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.
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.
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.
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.
Trump said Thursday afternoon he would hold the news conference, knocking stocks down from solid gains. That announcement came after China approved a national security bill for Hong Kong that experts warn could endanger the city’s “one party, two systems” principle. That principle allows for additional freedoms that mainland China residents don’t have.
Amazon, Microsoft and Google are among a number of American firms that are providing various web services to blacklisted Chinese surveillance firms, a new report claims.
In October, some of China’s most valuable surveillance artificial intelligence firms were put on a U.S. blacklist and were accused of being “implicated” in human rights abuses.
Top10VPN said in a report that these U.S. giants were providing “essential web services that power these companies’ websites.”
Kadena CEO Will Martino had already been considering abandoning his blockchain development company’s Brooklyn headquarters before coronavirus came to New York City. The fast-spreading virus, however, recently convinced him the office had to go. On Feb. 21, he told his team to begin working from home.
Most of the money will be interest-free, and countries do not need to have a preexisting program with the IMF to participate, Kristalina Georgieva said.
“We’re in an early stage of engagement, but I can assure you that we will act very quickly as requests come,” Georgieva said.
There are more than 90,000 confirmed cases of the coronavirus around the world, and the outbreak has spread to six continents.
Impossible Foods and Beyond Meat are both growing quickly in the alternative protein market for health and sustainability reasons.
One difference is Impossible’s use of GMO technology for the key ingredient heme, a molecule that makes the Impossible Burger “bleed.”
Several major manufacturers are now developing electric vehicle offerings.
Worldwide electric car sales hit 1.98 million in 2018, according to the IEA, with global stock reaching 5.12 million.
