Saudi Arabia said on Tuesday it would boost its oil supplies to a record high in April, raising the stakes in a standoff with Russia and effectively rebuffing Moscow's suggestion for new talks.
Oil prices jumped by almost 8% on Tuesday, bouncing from the biggest rout in nearly 30 years a day earlier, as the possibility of economic stimulus encouraged buying and U.S. producers slashed spending in a move that could cut output.
New Wells Fargo & Co Chief Executive Charlie Scharf testified on Tuesday that substantial change was underway at the bank as lawmakers grilled him on the status of the bank's remediation plans, consent orders and contingency plans related to coronavirus.
The chair of the U.S. House Financial Services Committee has asked the Justice Department to review whether former Wells Fargo CEO Timothy Sloan broke the law in giving "misleading" sworn testimony to Congress.
Oil prices jumped over 8% on Tuesday, bouncing from the biggest rout in nearly 30 years a day earlier, as the possibility of economic stimulus encouraged buying and U.S. producers slashed spending in a move that could cut output.
Wall Street roared back to life on Tuesday, rebounding from the brink of bear market confirmation as bargain-hunting and hopes of government stimulus calmed investors' fears surrounding the coronavirus and growing signs of imminent recession.
Short interest on the New York Stock Exchange rose 2.74% in late February, the exchange said on Tuesday, suggesting an increase in bearish sentiment in the stock market.
Short interest on the Nasdaq rose 0.3% in late February, the exchange said on Tuesday.
Oil and global equity markets charged back on Tuesday after the prior day's steep losses as the world's biggest economies moved to cushion the impact of the coronavirus, but stock gains in Europe failed to hold as investors remained skittish.
Mexico is seeking to mediate the oil dispute between Russia and Saudi Arabia, its finance minister said on Tuesday, saying the conflict that has battered global oil prices has affected Latin America's second-largest economy.
Here is a list of international sports events hit by the coronavirus outbreak:
Fears of coronavirus and oil price wars have sent the markets into a tailspin in recent weeks. But there is still hope for the long-term economic outlook in the U.S. And individual investors who have a plan should be prepared to weather any storms. Here's how Merrill Lynch Wealth Management is advising its clients.
Leading U.S. airlines on Tuesday ditched 2020 forecasts and unveiled more sweeping capacity cuts and cost-saving measures in response to the spreading coronavirus, while United Airlines warned of a deep hit to the sector.
A highly anticipated trial pitting New York state against McKesson Corp , Johnson & Johnson , CVS Health Corp and others for allegedly fueling the opioid epidemic has been postponed due to the coronavirus outbreak, according to the court.
Fidelity Investments named company veteran Maggie Serravalli as chief financial officer, replacing Gerard McGraw, according to a note viewed by Reuters.