 | | | | Oil prices fell on Wednesday after U.S. crude inventories rose last week by the most since 2016, while gasoline demand suffered its biggest weekly drop ever due to the coronavirus pandemic. | | | | | | Crude prices posted their biggest-one day gains on record on Thursday after President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of producers to deal with the market turmoil. | | | | | | U.S. stocks rose on Thursday as hopes for a truce in the price war between Saudi Arabia and Russia and a cut oil output drove gains, helping to offset the shocking jump in Americans filing for jobless claims due to coronavirus-led lockdowns. | | | | | | The U.S. recession is here. How long it will last will depend on the course of a viral pandemic that could still kill hundreds of thousands of Americans, and has most of the country under lockdowns aimed at slowing the infection's spread. | | | | | | U.S President Donald Trump said on Thursday he had brokered a deal with top crude producers Russia and Saudi Arabia to cut output and arrest an oil price rout amid the global coronavirus pandemic, though details of how the cut would work were unclear. | | | | | | The U.S. Air Force has recommended the release of up to $924 million in payments to Boeing that were held back due to flaws in the KC-46 air refueling tanker, according to a memo seen by Reuters and a source familiar with the situation. | | | | | | The coronavirus pandemic may have erased around $64 billion of value from Warren Buffett's equity portfolio at Berkshire Hathaway Inc , setting up the conglomerate for one of the largest quarterly losses ever by an American company. | | | | | | Battered S&P 500 stocks may get fresh interest from investors turning to dividends in a world of shrinking bond yields. | | | | | | The financial industry wants the U.S. Securities and Exchange Commission to hold off on parts of a new rule requiring brokers to disclose potential conflicts of interest, citing disruptions caused by the coronavirus, four people with knowledge of the discussions said. | | | | | | The dollar rose for a second straight day against a basket of currencies on Thursday as investors, worried about the prospect of a global recession, continued to take shelter in the greenback. | | | | | |
