Stocks give up meager gains as virus anxiety prevails
Asian shares and Wall Street futures fell on Wednesday in the first trading session of the quarter as the coronavirus pandemic and the prospect of a global recession tore through investor confidence.
Asia’s factory activity plunges as coronavirus shock deepens
Factory activity contracted sharply across most of Asia in March as the coronavirus pandemic paralyzed economic activity across the globe, with sharp falls in export power-houses Japan and South Korea overshadowing a modest improvement in China.
Apple doubles China donations for COVID-19 recovery efforts
Apple more than doubled its donation to China’s efforts to fight COVID-19 to over 50 million yuan ($7 million), CEO Tim Cook posted on Weibo on Wednesday, weeks after the iPhone maker said it had opened all its 42 stores in one of its largest markets.
Exclusive: U.S. aims to lease space in emergency oil stockpile, after buying plan canceled – sources
The Trump administration plans to lease out space for energy companies to store oil in the nation’s Strategic Petroleum Reserve, after a previous effort to buy millions of barrels for the emergency stockpile was canceled over a lack of funding, accordi…
Bond investor Jeffrey Gundlach bets stocks March lows to be surpassed in April
Bond investor and DoubleLine Capital Chief Executive Jeffrey Gundlach said on Tuesday he believes the coronavirus sell-off is not over yet and that the lows stocks hit in March will be surpassed in April due to uncertainty over the outbreak.
Stocks under pressure after biggest quarterly drop since 2008
Asian shares faced another leg lower on Wednesday as the coronavirus sharply slows global growth, leading a gauge of world stocks to post its biggest quarterly decline in more than a decade and oil prices to trade near lows last seen in 2002.
Exclusive: U.S. plans to lease space to energy companies to store oil in emergency reserve
The U.S. Department of Energy plans to announce as soon as Wednesday it will allow oil companies to lease space in the emergency oil reserve, as it seeks to comply with President Donald Trump’s directive to fill the facility to capacity, two industry s…
U.S. pension funds may pour $400 billion into stocks, lifting virus-hit markets: JP Morgan
U.S. pension funds that delayed rebalancing their portfolios are likely to pump about $400 billion into stocks over the next two quarters, analysts at JP Morgan said, providing a potential boost to equity markets battered by the coronavirus pandemic.
Trump says he may join Saudi, Russia in talks on oil prices
U.S. President Donald Trump said on Tuesday he would join Saudi Arabia and Russia, if need be, for talks about the sharp fall in oil prices resulting from a price war between the two countries.
U.S.-Saudi oil alliance idea born at White House, put on back burner for now
Top U.S. officials have for now put aside a proposal for an alliance with Saudi Arabia to manage the global oil market, according to three sources with knowledge of the matter, an idea one of them said came from White House national security advisers.
