The International Monetary Fund on Friday advised all staff at its Washington, D.C., headquarters to work from home until further notice after an employee was diagnosed with COVID-19, the disease caused by the coronavirus, an IMF spokesman said.
Markets closed up today…
But don’t be fooled into thinking this is the all-clear moment when the market will return to form. While yesterday’s actions brought us closer to the bottom than the day before, one headline could change everything. Because of that, the betting is still pointed toward the downside in the days and weeks ahead.
However, with the CBOE Volatility Index (VIX) going absolutely parabolic this week, we may see a little letup in the velocity of the downside moves, meaning the daily massive moves down will start to slow down. So expect more big down days, but not necessarily …read more […]
Oil prices on Friday posted their biggest week of losses since the 2008 global financial crisis, rocked by the coronavirus outbreak and efforts by top exporter Saudi Arabia and its allies to flood the market with record levels of supply.
Fiat Chrysler Automobiles NV said production at its assembly plant in Windsor, Ontario, which was halted for 24 hours after an employee contracted the coronavirus, has resumed on Friday afternoon.
Microsoft Corp co-founder Bill Gates has stepped down from the company’s board to dedicate more time to his philanthropic priorities including global health, education and tackling climate change, the company said on Friday.
A group representing major U.S. airports on Friday revised upward its forecast for estimated losses this year to $5.7 billion after President Donald Trump instituted new European travel curbs and as flight reductions rose.
Shares of Google parent Alphabet Inc closed up more than 9% after U.S. President Donald Trump said on Friday the search giant would create a website to help determine whether individuals need a coronavirus test or not.
American shoppers stood in long lines outside grocery stores on Friday, waiting to buy essentials like toilet paper, pasta, and bottled water, as a worsening coronavirus crisis stoked fears of shortages across the United States.
President Donald Trump declared a U.S. national emergency over the quickly spreading coronavirus on Friday, opening the door to more federal aid to combat a disease that has infected 138,000 people worldwide and left more than 5,000 dead.
As a collapse in the oil price unleashed chaos in financial markets, Madrid money manager Diego Parrilla phoned a colleague who agreed: they had better head to work early in the morning.
(Bloomberg) — Oil posted the biggest weekly plunge since 2008, capping its most dramatic week in recent memory as major producers prepare to drench the market with supply just as the coronavirus crushes demand. But prices jumped following the close, after President Donald Trump said the U.S. would fill the nation’s strategic reserve.Losses for the week totaled 23% after the collapse of talks between members of the OPEC+ group triggered the biggest crash in a generation. Instead of reaching a deal to cut output to mitigate the fallout from the virus, producers led by Saudi Arabia and Russia embarked on …read more […]
The U.S. Federal Reserve is talking with lenders about potentially going easy on them if they deplete their liquidity reserves while trying to support customers hurt by coronavirus disruption, according to three people with knowledge of the discussions.
The major indexes soared after Trump declared a national emergency. This market rebound comes the day after the worst trading day since 1987, with all three indexes closing over 9% higher.
…read more […]
President Trump declares a national emergency, a move that will speed up federal assistance with the coronavirus. …read more […]
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