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MarketWatch MarketPulseAug 14, 2020
Oil futures settle lower for the day, but gain for the week
Oil futures settled lower on Friday on the back of weaker global demand forecasts, but declines in U.S. crude supplies helped prices tally a gain for the week. Right now, "fundamentals are not looking favorable for crude," with pressure from both the supply and demand sides of the market," said James Hatzigiannis, chief market strategist Ploutus Capital Advisors. Prices will likely "be coiling around this area until we see a big catalyst...leading to risk on or risk off sentiment." September West Texas Intermediate oil fell by 23 cents, or 0.5%, to settle at $42.01 a barrel on the New York Mercantile Exchange. Front-month prices rose 1.9% for the week.

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.



MarketWatch MarketPulseAug 14, 2020
GM should spin off electric-vehicle business, Deutsche Bank says
General Motors Co. would do well in spinning off its electric-vehicle operations and capabilities into a standalone company, "which could force the market to recognize its robust EV technology and upcoming (vehicle) lineup," analysts at Deutsche Bank said in a note Friday. That recognition would unlock "considerable" shareholder value, give the new company access to cheap capital to fund expected growth, and provide it the ability to attract and retain talent, the analysts said. GM seems to be considering the option, they said. Tesla Inc. , Nikola Corp. and others have reaped the benefits of that market attention, which stands "in sharp contrast with depressed legacy automakers' value," the Deutsche Bank analysts said. "This is particularly striking in the case of GM and VW, which actually have strong EV capability and upcoming product plans," they said. This "reflects massive investment flows towards vehicle electrification startups, at the expense of incumbent industry participants, and raises the question of how to get investors to recognize the value of electrification technology within large legacy organizations." The analysts reiterated their buy rating on GM, and kept their price target on the stock at $33, saying that an EV spinoff "could boost it considerably further." GM shares have lost 24% this year, contrasting with gains around 4% for the S&P 500 index in the same period.

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.


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