The global oil benchmark ended Tuesday slightly lower under pressure from falling equities, but the losses were contained slightly as top producers considered more output cuts to support prices and the Federal Reserve cut U.S. interest rates to support the economy.
Global equity markets slid on Tuesday and the yield on 10-year U.S. Treasuries fell below 1% for the first time after the Federal Reserve cut interest rates in an emergency move to shield the U.S. economy from the impact of the fast-spreading coronavirus.
JPMorgan Chase & Co is asking thousands of U.S. employees to work from home as it tests a contingency plan for closing domestic offices should the coronavirus spread, Bloomberg News reported on Tuesday.
The major indexes are deep in the red after the Fed announced a surprising 50 basis point cut. Wells Fargo Securities Rate Strategist Zachary Griffiths says this reaction is “unsurprising”. He joins the On the Move panel to discuss. …read more […]
Economist Vincent Reinhart understands why equity investors are “somewhat perplexed” by Tuesday’s emergency rate cut. …read more […]
While coronavirus has left few corners of the travel industry unscathed, its impact has been especially worrisome for the cruise segment, given the dramatic coverage of ship quarantines and the history of virus outbreaks onboard ships. Although financial analysts and cruise experts acknowledge the severity of the coronavirus impact, many think any damage to the […] …read more […]
U.S. Federal Reserve officials have slashed interest rates half a percentage point because of the coronavirus.
Cleveland Fed President Loretta Mester said Tuesday’s impromptu rate cut of 50 basis points still leaves the U.S. economy in a “highly uncertain” position. …read more […]
Many voters have no idea how destabilizing Medicare for all would be. …read more […]
Apple could see historic sales of its iPhone 12 in 2021 thanks to 5G and pent up demand as a result of the coronavirus. …read more […]
A panel of OPEC and its allies recommended cutting oil output by an extra 1 million barrels per day (bpd) on Tuesday signaling that Russia and Saudi Arabia were moving closer to a deal to prop up prices which have been hit by the coronavirus outbreak.
U.S. Supreme Court justices on Tuesday appeared inclined to back the Securities and Exchange Commission’s power to use federal courts to force defendants to surrender profits obtained through fraud as part of enforcement of investor-protection laws.
Joe Biden’s chances are on the rise, as Bernie Sanders’ momentum appears to stall, according to oddsmakers at two betting sites. …read more […]
No need to ask what issue currently sits at the top of global priority “to do” lists. Around the world, the search is on for a suitable vaccine to stop the coronavirus spreading any further. Naturally, on top of saving lives and the accompanying kudos, will come the monetary reward. So, the race is on to find a viable solution, with several healthcare companies hoping to emerge victorious. One of those is Inovio Pharmaceuticals (INO).INO stock is up nearly 18% on the back of positive developments for its COVID-19 vaccination candidate. INO-4800 (the designated name for Inovio’s vaccine), will begin …read more […]
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