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Stocks fell on Thursday as grim U.S. unemployment data offset a surge in oil prices and added to the fears surrounding the coronavirus outbreak and its economic ramifications. The Dow Jones Industrials lost 128.56 points to begin the session at 20,814.65. Economists expected another five million to five million workers filed for jobless claims last week as coronavirus-related shutdowns roll through the country. Boston Federal Reserve President Eric Rosengren said Wednesday that Congress likely will have to deliver more stimulus to help those at the lower end of the economic spectrum and to boost small business. New York Gov. Andrew Cuomo also said Wednesday the state’s model projects...

Stocks fell sharply on Wednesday as Wall Street begins the second quarter on a sour note amid mounting concerns over the coronavirus outbreak. The Dow Jones Industrials stumbled 640.28 points, or 2.9%, to 22,276.88. Boeing, Dow Inc and American Express all fell more than 5% to lead the Dow Industrials lower.The broader S&P 500 fell 79.04 points, or 3.1%, to 2,505.55. The S&P 500 was led lower by the real estate, energy, and financial sectors. President Donald Trump said Tuesday evening the U.S. should prepare for a “very, very painful two weeks”...

Stocks were mixed on Tuesday, the last day of the first quarter, as investors wrapped up a period of historic market volatility sparked by the coronavirus pandemic. The market pared losses in morning trading after data showed U.S. consumer confidence dropped less than expected in March. The Conference Board said Tuesday its consumer confidence index dropped to 120 this month from 132.6 in February, beating expectations of 110, according to Dow Jones. Investors continued to grapple with the worsening outbreak in the U.S. as the confirmed cases rose to more than 153,200, according to data from Johns Hopkins University. The U.S. has also officially become the country most affected. The Chicago PMI came in at 47.8 for March, well above estimates of 39, but still signaled a contraction in business activity. Prices for the 10-Year...

To say that gold stocks, particularly speculative ones listed on the TSX-Venture, have gone under-appreciated lately is about as weak of a statement as saying coronavirus has been a little bit of an inconvenience so far in 2020. With the softness in junior gold explorers - despite gold reaching its highest level in over 7 years - raising capital for these upstarts has been as easy fitting a camel through the eye of a needle.Good thing for Northern Superior Resources (TSX-V:SUP), the holder of a large portfolio of high quality assets in Tier 1 jurisdictions in Canada, that it has Michael Gentile, CFA, on its board of directors. Gentile, which came on as a SUP director in December, said in January...

Canada's main stock index futures dropped on Friday as concerns over the fast-spreading coronavirus outweighed stimulus measures undertaken by policymakers.The TSX Composite Index ended up with gains of 231.94 points, or 1.8%, Thursday to 13,371.17. Futures for Dow Jones Industrials sank 665 points, or 3%, early Friday to 21,683. The 30-stock average is now up more than 20% over the past three sessions, a gain that meets the technical definition of a bull market. The S&P 500 also rallied more than 6% and is now up over 20% since Monday’s close as well. Global cases of the coronavirus have surged to more than 542,700 with at least 85,996 in the U.S., according to data...

The Canadian dollar started the Toronto session on a firm footing after rising steadily overnight. FX traders sold US dollars against the major G-10 currencies as positive risk sentiment rippled across asset classes. The positive sentiment is a direct result of the recent fiscal and monetary actions of the G-7. The United States is in the process of passing the most extensive economic stimulus package in history, spending upwards of $2.0 trillion. Close to 150 million Americans could receive government cheques while businesses have access to hundreds of billions in loan programs. The cash-strapped Canadian government answered the bell, announcing an $82-billion stimulus program. The European Central Bank fired a €750-billion quantitative easing bazooka, while the governments of Australia and New Zealand announced stimulus packages of their own. The cumulative effect of the...

Nike Inc (NYSE:NKE) reported stronger-than-expected results for its third quarter on Tuesday. The athletic-wear maker out of Beaverton, Oregon reported Tuesday Revenues increased to $10.1 billion in the third quarter, up 5% on a reported basis and up 7% on a currency-neutral basis, driven by 13% currency-neutral growth in NIKE Direct with digital growth of 36% and strong growth across EMEA, APLA and North America, offset by the impact of COVID-19 on our business in Greater China. Digital sales in Greater China increased more than 30% while brick and mortar retail sales were impacted by temporary store closures related to COVID-19. Said CEO John Donahoe In an extraordinarily dynamic time, NIKE’s strong results are testament to our deep consume...

Stocks rebounded aggressively from a three-year low on Tuesday as investors hoped U.S. lawmakers were close to an agreement on a stimulus bill to rescue the economy from the damage caused by the coronavirus.The Dow Jones Industrials recovered 1,545.51 points, or 8.3%, to 20,137.44.The broader S&P 500 regained 161.19 points, or 7.2%, to 2,398.59. The Dow and S&P 500 closed at their lowest levels since late-2016 on Monday. The NASDAQ hiked 434.7 points, or 6.3%, to 7,297.62.
Chevron gained more than 20% to lead the Dow higher. Boeing, McDonald’s and Disney also rallied more than 10%. Energy was the best-performing sector in the S&P 500, soaring 11.1%, while industrials and financials each jumped more than 9%. Stocks hardest hit by the shutdowns resulting from the coronavirus led the gains...

Mastercard (NYSE:MA) is down 38% in the past month and the stock is now at a new 52-week low. The last time it was trading at these levels was January 2019, fresh off the heels of the downturn that took place late in 2018. The stock is now trading at a price-to-earnings multiple of 27, which is low given that it's normally been trading at over 40 times its earnings. For investors, this could be an opportune time to buy shares of Mastercard. The coronavirus is causing layoffs and people are working reduced shifts. That's going to put a strain on individuals and lead to more credit card spending. While there is a higher risk of default for lenders, with stimulus packages in the works for Americans, the government...