Stock futures flat as investors weigh economy reopening and US-China tensions

spike

U.S. stock futures were flat in overnight trading, as investors juggled optimism about the reopening of the economy and a possible coronavirus vaccine as well as concerns about U.S.-China tensions. 

Recent hopes for a return to normal consumer habits has pushed the Dow Jones Industrial Average and S&P 500 to briefly touch key market levels for the first time since early March; however, a escalation of U.S.-Chinese tensions has capped gains. 

Dow futures fell about 20 points. The S&P 500 and Nasdaq were also lower, with losses of 5 points and 7 points, respectively.

Stocks started the holiday-shortened week off

Read More

Wall Street Week Ahead: Investors look beyond drug makers as hunt for Covid-19 treatment heats up

spike

NEW YORK (Reuters) – Investors are diversifying bets in the healthcare sector, as the rush to develop treatments for Covid-19 has driven up prices for some pharmaceutical stocks.

FILE PHOTO: Floor traders work space is seen on the trading floor after the closing bell, following traders testing positive for Coronavirus disease (COVID-19), at the New York Stock Exchange (NYSE) in New York, U.S., March 19, 2020./File Photo

A record 48% of fund managers are overweight healthcare stocks, a BofA survey showed, and the S&P 500 healthcare sector is up nearly 34% since its March low. Hopes for a treatment have

Read More

Why bond investors are willing to bet on money-losing Pemex after oil price crash

spike

MEXICO CITY/NEW YORK (Reuters) – Mexico’s state-owned oil company Petroleos Mexicanos has seen investor sentiment improve in recent weeks despite sky-high debts, a slump in demand and no clear direction about how the government will turn the money-losing driller around.

FILE PHOTO: Tanker trucks of Mexico state oil firm Pemex’s are seen at Cadereyta refinery in Cadereyta, on the outskirts of Monterrey, Mexico January 23, 2019. REUTERS/Daniel Becerril

Despite all the risks of holding the world’s largest fallen angel, the ignominious distinction for a company that loses its investment-grade rating, bondholders are betting on continued support from the government.

“If

Read More

Jim Cramer warns renewed U.S.-China trade tensions worry investors

spike

CNBC’s Jim Cramer on Thursday said the stocks of companies with ties to the Chinese economy brought the market down as Wall Street cools off from recent gains.

Global technology plays — the ones doing business in China — were among the biggest losers on a day where the major averages took a break from their rally. The Dow Jones Industrial Average closed down about 102 points, or 0.4%, to 24,474.12. The S&P 500 and Nasdaq Composite both pulled back just shy of 1%.

“The market may have been hit, but today’s action was still pretty upbeat about the U.S.

Read More