The World Health Organization said the number of newly reported cases globally hit a daily record this week, amid authorities around the world attempting to ease lockdown measures put in place to curb the virus’ spread.
Overnight on Wall Street, the S&P 500 advanced 1.7% to 2,971.61, its highest closing level since March 6. Wednesday’s advance stateside put the major averages up more than 3% for the week.
The hit to the world’s third-largest economy comes amid fresh concerns about weakness in the current quarter, as the coronavirus damages output and tourism, stoking fears Japan may be on the cusp of a recession
Alibaba’s Jack Ma, China’s richest man, is stepping down from the board of SoftBank on June 25.
SoftBank’s Vision Fund reported losses of $18 billion on Monday, while the SoftBank Group as a whole had losses of $13 billion.
Big bets on companies like Uber, WeWork and Oyo have not paid off for the SoftBank Vision Fund.
The Dow Jones Industrial Average closed 911.95 points higher, or 3.9%, at 24,597.37. The S&P 500 gained 3.2% to close at 2,953.91 while the Nasdaq Composite advanced 2.4% to 9,234.83. The Dow and S&P 500 both had their biggest one-day gains since April 6 while the Nasdaq posted its best rally since April 29. The S&P 500 also closed at its highest level since March 6.
Anonymous bitcoiners are taking the search for a coronavirus vaccine into their own hands, bypassing academia, pharmaceutical companies and the U.S. Food and Drug Administration (FDA).
The price action over the past few days has undoubtedly been positive for Bitcoin. After bottoming at $8,180 on the day of the block reward halving, the cryptocurrency has shot higher, approaching $9,900 just hours ago.With the price now consolidating around $9,800, analysts are hopeful that BTC will break past $10,000.
During the last few years, blockchain surveillance has increased a great deal and in the early days around 2013-14, there were only a handful of firms. Now there are more than 20 blockchain analysis companies that monitor addresses, transactions, and making sure addresses are AML/CFT compliant as well.
We have touched an intraday 20% decline in the S&P 500 that many associate with bear market territory. We also hit a bear market on the Dow Jones Industrial Average at Wednesday’s close. Typical metrics for a market bottom do not apply in this very unusual situation spawned by the novel coronavirus pandemic.
Tesla CEO Elon Musk tweeted a week ago that his company’s shares were priced “too high.”
The stock closed 7.78% higher Friday compared to when he tweeted last week.
Shares are up 16.84% from the close of market on the day he tweeted.
The coronavirus pandemic has made us all a lot more familiar with our homes. But it has also thrown up a great number of questions over the future of the property market.
While global markets were thrown into turmoil in the early days of the outbreak, the property market, broadly speaking, has remained resilient. As of April, the median U.S. house price rose 8% year on year to hit $280,600.
