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(Bloomberg) -- Intense volatility, a stock slump and more delays on a stimulus package are some of outcomes investors are considering after President Donald Trump tested positive for Covid-19.Trump’s diagnosis adds another element of uncertainty to a market that’s already been sizing up the potential for a legal battle or political chaos after the Nov. 3 vote. Now, investors are contending with the possibility of Trump’s ill health and how it could affect the U.S. government.“The market move is less about the election and more about the possibility that the U.S. president might become incapacitated,” said David Stubbs, head of markets strategy at J.P. Morgan International Private Bank. “This would inject significant uncertainty into the policy and geo-political outlook. That is a clearly a risk-off event and markets are acting as such.”While markets were broadly lower on Friday, the retreat was calm and orderly. U.S. equity futures slumped 1.6%, with smaller...
(Bloomberg) -- U.S. President Donald Trump said he and First Lady Melania Trump tested positive for Covid-19 shortly after one of his closest aides, Hope Hicks, had fallen ill. U.S. futures slid while the dollar edged higher and Treasuries rose as markets took a risk-off turn.Paris and London are both facing potential new measures to halt the spread of the virus amid rising concerns about infection rates. Germany reported its largest number of new cases since mid-April, while Ukraine and Hungary posted record numbers.Amazon.com Inc. said close to 20,000 of its employees had Covid-19 over almost a six-month period. A $1 billion funding package to help the U.S. Centers for Disease Control and Prevention fight Covid-19 has remained mostly unspent.Key Developments:Global Tracker: Cases pass 34.3 million; deaths exceed 1.02 millionTrump’s age and weight make covid particularly dangerousTrump infection puts large retinue of White House aides at riskHow Russia shortened the Covid...
(Bloomberg) -- European stocks traded modestly lower and U.S. futures fell on Friday after President Donald Trump said he had tested positive for the coronavirus. The dollar edged higher.Trump said both he and First Lady Melania Trump have contracted the virus and will now quarantine themselves, adding to uncertainty in the runup to the U.S. presidential elections next month. While S&P 500 futures fell as much as 2%, they pared their drop throughout the session alongside European stocks as traders assessed how the news would affect both candidates’ chances. The yen and Treasuries, often seen as havens in times of market stress, rose modestly. Crude oil extended losses.In Europe, precious metals miner Centamin plunged as much as 20% after reducing its 2020 production guidance. The pound reversed a loss on news U.K. Prime Minister Boris Johnson will intervene in the Brexit negotiations for the first time since June when he holds...
September has meant volatility with a downward bias in many tech shares like Microsoft (NASDAQ:MSFT). MSFT stock, which ended August at $225.53, is now hovering at $207. That is a decline of about 6%. Yet, despite the recent decline, the shares are up over 31% year-to-date.
Source: The Art of Pics / Shutterstock.com As recent research led by Amit Kramer of University of Illinois highlights, “one of the most observable changes which occurred as a result of the Covid-19 pandemic has been the shift of many employees to work from home arrangements across occupations.” It follows that technology companies that have played a role in helping organizations and employees in the shift to working-from-home have seen their share prices soar.
Strong performance of MSFT stock has been based on robust fundamentals, which I expect to continue in the quarters to come. Therefore, potential shareholders may regard drops in the stock price as opportunity...
Tesla Inc (NASDAQ: TSLA) sales in China, the world's largest electric vehicle market, may fizzle out by 2030, Morgan Stanley (NYSE: MS) analyst Adam Jonas said in an interview with Yahoo Finance.What Happened: The Elon Musk-led company may see its sales drop to zero by the end of next decade, Jonas told Yahoo Finance."We have China sales peaking [in the] middle of the decade and then going down...and then eventually nothing after 2030," the analyst said."Tesla and other OEMs will have to find a solution outside of China because they won't be able to compete in the way they are today."The analyst theorized that the fall in sales in China would be due to future autonomous vehicle systems and the fragile relationship between the United States and China.He said just as it was inconceivable that a Chinese internet of cars autonomous network would be allowed to operate in Boston, similarly, the...
JinkoSolar (NYSE:JKS) reported its now-usual very strong quarterly results. The company’s growth prospects remain very impressive, as does the outlook for the overall solar-energy sector. But different factors have lit a very hot fire under JKS stock and appear to have finally vanquished the short sellers who had kept the shares from climbing much above $28 in the last five years.
Source: Lutsenko_Oleksandr / Shutterstock.com The “smart money”– including the huge investment banks Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS), Bank of America (NYSE:BAC), and Citi (NYSE:C) — have been accumulating JinkoSolar’s shares for a couple of years. The stock started to rally in November 2019, but the surge was cut short in January, likely by the beginning of the novel coronavirus pandemic. Now, enough investors are confident in the stock’s outlook to seize control from the short sellers, who for years had routinely accounted for around 50% of the stock’s daily trading volume.
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