U.S. President Donald Trump on Tuesday said he wants the U.S. economy to reopen by Easter Sunday, April 12, despite the rapid spread of the novel coronavirus in some U.S. states and a rising death toll from the disease.
By Gertrude Chavez-Dreyfuss, Kate Duguid and Abhinav Ramnarayan
Nike Inc beat estimates for quarterly revenue on Tuesday as strong digital demand offset the first China sales drop in nearly six years from the coronavirus-fueled shutdowns, but the company held back from providing a forecast due to the outbreak.
Two more New York Stock Exchange floor traders tested positive for the coronavirus on Tuesday despite strict measures taken to prevent people infected by the virus from entering the exchange while it remained open last week, according to a memo seen by Reuters.
"We think stocks are really cheap if you believe ... that the economy is going to eventually recover, as will the P/E multiples," value investor Bill Nygren told CNBC.
The German elevator-to-car parts conglomerate Thyssenkrupp will cut 3,000 jobs at its steel unit by 2026 as part of a wage deal it struck with powerful labor union IG Metall, it said on Wednesday.
Asian shares extended their rally on Wednesday in the wake of Wall Street's big gains as U.S. Congress appeared closer to passing a $2 trillion stimulus package to curb the coronavirus pandemic's economic toll.
At least two more New York Stock Exchange floor traders tested positive for the coronavirus on Tuesday despite measures taken to prevent people infected by the virus from entering the exchange while it remained physically open last week, according to a memo seen by Reuters.
Boeing Co plans to restart 737 MAX production by May, ending a months-long halt triggered by a safety ban on its best-selling jet after fatal crashes, people familiar with the matter said on Tuesday.
Qantas Airways Ltd on Wednesday secured A$1.05 billion ($627.8 million) against its aircraft fleet to help it ride out the coronavirus crisis, sending shares up 30%, as airlines in the Asia-Pacific region sliced away capacity and jobs.
Oil prices extended gains for a third session on Wednesday, rising alongside broader financial markets on hopes Washington will soon approve a massive aid package to stem the economic impact of the coronavirus pandemic.
Detroit's Big Three automakers plan to extend a current shutdown of vehicle production in North America into April as the coronavirus pandemic continues, people briefed on the matter said Tuesday.
Asian shares extended their rally on Wednesday in the wake of Wall Street's massive rebound as the U.S. Congress appeared closer to passing a $2 trillion stimulus package to mitigate the economic blow from the coronavirus pandemic.
The Mexican government said on Monday that local residents voted by about 76% to reject the completion of a more than $1 billion brewery under construction by Constellation Brands Inc , a development likely to further shake investor confidence.
The U.S. Senate on Monday was negotiating a nearly $2 trillion emergency bill that aims to stem some of the economic toll of the coronavirus pandemic.