The three major Wall Street averages have soared on Wednesday. Dow Jones is nearly 400 points up. Stocks like Facebook and Amazon jumped as well, hitting new all-time records.
The U.S. economy is going through an unprecedented recession and a recovery will take time. However, Federal Reserve Chairman Jerome Powell is optimistic about it. Dow futures are up after his interview.
Jim Cramer says that it’s high time to start buying stocks. He claimed this as there was a broad market selloff in the last trading sessions.
Warren Buffett’s Berkshire Hathaway refrains from any fresh buys during this market correction saying that the market is just not attractive enough to make new investments.
The cryptocurrency market has regained over 100% from the March 12 flash crash leaving the stock markets far behind after they gained 36%. The majority of coins are in the green now.
The Brent price has now crashed to its lowest point in over 20 years, as the oil market continues to depreciate. Just recently, the WTI futures have fallen below zero for the first time in its history.
The price of Bitcoin has fallen under $7,000 in response to the serious crash of WTI oil futures price.
The Dow Jones lost nearly 600 points at the start of the week. This comes as U.S. lawmakers are set to determine further stimulus measures for the economy. President Trump has also recently announced a temporary suspension in immigration.
Researchers from the University of Chicago Medicine have given a potential breakthrough showing fast recovery for 125 COVID-19 patients by using the Remdesivir drug from Gilead Sciences. GILD stock is 10% up.
The luckiest company today is Gilead Sciences. After its announcement about the successful coronavirus treatment the company has found, its stock started growing. Right now, Gilead Sciences (GILD) stock is trading at $82.115, or 7.28% up.
The coronavirus pandemic has given a major blow to the global and U.S. economy with the Manufacturing Index hitting a historic low. The banks have also reported their first-quarter earnings falling by a massive 46%.
The broader markets continue to remain volatile with more COVID-19 cases reported in the U.S. Though the Dow Jones started the week in the red, tech companies, like Tesla, Amazon, Netflix, continue to surge further.
We spoke with Mike Alfred, Co-Founder and CEO of Digital Assets Data, about weekly happenings on the market and the correlation between Bitcoin and gold.
U.S. stocks soared on Thursday to post their best week of gains since 1974, extending a remarkable rally despite evidence of increasing economic strain due to the coronavirus pandemic.
Federal Reserve will spend $2.3 trillion on loans for households, small and medium-sized businesses with up to 10,000 employees and less than $2.5 billion in revenues for 2019.