Stocks were up again on Tuesday, as the lockdown restrictions begin to ease around the country, bringing optimism about the fate of the economy. The Dow Jones gained 1%, while the S&P 500 increased by 0.8%. The NASDAQ rose by 0.59%.

In November 2019, LVMH agreed to purchase Tiffany, the jewelry retailer, for $16.2 billion. Due to recent events and the collapse of the economy, the deal between LVMH and Tiffany now seems uncertain to go through. Tiffany’s shares fell 9% Tuesday amid the news.

READ MORE: https://callputstrike.com/2020/06/02/biblical-trump-tech-stumbles-financial-news-insights-summary-for-tuesday-june-2-2020/

On May 25, 2020, a black man named George Floyd was being arrested by a white police officer. The officer kneeled on George’s neck for eight minutes, causing his death by asphyxiation the most current coroner reports allege. Wall Street CEOs took to social media to express their feelings regarding the situation.

The Bank of America has announced that it will be donating $1 billion to support the effort of reducing racism and income inequalities. These issues have been accelerated during the coronavirus pandemic, and the Bank of America is determined to help fight against them.

Said Brian Moynihan, CEO of Bank of America: “The events of the past week have created a sense of true urgency that has arisen across our nation, particularly in view of the racial injustices we have seen in the communities where we work and live. We all need to do more.”

The CEO of Goldman Sachs, David Solomon, spoke to employees of the bank directly. He wanted them to know that he was paying attention and horrified by the recent events that have taken place. He said in a voicemail to the staff: “I am horrified by continued attacks against the black community, highlighted most recently in the U.S. with the deaths of Ahmaud Arbery and George Floyd, and with what Christian Cooper experienced in Central Park in New York City this past Monday. […] So I am asking all of you—even with everything you are going through and everything you are doing—to ‘look up’ and acknowledge what is happening around us. I want you to check in with each other, and be willing to have conversations that may take us outside of our comfort zone.”

The CFO of Citigroup, Mark Mason, is one of the few African American executives on Wall Street. He posted about the events on the company’s website: “Even though I’m the CFO of a global bank, the killings of George Floyd in Minnesota, Ahmaud Arbery in Georgia and Breonna Taylor in Kentucky are reminders of the dangers Black Americans like me face in living our daily lives. […] Racism continues to be at the root of so much pain and ugliness in our society—from the streets of Minneapolis to the disparities inflicted by COVID-19 … These systemic problems will not go away until we confront them head-on.”

READ MORE: https://callputstrike.com/2020/06/02/how-wall-street-ceos-reacted-to-george-floyds-death/

Protests Erupt Across America & SpaceX Launches – Financial News & Insights for Monday June 1, 2020

The major indexes rose Monday, after a tumultuous weekend of protests across the United States. The Dow Jones rose by 0.36%, the S&P increased by 0.38%, and the NASDAQ climbed by 0.66%.

Thousands of Americans in dozens of cities around the country rose up in protest this weekend. They were protesting the death of George Floyd, an unarmed black man who was killed by a Minneapolis police officer. Opinions are mixed in regard to whether these protests will impact the stock market in a major way.

Read more: https://callputstrike.com/2020/06/01/protests-erupt-across-america-financial-news-insights-for-monday-june-1-2020/

The Future of Robotic Banking

Advancements in technology have been making great strides every passing year. The vast number of tasks that are now automated allows humans to live easier. Due to the coronavirus pandemic, robots have been put to work doing jobs that humans would normally do in order to avoid the spread of infection. This includes the banking industry.

Before the pandemic began, banks were already utilizing artificial intelligence in the form of Robo-advisors, chatbots, and cop-bots. Robo-advisors are used when customers are creating a portfolio and investing in a more basic form of securities. Robo-advisors are platforms that calculate the best possible use of your money. They are good for customers who want little to no interaction with their financial advisor.

Chatbots are AI-powered platforms that are able to chat with customers virtually. When a customer logs into their online banking account, they have the ability to chat with a bot, which can answer basic questions. If the customer has a very in-depth question, the chatbot will send the request to a human staff member. The use of chatbots is significantly cheaper than having a human customer service member, and they save a great deal of time.

Cop-bots are used by the banking industry to detect when suspicious amounts of money are moved from accounts. They are designed to flag fraudulent transactions and freeze accounts if need be.

Financial Institutions like Citizens Bank are now enlisting the help of Knightscope’s autonomous security robots to improve their retail location security.

After the state of emergency has been lifted, the banking industry will be re-examining its way of business and analyzing its costs. Many banks are struggling financially right now due to the large number of mortgage defaults that are occurring. Banks will want to automate as many processes as possible, in order to save money.

ATMs can now perform many of the same functions that bank tellers can. Many banks are looking to replace some of their tellers with additional ATM machines. With the new safety guidelines in place, the bank would need to thoroughly clean the machine after each use. In addition to this, banks are looking to introduce more Robo-advisors, but in a more substantial way.

Read more: https://callputstrike.com/2020/06/01/the-future-of-robotic-banking/

China, Twitter, and The World Health Organization – Financial News & Insights for Friday May 29, 2020

The major indexes were mixed Friday, ending a fairly positive week for trading. The S&P 500 rose by 0.48%, while the NASDAQ increased by 1.3%. The Dow Jones dropped by 0.07%. The S&P 500 has gained 4% altogether in May.

Occidental Petroleum had major news Friday, as the company announced that they would be reducing their dividend payout. Trading was paused as the company stated that its quarterly payout will be 1 cent per share. This is down from March 10, when the quarterly payout was at 11 cents per share. The company was forced to make this reduction due to the historically low prices of oil over the last few months. After the pause in trading, shares fell by over 3%. The company has so far lost 68% of its price in 2020.

President Donald Trump’s news conference relating to relations with China took place at 2 pm. This conference was directly related to the approved national security bill for Hong Kong. During the conference, President Trump spoke about working towards eliminating any special treatment towards Hong Kong. However, he did not say that the United States would be retracting their trade deal with China. Phase one of this deal was signed in January 2020. President Trump also did not announce any new tariffs.

Read more: https://callputstrike.com/2020/05/29/china-twitter-and-the-world-health-organization-financial-news-insights-for-friday-may-29-2020/

When first starting at the very beginning, investing can seem like quite a daunting prospect. Stocks, bonds, dividends, options, securities, what does it all mean? When unsure of how to tackle this, the best bet is to talk to a financial advisor. They will set up an investment portfolio, which is comprised of all the things listed above, and more.

Typically a financial advisor will manage the portfolio and send a statement of the activity regularly. However, it is a good idea to be aware of what exactly is going on, and how to work with the advisor to manage the financial risk in your portfolio.

Read more: https://callputstrike.com/2020/04/26/how-to-balance-risk-management-for-investment-portfolios/

Twitter & Social Media Under Fire | Daily Financial News Summary for Thursday, May 28, 2020

All three major indexes were in the green for much of the day on Thursday. However, they all dipped into the red just before the closing bell. The Dow Jones dropped by 0.58%, while the S&P 500 fell by 0.2% and the NASDAQ closed 0.46% lower.

Disney’s shares dropped on Thursday, after a statement from an analyst at Imperial Capital. He was quoted as saying: “[the stock has] risen too far too fast and the performance is due simply to the excitement around the prospects of the domestic theme parks re-opening.” “As such, we are advising that investors take profits, as Disney now looks like a name that should be ‘traded,’ rather than ‘owned,’ at least for now.” Shares of Disney fell by 2.4% after this statement.

Full summary: https://callputstrike.com/2020/05/28/twitter-social-media-under-fire-daily-financial-news-summary-for-thursday-may-28-2020/

Wine Industry Impact from COVID-19

The latest news of companies struggling financially during the global pandemic has come from the United States wineries. With the reduction in purchases and forced closures of facilities, wineries have been feeling the intense pressure of trying to stay afloat during this crisis.

Wineries make much of their revenue by on-site customers and tasting rooms. These have all been shut down since mid-March. As well, direct-to-consumer sales have significantly decreased in recent times. This is expected to continue to some degree after the pandemic, as consumers are not likely to be spending much of their extra money on unnecessary items such as wine.

Wineries have also been faced with paying for extra expenses that were not planned. These include hand sanitizers, extra cleaning products, and face masks for their employees. Many wineries could not afford to keep their employees on during the pandemic. So far, thousands of winery employees have been temporarily laid off.

Full article: https://callputstrike.com/2020/05/19/wine-industry-impact-from-covid-19/

Business Education, Investing, Market Insider, News, Stock Market, Trader Talk,

Stocks continued to rise on Wednesday. The Dow Jones closed at 2.18% higher, the S&P 500 rose by 1.46% and the NASDAQ increased by 0.78%.

Boeing laid off 6,770 employees on Wednesday. This is in addition to the approximately 5,520 voluntary layoffs who will soon be leaving the company. Those who agreed to the voluntary layoffs received a buyout package. Boeing had previously announced that it was planning on reducing 16,000 jobs due to the reduction of both air travel and customer demand. CEO of Boeing, Dave Calhoun said: “We have come to the unfortunate moment of having to start involuntary layoffs. I wish there was some other way.” Shares of the company increased 1% after the announcement.

Marriott International has announced that they will be furloughing more staff and continuing their reduced work week. This reduction in hours started in March and is expected to last until October at least. Marriott representatives warned that there will likely be a large number of layoffs this year because they are expecting the effects of the pandemic on the hospitality industry to last until after 2021. The company stated that the coronavirus is impacting them more than the 2008 recession and 9/11 did, combined.

Read more: https://callputstrike.com/2020/05/27/spacex-launch-grounded-daily-financial-news-summary-for-wednesday-may-27-2020/

Investing in Index Funds

When you decide to invest in the stock market, you will likely start paying more attention to financial news and updates. At this point, you will start hearing about index funds. What exactly are index funds, and how do they relate to a market index?

Read more: https://callputstrike.com/2020/05/20/investing-in-index-funds/

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Call Put Strike: Daily Financial News Summary for Tuesday May 26, 2020 

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Stocks were up Tuesday after a long weekend for Memorial Day. The Dow Jones rose by 2.2%, the S&P 500 increased by 1.3%, and the NASDAQ climbed by 0.2%. The Dow Jones, the S&P 500 and the NASDAQ are all currently on track for a monthly gain in May. The S&P 500 exceeded 3000 earlier on Tuesday, which is the first time since early March. In addition, the S&P 500 also broke above its 200-day moving average. All these signs are pointing to a shift from a bear market to bull market.

President Donald Trump tweeted Tuesday: “Stock Market up BIG, DOW crosses 25,000. S&P 500 over 3000. States should open up ASAP. The Transition to Greatness has started, ahead of schedule. There will be ups and downs, but next year will be one of the best ever!”

Novavax, a biotechnology company, announced that they are currently starting a clinical trial with a Covid19 candidate. The company is expecting to receive trial results in July. They also could have a vaccine ready for emergency use by the fall. There are currently 10 vaccines in clinical evaluation and 114 in pre-clinical evaluation. Novavax’s shares increased by 20% in premarket trading.

The NYSE partially reopened Tuesday, for the first time since late March. 80 floor brokers were allowed to enter, which is approximately 25% of their usual numbers. Anyone entering the building is required to get their temperatures taken, and sign legal documents stating that they understand the risks and rules of coming back to work. The rules prohibit anyone from using public transportation to arrive.

The optimistic signs that the economy is reopening caused bank stocks to increase. Citigroup and Wells Fargo both increased by over 9%. The Bank of American and JPMorgan both rose by 7% as well. Consumer confidence in the economy has increased to 86.6 in May, from 85.7 in April.

Investors are paying close attention to the tensions between China and the United States. Over the weekend, Robert O’Brien, White House National Security Advisor announced that the United States could impose sanctions on China. This could happen if Beijing gains more control over Hong Kong through a national security law.

Data from the Transportation Security Administration showed that the number of travelers has increased in recent days, possibly due to the holiday weekend. Over 250,000 travelers passed through checkpoints on Saturday and Sunday of the long weekend.

Data from the hospitality firm STR also showed an increase in hotel occupants. The week ending May 16 saw an occupancy rate of 32.40%. This is an increase from 21.0% the month before.

The National Basketball Association (NBA) is currently in talks about returning in July. They are discussing the possibility of playing games at Disney’s ESPN Wide World of Sports Complex in Florida. Nothing is confirmed as of yet. The league was forced to suspend their season in mid-March due to the coronavirus.

We then take a deeper dive into the job outlook for recent grads in our daily trends & insights report. 

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