(Bloomberg) -- Once again, when stocks rally, it’s Europe that’s left behind.With the S&P 500 about 30% above its March lows, the Stoxx 600 index has lagged behind with a 21% bounce, despite having fallen more than the U.S. in the global selloff sparked by the coronavirus pandemic.The reason? For starters, there’s the market’s makeup: Europe has a large presence of cyclical sectors, such as banks and energy, which have underperformed during this crisis. On top of that, the region has led the recent wave of dividend cuts by major companies. Investors have also been disappointed by the scale of fiscal and monetary support measures as Europe faces its deepest recession in living memory.The rebound in stocks around the world has been driven by companies with reliable earnings growth and solid balance sheets as investors seek safe havens amid slowdown fears. The U.S. technology sector has emerged as one of the...
The ongoing U.S. travel crisis is causing thousands of job cuts as the aviation sector waits for passengers to return to the skies but braces for years of lower demand because of the coronavirus pandemic. U.S. airlines are slashing hundreds of thousands of flights, cutting schedules by 80% or more through at least June and parking thousands of jets as demand for tickets has plunged by about 95%. Airlines are requiring facial coverings and implementing new cleaning procedures to try to convince passengers it is safe to fly again, but also fear the weakened economy may further drag down demand....
Governments, businesses and individuals are seeking such blood tests, to help them learn more about who may have had the disease, who may have some immunity and to potentially craft strategies to end lockdowns that have battered global economies. Roche had previously pledged to make its antibody test available by early May and to boost production by June to "high double-digit millions" per month. The Basel-based company, which also makes separate molecular tests to identify people with active COVID-19 infections, said its antibody test, Elecsys Anti-SARS-CoV-2, has a specificity rate of about 99.8% and sensitivity rate of 100%....
It’s a bullish start to the day with the majors testing resistance levels early. Failure to break back through early highs could weigh later in the day....
Yahoo Finance Editor-in-chief Andy Serwer, along with others from Yahoo Finance and guest Whitney Tilson, discuss what to expect during Berkshire Hathaway's first-ever virtual shareholder meeting for 2020....
The conglomerate had held sizeable positions in the airlines, including an 11% stake in Delta Air Lines, 10% of American Airlines Co, 10% of Southwest Airlines Co and 9% of United Airlines at the end of 2019, according to its annual report and company filings. Buffett said the airline industry's outlook rapidly changed. Berkshire disclosed on April 3 it had sold about 18% of its Delta stake and 4% of its Southwest shares....
