Plus, Fed Chairman Powell said the U.S. economy could shrink 30% in the second quarter, oil surged to a two-month high, and FedEx and Microsoft are teaming up to “transform commerce” with a new data service.
Read MoreThe U.S. economy may look back on the coronavirus crisis as the Second Depression, Jones said this week. Here’s what you need to know.
Read MorePlus, House Democrats unveiled their latest coronavirus relief bill, Sanofi said the U.S. will get its COVID-19 vaccine before the rest of the world if successful, JCPenney is talking with lenders ahead of an expected bankruptcy filing, and Tesla won its battle to start reopening its Fremont, CA plant.
Read MoreSeveral experts have a warning smart investors may want to heed.
Read MorePlus, the FDA is moving at “lightning speed” to review data on Gilead’s remdesivir treatment for COVID-19, Tesla CEO Musk decried stay-at-home orders in an expletive-filled earnings call rant, Macy’s plans to reopen all of its stores within the next six weeks, and American Airlines reported it lost more than $2.2 billion last quarter.
Read MorePlus, U.S. GDP contracted 4.8% in the first quarter, Spotify saw a 31% increase in active premium subscribers to its music streaming platform in the first quarter, while Boeing is cutting its payroll costs by 10% amid an aviation market “frozen” by the coronavirus pandemic.
Read MorePlus, the Fed’s Kashkari said the U.S. could face 18 months of rolling shut downs due to the coronavirus, the WHO said there are currently 70 vaccines in development for the novel virus globally, Amazon said it is hiring another 75,000 workers as demand continues to surge, and Ford warned of a 15.7% drop in first quarter revenue.
Read MorePlus, the Trump Administration is reportedly launching a new coronavirus task force focused on the economic devastation caused by the pandemic, oil rose on reports Saudi Arabia and Russia have come to agreement on a massive production cut, and airline stocks are on the rise after Mnuchin said airlines could hear back on their applications for government aid by as soon as tomorrow.
Read MorePlus, the Trump Administration is reportedly launching a new coronavirus task force focused on the economic devastation caused by the pandemic, oil rose on reports Saudi Arabia and Russia have come to agreement on a massive production cut, and airline stocks are on the rise after Mnuchin said airlines could hear back on their applications for government aid by as soon as tomorrow.
Read MoreThere’s just one catalyst that could trigger a meaningful rally higher. Here’s what investors need to know.
Read MorePlus, the Fed issued new initiatives in an effort to calm the market, the Senate is still negotiating a $2 trillion stimulus package, GE’s aviation unit is laying off 10% of its workforce, and CVS is hiring 50,000 workers.
Read MorePlus, the Trump administration is seeking a third coronavirus stimulus package, the WHO warns that the virus can in some cases survive in the air, and Cisco said that there have been 5.5 billion meeting minutes for its Webex video conferencing platform since the start of the month.
Read MorePlus, airlines could be in danger, and Regeneron and Sanofi are soon to begin human trials on a treatment for COVID-19.
Read MorePlus, Congress and the Trump Administration are nearing a coronavirus aid package, and the Fed began buying Treasurys.
Read MorePlus, Pfizer announced it is initiating a program to screen antiviral drugs in its pipeline to identify possible treatments for the coronavirus, Target and Kohl’s reported earnings, and Thermo Fisher is buying Qiagen.
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