Hello Wednesday

Stock Market

Stock Futures Stabilize After Senate Approves Coronavirus Relief Funds

On Tuesday, stock futures opened slightly higher after a sell-off in risk assets during the regular session sent the S&P 500 to its knees in the largest one day drop since April 1. Tuesday afternoon, the U.S. Senate finalized a deal that adds another $484 billion into the small business aid program. President Trump has already suggested he would sign…

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Oil Industry

Experts Expect Another Dramatic Shift in the Oil Market

Investors should brace for a volatile near-term price action in oil, according to Goldman Sachs. Analyst Damien Courvalin predicted “a violent rebalancing” for the commodity during the next month. “As storage becomes saturated, price volatility will…

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Stock Market

What Can We Learn From the 17 Stock Market Crashes Since 1870?

Yahoo Finance writer Emily McCormick wrote an insightful article that investors will enjoy:

SEE WHAT SHE GLEANED FROM THIS HISTORICAL ANALYSIS →

Retail Industry

Macy’s Trying to Avoid Bankruptcy By Raising $5 Billion

The legendary department store Macy’s has been hit hard by the coronavirus pandemic and its economic fallout. To avoid declaring bankruptcy, the iconic store is making an effort to raise $5 billion in debt and use its inventory as $3 billion in collateral, with another $1 billion to $2 billion in collateral coming from its real estate. Sources told CNBC that…

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Travel and Tourism Industry

Richard Branson Struggling to Save His Travel, Tourism Empire

Two months ago Richard Branson was riding the bull market wave while launching the Scarlet Lady, the first cruise ship under the Virgin Group brand. Today, the cruise ship business is on hold, one of his airlines, Virgin Australia, filed for bankruptcy on Tuesday, and his other airline, Virgin Atlantic, is asking for financial assistance from the U.K. government. Mr. Branson is 69 years old, and now finds himself at the epicenter of an industry meltdown.

HERE’S WHAT BRANSON PLANS TO DO →

Real Estate

U.S. Home Sales Drop 8.5% in March and Could Grow Worse

So far, the coronavirus pandemic economic shutdown has cratered sales of existing homes in the U.S. by 8.5% in March. The National Association of Realtors announced Tuesday that 5.27 million homes sold last month, which is down from 5. 76 million in February. That is the steepest decrease since November 2015. The situation will likely get…

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Entertainment Industry

Netflix Just Replaced TV As the Center of American Culture

The viewership numbers tell the story: Netflix added 15.8 million global subscribers in the first quarter, which means the video streaming giant now has more than 183 million global subscribers. Netflix now has a bigger impact on American culture than the television networks of old—the torch has been passed—from Seinfeld, American Idol and M*A*S*H to Tiger King, OZARK, and Fuller House.

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Restaurant Industry

Chipotle Proves Flexibility As Diners Shift to Online Orders, Driving Digital Sales Up 81%

Chipotle reported adjusted first-quarter earnings per share of $3.08 on revenue of $1.41 billion. Same store sales rose 3.3%, although overall transactions fell…

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