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Thursday, April 2, 2020
For most mortgage borrowers, the first of the month is payment day. This month, however, is a very different story. Millions of borrowers have either lost jobs or income, and are suddenly struggling to make those monthly payments. Borrowers with government-backed mortgages, through Fannie Mae, Freddie Mac, the FHA or the VA, are entitled to a…
A man runs past the New York Stock Exchange (NYSE).BloombergThis is a live blog. Check back for updates.10:51 am: Wall Street analysts see plenty of buying opportunities as second quarter begins, including Verizon and JPMorgan Goldman Sachs added Verizon to its conviction buy list.Bernstein raised its price target on Netflix to $487 from $423.KBW upgraded…
LONDON (Reuters) - World markets fell on Wednesday as the coronavirus threat ensured an ugly start to April and the second quarter for equities and commodities. Traders headed for the safety of government bonds, the dollar [USD/] and gold [GOL/] as evidence continued to mount that the virus was sending the global economy into a…
SHANGHAI — Million-dollar wire transfers to strangers. Rumors of hidden supplies in forgotten warehouses. Wheeler-dealers trying to talk regulators and customs officials into letting that one precious shipment through.Global desperation to protect front-line medical workers battling the coronavirus epidemic has spurred a mad international scramble for masks and other protective gear. Governments, hospital chains, clinics…
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Results of a private survey released on Wednesday showed China's manufacturing activity expanded slightly in March as factories began to come online amid a coronavirus outbreak.The Caixin/Markit manufacturing Purchasing Manager's Index for March was 50.1.Analysts polled by Reuters had expected the Caixin/Markit PMI to come in at 45.5, compared with February's sharpest contraction on record at…
U.S. stock futures moved lower in overnight trading and pointed to declines at the open on Wednesday, following the end of the worst first quarter on record for the Dow and S&P 500 spurred by the coronavirus sell-off.Dow Jones Industrial Average futures fell 302 points, indicating a Wednesday opening loss of about 340 points. S&P…
Xerox has dropped its bid to merge with HP, citing the current global health crisis related to the COVID-19 coronavirus, Xerox said. The news was previously reported by the Wall Street Journal. "The current global health crisis and resulting macroeconomic and market turmoil caused by COVID-19 have created an environment that is not conducive to Xerox…
How bad has it been for the U.S. stock market in the first three months of 2020? In a word, historic, but returns are almost certain to improve over the longer term despite the current pain, if history is any guide. Indeed, it has been punishing for investors, as the market went into a coronavirus-sparked…