Oil drops more than 2% as OPEC meeting on a production cut is delayed

Oil prices dropped during early morning trading on Monday after OPEC+ announced it was delaying its meeting, initially scheduled for Monday, stoking fears on Wall Street that a production cut might face hurdles.

U.S. West Texas Intermediate crude fell 2.86% to trade at $27.53 per barrel, while international benchmark Brent crude slipped 1.7% to $33.53 per barrel. Earlier, U.S. crude futures had fallen about 9%.

Oil surged last week — WTI and Brent are both coming off their best week on record — as Saudi Arabia called a meeting between between OPEC and its allies, known as OPEC+, signalling there

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Cardi B Donates to NYC Healthcare Workers Following a Personal Healthscare

Belcalis “Cardi B Almánzar showed her appreciation to New York medical professionals on the frontlines in the fight against COVID-19 by making a massive meal donation. According to the New York Post’s Page Six, the Grammy Award-winning rapper supplied 20,000 bottles of Owyn, a plant-based vegan meal supplement drink, to hospitals around the city.

Her rep said she wanted to provide sustenance for healthcare workers and ambulance crews who are too busy to have a proper meal in light of the coronavirus pandemic, TMZ reported.

The donation was reported days after the Bronx-born artist admitted herself to an emergency

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China mourns those killed by pandemic, Tesla dismissing contractors

A South Korean woman wears a mask while she prays at the Jogyesa Temple on April 3, 2020 in Seoul, South Korea. South Korea has called for expanded public participation in social distancing, as the country witnesses a wave of community spread and imported infections leading to a resurgence in new cases of COVID-19.

Chung Sung-Jun | Getty Images

This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. This blog will be updated throughout the day as the news breaks. 

  • Global cases: More than 1,099,000. 
  • Global deaths: At least 58,000.
  • Top 5 countries: United
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Coronavirus unleashing an ‘economic shock wave,’ Mark Yusko warns

Hedge fund manager Mark Yusko is telling investors to brace for a nearly once in a lifetime downturn.

The Morgan Creek Capital Management CEO and CIO sees the Great Depression as the closest comparison to what’s happening to the coronavirus ravaged economy. 

“The economic shock wave that’s coming is going to be like nothing that any of us has ever experienced because it’s going to be very similar to the 1930s,” he told CNBC’s “Trading Nation” on Thursday.

Since the Dow hit all-time highs in February, the index has tumbled 28%. The S&P 500 is off 26% since

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How Lisa Price Proves Her Staying Power

How do you build a business that’s successful and resilient enough to make it to its silver anniversary—especially in an industry as fickle as beauty and haircare? In Episode 6 of the SistersInc. podcast, “Proving Your Staying Power,” Lisa Price shares how she did just that with Carol’s Daughter.

The now-iconic brand was born in Price’s kitchen in Brooklyn, New York, back in 1993. In the beginning, she thought of it as a way to make a living from home so she could be there for her family.

“I thought that it would be an alternate way for me

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HSBC, Standard Chartered shares fall

This is a live blog. Please check back for updates.

  • Global cases: More than 856,900
  • Global deaths: At least 42,081
  • Top 5 countries: United States (187,919), Italy (105,792), Spain (95,923), China (82,278), and Germany (71,808)

The data above was compiled by Johns Hopkins University as of 7:58 a.m. Beijing time.

All times below are in Beijing time.

12:20 pm: Investors can do some buying as markets are ‘a lot cheaper,’ says billionaire investor Howard Marks

Oaktree Capital co-chairman Howard Marks is leaning toward a more negative outlook because of the uncertainty from the coronavirus pandemic, but still, he said investors

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Stock futures dip following rebound from coronavirus sell-off

Stock futures pared earlier gains to trade lower early Tuesday morning, following the market’s rebound from its deep rout triggered by the coronavirus pandemic.

Futures on the Dow Jones Industrial Average were 96 points lower, pointing to an implied opening dip of around 121 points at Tuesday’s open. S&P 500 futures and Nasdaq-100 futures also pointed to Tuesday opening losses for the two indexes.

The overnight action followed a strong session on Wall Street, with the Dow jumping nearly 700 points led by an 8% pop in Johnson & Johnson after it announced a vaccine candidate for the coronavirus. The

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