tyb
it's old but still gold.
Market Report-to close out the week
First the actuals.
Stocks ended with strong gains Friday, cementing a positive week, as investors appeared to take comfort in a report that a COVID-19 treatment showed promise and the White House outlined a plan to begin reopening parts of the economy. The Dow Jones Industrial Average DJIA, 2.99% ended around 705 points higher, up 3%, near 24,242, according to preliminary figures, while the S&P 500 SPX, 2.68% advanced around 75 points, or 2.7%, to close near 2,875. The Nasdaq Composite COMP, 1.38% gained 118 points, or 1.4%, finishing near 8,650. The gains left the Dow up 10.6% for the week, while the S&P 500 rose 11.2% and the Nasdaq advanced more than 12%. Boeing Co. BA, +14.54% helped lift the Dow, with shares rising 14.7% after the company said it would slowly resume production. The bounce turned shares positive for the week, leaving them with a 1.4% gain. Boeing shares have fallen nearly 53% in the year to date.
https://www.marketwatch.com/story/dow-ends-more-than-700-points-higher-as-stocks-log-second-week-of-gains-2020-04-17
and Speaking of Boeing
Boeing to restart operations at Philadelphia area plants next week
The company said operations at its Philadelphia plants, which manufacture military rotorcraft including the H-47 Chinook, V-22 Osprey and MH-139A Grey Wolf, would restart on Monday with enhanced safety measures. Boeing said on Thursday it would resume the production of commercial jets next week in Washington state.
https://www.reuters.com/article/us-health-coronavirus-boeing/boeing-to-restart-operations-at-philadelphia-area-plants-next-week-idUSKBN21Z377?
U.S. airlines sitting on $10 billion owed to consumers for canceled flights, lawmakers say
https://www.reuters.com/article/us-health-coronavirus-airlines-refunds/u-s-airlines-sitting-on-10-billion-owed-to-consumers-for-canceled-flights-lawmakers-say-idUSKBN21Z27O
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Something got up the NASDAQ's butt right after 2:36pm EST and it went parabolic with a volley of shorts covering. Oil absolutely SHEDDED today as the forecasts keep coming down as well as a major shift in the big ETF as they will now move 20% of it's contracts to the second traded month. The May contract crashed to a $17 handle intraday (dramatically lower than the $25 handle in the June contract). It means that there is WAYY too much oil in storage (has for awhile now) to take delivery on so they are declining and paying a nice chunk of change to push it forward another month-essentially betting that they can get prices higher by then. Can't admit defeat so let's just roll it all forward and "hope"-where have we heard this before….?
in other oil news
Iraqi Kurdistan To Defer Payments To Oil Firms As Prices Crash
The semi-autonomous region of Kurdistan in Iraq will defer payments to oil companies operating in the region for the oil sales they had made between November 2019 and February 2020, one of those companies, London-listed Genel Energy plc said on Friday, as Iraq and the Kurdistan region are struggling to meet their obligations after the oil price crash.
https://oilprice.com/Latest-Energy-News/World-News/Iraqi-Kurdistan-To-Defer-Payments-To-Oil-Firms-As-Prices-Crash.html
10Y Yields spiked late on Friday as The Fed tapered its QE program again. Muh "Not QE" QE but less of it. See Cap#4. The dollar ended the week about where it was on wednesday after it's move then. Bonds simply shrugged at today' action..except Italy where they are now seeing the spreads getting into TNT territory. They have been impacted much moar than the rest of Europe and the world. Gee I wonder why…..kek-see you Pope "frank"
Some Headlines
JPMorgan says it has $26 billion in small business relief applications that need funding
https://www.cnbc.com/2020/04/17/jpmorgan-says-it-has-26-billion-in-small-business-applications-left.html
Struggling Chesapeake Energy halts dividend
https://www.marketwatch.com/story/struggling-chesapeake-energy-halts-dividend-2020-04-17
https://www.macrotrends.net/2566/crude-oil-prices-today-live-chart
https://finance.yahoo.com/quote/%5EDJI?p=^DJI
https://www.marketwatch.com/investing/bond/tmubmusd10y
https://www.kitco.com/charts/livegold.html
>HB TW..you've helped me/spouse a great deal over the last several years and it has been much appreciated..h/t to you
Net 1 UEPS Tech. Inc. sold by International Value Advisors:$15.23m- Apr 15
Net 1 Ueps Technologies, Inc. specializes in electronic transaction and payment processing services. Net sales break down by activity as follows:
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electronic transaction and payment processing by chip cards (62.6%): primarily to the distribution, online business, bank, money transfer services, health facilities and telecommunication sectors;
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development of electronic payment systems (37.4%). The group also provides primarily financial services.
Net sales break down geographically as follows: South Africa (58.9%), Korea (38.3%) and other (2.8%). Number of employees : 3 146 people.
https://www.marketscreener.com/NET-1-UEPS-TECHNOLOGIES-10275/company/
https://www.finviz.com/insidertrading.ashx?oc=1456417&tc=7
Hedge Fund - International Value Advisers
https://www.insidermonkey.com/hedge-fund/international+value+advisers/386/
another X C-130 Hercules over Northern California from Travis AFB finishing up a wide path that includes Pelosi's Winery, Homes. and then north to the Northern Central Vly. Data incomplete
X marks the spot?
kek
chek't