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Economy

“The [Lockdowns] created a new billionaire every 30 hours as millions brace for extreme poverty”

“Oxfam International has a new report out today that highlights the rapidly widening gap between the few ultra-rich and the world’s poorest. The report, titled “Profiting from Pain,” found that during the first two years of the pandemic, a new billionaire was… Continue Reading…

Stocks

“Why Novavax, Vaxart, Sorrento Therapeutics, and Other Coronavirus Stocks Plummeted Today”

“What happened Coronavirus-related stocks declined sharply on Wednesday, extending their losses following Russia’s announcement on Tuesday that it had developed the world’s first COVID-19 vaccine.  As of 11:55 a.m. EDT, shares of Novavax (NASDAQ:NVAX), Heat Biologics (NASDAQ:HTBX), Sorrento Therapeutics (NASDAQ:SRNE), Vaxart (NASDAQ:VXRT), and iBio (NYSEMKT:IBIO) were down 20%, 17%, 15%, 14%,… Continue Reading…

Economy, Stocks

“Russia Registered a Coronavirus Vaccine. The Market Loves It.”

“Russia says it has registered the world’s first vaccine for Covid-19. There are caveats, but an effective vaccine would be great news for the world… Investors want to believe. Europe’s FTSE 100 index gained 1.4%. Asia’s Hang Seng Index rose 2.1%. The Dow Jones Industrial Average and S&P 500 are up 1.2%… Continue Reading…

Economy

“Nearly 39 million have lost jobs in US since virus took hold”

“The number of Americans applying for unemployment benefits in the two months since the coronavirus took hold in the U.S. has swelled to nearly 39 million, the government reported Thursday, even as states from coast to coast gradually reopen their… Continue Reading…

Economy

“New York City Reopens After Covid-19 Lockdown”

“As the nation’s largest city began reopening Monday after more than two months of lockdown, New Yorkers expressed trepidation, relief and optimism about this first step toward getting back to business….” https://www.wsj.com/articles/new-york-city-reopens-after-coronavirus-lockdown-11591628818 I got so caught up in penny stocks… Continue Reading…

Stocks

“Dow soars 700 points for biggest jump in a month, boosted by coronavirus vaccine hope”

“Stocks rallied on Monday, rebounding from losses last week, as news from a Moderna trial stoked optimism about a potential coronavirus vaccine.  The Dow Jones Industrial Average traded 700 points higher, or nearly 3%. The S&P 500 gained 2.5% while the Nasdaq Composite advanced 1.7%… Shares… Continue Reading…

Stocks

“These 19 Big Stocks Raise Their Dividends Despite Coronavirus”

“Nineteen S&P 500 companies upped their dividends during April, including materials company Newmont (NEM), consumer staples firm Costco Wholesale (COST) and information technology giant Apple (AAPL), says S&P Dow Jones Indices. The average dividend hike by these companies is 8.4%. Boosting a dividend might be the… Continue Reading…

Business, Stocks

“GE Stock Falls As Coronavirus Cuts Earnings By Nearly $1 Billion”

“General Electric posted bigger-than-expected drops in earnings and revenue for the first quarter, as the coronavirus hit to global commercial air travel stung key businesses. GE stock fell as cash burn was also slightly worse than the industrial giant forecast.… Continue Reading…

Economy

“U.S. Economy May Have Hit the Coronavirus Bottom”

“As the calendar turns to May, we’re likely to see a slow return of growth for some types of economic activity that were wiped out by the coronavirus shutdowns in March and April. That’s the good news. The bad news… Continue Reading…

Economy

“Record government and corporate debt risks ‘tipping point’ after pandemic passes”

“The United States is embarking on a rapid-fire experiment in borrowing without precedent, as the government and corporations take on trillions of dollars of debt to offset the economic damage from the coronavirus pandemic. The federal government is on its… Continue Reading…