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US coronavirus deaths hit 100,000; Lockdowns eased: Live updates Al Jazeera EnglishView Full Coverage on Google News
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China approves controversial national security law for Hong Kong CNNHong Kong Reaching a Turning Point, Basic Law Committee Member Says Bloomberg PoliticsHong Kong could see a 'gradual erosion' as a financial hub over the next five years: Analyst CNBCWill President Trump Stand With Hong Kong? The New York TimesIn the midst of a cri
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 (Bloomberg) -- It was anything but an ordinary afternoon for Hong Kong stocks as Chinese lawmakers approved a controversial plan to impose national security legislation for the city.The Hang Seng Index plunged as much as 2.2% before erasing all its losses. A rally for Chinese companies spurred speculation that mainland-based funds were behind the gains. The gauge closed 0.7% lower.There was also speculation of intervention in the currency market, with the offshore yuan strengthening just as traders said they saw some state-run banks selling dollars. Premier Li Keqiang opened a press conference at around 4 p.m. after The National People's Congress approved the draft decision by a vote of 2,878-1 at its annual session in Beijing."There are signs that mainland funds are buying into big-cap Chinese firms in Hong Kong, such as financial stocks and telecom, to support the index," said Steven Leung, executive director at Uob Kay Hian (Hong Kong) Ltd.The Trump administration on Wednesday took the significant step of saying it could no longer certify Hong Kong's autonomy from China, which was promised before the British handed the city back in 1997. The move could trigger a range of actions by the Trump administration, from sanctions on Chinese officials to revoking the city's special trading status with the U.S.The Hang Seng Index recouped almost all of its 2.2% loss in the first 90 minutes of the afternoon session, with Chinese firms including state-owned China Construction Bank Corp. and Industrial and Commercial B
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CDC Undercuts Utility Of Antibody Tests As Key COVID-19 Tool | Rachel Maddow | MSNBC MSNBCCDC advises on steps to take if you've tested positive for coronavirus or have COVID-19 symptoms Yahoo LifestyleDon't waste coronavirus tests on those already showing symptoms. There's a smarter way. USA TODAYInfectious disease doctor, state epidemiologist, CDC cast doubt on accuracy of COVID-19 antibody tests fox13now.com
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 (Bloomberg) -- Nasdaq 100 Index futures fell on a report Donald Trump is preparing to sign an executive order that could threaten to penalize Facebook Inc., Google and Twitter Inc. for the way they moderate content on their sites.Contracts for June delivery on the Nasdaq 100 fell as much as 0.8%, before paring losses to 0.4% as of 9:32 a.m. in London. Trump's upcoming executive order aims for federal regulators to review a law that spares tech companies from liability for comments and content posted by users, the Washington Post reported. Investor sentiment was also damped by deteriorating U.S.-China ties."U.S. tech stocks are dropping on profit taking and risk aversion, as they are at the forefront of the U.S.-China cold war," said Nader Naeimi, the head of dynamic markets at AMP Capital Investors Ltd. in Sydney. In addition, there is news that "Trump is preparing to sign an executive order that could threaten to penalize Facebook, Google and Twitter."Trump is poised to take action Thursday that could bring a flurry of lawsuits down on Twitter, Facebook and other technology giants by having the government narrow liability protections that they enjoy for third parties' posts, according to a draft of an executive order obtained by Bloomberg.While Nasdaq 100 futures declined, contracts on other indexes were mixed. Futures on the S&P 500 were little changed and those on Dow Jones Industrial Average advanced 0.4%. The underlying S&P 500 climbed to the highest since early March on Wednesday, holding above 3,
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The latest on stock market and business news during the coronavirus outbreak.
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ARCE earnings call for the period ending March 31, 2020.
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 European stocks advanced Thursday for a fourth straight session, on building enthusiasm over the reopenings of economies across the world.
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 * Rigorous testing helped country contain initial outbreak
(Updates with new numbers, KCDC and Coupang comment, city
announcement in paragraphs 2-4, 8 and 11)
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The law is aimed at prohibiting secession, subversion of state power, terrorism activities and foreign interference.
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 (Bloomberg Opinion) -- Don't fight the U.S. Federal Reserve — repeat that mantra until it sticks.Jamie Dimon, the boss of JPMorgan Chase & Co., put it well this week. "This wasn't the bazooka," he said, referring to Jay Powell's response to the coronavirus crisis. "The Fed took out the whole military and applied it. Just announcing these programs reduced spreads (the difference between corporate bond yields and their benchmarks) in the market. It's going to save a lot of small businesses." In the past month, the equity market's glass has gone from pretty much empty to at least half full and that's down to the coordinated fiscal and monetary effort from authorities far and wide. You want some quantitative easing? Please, have some more and take some for the journey home. Even those foot draggers at the European Union are talking about radical fiscal action. We won't really see a V-shaped economic recovery, but it seems seem like we've stopped the L.Nonetheless, this is a recovery based so far on asset-price inflation rather than any economic data. Central bank and government action may have restored financial valuations but real incomes will still suffer dramatically for a long while to come. Unemployment and diminished consumption cannot be magicked away.The stock market is looking even further into the distance than usual to justify its valuations, which is sometimes hard to square away against a constant stream of dire economic statistics and evaporating company earnings. Since QE came to life during the global financial crisis,
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 Nissan Motor Co unveiled a plan to become a smaller, more cost-efficient automaker on Thursday as it looks to recover from four years of tumbling profits that culminated in its first annual loss in 11 years.
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Trump expected to sign executive order that could threaten punishment against Facebook, Google and Twitter over allegations of political bias The Washington PostTrump to sign executive order on social media amid Twitter furor POLITICOZuckerberg knocks Twitter for fact-checking Trump, says private companies shouldn't be 'the arbiter of truth' Fox NewsShining sunlight on
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HPQ earnings call for the period ending April 30, 2020.
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US-China tensions still threaten to derail the stock market rally
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Safran shares rose on Thursday after Boeing said it would restart production of its 737 MAX jet and announced further cost-cutting measures.
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Oil prices plunged on Thursday after U.S. industry data showed a surprise steep build in crude oil inventories, dampening hopes of a smooth recovery in demand as some countries begin to ease their way out of coronavirus lockdowns.
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US renewable groups' shares rise amid coronavirus crisis as oil leads wider market lower
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Shares rose in Tokyo and Sydney, but fell in China and Hong Kong, where tensions are flaring over Beijing's effort to exert more control over the former British colony.
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 U.S. stocks will end this year around current levels as the coronavirus pandemic cripples the economy and eats into earnings, according to strategists polled by Reuters. The market has been on a tear in recent weeks, and stocks are up sharply from the March low of their coronavirus-fueled tumble, but the benchmark S&P 500 stock index is still down since the start of the year. The S&P 500 will end 2020 at 2,950, according to the median forecast of nearly 50 market strategists and fund managers polled by Reuters in the past two weeks.
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Executives are willing to accept contentious legislation in exchange for halt to unrest
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European shares rose for the fourth
straight session on Thursday, as optimism over businesses
returning to work and a massive stimulus plan for the European
Union outweighed concerns over rising U.S.-China tensions.
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 Boeing Co (BA) announced that it is laying off another 6,770 employees in the U.S. as the U.S. planemaker is cutting costs to cope with the impact that the coronavirus pandemic is having on the aviation industry.Boeing said it is taking these streamlining measures as travel restrictions tied to the coronavirus pandemic have resulted in a deep cut in the number of commercial jets and services its customers need over the next few years. Earlier this month, the planemaker reported that it did not receive a single order in April, while it was also grappling with 108 order cancelations for its grounded 737 MAX plane.In response to the aviation crisis, Boeing announced in April that it would slash 10% of its global workforce of 160,000 by the end of this year.In a separate statement, the ailing planemaker said it has restarted 737 MAX production at its factory in Renton, Washington, albeit at a low rate and is planning to gradually ramp up production this year. Temporary suspension of production had begun in January after the company grounded the 737 MAX jet last year following a second crash."We are seeing some green shoots. Some of our customers are reporting that reservations are outpacing cancellations on their flights for the first time since the pandemic started," Boeing President and CEO Dave Calhoun wrote in a letter to employees. "Some countries and U.S. states are starting cautiously to open their economies again. And some parts of our business, most notably on the defense side, will continue hiring to meet custome
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American Airlines says to cut management and support staff by 30% Fox BusinessAmerican Airlines CEO quells U.S. bankruptcy talk, says demand improving ReutersAmerican Airlines plans 30% reduction of management, administrative staff CNBCAmerican Airlines reportedly plans 30% reduction of management, administrative staff ForexLive
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 Oil prices slid for a second consecutive session on Thursday as U.S. industry data showed a steep and surprising build-up in crude stockpiles, dampening hopes of a smooth demand recovery as the world begins to ease its way out of coronavirus lockdowns. The decline extended losses from Wednesday on uncertainty about Russia's commitment to deep oil production cuts in the lead-up to a June 9 meeting of the Organization of the Petroleum Exporting Countries and its allies, dubbed OPEC . U.S. West Texas Intermediate (WTI) crude futures were down 4.4%, or $1.44 at $31.37 a barrel at 0402 GMT after slipping as much as 5% to a low of $31.14 earlier in the session.
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 European stocks gain at the open, on track for fourth rise in a row
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Scientists are revising the timeline of how the virus spread. Education Secretary Betsy DeVos said she would direct public school districts to share federal aid with private schools.
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House GOP leaders vow to keep fighting remote voting during pandemic CNNHouse of Representatives conducts first proxy vote in its 231-year history Fox NewsMore Than 500 Women Are Running for a House Seat in 2020, Eclipsing 2018's Historic Pink Wave NewsweekThe House should be able to vote remotely — even after the pandemic ends The Washington Post
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2020-05-27 0001209191-20-032498 4 KB
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 U.S. stock index futures gained late Wednesday, after benchmark indexes surged forward in regular trading. As of 9:30 p.m. Eastern, Dow Jones Industrial Average futures were up about 150 points, or 0.6%, while S&P 500 futures and Nasdaq-100 futures showed more modest gains. Stocks jumped Wednesday despite rising tensions between the U.S. and China, as the U.S. and European countries continued to gradually reopen from pandemic-related shutdowns. The Dow advanced 553.16 points, or 2.2%, to close at 25,548.27, while the S&P 500 rose 44.36 points, or 1.5%, ending at 3,036.13. The Nasdaq Composite gained 72.14 points, or 0.8%, to close at 9,412.36, staging its biggest intraday percentage comeback since Feb. 28, according to Dow Jones Market Data.
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.
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FCC commissioner bashes Twitter over fact-check of Trump: 'This is opinion journalism' Fox NewsTrump to sign executive order on social media amid Twitter furor POLITICOTrump threatens to crack down on social media platforms after Twitter labels his tweets CNNWhat Would Happen if Twitter Banned Trump? The New York TimesDon't be mad at Twitter, President Trump
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SpaceX, NASA scrub historic Demo-2 launch due to weather CNETSpaceX and NASA aim for historic launch: Live updates CNN InternationalOf course billionaires like Elon Musk love outer space. The Earth is too small for their egos The GuardianPresident Trump looks to celebrate space launch victory amid national coronavirus struggle ABC News
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AT&T's WarnerMedia has HBO Max apps ready for Roku and Amazon Fire TV CNETHBO Max Launch Reveals Impressive Library, Potential Netflix Challenge (Analysis) VarietyHBO Max is live: $15/mo for a massive library, significant headaches Ars TechnicaThe 11 Best Shows Streaming on HBO Max that Aren't 'Friends' DeciderHBO Max Just Dropped A Big Sur
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Stormy weather
thwarted a landmark moment for private rocket company SpaceX and
NASA on Wednesday, forcing launch directors in Florida to
postpone what would have been the first flight of U.S.
astronauts into orbit from American soil in nine years.
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Walt Disney World in Florida
on Wednesday announced plans to reopen and MGM Resorts said
guests could soon return to Las Vegas casino hotels, as more
Americans emerging from the coronavirus lockdown marked a somber
milestone of 100,000 dead.
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Asian shares and U.S. stock futures rose on Thursday as growing optimism about a global economic recovery from the coronavirus pandemic trumped immediate concerns about a standoff between the United States and China over Hong Kong.
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The carrier is among those seeing demand pick up after being decimated by the coronavirus pandemic, but the modest gains won't be enough to save thousands of industry jobs.
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Both nations are indispensable, so companies face a two-track world
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Boeing is building the 737 Max again even though it is not yet approved to fly CNNWhy Shares of Spirit AeroSystems Were Up Today Motley FoolBoeing to resume 737 Max production CNBC TelevisionBoeing cutting more than 12,000 U.S. jobs, thousands more planned ReutersBoeing set to start voluntary layoffs: Report Yahoo FinanceView Full Coverage on Google News
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Aircraft manufacturer says production of grounded jet will initially be at ‘low rate'
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GE Makes The Switch Away From Lightbulbs, Sells Business To Savant Systems NPRGE is saying goodbye to its 129-year-old light bulb business CNNGE's stock surges after deal to sell GE Lighting business to Savant Systems MarketWatchGE is selling its nearly 130-year-old lighting business MSN MoneyGE Selling Century-Old Lighting Unit to Savant Systems The New York Times
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Shares of Boeing Co. jumped more than 5% in the extended session Wednesday after the jet maker announced the layoffs of 6,770 U.S. workers, with the first employees affected being notified this week. International locations also are planning layoffs that will be announced on their own timelines, Boeing said. "The COVID-19 pandemic's devastating impact on the airline industry means a deep cut in the number of commercial jets and services our customers will need over the next few years, which in turn means fewer jobs on our lines and in our offices," Boeing said. Boeing said it is seeing "green shoots" after the devastation wrought by the virtual halt on air travel, but the industry will take "some years to return to what it was just two months ago." Some of its airline customers report that "reservations are outpacing cancellations on their flights for the first time since the pandemic started," Boeing said. Some of its businesses, such as defense, will continue hiring, the company said. In a separate press release, the company announced it was resuming production of its 737 Max aircraft in Renton, Wash. The program restarted at a low rate as the company implements safety and product quality checks, it said. Boeing halted the 737 Max production in January. Production "will gradually ramp up" this year, the company said. The 737 Max has been grounded worldwide following two deadly crashes less than five months apart that were linked to a faulty anti-stall system. Shares of Boeing ended the regular trading day up 3.3%.
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.
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Equity markets rallied on Wednesday, lifted by enthusiasm for the European Union's plans for a 750 billion euro ($823 billion) recovery fund, but crude prices slid on concerns about unrest in Hong Kong over Beijing's proposed national security laws.
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The S&P 500 edged higher in choppy trading on Wednesday as optimism over a pick up in business activity helped offset worries over simmering U.S.-China tensions, although gains were capped by losses in technology stocks.
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President Trump's next steps will be watched closely after the secretary of state accused Beijing of reneging on its 1997 pledge regarding the former British colony.
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A group of 23 U.S. states and
the District of Columbia filed a lawsuit on Wednesday
challenging a Trump administration decision to weaken Obama-era
fuel efficiency standards.
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Disney hopes to start opening some parks in July, and Boeing continues cutting costs.
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