Those pining for a bottom to the gut-wrenching stock market selloff may be disappointed to learn that mega one-day rallies like the historic one witnessed on Tuesday are typically not the start of a durable recovery.
Oil prices extended gains for a third session on Wednesday, rising alongside broader financial markets on hopes Washington will soon approve a massive aid package to stem the economic impact of the coronavirus pandemic.
Detroit’s Big Three automakers plan to extend a current shutdown of vehicle production in North America into April as the coronavirus pandemic continues, people briefed on the matter said Tuesday.
(Bloomberg) — The best day for at least one U.S. stock gauge since the Great Depression has strategists mulling the chance of further gains.American shares haven’t enjoyed a two-day rally since Feb. 12, and the last three surges of more than 5% in the S&P 500 Index were immediately followed by equivalent losses. But with a record surge of stocks trading on an uptick at Tuesday’s open and activity heavily skewed toward winners, Sundial Capital Research Inc. is hopeful this time could be different.“The buying interest and close at the highs on Tuesday could be enough to finally change sentiment …read more […]
Spot gold was up 0.1% at $1,611.73 per ounce by 0230 GMT, after rising as much as 1.6% earlier in the day. U.S. gold futures climbed 0.8% to $1,673.60. Benchmark spot gold prices continued to trade below U.S. gold futures in a sign that the market is worried air travel restrictions and precious metal refinery closures will hamper shipments of bullion to the United States to meet contractual requirements. …read more […]
Asian shares extended their rally on Wednesday in the wake of Wall Street’s massive rebound as the U.S. Congress appeared closer to passing a $2 trillion stimulus package to mitigate the economic blow from the coronavirus pandemic.
Boeing Co plans to restart 737 MAX production by May, ending a months-long halt triggered by a safety ban on its best-selling jet after fatal crashes, people familiar with the matter said on Tuesday. Boeing’s planning hinges on the scale of disruptions from the fast spreading coronavirus, and U.S. regulators clearing the 737 MAX to return to service, a milestone Boeing still expects to reach in mid-2020. One industry source said Boeing has asked some suppliers to be ready to ship 737 parts in April. …read more […]
Walmart and the nation’s largest grocery store chains, Kroger and Albertsons, announced they are installing “sneeze guards” to stores nationwide. …read more […]
U.S. President Donald Trump on Tuesday said he wants the U.S. economy to reopen by Easter Sunday, April 12, despite the rapid spread of the novel coronavirus in some U.S. states and a rising death toll from the disease.
Qantas Airways Ltd on Wednesday secured A$1.05 billion ($627.8 million) against its aircraft fleet to help it ride out the coronavirus crisis, sending shares up 30%, as airlines in the Asia-Pacific region sliced away capacity and jobs.
Oil prices extended gains for a third session on Wednesday, rising alongside broader financial markets on hopes Washington will soon approve a massive aid package to stem the economic impact of the coronavirus pandemic.
Oil prices extended gains for a third session on Wednesday, rising alongside broader financial markets on hopes Washington will soon approve a massive aid package to stem the economic impact of the coronavirus pandemic. The U.S. Congress may vote on Wednesday on the $2 trillion stimulus package which boosted stock markets on Tuesday. …read more […]
Asian shares extended their rally on Wednesday in the wake of Wall Street’s big gains as U.S. Congress appeared closer to passing a $2 trillion stimulus package to curb the coronavirus pandemic’s economic toll.
The German elevator-to-car parts conglomerate Thyssenkrupp will cut 3,000 jobs at its steel unit by 2026 as part of a wage deal it struck with powerful labor union IG Metall, it said on Wednesday.
(Bloomberg) — Google and other digital advertising companies are seeing revenue growth wither as marketers slash spending ahead of an expected recession triggered by the coronavirus.The global pandemic and the ensuing slump in economic activity is crushing several industries that have been big buyers of Google and Facebook Inc. ads, including online travel agents, automakers, restaurants and retail.“I’m hearing some big numbers, with ad spending down 30% to 50% across the board,” said Rob Griffin, founder of digital ad consulting firm G5 Futures. Some marketers will slash budgets by 80% or 90%, while others may stop for a while if …read more […]
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