Written by Gary
US manufacturing activity plunges to 11-year low as orders sink, another week of weak data (SPY -2.7%). ECRI’s WLI improves again but remains deep in contraction.
Here is the current market situation from CNN Money | |
North and South American markets are mixed. The IPC is higher by 1.78%, while the Bovespa is leading the S&P 500 lower. They are down 3.20% and 2.78% respectively. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
World Stocks fall as Trump’s China tariff threat dampens risk appetiteA decline on Wall Street dragged stocks across the world further down on Friday on concerns that the two largest economies could resume a trade war, with many financial markets globally closed for a holiday. | |
Embraer suffered ‘pain’ in preparing Boeing deal, commercial head saysThe head of Embraer’s commercial aircraft unit defended the benefits of a $4.2 billion tie-up abandoned by Boeing Co last week, but said the Brazilian aerospace group was focusing on its future as a re-united company. | |
U.S. manufacturing activity plunges to 11-year low as orders sinkU.S. manufacturing activity plunged to an 11-year low in April as the novel coronavirus wreaked havoc on supply chains, suggesting the economy was sinking deeper into recession. | |
U.S. airlines mandating facial coverings for all passengersThe largest U.S. airlines are moving rapidly to mandate facial coverings for all passengers, with Southwest Airlines Co and Alaska Airlines on Friday joining other major airlines in imposing the measure to address the spread of the coronavirus and convince reluctant passengers to resume flying. | |
U.S. House panel calls on Amazon’s Bezos to testify on third-party sellersThe U.S. House of Representatives Judiciary Committee on Friday called on Amazon.com < AMZN.O> founder Jeff Bezos to testify to the panel about allegations that the online retailer uses data from its own third-party sellers to create competing products. | |
Wall St. slides as Trump warns of new China tariffsWall Street’s main indexes fell on Friday after President Donald Trump threatened to slap new tariffs on China over the coronavirus crisis, while a profit warning from Amazon added to the gloom. | |
Think Wall Street’s back to normal? Not so fast, options markets sayOptions investors are preparing for more volatility ahead despite last month’s sharp rebound in U.S. stocks, reflecting doubts that markets will be quick to return to their former highs in the middle of the coronavirus pandemic. | |
Ford Chairman’s daughter joins board of directors at EV startup RivianFord Motor Co said on Friday Executive Chairman Bill Ford Jr’s daughter would immediately join electric vehicle startup Rivian’s board of directors. | |
Take Five: Trade winds to blow again?China has headed off on Labour Day holidays but its leaders won’t be resting easy. U.S. President Donald Trump has ratcheted up anti-China rhetoric again. He is threatening trade tariffs to punish Beijing for its alleged failure to contain the coronavirus, even accusing a Chinese lab of manufacturing the pathogen. | |
“They’re All High On Fed Fairy Dust…”“They’re All High On Fed Fairy Dust…” Authored by Michael Maharrey via SchiffGold.com, Everybody realizes the US economy is in a bad spot. But most people still seem to believe it will bounce right back once we deal with the coronavirus. They’re all high on Federal Reserve fairy dust. | |
Cuomo Says New York Schools Won’t Reopen Until Fall As COVID-19 Deaths Slow For 6th Day: Live UpdatesCuomo Says New York Schools Won’t Reopen Until Fall As COVID-19 Deaths Slow For 6th Day: Live Updates Summary: Texas starts reopening Michigan Gov extends lockdown Japan sending Avigan to 43 countries for clinical trials Florida case count hits 34,728 NY schools to remain closed for rest of academic year NYC Mayor says city not yet ready to reopen 1 in 5 working-age Americans filed for unemployment benefits Ryanair lays off 15% of staff Dr. Fauci warns states against “leapfrogging” Left-wing demonstrators from Greece to Germany flout social distancing rules for “May Day” rallies UK warns that defective ventilators from China could kill patients *Â Â Â Â Â Â Â Â *Â Â Â Â Â Â Â Â * Update (1150ET): And the headlines are rolling in: NEW YORK 3-DAY ROLLING AVERAGE OF NEW COVID-19 HOSPITALIZATIONS AT 954 ON APRIL 30, VS 933 A DAY EARLIER – GOVERNOR CUOMO NEW YORK STATEWIDE CORONAVIRUS DEATHS INCREASE BY 289 ON APRIL 30, VS. 306 DEATHS A DAY EARLIER – GOVERNOR CUOMO NEW YORK GOVERNOR CUOMO SAYS STATE SCHOOLS WILL REMAIN CLOSED FOR REMAINDER OF ACADEMIC YEAR NEW YORK GOVERNOR CUOMO SAYS STATE SCHOOLS WILL REMAIN CLOSED FOR REMAINDER OF ACADEMIC YEAR CUOMO: SCHOOLS SHOULD START DEVELOPING REOPENING PLAN NOW CUOMO: NO DECISION ON THE FALL YET FOR SCHOOLS And from Cuomo’s twitter account:
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Illinois Governor Fumes Over ‘Reprehensible’ Question About Wife’s Bugout To $12 Million Florida EstateIllinois Governor Fumes Over ‘Reprehensible’ Question About Wife’s Bugout To $12 Million Florida Estate While Democrats are by and large the staunchest proponents of “stay-at-home” orders aimed at slowing the spread of the Wuhan coronavirus, the rules apparently don’t apply if you’re a governor’s wife. < … | |
Do We Need A “New” Capitalism?Do We Need A “New” Capitalism? Authored by Calhoun via Alhambra Investments, Everyone, or at least all the ‘right-thinking’ people, believes that capitalism needs to be reformed. Elizabeth Warren calls her version Accountable Capitalism. Marco Rubio dusted off an 1891 speech by Pope Leo to advocate what he calls Common Good Capitalism. | |
India shut for 2 more weeks, split into red, orange & green zonesIndia shut for 2 more weeks, split into red, orange & green zonesThe extension will see some relaxations which will be regulated based on the spread of the virus in districts. | |
Should India print money to fix economy?Should India print money to fix economy? ‹ ‹The US, the European Central Bank, Japan are all printing money to bring economies back to life. | |
India readies plan to woo firms ditching ChinaIndia readies plan to woo firms ditching ChinaModi has hinted at a major push to boost investments and capture part of supply chain that may move out of China. | |
24 April 2020 ECRI’s WLI Improves Again But Remains Deep In ContractionWritten by Steven Hansen ECRI’s WLI Growth Index which forecasts economic growth six months forward improved, remains in contraction, and remains at a level below the values seen during the Great Recession. | |
London Markets: U.K. stocks close lower and U.S. stocks fall as Trump threatens China with tariffs and earnings spook investorsBritish stocks and U.S. futures moved lower early on a quiet Friday as investors digested earnings warnings, gloomy economic data and the potential resumption of U.S.-China trade tensions. | |
Elon Musk tweets that Tesla shares are ‘too high’Tesla Inc. CEO Elon Musk stirs fresh Twitter controversy on Friday, saying the Silicon Valley car maker’s stock was œtoo high, prompting a steep decline for the stock. | |
NewsWatch: Dow down over 450 points as Trump threatens new China tariffs, earnings disappointStock-index futures slump Friday as investors show disappointment with earnings from big tech companies and President Donald Trump threatens to impose tariffs on China in retaliation for its handling of the COVID-19 pandemic. |
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