The S&P 500 and Dow Jones have slipped, giving up early gains as concerns about dismal first-quarter earnings and lasting economic damage from the coronavirus pandemic offset better-than-expected weekly jobless claims numbers. A 4.7 per cent fall for Boeing drove the blue-chip Dow Jones Industrials down more than one per […]
virus
JPMorgan 1Q profit plunges due to virus
JPMorgan Chase says that first-quarter profit plunged by 69 per cent from a year ago, as the bank set aside billions of dollars to cover potential losses tied to the coronavirus pandemic. Chase, the nation’s largest bank by assets, is among the first of the nation’s big companies to report […]
Global virus cases near two million
The number of confirmed coronavirus cases around the world is hovering around 2 million, but the lack of fresh hot spots has yielded a ray of optimism. The brunt of the disease has been felt most heavily in New York, Italy, France, Spain and the United Kingdom, but grim projections […]
Afterpay still growing amid virus crisis
Afterpay says it is still seeing strong growth amid the coronavirus crisis and has no need to raise more money in the foreseeable future. With $541.1 million in cash on hand and $719.2 million in total liquidity as of March 31, the buy now, pay later giant says “downside scenario […]
GFC reforms will help in virus crisis: RBA
The COVID-19 pandemic is putting a major strain on the global financial system but reforms put in place after the 2008 global financial crisis are helping banks weather the storm, the Reserve Bank of Australia says. Banks have more capital, less liquidity and less complex business structures than before the […]
Auction clearance rates dive amid virus
Clearance rates at Australian auctions have dived following the social constraints and uncertainty caused by the coronavirus pandemic, according to a major property data provider. Corelogic’s latest auction market review shows the clearance rate across combined capital cities was 62.5 per cent from 18,902 auctions in the three months to […]
Global stocks dip as virus death toll up
World stocks have turned negative as the coronavirus death toll mounted and euro zone finance ministers failed to agree a rescue package to help economies recover from the impact of the outbreak. COVID-19 hospitalisations seemed to be levelling off in New York state, but deaths across the United States jumped […]
Gold drops on hopes of a virus slowdown
Gold prices have fallen over 1.0 per cent, retreating from a near one-month high hit earlier in the session, as signs of slowdown in coronavirus cases in major epicenters boosted equity markets, drawing away some of the bullion’s safe-haven appeal. Spot gold fell 1.0 per cent to $US1,644.51 an ounce […]
Wall St gains on signs of virus slowdown
Wall Street has risen as early signs of a slowdown in coronavirus cases in US hot spots raised hopes that sweeping lockdown measures to contain the outbreak were working. The S&P 500 was set for its biggest two-day gain in nearly two weeks on Tuesday, building on a 7.0 per […]
Virus hopes propel stocks, euro higher
World stock markets are enjoying a second day of sharp gains on Tuesday as signs of progress against the coronavirus in both Europe and the United States and more liberal helpings of stimulus kept investors charging back in. There was an added boost from commodity markets as oil climbed nearly […]