Weekly Report: Dow 23, 723; Us Stocks Best Month Since 1987; More [May 3 2020]



Dow Close  23,723, Almost No Change From Close 23, 775 Last Week
  • U.S. Stocks Best Month Since '87
  • Berkshire 50B Mega Loss;
  • Tesla Profit;
  • Musk Tweets;
  • Google Ad Dip March;
  • Bond King Says New Lows;
  • Warren Buffett;
  • Fed 0% Rate Pledge;
  • Trump Bailout Oil;
  • Us GDP -4.8% 1Q;
  • Facebook Apps 3 B In Usage; 
  • Europe Recession;
  • Treatment Hope;
Dow Jones Industrial Average Close

Monday  24,133 +358 Points
Tuesday 24,101 − 32 Points
Wednesday 24,633 +532 Points
Thursday 24,345  −288 Points
Friday 23,723 −622 Points

Stock Market Rebounds - Best Month Since 1987
"The nearly 13 percent gain this month means the S&P 500 is now up roughly 30 percent from its March 23 low." 
U.S. Stocks Have Their Best Month Since 1987


Fed pledges to keep rates near zero..

Trump Bailout

President Trump reportedly mulls bailout for oil industry

Trump set to unveil bridge loans, emergency lending for oil firms


US GDP -4.8% in 1st Q..

US Jobless Claims


Jobless claims hit 30 million, likely bringing unemployment to Great Depression levels

US Spending

US consumer spending plunges a record 7.5%

Europe recession begins..

Europe's economy just had its worst quarter since records began

ECB's Lagarde: Eurozone economy could shrink 5% to 12% in 2020 

Treatment Hope?

Data from remdesivir coronavirus drug trial shows 'quite good news': Dr. Anthony Fauci

Gilead to produce 1m courses of remdesivir by year’s end

Gilead "Slapped With Downgrades"..


New Zealand and Australia open up after coronavirus success 

GM, Ford and Fiat Chrysler target May 18 U.S. restart date: WSJ 

Dubai Likely to Start Opening for Tourists at Beginning of July 

New York, other states start to make plans for reopening

Turkey Considers Restart to Economy With Domestic Flights in May

New Zealand claims 'elimination'..

Biggest Mall Operator in U.S. Plans to Reopen 49 of Them


Berkshire Hathaway $49.7 Bil. Mega Loss In 1Q..

QTR 1, 2020, RPT [PDF Warning]

Exxon $610M in Q1...

Nissan warns of nearly $900m loss as sales collapse

Ford $2B..

SoftBank $6+ BIL Writedown "WeWork"

Criminal Probes..

Prosecutors, Regulators Probe Boeing 737 MAX Production Issues.. | WSJ


Shell cuts dividend for first time since WWII, shares dip

Exxon Mobil maintains dividend

Harley-Davidson mises earning, cuts dividend; stock up..

Companies Are Suspending Dividends at Fastest Pace in Years 

Lots of Companies Cut Dividends in April. Here Are Some Big Ones That Didn’t

Warren Buffett

Warren Buffett: Reveals Big 50B Loss; Doesn't Know What's Next For Stocks; Gives Praise For Fed Powell; Dr. Fauci; And More

Bond King

‘Bond King’ warns the stock market could hit new lows amid ‘social unease’

Stock Market Lows?

World’s Richest Are Waiting for New Dip in Stocks Before Buying

Expert who called the 2008 crisis says the signal to sell stocks is coming soon

Will stocks tumble back to their March coronavirus lows? 92 years of S&P 500 history say there’s a good chance

Tesla Profit, Elon Musk, Einhorn 


Tesla surprises Wall Street with first-quarter profit, stock rallies 9%

Tesla's Musk nears $750 million options payday ahead of results 

Tesla CFO: Vehicle order backlog 'highest ever'


Einhorn Questions Musk’s Accounting..

Einhorn’s Greenlight Hedge Funds Deepen Slump With April Decline 

Elon Musk

...Lambasts 'fascist' coronavirus stay-in-place orders

Musk vs. Zuck: A tale of two CEOs acting much differently..


Elon Must Tweet Drama >>> Tesla -10% As CEO Elon Goes On Social Media Writes 'Price Too High'

FT Alphaville..

Elon, u ok hun?

Mark Cuban

Mark Cuban: If I had to start a side hustle now to make extra money, this is what I’d do

Jim Rogers

Investment biker Jim Rogers desperate to hit the road

Carl Icahn

Carl Icahn, who’s made a large bulk of his fortune in energy, has a new play in the industry

Tech Stocks, FAANG stocks, App Stocks, Social Media, Domains


Amazon Q1 beats on net sales of $75.5B but posts net income of $2.5B, down $1B on a year ago

Amazon sees possible second-quarter loss as it forecasts $4 billion in COVID-19-related costs


Apple raises dividend by 6.5%

    "Earnings: $9.87 per share, adjusted    Revenue: $41.16 billion    Cloud revenue: $2.78 billion    YouTube advertising revenue: $4.04 billion    Traffic acquisition costs: $7.45 billion"

Alphabet Spikes 8% In After-Hours On ‘Better-than-Feared’ Q1 Results

Google Stock Pops On Views As COR-V Hit On Ads Not As Bad As Feared

Ad slowdown 
"Slowest Rev Growth nearly 5 yr..Ad Rev Slowest since atleast 2010 ...Ad Rev grew 10% to  33.7B.."

Alphabet grew more than expected in Q1, but its ad business saw ‘significant slowdown’ in March

 “In March, we experienced a significant and sudden slowdown in ad revenue” - Google Top Boss
Travel Ad Spend Dips
"Travel companies like Expedia Group and Booking Holdings normally spend heavily on Google search ads, since so many travelers search for trips with terms like “flight to London” or “hotel in San Francisco.” But Expedia recently said it normally spends $5 billion on ads, but that it probably “won’t spend $1 billion” this year"

April Trends
"Alphabet Chief Financial Officer Ruth Porat still warned that she anticipated "the second quarter will be a difficult one" because the early April trends may not hold."
Google ad sales steady after cv19 drop..

Alphabet's Google Ad Cliff Is Manageable, for Now

Cloud @ Google

Google Cloud revenue increased 52% to $2.78B in Q1, driven by “significant growth” in Google Cloud Platform and “ongoing strong growth” in G Suite

[hat tip techmeme.com]

Google Cloud, YouTube Expansion..

Google More

Google makes Meet free for all users, sending Zoom shares down 7%

Makes 200 Day Moving Average Move..

Amazon Drama

US Senator Wants Criminal Investigation And Now 5 Amazon Sites Put On US’s Notorious Markets List

Alleged "misleading testimony.."

CEO now called to Congress...


Facebook jumps after reporting strong ad revenue, active users 

Facebook +6.4%; usage tops expectations in Q1

Facebook shares soar on ‘signs of stability’

Facebook CFO: 'We had a steep decline in ad revenue in March'

Facebook's Usage Is Hot; Future Ad Business Maybe Not | WSJ

Facebook  crossed above 200 day moving average..

Facebook Apps Use

FB says 3 Billion 
actively use...

Facebook Apps now used monthly by more than 3b..


Microsoft’s stock rises after company reports 15% sales jump and says cvr had ‘minimal’ impact on revenue

Microsoft growth accelerates as ... boosts cloud business
...CEO Nadella says 2 years’ worth of digital transformation has occurred in 2 months

Uber App

Uber Discusses Plan to Lay Off About 20% of Employees

Uber tech chief quits..

Lyft App

Reducing employee count by 17%


Alibaba to Allegedly Demote E-commerce Chief After Probing Improper Behavior


JD Eyes $3bn Hong-Kong Listing


EBay shares fall after earnings beat

Tech More

Pandemic is turbocharging tech’s appeal for investors

Tech Continues to Dominate

Hot Silicon Valley start-ups sell themselves at a discount

Facebook, Google and Snap have found their knight in shining armor as ad spending craters


Lawsuit claims GoDaddy erroneously charged customers for website builder

Sale of .ORG domain to private equity blocked after outcry



Mastercard sees spending stabilising after lockdown plunge


McDonald's Q1 global same-store sales tumble 3.4%


Dunkin' Brands beats profit and revenue expectations, but Dunkin' U.S. same-store sales miss


Starbucks earnings miss 


PepsiCo adjusted earnings rise as consumers stock up, but company yanks outlook


Gold Drops Toward $1,700 as Economies Show Signs of Restarting 

Gold Buyers Are Forking Over Lofty $135 Premiums for U.S. Coins

Rush for Havens Sparked Record Month for Gold Trading in London


Millennials are piling into stock trading to beat the market..


Arab Oil Kings

MBS: The Rise to Power of Mohammed bin Salman

Saudi Stocks Slump as Minister Warns of ‘Painful’ Measures Ahead



Trump threatens use of tariffs against China as .. retaliation

Trump aims to punish China over pandemic..


'This is pure folly': It's an insane time for Trump to pick (another) fight with China

China Punters

Chinese buyers consider return to international property markets 

Bank of China Clients Said to Lose $1 Billion on Oil Bets

E-Comm Drama..

Chinese e-commerce takes soap-opera turn as scandal surrounds three major players

Cars and Autos

Used Cars Want Buyers..

‘Fire Sale’ of Hertz Rentals Poses Risk to Broader Auto Sector

"Electric Car" Trend

Ford cancels Lincoln electric vehicle program..

Sovereign Funds, Central Banks

Norway’s $1 Trillion Wealth Fund Expands U.S. Stakes Amid Rout

Saudi Arabia buys $500 million stake in Live Nation..

A scandal shakes the world’s largest sovereign wealth fund in Norway..

An Ex-Goldman Bond Trader’s Quiet Rise to Managing $1.6 Trillion In Jpn

India’s central bank offers mutual funds $6bn liquidity line

USA "Small Biz Emergency Aid Program" Drama

USA 'PPP' Small Biz Emergency Aid Program 
Becomes A Joke: 
Aid Goes To Luxury Hotels, Private Schools, Chains, NBA Team

Treasury boss says U.S. will audit small-business loans above $2 million and warns of ‘criminal liability’ for false certifications 

Now DOJ On The Scene..

Small-business owners could face jail time as DOJ launches investigation into loan program

Headlines >>>

The $3.8 trillion municipal bond market looks to Washington for help..

Stocks Are Rising as Economic News Worsens

South Africa Stocks Are on Track for a Record Month

South Africa Cut Deeper Into Junk by S&P as Pandemic Hits Growth

The new taxes coming to pay for all that stimulus spending

Credit Suisse ‘Dream’ Client Luckin Coffee Becomes Nightmare

Supreme Court rules Congress cheated health insurance companies..

Hotels sell credits, offering deep discounts for future stays

Homes 'selling like hotcakes' in 'speedy recovery,' Redfin

Corcoran: Rising mortgage applications are a ‘ray of hope’

New Investors.. Brokerages saw record account openings in the first quarter..

Junk bonds fly off the shelves after Fed boost

 ‘Trolls World Tour’ grosses nearly $100 million on demand — biggest digital movie debut ever

Fears Mount About Inflation Returning With a Vengeance


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