Oil prices rose on Thursday but pared early gains as investors tried to assess how effective massive stimulus by central banks will be in shoring up the global economy as the shock from the coronavirus pandemic deepens.
(Bloomberg Opinion) — As recently as a month ago, investors in China’s internet stocks were clutching on to the belief that these companies would sail through the coronavirus epidemic unscathed.Alibaba Group Holding Ltd., for example, was trading near historic highs despite the e-commerce giant’s chief financial officer admitting days before that its biggest business would decline as a result of the squeeze on consumer spending. By the time Baidu Inc. reported two weeks later, shares of the search-engine provider had lost 11.7%, while those of Alibaba were down 6.4% and social media powerhouse Tencent Holdings Ltd. had slipped 6.2%.Just as …read more […]
The dollar surged and everything else was blown away on Thursday as emergency central bank measures in Europe, the United States and Australia failed to halt a fresh wave of panic selling.
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […] …read more […]
The dollar surged, bonds plunged and global markets struggled to find their footing on Thursday as the European Central Bank’s latest promise of stimulus provided only brief solace while the world struggles to contain the coronavirus pandemic.
The New York Stock Exchange (NYSE) will temporarily close its trading floors and move fully to electronic trading from Monday, its owner Intercontinental Exchange Inc said after an employee and a trader were tested positive for the coronavirus.
Oil prices surged as much as nearly 20% on Thursday, bouncing back from days of heavy losses in a relief rally that may yet be short-lived, analysts warned, but which was stoked by economic stimulus efforts to ward off a global coronavirus recession. Brent crude was up $2.10, or 8%, at $26.98 a barrel by 0028 GMT after tumbling 13% on Wednesday in a third day of relentless selling. “After a 24% crash, oil prices are firming up on some selling exhaustion and as U.S. and European leaders unleash … aid and stimulus,” said Edward Moya, senior market …read more […]
Another day of massive swings across asset prices was marked by scant liquidity as investors dashed for cash while systematic strategies triggered automated selling amid rising volatility, market participants said.
Oil prices surged as much as nearly 20% on Thursday, bouncing back from days of heavy losses in a relief rally that may yet be short-lived, analysts warned, but which was stoked by economic stimulus efforts to ward off a global coronavirus recession. Brent crude was up $2.10, or 8%, at $26.98 a barrel by 0028 GMT after tumbling 13% on Wednesday in a third day of relentless selling. “After a 24% crash, oil prices are firming up on some selling exhaustion and as U.S. and European leaders unleash … aid and stimulus,” said Edward Moya, senior …read more […]
Oil prices surged as much as nearly 20% on Thursday, bouncing back from days of heavy losses in a relief rally that may yet be short-lived, analysts warned, but which was stoked by economic stimulus efforts to ward off a global coronavirus recession.
Asian stocks struggled to find their footing in volatile trade on Thursday, as the latest promise of stimulus from the European Central Bank propped up sentiment while the world struggles to contain the coronavirus pandemic.
Brazil has upheld proposals by Boeing Co to buy the jetmaking arm of Embraer , but plunging markets have raised urgent questions over the fate of the $4.2 billion deal as aviation reels from the coronavirus crisis.
Qantas Airways Ltd said on Thursday it will halt all international flights from late March until at least the end of May and is putting two-thirds of its workforce on leave after Australia told citizens not to travel overseas due to the coronavirus.
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