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.
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.
Bitcoin price was at about $6,500 yesterday, having the steam for a rise from $5,800. The equity markets are under pressure, while cryptocurrency shows strength.
The FED’s Jerome Powell and Secretary of Treasury Steven Mnuchin announced insane stock buyout. They want to support the economy to deliver relief to small businesses. They implement a zero rate on repo operations to make sure the bank has short-term funding.
On Monday, the Dow Jones corrected another 3% falling 600 odd points and reaching close to 18,500 levels. Another bill passed by the U.S. lawmakers failed to get the Senate clearance. On the other hand, the Federal Reserve has announced a strong stimulus to support the ailing economy.
The fiscal stimulus bill presented by the Trump government failed to receive a key Senate vote and was halted from passing. The Democrats said that the bill did little to help out workers and more to bail out companies.
Bitcoin price experienced a slight fall under $6,000, despite the fact that people started to look more into what is going on in the sphere. The peak of searches comes on the 13 March, when BTC had one of the scariest falls in the last months.
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.
JPMorgan’s chief U.S. equity strategist thinks that the S&P 500 could return to record highs by early next year if the U.S. policy of efficiently containing the coronavirus outbreak works and the government rapidly moves forward with fiscal stimulus.
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.
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.
Since the day’s beginning, Bitcoin price gained slowly, setting the 35% record on a weekly scale. On March 19, Bitcoin gains more than 10%, setting a positive trend for the market.
The Dow Jones slumped over 1,300 points while the S&P 500 index shed almost 5% as of Wednesday, as the fears of the coronavirus effect grip most investors even more.
The number of coronavirus cases has reached a new sad record of 200,000. The markets react negatively. Dow Jones is falling.