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MarketWatchApr 04, 2020
Dispatches from a Pandemic: ‘If we get coronavirus, it will be in a grocery store!' A survival guide to food shopping in New York — the epicenter of coronavirus
As the CDC reverses its policy on face masks, how to safely navigate a supermarket in Manhattan.

Yahoo BusinessApr 04, 2020
Trump Says He'd Use Tariffs If Needed to Protect Oil Industry
(Bloomberg) -- President Donald Trump ramped up his threats to impose oil import tariffs as renewed diplomatic tension between Saudi Arabia and Russia threatens efforts to reach a new deal to cut output.Trump said Saturday at a White House press briefing he'd use tariffs if needed to protect the domestic oil industry, a day after meeting with U.S. industry leaders. A gathering of OPEC and other major producers scheduled for Monday was delayed until later in the week as Saudi Arabia and Russia traded barbs about who's to blame for the collapse in crude prices.Optimism over prospects for a deal sent benchmark oil futures to a record gain this week, despite an unprecedented global demand loss from the Covid-19 outbreak. A failure to come to an agreement would likely cause prices to crater again. The U.S. oil industry is split on the idea of tariffs, with some independent shale producers -- who've been hardest hit by the recent market slump -- in support, while refiners and large integrated companies are typically opposed.The American Petroleum Institute, which helped arrange Friday's meeting, argues tariffs would inject uncertainty into an already rattled global marketplace."If I have to do tariffs on oil coming from outside, or if I have to do something to protect thousands and tens of thousands of energy workers, and our great companies that produce all these jobs, I'll do whatever I have to do," Trump said Saturday. Low oil prices are "going to hurt a lot of jobs," he said.Measures to stem the coronavirus ou

MarketWatchApr 04, 2020
Will coronavirus survive airborne? Are young people safe? Do face masks protect me? Are men more likely to die? Burning questions on COVID-19
As stock markets leap and plunge and people around the world learn to stay home, outlandish rumors about COVID-19 persist.

Google Business NewsApr 04, 2020
OPEC-Russia meeting delayed until April 9 amid turmoil in energy markets - CNN
OPEC-Russia meeting delayed until April 9 amid turmoil in energy markets  CNNOil set to 'crater' Monday as OPEC meeting delayed, tensions flare between Saudi Arabia and Russia  CNBCTrump says if he has to put tariffs on oil imports to protect energy workers he will  ReutersOil Market Is Desperate for Saudi Arabia to Flatten the Curve  Bloomberg

MarketWatchApr 04, 2020
Capitol Report: Small-business owners express confusion, fear over federal bailout fund
Small-business owners and nonprofit executives told MarketWatch their banks aren't yet accepting applications, while expressing confusion and concern about the terms of the loan and whether it makes sense for their businesses to accept the money at all.

MarketWatchApr 04, 2020
Market Extra: Stock market is headed for choppy waters amid worries that a return to normal will elude the U.S. economy
In some corners of Wall Street, investors are casting doubt on the notion that the economy will switch back to high gear after the coronavirus pandemic passes.

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The Tell: Stock market won't hit coronavirus lows until these 3 criteria are met, says Goldman Sachs (MarketWatch)
Key Words: Ready to buy back into this market? If so, forget about Apple and grab these stocks instead, strategist says (MarketWatch)

Google Business NewsApr 04, 2020
Oil set to 'crater' Monday as OPEC meeting delayed, tensions flare between Saudi Arabia and Russia - CNBC
Oil set to 'crater' Monday as OPEC meeting delayed, tensions flare between Saudi Arabia and Russia  CNBCSaudi Arabia sharply rebukes Russia over oil price collapse  Fox BusinessMexican president calls on Russia, Saudi Arabia to end oil price war  Investing.comOil Market Is Desperate for Saudi Arabia to Flatten the Curve  Bloomberg

Yahoo BusinessApr 04, 2020
Russia Can Reduce Its Oil Output by 10% if the U.S. Joins Cuts
(Bloomberg) -- Russia would target a 1 million barrel-a-day cut in any new deal with other key oil producers, on condition the U.S. joins cuts, according to four people familiar with the sentiment in the industry.The country's President Vladimir Putin, who said that a reduction in global oil production of about 10 million barrels a days is possible and the nation is ready to participate in this "on a partnership" basis, won't agree for Russia to take more than one-tenth of the global cuts, according to one of the people, who spoke on condition of anonymity because the matter isn't yet public.The idea to decrease global production by 10 million barrels a day, in response to the shrinking demand amid the coronavirus outbreak, was initially announced by the U.S. President Donald Trump earlier this week and then echoed by Putin at the meeting with Russian biggest oil producers and government officials.The ministry's press service did not respond to a request for a comment.Russia's cuts of roughly 1 million barrels per day would represent some 10% of the nation's daily average output that reached 11.294 million barrels in March. The wider coalition of oil producers may demand more, in which case Russia may consider a cut of 1.5 million barrels per day, though the Kremlin may not like such a scenario, the other person said.The OPEC meeting to try to end the oil price war is unlikely to go ahead on Monday as previously expected, as Riyadh and Moscow engaged on a war of words about who's to blame for the collapse

MarketWatchApr 04, 2020
Coronavirus update: 1.14 million cases, 60,887 deaths as Cuomo thanks Chinese businessmen for ventilators
The U.S. labor market showed further signs of damage from the coronavirus that causes COVID-19 on Friday as the global case tally continued to extend beyond a million and the death toll passed 55,000.

MarketWatchApr 04, 2020
These 19 companies are working on coronavirus treatments or vaccines — here's where things stand
A mix of legacy drugmakers and small startups have stepped forward with plans to develop vaccines or treatments that target the infection caused by the novel coronavirus.

Yahoo BusinessApr 04, 2020
N.Y. Has Most Deaths in a Day; Italy's Toll Falls: Virus Update
(Bloomberg) -- New York State reported the most deaths in a single day while Italy, the nation with the most fatalities in the world, had the fewest since March 26. Spain plans to extend its lockdown.U.S. deaths rose to more than 7,500 and the global tally exceeds 62,000. At least a half-dozen cruise ships remain at sea with passengers and crew as companies navigate long trips and struggle to find ports willing to let them dock. The big question remains: When, and how, will this end?Key Developments:Global cases top 1.1 million; deaths exceed 62,000: Johns HopkinsBread lines are forming in Mar-a-Lago's shadowThe virus is destroying ed jobs around the worldLandlords in peril as retailers withhold rentCruise ships, linked to the early spread, are still sailingThe maker of Purell gets tariff exclusionsNew York's Deadliest Day (2 p.m. NY)New York, the worst-hit U.S. state, recorded the biggest daily death toll yet, adding 630 fatalities for a total of 3,565, Governor Andrew Cuomo said. One thousand ventilators are due to arrive from China on Saturday. "This is a big deal and it's going to make a significant difference for us," Cuomo said. Oregon donated another 140. "We're not at the apex," Cuomo told reporters. New York City's total rose to 63,306 cases and 2,624 deaths.Read the full story here.Trudeau Plans Trump Call Amid Spat (1 p.m. NY)Canadian Prime Minister Justin Trudeau said he will speak to Donald Trump soon as the U.S. president escalates a battle with allies and 3M Co. over exports of med

Yahoo BusinessApr 03, 2020
Trump's ‘Free Market' Response to a Global Deal to Save Oil
(Bloomberg) -- On Thursday, U.S. President Donald Trump sent oil prices rallying on the prospect of an unprecedented, U.S.-backed deal to cut global crude production.On Friday, he walked out of a meeting with the titans of America's oil industry without any public declaration of a plan to curtail domestic output, saying it's a free market and up to Saudi Arabia and Russia to solve their price war that sent crude crashing.His remarks call into question Trump's ability to broker a truce between the world's two biggest crude exporters at a time when the coronavirus pandemic is destroying demand and threating the shale industry's survival. The president said that tariffs on oil imports could be imposed, though he's not planning to do that at the moment.While both Saudi Arabia and Russia have expressed openness to coordinated production cuts -- and Trump said a deal between the two nations will come soon -- it's unclear that can be achieved without the U.S. and other nations also taking part. Asked whether America would join in, Trump was evasive."It's a free market. We'll figure it out," he told reporters in Washington after the gathering with the heads of Exxon Mobil Corp., Chevron Corp. and other major producers. "Ultimately the marketplace will take care of it."Left to its own devices, though, the market is poised to collapse further as the Covid-19 crisis could slash global crude demand by almost a third. Hundreds of thousands of industry jobs are hanging in the balance, with about $15 billion of investments

RELATED ARTICLES
IEA: OPEC Can't Save The Oil Market (Yahoo Business)

Yahoo BusinessApr 03, 2020
Analysts Share Stocks They Would Buy In This Environment: Exxon Mobil, P&G And More
On CNBC's "The Exchange," Jamie Cox of Harris Financial Group and Charles Bobrinskoy of Ariel Investment spoke about stocks they like in the current market environment.Cox said he keeps asking himself when is he going to buy an integrated oil company, if not when there is an oil price war going, combined with a 30% or more demand destruction. He thinks now might be the right time to start buying a little bit of Exxon Mobil Corporation (NYSE: XOM) or Royal Dutch Shell plc ADR Class A (NYSE: RDS-A) and initiate a position in companies that are well capitalized and have plenty of interest coverage.PreMarket Prep Stock Of The Day: Exxon MobilProcter & Gamble Co (NYSE: PG) is a better company to own and you can pick it up on discount relative to Clorox Co (NYSE: CLX), said Cox. He explained that these stocks pay a similar dividend, but Procter & Gamble has much better interest coverage ratio.Bobrinskoy likes Zimmer Biomet Holdings Inc (NYSE: ZBH). He's trying to find companies that are going to be fine because they're going to have pent up demand. People are currently not doing hip replacement surgeries or knee surgeries so its business is going to be down. Those surgeries aren't canceled, they're just postponed so Zimmer is very well positioned in the long term, said Bobrinskoy.See more from Benzinga * Cramer Shares His Thoughts On Procter & Gamble, Virgin Galactic And More(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights r

RELATED ARTICLES
Market Snapshot: Stocks end lower as worst jobs report in 11 years shows coronavirus already hurting U.S. economy (MarketWatch)
Global stocks edge lower on economic toll from coronavirus, oil rallies (Reuters Business)

USA Today MoneyApr 03, 2020
Dow slides 360 points, capping volatile week as US reports job losses in March
U.S. stocks fell Friday after job gains came to a sudden halt in March as a result of layoffs and a hiring slowdown from coronavirus pandemic.       

MarketWatch MarketPulseApr 03, 2020
UPDATE: COVID-19 case tally: 1.07 million cases worldwide and 55,781 deaths; Italy has highest number of fatalaties
The number of cases of COVID-19 around the world stood at 1.07 million Friday, after passing the 1 million mark late Thursday, while the U.S. case tally passed 250,000 according to aggregated data from Johns Hopkins Whiting School of Engineering's Centers for Systems Science and Engineering. There are now 56,767 fatalaties around the world from the novel coronavirus that has sickened people in 181 countries, the data show. About 223,697 people have recovered. The U.S still has the most number of cases worldwide, at 258,214 and 6,699 deaths. Another 9,428 people have recovered. In Europe, Spain has overtaken Italy in number of cases. Italy, which fell behind Spain in case count earlier, now has 119,827 cases and at least 14,681 fatalaties, making it the highest in the world. Spain has 117,710 cases and 10,935 deaths. Germany has the fourth highest tally, and is now ahead of China, where the virus was first detected in December. Germany has 89,838 cases and 1,230 fatalaties. China has 82,509 cases and 3,326 deaths; France has 59,948 cases and 6,518 deaths. Iran, another hot spot, has 53,183 cases and 3,294 deaths.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



NYTimes BusinessApr 03, 2020
Putin Says Russia Is Willing to Join Oil Production Cuts: Live Updates
Live updates on stock market and business news during the coronavirus outbreak.
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