Written by Gary
US major indexes are flying high despite a record number of new unemployment filings (SPY +4.5%). The possibility that there is more stimulus to come rests well with investors.
Here is the current market situation from CNN Money | |
 | North and South American markets are sharply higher today with shares in U.S. leading the region. The S&P 500 is up 4.87% while Brazil’s Bovespa is up 3.41% and Mexico’s IPC is up 1.88%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| Morgan Stanley promises no job cuts in 2020 as coronavirus crisis growsMorgan Stanley pledged to not cut any jobs this year, according to a memo seen by Reuters, as the Wall Street bank sought to reassure employees worried about their jobs during the coronavirus pandemic. |
| IATA pleads for more help for airlines after U.S. offers $58 billion aidThe International Air Transport Association (IATA) on Thursday urged the world’s major economies to act quickly to prevent irreversible damage to an airline industry that has seen demand crushed by the coronavirus crisis. |
| Deutsche Bank studies state aid for staff in coronavirus crisisDeutsche Bank is for the first time considering asking its German staff to cut their hours and take government money instead as it tries to navigate the coronavirus crisis. |
| German airline Condor applies for 200 million euro in state aid: sourcesThe German airline Condor has applied for an additional 200 million euros in state aid in the wake of the coronavirus outbreak, two people with knowledge of the matter said on Thursday. |
| Oil prices sink as crippled demand outweighs stimulus hopesOil prices fell on Thursday after three sessions of gains as restrictions on travel worldwide crimped fuel demand, with U.S. crude futures plunging about 4% after the United States scrapped plans to buy domestic oil for its emergency reserve. |
| IMF asks G20 to back doubling of its emergency financing to fight coronavirusThe International Monetary Fund on Thursday asked G20 leaders to back a doubling of its emergency financing capacity to strengthen its response to the rapidly spreading coronavirus pandemic that is set to cause a global recession in 2020. |
| WeWork has enough cash to meet coronavirus challenges: letterShared-office operator WeWork told investors on Thursday the $4.4 billion in cash and cash commitments it had at year-end 2019 is enough to execute its five-year plan and manage the challenges posed by the coronavirus crisis. |
| Stocks up on $2 trillion stimulus Wall Street rally; dollar takes a hitA Wall Street rally powered global gains in stocks on Thursday despite a record number of new unemployment filings in the United States, as traders focused on the unanimous passage of a $2 trillion coronavirus relief bill in the U.S. Senate and the possibility that there is more stimulus to come. |
| Geely’s Volvo Cars warns virus outbreak to hit 2020 earningsSweden’s Volvo Car Group, owned by China’s Geely, scaled back its guidance for the full year, warning that sales, earnings and cash flow in the first half of 2020 would decline from a year ago as the coronavirus pandemic weighed on its business. |
| 72% Of Americans Now Avoiding All Public Places: Gallup Poll72% Of Americans Now Avoiding All Public Places: Gallup Poll A new Gallup poll released Tuesday found that 72% of American adults are now practicing social distancing, including avoiding going into public places like stores and restaruants. Just last week even after Trump’s March 13 national ‘state of emergency’ declaration, it was 54% that said at the time they were putting the same measures into place. The largest category answering in the affirmative in this newest Gallup survey is among those who say they are avoiding large crowds as well as mass transit, at a whopping 92%. And in what’s already being felt as a stunning blow to the aviation industry which stands on the brink of perhaps temporarily shutting down altogether, 87% are avoiding all air and other travel involving crowded transit venues. < … |
| The Great Dollar ShortageThe Great Dollar Shortage Authored by James Rickards via The Daily Reckoning, The coronavirus pandemic is a human tragedy. It’s also an economic tragedy, as the global economy is collapsing around us. |
| Joe Biden Says “We’ve Had Enough Debates” As The Atlantic Urges Him Simply To ‘Stay Alive’Joe Biden Says “We’ve Had Enough Debates” As The Atlantic Urges Him Simply To ‘Stay Alive’ The Libertarian Institute’s Scott Horton hilariously observes “Old Man Biden just ain’t up to talking for an hour without a teleprompter. Could the Democrats have run out of cocaine?” Biden said this week, “I think we’ve had enough debates” suggesting an unwillingness to spar on stage again with Sen. Bernie Sanders during a planned April DNC debate. œMy focus is just dealing with this crisis right now. I haven’t thought about any more debates. I think we’ve had enough debates. I think we should get on with this, Biden said in a statement. This after a series of deeply awkward television interview segments.
No wonder his staff kept him essentially hidden last week as Sanders held near daily telecasts discussing the coronavirus pandemic. Under pressure from Democratic supporters to be an active voice amid the national debate, given he … |
| “This Is It!”“This Is It!” Authored by Kevin Smith and Tavi Costa via Crescat Capital, This is it! |
| One of India’s top doctors on how to win battle against Covid-19One of India’s top doctors on how to win battle against Covid-19Just by changing MCI regulations, India can produce over 1.5 lakh doctors and specialists out of thin air. |
| 70 drugs identified for the great Covid fight70 drugs identified for the great Covid fightAccording to researchers, some of the drugs are already used to treat diseases such as diabetes & hypertension. |
| IT cos struggle to navigate covid challengesIT cos struggle to navigate covid challengesThe scale of transitioning work from office to home is staggering for Indian IT. |
| Regulators urge banks and credit unions: Help your customers during the coronavirus emergencyBanking regulators say banks and credit unions should offer small-dollar loans to customers in response to the COVID-19 outbreak. |
| Dividend ETFs may lose out under the $2 trillion coronavirus relief billThe œCares Act specifies that any companies that borrow from the U.S. government may not buy back shares of their stock or pay dividends to shareholders for at least one year after the loan is paid back. |
| Key Words: Man who called 1987 crash says ‘be careful not to mythologize’ coronavirus into a ‘pandemic Godzilla,’ predicts stocks will rebound in a few monthsBillionaire investor Paul Tudor Jones on Thursday said that American’s will beat deadly coronavirus, while sharing his own personal narrative that his daughter contracted the illness recently and has since recovered. |
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