Month: March 2020

Asian shares and Wall Street futures fell on Wednesday as growing scepticism about Washington’s stimulus package to fight the coronavirus outbreak knocked the steam out of an earlier rally. Australian shares were down 2.02%, while Japan’s Nikkei stock index slid 1.28%. Earlier this week, U.S. President Donald Trump said he would take “major steps” to ease economic strains caused by the spread of the flu-like virus. …read more […]

(Bloomberg) — Boeing Co. and Airbus SE, which until recently couldn’t make planes fast enough to satisfy airlines, are suddenly contending with the opposite risk: churning out jets with no buyers.Demand for new aircraft is drying up as customers wary of the coronavirus shun air travel, ending the longest boom in aviation history. That 16-year surge began as airlines emerged from another infectious disease crisis, the one related to Severe Acute Respiratory Syndrome, or SARS. Now the new virus points to leaner times.In less than a month, the tumult has clipped about $175 billion in market value from the U.S. …read more […]

In a separate tweet, Musk said: “Model Y production for east coast too.” Tesla in late January said it had started production of the Model Y, its electric compact sports utility vehicle, at its factory in Fremont, California, and planned to deliver the first vehicles by the end of March. Tesla did not immediately respond to a request for comment after regular business hours on Tuesday. …read more […]

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(Bloomberg) — U.S equity futures retreated and Asian equities opened lower as investors awaited details from the Trump administration on planned stimulus to counter the coronavirus impact. S&P 500 futures fell about 1.5%, following a strong rally on Wall Street. President Donald Trump didn’t appear at a White House briefing on the outbreak after promising a day earlier that he would hold a news conference to announce a “major” economic aid package. The yen clawed back some of a steep overnight retreat, while Japanese and Australian shares opened lower. The S&P 500 Index earlier closed up almost 5% to end …read more […]

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The COVID-19 virus has sent the market and the global economy into a tailspin. The Organisation for Economic Co-operation and Development slashed its global growth forecast for 2020 Monday by 0.5 points to 2.5% versus already-weak 2.9% growth in 2019.Global banks have begun talking up the economy with the promise of stimulus injection.As the world and China in particular battle the deadly pandemic, a small batch of biotechs and a handful of big pharma companies are racing against time to bring to the market potential treatment and/or vaccines to combat the virus.Rocky R&D Pathway For Coronavirus Products Investors scurrying for …read more […]

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