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POPULAR NEWS
Gold futures end lower for the session, but tally a 5th straight weekly gain

Gold futures ended lower on Friday, pulling back in the wake of the nearly nine-year high they reached earlier this week. Prices for the week, however, gained roughly 0.7%, as the spread of COVID-19 continued to raise the metal's appeal as a safe-haven investment. August gold fell $1.90, or 0.1%, to settle at $1,801.90 an ounce. Prices on Wednesday had settled at $1,820.60, the highest for a most-active contract since Sept. 14, 2011, according to FactSet data. Source: Marketwatch

Oil climbs, but U.S. benchmark ends lower for the week as IEA warns of coronavirus risk

Oil futures climbed on Friday, buoyed by positive results tied to a COVID-19 treatment, but U.S. prices ended lower for the week as a report from the International Energy Agency cautioned that weaker demand caused by the coronavirus pandemic will linger, even if the worst of the hit to economies has subsided. August West Texas Intermediate crude rose 93 cents, or about 2.4%, to settle at $40.55 a barrel on the New York Mercantile Exchange, after sliding 3.1% on Thursday to hit the lowest...

Hong Kong Stocks End With Deep Losses (Review)

Hong Kong stocks closed sharply lower Friday, in line with an Asia-wide sell-off, with investors also spooked by fresh infections in the city that have led to the reimposition of containment measures including school closures. The Hang Seng Index shed 1.84 percent, or 482.75 points, to 25,727.41. The benchmark Shanghai Composite Index fell 1.95 percent, or 67.27 points, to 3,383.32 while the Shenzhen Composite Index on China's second exchange lost 0.31 percent, or 6.95 points, to...

Dow rises 200 points on positive coronavirus treatment news, airlines

Stocks rose in choppy trading Friday as traders digested news about a potential coronavirus treatment as well as another record spike in virus cases. The Dow Jones Industrial Average traded 200 points higher, or 0.8%. The S&P 500 climbed 0.4%. The Nasdaq Composite lagged, trading just below the flatline. Gilead Sciences said its coronavirus treatment candidate, remdesivir, œwas associated with an improvement in clinical recovery and a 62 percent reduction in the risk of mortality...

Dow ends nearly 370 points higher as Nasdaq logs another record close

Stocks ended higher in thin trade Friday, getting a lift from positive news on a coronavirus treatment. The Dow Jones Industrial Average rose around 369 points, or 1.4%, to end near 26,075, according to preliminary figures, while the S&P 500 advanced around 33 points, or 1%, to end near 3,185. The tech heavy Nasdaq Composite rose nearly 70 points, or 0.7%, to end near 10,617, marking its third consecutive record close. Stocks shed premarket weakness after drug maker Gilead Sciences Inc....

Powell says more policy help may be needed to pull the US out of economic downturn
Wednesday, 13 May 2020 21:03 WIB | FISCAL & MONETARY |Fiskal & Moneter

Federal Reserve Chairman Jerome Powell said Wednesday that policymakers may have to use additional weapons to pull the country out of an economic mire that has cost at least 20 million jobs and caused œa level of pain that is hard to capture in words.

While he did not specify what those measures are and where they would come from, Powell said the coronavirus has triggered a situation unlike previous recessions the U.S. has endured, and the response may have to be more from Congress than the Fed.

He noted the unprecedented strength of the fiscal and monetary measures already taken but stressed the importance of making sure that the deepest slump since the Great Depression does not get out of control. The Fed has cut its benchmark rate to near zero and instituted multiple lending and liquidity programs, while Congress has appropriated close to $3 trillion in rescue funding.

œWhile the economic response has been both timely and appropriately large, it may not be the final chapter, given that the path ahead is both highly uncertain and subject to significant downside risks, Powell said in prepared remarks for a webcast event with the Peterson Institute for International Economics.

The central bank chief spoke days after the Labor Department reported that nonfarm payrolls fell by 20.5 million in April and the unemployment rate shot up to 14.7%, both the worst since the Depression by large margins. The department noted that it probably missed millions more due to issues with gathering the data.

At the same time, GDP is expected to plunge by record levels in the second quarter, with expectations dimming for a strong recovery as the coronavirus-induced lockdown of the national economy drags on.

Source: CNBC

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POPULAR NEWS
Gold futures end lower for the session, but tally a 5th straight weekly gain

Gold futures ended lower on Friday, pulling back in the wake of the nearly nine-year high they reached earlier this week. Prices for the week, however, gained roughly 0.7%, as the spread of COVID-19 continued to raise the metal's appeal as a safe-haven investment. August gold fell $1.90, or 0.1%, to settle at $1,801.90 an ounce. Prices on Wednesday had settled at $1,820.60, the highest for a most-active contract since Sept. 14, 2011, according to FactSet data. Source: Marketwatch

Oil climbs, but U.S. benchmark ends lower for the week as IEA warns of coronavirus risk

Oil futures climbed on Friday, buoyed by positive results tied to a COVID-19 treatment, but U.S. prices ended lower for the week as a report from the International Energy Agency cautioned that weaker demand caused by the coronavirus pandemic will linger, even if the worst of the hit to economies has subsided. August West Texas Intermediate crude rose 93 cents, or about 2.4%, to settle at $40.55 a barrel on the New York Mercantile Exchange, after sliding 3.1% on Thursday to hit the lowest...

Hong Kong Stocks End With Deep Losses (Review)

Hong Kong stocks closed sharply lower Friday, in line with an Asia-wide sell-off, with investors also spooked by fresh infections in the city that have led to the reimposition of containment measures including school closures. The Hang Seng Index shed 1.84 percent, or 482.75 points, to 25,727.41. The benchmark Shanghai Composite Index fell 1.95 percent, or 67.27 points, to 3,383.32 while the Shenzhen Composite Index on China's second exchange lost 0.31 percent, or 6.95 points, to...

Dow rises 200 points on positive coronavirus treatment news, airlines

Stocks rose in choppy trading Friday as traders digested news about a potential coronavirus treatment as well as another record spike in virus cases. The Dow Jones Industrial Average traded 200 points higher, or 0.8%. The S&P 500 climbed 0.4%. The Nasdaq Composite lagged, trading just below the flatline. Gilead Sciences said its coronavirus treatment candidate, remdesivir, œwas associated with an improvement in clinical recovery and a 62 percent reduction in the risk of mortality...

Dow ends nearly 370 points higher as Nasdaq logs another record close

Stocks ended higher in thin trade Friday, getting a lift from positive news on a coronavirus treatment. The Dow Jones Industrial Average rose around 369 points, or 1.4%, to end near 26,075, according to preliminary figures, while the S&P 500 advanced around 33 points, or 1%, to end near 3,185. The tech heavy Nasdaq Composite rose nearly 70 points, or 0.7%, to end near 10,617, marking its third consecutive record close. Stocks shed premarket weakness after drug maker Gilead Sciences Inc....

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