23Mar2020 Market Close: Wall Street Slipped As The Rapidly Spreading COVID-19 Forced More US States Into Lock Down, DOW Sea-saws Closing At -582 Points, WTI Sitting Precariously At Support, Gold Ends The Day At 1553

Home work triggers demand jump for chips, laptops and network goods

With more employees working from home to help slow the spread of the coronavirus, demand is surging for laptops and network peripherals as well as components along the supply chain such as chips, as companies rush to build virtual offices.

U.S. credit spreads narrow after unprecedented Fed stimulus

U.S. corporate credit spreads narrowed on Monday, indicating positive investor sentiment, following the Federal Reserve’s announcement that it would backstop an unprecedented range of credit.

SoftBank plans $41 billion of asset sales to expand buyback and cut debt

SoftBank Group Corp plans to raise as much as $41 billion to buy back shares and reduce debt in an unprecedented move to restore investor confidence as a financial market rout pummels its shares and its portfolio companies.

Fed aims ‘bazooka’ at coronavirus to backstop economy

The U.S. Federal Reserve on Monday rolled out an extraordinary new array of programs aimed at blunting the “severe disruptions” to the economy caused by the coronarvirus outbreak, backstopping an unprecedented range of credit for households, small businesses and major employers.

Skies clear as further coronavirus curbs ground more flights

Widening travel curbs to contain the spread of the coronavirus led to further flight cancellations on Monday, with new restrictions spanning India, Australia, New Zealand, the United Arab Emirates (UAE), Hong Kong, Singapore and Taiwan.

Airlines ground flights, count mounting costs of the coronavirus shock

Airlines across the globe are feeling the pain as travel demand withers because of the coronavirus outbreak, scrapping flights and ditching financial forecasts.

GE’s aviation unit to cut 10% of U.S. workforce: CEO

General Electric Co’s aviation unit will cut its U.S. workforce by about 10%, Chief Executive Officer Larry Culp said in a letter to staff on Monday, as a shattered airline industry sought state support to survive the coronavirus crisis.

Wall Street falls as Fed fails to assuage virus worries

Wall Street slipped on Monday as the still rapidly spreading coronavirus forced more U.S. states into lockdown, eclipsing optimism from an unprecedented round of policy easing by the Federal Reserve.

Airbus adds 15 billion euro credit line, scraps dividend

Airbus boosted its liquidity with a 15 billion euro ($16 billion) expanded credit facility on Monday while suspending its 2020 outlook in response to the coronavirus crisis that has grounded much of the global airlines fleet.

Gold Surges Most Since 2009 After Fed Unveils QEternity, Stocks & Bond Yields Tumble

Gold Surges Most Since 2009 After Fed Unveils QEternity, Stocks & Bond Yields Tumble

The Fed unveiled its ultimate bazooka today – unlimited buying of pretty much any- and every-thing until this all calms down. The problem is – it didn’t reassure investors as they’ve had 10 years of knowing that whatever The Fed ‘creates’ is simply money-printed delusion that does not reflect any real economic progress.

Fed announces unlimited QE and sets up several new lending programs pic.twitter.com/PXjedWTBcx

” MONETARY MAYHEM „¢ (@MONETARY_MAYHEM) March 23, 2020

Stocks knee-jerked higher thanks to their conditioned behavior – but that did not last as a rally is the last thing we need to force Washington to vote for the bailout bill, and stocks fell…

Is It Time To Buy Stuff?

Is It Time To Buy Stuff?

Submitted by Kuppy via Adventures in Capitalism

It’s said that you want to buy when others are fearful. It sure seems that investors are currently losing their minds. Look, I get it, there’s a virus and there’s a good chance that a lot of us will get it. There’s conflicting data about the overall mortality rate which makes it all worse; especially as its origins in China are terrifying. All sorts of businesses are shuttering operations while the Federal Government seems hopelessly incompetent at fighting this thing. Meanwhile, local governments have created a dysfunctional patchwork of mandatory quarantines and arbitrary rules which will harm businesses and do little to fight the virus as people who don’t follow the quarantines will keep infecting those staying indoors (Full Disclosure: I’ve been staying home, eating my canned tuna and whiskey rations). It’s a complete mess and it is almost certain that economic conditions will get worse before they get better. I get all of that, in fact, it’s been pounded into my head every few minutes by just about everyone I know “which means they all get it as well. At some point, this gets priced in.

The Russell 2000 is now down 40% in a month and is currently at 2013 levels. How is it not getting priced in?

Moderna’s Experimental COVID-19 Vaccine Might Be Ready For Limited Use By The Fall

Moderna’s Experimental COVID-19 Vaccine Might Be Ready For Limited Use By The Fall

A human trial being held in Washington State to research a promising drug designed to fight COVID-19 is reportedly going better than expected, and it’s possible that a handful of infected patients – likely health-care workers – could be administered the drug by the fall.

Stephane Bancel, the biotech’s chief executive, told Goldman Sachs on Friday that mRNA-1273 could be made available to a few patients, likely health-care workers suffering from COVID-19, under emergency use authorization, according to a statement from the company picked up by Bloomberg.

Florida Man Faces Five Years For Stealing 66 Rolls Of Toilet Paper

Florida Man Faces Five Years For Stealing 66 Rolls Of Toilet Paper

Authored by Jonathan Turley,

It is truly a crime for our times…

In locked down India, world’s back offices have it the worst

In locked down India, world’s back offices have it the worstIndia’s data centers are vital for many global finance cos. Barclays has more than 20,000 staff in back offices.

548 districts in India under covid lockdown

548 districts in India under covid lockdownThe states which have imposed lockdown in all districts include Chandigarh, Delhi, Goa and Nagaland.

You may get more time to pay policy premium

You may get more time to pay policy premiumIRDAI has asked insurance firms to allow additional 30 days for paying life insurance policies’ premium.

The Conversation: How much exercise is OK during the coronavirus pandemic? What’s too risky?

Both too much and too little exercise are bad for you.

Key Words: Man who scored big wins during the 2008 financial crisis says the stock market could be ‘near a bottom’ if U.S. gets a coronavirus recovery plan

Hedge-fund manager David Tepper says there is nothing wrong with œnibbling at stocks that have experienced a brutal selloff in the past month, amid growing fears centered on the economic impact of the coronavirus pandemic.

Next Avenue: How to get Social Security help while the agency’s offices are closed

With all 1,200 field offices in the U.S. shuttered due to COVID-19, customer service is a challenge.