Your essential daily read: our featured Story of the Day highlights the most impactful development across crypto, blockchain, or regulation—curated for urgency, significance, and insight. Don’t miss what moves the market today.
On Monday, the broader markets surged upwards while putting aside the concerns of the rising coronavirus cases. With Monday’s surge, the Dow is now 20% up from its COVID-19 sell-off low of 18,500.
The Australia government has announced its plans to release $80 billion to rescue jobs affected by the coronavirus. This brings the total stimulus package to A$320 billion, as the world confirmed coronavirus cases surpasses 700,000.
Yesterday, it was the second time during the week when Bitcoin performed a deep dive. The short positions must be very profitable as Bitcoin’s volatility makes it bounce back to $6,200. Experts claim the $5,000 level is possible.
Despite the pressure from Washington, Saudi Arabia and Russia failed to come into a common agreement of oil supply cut to stabilize the price. The crude oil price has dipped to its lowest in 17 years. Oil is trading at $23.03 on Monday morning.
IMF chief Kristalina Georgieva said that the global economy is now in a recession due to the impact of COVID-19. “We should not go with small measures now when we know that it is a gigantic crisis,” she said.
The past several weeks have been chaotic everywhere in the world as the coronavirus outbreak threatens economies in both the West and the East. McKinsey explained what new challenges businesses have today.
Well, the jobless figures and the economic outlook seem pretty bleak for the coming few quarters amid coronavirus, here is how the market is reacting to the situation. Is any further damage already priced-in?
The Dow Jones Industrial Average is leading the pack on a bull rally, after gaining 1,300 points as of March 26. Although still below last year’s lows, the 6.38% gain is the biggest 3-day surge ever recorded since 1931
U.S. stock market led by the Dow futures turned positive despite the negative data on jobless claims that shot to historic figures of more than 3 million. The number of jobless claims even surpassed the Great Recession peak of about 695,000.
Bill Gates, Microsoft сo-founder, shared his thoughts about the current state of the healthcare system and ways to fight coronavirus. He explained what measures he would implement if he were the U.S. president.
Dow Jones has seen a path to recovery after the Federal Reserve announced major stimulus measures on Monday. Here’ a look at how this fiscal stimulus might help to overcome the existing economic challenges.
Bitcoin price is heading towards $6,800 levels, as the U.S. stock market awaits $2 trillion help from the government. The American economy is at the free fall, but the quick and efficient measures like the stimulus package and medical care are saving lives and stock markets.
After the FED, Treasury and key persons in the American government made a hefty of clean, effective moves, the stock market looks much better.
India is going on a nationwide quarantine. For at least the next 24 hours all Indians are discouraged to go to the streets. Also, the WHO thinks that the United States can become the next hot spot for coronavirus pandemic.
U.S. Senate leaders and the Trump administration neared an agreement on a massive stimulus bill that could inject $2 trillion into the economy to blunt the impacts of the coronavirus.