(Bloomberg) -- Spain reported the fewest number of deaths since March 24 and the pace of new cases slowed in Germany. Italy is seeing a downward trend in cases and may extend the lockdown to early May, while U.K. Prime Minister Boris Johnson was taken out of intensive care.Earlier, European Union finance ministers agreed on a $590 billion package of measures to combat the economic fallout and leaders around the world urged people to abide by restrictions this weekend as confirmed cases reached almost 1.6 million.The U.S. Centers for Disease Control and Prevention extended its “No Sail Order” for all cruise ships by at least 100 days and Boeing Co. is considering a plan to reduce its workforce by about 10%.Key DevelopmentsCoronavirus Tracker: Global Cases 1.6 Million; Deaths 95,808Chinese Leaders Pledge Bigger Role for Markets as Virus HitsHong Kong Edge Over Singapore Shows Early Social Distance WorksAmerica Worships From the Parking...
(Bloomberg) -- The stats border on the ridiculous. On the eve of an earnings season nobody has a clue about, the S&P 500 notches its best week in 46 years. About $4 trillion has been added to share prices, a few weeks after $10 trillion was sheared off.Does it make any sense? To skeptical Wall Street veterans, the answer is obvious: no. While stimulus is flowing and the curve may be flattening, investors are bidding up stocks at a time unemployment may already be 15%, with economists forecasting one of the biggest contractions ever. Only a fool buys equities trading at 40 times the worst estimates for this year’s profits.To all that, a single rebuttal exists. That in the absence of clarity, investors have no choice but to write this year off entirely. No matter how bad the recession gets, markets look forward -- relentlessly. Whatever horrors the world is yet...
Nio (NASDAQ:NIO), called the "Tesla of China," has gotten what amounts to a government bailout. That begs the question: How should investors approach Nio stock now?Source: Sundry Photography / Shutterstock.com In February, the company was close to collapse. Then it got a $435 million loan to keep the lights on. Then it announced March deliveries of 1,533 vehicles, more than twice the previous month.The delivery number put a bid under Nio stock, which shot up 15% on April 6. It has since held much of the gain. Some people think this makes the stock a buy.InvestorPlace - Stock Market News, Stock Advice & Trading TipsI disagree. Nio Got a BailoutChina signaled its intention to keep Nio alive in February, signing a $1.4 billion deal through the government of Hefei. Hefei is the home of JAC Motors, the state-owned car company leading China's electric car efforts.The price of the bailout is that...
Canadian e-commerce company Shopify (NYSE:SHOP) has found itself in an interesting position as the coronavirus pandemic unfolds. Shopify stock is no different. Lockdowns and social distancing are in full force, closing non-essential stores in many areas. Consumers are reluctant to venture out to shop, worried about exposure to COVID-19.Source: justplay1412 / Shutterstock.com All this has resulted in an explosion of business for Amazon (NASDAQ:AMZN). Shopify -- which has been positioning itself as an alternative to Amazon's Marketplace sellers -- isn't seeing the same gains. After a brief bounce in March, Shopify stock is heading down again.At time of writing, SHOP was trading at $381. That's down 30% from Shopify's all-time record highs set in February. Does this mean now is the time to invest?InvestorPlace - Stock Market News, Stock Advice & Trading Tips High Reached Followed Immediately by Coronavirus SelloffObviously 2020 has been a train wreck of a year for most...
