Stocks attempted to rally on Friday, but failed, concluding one of the most volatile weeks on Wall Street ever as investors grapple with mounting fears over the coronavirus’ economic blow.
China is the world’s largest consumer of coal, and accounts for nearly half of global investment in renewable energy.
For privately run companies in China wanting to be part of the projected growth in renewables, just being in the right industry isn’t a guarantee.
The sharp decline in the valuation of companies such as Shenwu highlights the large risks such energy technology companies must take on, and the fallout if cash flow, construction contracts, production and orders fail to align.
Zoom’s revenue growth picked up significantly during the quarter.
The company more than doubled its revenue guidance for the fiscal year as well.
Many people have flocked to Zoom in recent months to virtually meet with colleagues, classmates, friends and family members as the coronavirus has continued to spread.
Global stock averages have been captured by an extremely volatile environment for both shorter-term traders and long-term investors since 2019, with the focus last year very much on the trade dispute between the United States and China.
The S&P 500 gained 0.8% to close at 3,080.82, reaching its session high with less than 30 minutes left in the session. Tuesday’s gains put the S&P 500 up more than 40% from its late-March intraday low.
SpaceX on Saturday launched NASA astronauts Bob Behnken and Doug Hurley into orbit, successfully beginning the company’s first crewed mission.
The launch also represents the first time NASA has launched its own astronauts since the end of the space shuttle program nearly a decade ago.
The stock market’s internal rotation into beaten down names, like airlines and small caps, is expected to continue to be a theme in the week ahead as the economy continues to reopen.
Rising tensions between Washington and Beijing could become an increasing headwind for stocks, particularly the technology sector, which is most exposed on a revenue basis and through its supply chain.
Managers have been plotting for weeks on how to bring employees back to its Times Square headquarters, helped in part by what they’ve learned by reopening their Asia offices and an informal consortium of banks including JPMorgan Chase and Wells Fargo, according to the people.
President Donald Trump announced Friday that the United States will cut ties with the World Health Organization.
Earlier this month, Trump threatened to permanently cut off U.S. funding of the WHO.
He has claimed the WHO is “China-centric” and blames the agency for advising against China travel bans early in the outbreak.
United is cutting 13 of its 67 officers to try to save money because of coronavirus.
The departures will be effective Oct. 1, after the terms of billions in federal aid expire.
United and other airlines have been urging employees to take buyouts and other voluntary separation packages.
