Companies across a range of industries are slashing or suspending dividends to cope with the economic fallout from the coronavirus outbreak, complicating the stock selection process for money managers eager to buttress their portfolios with a steady stream of income.
The dollar traded in a narrow range Friday, as weaker economic data failed to trigger a meaningful move in either direction. But the greenback remained set to post a second-straight win thanks to strong gains against both the euro and sterling this week.
Oil prices finished a wild week on a calmer note Friday, ending down about 4%, compared with the astonishing moves in earlier sessions.
SAO PAULO/PARIS - Boeing Co (N:BA) on Saturday said it had canceled a $4.2 billion deal to buy the commercial jets division of Embraer (SA:EMBR3), unraveling years of work on what the Brazilian planemaker expected to be a transformative move.
Weekly jobless claims data from the U.S. are expected to ease from the record highs of earlier this month, while still remaining well above any historical precedent. Purchasing manager surveys in Europe hit new record lows, but markets are supported by the ECB's decision to lend more freely against junk collateral. EU leaders meet to discuss their crisis response again, amid talk of a multi-billion recovery fund, while oil prices extend their recovery. Intel (NASDAQ:INTC) leads the day's list of companies reporting earnings, but Blackstone (NYSE:BX), Eli Lilly (NYSE:LLY) and Union Pacific (NYSE:UNP) will be out first. Here's what you need to know in financial markets on Thursday, April 23rd.