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  • Divergence in Oil Prices Shows Collapse in Demand -- Update

    Oil futures have rallied over the past week, lifted by hopes that the U.S. will join other producers in cutting production. But the price of actual barrels of oil has lagged behind, showing that supply is swamping demand as the coronavirus pandemic sparks a downturn in the global economy. The price of Dated Brent, a key gauge of the market for oil cargoes in the North Sea, has been at least $5 a barrel lower than the price of Brent-crude futures since March 24. This gap expanded to $10.82 a...

  • USDA Chicago Terminal Grain

    GX_GR110 Springfield, IL Wed, Apr 08, 2020 USDA-IL Dept of Ag Market News Chicago Terminal Grain Report To Arrive Truck and Rail Bids for Grain Delivered to Chicago. The following quotations represent Bids from Terminal Elevators, Processors, Mills, and Merchandisers after 1:30 p.m. today. Grain Bids Delivery Change Basis Change SRW Wheat 5.5325-5.6325 30 Days DN 1 5 K to 15 K UNCH Soybeans 8.3450-8.4450 Spot DN 0.25 -20 K to -10 K UNCH Soybeans 8.3450-8.4450 15-30 Days DN 0.25 -20...

  • Coronavirus Pandemic Hits Plane Makers, Complicates 737 MAX Return

    The crisis that has embroiled the world's airlines is now hitting the industry's biggest aircraft makers, Boeing Co. (BA) and Airbus SE (EADSF), and further challenging Boeing's (BA) efforts to return its 737 MAX to service. Airbus said it was slashing production by about a third after booking just 21 net orders for jets in March and delivering 36 jets to customers, amid a flood of requests by customers to defer and cancel orders. Underscoring the challenge for Boeing's (BA) 737 MAX, Airbus said it was...

  • Fed Eases Wells Fargo's Asset Cap to Lend to Small Businesses Harmed by Coronavirus -- 2nd Update

    The Federal Reserve temporarily lifted restrictions on Wells Fargo& Co.' s growth, allowing the troubled bank to make more loans during the coronavirus crisis and giving it a chance to improve its tarnished reputation. The bank's lending capacity has been limited by a $1.95 trillion cap on assets imposed by the Fed in 2018. The bank will now be able to exceed that overall limit via loans it makes through two of the government's small-business lending programs, the central bank...

  • Stocks Rise After Bout of Volatility

    By Anna Isaac, Chong Koh Ping and Karen Langley. U.S. stocks rose Wednesday, building on their gains for the week, as investors parsed signs that the spread of the coronavirus could be stabilizing in hard-hit locations. The Dow Jones Industrial Average added 713 points, or 3.2%.

  • Stocks Rise After Bout of Volatility

    By Anna Isaac, Chong Koh Ping and Karen Langley. U.S. stocks rose Wednesday, building on their gains for the week, as investors parsed signs that the spread of the coronavirus could be stabilizing in hard-hit locations. The Dow Jones Industrial Average added 476 points, or 2.1%.

  • Fed's Evans Sees Coronavirus Casting a Long Shadow on Economy

    Federal Reserve Bank of Chicago President Charles Evans said he's expecting substantial economic pain during the second quarter due to the coronavirus crisis and warned that because companies and households are expending savings and other resources to hold on, that could weigh down a hoped for recovery. "It's important to remember that we entered this crisis with solid economic fundamentals. We have a good base to build on, "Mr.

  • Fed Eases Wells Fargo's Asset Cap to Lend to Small Businesses Harmed by Coronavirus -- Update

    The Federal Reserve temporarily lifted restrictions on Wells Fargo& Co.' s growth, allowing the troubled bank to make more loans during the coronavirus crisis. The bank's lending capacity has been limited by a $1.95 trillion cap on assets imposed by the Fed in 2018. The bank will now be able to exceed that overall limit via loans it makes through two of the government's small-business lending programs, the central bank said Wednesday. The cap will remain in place for all other types...

  • Tesla Cuts Salaries, Furloughs Workers Under Coronavirus Shutdown

    Tesla Inc. (TSLA) is furloughing workers and cutting salaried employees' pay more than two weeks after it was forced to shut down production of its lone U.S. car assembly factory amid the coronavirus pandemic. The Silicon Valley electric-car maker, in an email to workers late Tuesday, detailed the cash-saving plan along with its hope to resume vehicle production on May 4 in California-- a day after a local-government shut-down order currently is scheduled to be lifted.

  • U.S. Stocks Rise After Bout of Volatility

    By Anna Isaac, Chong Koh Ping and Karen Langley. U.S. stocks rose Wednesday, building on gains for the week, as investors parsed signs that the spread of the coronavirus could be stabilizing in hard-hit locations. The Dow Jones Industrial Average added 563 points, or 2.5%.

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