Day: October 6, 2020

Stock futures dip after stimulus hopes squashed by Trump

spike 2 months ago

U.S. stock futures moved lower in overnight trading on Tuesday after President Donald Trump called off stimulus talks until after the November election. 

Dow futures fell 130 points. S&P 500 futures and Nasdaq 100 futures fell 0.53% and 0.5%, respectively.

In regular trading on Tuesday, the Dow Jones Industrial Average closed down 375 points after Trump tweeted the White House is halting talks with Democrats about a second coronavirus stimulus deal. Earlier in the session, stocks rallied in hopes that there would be a second relief package to prop up markets as the coronavirus outbreak rages on.

“I have instructed

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Trump’s ending of stimulus talks will mean a ‘much slower’ recovery, Fed’s Mester says

spike 2 months ago

President Donald Trump’s announcement that no further stimulus talks will happen until after the November election will put a dent in efforts to bring the economy back from its coronavirus pandemic-induced slide, Cleveland Federal Reserve President Loretta Mester said Tuesday.

“Certainly, you know, the recovery will continue without it, I think, but it’s going to be a much slower recovery and it’s disappointing that we didn’t get a package done,” Mester said on CNBC’s “Closing Bell” just a little while after Trump delivered the stimulus news.

“There’s still a lot of households and a lot of small businesses that really

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Swiss Re-Hitachi tie up to offer ‘industry first’

spike 2 months ago

If there’s anything that the COVID-19 pandemic has proven it’s that digital propositions are no longer the future, they are very much the present.

That’s why the corporate arm of one reinsurance giant has announced a huge new partnership designed to launch integrated insurance-based offerings for the digital era.

Swiss Re Corporate Solutions is teaming with Hitachi Europe Ltd in what it describes as an “industry first.” With organisations increasingly turning to AI for critical business operations, the partners are offering a new industry solution to help accelerate digital transformation and minimise risk.

Initially this solution will focus on the

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Boeing, SeaWorld, Sonos, Costco and more

spike 2 months ago

Trainers have Orca killer whales perform for the crowd during a show at the animal theme park SeaWorld in San Diego. (File photo).

Mike Blake | Reuters

Check out the companies making headlines in midday trading. 

SeaWorld Entertainment — SeaWorld shares popped more than 7% after a Credit Suisse analyst upgraded them to outperform from neutral. The analyst also hiked his price target on the stock to $30 per share from $13 per share, implying a 46% upside from Monday’s close. The analyst noted three key headwinds for SeaWorld “have either changed or are now fully priced in, making

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