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The market’s comeback from coronavirus lows caused two Wall Street greats to change their minds

6 years ago

Wall Street’s top traders say a combination of unprecedented monetary and fiscal stimulus appears to have pacified the market.
Stanley Druckenmiller and Paul Tudor Jones both said this week that the S&P 500′s robust rally since March has humbled them.
An unparalleled response from the Fed and Congress has provided businesses with one of the most powerful safety nets ever, says strategist Quincy Krosby.

A ‘financial war’ with China could be brewing on top of the trade war

6 years ago

U.S. regulators have long sought more transparency from Chinese companies with shares trading on U.S. exchanges, but Beijing has resisted.
More than a decade ago, hundreds of Chinese companies went public in the U.S. via reverse mergers, merging into public but mostly dormant U.S. companies, and many turned out to be frauds.
Efforts to solve the problem are getting more traction due to the escalation of trade disputes with China.

WHO warns coronavirus pandemic is speeding up as countries ease lockdown rules: ‘The worst is yet to come’

6 years ago

“Although many countries have made some progress, globally, the pandemic is actually speeding up,” WHO chief Tedros Adhanom Ghebreyesus said during a virtual news conference.
The virus has infected more than 10.1 million people around the world and killed at least 502,634 people, according to data compiled by Johns Hopkins University.
“The single most important intervention is … tracing and quarantine contacts,” he said. “Six months since the virus started, it could be like a broken record to say exactly the same thing, but the same thing works. Test, test, isolate, quarantine cases.”

Fauci warns of ‘more and more’ coronavirus complications in young people

6 years ago

Dr. Anthony Fauci, the nation’s leading infectious disease expert, said that doctors and infectious disease specialists are seeing “more and more” complications with Covid-19 in young people.
Early in the outbreak in the U.S., researchers said the virus appeared to be sparing young people while being particularly severe for the elderly and those with underlying health conditions.
That’s not the case, Fauci said Tuesday.

iPhone sales in China drop in May after recent rebound — but Apple shows signs of resilience

6 years ago

Apple iPhone sales and shipments fell in May versus April, according to third-party data compiled by CNBC.
But other areas of the business such as spending on the company’s App Store grew, which may point to some resiliency for the U.S. technology giant in one of its biggest markets.
Apple was affected by the shutdown in China during the height of the coronavirus pandemic in the country, but it has seen a sharp rebound as the the economy has re-opened.

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