Alibaba and Tencent stocks indicate resilience amid the coronavirus stock market effect. China, the first country to be hit by the deadly coronavirus in early December, now aims to be a stabilizing force in the global market.
In 2019, MoneyGram has received $11.3 million worth of XRP, $8.9 million in the fourth quarter only. In 2020, this number seems to be increased.
Merkel’s quarantine does not mean she will stop her official business, as the leader will continue working from home. She will also have regular COVID-19 tests in the coming days.
Amazon (AMZN) stock looks rather attractive for investors these days. The main reason for this is the tenacity that it has shown in the fight with the coronavirus effect on the market.
Bitcoin price is down 12.5%, S&P 500, Nasdaq indexes as well as companies like Berkhire Hathway has also lost significantly since the beginning of the year. Oil war adds fire to the financial crash party.
As the search for COVID-19 vaccines intensifies, there are at least 20 coronavirus vaccines in the pipeline. However, Gilead Sciences (GILD) and Moderna (MRNA), the stocks of the leaders in the race, tumbled as the week came to the end.
United Airlines (UAL) stock is said to have good chances to rise after the COVID-19 situation is over. Today it is fully in the green.
While Tesla (TSLA) stock has corrected 60% in just over a month’s time, its valuations look to be attractive. With strong fundamentals in place, the stock could be a potential buy for the long term.
Michael Walkley from Canaccord Genuity lowers his Apple (AAPL) stock price target from $345 to $300. Also, he is reiterating the buy rating. Per Walkley, people dive in calculations regarding how coronavirus will impact the mobile phone market.
The S&P 500 closed Thursday nearly 27% below its February high, meaning it took just a matter of weeks for a bear market to roll around. Microsoft fell as well. This month, MSFT is lower by 24%. But yesterday, it started gaining again.
Top-five tech companies (Amazon, Apple, Alphabet, Microsoft and Facebook) have corrected anywhere between 25-30% over the last month’s global market crash. These companies have entered an official bear market after leading the 11-year bull market after the 2008 financial crisis.
Amazon’s business appears to be thriving these days. At the same time, hovering around $1,800 per share, Amazon (AMZN) stock is down about 17% from its recent high.
Dow Jones futures and S&P 500 futures have changed little this morning, while Nasdaq futures rose modestly after California issued a “stay-at-home” order to slow the Covid-19 spread.
More than 245,000 people have now been confirmed with the coronavirus globally, of which at least 85,000 have recovered from COVID-19, while more than 10,000 have died. Bank of America has already stated that the recession is here.
Let’s have a closer look at Gilead Sciences Inc (NASDAQ: GILD) and Moderna Inc (NASDAQ: MRNA) stocks as the companies are working on possible coronavirus vaccine.