Western Digital hard drives are shown for sale at an Office Depot Inc store in Encinitas, California. Mike Blake | Reuters Check out the companies making headlines after the bell. Amazon — The e-commerce giant’s stock tumbled 5% in extended trading after the company posted its first-quarter financial results. The company reported first-quarter earnings of
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The New York Stock Exchange (NYSE) is seen in the financial district of lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York City, April 26, 2020. Jeena Moon | Reuters As encouraging as the market comeback this month has been, Wall Street has little faith in it. A leveling out of
The logo of DBS, Singapore’s largest bank. Roslan Rahman | AFP | Getty Images Southeast Asia’s largest bank, DBS, on Thursday said it set aside 1.09 billion Singapore dollars ($772.5 million) to cover potential losses from the coronavirus pandemic — which resulted in a 29% year-over-year fall in net profit in the first quarter. The Singaporean
Market researcher James Bianco warns April’s big run will collapse. His reason: Investors are too bullish. “I understand the market has been up a lot since the March low. But what I see in the market is a retracement rally that looks very similar to the first type of rallies that you get in protracted
Federal Reserve chairman Jerome Powell said more stimulus is needed to ensure a robust economic recovery from the coronavirus crisis. “It may well be the case that the economy will need more support from all of us if the recovery is to be a robust one,” Powell said in a virtual press conference on Wednesday following the
The NIO Inc. ES6 electric sport utility vehicle (SUV) stands on display at the Auto Shanghai 2019 show in Shanghai, China, on Tuesday, April 16, 2019. Qilai Shen | Bloomberg | Getty Images For Chinese electric vehicle company Nio, the worst of the coronavirus impact is pretty much over, CEO William Li said Wednesday. “Nio hasn’t
A new Bank of America chart shows the Federal Reserve is buying fewer Treasurys and mortgage-backed securities. Mark Cabana, who’s one of the strategists behind the chart, contends it doesn’t mean the Fed is stepping back from its aggressive policy to help financial system whether the coronavirus pandemic. “What we have seen is that the Fed
Men wearing face masks walk past a Gap store at a shopping area, as the country is hit by an outbreak of the new coronavirus, in Beijing, China February 7, 2020. Jason Lee | Reuters Check out the companies making headlines in midday trading. Gap, JCPenney, Nordstrom, L Brands, PVH, Dillard’s, Ollie’s Bargain Outlet — Retail
The entrance of the China Securities Regulatory Commission (CSRC). Zhang Peng | LightRocket |Getty Images In a period fraught with tensions with the U.S., China is trying to show it’s being serious about tackling fraud. Nasdaq-listed Luckin Coffee said Monday it was cooperating with regulators, following reports of government investigation into the company over recently disclosed
A worker prepares to lift drills by pulley to the main floor of a drilling rig in the Permian basin. Brittany Sowacke | Bloomberg | Getty Images Oil prices slid more than 15% during overnight trading, extending Monday’s nearly 25% decline on ongoing fears that storage around the world is rapidly filling. West Texas Intermediate,