Oil mixed on supply cuts, fears of second coronavirus wave
Oil prices were mixed on Monday, supported by Saudi Arabia’s move to reduce output by 1 million barrels per day (bpd) on top of reductions agreed under an OPEC+ pact, but pressured by fears of a second wave of coronavirus infections.
Under Armour warns 2nd quarter revenue could more than halve, shares tank
Under Armour Inc forecast on Monday a 50% to 60% drop in second-quarter revenue as most of its stores remained closed because of the COVID-19 pandemic, sending the athletic apparel maker’s shares down about 11%.
Global equities sink, bonds rise on fears of second wave of infections
A jump in coronavirus cases in South Korea and Germany rattled investors and sent global equities lower on Monday, while safe- haven assets including the dollar and U.S. Treasuries edged higher.
Munich court to drop case against British short seller over Wirecard shares
A Munich court is planning to drop proceedings against British short seller Fraser Perring for suspected manipulation of the share price of German payment processor Wirecard , a court spokesman said on Monday.
Chinese advisers call for talks on new trade deal with U.S.: Global Times
Hawkish voices have emerged in China seeking a reevaluation of its Phase 1 trade deal with the United States, with some advisers urging fresh talks, a state-controlled tabloid said, citing sources close to the Chinese government.
Marriott profit misses as bookings, revenue per room plunge
U.S. hotel operator Marriott missed already lowered estimates for first-quarter profit by a huge margin on Monday, as bookings plunged due to the coronavirus-led lockdowns that kept a quarter of its hotels closed.
Exclusive: Toyota plans to cut North American production by 29% through October, source says
Toyota Motor Corp plans to slash North American production by nearly a third through October and expects it will take some time for output to return to normal, according to a person familiar with the matter.
Wall Street falls on fears of new infection wave
U.S. stocks opened lower on Monday after last week’s rally as investors worried about a second wave of coronavirus infections with the reopening of several economies.
Oil prices rise on Saudi voluntary cuts
Oil prices rose on Monday after leading exporter Saudi Arabia said it will reduce output by 1 million barrels per day (bpd) on top of reductions agreed under an OPEC+ pact, though gains were capped by fears of a second wave of coronavirus infections.
Stocks stumble on fears of second wave of coronavirus
Stock markets fell on Monday after reports of a pick-up in new coronavirus cases rattled investors, who worried that it could slow or reverse the loosening of lockdown measures.
