199.00 +0.45 (0.23%)
After hours: 7:41PM EDT
|Bid||198.20 x 800|
|Ask||198.58 x 900|
|Day's range||197.87 - 203.13|
|52-week range||130.85 - 250.46|
|Beta (5Y monthly)||1.42|
|PE ratio (TTM)||14.98|
|Earnings date||13 Oct 2020 - 19 Oct 2020|
|Forward dividend & yield||5.00 (2.49%)|
|Ex-dividend date||31 Aug 2020|
|1y target est||249.46|
The job market is deteriorating, as another 837,000 Americans filed for unemployment for the first time last week.
(Bloomberg) -- Goldman Sachs Group Inc. is close to signing a deal to take on General Motors Co.’s credit-card business, according to a person with knowledge of the matter.The deal would let Goldman add its brand to another Main Street business line as its nascent consumer business continues to expand, the person said, asking not to be identified discussing the agreement because it isn’t public.While the transaction is relatively small in the credit-card industry, it’s another sign of the Wall Street firm’s deeper foray into retail banking. That includes small-business loan deals with the likes of Walmart Inc., financing vacation purchases with JetBlue Airways Corp. and a high-profile credit-card tie-up with Apple Inc.The Wall Street Journal reported that Goldman beat out Barclays Plc to take on $2.5 billion in GM loan balances from Capital One Financial Corp., which has been offloading some of its smaller portfolios recently. Buyers of such credit-card deals typically pay a fraction of the total outstanding loan balance. The person familiar with the matter didn’t say how much Goldman would pay.Representatives for Goldman and GM had no immediate comment.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Oil slid to a two-week low as conflicting signals over the prospect of U.S. fiscal relief added to concerns over a recovery in consumption. Futures in New York tumbled 3.7% on Thursday as the dollar bounced off session lows. U.S. benchmark futures settled below its key 100-day moving average for the first time since June, signaling further selling pressure ahead.Chances for a much needed boost in demand remains uncertain, with talks Thursday between U.S. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin yielding no immediate breakthrough on a deal for fiscal relief. At the same time, coronavirus flareups are causing renewed concerns over more lockdown measures, with New York reporting its most virus cases since May, a key public health official in London saying the city is at a “tipping point” and Madrid already adding more restrictions on movement.“The idea of more lockdowns worrying traders and investors, the stimulus in question and the aspect of the technicals too,” are weighing on prices, said Josh Graves, senior market strategist at RJ O’Brien & Associates LLC. “Everything stems back to Covid.”After posting a nearly 6% decline in September, oil is off to a rocky start this month with the combination of weak demand and signs of increased supply from key global producers weighing on markets, including the unexpected return of Libyan output. Saudi Arabia’s crude exports jumped by half-a-million barrels a day in September and Russia’s exports are also expected to increase.Still, the Organization of Petroleum Exporting Countries’ crude production held steady last month as the United Arab Emirates trimmed output in order to better comply with limits set by the cartel.“The move is both fundamental and flow driven and the recent uptick in virus outbreaks has certainly put the already fragile demand recovery back in question,” said Ryan Fitzmaurice, commodities strategist at Rabobank.Other pockets of the market are also showing weakness. WTI’s prompt spread -- the difference in price of the nearest-dated contracts -- fell further into contango on Thursday, signaling concerns of oversupply. In physical markets, Poseidon crude traded at its widest discount to WTI futures in nearly a week.Energy stocks were the worst performing component of the S&P 500 Index on Thursday, falling over 3% as the broader index rallied. All members of the S&P 500 Energy Index dropped, with Valero Energy Corp. among the weakest after a downgrade from Goldman Sachs Group Inc.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.