Tag Archives: coronavirus

Led by U.S. Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell, a G-7 call will be devoted to the discussions of the coronavirus outbreak and its economic impact.Financial ministers and central bankers from all over the world are planning to hold a conference call on Tuesday in order to coordinate their financial and economic responses regarding the spreading coronavirus. The teleconference call will be led by Treasury Secretary Steven Mnuchin and Federal Reserve...

Robinhood online brokerage app crumbled on March 2 when the Dow Jones gained its most single-day points, leaving investors frustrated unable to take advantage of the market recovery.After the stock markets imploded last week due to the fears of the coronavirus spread, traders were ready on March 2 to cut some of those losses. However, that was not meant to be for all Robinhood investors. Robinhood, the brokerage platform, suffered a prolonged outage and was offline for a whole U.S. trading...

The market bounce at the beginning of the week was partly driven by expectations that the Federal Reserve would step in to mitigate the coronavirus impact by cutting the key interest rates.Stocks made quite of a ricochet yesterday after their worst week since the financial crisis back in 2008. The Dow Jones Industrial Average posted its best gain in more than 10 years mostly boosted by the expectation that the Fed will lower interest rates.Dow Jones Industrial Average jumped over 1,290 points...

Despite the massively weakening demand in the European market, the TSLA stock surged 11% on Monday beating down the bears. Reportedly Tesla is focusing on strengthening its position in the North American market.On Monday, March 2, the Tesla Inc (NASDAQ: TSLA) stock gained over 11% with its price moving close to $750 but Morgan Stanley still asks investors to be cautious. This recovery came amidst the broader markets showing marginal recovery on Monday. Although the COVID-19 cases have been on...

As the U.S. 10-year Treasury yield has fallen to a new low, many analysts believe that an economic recession is likely to happen. Investors are looking at bonds as a haven.The U.S. 10-year Treasury yield has fallen below 1.04%. This drop came as other rates in the United States have been dropping as well. This is occurring due to the global economic disruptions caused by the emergence of the coronavirus. Already, Wall Street has reportedly been calling for the Federal Reserve to intervene via...

Apple stock fell almost 7% on Friday because of the coronavirus. However, AAPL recovered a huge chunk of its loss in no time. Today it is also up.Apple Inc (NASDAQ: AAPL) stock is by far one of the most interesting in the market today. It has enjoyed quite the bull run for months, profiting off the success of its flagship iPhone 11 series and the new AirPods as well. In the period from the beginning of last year and into 2020, Apple pulled in returns of over 90% for its investors. However,...

As major biotech companies try to create a proper coronavirus vaccine, the following stocks just might be strong enough to hedge against the current financial plunge.The coronavirus epidemic isn’t letting down as many people hope it would. Instead, the number of confirmed cases as well as the mortality rate, are on a steady rise. The number of countries affected by the virus is also increasing steadily with many more countries confirming new cases of infection. The situation is worrisome to...

After a massive bloodbath last week, the markets are showing signs of recovery as indexes turn positive. Dow Futures are surging. But China’s manufacturing Index for February has scored below market expectations.Last week, the rising cases of coronavirus globally pushed the traditional stock markets in a bloodbath. All indices – Dow Jones, S&P 500, and Nasdaq – corrected around 10%. This was the fastest correction witnessed by the market since the global economic recession of...

At the time of writing, bitcoin – the world’s number one cryptocurrency by market cap – has shot up to just under $8,700.Bitcoin – On a Path to Recovery?Yesterday, the asset was trading at a measly $8,300, the lowest it has been in some time. Thus, the currency has shot up by more than $300 in just 24 hours. Not only is this good news, but it also suggests some truth to a recent piece suggesting that bitcoin, despite all the global problems it was facing, would not fall below the $8,200 line...

Equities on major United States stock markets closed the trading session on Friday mostly lower, ending the worst week since the 2008 financial crisis. The Dow Jones and S&P 500 each dropped 12% and 11% in a week.Wall Street went through a historic drop this week all “thanks” to fast-spreading coronavirus that worried investors and traders. Novel coronavirus (COVID-19) developments grabbed the investors’ focus as the World Trade Organization (WHO) updated the coronavirus global risk to...