The one and only solution to the coronavirus (COVID-19) pandemic is scientific and it's impossible for businesses to merely "snap their fingers" and expect customers to flock back, Jim Cramer said Tuesday on his daily "Mad Money" show.What Happened The iconic notion of the "only thing to fear is fear itself" can't apply to the current status quo because there are legitimate health reasons to be fearful, Cramer said. Specifically, the world should be concerned with a novel coronavirus with a "disturbingly high" death rate.As such, there is no amount of money the government can pump into the economy that can stimulate the economy until the virus problem is resolved.Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.Why It's Important If baseball season returns back to its normal form, fans will be concerned with attending crowded stadiums, and...
Stock futures rose Wednesday morning after a volatile session the prior day. Investors continued to monitor coronavirus developments, and early reports that the federal government was beginning to consider exit plans to restart businesses closed due to the outbreak across the country....
(Bloomberg) -- On the final day of March, the supertanker Newton, loaded with crude from Saudi Arabia, did something rarely seen in the world of oil trading: it abruptly diverted from its original destination, Egypt, setting sail for the U.S. Gulf Coast instead.The Newton is just part of a flood of Saudi crude that’s headed for the U.S., with oil prices near the lowest levels in almost two decades. And it occurs as President Trump’s administration considers tariffs on imports of oil from OPEC’s largest producer.Saudi crude exports to the U.S. in March jumped to at least 516,000 barrels a day, the highest in a year, according to tanker-tracking data compiled by Bloomberg. So far in April, at least seven supertankers have left Saudi Arabia for America’s Gulf Coast, and another is expected to load in the coming days. Almost all of the vessels are chartered by Bahri, the Saudi national...
(Bloomberg) -- Spain said fatalities and new cases rose to the highest in four days, while European Union finance ministers failed to agree on a recovery plan for the bloc after 16 hours of talks. U.K. Prime Minister Boris Johnson’s condition remains stable and he is not on a ventilator.The number of new infections in Germany rose the most in three days and Belgium had its deadliest day of the outbreak so far. Britain, U.S. and Italy may see virus-related deaths exceed 5,000 in the coming week, according to a forecast by Imperial College London.China relaxed its monthslong lockdown of Wuhan, the city where the pandemic began. Beijing said it would continue to support the World Health Organization after President Donald Trump called the international body “very China centric” and that he’s considering putting a “hold” on U.S. funding.Key Developments:Global cases reach 1.43 million; deaths exceed 82,100: Johns HopkinsBiden says coronavirus...
