S&P futures hit upper trading limit after another brutal session
S&P 500 futures hit their daily upper trading limit on Tuesday, rebounding from another brutal session caused by investor panic over the rapidly spreading coronavirus.
S&P 500 futures hit their daily upper trading limit on Tuesday, rebounding from another brutal session caused by investor panic over the rapidly spreading coronavirus.
Global equities rebounded almost 2% on Tuesday, off near four-year lows, and the dollar slipped as investors pinned hopes on unprecedented stimulus steps by the U.S Federal Reserve and other policymakers to ease strains in financial markets.
The meltdown in financial markets over the coronavirus has sparked a huge jump in foreign exchange trading volumes, with average daily turnover so far in March up 27% on February as volatility soared, CLS said on Tuesday.
Wizz Air has suspended all flights to and from Bulgarian city of Varna in an attempt to help curb the spread of the coronavirus, the low-cost carrier said in a statement on Tuesday.
German sportswear company Puma announced on Tuesday that 1,400 staff would switch to shorter work hours until April 13 as sales slump due to the coronavirus and said its three top executives would not take their pay for April.
Ford Motor Co said on Tuesday it was working with General Electric's healthcare unit and 3M Co to speed up production of ventilators for patients and respirators for healthcare workers during the coronavirus outbreak.
Italian-U.S. car giant Fiat Chrysler has confirmed plans to produce a million face masks a month and said it will distribute them to emergency services in North America to help the fight against coronavirus.
Refiner Phillips 66 on Tuesday cut its 2020 spending forecast by about 18% and assured investors their dividend was secure even as the coronavirus outbreak and a price war between Saudi Arabia and Russia threaten the oil market with massive oversupply.
Chevron Corp will slash capital spending by $4 billion this year and suspend share buybacks, the latest oil company to cut costs in the face of an unprecedented slide in oil prices.
Consumer goods giant Unilever Plc said on Tuesday it would shield its workforce for up to three months from sudden drop in pay, resulting from market disruptions or an inability to perform their roles during the coronavirus pandemic.
British manufacturers are the most pessimistic about the outlook than they have been at any time since the global financial crisis more than a decade ago because of the spread of coronavirus, a survey showed on Tuesday.
As several more U.S. states moved to impose stay-at-home orders to limit the spread of the coronavirus, industries from steelmakers to auto dealerships were scrambling for exemptions that would allow them to remain open.
A price war between the world's oil powerhouses is leaving many producers in Latin American struggling to cover production costs, boosting the chances of output cuts and investment delays in the coming months.
Wild swings in asset prices have thrown a spotlight on liquidity in corners of the $4.4 trillion market for U.S. exchange-traded funds, which have played a key role for investors in Wall Street's coronavirus-fueled selloff.
BCG Henderson Institute | Martin Reeves, Lars Faeste, Kevin Whitaker, and Mark Abraham | March 15, 2020 A rebound of demand is inevitable, and using high-frequency data proxies for the movement of goods and people, production and confidence, we can see that it is already beginning to happen in China. (See Exhibit 2.) Given the