Monthly Archive: February 2020

Wall Street loses ground in volatile trading on fears of coronavirus cases in New York

NEW YORK — U.S. stocks lost ground with the S&P falling to session lows in a volatile session on investor jitters on Wednesday over the prospect of coronavirus cases in New York after officials said they were monitoring 83 people who visited China.

While health officials in Nassau County, New York, said they were monitoring people that may have come in contact with the coronavirus, the sell-off appeared to ease a little after Governor Andrew Cuomo said the state has had no confirmed cases so far.

“We need to more information before markets have a further correction or get comfortable things won’t escalate further,” said Jason Draho, head of Americas asset allocation at UBS Global Wealth Management, New York.

He noted that any reports or rumours about cases in large metropolitan areas could have a bigger effect on investor nerves due to the possibility of a faster spreading in a

Read More

Japan’s Olympic cooling plans on thin ice By Reuters

Low on snow: Japan’s Olympic cooling plans on thin ice

By Aaron Sheldrick and Nobuhiro Kubo

NAGANO/TOKYO (Reuters) – A plan to use snow collected in Japan’s mountains to cool 2020 Olympics venues this summer is being stymied by snowfalls on track to be the lowest on record, according to officials involved.

Authorities in Minami-Uonuma in Niigata prefecture north of Tokyo have been trying to collect and store snow to bring by train to Olympic soccer and basketball venues.

The snow will be used to cool buildings and also be handed out in packs to spectators approaching the venues in a project costing about 54 million yen ($490,000).

With temperatures around Tokyo often rising to 40 degrees Celsius (104 degrees Fahrenheit) in summer, organizers are also planning to use mist sprays and water stations to refresh attendees.

Ever since Alexander the Great enjoyed honey and nectar flavored snow in the

Read More

These cities have the most jobs with six-figure salaries

Nationally, less than 7% of the jobs people go to day in and day out have salaries of $100,000 or more. In the San Jose/Sunnyville/Santa Clara part of California, the average is more than 28%.

The Silicon Valley tops a list of the cities with the most six-figure incomes. (Software company Volusion compiled the list using data from the U.S. Bureau of Labor Statistics.)

Given the area’s reputation as a tech hub, that ranking is not especially surprising. Six-figure employment percentages have been roughly the same in that metro area since 2015. But other cities on the list saw notable spikes between 2015 and 2018.

The Washington D.C. area, for instance, which ranked second on the list with 20.9% of the jobs in the six-figure range, saw the number of high-paying gigs surge nearly 38% in that time frame. And the Sacramento, Calif. Area (number 8 on the list) saw … Read More

Stocks plunge, bonds surge after CDC warns Americans to prepare for coronavirus outbreak

U.S. stocks tumbled to an almost 12-week low and bond yields plunged to records on rising concern the coronavirus will upend global supply chains critical to economic growth.

The S&P 500’s four-day rout reached almost 7.6 per cent, with losses accelerating Tuesday after the U.S. Centers for Disease Control and Prevention warned Americans to prepare for a coronavirus outbreak at home. That follows a rapid increase in cases from Italy to Iran and Japan, with a growing list of companies warning that profits will suffer as economies around the world suffer. The S&P, Dow Jones Industrial Average and Nasdaq Composite indexes all set record highs this month.

Wall Street’s three major stock indexes fell 3 per cent as the coronavirus spread further around the world and officials described it as “a rapidly escalating epidemic,” a day after the S&P 500 and the Dow Industrials’ biggest daily decline in two years. 

Read More

Salesforce co-CEO Keith Block steps down, Marc Benioff to be sole chief By Reuters

© Reuters. The company logo for is displayed on the Salesforce Tower in New York

(Reuters) – Inc (N:) said on Tuesday Keith Block has stepped down as co-chief executive officer, making Marc Benioff the sole CEO of the business software company, sending its shares down nearly 3% in extended trading.

Block was widely seen as a potential successor to Benioff, who founded the company in 1999, and will continue as the chairman.

The company has spent more than $16 billion last year for acquisitions, adding muscle to its cloud products as it fends off competition from bigger rivals like Oracle Corp (N:) and German competitor SAP (DE:).

Salesforce forecast first-quarter revenue between $4.88 billion and $4.89 billion, compared with analysts’ estimates of $4.84 billion, according to IBES data from Refinitiv.

The company reported a net loss of $248 million, or 28 cents per share, for the quarter

Read More

Coronavirus announcement from CDC causes stock market to drop another 3% today

© 2019 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy (Your California Privacy Rights).
Fortune may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions:
S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions. | EU Data Subject Requests

Read More