Late on Thursday evening, California – which would be the world’s fifth largest economy if it were a separate country – ordered all 40 million residents into lockdown (essential activities exempt) due to the continued spread of the coronavirus. US cases have now passed 10,000 and New York City mayor Bill de Blasio has made…
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OIL Oil is experiencing a perfect storm in which coronavirus is destroying the demand side, while supply is overwhelmed by the deluge on offer from Saudi Arabia. As a result, the price crashed to an historic low at $20, before attempting a rebound to $23. This scenario will probably not last for long, as for…
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Boeing ‘on the brink’ In the US, the Dow Jones Industrial Average was the hardest hit of the three major indices on Wednesday, closing 6.3% lower, with Chevron, Boeing and Travelers the biggest losers. Boeing fell another 17.9% despite rumblings of a government bailout for airlines and aerospace firms, taking its one month loss close…
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News broke yesterday that President Trump’s administration is seeking a trillion-dollar stimulus package that could include sending Americans $1,000 checks in the coming weeks. Following this, 10-year US Treasury yields climbed back above 1%, having been below half that rate earlier in the month. Treasury Secretary Steven Mnuchin reportedly warned Republican senators that without action…
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Retailers across the globe are shutting down stores to limit the spread of Covid-19. On 11 March the World Health Organization declared the coronavirus outbreak a pandemic and two days later US President Donald Trump declared national emergency. The past week a lot of contradictory events played out. As the seriousness of the spread was…
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ActivTrades’ Market Analysts prepared their daily commentary on traditional markets for March 17, 2020. This is not a trading advice. See details below: GOLD Despite the rebound of European stocks, gold is unable to sustain any solid recovery and is still trading below $1,500. Yesterday we had a first attempt at a recovery, as the…
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Adam Vettese, UK Market Analyst at eToro, has provided his daily commentary on traditional and crypto markets for March 17, 2020. In a reversal of fortune, having posted one of their worst days in history on Monday, US indices were halted by their 5% limit-up circuit breaker as the market bounced overnight. They have since…
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The impact of the corona virus pandemic has hit the media giant, Disney. Its stock has come under pressure as theme parks close and high-profile movies have been delayed to release. Rosenblatt Securities financial analyst Bernie McTernan has stated that this opens an opportunity for Apple to buy Disney. The idea of Apple and Disney…
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The following article was submitted by Michael Stark, market analyst at Exness. Markets are now entering their fourth week of ‘panic mode’ as the coronavirus and measures to tackle its spread seem set to cause a recession around the world this year. This week’s most important regular data is claimant count change from the UK…
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Adam Vettese, UK Market Analyst at eToro, has provided his daily commentary on traditional and crypto markets for March 16, 2020. The Federal Reserve stepped up its response to the coronavirus epidemic last night, cutting the benchmark interest rate to a 0-0.25% range and announcing that it will buy $700bn in US Treasuries and mortgage…
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