Trading Ideas
Year: 2020
Business News
Asia shares up as plans to re-open U.S economy offset record slump in China GDP
Asian stocks gained on Friday as President Donald Trump’s plans to gradually re-open the U.S. economy offset data that showed China suffered its worst economic contraction on record due to the coronavirus outbreak.
Business News
Isntant View: China’s first-quarter GDP posts first decline on record as virus shuts down economy
China’s economy shrank 6.8% in January-March from a year earlier, official data showed on Friday, the first such decline since at least 1992 when quarterly gross domestic product (GDP) records began.
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Southwest asks unions to start considering post-aid concessions
In its 49-year history, Southwest has never had any pay cuts, layoffs or furloughs, even following the Sept. 11, 2001 attacks and the 2009 financial crisis. McCrady said Southwest was focused on discussing with unions potential changes that may need to be adopted in October should the industry not recover. …read more […]
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Read This Before Betting The Farm On Gilead Sciences and S&P 500 Futures
Gilead Sciences (NASDAQ:GILD) surged 16% and index futures are up around 3.4% in after hours trading after an article reported anecdotal results of a University of Chicago hospital study. The hospital is participating in Gilead’s single arm study and the partial results were revealed in a video of a presentation made by an infectious disease […] …read more […]
Business News
China posts first GDP decline on record as coronavirus cripples economy
China’s economy shrank for the first time since at least 1992 in the first quarter, as the coronavirus outbreak paralysed production and spending, raising pressure on authorities to do more to stop mounting job losses.
Business News
Instant View: China’s first-quarter GDP posts first decline on record as virus shuts down economy
China’s economy shrank 6.8% in January-March from a year earlier, official data showed on Friday, the first such decline since at least 1992 when quarterly gross domestic product (GDP) records began.
Business News
China March crude oil runs hit 15-month low as refiners extend output cuts
China’s daily crude oil throughputs hit their lowest monthly level in March since December 2018 as state refiners maintained deep cuts in production levels as the coronavirus pandemic undercut fuel demand.
Business News
China March industrial output falls 1.1% year-on-year, better than forecast; first-quarter investment slides 16.1%
China’s industrial output fell a less steeper-than-expected 1.1% in March from a year earlier, data from the National Bureau of Statistics showed on Friday, as the coronavirus crisis and strict containment measures severely disrupted the world’s second-largest economy.
Business News
China’s January-March property investment down 7.7% from a year earlier
Real estate investment in China fell 7.7% in the first three months of 2020 from a year earlier, official data showed on Friday.
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Business News
Most U.S. firms have no plans to leave China due to coronavirus: survey
The majority of American companies in China have no plans to relocate production or sourcing activities to other parts of the country or abroad due to the coronavirus, a survey showed on Friday.
Business News
Report says COVID-19 patients respond to Gilead’s remdesivir, shares surge
Gilead Sciences Inc’s shares surged 16% in after hours trading on Thursday following a media report detailing encouraging partial data from trials of the U.S. company’s experimental drug remdesivir in severe COVID-19 patients.
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Report says COVID-19 patients respond to Gilead's remdesivir, shares surge
A University of Chicago hospital participating in a study of the antiviral medication said it is seeing rapid recoveries in fever and respiratory symptoms, with nearly all patients discharged in less than a week, according to medical news website STAT https://www.statnews.com/2020/04/16/early-peek-at-data-on-gilead-coronavirus-drug-suggests-patients-are-responding-to-treatment. Gilead, in an emailed statement, said “the totality of the data need to be analyzed in order to draw any conclusions from the trial.” UChicago Medicine, also in an email, said “partial data from an ongoing clinical trial is by definition incomplete and should never be used to draw conclusions.” …read more […]
Business News
Morgan Stanley CEO: coronavirus will continue to pose challenges
Morgan Stanley Chief Executive Officer James Gorman told shareholders on Thursday he “can promise” the bank will miss its medium-term financial targets again in the current quarter, as the economic shutdown caused by the novel coronavirus will continue to upend the global and U.S. economy.