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The coronavirus has infected more than 5,609,079 people around the world as of Wednesday, killing at least 350,876 people.
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Analysts remain wary that US-China tensions could derail market rally
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 * Futures up: Dow 1.33%, S&P 1.04%, Nasdaq 0.46%
(Adds quote, details; updates prices)
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Novavax Inc said on Wednesday it
would acquire a manufacturing plant in the Czech Republic for
$167 million as the drug developer looks to boost capacity to
produce its COVID-19 vaccine candidate.
Novavax, one of the handful of companies aiming to develop a
vaccine for COVID-19, said on Monday that it enrolled its first
participant in an early stage study testing the vaccine
candidate in humans.
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Here are four reasons investors cite for their optimism.
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 Wall Street's major indexes were set for another session of gains on Wednesday as a revival in business activity drove hopes of an economic recovery, eclipsing concerns over simmering tensions between the United States and China.
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 European Central Bank President Christine Lagarde said the eurozone economy is likely to contract along the lines previously outlined in the bank's medium to severe scenarios, ruling out the "mild" possibility. The severe outlook is for a 12% GDP decline and the medium scenario is for a 8% drop, while the mild was for a 5% drop. Lagarde was holding a question and answer session in live webcast by the central bank.
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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 While value and small caps are starting to recover, the stay-at-home stocks are starting to lose steam. One strategist is concerned.
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The latest on stock market and business news during the coronavirus outbreak.
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Innovation has kept customers coming back for more.
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Hong Kong police stamp out protests against national anthem bill CNNHong Kong crisis: riot police flood city as China protests grow The GuardianChina Has No Choice But to Take H.K. Matters Into Own Hands: Regina Ip Bloomberg PoliticsIn the midst of a crisis, China moves to crush Hong Kong's autonomy The Boston Globe
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The Standard & Poor's 500 touches 3,000 for the first time since early March as shutdown protocols continue to unwind and more drug companies chase vaccines.
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U.S. stock-index futures traded sharply higher early Wednesday, building on the previous session's strong gains on optimism over efforts to reopen the economy and the prospects for a vaccine against the coronavirus.
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Amy Cooper Is Fired After Calling Police on Black Birder in Central Park The New York TimesWhite woman apologizes for calling the cops on black man CNNBirdwatcher rips woman who called the cops on him over viral Central Park dog dispute: 'I wasn't having it' USA TODAYAmy Cooper Represents the Racism I Haven't Missed During Quarantine The New York TimesIt looks like Amy Cooper, the white woman in the
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Stocks are coming off a 530 point rally in the Dow Jones Industrial Average on Tuesday.
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NASA is paying $55 million per seat to Tesla leader Elon Musk's space-exploration company.
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No need to feel shame.
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Elon Musk says SpaceX rocket launch is "a dream come true" CBS This MorningOf course billionaires like Elon Musk love outer space. The Earth is too small for their egos The GuardianManned space launch set for Wednesday in Florida CBS 17How Elon Musk's SpaceX is changing American space flight PBS NewsHourThe rise of Elon Musk's SpaceX CBS This MorningView Full Coverage on Google News
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2020-05-27 0000088053-20-000694 91 KB
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Dow Futures Gain As Markets Look Past US-China Tensions; S&P 500 Tests 3,000 Point Level Amid Easing COVID-19 Lockdowns TheStreetDow soars 530 points on big hopes for a vaccine and the economy's reopening CNNS&P 500: Fully valued on some measures - UBS FXStreetStocks break through a major milestone but failed to close above it on first try CNBC
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Oil prices fell on Wednesday after U.S. president Donald Trump said he was working on a strong response to China's proposed security law in Hong Kong.
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The COVID-19 pandemic could have a more serious effect on your retirement than you think.
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Deutsche Bank analyst Jeriel Ong raised his price target on Apple Inc.'s stock to $320 from $305 Wednesday, writing of increased optimism now that Apple plans to reopen dozens of U.S. stores. The company announced in mid-March that it would be temporarily closing all of its stores outside China due to the pandemic. "We see store reopenings as a directional sign of improving trends and a drift toward a more normalized demand environment for Apple," Ong wrote. "While high unemployment and smaller consumer pockets have us worried for the next-gen iPhone launch that typically comes in September/October, we continue to tilt bullish on Apple. He has a buy rating on the stock. Jefferies analyst Kyle McNealy also boosted his Apple price target, to $370 from $350, arguing that Apple seems to be seeing "strong growth through online channels" since the COVID-19 crisis began. "We see Street iPhone expectations as conservative for the June quarter and they don't fully appreciate strength from online channels and the launch of the iPhone SE as positive offsets to brick-and-mortar declines," he wrote, while maintaining a buy rating. Apple shares are up 0.3% in premarket trading Wednesday. They've added 16% over the past three months, as the Dow Jones Industrial Average has lost 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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SpaceX, the private
rocket company of billionaire entrepreneur Elon Musk, was set to
launch two Americans into orbit on Wednesday from Florida on a
mission that would mark the first spaceflight of NASA astronauts
from U.S. soil in nine years.
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Ralph Lauren Corp posted a bigger-than-expected quarterly loss on Wednesday as stores across the world that sell its jackets, coats and Polo shirts were forced to close due to the COVID-19 pandemic.
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Trump tweet throws House vote on government surveillance powers into doubt CNNTrump urges GOP to vote 'NO' on FISA bill, citing Russia probe concerns Fox NewsTrump urges GOP to vote against bill reauthorizing surveillance powers | TheHill The HillKevin McCarthy asks Dems to pull FISA bill POLITICO
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World shares surged on
Wednesday as reports of a European Union rescue fund helped
offset concerns about unrest in Hong Kong over Beijing's
proposed national security laws.
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Silicon Labs said Wednesday it is planning to offer $500 million of convertible senior notes that mature in 2025 through a private offering. The Austin, Tx.-based company said it would use $310 million of the proceeds to repay an existing credit facility. Another portion will be used to fund the repurchase of outstanding 1.375% convertible bonds due 2020. Shares were down 2.3% premarket and are down 17% in the year to date, while the S&P 500 has fallen 7%.
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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With big talk and hurled insults, the gloves come off in the race for the coronavirus vaccine CNNIn The Battle Against COVID-19, A Risk Of 'Vaccine Nationalism' NPRChina might starting using coronavirus vaccines this year, even if trials haven't been completed BGRChina to use COVID-19 vaccine by end of year even if trials not completed The Jerusalem PostJohnson & Johnson vaccine is a lead candidate for COVID-19
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ZoomInfo Technologies Inc. set terms for its planned initial public offering on Wednesday with plans to offer 44.5 million shares priced at $16 to $18 each. The company, which says it's a "go-to-market intelligence platform for sales and marketing teams," would raise $801 million at the top end of that guidance. The company will have three classes of stock with varying voting rights. Proceeds of the deal will be used to purchase newly issued HoldCo units from ZoomInfo HoldCo. and to repay debt. J.P. Morgan and Morgan Stanley are lead underwriters on the deal with another 14 banks acting as co-managers. The company has applied to list on Nasdaq, under the ticker symbol "ZI."
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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Many sought to oppose a bill that would threaten prison for disrespecting the Chinese national anthem, the latest expression of public anger at Beijing's encroachment.
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Twitter labeled Trump tweets with a fact check for the first time CNNTrump news - live: President threatens to close social media platforms after accusing Twitter of ‘stifling free speech' for correcting his post The IndependentTrump accuses Twitter of interfering in election after fact check flags on mail-in voting tweets CBS This MorningTwitter Must Cleanse the Trump Stain The New York TimesTwitter's
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Unrest in Hong Kong over Beijing's proposed national security laws weighed on global shares and oil prices on Wednesday, offsetting optimism about the re-opening of the world economy.
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Shares of General Electric Co. rallied 6.0% in premarket trading Wednesday, after the industrial conglomerate announced a deal to sell its nearly 130-year old GE Lighting business to privately held home control and automation company Savant Systems Inc. for an undisclosed amount. The deal, which is expected to close in mid-2020, includes a long-term licensing deal for Savant to use the GE brand. GE Lighting will remain headquartered in Ohio, and its more than 700 employees will transfer to Massachusetts-based Savant after the deal closes. "Today's transaction is another important step in the transformation of GE into a more focused industrial company," said GE Chief Executive Larry Culp. "Together with Savant, GE Lighting will continue its legacy of innovation, while we at GE will continue to advance the infrastructure technologies that are core to our company and draw on the roots of our founder, Thomas Edison." GE's stock has run up 23.9% since closing at a 29-year low on May 15 through Tuesday, but has still lost 39.1% year to date, while the Dow Jones Industrial Average has declined 12.4% this year.
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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U.S. Treasury yields edged up for a second session early Wednesday as optimism about economic recovery lifted stocks, and after the EU, France, Germany and Japan all proposed new fiscal stimulus packages to cushion the blow of the COVID-19 pandemic.
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U.S. President Donald Trump on Wednesday threatened to regulate or shut down social media companies, one day after Twitter Inc for the first time added a warning to some of his tweets prompting readers to fact check the president's claims.
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Mortgage demand from homebuyers shows unexpectedly strong and quick recovery, as applications spike 9% from a year ago CNBCU.S. mortgage applications rise for sixth straight week ReutersHome Purchase Apps Highest Since January Mortgage News DailyDelinquencies and foreclosures won't be as bad as feared, data suggests American BankerMortgages in forbearance rise to 4.2 million, MBA says
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U.S. President Donald Trump
on Wednesday threatened to regulate or shut down social media
companies, one day after Twitter Inc for the first time
added a warning to some of his tweets prompting readers to fact
check the president's claims.
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World shares surged on Wednesday as reports of a European Union rescue fund helped offset concerns about unrest in Hong Kong over Beijing's proposed national security laws.
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 Stock futures were little changed Tuesday evening at the start of the overnight session, taking a pause after the S&P 500 closed out at its highest level since March 5.
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The euro rose and Italian bond yields rallied Wednesday, on a report the European Union plans to announce a stimulus package worth as much as €750 billion ($823 billion). Citing an official with knowledge of the plan, Bloomberg reported that the package would be split between €500 billion loans and €250 billion grants, funded by borrowing on financial markets. The plan is due to be announced by European Commission President Ursula von der Leyen later, and will be a key part of the EU's effort to lift the region out of a pandemic led recession. The deal could be seen as a compromise given the so-called Frugal Four -- Austria, Sweden, Denmark and the Netherlands -- have been opposed to a recovery fund that isn't based on loans. The yield on the 10-year Italian bond fell 5 basis points to 1.504%. The euro jumped 0.4% to $1.1024. Yields fall as bond prices rise.
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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IEA says the coronavirus crisis has set in motion the largest drop of global energy investment in history CNBCOil Holds Gains As Demand Continues To Rise OilPrice.comGlobal energy spending to fall $400bn due to coronavirus crisis Financial TimesGlobal energy investment expected to tumble 20% in 2020 due to COVID crisis: IEA Reuters
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Ralph Lauren Inc. shares slipped 1.3% in Thursday premarket trading after the luxury clothing and accessories company reported wider-than-expected fourth-quarter losses. Net losses totaled $249 million, or $3.38 per share, after net income of 31.6 million, or 39 cents per share, last year. Adjusted losses of 68 cents per share were below the FactSet consensus for losses of 26 cents per share. Revenue of $1.27 billion was down from $1.51 billion last year but just ahead of the $1.26 billion FactSet outlook. The revenue decline was attributed to the coronavirus pandemic and Hong Kong protests. Revenue in North America was down 11% to $629 million and in Asia, revenue was down 22% to $214 million. Europe fell 19% to $353 million. Ralph Lauren ended fiscal 2020 with $2.1 billion in cash and investments and $1.2 billion in debt. The company drew down $475 million from its global credit facility and took other measures in response to COVID-19, including halving Chief Executive Patrice Louvet's salary, eliminating Chief Creative Officer Ralph Lauren's salary and bonus, and furloughing a "substantial portion" of store and corporate employees. Ralph Lauren stock has slumped 30.6% for the year to date while the S&P 500 index is down 7.4% for the period.
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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Progressive activists say mortgages and rent should be cancelled while the coronavirus pandemic slows the economy, but what would that mean for landlords?
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 HBO Max, the new streaming service from AT&T-owned WarnerMedia, finally arrives tomorrow, coming onto the scene as much of the country remains home, watching television far more than usual due to the ongoing Covid-19 pandemic. For the company's big bet on streaming, executives are hopeful that they can scale up fast by using an existing...
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Investment-grade borrowers take advantage of low yields to boost Covid-19 balance sheets
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L.A. County asking state to let businesses to reopen sooner Los Angeles TimesRetail stores can reopen for in-person shopping starting Wednesday, LA mayor says CBS NewsThe Price of a Virus Lockdown: Economic ‘Free Fall' in California The New York TimesL.A. County opens churches, stores, pools, drive-in theaters Los Angeles TimesLos Angeles Coronavirus Update: Mayor Eric Garcetti Says, "All Retail Businesses," Including Drive-Ins, Can Reopen So Long As They Observe Proper Protocols Deadline
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Copper prices climbed on
Wednesday as optimism about developing coronavirus vaccines
fuelled hopes of a quick rebound in the global economy, though
gains were capped amid simmering tensions between the United
States and top metals consumer China.
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Los Angeles Coronavirus Update: Mayor Eric Garcetti Says, "All Retail Businesses," Including Drive-Ins, Can Reopen So Long As They Observe Proper Protocols DeadlineThe Price of a Virus Lockdown: Economic ‘Free Fall' in California The New York TimesRetail stores can reopen for in-person shopping starting Wednesday, LA mayor says CBS NewsL.A. County opens churches, stores, pools, drive-in theaters Los Angeles TimesCa
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New York Governor Andrew Cuomo donned a face mask and rang the opening bell at the New York Stock Exchange on Tuesday, marking the partial reopening of the trading floor at 11 Wall Street, which had been shuttered since March 23 due to the coronavirus outbreak.
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The economic fallout of the coronavirus pandemic has got many of us looking for new ways to make the most of our money. Here's where investment experts are seeing opportunities.
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Social media site says president's posts contain ‘potentially misleading information'
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"We're all going to learn, but Mount Sinai will be ready for this," Mount Sinai Health System co-chair Richard Friedman told CNBC.
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