Markets Rebound, Nestle Aims To Sell Waters Business & Airlines Fly Higher | Reality of Winning Prizes on Game Shows - Daily Financial News & Insights for Friday, June 12, 2020 - a podcast by Call Put Strike - Financial News & Insights

from 2020-06-12T21:53:50

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Markets Rebound, Nestle Aims To Sell Waters Business & Airlines Fly Higher | Daily Financial News Summary for Friday, June 12, 2020

Major indexes made a rebound Friday, following a poor trading session on Thursday. The Dow Jones rose by 1.90, the S&P 500 by 1.31%, and the NASDAQ by 1.01%. Despite the gains today, all three indexes have posted their first weekly loss in a month.

Oil fell again, for the second day in a row. West Texas Intermediate fell by 0.2%, settling at $36.26 per barrel. This is the first time that West Texas Intermediate has ended in a loss in the past seven weeks.

Gita Gopinath of International Monetary Fund spoke in a video released Friday about the state of the economy and how its recovery has been slower than expected. She used the words “significant scarring” to describe the economy’s current state. IMF is expected to release an updated global growth projection on June 24. This is to follow April’s projections of a 3% global contraction.

A possible second wave of the coronavirus has hit certain areas in the United States. Texas saw an increase of over 2,500 new cases within a single day yesterday. Arizona, Utah, and New Mexico have all seen a 40% increase in new cases recently. Arkansas, Florida, North Carolina and South Carolina all experienced an over 30% increase in cases last week. Officials in Texas discussed the idea of reinstating the stay-at-home order.

Naeem Aslam from AvaTrade spoke about Friday’s rebound: “I suspect the bounce is a dead cat bounce because the sentiment is further dented by the fresh comments by the chief economist of the IMF who said that the world economy is growing much slower than the anticipation and the scars of the coronavirus pandemic may linger for much longer.”

Consumer sentiment rose in June, for another month in a row. In May, consumer sentiment was at 72.3. This increased to 78.9 in June, above the estimate of 75. This was the largest margin of increase since 2016. This is an indication that consumers are becoming more confident with the condition and future expectations for the economy. Said Richard Curtin of the University of Michigan’s Survey of Consumers: “The turnaround is largely due to renewed gains in employment, with more consumers expecting declines in the jobless rate than at any other time in the long history of the Michigan surveys.”

Nestle announced its plan to sell most of its Nestle Waters business in North America within the next 6-8 months according to inside sources, with the exception of its international brands like San Pellegrino and Perrier. This would include its regional spring water brands, including Poland Spring, Deer Park, and Ice Mountain. It also would include its purified water business and beverage delivery service. Its direct-to-consumer and office beverage delivery service brands include ReadyRefresh by Nestle and the Nestle Pure Life brand would also likely be a part of the final sale.

The Reality of Winning Prizes on Game Shows

Thousands of Americans watch game shows every single day. It can be exciting to answer questions along with the contestants and imaging winning the grand prize. However, it is important to remember that winning prizes on a game show isn’t all that it’s cracked up to be.

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