These Airlines, Financial Black Holes for Years, Now Face the Pandemic by MC01 • Jul 13, 2020 • 58 Comments Dogged by everything from bloated costs to corruption.
Moving the Iron amid Sagging Demand: Tesla Cuts Price of Model Y, after Cutting Prices of Model 3, S & X, as Other Automakers Offer Record Incentives. by Wolf Richter • Jul 13, 2020 • 163 Comments The time for deals on new vehicles has arrived.
What Happens If Most Businesses & Consumers Tighten Their Belts at the Same Time? by Nick Corbishley • Jul 12, 2020 • 217 Comments Europe may be about to find out. 128 days with my Mother-in-Law.
“Wild Ride to Nowhere”: APPL, MSFT, AMZN, GOOG, FB Soar to New High. Rest of Stock Market is a Dud, Has Been for Years by Wolf Richter • Jul 11, 2020 • 220 Comments The market has come to totally depend on the “Giant 5.” A scary out-of-whack weight on the way down.
The Great American Shale Oil & Gas Massacre: Bankruptcies, Defaulted Debts, Worthless Shares, Collapsed Prices of Oil & Gas by Wolf Richter • Jul 10, 2020 • 128 Comments The bankruptcy epicenter is in Texas.
QE Unwind Speeds Up: Fed’s Assets Drop $85 Billion. Four-Week Total -$248 Billion. Big Chunk in a Short Time by Wolf Richter • Jul 9, 2020 • 92 Comments Repos & dollar liquidity swaps on their way out. SPVs declined. Hardly bought any corporate bonds & ETFs. MBS flat. Treasuries ticked up.
Unemployment Claims Hit New Record: 32.9 Million State & Federal. Week 16 of U.S. Labor Market Collapse by Wolf Richter • Jul 9, 2020 • 182 Comments Claims by gig workers under federal PUA program soar, now 44% of total unemployment claims. Where’s the “V-Shaped” recovery of the labor market?
No V-Shaped Recovery for Airlines. Ticket Sales Slide Again. United Announces 36,000 “Involuntary Furloughs” by Wolf Richter • Jul 8, 2020 • 179 Comments “Increase in Covid-19 cases negatively impacting industry demand”: United
Pandemic Compresses Brick & Mortar Meltdown: Brooks Brothers Files for Bankruptcy, Ascena (Ann Taylor, etc.) Prepares to File, Tailored Brands (Men’s Wearhouse, etc.) Not Far Behind by Wolf Richter • Jul 8, 2020 • 131 Comments A dozen major brands, thousands of stores, after years of struggling. Work-from-home is annihilating casual and formal office attire.
US House Prices to Drop 6.6% by May 2021, First Annual Decline since Jan. 2012: CoreLogic, Owner of the Case-Shiller Index by Wolf Richter • Jul 7, 2020 • 176 Comments And this, after years of being unwaveringly bullish in its housing market predictions.