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JPMorgan Says Slowing U.S. Virus Cases to Put Floor Under Stocks

A slowdown in the growth rate of new U.S. coronavirus cases may help put a floor under stocks and dampen volatility, according to JPMorgan Chase & Co. The Cboe Volatility Index has been tracking data associated with the global spread of cases and has shown a relationship with growth at the U.S. state level, technical strategists Jason Hunter and Alix […]

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Stock futures rise, as oil tumbles

Market will be driven by coronavirus progression Barron’s roundtable is joined by the head of U.S. equity and quantitative strategy at Bank of America Merrill Lynch Savita Subramanian to talk about how to navigate the markets in the coming weeks. U.S. stock futures posted early gains on Sunday, recovering from last week's losses and brushing off a drop in oil. […]

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Four Citadel Portfolio Managers Leave During Turbulent March

Four equity portfolio managers at Ken Griffin’s Citadel hedge fund left the firm in March, one of the most volatile months for stocks on record. The four managers are Chris Connor, who ran a technology portfolio; Tio Charbaghi and Steve Bergman, who both ran baskets of industrial stocks; and Chip Fortson, who ran a book of financial stocks, according to […]

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Aramco Delays Oil Pricing Amid Saudi-Russia Row on Oil Cuts

In this article Saudi Aramco delayed the release of its key monthly oil pricing list until later this week as the kingdom trades barbs with Russia about the OPEC+ meeting aimed at ending the collapse in oil prices. A new date for the announcement of Aramco’s official selling prices for May is not yet set, and the release could be […]

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Coronavirus forces Delta Air Lines to burn $60M per day as flights are grounded

Lawmakers pressure airlines to refund passengers for coronavirus cancellations Some lawmakers are pressuring airlines to issue cash refunds to customers who have canceled trips due to coronavirus. FOX Business’ Hillary Vaughn with more. Get all the latest news on coronavirus and more delivered daily to your inbox. Sign up here. Continue Reading Below Delta Air Lines is burning through cash and […]

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Trump taps Kavanaugh ally for seat on influential appeals court

WASHINGTON (Reuters) – U.S. President Donald Trump on Friday announced plans to nominate a vocal ally of Supreme Court Justice Brett Kavanaugh to an influential federal appeals court in Washington. Justin Walker, 37, who has served as a federal district court judge in Kentucky since October, would replace Republican appointee Judge Thomas Griffith on the U.S. Court of Appeals for […]

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IMF, WHO urge leaders to focus on health spending to get virus under control

WASHINGTON (Reuters) – The IMF and the World Health Organization on Friday urged leaders of developing countries to prioritize paying medical staff, buying protective gear and other health expenditures in their response to the COVID-19 pandemic. In a joint column in the UK’s Telegraph newspaper, the heads of the two institutions said getting the new coronavirus under control was a […]

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U.S. Payrolls Fall 701,000 in March Ahead of Surge in Layoffs

U.S. employment plummeted last month in the first decline since 2010, offering an initial look at the widespread devastation the coronavirus pandemic has already begun to wreak on the once-strong labor market. Payrolls fell 701,000 from the prior month — compared with the median forecast of economists for a 100,000 decline — according to Labor Department data Friday that mainly […]

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Trump slams 3M over mask production, invokes Defense Production Act

Trump invokes defense production act to speed up ventilator production President Trump says he invoked the Defense Production Act to ensure large companies can produce and donate medical supplies during the coronavirus pandemic. Get all the latest news on coronavirus and more delivered daily to your inbox.  Sign up here. Continue Reading Below President Trump slammed 3M Co in a tweet on Thursday in […]

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Fujifilm says new coronavirus test can produce results in two hours

TOKYO (Reuters) – Fujifilm Holdings Corp said it has developed a new test for the novel coronavirus that reduces the results time to about two hours. The test was developed by subsidiary Fujifilm Wako Pure Chemical Corp and will be released on April 15, the company said in a release on Friday. The SARS-CoV-2 RT-qPCR Detection kit will be able […]

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