Somebody has a case of the Mondays

Airline Industry

Airlines Will Take Three Years to Fully Recover

During a call on Wednesday to shareholders, Delta Airlines CEO Ed Bastian made a stunning comment while reporting the company’s first-quarter earnings: air travel will not rebound to pre-pandemic levels for another three years. “Demand for near-term air travel dropped to almost zero in a matter of weeks,” he said. But when travel starts to return, Bastian predicts…

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Stock Market

Stock Futures, Oil Prices, Economy Reopening Plans on Investors’ Minds

Stock futures were flatter than a pancake on Sunday night, while oil prices fell like poured maple syrup. Meanwhile, investors are assessing the plans to reopen the global economy now that the virus numbers are falling around the globe. This decline along with unprecedented monetary and fiscal stimulus is sparking a huge stock market rally from the lows reached…

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U.S. Labor Force

Millions of Workers Forced to Work From Home Due to Coronavirus Now Don’t Want to Go Back to Office

A research survey of swing states found that 42% of respondents nationwide are working from home. Once the economy reopens, 24% say they now prefer working from home or would at least prefer working part of the time at home. 60% report being as productive or more productive than they were in the office. The survey reflects a big leap from only 9% who reported working from home before the pandemic. Some 14% say…

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Airline Industry

Richard Branson Desperately Seeks Buyer for Virgin Atlantic

Sir Richard Branson has set a deadline to find a buyer to save his ailing airline Virgin Atlantic from the brink of collapse. The deadline is the end of May. Branson’s Virgin Atlantic is gasping for air after Delta recently refused to pass along any relief money to the airline. Delta owns 49% of Virgin Atlantic but says the conditions of the U.S. bailout prevent them from sending any of the money to Virgin Atlantic. Roughly 50 potential investors have asked for information and will be…

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U.S. Economy

Has a Sinking U.S. Economy Hit Bottom Yet?

The coronavirus epidemic was like a title wave that capsized the U.S. economy—which was running the longest expansion in U.S. history. Now, some economists are waiting to see how far the economy sinks before it finds a bottom. “I think there is going to be a long adjustment process during the summer,” said David Donabedian, chief investment officer of CIBC Private Wealth Management. “The bigger question is when those businesses reopen do their…

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China Economy

China’s Loses 34.9% of Its Industrial Profits in March

China’s industrial profits fell at a slower pace in March, however, a near 35% decline shows how their economy has seen dramatic downturns, which is felt globally as China has the world’s second-largest economy. Profits for Chinese industrial firms dropped…

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Oil Industry

Whoa! Could the Oil Industry Actually Shut down?!

Many industry experts see the writing on the wall—negative oil prices, ships drifting at sea with unwanted cargoes, and traders getting creative on where to store the oil…put them together and the next oil crisis is inevitable: huge portions of the petroleum industry are about to shut down.

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Stock Market

Goldman Sachs Spots a Bad Sign for Stocks

Golden Sachs has publicly warned investors that having a narrowing group of winners in the S&P 500 is not a good omen for the future performance of U.S. stocks. David Kostin wrote in a note on Friday that the U.S. benchmark is around 17% below its…

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