Another Fed stimulus package is expected as the U.S. authorities are trying to push the economy forward. Global financial markets are rising in response.
Tesla (TSLA) stock jumped over 2% in the pre-market to trade at around $1,000. The company announced that the price of its Model S Long Range Plus will be reduced by $5,000.
As part of its measure to cushion the effects of the coronavirus economic saga, the Federal Reserve will be investing about $750 billion in Individual Corporate Bonds. It will help provide adequate liquidity for government expenditure while boosting the credit system.
Epic Games, the studio behind “Fortnite,” is close to landing $750 million in new funding that would value the company at $17 billion. New investors T. Rowe Price Group and Baillie Gifford as well as existing investor KKR will join the round.
Expanding its earlier decision to buy corporate bonds from the primary market, the Fed announced that it will also buy individual corporate bonds from the secondary markets, with a maturity period of five years or less. Dow Jones reacted with a growth.
In a bid to fight off foreign interference, Germany is set to invest in CureVac, a biopharmaceutical firm that is working on the development of a coronavirus vaccine. The deal is worth 300 million Euros
To sell the shares, Hertz has entered into an Open Market Sale Agreement, or sales agreement, with Jefferies LLC. In the pre-market today, Hertz (HTZ) stock is 9.52% up, $2.07 per share.
People’s Bank of China gave American Express the green light to start operating a card-clearing network that will process transactions in yuan. Today the price of AXP stock is growing.
Let’s take a look at both Visa and Mastercard to see how they’re doing amid the coronavirus pandemic. Today both V and MA stocks are in red.
Moderna (MRNA) is up today. The rise may be attributed to news that the company’s coronavirus vaccine has passed a safety test on animals. Moreover, Israel is in talks with the company to buy its vaccine.
The U.S.-based publicly traded companies show superior progress in moving to a record $2 trillion market cap. Of these, more expectations are on Amazon.
AMD is gradually winning a bigger share in the market. Meanwhile, its stock price is slightly down.
Tesla Model Y is expanding into new markets. Meanwhile, the price of Tesla (TSLA) stock is falling. However, it is still over $900.
In the March-May quarter, H&M’s net sales dropped 50% from a year earlier to 28.7 billion crowns ($3.1 billion). But its online sales have increased by 36% in the period. The company’s stock price is down.
BP stock price has lost some steam after the company put out a lowered outlook on Brent crude futures for the next 30 years.