Latest Financial News

Biden earns backing from Warren, swing-state Democrats in show of unity against Trump

2020-04-15

By Joseph Ax and Amanda Becker(Reuters) - U.S. Senator Elizabeth Warren endorsed former Vice President Joe Biden for president on Wednesday, delivering another high-profile backing from a liberal former rival as he aims to unify the Democratic Party ahead of a bruising contest with Republican Pr....

G20 agrees debt freeze for world's poorest countries

2020-04-15

By Davide Barbuscia, Marwa Rashad and Andrea ShalalDUBAI/RIYADH/WASHINGTON (Reuters) - Finance officials from the Group of 20 major economies agreed on Wednesday to suspend debt service payments for the world's poorest countries from May 1 until the end of the year, as a group of private ....

Tesla shares extend rally after China registration surge and nod from Goldman

2020-04-15

By Noel Randewich(Reuters) - Tesla's (O:TSLA) stock extended its recent rally on Wednesday following a surge in China car registrations and after Goldman Sachs (NYSE:GS) initiated coverage of the electric car maker with a buy recommendation.Shares of the Silicon Valley automaker rose nearly ....

Gold Falls as Weak Data Dent Broader Market Sentiment Again

2020-04-15

By Geoffrey SmithInvesting.com --Gold traded like a risk asset again on Wednesday, falling alongside oil and equities while other haven assets rallied against a backdrop of dismal economic data.By 11:15 AM ET (1515 GMT), gold futures for delivery on the Comex exchange were down 1.5% at $1,74....

Stocks - Wall Street Heads Lower Midday, Coming to Terms With Dour Data

2020-04-15

By Geoffrey SmithInvesting.com -- U.S. stocks extended their losses midday Wednesday as grim economic data and earnings finally overshadowed Federal Reserve dollars and underscored how much repair the global economy will need when it restarts.By 11:45 AM ET (1545 GMT), all three major indice....

Dalio Says Investors ‘Crazy’ to Hold Government Bonds Now

2020-04-15

(Bloomberg) -- Bridgewater Associates’ Ray Dalio, founder of of the world’s largest hedge fund, said investors would be “crazy” to hold government bonds now because of money printing by central banks to rescue the global economy.“This period, like the 1930-45 period, is a period in which I think....

U.S. crude stocks jump by a record 19 million barrels as refiners cut back: EIA

2020-04-15

By Stephanie Kelly and Laura Sanicola(Reuters) - U.S. crude oil stockpiles rose by 19 million barrels last week, the biggest one-week increase in history, the U.S. Energy Information Administration said, as refiners throttled back activity due to slumping demand as a result of the coronaviru....

OPEC+ or minus? Oil supply cut numbers puzzle markets

2020-04-15

By Alex Lawler and Ahmad GhaddarLONDON (Reuters) - Days after OPEC+ reached a record deal to cut oil output in an attempt to shore up a market reeling from the coronavirus crisis, their calculations are in question.The Organization of the Petroleum Exporting Countries, along with Russia and othe....