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Rocky road ahead at Macy’s, potential ‚regional flare-ups,‘ with Covid-19 cases surging in some states
The road to recovery at Macy’s is likely going to be a rocky one because of the coronavirus pandemic. The retailer warned Wednesday that sales are falling again in states such as Texas where Covid-19 cases are on the rise.
Michael Kors owner Capri estimates 70% plunge in first-quarter revenue
Michael Kors owner Capri Holdings on Wednesday estimated a 70% slump in first-quarter sales after the coronavirus hammered luxury sales.
Macy’s reports first-quarter loss but does not expect ‚another full shutdown‘
Macy’s on Wednesday reported a first-quarter loss, in line with the retailer’s previously announced estimates, as its business took a hit from the coronavirus pandemic.
FedEx shares jump over 9% as quarterly results top expectations
Shares of FedEx jumped 9.4% in extended trading on Tuesday after a surge in pandemic-fueled home deliveries helped the U.S. package carrier post better-than-expected quarterly profit and revenue.
U.S. market is ’smoking dope on earnings‘ and investors are likely to be disappointed, economist says
Investors should stay bearish on U.S. stocks until the full extent of the economic damage caused by the coronavirus pandemic is known, according to TS Lombard.
Germany’s Merkel: EU members still far apart on recovery fund, budget
That isn’t comforting news for the euro
Merkel also adds that the EU „must be prepared for Brexit talks to end in failure“.
For EUR/USD, support at around 1.1191-00 remains a crucial spot as it has been since 25 June. Break below that and sellers may look towards the low @ 1.1168 next.
Merkel also adds that the EU „must be prepared for Brexit talks to end in failure“.
For EUR/USD, support at around 1.1191-00 remains a crucial spot as it has been since 25 June. Break below that and sellers may look towards the low @ 1.1168 next.
Risk retreats further ahead of North American trading
European equities down to session lows now
As stocks came back online in European trading earlier, equities tracked lower but have accelerated losses in the past half-hour with the DAX now seen down by 1.5%.
As stocks came back online in European trading earlier, equities tracked lower but have accelerated losses in the past half-hour with the DAX now seen down by 1.5%.
US MBA mortgage applications w.e. 26 June -1.8% vs -8.7% prior
Latest data from the Mortgage Bankers Association for the week ending 26 June 2020
– -8.7%
– Market index 758.9 vs 77.31 prior
– Purchase index 308.7 vs 312.7 prior
Mortgage activity moderates a little further towards the end of June, with purchases seen slipping a little but still keeping at relatively robust levels. Amid the coronavirus situation starting
– -8.7%
– Market index 758.9 vs 77.31 prior
– Purchase index 308.7 vs 312.7 prior
Mortgage activity moderates a little further towards the end of June, with purchases seen slipping a little but still keeping at relatively robust levels. Amid the coronavirus situation starting