May 27, 2020

Investment

DailyHum News
400400
FOREX-Dollar treads water against euro; yuan sinks on U.S.-China tensions
Investment

* Offshore yuan stumbles to record low* Yen, Swiss franc under pressure (Updates to U.S. afternoon, adds trader's comment)By Saqib Iqbal AhmedNEW YORK, May 27 (Reuters) - The dollar steadied against the euro on Wednesday even as the common currency remained supported by news of a proposal for an economic recovery package to help the euro zone region recover from the coronavirus pandemic.The euro was up 0.03% against the dollar at $1.09855, after rising as high as $1.10315, its strongest since April 1. The common currency gained 0.8% on the greenback on Tuesday.
DailyHum News
400400
Goldman Sachs says bitcoin is not a viable investment for client portfolios
Investment

Goldman Sachs analysts are not buying the idea that bitcoin — or any cryptocurrency — should be seen as a worthwhile investment for the firm's clients.During a client-facing call on Wednesday, the investment bank presented a case that cryptocurrency is not a viable investment vehicle under the current economic environment. "Cryptocurrencies including bitcoin are not appropriate as an asset class," the bank's analysis stated in a deck shared with call participants.
DailyHum News
400400
Tesla cuts car prices by up to $5K
Investment

As Elon Musk's SpaceX prepares to soar to new heights Wednesday, Tesla announced it would bring down its car prices.His electric vehicle and clean energy company reduced the price of the Model 3, Model S, and Model X in North America, reflected on Tesla's website.• The lowest-priced sedan, the Model 3, dropped $2,000 across all trims, with the entry-level Standard Range Plus Model 3 now starting at $37,990.• Model S gets a $5,000 price cut, now starting at $74,990 for its entry-level Long Range Plus version.• Model X also dropped by $5,000, now starting at $79,990. Its Performance version got a $5,000 cut.• Model Y, Tesla’s newest car, is staying put at $52,990.And now, the higher-end Model S sedans and Model X sport utility vehicles won't come with free Supercharger quick-charging fill-ups for new purchases.
DailyHum News
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Trump threatens social media after Twitter fact check
Investment

President Donald Trump is threatening to "strongly regulate" or "close down" social media platforms a day after Twitter added a "fact check" label to two of his tweets about mail-in ballots.After tweeting Tuesday that "Twitter is now interfering in the 2020 Presidential Election" and "stifling FREE SPEECH," Trump initially tweeted again Wednesday about social media platforms without specifically naming Twitter, which has been his favorite platform to post unfiltered views to his millions of followers.Asserting that "Republicans feel that Social Media Platforms totally silence conservatives voices," Trump tweeted, "We will strongly regulate, or close them down, before we can ever allow this to happen."
DailyHum News
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Digital marketing moves for your small business
Investment

Whenever I give a webinar, I always explain there are two types of marketing a small business can do:1. There is the branding move, whereby you are ingraining the name of your business and/or slogan in people’s mind.Nike’s ubiquitous “Just Do It” ads are of this type. They are not designed to sell you something at this very moment, there is no call-to-action, rather, it is a campaign to get you to think of Nike in a certain way and remember what they are about so that when you do need shoes, you think of Nike. A long term play.2. Then there is the “sell now” promotion. This is where a marketer wants to get you to take a certain action right now – click, call, opt-in, logon, buy, whatever. A lot of ads that you see on Facebook are of this sort. 
DailyHum News
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Stocks making the biggest moves midday: Nordstrom, Tractor Supply, Twitter, Zoom & more
Investment

Check out the companies making headlines in midday trading. Nordstrom – Shares of the retailer surged more than 12%, making it the top-performing stock in the S&P 500, as stocks sensitive to economies re-opening moved higher. Gap and Kohl's were among the other retailers in the green, gaining 11% and 9%, respectively. Nordstrom will report first quarter earnings on Thursday after the market closes.Tractor Supply – Shares of the farming supply retailer jumped more than 6% after the company said in an earnings pre-announcement that it expects to report record sales and profit for the second quarter. Since lockdown measures went into effect in mid-March, the stock has surged more than 45%, making it the top-performing retailer in that period. Tractor Supply is expected to report second-quarter earnings on July 23.
DailyHum News
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That VISA in the mail might have been your stimulus check
Investment

Here's an Internal Revenue Service alert regarding some recently delivered stimulus payments: Pay attention if you get an plain envelope in the mail that's marked "Money Network Cardholder Services." No, folks, it's not a scam. It's real stimulus cash. The envelope contains a prepaid debit card that is loaded with your stimulus payment. Do not throw out this envelope or toss aside this card, as it can contain up to $1,200 for single taxpayers. The cards are marked Visa debit card and the back of the card has the logo for MetaBank. No, nothing seems to be simple about the rollout of the stimulus money that's being issued as part of the coronavirus relief effort.The federal government said it has already delivered stimulus payments totaling $239 billion to more than 140 million Americans. The money has arrived in a variety of ways ever since April, including direct deposit to bank accounts, Direct Express cards connected to other federal programs, and by receiving a paper check in the regular mail.
DailyHum News
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EUR/USD Price Forecast – Euro Rallies on Stimulus Hopes
Investment

The Euro initially fell during the trading session on Wednesday to reach down towards the 1.0950 level before turning back around. By doing so, the market showed resiliency and it looks as if it is trying to break out for a bigger move. Was worth noting is that we have formed a couple of hammers on the monthly chart, and that suggests that we are going to see an attempt to break out for a longer-term trend change.
DailyHum News
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GBP/USD Price Forecast – Pound Rolls Over After Brexit Comments
Investment

Brexit negotiations seem to be going nowhere as per usual, and as a result people are beginning to worry about the British pound again. Ultimately, this is a market that I think has gotten a bit expensive anyway, so it is not a huge surprise to see that it might be ready to rollover. I think the words coming out of the British negotiator did not help the situation either, suggesting that the European Union needs to “evolve its position” to reach some type of an agreement. It has been a while since we had to worry about Brexit, but that clearly will come into focus again as people start to shift attention away from the coronavirus situation.
DailyHum News
400400
Le Pain Quotidien files Chapter 11 bankruptcy
Investment

Restaurant chain Le Pain Quotidien filed for Chapter 11 bankruptcy protection Wednesday and revealed plans to sell itself to another restaurant company in a bid to avoid liquidation.The company is proposing a sale to New York-based Aurify Brands in a deal that would allow at least 35 of its 98 U.S. restaurants to reopen, according to a court filing. The rest appear to be at risk of permanent closure.Le Pain Quotidien has locations in the New York City area, the Mid-Atlantic region, California, Illinois and Florida. Before the pandemic, about 56% of its sales came from the New York City area, according to a court filing.Officials at Le Pain Quotidien and Aurify Brands did not immediately respond to requests seeking comment. Aurify operates fast-casual restaurants such as The Little Beet and Melt Shop.
DailyHum News
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Euro Boosted by Huge EU Stimulus Plan
Investment

The Euro stood tall against almost every single G10 currency, marching towards a fresh two month higher against the dollar as investors took heart from this positive news. Given how the currency has struggled since falling in March when market players sprinted towards the Dollar’s safe embrace, it could be time for the Euro to shine.Given how the European Commission coronavirus economic recovery package may boost the likelihood of a synchronized recovery across Europe, the longer term outlook for the Euro is encouraging.
DailyHum News
400400
Midweek Market Drivers: Global Expand Of COVID-19, Situation In Europe, and US-China Tensions
Investment

Aside from Spain, which has had 1 blip of over 1,000, we’ve seen the most adversely affected see sub-1,000 new cases each day for 9 consecutive days. The most affected being France, Germany, Italy, and Spain.We had some concerns over how quickly governments were easing lockdown measures. When we factor in the 2-week incubation period, these numbers are fairly positive. They should give the markets some hope that a 2nd wave can be avoided.
DailyHum News
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Five smart small-business moves to make during COVID-19
Investment

COVID-19 has battered the U.S. economy over the past two months, and small businesses in particular are hurting. It's estimated that more than 100,000 small businesses have already closed permanently due to the pandemic, and if the Great Lockdown continues, countless more face a similar fate.If you own a small business, it's imperative that you act strategically to salvage the venture that's not only your source of income but, to some extent, a part of your identity. Here are a few smart moves to make in light of the greater crisis.Right now, lines of credit aren't so easy to come by for small businesses, but if you have a long-standing relationship with a bank or financial institution, it pays to apply for one, even if you don't need it immediately. Having access to capital could be key if the greater situation worsens or if circumstances in your part of the country result in added restrictions that reduce your business's revenue. You can also try securing a line of credit with a community bank – one that might be especially invested in helping a local business stay afloat.
DailyHum News
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EU's COVID-19 fund plan may herald benchmark safe-haven asset for euro zone
Investment

By Yoruk BahceliLONDON, May 27 (Reuters) - A European Commission plan to issue large amounts of common EU bonds under a coronavirus recovery fund potentially marks the first step towards the euro zone finally getting a region-wide safe-haven asset, investors said.Unveiled on Wednesday, the fund is to comprise 500 billion euros in grants and 250 billion euros in loans, designed to help the most vulnerable European Union states recover from the deep economic scars left by the epidemic.
DailyHum News
400400
Tuesday Morning closing 230 stores, files bankruptcy
Investment

Off-price retailer Tuesday Morning filed for Chapter 11 bankruptcy protection on Wednesday with plans to close more than a third of its stores.Tuesday Morning had been struggling when the coronavirus pandemic began and went into a free fall when it was forced to temporarily close its locations due to the crisis.The company joins a growing list of retailers that have tumbled into Chapter 11 bankruptcy during the pandemic, including J.C. Penney, Neiman Marcus and J. Crew. In each case, the companies were already in rough shape before the pandemic began due to excessive debt and declining foot traffic.Tuesday Morning – which sells a wide variety of merchandise including home decor, bath and body goods, crafts, food and toys – hopes to stay in business while using the bankruptcy process to restructure its operations.
DailyHum News
400400
Boeing cutting 12,000 jobs amid pandemic
Investment

Boeing is cutting more than 12,000 jobs through layoffs and buyouts as the coronavirus pandemic seizes the travel industry, and more cuts are coming.One of the nation's biggest manufacturers will lay off 6,770 U.S. employees this week, and another 5,520 workers are taking buyout offers to leave voluntarily in the coming week.Air travel within the U.S. tumbled 96% by mid-April, to fewer than 100,000 people on some days. It has recovered slightly. The Transportation Security Administration said it screened 264,843 people at airports on Tuesday, a drop of 89% compared with the same Tuesday a year ago.Boeing had said it would cut 10% of a workforce that numbered about 160,000. A Boeing spokesperson said Wednesday's actions represent the largest number of job cuts, but several thousand additional jobs will be eliminated in the next few months.
DailyHum News
400400
FOREX-Dollar steadies against euro; yuan slips on U.S.-China tensions
Investment

* Offshore yuan stumbles to nine-month low* Yen, Swiss franc under pressure (New throughout, updates prices, market activity, comments to U.S. market open; new byline, changes dateline; previous LONDON)By Saqib Iqbal AhmedNEW YORK, May 27 (Reuters) - The dollar steadied against the euro on Wednesday even as the common currency remained supported by news of a proposal for an economic recovery package to help the euro zone region recover from the coronavirus pandemic.
DailyHum News
400400
EUR/USD Flat in Wild Trading as EU Proposes €750B Covid-19 Stimulus Package
Investment

By Yasin Ebrahim Invesing.com – The euro was flat against the dollar, following a wild day of trading after EU detailed a €750 billion ($842 billion) coronavirus response plan that will seek to support some of the worst-hit economies in the bloc. EUR/USD was roughly flat at 1.0991, after hitting a high of $1.1031The pooled relief program, which includes €500 billion in grants and €250 billion in loans to worst-hit economies of member states, still requires the backing of all 27 member states. Still, that is more than the €500 billion Franco-German proposals revealed last week.
DailyHum News
400400
Stay-at-home stocks that thrived during market rout are getting clobbered, Zoom is down 8%
Investment

The stay-at-home trade that thrived during the pandemic market turmoil is getting clobbered on Wednesday as investors rotated out of red-hot technology names amid the reopening of the economy.Amazon and Netflix dropped more than 2% each Wednesday, after both hitting record highs last week. Peloton fell 6%, while video game companies Activision Blizzard and Electronic Arts both dipped 3%. Zoom Video also tumbled 8.5% Wednesday in morning trading.These tech stocks had been a bright spot in a market that suffered the worst first-quarter ever and the fastest bear market on record. Investors flocked to those names benefiting from the social distancing restrictions and stay-at home orders amid the coronavirus pandemic. Amazon and Netflix were among the firsts to fully make back its March losses, both up more than 20% this year.
DailyHum News
400400
Goldman is bringing traders back to offices in New York and London in the 'next several weeks'
Investment

Wall Street is heading back to work.Goldman Sachs is planning on having some of its traders and other markets personnel return to offices in the U.S. and London in the next few weeks, executive John Waldron said Wednesday in an investor conference."We are beginning the process of returning to our offices around the world," said Waldron, who is Goldman's president and chief operating officer. "We are planning for a core group of people in our markets-facing businesses to return in the US and London over the next several weeks."Goldman, a top player in global trading and capital markets businesses, sent New York-area employees home in March as lockdowns began in the U.S. The bank's Wall Street-centric businesses performed well in the first quarter, exceeding analysts' expectations amid record volatility. Now, some of the 98% of bank employees working from home will begin to return to the bank's offices in Manhattan, New Jersey and Connecticut.
DailyHum News
400400
Walmart partners with thredUP, entering hand-me-down market
Investment

Walmart customers hoping to find hidden gems scattered in thrift shops can now find them in the comfort of their own home.The wholesale giant partnered with the secondhand store thredUP to offer customers used items, according to a Walmart statement.Walmart’s new platform offers customers over 750,000 pre-owned items, including women’s and children’s clothing, footwear, handbags and accessories."From Calvin Klein and Nike to Coach and Michael Kors, this digital partnership enhances Walmart’s fashion offering with fresh brands at amazing prices that their customers will love,” said Jenn Volk, thredUP Director of Product Management, in a statement.Bankruptcy season:Le Pain Quotidien files Chapter 11 bankruptcy, permanent restaurant closings likely
DailyHum News
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Netflix approaches 200 million subscriber mark
Investment

Netflix Inc. (NASDAQ: NFLX) recently forecast it will have over 190 million subscribers worldwide at the end of the quarter. Its normal growth rate, plus a surge due to the pandemic, could push that number above 200 million by midyear. In a market in which most people pay for only two or three streaming services, Netflix's size and rapid rise mean trouble.Among Netflix's advantages are that it has turned its subscriber base into a revenue-creating machine. It should bring in $25 billion this year. Net income should top $300 million. Its one major weakness is that it has made and must continue to make a huge investment in original programming to keep current subscribers and add new ones. It carries $14 billion on its balance sheet, against cash of $5 billion. Investors have largely ignored that challenge. Netflix has a market value of $188 billion.
DailyHum News
400400
Coronavirus crisis mobile banking surge is a shift that's likely to stick
Investment

Digital banking isn't new, but with the coronavirus pandemic, young and old Americans suddenly flocked to online and mobile banking en masse. The sudden uptick in online and mobile traffic even created outages. Among those affected: online platforms for U.S. Bank, PNC, Fifth Third Bank, Bank of America, T.D. Bank and BB&T. According to Fidelity National Information Services (FIS), which works with 50 of the world's largest banks, there was a 200% jump in new mobile banking registrations in early April, while mobile banking traffic rose 85%. With many branches closed and no tellers available, banks have also been dealing with a significant uptick in call center traffic, creating long wait times. 
DailyHum News
400400
As many as 2.4 million more jobless claims expected
Investment

Businesses are starting to reopen as the nation thaws from the economic freeze imposed by the coronavirus, but millions are still expected to seek jobless benefits because they are out of work.Between 2.1 million and 2.4 million Americans filed initial applications for unemployment insurance last week, economists estimate. At the high end, that would match the number who filed claims the week before, but it's down from the record 6.9 million who sought assistance in late March.Still, if the latest tally matches that forecast, it will mean roughly 41 million Americans have applied for unemployment in just ten weeks. The Labor Department will report the number of claims Thursday.A record 20.5 million jobs were lost in April, according to the Labor Department, spiking the jobless rate to 14.7%, the highest since the Great Depression and four times the 3.5% unemployment rate reported in February which represented a 50-year low.
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