Markets are in for another rollercoaster week, as policymakers continue to ramp up their response to the global coronavirus outbreak. …read more […]
The U.S. Federal Reserve and global central banks moved aggressively on Sunday to buttress a world economy unraveling rapidly amid the coronavirus pandemic, with the Fed slashing interest rates to near zero, pledging hundreds of billions of dollars in asset purchases and backstopping foreign authorities with the offer of cheap dollar financing.
It would be costly, but it may be time for President Trump to shut all nonessential businesses in the United States, to wage full-scale war on coronavirus. …read more […]
Oil prices extended losses on Monday, slumping by more than $1 a barrel, as an emergency rate cut by the U.S. Federal Reserve failed to soothe global financial markets panicked by the rapid spread of the coronavirus and mounting economic disruptions.
Oil prices extended losses on Monday, slumping by more than $1 a barrel, as an emergency rate cut by the U.S. Federal Reserve failed to soothe global financial markets panicked by the rapid spread of the coronavirus and mounting economic disruptions. U.S. crude was at $30.20, down $1.53 after slipping below $30 earlier in the session, despite U.S. President Trump’s pledge to fill strategic oil reserve at the world’s largest oil consumer “to the top”. The U.S. Federal Reserve slashed interest rates on Sunday in its second emergency cut this month, and said it would expand its …read more […]
U.S. stock index futures tumbled to open trading on Sunday, hitting their daily down limit, after the Federal Reserve took drastic action to cushion the economic blow from the escalating coronavirus.
Stock markets and the dollar fell heavily on Monday, after emergency rate cuts in the United States and New Zealand failed to allay fears about the coronavirus’ economic shock.
The U.S. Federal Reserve slashed rates back to near zero, restarted bond buying and joined with other central banks to ensure liquidity in dollar lending to help put a floor under a rapidly disintegrating global economy during the coronavirus pandemic.
The biggest U.S. banks will stop buying back their own shares, and will instead use that capital to lend to individuals and businesses affected by the coronavirus, an industry trade group said on Sunday.
(Bloomberg) — The U.S. is preparing to start buying as much as 77 million barrels of oil for its emergency stockpiles within the next two weeks, an effort by President Donald Trump to support the domestic industry and boost reserves at cheap prices.While purchases of U.S. crude may begin swiftly, deliveries into the four sites that make up the country’s Strategic Petroleum Reserve could take months to complete, a senior Energy Department official said Sunday, asking not to be named before formal announcements. Pipeline and port capacity constraints could figure into the timing, the official said.The quick purchase plans are …read more […]
Mar.15 — President Donald Trump speaks at a press briefing about the Federal Reserve’s decision to slash interest rates to near zero in a fresh bid to save the U.S. economy from the fallout of the coronavirus. …read more […]
Goldman Sachs Group Inc has downgraded its U.S. growth forecast for the first and second quarters in the wake of the economic fallout from the coronavirus outbreak.
U.S. stock futures fell to their offshore trading limit within half an hour from opening on Monday even as the U.S. Federal Reserve led the world’s central banks in taking bold easing steps to cushion the impact of the coronavirus on economies.
(Bloomberg) — Oil’s spectacular collapse deepened in early Asian trade on Monday as investors weighed measures by governments and central banks to help shore up the global economy against the unprecedented demand shock from the fast-spreading coronavirus.Futures in London fell as much as 6% after plunging by a quarter last week — the market’s biggest weekly drop since 2008. Travel restrictions across the globe tightened further over the weekend in efforts to contain the spread of the virus, with the U.S. extending its travel ban to include Britain and Ireland. Australia said anyone entering the country must self-isolate for two …read more […]
Automakers General Motors , Ford Motor Co and Fiat Chrysler Automobiles (FCA) are forming a coronavirus task force along with the United Auto Workers (UAW) union to improve protections for their employees and limit the spread of the highly contagious virus.
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