Daily Archive: March 5, 2020

Dow up more than 1,000 points on spending, stimulus and Joe Biden’s showing

U.S. stocks surged after Congress agreed to an emergency spending bill to combat the spread of the coronavirus. Bonds continued to rally after the Federal Reserve’s rate cut.

The S&P 500 rose for the second time in three days, taking its rebound from the worst week since the financial crisis to almost 6 per cent, after Congress authorized nearly US$8 billion for virus prevention. Stocks opened higher on speculation other central banks and governments would provide stimulus as the outbreak claimed more lives and new cases piled up. Joe Biden’s surprise surge in Tuesday’s presidential primaries added to bullish sentiment. The equity benchmark is still 7 per cent below its February record.

Stocks tumbled Tuesday after the Fed’s move wasn’t followed by other Group of Seven nations with rate cuts or fiscal stimulus in the face of the virus’s growing threat to the global economy. But equities got a boost

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Japan committed to hosting Olympics on schedule even as virus spreads By Reuters

© Reuters. FILE PHOTO: Women wearing protective face masks, following an outbreak of the coronavirus, walk past countdown clocks for the opening ceremony of the Tokyo 2020 Olympic and The Tokyo Paralympic 2020 at a building in Tokyo

TOKYO (Reuters) – Japan’s Olympics minister said the country is committed to hosting the summer games as planned from July even as the coronavirus outbreak spread to new parts of the country.

“Cancellation or delay of the Games would be unacceptable for the athletes,” Seiko Hashimoto said in parliament on Thursday. “An environment where athletes can feel at ease and focus should be firmly prepared.”

Japan’s western prefecture of Shiga reported its first coronavirus infection on Thursday, a day after the announcement of a first case in the southern prefecture of Miyazaki.

Confirmed coronavirus infections have risen above 1,000 nationwide, with 36 new cases reported Wednesday – the biggest one-day increase to

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Biden’s big Super Tuesday helps the markets get over that nasty virus (for now)

This is the web version of the Bull Sheet, Fortune’s no-BS daily newsletter on the financial markets. Sign up to receive it in your inbox here.

Good evening, Bull Sheeters. This is Fortune finance reporter Rey Mashayekhi, filling in this week for Bernhard Warner. We’re trying something new: To keep you informed on the latest developments in the Asian and U.S. markets, I’ll be sending you a special evening (or, for those of you reading this in Asia, morning) edition of the newsletter. We’ll be back to regular scheduling next week.

Also, be sure to check out Fortune’s new pop-up newsletter, Outbreak, which will keep you up to date on the latest news surrounding the coronavirus outbreak by spotlighting stories from our global team of journalists. Sign up here.

Well, it’s no secret that many in the finance world are skeptical, to say the least, … Read More