Written by Gary
Slow session as investors take a back seat before the weekend (SPY +0.3%). Baker Hughes reports U.S. weekly active oil-rig count down 60 to 378.
Here is the current market situation from CNN Money | |
 | North and South American markets are mixed today. The IPC is up 0.48% while the S&P 500 gains 0.33%. The Bovespa is off 7.75%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| As U.S. coronavirus death toll tops 50,000, Georgia forges ahead with reopeningWith the U.S. coronavirus death toll topping 50,000, Georgia pushed ahead with its plan to become the first state to allow an array of small businesses to reopen on Friday despite the disapproval of President Donald Trump and health experts. |
| Coronavirus came to New York from Europe, not China: governorNew York Governor Andrew Cuomo said on Friday that strains of the novel coronavirus that first infected his state’s residents came from Europe, not China, and that the ban on travelers from China came too late to halt its spread. |
| Trump signs fourth coronavirus relief bill into law, pushes back against USPS aidU.S. President Donald Trump on Friday signed a nearly $500 billon coronavirus relief bill into law to expand loans for small businesses reeling from the outbreak, as his Treasury secretary promised surveillance to stop bigger companies from accessing the funds. |
| Mnuchin says U.S. may take stakes in U.S. energy companiesThe Trump administration is considering taking stakes in U.S. energy companies as one possible option as it seeks to help the nation’s oil and gas sector amid the coronavirus outbreak, U.S. Treasury Secretary Steven Mnuchin said on Friday. |
| French court backs workers in Amazon row over virus measuresA French court on Friday rejected Amazon’s appeal against a ruling that restricts what it can deliver during the coronavirus crisis, handing a victory to unions which had criticised the U.S. e-commerce giant’s safety measures. |
| Dyson says UK government does not need its COVID-19 ventilatorVacuum cleaner company Dyson said the British government no longer needed the ventilator it had developed from scratch to help plug a shortfall of the devices needed to treat patients with severe COVID-19 symptoms. |
| GM’s mask operation: a glimpse into the factory of the coronavirus eraBefore the coronavirus outbreak shut them down, U.S. auto factories were hectic workplaces where men and women worked side by side along fast-moving assembly lines, ate in crowded break areas, and jostled in and out of gates as they changed shifts. |
| Boeing-Embraer deal hits new roadblock as deadline nears: sourcesA $4.2 billion deal for Boeing to buy the civil jetmaking arm of Brazil’s Embraer has hit a roadblock over implementation, leaving its fate uncertain unless a breakthrough can be found quickly, people familiar with the talks said. |
| Wall Street curtails corporate lending in Europe to put America first: sourcesU.S. investment banks are shrinking lending activity in Europe as the coronavirus crisis forces them to retreat home, allowing BNP Paribas and other European lenders to fill the funding gaps and grab market share, seven sources told Reuters. |
| Trump Says Comments About Consuming Or Injecting Disinfectant Were “Sarcastic”Trump Says Comments About Consuming Or Injecting Disinfectant Were “Sarcastic” Update (1300ET): President Trump has officially walked back last night’s bonkers comments about using “sunlight” and “disinfectant” to cure the coronavirus. TRUMP SAYS COMMENTS ON DISINFECTANT INSIDE PEOPLE’S BODIES TO FIGHT CORONAVIRUS WAS SARCASTIC TRUMP SAYS DISINFECTANT ON HANDS COULD HAVE VERY GOOD EFFECT He sloughed off the comments as “sarcasm,” though he couldn’t entirely give up on the original point that drew him in to this whole nonsensical mess, adding that he wants these measures to be reviewed, just like every one. TRUMP SAYS HE WANTS REVIEW OF SUN, HEAT EFFECT ON VIRUS IN BODY Trump might need to read some of our earlier posts about what’s going on in Singapore. *Â Â Â Â Â Â Â *Â Â Â Â Â Â Â * Love him or hate him, we believe many would agree that President Trump has made some pretty wild comments during his tenure in office, largely because he often insists on speaking extemporaneously, with little in the way of prep or review (remember when Trump sent markets reeling after mistakenly saying the US would cut off trade with Europe to fight the virus? That was only like six weeks ago). Is this the most responsible approach to leading the country? Probably not, but it’s definitely a huge part of Trump’s appeal, adding an extra sheen of authenticity to everything he says. And though he ha … |
| The “Hiro” They Deserve: Tesla Brings On Vocal Anti-Short-Selling-Official As “Independent” DirectorThe “Hiro” They Deserve: Tesla Brings On Vocal Anti-Short-Selling-Official As “Independent” Director Hiromichi Mizuno has been appointed to Tesla’s Board of Directors, the company announced on Thursday. He will also serve on the company’s audit committee, according to filings made on Thursday. And who better to help oversee Tesla? After all, Mizuno’s track record includes overseeing Japan’s $1.5 trillion Government Pension Investment Fund for the last 5 years. In his time as portfolio manager, he has emphasized the environment and sustainable investing, according to Nikkei. He has also conveniently made a reputation for “challenging short-selling to promote long-term value creation by corporations.” He halted stock lending from the $400 billion GPIF portfolio in December, apparently fitting right in with Musk, who has woven his own conspiratorial narrative about the evils of short sellers, whom he once called “jerks who want us to die.” “I never met a short seller who has a long-term perspective,” Mizuno once said to FT. |
| Bitcoin Bid? To Halve And To Hold…Bitcoin Bid? To Halve And To Hold… Authored by Ashish Singhal via CoinTelegraph.com, The upcoming Bitcoin halving may result in greater demand and higher prices, but what are the challenges for the 2020 halving? |
| Trump Will Try To Delay Election – Biden Claims In Latest “Conspiracy Theory Ramblings”Trump Will Try To Delay Election – Biden Claims In Latest “Conspiracy Theory Ramblings” Joe Biden is floating the mother of all campaign conspiracy theories, saying President Trump is planning to push back the presidential election using COVID-19 as an excuse in order to maintain power and ultimately win another four years in office. œMark my words I think he is gonna try to kick back the election somehow, come up with some rationale why it can’t be held, the presumptive Democratic nominee said Thursday during an online fundraiser. œThat’s the only way he thinks he can possibly win. œIt’s un-American, Biden said of Trump’s recent behavior and alleged future plans to manipulate the electorate. œWe have to figure out how we are going to conduct a full and fair and safe election in November and no one should have to risk their lives to cast a ballot, Biden added. |
| Facebook-Jio deal threatens to change everything for PaytmFacebook-Jio deal threatens to change everything for PaytmThe partnership with Reliance will give WhatsApp an inside track on payments for Reliance’s retail unit. |
| Job offers dry for IITians in Covid seasonJob offers dry for IITians in Covid seasonIITs are in constant touch with recruiters and alumni as 3 out of 10 students do not have job offers yet. |
| Bride and Zoom: Weddings in times of CovidBride and Zoom: Weddings in times of CovidNuptials fixed months before have been hurriedly transformed into digital ceremonies over Zoom, YouTube and Google Hangouts. |
| 17 April 2020 ECRI’s WLI Improves But Remains Deep In Contraction
ECRI’s WLI Growth Index which forecasts economic growth six months forward declined, remains in contraction, and remains at a level below the values seen during the Great Recession. ECRI also released its lagging indicator for March. |
| Business in the Age of COVID-19: Google braved one recession, and Alphabet is more diversified as coronavirus roils rivalsAlphabet Inc.’s Google lords over the online-advertising market, which is both a blessing and a curse in the age of coronavirus. |
| CityWatch: The coronavirus changes everything in New York: Let us count the waysWould you ever have imagined that there would be parking spots, or that you’d actually eat leftovers and TALK on the phone? |
| Capitol Report: Trump signs into law $484 billion bill that replenishes coronavirus aid program for small businessesPresident Donald Trump on Friday signs into law a $484 billion measure that provides additional money for a coronavirus aid program for small businesses, following the House’s approval of it on Thursday and the Senate’s OK on Tuesday. |
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