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Hertz car-rental company reportedly prepping for possible bankruptcy

Hertz is preparing for a potential bankruptcy filing, The Wall Street Journal reported Wednesday.The situation is fluid, sources told the paper, as the company hopes to reduce lease payments by May 4.The company laid off 10,000 employees — more than a quarter of its total workforce — in April.Visit Business Insider's homepage for more stories.To get more news about wikifx, you can visit wikifx news official website.
  Car-rental company Hertz is preparing for a potential bankruptcy filing, The Wall Street Journal reported Wednesday, as the coronavirus pandemic brings nearly all travel to a standstill.People familiar with the matter told the paper that Hertz is working to reduce its debt payments and is in talks on a forbearance agreement that could help it avoid bankruptcy. The situation remains fluid, according to the Journal's sources.Hertz did not immediately respond to a request for comment from Business Insider. Shares of Hertz declined more than 15% in trading Wednesday, as broader indices rose, following The Wall Street Journal's report.
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  The news of a possible bankruptcy arrives two days after Hertz on Monday said in a regulatory filing that it “did not make certain payments” on its operating lease as it remains in discussions with lenders to reduce its payments. If those discussions aren't fruitful by the first week of May, “Hertz could be materially and negatively impacted,” it said.Earlier in April, the company laid off 10,000 workers — about 26% of its workforce at the end of 2019 — “in an effort to align staffing levels with travel demand.”Ryan Brinkman, an analyst at JPMorgan, theorized on April 23 that government assistance could help Hertz remain solvent. “We do think a potentially large amount of cash could be made available to Hertz from the federal government, potentially solving any liquidity concerns, although we are also uncertain with regard to the terms,” he said in a note to clients.if you want know more,Download wikifx

 
 
 

Gold Continues to Fall as Risk-aversion Sentiments Decline

Gold price has been falling for the third straight day, as global governments‘ measures of reopening economy and the stock market’s rally reduced part of the markets risk-aversion demands.To get more news about wikifx, you can visit wikifx news official website.
  Investors are closely following the stimulus measures governments and central banks will implement to revive economy.
  In addition, statistics also show that China and India‘s gold imports have declined starkly, as lockdown measures and spiking gold prices dampen consumers’ demand of the precious metal. According to data from General Administration of Customs People‘s Republic of China (GACC), China’s Gold imports dropped over 80% in March and over 60% in the first quarter this year.
  China imported only 17.5 tonnes of gold in March, the lowest level recorded by GACC since January, 2018. Similarly, Indias gold imports are also near historical low.if you want know more,Download wikifx
 


Gold Continues to Fall as Risk-aversion Sentiments Decline

Gold price has been falling for the third straight day, as global governments‘ measures of reopening economy and the stock market’s rally reduced part of the markets risk-aversion demands.To get more news about wikifx, you can visit wikifx news official website.
  Investors are closely following the stimulus measures governments and central banks will implement to revive economy.
  In addition, statistics also show that China and India‘s gold imports have declined starkly, as lockdown measures and spiking gold prices dampen consumers’ demand of the precious metal. According to data from General Administration of Customs People‘s Republic of China (GACC), China’s Gold imports dropped over 80% in March and over 60% in the first quarter this year.
  China imported only 17.5 tonnes of gold in March, the lowest level recorded by GACC since January, 2018. Similarly, Indias gold imports are also near historical low.if you want know more,Download wikifx
 


WikiFX&8+ Must-have Forex Markets Insight Tools are with you in the fight against coronavirus!

After WikiFXs investigation, traders are more interested in the latest forex news and forex analysis articles. This article will present the eight functions of WikiFX APP in details so that users can better understand the APP and acquire the forex knowledge they need.To get more news about EXNESS, you can visit wikifx news official website.
  1. 24 hours#real-time updated market info& Economic News Calendar
Go to the APP home page and click “ALL”to select News Express, which displays two items, New Flashand Calendar. Click News Flash, and you will see the screen scrolls with the latest real-time forex information in 24 hours. The information is showed in two colors, red and black, indicating the degree of importance of the information.

  Calendar shows the Economic News of each country on the same day, and you will see detailed information and explanations for every piece of financial information.
2. Daily Gurus' Analysis

  WikiFX has invited 15+ gurus with highly reputation in the forex industry, and they have long-term cooperation with WikiFX and continuously bring the latest forex information on WikiFX official website. Their articles focus on the current investment environment analysis. For example, the influence of epidemic on forex; why is oil cheaper than water, etc.
3. WikiFX Forum

  This is a very good place, where you can post your opinions, articles and questions about forex whether you are a trader or broker. To attract more people to follow your posts. Even you can get comments and suggestions from strangers. Each post will be reviewed by WikiFX staff in order to prevent advertisements, false investment advertisements and any information from illegal brokers and make sure that the forum is a safe and reliable place for you to speak freely.
4. Spread Comparison

  Go to the APP home page and click “ALL”and choose “Spread”, you will see 85 brokers, with the spread of EUR/ USD, gold and crude oil. The list is a good reference for you when you are going to choose brokers. You can know the real-time price and choose the best broker to trade.
5. $1/M EA Cloud Host Trading Tool

  Generally, forex is traded in two forms, manual and EA. WikiFX is going to launch a global EA cloud host on July.2020. WikiFX EA cloud host is the first cloud server tailored for forex trading. With preinstalled MT4 and MT5 trading software, the cloud host uses a remote Windows desktop to operate multiple EAs of forex traders in 24 hours. At the same time, WikiFX shield system released with the EA cloud host together will also be installed to perform real-time detection and analysis of EA data.

  At that time, you can enjoy more convenient and fast forex transactions by EA cloud server with a cost of only $1 a month.
6. Daily Experts' Analysis

  WikiFX has exclusive experts, who provides professional and real time technical analysis on gold, crude oil and forex for users.You can freely learn how to trade gold, crude oil and forex on the APP.
7. Global Brokers Ranking

  WikiFX APP releases global brokers rankings, such the top 50 brokers and the top 50 illegal brokers in the world. This function can help investors better distinguish reliable brokers and scam brokers.
8. Calculator

  In order to make it easier for traders to know the accurate exchange rate, WikiFX offers the convenient function - Calculator, by which you can quickly check the exchange rate of the currency you need.if you want know more,Download wikifx


GBP/USD Will See More Volatile Market Trend

Coming into May, its likely that GBP/USD will eventually see greater volatility.To get more news about wikifx, you can visit wikifx news official website.

  If Britain and the EU fail to make some progress in the two rounds of week-long trade negotiations,scheduled on May 11th and June 1st respectively, it will have some noticeable impact on the pounds fluctuation before mid-2020.

  After a month of jittering in March, April has been rather peaceful for the pound. GBP/USD once plunged to a 35-year low of 1.1413 in March, while GBP/EUR also fell to 1.0527, a record low in 11 years. But both pairs have experienced some rally afterwards.

  The EU-Britain negotiation regarding new trade measures introduced since January 1st has recently come to a deadlock. June 30th will be the deadline for extending the negotiation, yet the British Prime Minister Boris Johnson has repeatedly emphasized that an extension is unlikely to take place.

  Latest statistics from CFTC show that as of the week ending April 21st, speculators at Chicagos International Monetary Market(IMM) are holding net shorts in pound for the first time in the past 12 months. During the last 6 weeks, speculators have been reducing holdings of GBP long positions.if you want know more,Download wikifx
 


Amazon's earnings report for Q1 2020

Amazon reported its first-quarter earnings on Thursday after the bell.Amazon's sales grew faster than expected as more people shopped online amid COVID-19.But it missed on earnings as COVID-19-related costs across the supply chain increased.Amazon shares dropped about 5% in after-hours trading.Visit Business Insider's homepage for more stories.To get more news about OLYMPTRADE, you can visit wikifx news official website.

  Amazon reported huge growth in first-quarter revenue but a miss on earnings on Thursday.The mixed results show how the coronavirus outbreak is leading to more shoppers on Amazon, albeit at an increased cost as the company is dealing with a number of costly changes, including supply chain lockdowns and warehouse safety upgrades.Amazon stock is down about 5% in after-hours trading.Here are the most important numbers:

  Q1 EPS (GAAP): $5.01 versus expectations of $6.27 per shareQ1 Revenue: $75.5 billion versus expectations of 73.74 billionAmazon Web Services: $10.22 billions versus expectations of $10.29 billionAmazon CEO Jeff Bezos said in an unusually long statement that the epidemic is causing a lot of uncertainties, adding that the company expects to spend all of the $4 billion it's projected to make in second-quarter profits on COVID-19-related expenses.

  “If you're a shareowner in Amazon, you may want to take a seat, because we're not thinking small,” Bezos said in a statement. “Under normal circumstances, in this coming Q2, we'd expect to make some $4 billion or more in operating profit. But these aren't normal circumstances. Instead, we expect to spend the entirety of that $4 billion, and perhaps a bit more, on COVID-related expenses getting products to customers and keeping employees safe.”Amazon clearly saw a massive demand surge as more people bought things online to avoid physical stores during the pandemic. The 26% revenue growth exceeds street estimates of 22%. Paid unit growth jumped 32%, up from last year's 10% growth rate. Even its “Physical Stores” sales, which includes Whole Foods revenue, grew 8% from last year, an unusual spike for a segment that hovered around 1% growth in the past year.Meanwhile, costs increased as Amazon had to put additional safety measures and pay raises across its warehouses. Amazon is hiring 75,000 more warehouse and delivery drivers, after having added 100,000 new employees since March. Shipping costs also jumped 49% to $10.9 billion. Operating income dropped $400 million from last year to $4 billion for the quarter.Amazon's cloud service continues to be a the company's main profit-driver. It reported $3 billion in operating profit, accounting for 77% of Amazon's total operating profit. Meanwhile, AWS crossed the $10 billion quarterly revenue mark for the first time, growing 33% from last year.

  Despite concerns of the pandemic causing less spending on Amazon's advertising service, the segment saw a 44% sales increase to $3.9 billion in the quarter, showing little impact on one of its fastest growing business segments.Amazon's stock hit record highs earlier this month, and was up almost 30% year-to-date, far outpacing the broader market.if you want know more,Download wikifx


BlackRock warns of inflation risk portfolio impact

The biggest risk to investors right now is an unexpected jump in inflation, but it's still being overlooked, according to multiple leaders at BlackRock. The $6.8 trillion investment firm recently flagged the potential damage this event could do to portfolios, and shared its recommendation for how to hedge the risk.Click here for more BI Prime stories. Various Wall Street firms have flagged similar risks that stock-market investors should have on their radars right now. These include a profit slowdown, the US elections, lack of progress on trade, and a corporate-credit crisis. But one risk that is not being talked about nearly enough is inflation, according to BlackRock, the world's largest money manager with $6.8 trillion in assets.This apparent oversight can be explained by the fact that inflation — defined as a sustained increase in prices across the board — has lived below expectations for a long time. The Federal Reserve's favorite gauge of inflation has averaged 1.5% over the past decade according to Bloomberg data, missing its 2% target.Additionally, a separate measure compiled by BlackRock shows there has yet to be an inflation surprise comparable to the oil-price shock of the 1970s. It is represented in the red area chart below.To get more news about PGWG, you can visit wikifx news official website.

Even BlackRock does not consider an inflation shock next year as a likely event. However, multiple leaders worry about the damage such a surprise could do to their clients' portfolios, they are flagging the danger before it's too late.Inflation is “the hidden risk longer-term” given how few investment professionals have experienced it, said Tony DeSpirito, BlackRock's chief investment officer for fundamental US active equities, at a recent media briefing. Marilyn Watson, the head of global fundamental fixed income strategy team, was in agreement along with Mike Pyle, the global chief investment strategist. All three of them had the same response to a question about the most underappreciated risk in the market right now.
A 'high-impact event'Pyle elaborated that their concern is about how inflation would impact diversified portfolios of stocks and bonds.When stock prices fall in a fear-filled climate, bond prices typically rise as investors flock to a safer asset. In other words, bonds and stocks normally have a negative correlation with each other. But if inflation rises above prevailing bond yields, bonds would lose their appeal to investors as a safe haven. This could upend the negative correlation and alter the diversification benefit of bonds, Pyle said.
“That is a really high-impact event — even if it's really low in probability risk — and one that's very unappreciated by market prices,” Pyle said. Higher inflation could stem from a rebound in economic growth — a prospect that would not be far-fetched if more progress is made on the US-China trade front.On Friday, the US announced it agreed to lower the tariff rate on China to 7.5% from 15% and cancel plans to target virtually all imports from that country. Following this news, the bond market's inflation expectation over the next decade — US 10-year breakevens — rose to 1.75%, the highest since July according to Bloomberg data. The big picture still has not changed. So what's an investor to do in order to protect themselves from a real surprise? BlackRock recommends buying Treasury Inflation-Protected Securities, a category of US government bonds that work as advertised because their yields are indexed to inflation. And if you would rather not buy TIPS directly, BlackRock has an exchange-traded fund for you: the iShares TIPS Bond ETF.


US banks make $10 billion processing coronavirus rescue loans:

US banks earned $10 billion in two weeks processing the loans from the government scheme to protect small businesses from financial ruin during the coronavirus crisis, according to an NPR report.The rescue plan worth $349 billion offered businesses loans of up to $10 million to thousands of US companies and were guaranteed by the federal Small Business Administration.The banks charged a transaction fee of 5% on loans worth less than $350,000, while on loans worth between $2 million - $10 million, the cost was 1%.The banks defended the massive windfall of loan transaction fees, saying that processing the loans involved complicated vetting procedures.Treasury Department guidelines are less rigorous than for regular loans, and the taxpayer provides the funding, so there is little risk for the banks.Visit Business Insider's homepage for more stories.To get more news about wikifx, you can visit wikifx news official website.
  Banks have earned a quick $10 billion processing US government loans to small businesses affected by the coronavirus crisis, according to a new report.The $350 billion rescue program aims to funnel cash to small businesses distressed by the economic blows of the COVID-19 crisis.In two weeks, banks including JP Morgan, Bank of America, and PNC Bank vetted thousands of applications for federal loans of up to $10 million. Transaction charges start at 5% for loans under $350,000, reducing to 1% for loans between $2 and $10 million, according to NPR.The loans are guaranteed by the government, and the guidelines issued by the Treasury Department indicate that they require less vetting than regular loans. There is no risk to the banks which are merely the middlemen.
  The banks have defended the costs, arguing the vetting process for each loan can still be complex. In an email statement seen by NPR, Bank of America said the program included “collecting, personally examining, and storing data” that is required for each application.One example highlighted by NPR was on April 7, when the parent company of Ruth's Chris Steak House, RCSH Operations LLC, received a loan of $10 million. JPMorgan Chase & Co., took a $100,000 fee on the one-time transaction for which it assumed no risk.The scheme, known as the Payment Protection Program (PPP), exhausted its funds last week. Aimed at small businesses with less than 500 employees, it was hit with controversy as larger companies exploited loopholes to tap into it.
  Some large, well-funded companies were granted millions of dollars from the $350 billion pool of funding, while many small, mom-and-pop shops were unable to access any funding at all, sparking public outrage.The initial PPP funding was snapped up in less than two weeks. Congress has now approved an additional $310 billion and new loans will be issued again starting next week.


Stock market crash: Weak profit growth and recovery risk a new plunge

Andrew Lapthorne, the global head of quantitative research at Societe Generale, is skeptical of forecasts for a “perfect” v-shaped recovery in corporate earnings. The consensus forecast among analysts is that by the end of 2021, profits will be growing at nearly the same rate as they were in late-2019.Lapthorne considered the unique nature of this crisis and concluded that the consensus is too optimistic.Click here for more BI Prime stories.To get more news about Lockwood, you can visit wikifx news official website.
  Wall Street's expectations for recovery from the coronavirus crisis seems too good to be true. That's according to Andrew Lapthorne, the global head of quantitative research at Societe Generale. He is skeptical that the stock market's strong rebound from its trough in March matches up with the reality that will unfold in the months ahead. In particular, Lapthorne is skeptical of the “perfect” recovery that is reflected in real-time consensus forecasts for earnings, the biggest long-term driver of stock prices. Data he compiled shows that analysts expect global profits to fall by 21% this year and then rise 21% in 2021.In other words, the prediction is that economic conditions will recover so quickly that by December 2021, corporate profits will be back to where they were when COVID-19 began to spread in late-2019.
In the alphabet soup of economic scenarios, analysts expect a V-shaped recovery that is turbocharged by effective containment of the outbreak and abundant government stimulus.Many countries around the world are clearly not close to fully reopening their economies. But the latter condition — stimulus — has been successful and unprecedented, ranging from the Federal Reserve's purchases of select junk-rated corporate debt to the checks wired straight to Americans' accounts.
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  This helps explain why the S&P 500 has already retraced more than half of its losses after its fastest 30% decline ever. Once again, investors are buying equities knowing fully well that the Fed is ready to act as lifeguard.
  “Yet there is zero evidence historically that markets can go up on a sustained basis whilst profits continue to slump,” Lapthorne said. “Equity markets may have bounced but investors still seem to be positioning themselves for a drop.”For proof of the ongoing risk to corporate profits, keep tabs on what companies are doing with their cash. Goldman Sachs strategists estimate that cash spending among S&P 500 companies will fall by a record 33% to $1.8 trillion this year. The decline includes cuts to dividends — another area where proof of cashflow constraints can be found. By adjusting for the expected drop in EPS this year, UBS estimates that the median S&P 500 dividend will fall 28% to $1.47. The largest expected dividend reductions are in cyclical sectors like energy and materials.Lapthorne is not the only strategist concerned that earnings expectations are still too high, even though they have been reined in by the pandemic.
  “We are concerned 2021 numbers now need to be cut more aggressively,” said Lori Calvasina, the head of US equity strategy of RBC Capital Markets, in a recent note. Her 2021 EPS forecast that factors in a “healthy economic recovery and margin expansion” is $153, below the consensus forecast for $170.In addition, she noted that several executives have told analysts on earnings calls that the journey to get the economy back to its pre-coronavirus strength will be slow and uneven. These observations contrast the market's march higher — at least in Lapthorne's books. And the mismatch is one that may be corrected by another sell-off.


Asian stocks and US futures tank as US crude drop 14% and Brent crude falls 4%

Asian stocks and US futures took a hit as oil prices dropped another 14% on Tuesday, despite optimistic rises in US stocks as states prepare to re-open.Oil futures slumped after the largest U.S. oil exchange-traded fund said it would sell all its front-month crude contracts to avoid further losses as prices collapse.MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3%. Shares in China fell 0.7% and South Korean shares fell 0.22%.U.S. crude skidded 14.24% to $10.96 a barrel while Brent crude fell 4.05% to $19.18 per barrel.Visit Business Insider's homepage for more stories.To get more news about TurboForex, you can visit wikifx news official website.
  TOKYO/NEW YORK (Reuters) - Asian shares and U.S. stock futures dipped into the red on Tuesday, erasing earlier gains as a renewed decline in oil prices overshadowed optimism about the easing of coronavirus-related restrictions seen globally.MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3%. Shares in China fell 0.7% and South Korean shares fell 0.22%.Oil futures slumped after the largest U.S. oil exchange-traded fund said it would sell all its front-month crude contracts to avoid further losses as prices collapse.Some investors are hoping the worst may be over for the world economy as more countries allow businesses to re-open, but others see reasons to remain cautious, especially as a coronavirus vaccine has yet to be developed.
  “We are less optimistic and expect a slower recovery in the world economy,” Commonwealth Bank of Australia said in a research note.“The risk of reintroducing restrictions is a risk to market participants' optimistic outlook for a quick resumption of normal economic activity.”All three major U.S. stock averages advanced on Monday and are all now within 20% of their record closing highs reached in February.The benchmark S&P 500 is on track for its best month since 1987, after trillions of stimulus dollars helped U.S. equities claw back much of the ground lost since the coronavirus crisis brought the economy to a grinding halt.
From Italy to New Zealand, governments announced the easing of restrictions, while Britain said it was too early to relax them there. New York state is not expected to reopen for weeks..Oil prices weakened again on persistent concerns about oversupply and a lack of storage space. The front-month contract was trading at lower-than-usual volumes on Monday as traders moved to later months in futures contracts.U.S. crude skidded 14.24% to $10.96 a barrel while Brent crude fell 4.05% to $19.18 per barrel.
  Shares of United States Oil Fund LP , the country's largest crude ETF, fell more than 16% on Monday, after it said it would sell all of its front-month crude contracts to avoid a repeat of the heavy losses suffered last week.The U.S. dollar and the euro were little changed as traders refrained from taking big positions before a Federal Reserve policy decision due on Wednesday and a European Central Bank (ECB) meeting Thursday.The Fed has already announced a raft of measures to lessen the economic blow from the coronavirus pandemic and is expected to stay on hold this week.The ECB is likely to extend its debt purchases to include junk bonds and provide a backstop for corporate financing.
  Major central banks have responded to the economic slump caused by the coronavirus by slashing interest rates, buying more government debt, and taking steps to increase lending to small companies.Elsewhere in currencies, the Australian dollar traded near a six-week high of $0.6472 as investors continued to cheer the country's progress in containing the coronavirus.Gold, a safe-haven often bought during times of uncertainty, fell for a third consecutive trading session in signs of improving risk appetite.(Reporting by Stanley White in Tokyo and Chibuike Oguh in New York; Editing by Sam Holmes)