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Dollar surges, stocks fall as ECB fails to stop panic
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.
Business News
NYSE to shift fully to e-trading from Monday after two coronavirus cases
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.
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Oil rockets nearly 20% as investors hail coronavirus stimulus spending – for now
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 […]
Business News
Just another trading day: Wild swings and dash for cash trigger selling
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.
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Oil rockets nearly 20% as investors hail coronavirus stimulus spending – for now
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 […]
Business News
Oil rockets nearly 20% as investors hail coronavirus stimulus spending – for now
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.
Business News
Asian stocks fight for a toehold as ECB stimulus slows panic
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.
Business News
Boeing-Embraer deal on knife-edge as markets tumble
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.
Business News
Qantas to cease international flying, tells majority of workforce to take leave
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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3 Stocks That Are Flirting with a Bottom; RBC Says ‘Buy’
Since the coronavirus outbreak began, the market’s pullback has been severe and the recent measures to help blunt the impact haven’t restored investors’ confidence. The S&P 500 tumbled 5.18% today and closed nearly 30% below its record peak set less than a month ago.However, the fact that the S&P 500 has fallen 30% from its record peak in a matter of a couple of weeks is bound to get some analysts thinking that now might be a good time to start bottom-fishing for bargains in the stock market — official bear market or no. Stocks whose valuations might not have …read more […]
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Business News
Harley-Davidson faces proxy fight with investor Impala
Harley-Davidson Inc faces a battle with one of its investors after Impala Asset Management on Wednesday on Wednesday said it will try to install two directors at America’s oldest and best-known motorcycle maker.
Business News
Airline industry turmoil deepens as coronavirus pain spreads
Airline industry turmoil deepened on Thursday as Qantas Airways Ltd told most of its 30,000 employees to take leave and India prepared a rescue package of up to $1.6 billion to aid carriers battered by coronavirus, government sources said.
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With Oil at Record Low, Canada Is Price War’s First Casualty
(Bloomberg) — In the oil price war between Saudi Arabia and Russia, the first big victim is likely to be Canada.Hit by unfettered supply from Russia and Saudi Arabia and reduced demand as a result of the coronavirus, the benchmark blend of crude produced from Canada’s oil sands plunged to a record low of $7.47 a barrel on Wednesday. The fallout: Virtually every barrel of oil now produced there will come at a loss at a time when the energy industry generates 10% of Canada’s gross domestic product and a fifth of its exports.The losses could spur a stark turnaround …read more […]