|
 European stocks slipped and U.S. equity futures pointed to a weaker session on Friday, as investors braced for more bad news on the American job front and coronavirus cases worldwide topped one million. The Stoxx Europe 600 index dropped 0.4%, alongside a similar loss for the German DAX 30 index , while the FTSE 100 index fell 0.7%. After a positive session for Wall Street on Thursday, Dow Jones Industrial Averages futures fell 181 points, or 0.9%, to 21,077. S&P 500 and Nasdaq-100 futures eased around 0.8%. Oil prices pared back some of Thursday's gains that saw West Texas Intermediate crude jump nearly 25% and Brent crude climb 21%. Those contracts were off 1.7% and 0.3% respectively. Oil's rally was sparked by a tweet from President Donald Trump who predicted Saudi Arabia and Russia would agree to significantly cut oil production. Investors are waiting for March nonfarm payrolls data from the U.S., after data Thursday showed a record 6.6 million Americans filed for unemployment claims due to shutdowns from the coronavirus outbreak.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
|
RELATED ARTICLES | | |
|
 Oil prices shed some of their massive gains on Friday taking stocks in Asia lower, as doubts grew over an oil price deal between Saudi Arabia and Russia that U.S. President Donald Trump said he had brokered.
|
RELATED ARTICLES | | |
|
 American manufacturers say it will be months before they meet demand for high-quality masks, part of a broader breakdown in the effort to supply enough protective gear and lifesaving equipment to fight the coronavirus pandemic.
|
|
 (Bloomberg) -- U.S. stock index futures fell, erasing part of Thursday's rally, as global coronavirus infections continued to increase.S&P 500 Index futures expiring in June slid 0.9% as of 9:30 a.m. in London, after gaining 2.8% on Thursday. Contracts dropped 0.9% on the Nasdaq 100 Index and fell 1.1% on the Dow Jones Industrial Average. Global coronavirus infections surpassed 1 million, a milestone reached just four months after the first cases surfaced in China.In Europe, the Stoxx 600 Index was down 0.5%, weighed down by insurers and telecom shares. The euro-area economy is in a slump of unprecedented scale, with IHS Markit saying Friday its monthly measure of services and manufacturing points to an annualized economic contraction of about 10%."Sentiment in the market is still very fearful," said Dan Russo, chief market strategist at Chaikin Analytics. "The longer it takes to flatten the curve, the more prolonged the negative economic impact is likely to be, the longer it takes for businesses to get up and running again. Our base case remains that we are likely to retest the lows from last Monday."The underlying S&P 500 advanced 2.3% on Thursday, climbing for the first time in three days, with Chevron Corp and Exxon Mobil Corp. among the top gainers, after President Donald Trump said Russia and Saudi Arabia would cut production. Oil prices slid back below $25 a barrel after a record surge as doubts crept in about the deal.Consumer discretionary stocks weighed on the benchmark after jobl
|
|
Trump invokes wartime powers act again to deal with coronavirus equipment shortages
|
|
Trump letter attacking Schumer is sent as President says 'this is not the time for politics' CNNSchumer 'appalled' over Trump letter: 'Stop the pettiness' | TheHill The HillCommander of confusion: Trump sows uncertainty and seeks to cast blame in coronavirus crisis The Washington PostTrump Is Politicizing the Pandemic. Governors Can Fight Back. The New York Times
|
|
'The pandemic is like a punch in the mouth': Medicaid faces new challenges amid US coronavirus outbreak USA TODAYTrump hints at using federal programs to provide coverage after Obamacare decision POLITICOOur Health Insurance System Was Not Built for a Plague SlateAmericans Can't Sign Up for Health Insurance During a Global Pandemic, Trump Decides Vanity FairCoronavir
|
|
 (Bloomberg) -- Asian stocks looked poised to open higher following a volatile session in the U.S., with oil producers well supported after President Donald Trump said Russia and Saudi Arabia would cut production.The S&P 500 closed up 2.3% with energy shares the best performers, while consumer discretionary stocks lagged after jobless claims doubled from last week to 6.6 million. Futures in Japan and Australia climbed and U.S. contracts opened little changed in Asia. Treasuries retreated amid a slew of corporate supply. West Texas crude remained around $25 a barrel after surging 22% on Thursday, though the advance was pared as officials from both sides watered down expectations. The dollar pushed higher and yen and euro fell.With the coronavirus now infecting 1 million people and lockdowns for many economies around the world expected to go on for longer, economic data are showing the severity of the impact. Nearly 10 million people in the U.S. have lost their jobs in the past two weeks, more than were lost during the whole 2008-09 recession."We are not going to have the real recovery in the market until what we think is the peak in the amount of infections and deaths," Stephen Dover, head of equities at Franklin Templeton, said on Bloomberg TV. "We are going to continue to have very wide volatility until we can get over this uncertainty."These are the main moves in markets:StocksFutures on the S&P 500 were little changed as of 7:09 a.m. in Tokyo. The gauge ose 2.3% on Thursday.Futures on Japan's Ni
|
|
Oil futures pare record gains as doubts creep in on Trump's Saudi-Russia output deal CNBCOil Deal? - Trump Expects Saudis, Russia Will Cut Oil Production Bloomberg Markets and FinanceUS oil posts biggest jump ever on hopes for output cuts Reuters msnNOWTrump's 10 Million Barrel Tweet Is Performance Art BloombergStocks soar on oil's record gain as Trump expects Russia, Saudi Arabia to cut output Fox Business
|
RELATED ARTICLES | | |
|
Trump doubles down on claim of Saudi, Russian oil cuts MarketWatchOil Deal? - Trump Expects Saudis, Russia Will Cut Oil Production Bloomberg Markets and FinanceStocks soar on oil's record gain as Trump expects Russia, Saudi Arabia to cut output Fox BusinessTrump's 10 Million Barrel Tweet Is Performance Art BloombergUS oil posts biggest jump ever on hopes for output cuts Reuters msnNOW
|
|
 President Donald Trump slammed 3M Co in a tweet late on Thursday after earlier announcing he was invoking the Defense Production Act to get the company to produce face masks. At a White House briefing on the coronavirus pandemic earlier on Thursday, Trump announced he had signed a Defense Production Act order for 3M to produce face masks.
|
|
 The Trump
administration on Thursday looked set to join local officials in
advising Americans to wear masks when venturing out during the
still-exploding coronavirus pandemic, as the U.S. death toll
rose by 1,000 in a single day for the first time.
|
RELATED ARTICLES | | |
|
Private Label