Asian stocks were set for gains on Tuesday after a strong Wall Street session as easing lockdown restrictions by some countries and U.S. states buoyed sentiment, despite another decline in oil prices.
Oil fell on Tuesday, adding to huge declines in the previous session, on worries about limited capacity to store crude worldwide and expectations that fuel demand may only recover slowly as coronavirus pandemic restrictions are gradually eased.
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.
Oil prices slumped on Tuesday, extending the previous session's slide, on worries about limited capacity to store crude worldwide and expectations that fuel demand may only recover slowly as coronavirus pandemic restrictions are gradually eased.
Major U.S. wireless firms said on Monday they will extend a commitment through June 30 not to cancel service or charge late fees to customers who have been impacted by the coronavirus pandemic.
"You want to remember this list the next time the market rolls over," the "Mad Money" host said.
National Australia Bank Ltd , the country's No.3 lender, asked investors for A$3.5 billion ($2.2 billion) and slashed its dividend on Monday as its first-half profit tumbled in part due to charges associated with the coronavirus pandemic.
A majority of U.S. companies expect to stay afloat for more than six months without government assistance, according to a survey on Monday, even though the novel coronavirus outbreak has severely disrupted economic activity and hit cash flow.
Asian shares bounced on Monday as the Bank of Japan (BOJ) announced more stimulus steps to help cushion the economic impact of the coronavirus, while oil took another spill as the world ran short of space to store it.
Oil prices fell on Monday on signs that worldwide oil storage is filling rapidly, raising concerns that production cuts will not be fast enough to fully offset the collapse in demand from the coronavirus pandemic.
The Federal Reserve's gradual withdrawal from the U.S. Treasury market as the coronavirus pandemic eases and liquidity improves could dry up appetite for longer-dated government debt and push up long-term interest rates months from now.
A little-known U.S.-based engineering and design firm said it plans to invest 10 billion yuan ($1.41 billion) to make sports cars with China's FAW Group under the brand of choice of late revolutionary leader Chairman Mao Zedong, Hongqi.
Oil prices fell on Monday on signs that worldwide oil storage is filling rapidly, raising concerns that production cuts will not come fast enough to fully offset the collapse in demand from the coronavirus pandemic.
German companies including ThyssenKrupp, Salzgitter, Bayer, Covestro, E.ON, HeidelbergCement, Puma, Allianz and Deutsche Telekom have called for coronavirus-related state aid to be tied to climate action, daily Handelsblatt reported.
Norwegian Air's proposed financial rescue plan could leave current shareholders with a combined ownership stake of just 5.2%, details of its proposed debt-to-equity swap showed on Monday.