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6/13/2020 3:01:31 AM
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US GDP slumped 4.8% in the first quarter
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US GDP slumped 4.8% in the first quarter
US gross domestic product fell at a 4.8% annualized rate in the first quarter, according to Commerce Department figures released Wednesday. The report showed that the longest-ever economic expansion that started following the Great Recession has officially ended. Now, economists are watching to see how bad second quarter GDP may slump as the coronavirus pandemic continues in the US.Visit Business Insider's homepage for more stories.To get more news about wikifx, you can visit wikifx news official website.
The longest-ever US economic expansion is officially over. US gross domestic product fell at a 4.8% annualized rate in the first quarter, according to Commerce Department figures released Wednesday. Economists expected that GDP would shrink by a 3.8% annualized rate in the first quarter, according to Bloomberg data. The slump from January through March reflects the sharp economic impact of country-wide shutdowns to curb the spread of Covid-19. In March, most of the US went into lockdown mode — states banned non-essential business, sent workers home, and told residents to practice social-distancing.“Today's first quarter numbers are just the deeply unappetizing appetizer,” wrote Ian Shepherdson, chief economist of Pantheon Macroeconomics, in a Wednesday note.
The GDP contraction has ended the longest-ever economic expansion that took place in the US after the Great Recession of 2007-2009. During the record expansion, the unemployment rate fell to a 50-year low of 3.5%, and the US economy added jobs for 113 months in a row.
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Read more: The manager of the best small-cap fund of the past 20 years explains why he's betting big on a consumer recovery — and shares his top 4 stock picks in the struggling sectorNow, it's likely that a coronavirus-induced recession started in the first quarter. A slew of economic indicators point to extreme fallout in the US economy.In just five weeks, 26 million Americans have filed for unemployment claims, effectively erasing more than a decade of job creation in just over a month. In addition, industrial production has fallen, retail sales have declined at a record pace, and housing sales have slumped.
While some economists mark the beginning of a recession as two consecutive quarters of GDP contraction, official arbiters have a more comprehensive approach. The National Bureau of Economic Research says a recession is “a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.” Any official call will take some time, as the bureau's Business Cycle Dating Committee weighs whether a recession began in March, when much of the US was shut down amid the coronavirus pandemic, or if the economy started trailing off at the end of February. Going forward, economists will be watching to see how bad the situation becomes and weigh what shape a recovery might take. The worst may be yet to come — first quarter GDP could be revised even lower as more data is collected.In addition, second quarter GDP is expected to fall at an even sharper annualized rate. Economists expect major slumps, ranging from Bank of America's -30% estimate to JPMorgan's -40% forecast.
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6/13/2020 3:20:46 AM
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It's a boy: British PM Johnson's fiancee gives bir
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It's a boy: British PM Johnson's fiancee gives birth
British Prime Minister Boris Johnson's fiancee, Carrie Symonds, has given birth to a baby boy, Downing Street said on Wednesday.To get more news about Indiabulls, you can visit wikifx news official website.
Both mother and child are doing well. The boy was born at a London hospital.
Johnson returned to work on Monday, a month after testing positive for COVID which he said had threatened his life. Symonds also had symptoms of COVID but recovered swiftly.
The couple, who have been living together in Downing Street since Johnson became prime minister in July, announced in February that they were expecting their first child.
Politicians began sending their congratulations to the couple.
“So thrilled for Boris and Carrie. Wonderful to have a moment of unalloyed joy!,” Health minister Matt Hancock said on Twitter.
Johnson, who refuses to say how many children he has in total, was previously married to Marina Wheeler, and they had four children together. They announced in September 2018 that they had separated and they divorced earlier this year.
Major central banks have responded to the economic slump caused by the coronavirus by slashing interest rates, buying more government debt, and taking steps to increase lending to small companies.Elsewhere in currencies, the Australian dollar traded near a six-week high of $0.6472 as investors continued to cheer the country's progress in containing the coronavirus.Gold, a safe-haven often bought during times of uncertainty, fell for a third consecutive trading session in signs of improving risk appetite.(Reporting by Stanley White in Tokyo and Chibuike Oguh in New York; Editing by Sam Holmes)
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6/13/2020 3:32:55 AM
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Asian stocks and US futures tank as US crude drop
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Asian stocks and US futures tank as US crude drop 14% and Brent crude falls 4%
Asian stocks and US futures took a hit as oil prices dropped another 14% on Tuesday, despite optimistic rises in US stocks as states prepare to re-open.Oil futures slumped after the largest U.S. oil exchange-traded fund said it would sell all its front-month crude contracts to avoid further losses as prices collapse.MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3%. Shares in China fell 0.7% and South Korean shares fell 0.22%.U.S. crude skidded 14.24% to $10.96 a barrel while Brent crude fell 4.05% to $19.18 per barrel.Visit Business Insider's homepage for more stories.To get more news about OctaFX, you can visit wikifx news official website.
TOKYO/NEW YORK (Reuters) - Asian shares and U.S. stock futures dipped into the red on Tuesday, erasing earlier gains as a renewed decline in oil prices overshadowed optimism about the easing of coronavirus-related restrictions seen globally.MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3%. Shares in China fell 0.7% and South Korean shares fell 0.22%.Oil futures slumped after the largest U.S. oil exchange-traded fund said it would sell all its front-month crude contracts to avoid further losses as prices collapse.Some investors are hoping the worst may be over for the world economy as more countries allow businesses to re-open, but others see reasons to remain cautious, especially as a coronavirus vaccine has yet to be developed.
“We are less optimistic and expect a slower recovery in the world economy,” Commonwealth Bank of Australia said in a research note.“The risk of reintroducing restrictions is a risk to market participants' optimistic outlook for a quick resumption of normal economic activity.”All three major U.S. stock averages advanced on Monday and are all now within 20% of their record closing highs reached in February.The benchmark S&P 500 is on track for its best month since 1987, after trillions of stimulus dollars helped U.S. equities claw back much of the ground lost since the coronavirus crisis brought the economy to a grinding halt.
But some analysts believe gains may be limited unless there is progress in finding treatments for the disease.
From Italy to New Zealand, governments announced the easing of restrictions, while Britain said it was too early to relax them there. New York state is not expected to reopen for weeks..Oil prices weakened again on persistent concerns about oversupply and a lack of storage space. The front-month contract was trading at lower-than-usual volumes on Monday as traders moved to later months in futures contracts.U.S. crude skidded 14.24% to $10.96 a barrel while Brent crude fell 4.05% to $19.18 per barrel.
Shares of United States Oil Fund LP , the country's largest crude ETF, fell more than 16% on Monday, after it said it would sell all of its front-month crude contracts to avoid a repeat of the heavy losses suffered last week.The U.S. dollar and the euro were little changed as traders refrained from taking big positions before a Federal Reserve policy decision due on Wednesday and a European Central Bank (ECB) meeting Thursday.The Fed has already announced a raft of measures to lessen the economic blow from the coronavirus pandemic and is expected to stay on hold this week.The ECB is likely to extend its debt purchases to include junk bonds and provide a backstop for corporate financing.
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6/13/2020 3:45:53 AM
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GBP Exchange Rate Is Resistant to Decline
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GBP's Exchange Rate Is Resistant to Decline
The British pound has been sluggish recently, being among a group of non-US currencies that suffered general pressure due to risk aversion sentiment caused by WTI's decline into negative areas. However, the pound has now shown obvious resistance to decline.To get more news about wikifx, you can visit wikifx news official website.
Despite Markit's service industry PMI in April of 12.3, which was much lower than the expected 27.8, the pound did not show a sharp decline, indicating that the market partially digested the epidemic's shock on Britain's economy. We believe that pound s current exchange rate at an extremely low range indicates the currency has little room for further declines. As the global economy gradually recovers, the pound may rebound significantly.
The negotiators of the United Kingdom and the European Union began week-long consultations to discuss the relationship between the two countries after the Brexit, including trade issues. As the epidemic persists, the possibility of the UK applying for an extension of the Brexit transition period is also increasing. The market still needs to pay close attention to how the progress of related matters evolve.
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6/13/2020 3:55:37 AM
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Argentina blocks commercial flight sales
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Argentina blocks commercial flight sales until September in coronavirus response
BUENOS AIRES (Reuters) - Argentina has banned until September ticket sales for commercial flights as part of its coronavirus response, prompting an industry outcry that the new measure will put massive strain on airlines and airports.To get more news about OctaFX, you can visit wikifx news official website.
While the country's borders have been closed since March, the new decree goes further in preventing until Sept. 1 the sale and purchase of commercial flights to, from or within Argentina.
The spread of coronavirus “does not allow certainties” for the end of social isolation measures, which would threaten commercial air transportation, the decree said.
“It has been understood to be reasonable to set September 1, 2020 for the purpose of rescheduling regular operations or requesting authorizations for non-regular operations of passenger air transport subject to the effective lifting of restrictions imposed on commercial air transport and operating modalities,” the decree by the National Civil Aviation Administration said.
Part of the decree's aim is to prevent airlines from ticketing flights not approved by the government.
“The problem was that airlines were selling tickets without having authorization to travel to Argentine soil,” a spokesman for President Alberto Fernandez said.
The decision prompted industry groups including ALTA, which lobbies on behalf of Latin American airlines, to warn that the decree represented “imminent and substantial risk” to thousands of jobs in Argentina.
“It is our responsibility to express the deep concern generated by the resolution in question, which was not shared or agreed with the industry and, furthermore, runs counter to the efforts of all the actors in the sector to propose and implement a plan for responsible and safe reactivation that re-establishes commercial activities and an essential service for the population,” the groups said in a statement.
The presidential spokesman, however, said the decision resulted from a “consensus between the government and the airline sector.”
The Sept. 1 timeframe was arranged with the airlines “to give time to our authorities to bring all the Argentines who are abroad and want to get back,” the spokesman said.
The South American nation had already closed its borders and blocked entry to foreigners from “affected zones,” including Europe, China and the United States.
Argentina has been under a national lockdown since March 20. The government, over the weekend, extended the quarantine until May 10, but said it had been successful in slowing the rate at which new cases double.
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6/13/2020 4:06:12 AM
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South Africa seeking 5 billion from multilateral l
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South Africa seeking $5 billion from multilateral lenders to fight virus
South Africa is seeking 95 billion rand ($4.99 billion) from multilateral lenders to help it fight the COVID-19 pandemic, a senior Treasury official said on Sunday.To get more news about Angel Broking, you can visit wikifx news official website.
Africa's most advanced economy is talking to the International Monetary Fund (IMF), World Bank, New Development Bank of the BRICS and African Development Bank to source funding to contribute to a 500 billion rand rescue package aimed at cushioning the impact of the new coronavirus on businesses and poor households.
The IMF has said South Africa is entitled to apply for up to $4.2 billion in response to the crisis, and Finance Minister Tito Mboweni said on Friday the government could negotiate for a facility of “maybe between $55 and $60 million” at the World Bank.
Dondo Mogajane, director general of the National Treasury, said in an interview with eNCA television on Sunday that South Africa “will certainly go” for the IMF funding.
“The World Bank has said ...South Africa can access a loan of about $50 million, the New Development Bank did say long ago that they have set aside a billion dollars that we can access and again we will be accessing that,” Mogajane said.
“All in all, all of these interventions, currently we are looking at 95 billion rand coming from these institutions only for COVID-related interventions.”
Mogajane said the government has to do everything at its disposal to make sure the coronavirus is contained, including reprioritising money from projects that are not a priority for now and looking for new cheap money.
“I am emphasising new money that is cheap because currently the discussions obviously should centre around what the term rates are going to be. That is where we are currently, we are discussing with them (lenders),” he said.
“The IMF has said upfront that it is 1% interest that is available so we will certainly go for it because it is cheap.”
Mboweni on Friday played down worries in some governing party circles and within the influential trade union movement that the money would come with onerous conditions.
An IMF official told Reuters that the emergency funds on offer came with no requirement for a structural adjustment programme.
The economy was in recession when the virus outbreak hit South Africa and public finances were already strained as the government bailed out struggling state firms.
South Africa had recorded 4,361 cases, including 86 deaths, with 161,004 people tested for the virus as of Saturday.
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6/13/2020 4:22:35 AM
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US banks make billion processing coronavirus resc
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US banks make $10 billion processing coronavirus rescue loans
US banks earned $10 billion in two weeks processing the loans from the government scheme to protect small businesses from financial ruin during the coronavirus crisis, according to an NPR report.The rescue plan worth $349 billion offered businesses loans of up to $10 million to thousands of US companies and were guaranteed by the federal Small Business Administration.The banks charged a transaction fee of 5% on loans worth less than $350,000, while on loans worth between $2 million - $10 million, the cost was 1%.The banks defended the massive windfall of loan transaction fees, saying that processing the loans involved complicated vetting procedures.Treasury Department guidelines are less rigorous than for regular loans, and the taxpayer provides the funding, so there is little risk for the banks.Visit Business Insider's homepage for more stories.To get more news about WikiFX, you can visit wikifx news official website.
Banks have earned a quick $10 billion processing US government loans to small businesses affected by the coronavirus crisis, according to a new report.The $350 billion rescue program aims to funnel cash to small businesses distressed by the economic blows of the COVID-19 crisis.In two weeks, banks including JP Morgan, Bank of America, and PNC Bank vetted thousands of applications for federal loans of up to $10 million. Transaction charges start at 5% for loans under $350,000, reducing to 1% for loans between $2 and $10 million, according to NPR.The loans are guaranteed by the government, and the guidelines issued by the Treasury Department indicate that they require less vetting than regular loans. There is no risk to the banks which are merely the middlemen.
The banks have defended the costs, arguing the vetting process for each loan can still be complex. In an email statement seen by NPR, Bank of America said the program included “collecting, personally examining, and storing data” that is required for each application.One example highlighted by NPR was on April 7, when the parent company of Ruth's Chris Steak House, RCSH Operations LLC, received a loan of $10 million. JPMorgan Chase & Co., took a $100,000 fee on the one-time transaction for which it assumed no risk.The scheme, known as the Payment Protection Program (PPP), exhausted its funds last week. Aimed at small businesses with less than 500 employees, it was hit with controversy as larger companies exploited loopholes to tap into it.
Some large, well-funded companies were granted millions of dollars from the $350 billion pool of funding, while many small, mom-and-pop shops were unable to access any funding at all, sparking public outrage.The initial PPP funding was snapped up in less than two weeks. Congress has now approved an additional $310 billion and new loans will be issued again starting next week.
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6/13/2020 4:35:16 AM
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Plans to restart Canadian economy do not hinge on
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Plans to restart Canadian economy do not hinge on coronavirus 'immunity' levels
Plans underway to restart the economies of Canadian provinces do not depend on presuming people who become infected with coronavirus develop immunity to it, Canadian Prime Minister Justin Trudeau said on Saturday.To get more news about WikiFX, you can visit wikifx news official website.
The World Health Organization said earlier that there was “no evidence” that people who have recovered from COVID-19 and have antibodies are protected from a second infection.
“I don't believe there are any plans that hinge on certain people being immune to COVID-19,” Trudeau said in his daily briefing in Ottawa, adding that provincial plans focus on preventing the spread through social distancing and protective equipment in workplaces.
“(Immunity) is something we need to get clearer answers to and until we have those clear answers, we need to err on the side of more caution.”
In a scientific brief, the United Nations agency warned governments against issuing “immunity passports” or “risk-free certificates” to people who have been infected as their accuracy could not be guaranteed.
New Brunswick is the first Canadian province to begin reopening parts of its economy and Saskatchewan has outlined a plan to start reopening in May.
Trudeau met with provincial premiers on Friday to discuss their restart plans. Measures will differ as infection rates vary among provinces, but require national coordination, he said.
Canada's death toll from COVID-19 rose 7% to 2,350 from a day earlier. Cases reached more than 44,000.
Some 80% of Canada's cases are in Quebec and Ontario, where there are numerous outbreaks in nursing homes.
Even so, a small protest outside the Ontario legislature on Saturday demanded the easing of public health measures.
“It‘s irresponsible, reckless and it’s selfish,” Premier Doug Ford said of the call to loosen restrictions, speaking at a briefing. “It burns me up.”
Such protests have been smaller in Canada than in the United States, where Republican politicians and individuals affiliated with President Donald Trumps re-election campaign are organizing or promoting anti-lockdown protests.
Also Saturday, Trudeau announced funding for the country's fish and seafood processors whose businesses were harmed by the coronavirus pandemic.
The government will provide C$62.5 million ($44.32 million) in financing to buy protective equipment for workers or storage space for products to sell them later.
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6/14/2020 10:52:46 PM
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6/14/2020 11:04:22 PM
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6/14/2020 11:07:53 PM
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6/14/2020 11:20:23 PM
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Sterling Is Still in the ICU
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Sterling Is Still in the ICU
Of course, we continue to pay attention to the second round of EU-UK trade negotiations that began today, but on the eve of the negotiations, the EU s chief negotiator Barnier warned Britain that should it fails to comply with its commitments, there may be a no-deal Brexit. Therefore, the financial market remains extremely worried that failing to reach a relevant agreement by the two parties will result in a Brexit without a trade agreement when the transition period is over at the end of the year. Of course, the pound may rebound if there is a dramatic turnaround, but the outlook is still pessimistic.To get more news about WikiFX, you can visit wikifx news official website.
Regardless of whether the UK and the EU have reached an agreement in trade negotiations, the new coronavirus has caused the worst economic blow to the UK in 100 years. Therefore, forex traders generally believe that the Bank of England will implement negative interest rates in the future to stimulate the economy.
In order to support the weak economy, the British fiscal deficit and even the overall debt have deteriorated seriously. At present, the overall borrowings of the United Kingdom exceeds US$ 2.5 trillion, the highest annual deficit since World War II. The related deficits and debts have skyrocketed, which only add to the already huge burden of Britain with little reserves. Therefore, it is generally predicted that the British government will increase taxes in the future with few options at hand, which will hit the economy even more.
Affected by the above situations, the implied volatility of the three-month pound sterling is higher than the forex volatility index, while the net short position of the pound has continued to rise, both reflecting the continued pessimism of the forex market towards the pound.
The dollar will fall in the short term due to domestic turmoil, and if the European-British negotiations really see a dramatic turnaround, it's likely that the GBP/USD will rise from the previous 1.2650 and then fall back to the 1.1960 level. Judging from the overall trend, I think there is still a chance for the pair to retest the low of 1.1400 in the second half of the year.
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6/14/2020 11:32:57 PM
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Trading Opportunities in EUR/USD and EUR/JPY
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Trading Opportunities in EUR/USD and EUR/JPY
Trading variety recommended today is: EUR/USD (up: 7 days, overnight change: 0.56%, fluctuation: 0.81%)
The correlation coefficient of EUR/USD and EUR/JPY reaches 0.97 during this period, and below are some trading tips for investors.To get more news about Binomo, you can visit wikifx news official website.
u Hedging: when buying one 1 standard lot of long/short position EUR/USD, hedge with 1 standard lot of EUR/JPY in the opposite direction.
u Portfolio diversification: When investing in EUR/USD, avoid the high-correlation varieties and invest in other forex varieties less relevant to EUR/USD.
u Risk distribution: when buying one 1 standard lot of long/short position EUR/USD, couple with 1 standard lot of EUR/JPY in the same direction.
u Today's special reminder for investors: Eurozone service industry PMI final reading will be released at 16:00, Eurozone's April monthly retail sales at 17:00, and the main refinancing rate of the European Central Bank to June 4 released at 19:45.
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WikiFX News (5 June)-The European Central Bank released the latest monetary policy decision yesterday, and EUR/USD rose significantly while the ECB Chair Lagarde was still speaking.
ECB Commissions latest decisions include increasing the Pandemic Emergency Purchase Programme (PEPP) by 600 billion euros to 1.35 trillion euros. Net purchase under this programme will be extended to at least the end of June, 2021. The principal payments from maturing securities under the scheme will continue to be reinvested until at least the end of 2022.
The ECBs projection for EUR/USD rate is 1.09 in 2020 and 1.08 in 2021-2022.
EUR/USD shortly spiked 67 pips after the decisions were released and then slightly dropped back. Later it grew again during Lagardes speech at the press conference.
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6/14/2020 11:47:23 PM
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AUD, APAC Stocks May Trim Gains. Is Bullish Sentim
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AUD, APAC Stocks May Trim Gains. Is Bullish Sentiment Fading？
Wall Street ended the day mostly in red, with the S&P 500 and Nasdaq indices closing 0.34 and 0.69 percent down, respectively. Crude oil prices ended the day modestly higher though gold and bond prices fell. Foreign exchange markets showed a somewhat mixed picture. The anti-risk Japanese Yen was down against its G10 counterparts along with the Canadian and US Dollars while SEK and NOK relaxed in the green.To get more news about AXNFX, you can visit wikifx news official website.
US jobs data soured sentiment and temporarily pushed the anti-risk US Dollar higher against its counterparts. Initial jobless claims came in higher than expected at 1877k, over 40k more than the 1833k estimate. The prior number was also revised to show a 3k increase from 2123k to 2126k. These statistics sent a chilling reminder to buoyant investors that the consequences of the coronavirus pandemic have yet to be fully revealed.
The Euro soared for an eighth consecutive day, resulting in its longest winning streak since 2011 following the ECB rate decision. Monetary authorities surprised markets after they announced an unexpectedly-large increase to its emergency purchasing program known as the Pandemic Emergency Purchase Program (PEPP) by 600 billion euros.
EUR/USD closed almost one-percent higher and is at its highest point since March. Investors likely cheered the central banks efforts to support growth, boosting equities and sinking USD. The extra stimulus also pushed sovereign bond yields lower on debt issued by economically distressed states like Italy that were hit particularly hard by Covid-19 and helped lift the Euro.
Fridays Asia-Pacific Trading Session
With a bare data docket ahead, foreign exchange markets will likely place their focus on macro-fundamental risks. Asia may inherit the mixed dynamics of Wall Street which could see AUD and NZD trim some of their gains along with emerging market FX. Fading market optimism may result in a pullback from an impressive rally in sentiment-linked assets and could push the anti-risk Japanese Yen and US Dollar higher.
AUD/JPY Analysis
Since mid-late March, AUD/JPY has surged over 20 percent after bottoming out at an 11-year low at 66.046. The pair is now at the lower tier of a key inflection range between 75.925 and 76.320. If AUD/JPY is able to clear it with follow-through, this could lead to a retest of former support-turned-resistance at 77.736. However, if the pair is unable to clear 79.925, capitulation could inspire additional sellers to enter the market.
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6/15/2020 12:00:07 AM
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Crude Oil Rally Hindered by Gap Resistance, OPEC+
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Doubts remain whether today‘s OPEC+ meeting will take place, with no official confirmation one way or another to guide traders. The meeting was originally set for June 9-10 but talk surfaced late-May that the meeting could be forward to today to announce an extension of April’s production cuts. The 9.7 million barrel per day production cut runs out at the end of June and market talk is that OPEC+ members may extend these cuts for another month to help balance faltering demand.To get more news about WikiFX, you can visit wikifx news official website.
Crude oil has rebounded sharply off its late-April low with little in the way of any consolidation. A series of lower highs highlight the recent positive sentiment in the space and recent price action has taken crude to the bottom of a gap on the daily chart made between March 6 and March 11 this year. Followers of gap trading normally look for any gap to be filled as there is little in the way of support or resistance to slow the move. The daily chart shows the gap between $36.59/bbl. and $41.94/bbl. and the lower level continues to temper a full re-trace of this gap. The CCI indicator shows the oil market in overbought territory and there needs to be a positive fundamental driver to push oil higher through this resistance to faciltate further gains. If OPEC+ cuts are extended, and the market retains its overall risk-on sentiment, then a break through $41.19/bbl. would set up the 61.8% Fibonacci retracement level at $43.36/bbl. as the next target ahead of the 200-dma, currently at $44.79/bbl.
Traders may be interested in two of our trading guides – Traits of Successful Traders and Top Trading Lessons – while technical analysts are likely to be interested in our latest Elliott Wave Guide.
What is your view on Crude Oil – bullish or bearish？ You can let us know via the form at the end of this piece or via Twitter @nickcawley1.
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6/15/2020 12:13:13 AM
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Did‘Black Lives Matter Rally’and all major
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Did‘Black Lives Matter Rally’and all major rallies bring negative effect on the stock market?
After last weeks riots, many people compared the current chaos to that of 1968: a global pandemic, ethnic conflict and political upheaval. That year, Martin Luther King and Robert Kennedy were assassinated, the presidential campaign between Nixon and Humphrey highly polarized US political circle, protests broke out across the United States, and the H3N2 flu, which turned into a global pandemic, killed nearly 100,000 Americans and millions around the world.To get more news about WikiFX, you can visit wikifx news official website.
At that time, the US stock market was quite similar to what it is now-the stock index has risen amid in turmoil. Between January and March 1968, the S&P 500 fell 9%, but the market has since rebounded by 24%, and up 7.6% for the year. Also, in the months after the assassination of President John F. Kennedy in 1963, the civil rights movement in Alabama in 1965, the War of Resistance in Washington, D.C., in 1967, and the Los Angeles riots in 1992, the volatility of US stocks remained unchanged. Moreover, the S & P 500 has recorded gains in these years, ranging from 4% to 20% after dividends.
These past cases remind us that the stock market and social and political events are not always linked. We may even say that the problem of social unrest has little long-term impact on the market. One reason is that the market is forward-looking, so it's not just about the current situation. On the other hand. The Fed is propping up an economy hit hard by the epidemic with unprecedented intervention. Since the end of February, the Fed has poured nearly $3 trillion into financial markets, boosting stocks and overshadowing other market forces.
It is worth mentioning that, like 1968, this year is also an election year in the United States. Some industry insiders point out that if there was any reason why asset prices survived the terrible year in 1968, the election may be one of the important reasons.
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7/2/2020 4:00:24 AM
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Winning $410M Mega Millions Ticket Sold In Phoenix
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Winning $410M Mega Millions Ticket Sold In Phoenix Suburb
A sole winning ticket for Tuesday’s $410 million Mega Millions drawing was sold at a convenience store in a Phoenix suburb, lottery officials said Wednesday.Get more news about 彩票包网,you can vist loto98.com
The winning ticket was purchased at a Circle K in the city of Glendale, Arizona Lottery spokesman John Gilleland said Wednesday.
The jackpot can be paid out as an an annuity with 30 annual payments or is worth $316.8 million if collected in a lump-sum, Gilleland said.
The winning numbers were 1, 5, 9, 10 and 23, with Mega Ball 22.
Under a 2019 Arizona law, the winner can remain anonymous forever, Gilleland said.
“We may never be able to release the identity,” he said.
The law specifies that winners of Arizona Lottery prizes of $100,000 or more automatically remain anonymous for 90 days but the winners can choose to remain anonymous permanently. The option for permanent anonymity was adopted last year.
“Every single person that has won that sort of money has opted for that,” Gilleland said.
As of Tuesday afternoon, the prize was unclaimed. The ticket was sold at Fast Lane Shell, 1999 E. Ajo Way, near South Kino Parkway, according to Arizona State Lottery officials.
The ticket matched four out of the five numbers and the Powerball number. "This ticket's cash prize would have been $50,000, but since the ticket also had Power Play, the total cash prize tripled to $150,000," officials said.
The winning numbers were 16, 32, 35, 36, 46 and Powerball number 3. The Power Play number was 3. The holder of a Powerball ticket worth more than $136 million has contacted the West Virginia lottery.
But lottery assistant director Randy Burnside says the winner wants to remain anonymous.The ticket that was sold at a convenience store in Hinton was the only winning ticket in the country to match all six numbers drawn June 3.
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7/2/2020 4:11:19 AM
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Winning lottery ticket nets Newport News woman a $
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Winning lottery ticket nets Newport News woman a $150,000 prize
Carlis Hart couldn’t quite believe her eyes — a winning lottery ticket.Get more news about 彩票包网平台,you can vist loto98.com
The Newport News woman took a photo of her Cash Chaser ticket and sent it to a friend to verify that it was real.
“I was in shock. I couldn’t sleep!” Hart told lottery officials as she claimed her prize. “I’m in shock still!”
Hart purchased the ticket that won her $150,000 at the Food Lion at 15435 Warwick Boulevard in Newport News. She received her prize June 5.Her odds of winning the top prize were 1 in 1,305,600, the Virginia Lottery said in a news release. She was the first one to claim the prize, which means two winning tickets haven’t been claimed.
Hart told the lottery officials that she hadn’t yet decided what she would do with the money.Winners have 180 days from the Mega Millions drawing to claim their prizes. After 180 days, the tickets expire and cannot be redeemed.
The next Mega Millions drawing is Friday, June 12. The jackpot resets to $20 million.The Arizona Lottery isn't just about games of chance and winning money. It's also about giving back.
"Proceeds from Arizona Lottery ticket sales go to programs and organizations that help Arizona’s communities in four key areas: higher education, health and human services, the environment and economic and business development.
Last fiscal year, sales by the Arizona Lottery passed the $1 billion mark for the first time. By June 2019, it had already more $220 million back into Arizona. In 2018, beneficiaries of the Arizona Lottery received $212 million.
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7/2/2020 4:28:22 AM
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GBP Faces Pressure with Inflation Rate at 4-year’s
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GBP Faces Pressure with Inflation Rate at 4-year’s Low
Britains inflation rate dropped to the lowest since August, 2016, raising speculations that the Bank of England will have to take further measures to boost demand.To get more news about WikiFX, you can visit wikifx news official website.
In addition, Britan‘s CPI grew 0.8% year-on-year, lower than economists’ expectations. The figure may kindle an even more heated debate over whether the central bank should introduce negative interest rate for the first time.
HSBC downgraded its forecast of GBP/USD before the end of the year from the previous 1.35 to 1.2, while pointing out the risks including Britains fiscal well-being(as the worst of G10 members) and Brexit: euro is expected to rise from 0.81 to 0.87 against pound before the end of the year, the British government again dismissed the possibility of extending the Brexit transitional period, while it seems unlikely for the two sides to completely settle a free trade deal before the end of 2020.
With Britain sinking into a severe recession and the economy in sluggish recovery, structural factors may further weigh on the pound.
In Europe, the hardest-hit area of the epidemic, financial measures are also being gradually promoted and implemented. European Commission President von der Lane said the EU will launch an investment plan of 37 billion euros and give member states flexibility in terms of budget deficits and state aid, and will use 1 billion euros of EU funds to provide loan guarantees of up to 8 billion euros to 100,000 companies in tourism, retail, transport and other troubled industries hit by the epidemic.
Italian Prime Minister Conte said that 25 billion euros have been prepared to deal with the economic impact of the COVID-19 epidemic. British Chancellor of the Exchequer Sunak said he would provide 330 billion pounds in government loans and guarantees to support the economy. French Finance Minister Lemerre announced that he would invest 45 billion euros to fight the epidemic.
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7/2/2020 4:54:38 AM
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Make sure to keep your chips at the critical momen
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Make sure to keep your chips at the critical moment.
After the 2008 financial crisis, the whole world is afraid of whether there will be another financial crisis similar to that of 2008. When the crisis really comes, people are still unprepared and unable to deal with it. What is the real danger？ The largest economy starts to divide due to trading, the whole country was hit by COVID-19. An uncoordinated policy response between countries will prolong economic weakness and trigger a new round of currency war.To get more news about WikiFX, you can visit wikifx news official website.
Trade war, that means two or more countries have a conflict of trade taxes with each other. Generally, a country implements trade war in order to raise tariffs against other countries and expand its own exports. If the countries involved refused to compromise, they will face further increase of export tariffs.
Currency war means that countries maximize their benefits through their own currencies, usually by devaluing their currencies to stimulate exports and gain benefits from the exchange rate. When countries begin to devalue their currencies competitively, global currency wars and exchange rate wars will break out.
With the quantity of COVID-19 confirmed cases keep raising, the market investors have an unprecedented sense of urgency.
According to an analysis by MSIC, so far, global stock markets have fallen nearly 20 percent as a result of the spread of the COVID-19 epidemic and the collapse in oil prices, and volatility is expected to soar to more than 40 percent. It remains to be seen whether the crisis will follow a pattern similar to that of the past.
Underthe epidemic, major central banks around the world have begun to act.
The Fed cut interest rates by 50 bp and 100bp in a row, lowered the target range of the federal funds rate to 0- 0.25 percent, announced a new round of quantitative easing (QE) of $700 billion and cut the discount rate for emergency loans by 125bp. According to incomplete statistics, in addition to the Federal Reserve, more than a dozen central banks, including the Bank of Australia, the Bank of Canada and the Bank of Korea, have also entered the ranks of interest rate cuts.
Although the European Central Bank and the Bank of Japan, which are already in negative interest rates, did not cut interest rates further, they both stepped up quantitative easing. The ECB added an additional 120 billion euros in asset purchases until the end of the year, while the Bank of Japan announced an Y6,000bn increase of its annual ETF purchase target to Y12 trillion and a raise of the Japanese real estate investment trust (J-REITs) purchase target to Y180 billion.
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