31Mar2020 Midday Update: Wall Street Bouncing Between The Unchanged Line As Investors Deal With Uncertainty, DOW Down 50 Points, WTI Crude Slips To 20.43, US Dollar Rises Fractionally

Here is the current market situation from CNN Money

North and South American markets are broadly higher today with shares in Brazil leading the region. The Bovespa is up 2.50% while Mexico’s IPC is up 2.46% and U.S.’s S&P 500 is up 0.19%.

Stocks slide, on pace for worst quarter since 2008

Global stock markets slid on Tuesday as investors continued to assess the economic damage from the coronavirus pandemic, leaving the MSCI benchmark of world equities on pace to finish its worst quarter since the financial crisis of 2008.

Oil edges higher after 18-year lows prompt U.S.- Russia talks plan

Oil prices firmed on Tuesday after U.S. President Donald Trump and Russian counterpart Vladimir Putin agreed to talks on stabilising energy markets, with benchmarks climbing off 18-year lows, though the coronavirus-related demand hit capped gains.

S&P 500 set for worst first quarter since 1938

Wall Street was set to open lower on Tuesday, with the S&P 500 headed for its worst first quarter since 1938 as evidence grew of the scale of the damage caused by the collapse in oil prices and business activity due to the coronavirus.

U.S. unemployment offices sitting on mountain of pending claims

Last week’s record-setting U.S. jobless claims number will be quickly surpassed, economists and state officials predict, as local labor offices digest a pile of pending applications, and the new stimulus bill extends benefits to the self-employed.

Furniture giant IKEA making masks to help fight coronavirus

Furniture giant IKEA is producing face masks and other protective gear for hospitals, joining a growing list of companies branching out of their normal business areas to help meet equipment shortages in the fight against coronavirus.

IMF extends bilateral borrowing arrangements through 2023

The International Monetary Fund said on Tuesday its board approved a new three-year framework for bilateral borrowing agreements, ensuring that its full $1 trillion lending capacity will be maintained as member countries battle the coronavirus pandemic.

Rolls-Royce targets in jeopardy as pandemic brings air travel slump

British aero-engine maker Rolls-Royce will likely have to slash its 2020 cash flow target after airline customers parked hundreds of planes due to the coronavirus pandemic, analysts said.

Goldman Sachs slashes second quarter U.S. GDP estimate further

Goldman Sachs said on Tuesday that the U.S. second quarter economic decline would be deeper than it had previously forecast and unemployment would be higher, citing anecdotal evidence and “sky-high jobless claims numbers.”

Coronavirus concerns delay restart of Ford’s North American production

Ford Motor Co said on Tuesday it was postponing its plan to restart production at its North America plants due to safety concerns for its workers amid the coronavirus pandemic.

Welcome To The Post-Virus World: “A Return To ‘Normal’ Is Not An Option”

Welcome To The Post-Virus World: “A Return To ‘Normal’ Is Not An Option”

Authored by Simon Johnson via Project Syndicate,

We live now in the post-virus world. For the United States, passage into this world came suddenly, less than a month ago. The world as we knew it before the arrival of COVID-19 has gone. It is never coming back.

“We’re Not Making Any April Payments” – Unprecedented Clash Erupts Between Tenants And Landlords

“We’re Not Making Any April Payments” – Unprecedented Clash Erupts Between Tenants And Landlords

Even before the coronavirus pandemic ground the US economy to a halt, the US brick and mortar retail sector was facing an apocalypse of epic proportions with dozens of retailers filing for bankruptcy in recent years as Amazon stole everyone’s market share…

Since June 2015, retail chains have accumulated more than $45 billion in aggregate chapter 11 liabilities in connection with over 80 bankruptcy filings: pic.twitter.com/Q1XO9pSWij

” First Day by Reorg (@ReorgFirstDay) August 20, 2019

… resulting in tens of thousands of stores across the nation shuttering.

CNN’s Chris Cuomo Diagnosed With Coronavirus

CNN’s Chris Cuomo Diagnosed With Coronavirus

CNN anchor Chris Cuomo has been diagnosed with COVID-19, the network said in a memo to employees on Tuesday.

“In these difficult times that seem to get more difficult and complicated by the day, I just found out that I am positive for coronavirus,” Cuomo wrote in a message on Twitter.

CNN reports that Cuomo was most recently at CNN’s offices in the Hudson Yards neighborhood of New York City last Friday. He anchored from his home on Monday, and interviewed his brother, New York Governor Andrew Cuomo.

“I have been exposed to people in recent days who have subsequently tested positive and I had fevers, chills and shortness of breath,” he wrote.

“I just hope I didn’t give it to the kids and Cristina. That would make me feel worse than this illness!”

Cuomo said Tuesday that he is “quarantined in my basement” and will “do my shows from here.”

“We will all beat this by being smart and tough and united!” he wrote on Twitter.

Empire State Building Debuts Dystopian Red “Siren” Light

Empire State Building Debuts Dystopian Red “Siren” Light

Authored by Paul Joseph Watson via Summit News,

The Empire State Building debuted what appeared to be a spinning red ‘siren’ light atop the iconic structure in what many observers saw as a dystopian sign of the times.

There’s only one way India can fix its Covid wrecked economy

There’s only one way India can fix its Covid wrecked economyGovt has no option but to print money and spend it to mitigate Covid-19 hit, Arundhati Bhattacharya said.

Small savings schemes to fetch lower returns

Small savings schemes to fetch lower returnsRates of these schemes have been slashed by between 70 bps and 140 bps for the Apr-June quarter.

India flexes its fiscal muscles to fight Covid

India flexes its fiscal muscles to fight CovidIndia aims to borrow Rs 4.88 lakh crore in the period, nearly 63% of its total annual borrowing plan.

March 2020 Conference Board Consumer Confidence Declines Sharply Due To Coronavirus

Written by Steven Hansen

The latest Conference Board Consumer Confidence Index’s headline number significantly declined, following an increase in February. The Index now stands at 120.0 (1985=100), down from 132.6 in February. A quote from the Conference Board: “March’s decline in confidence is more in line with a severe contraction – rather than a temporary shock – and further declines are sure to follow.”

This is how the $2 trillion coronavirus stimulus affects retirees ” and those who one day hope to retire

More protections for older people and flexibility with investment accounts

Key Words: CNN’s Chris Cuomo tests positive for coronavirus but will continue broadcasting his show from isolation

I have been exposed to people in recent days who have subsequently tested positive and I had fevers, chills and shortness of breath, Cuomo said. œI just hope I didn’t give it to the kids and Cristina. That would make me feel worse than this illness!

Coronavirus update: 803,650 cases, 39,033 deaths, and White House expected to release models showing trajectory of illness

The U.S. continued to lead the world in number of cases of COVID-19 on Tuesday, as state governors continued to complain about inadequate testing and predict that the worst is yet to come.