Are residing updates: U.S. markets crater with shares down extra than 5 p.c as coronavirus spreads

Are residing updates: U.S. markets crater with shares down extra than 5 p.c as coronavirus spreads

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Saudi Arabia, in Switch Geared toward Russia, Cuts Oil Prices and Also can Enhance Production

Saudi Arabia, in Switch Geared toward Russia, Cuts Oil Prices and Also can Enhance Production

The action comes after Russia on Friday rejected an agreement with OPEC on cuts in oil supplies to bolster prices.Saudi Aramco’s Ras Tanura oil refinery and oil terminal. Shares of Saudi Aramco fell on Sunday below their initial public offering price for the first time.Credit…Ahmed Jadallah/ReutersMarch 8, 2020, 12:33 p.m. ETSaudi Arabia slashed its export…

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Bitcoin Smashes Below $8,300 as In Violent Downturn as Shopping Tension Evaporates

Bitcoin Smashes Below $8,300 as In Violent Downturn as Shopping Tension Evaporates

Bitcoin’s selloff seen yesterday reached a boiling point this morning, as the cryptocurrency has now begun its descent towards the $7,000 region. This decline has led BTC to plummet below $8,300 in a brief movement, leading analysts to widely eye further downside.This intense movement has also led the crypto to break below multiple key support…

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Here’s the no. 1 S&P 500 sector to steer clear of here, market bull Jeff Saut says

Here’s the no. 1 S&P 500 sector to steer clear of here, market bull Jeff Saut says

Stocks are within a whisker of all-time highs.The S&P 500 ended Friday just 0.2% from records after bouncing more than 1% for the week.But, top market bull Jeffrey Saut isn’t trusting one outperforming sector that carried the index to these heights.”I’m not a big fan of utilities here,” Saut, chief investment strategist at Capital Wealth…

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70,000 ceiling followers equipped at Lowe’s recalled due to the blades can soar off

70,000 ceiling followers equipped at Lowe’s recalled due to the blades can soar off

Joel Shannon USA TODAY Published 1:37 PM EST Feb 15, 2020 About 70,000 ceiling fans exclusively sold by Lowe’s have been recalled following more than 200 reports of broken or flying fan blades. The recall notice, announced by the U.S. Consumer Product Safety Commission on Thursday, affects the Harbor Breeze 48-inch Santa Ana ceiling fan, manufactured by…

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No must scare about coronavirus impact on oil markets, US energy secretary says

No must scare about coronavirus impact on oil markets, US energy secretary says

The U.S. energy secretary does not believe the ultimate impact of China’s fast-spreading coronavirus is a cause for concern for markets.His comments come shortly after both OPEC and the International Energy Agency (IEA) dramatically lowered their oil demand growth forecasts this year as a result of the deadly flu-like virus.”I think we are going to…

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Germany’s economy stagnated within the fourth quarter

Germany’s economy stagnated within the fourth quarter

Germany’s economy stalled in the fourth quarter, the German statistics office Destatis said Friday. The country’s gross domestic product remained flat at 0.0% compared with the previous quarter, according to Destatis. This is below economists’ expectations of a 0.1% expansion in The Wall Street Journal’s survey. Weak manufacturing-orders and industrial-production data in December had raised…

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Alibaba Beats Q3 Profit Forecast On Anecdote Singles Day and Cloud Computing Revenues

Alibaba Beats Q3 Profit Forecast On Anecdote Singles Day and Cloud Computing Revenues

Alibaba Group Holding Co. (BABA) – Get Report posted stronger-than-expected third quarter earnings Thursday after a record Singles Day shopping event and rising cloud computing revenues helped boost profits for Asia’s biggest tech company.Shares in the group dipped lower, however, after CEO Daniel Zhang called the ongoing coronavirus outbreak a “black swan” event that will have a “significant…

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Mini-mortgage refinance enhance continues as coronavirus keeps rates low

Mini-mortgage refinance enhance continues due to coronavirus rates low now

A real estate agent shows a home to a prospective buyer in Miami.Getty ImagesMortgage lenders were busy last week, but mostly with current homeowners looking to take advantage of low mortgage rates. Total mortgage application volume increased 1.1% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.Refinance demand drove the…

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OPEC slashes oil anticipate outlook for 2020 as coronavirus outbreak stifles China

OPEC slashes oil anticipate outlook for 2020 as coronavirus outbreak stifles China

The logo of the Organization of the Petroleum Exporting Countries (OPEC) at the headquarters.Omar Marques | LightRocket | Getty ImagesOPEC has dramatically lowered its forecast for oil demand growth this year, citing China’s coronavirus outbreak as the “major factor” behind its decision. In a closely-watched monthly report published Wednesday, the Middle East-dominated producer group downwardly…

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CVS Neatly being beats on fourth-quarter earnings and income

CVS Neatly being beats on fourth-quarter earnings and income

A pedestrian walks through the parking lot of a CVS Health Corp. store in Oakland, California, Aug. 2, 2019.Michael Short | Bloomberg | Getty ImagesCVS Health on Wednesday reported fourth-quarter earnings and revenue that beat Wall Street’s expectations, boosted by higher sales in its pharmacy benefit management business.Here’s what the company reported compared with what…

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Below Armour shares tank on gross sales leave out, sees $50 million to $60 million hit from coronavirus

Below Armour shares tank on gross sales leave out, sees $50 million to $60 million hit from coronavirus

An Under Armour store front is seen on November 04, 2019 in Sunrise, Florida.Joe Raedle | Getty ImagesUnder Armour is calling for sales to drop in 2020, saying it could take a hit of as much as $60 million in lost sales from the deadly coronavirus as it struggles to rally shoppers behind its sweat-wicking…

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Viral hen sandwiches are no longer sufficient for Wall Avenue: Morning Rapid

Viral hen sandwiches are no longer sufficient for Wall Avenue: Morning Rapid

Tuesday, February 11, 2020Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. SubscribeThe general public isn’t the investing publicMake no mistake: Popeyes chicken sandwich is a runaway hit.In the fourth quarter, same-store sales at Popeyes rose 34.4% and system-wide sales at Popeyes stores grew 42.3%.As Jose Cil, CEO…

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Huawei sues Verizon for alleged patent violations

Huawei sues Verizon for alleged patent violations and rights

Huawei has announced that it’s suing Verizon for alleged patent violations, marking the latest twist in the Chinese tech giant’s adversarial relationship with the US. The lawsuit, filed in the Eastern and Western district courts in Texas, claims that Verizon is using 12 patents owned by Huawei without authorization. The patents relate to network technology,…

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