The impact of the coronavirus is escalating, with the total cases and death toll rising. BMO Capital Markets Chief Investment Strategist Brian Belski explains why he believes the virus is a “very short term phenomenon”. He joins Yahoo Finance’s On the Move panel to discuss. …read more […]
Caution should be the name of the game when it comes to investing suggests this top strategist. …read more […]
U.S. stocks opened sharply lower on Friday, as the global tally of coronavirus infections surpassed 100,000 and jittery investors took cover in perceived safe havens such as bonds and gold.
OPEC’s plans for deep and prolonged oil cuts were derailed on Friday as non-OPEC Russia refused to support the move arguing that it was too early to predict the impact of a coronavirus outbreak on global energy demand, sources told Reuters.
The Trump administration may take targeted steps to stimulate the U.S. economy amid the coronavirus outbreak that is likely to temporarily drag down some sectors, White House economic adviser Larry Kudlow said on Friday, adding that more information was needed first.
European Union officials are considering temporarily suspending its rules on state subsidies and financial support to economic segments hit hardest by the coronavirus outbreak, an official said on Friday.
(Bloomberg) — OPEC+ failed to reach a deal, sending oil prices plunging as Russia refused to bend to Saudi Arabia’s push for deeper production cuts, delegates said.The collapse of talks in Vienna on Friday brings double jeopardy for the oil market, where prices are already at the lowest level in more than two years. Not only will the cartel be unable to compensate for the slump in demand due to the coronavirus, but the group’s existing 2.1 million-barrel-a day cut won’t continue beyond the end of this month.It’s the worst case scenario for the Organization of Petroleum Exporting Countries, which …read more […]
BENGALURU/MUMBAI (Reuters) – A price rally to record highs subdued physical gold purchases in India this week, driving bullion dealers to offer deeper discounts, while buying interest was minimal in top-consumer China and Hong Kong. Dealers in India offered a discount of up to $25 an ounce to official domestic prices, the most since late September, and up from last week’s $14 discount. …read more […]
“It’s fake! It’s fake!” residents high up in an apartment complex in the central Chinese city of Wuhan shouted down as a senior government official led an inspection tour below of how people were coping during the coronavirus lockdown.
OPEC has failed to secure a deal with Russia and other non-OPEC producers on its plans for big, additional oil production cuts, two OPEC sources said on Friday at talks between ministers from the informal alliance known as OPEC+. The sources were speaking after ministers from Saudi Arabia, Russia and other oil producing states gathered at OPEC’s Vienna headquarters and delayed a formal meeting for hours as they tried to find a compromise. OPEC had proposed cuts of 1.5 million barrels per day (bpd) in addition to cuts already in place, a move Russia resisted. …read more […]
“This could be the president’s Hurricane Katrina,” said Scaramucci. …read more […]
The number of people infected with the new coronavirus across the world surpassed 100,000 on Friday as the economic damage intensified, with business districts beginning to empty and stock markets tumbling.
The European Commission is considering various steps to help member states with the economic impact of the coronavirus outbreak, including targeted waivers on state aid rules, an official of the EU executive said on Friday.
Policymakers have taken a range of approaches to deal with the economic fallout from the coronavirus, from emergency interest rate cuts and big spending packages to a wait-and-see-stance and pledges of action if required.
Traders are betting the Federal Reserve will deliver another, bigger reduction in borrowing costs at its mid-March policy meeting, as worries about the spread of the new coronavirus trumped data showing robust hiring by U.S. employers last month.
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