06Apr2020 Market Close: World Stock Markets Jumped Today, DOW Closed Sharply Higher At 4:25 At 1686 Points On Extremely High Volume, WTI Settles At 26.24, Gold Rising To 1667

Stocks jump as virus deaths slow; oil falls after OPEC+ delay

World stock markets jumped on Monday, encouraged by a slowdown in coronavirus-related deaths and new cases in some global hot spots, oil prices tumbled again due to a delay in talks between Saudi Arabia and Russia to cut supply.

Honda, Fiat Chrysler cancel all April U.S., Canadian auto production

Honda Motor Co and Fiat Chrysler Automobiles NV said on Monday they will extend their auto production shutdown in the United States and Canada to all of April.

New York, New Jersey see early signs of coronavirus ‘flattening’

The governors of New York and New Jersey said on Monday their states were showing tentative signs of a “flattening” of the coronavirus outbreak, but they warned against complacency as the nationwide death toll topped 10,000 and the number of cases reached 350,000.

Coronavirus muddies U.S. economic data as business closures push down response rates

A near total closure of U.S. businesses as authorities try to control the spread of the novel coronavirus could make U.S. economic data unreliable in the coming months and harder to get a clearer picture of the severity of the recession caused by the virus.

NYSE in talks with SEC to ease listing rules during coronavirus volatility

The New York Stock Exchange said on Monday it was in talks with regulators to temporarily ease its listing requirements to take the strain off companies that may have fallen out of compliance due to the market rout spurred by the coronavirus.

Oil falls after Saudi Arabia, Russia delay meeting, Cushing stockpiles soar

Oil prices slumped on Monday, pulling back from last week’s gains after Saudi Arabia and Russia delayed a meeting of oil producers aimed at resolving growing worldwide oversupply as the coronavirus pandemic pummels demand.

CVS ramps up drive-through coronavirus testing sites with faster kits

CVS Health Corp , called on by the Trump administration last month to help test Americans for infections from the new coronavirus, said it was launching two offsite testing locations with Abbott Laboratories’ faster diagnostic kit and would be able to handle 1,000 tests per day.

Fed says it will provide financing against new U.S. ‘payroll protection’ loans

The Federal Reserve on Monday moved to bolster a new small-business lending program by allowing banks to turn those loans over to the U.S. central bank for cash, easing concerns among banks about getting stuck holding the low interest loans.

Tiger at New York’s Bronx Zoo tests positive for coronavirus

A tiger at the Bronx Zoo in New York City has tested positive for the respiratory disease caused by the novel coronavirus, in the first known case of a human infecting an animal and making it sick, the zoo’s chief veterinarian said on Sunday.

Gold Soars To 8-Year Highs As Stocks Melt-Up On Massive Short-Squeeze

Gold Soars To 8-Year Highs As Stocks Melt-Up On Massive Short-Squeeze

Some positive second-derivatives in various state and nation case- and death-count-curves appeared to spark hope in stocks…

The Fraud That Is ESG Strikes Again: Six Of Top 10 ESG Funds Underperform The S&P500

The Fraud That Is ESG Strikes Again: Six Of Top 10 ESG Funds Underperform The S&P500

While the global coronavirus pandemic has had its share of tragic consequences, including tens of thousands dead, a near halt in the global economy, millions of businesses on the verge of collapse, and the biggest intervention of central banks in capital markets in history, there have been two distinctly positive consequences: the collapse in oil prices and the decimation across the buyside has meant that Greta Thunberg and her carefully scripted climate cult have been all but forgotten, and that the ESG insanity shoved down everyone’s throat by virtue signaling banks desperate to find a new revenue source is about to go extinct.

As a reminder, two months ago we reported that when virtue-signaling tour de force that is ESG, or Environmental, Social, and Governance, is anything but, as a quick look at the most popular holdings across the various ESG funds revealed.

Kunstler: “Understand This!” – Ponzi Schemes Don’t Bounce-Back

Kunstler: “Understand This!” – Ponzi Schemes Don’t Bounce-Back

Authored by James Howard Kunstler via Kunstler.com,

You understand, there will be no meaningful resuscitation of the dear, departed, so-called greatest boom in history. Ponzi schemes don ‘t œbounce back, they collapse for the simple reason that the pieces holding them up were not really there.

Such are the unanticipated consequences of a media over-saturated culture that we were so easily deceived by appearances.

UK PM Boris Johnson Taken To ICU As COVID-19 Symptoms Worsen Dramatically

UK PM Boris Johnson Taken To ICU As COVID-19 Symptoms Worsen Dramatically

Update (1525ET): Perhaps after witnessing the drop in the pound, No. 10 Downing Street has released some more information about Johnson’s condition. HMG said Johnson is conscious, and that he was moved to the ICU “as a precaution.”

Although we suspect many patients who haven’t pulled through have been told the same thing. Fortunately for BoJo, he’s the PM, and thus an extremely high priority patient.

Fortunately, Johnson is conscious (assuming he isn’t already being “Weekend at Bernies”-ed), and as long as he stays that way, his odds of survival should remain strong.

Remember, the most important factor here is whether or not Johnson has been moved to a ventilator. The fact that Downing Street is saying he’s still conscious suggests he hasn’t been placed on ventilation, since most patients are placed in a medically-induced coma before that happens (it’s difficult to tolerate being intubated while conscious).

Even in the most sophisticated hospitals in the world, once a patient is placed on a ventilator, their chances of survival shrink dramatically. NPR reminds us that most patients placed on a ventilator “still die” (mortality rates can soar to 80%, or higher, for the most high-risk patients). Ventilators can also increase the likelihood that a patient develops a dangerous secondary bacterial infection like we described below. These types of secondary infections are often what ultimately what kil …

Rakesh Mohan on why Covid-hit economy needs a booster dose

Rakesh Mohan on why Covid-hit economy needs a booster doseWhatever government announces now, will have to be larger in scale than before, Rakesh Mohan said.

First slump, now Covid hits auto dealers

First slump, now Covid hits auto dealersCoronavirus pandemic will negatively impact demand for automobiles, according to Ind-Ra.

Covid may be India’s chance to replace China

Covid may be India’s chance to replace ChinaThe way India exits the lockdown will demonstrate its reliability as a global alternative for the future.

Capitol Report: ‘Phase 4’ coronavirus package could pass Congress between late April and mid-May, analysts say

As Washington works on its fourth legislative response to the coronavirus crisis, analysts are predicting that the next big spending deal isn’t likely to become a reality for weeks.

Key Words: Wall Street star money manager says S&P 500 could plunge to 1,500 in worst case, with coronavirus fallout lingering for years

Scott Minerd is looking for opportunities to dip his toes into the coronavirus-stricken market. However, you may not find him wading into equities soon if current market trends hold.

Capitol Report: Schumer keeps up fight with Trump over equipment czar and Defense Production Act

Senate Minority Leader Chuck Schumer on Monday continues a recent coronavirus-related tussle with President Donald Trump. He wants a œsenior military official to oversee production and distribution of medial gear, as well as œfully invoke the Defense Production Act.