03Mar2020 Pre-Market Commentary: Wall Street Futures Reporting Conflicting Signals, DOW Up 41 Points, SP 500 Up 0.2%, Other Reports Claim DOW Set To Drop 200 Points After G-7 Fails To Deliver Policy Action To Combat COVID-19

Here is the current market situation from CNN Money

European markets are sharply higher today with shares in Germany leading the region. The DAX is up 1.94% while London’s FTSE 100 is up 1.60% and France’s CAC 40 is up 1.36%.

Oil extends gains on expectations for coordinated effort to offset coronavirus impact

Oil prices extended gains on Tuesday on expectations that central banks will provide financial stimulus to offset the impact of the coronavirus outbreak and on growing optimism that OPEC will order deeper output cuts this week.

Futures mixed as traders assess G7 comments on monetary stimulus

U.S. stock index futures were mixed on Tuesday, as G7 heads indicated willingness to take steps to mitigate the economic impact of the coronavirus epidemic, but stopped short of announcing concrete measures.

Global markets: Here comes the cavalry?

A recovery in world stock markets and oil prices picked up pace on Tuesday, as global policymakers signalled a united front to address the economic fallout from the spreading coronavirus.

BMW says coronavirus hit China sales but sticks to 2020 global target

BMW on Tuesday said its China sales have taken a hit this year because of the new coronavirus, but stuck to its target for growing passenger car sales for the year, and said its global supply chain has not been disrupted.

Peugeot maker says UK factory plans dependent on Brexit talks

Peugeot maker PSA does not expect to make a call before the end of 2020 on whether to keep its British factory at Ellesmere Port running, depending on how Brexit talks evolve, Chief Executive Carlos Tavares said on Tuesday.

BMW, Daimler aim to cut emissions 20% this year with new electric models

New electric models will help BMW and Daimler cut emissions from the cars they sell by an average of 20% this year, the German automakers predicted on Tuesday, as they strive to meet tough new European pollution rules.

Explainer: Why automakers are on a drive to sell electric cars in Europe

Carmakers are under pressure in Europe to sell more electric cars or face huge fines for breaching new emissions rules aimed at tackling global warming.

Emirates airline asks staff to take one month unpaid leave over coronavirus

Major international airline Emirates is asking staff to take unpaid leave for up to a month at a time due to the rapidly spreading coronavirus that has led to flight cancellations around the world.

Airlines face worsening coronavirus impact, European bosses warn

The worst is still to come for the airline industry in terms of economic damage from the coronavirus outbreak, European carrier bosses warned on Tuesday, but they predicted that travel demand could stabilise in the coming weeks.

23 Iran MPs & Head Of Emergency Medical Services Confirmed For Coronavirus

23 Iran MPs & Head Of Emergency Medical Services Confirmed For Coronavirus

Iran now officially confirms at least 2,336 coronavirus cases and 77 dead, while members of parliament have been hit hard. Tehran officials have now revealed that 23 parliament members have been confirmed for the virus, suggesting much bigger numbers of infected nationwide, after multiple reports alleged the Islamic Republic is hiding its true numbers, or at least refusing to test.

On that note the country is bracing itself for the possibility of œtens of thousands getting tested and possibly being confirmed for the virus after the latest spike in cases, an official said previously.

And after a week ago the country’s deputy Iran’s deputy health minister tested positive, another top health official, the head of the nation’s emergency medical services, has been confirmed for Covid-19.

Dems Converge Around Dementia-Addled Warmonger Ahead Of Super Tuesday

Dems Converge Around Dementia-Addled Warmonger Ahead Of Super Tuesday

Authored by Caitlin Johnstone via Medium.com,

Back in January, well before the Democratic primary race had taken on its current composition, independent journalist Ruth Ann Oskolkoff reported that a source had heard from high-level Democratic Party insiders that they were planning to install Joe Biden as the party’s nominee, and to smear Bernie Sanders as a Russian asset.

œOn January 20, 2020 at 8:20 p.m. PDT I received a communication from a reliable source, Oskolkoff wrote.

œThis person had interactions earlier that evening with high level party members and associates of the Democratic National Committee (DNC) who said that they have now selected Biden as the Democratic Party nominee, with Warren as the VP. They also said the plan is to smear Bernie as a Russian asset.

Now, immediately before Super Tuesday, we are seeing establishment candidates Pete Buttigieg and Amy Klobuchar drop out of the race, both of whom, along with former cand …

“We Realize We Let You Down” – Robinhood App Back Online After Outage Â

“We Realize We Let You Down” – Robinhood App Back Online After Outage Â

Update (March 3): Millennials using online brokerage platform Robinhood can finally breathe a sign of relief, after 24 hours of not being able to buy or sell, the company has now restored the app after a “glitch.”Â

 “When it comes to your money, issues like this are not acceptable,” Robinhood said in a statement Tuesday morning. “We realize we let you down, and our team is committed to improving your experience.”

Speculation has it that the app went down because of “leap year” coding issues…Â

BREAKING: The reason Robinhood was down all day was because they didn’t code for leap year. Code was fetching data from 3/3/2020. See nerd language below: pic.twitter.com/30zojrkDCQ

” Robinhood Class Action (@ClassRobinhood) March 2, 2020

Does this mean selling will resume?

* * *Â

Last week it was Fidelity shutting down, not allowing investors to trade during the historic market crash, now Robinhood trading app, popularized by millennials, has experienced trading issues on Monday morning.Â

“We are experiencing a system-wide outage. We are working to resolve this issue as soon as possi …

Washington Ramps Up Testing, Beijing Adopts New Travel Bans As Global Case Total Passes 90,000: Live Updates

Washington Ramps Up Testing, Beijing Adopts New Travel Bans As Global Case Total Passes 90,000: Live Updates

Summary:

Pope tests negative for coronavirus

Global case total passes 91,000

UK case total hits 51

US case total tops 100 across 15 states (including evacuees)

South Korea case total passes 5,000; death toll hits 34

Iran confirmed cases pass 2,000, 70+ dead

Head of European football says Euro 2020 will go on

9 new cases confirmed in Japan

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Update (0800ET): UK Health Secretary Matt Hancock has confirmed 11 new cases in the UK, raising the total to 51.

* * *

Following the longest publicly-disclosed illness of Pope Francis’s papacy, the Vatican has confirmed that the leader of 1 billion Catholics has tested negative for the coronavirus. After days of insisting that the pope didn’t have the virus…somebody at the Vatican was clearly worried that the Pope might have been exposed.

Pretty soon, millions of Americans and Europeans will know that feeling, if they don’t already.

Yesterday, the death toll in the US climbed to 6, while the death toll across Europe has moved closer to 100. Late last night, officials in Washington State confirmed what many probably already suspected: 4 of the six deceased were either patients or staff at a nursing home in Kirkland, suburban Seattle.

India may be well placed to weather the coronavirus storm

India may be well placed to weather the coronavirus stormWeather could be the reason why Ebola, yellow fever, SARS and MERS had negligible impact on India.

Voda Idea pays Rs 3K cr as spectrum dues

Voda Idea pays Rs 3K cr as spectrum duesThe payment comes even as the telecom firm faces balance AGR dues of Rs 53,500 crore.

RBI steps in to end Sensex’s 7-day losing run

RBI steps in to end Sensex’s 7-day losing runDespite the strong surge in the market, the overall breadth remained neutral on Dalal Street.

January 2020 CoreLogic Home Price Growth Remains At 4.0% Year Over Year

Written by Steven Hansen

CoreLogic’s Home Price Index (HPI) shows home prices improved by 4% year-over-year. As the year-over-year growth did not change, our view is that there is no change in the rate of growth month-over-month.

…. In February, mortgage rates fell to the lowest level in more than three years, which likely will spur additional home shopping activity and price appreciation ….

Danone’s Horizon Organic milk aims to be carbon-positive from farm to table by 2025

Danone’s Horizon Organic milk, the largest USDA certified organic dairy brand in the world, has committed to be carbon positive across its supply chain by 2025, the company announced Tuesday.

Rex Nutting: The coronavirus is taking aim at the heart of the American economy: Consumer spending

With the coronavirus now spreading in communities around the country, it’s becoming more likely that the epidemic will slam consumer spending.

G-7 pledges to use ‘all appropriate policy tools’ to fight coronavirus

The statement from G-7 finance ministers and central bank governors indicators a willingness to use all tools to fight the coronavirus impact on the global economy.