Passport to Wall Street http://www.pws.io/ pl-PL Copyright 2020, Passport to Wall Street 60 Market Update: Beginning of the End for U.S. Record Employment Numbers http://www.pws.io/market-update-beginning-of-the-end-for-us-record-employment-numbers <p class='black-text'>Wall Street concluded Friday's session even lower as more negative economic data from the U.S. Bureau of Labor Statistics demonstrated the warning signs of coming economic devastation amid the still growing coronavirus pandemic. Based on the agency's employment statistics for early March, <a href="https://www.bls.gov/news.release/empsit.nr0.htm">total nonfarm payrolls fell by 701,000 and the unemployment raised to 4.4%</a>. This report reflects data collected only through March 12, before must of the country entered stay-at-home orders and many companies furloughed employees. March is beginning to look like the end of the strong jobs market the United States had maintained during the recent record bull market.</p><p class='black-text'>For the week, The S&P 500 Index and Dow Jones fell over 2% and the Nasdaq dropped by 1.7%, signaling that investors are moving away from coronavirus fears to unemployment level concerns.</p><p class='black-text'><b>Here's how the stock market ended another volatile week: </b></p><p class='black-text'>S&P 500 Index <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SPY"><span style="color:#333">(</span><span style=";">SPY</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SPY" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SPY" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="SPY" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>: -1.51% or -38.25 points to 2,488.65</p><p class='black-text'>Dow Jones Industrial Average <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DIA"><span style="color:#333">(</span><span style=";">DIA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DIA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DIA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DIA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>: -1.69% or -360.91 points to 21,052.53</p><p class='black-text'>Nasdaq Composite Index <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/QQQ"><span style="color:#333">(</span><span style=";">QQQ</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="QQQ" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="QQQ" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="QQQ" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>: -1.53% or -114.23 points to 7,373.08</p><p class='black-text'>In Major Stock News, Tesla <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/TSLA"><span style="color:#333">(</span><span style=";">TSLA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="TSLA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="TSLA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="TSLA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> share rose after the electric car company produced about 88,400 vehicles in the first quarter of 2020, beating expectations of 79,900 vehicles. 3M <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/MMM"><span style="color:#333">(</span><span style=";">MMM</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="MMM" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="MMM" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="MMM" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> was warned on Friday by President Donald Trump to stop exporting respirator masks to countries outside of the United States, but the manufacturing giant retorted that a halt in exporting would lead to less masks available in the United States and harm humanitarian efforts. Google <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GOOGL"><span style="color:#333">(</span><span style=";">GOOGL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GOOGL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GOOGL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GOOGL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> launched a <a href="https://www.google.com/covid19/mobility/">new website</a> that uses anonymous location data collected from Google products to show the level of social distancing taking place in over 131 countries. Bank of America <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BAC"><span style="color:#333">(</span><span style=";">BAC</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BAC" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BAC" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="BAC" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and JPMorgan <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/JPM"><span style="color:#333">(</span><span style=";">JPM</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="JPM" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="JPM" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="JPM" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> begun accepting applications for small business loans on Friday, with Bank of America stating that half way through the day over $6 billion in loans were requested.</p><p class='black-text'>In Stock Sector News, every sector expect Consumer Staples +0.54% posted negative performance on Friday. The losses were as follows: Utilities -3.62%, Materials -2.34%, Financials -2.23%, Communication Services -2.20%, Information Technology -1.65%, Industrials -1.55%, Consumer Discretionary -1.47%, Energy -1.34%, Health Care -0.96% and Real Estate -0.76%.</p><p class='black-text'>In Commodity and Currency News, President Trump vowed on Friday that the U.S. energy sectors will recover from March's steep sell-off. West Texas Intermediate <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/USO"><span style="color:#333">(</span><span style=";">USO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="USO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="USO" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="USO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> soared over 17% and Brent Crude <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BNO"><span style="color:#333">(</span><span style=";">BNO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BNO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BNO" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="BNO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> increased over +16.8%, bringing crude's price per gallon between $29-$35 each. Gold <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GLD"><span style="color:#333">(</span><span style=";">GLD</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GLD" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GLD" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GLD" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> also continues to increase as trading ends for the week, with the metal's price gaining +0.26%. Finally, the U.S. Dollar <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/UUP"><span style="color:#333">(</span><span style=";">UUP</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="UUP" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="UUP" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="UUP" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> ended Friday with the DXY Index increasing +0.57%.</p> http://www.pws.io/market-update-beginning-of-the-end-for-us-record-employment-numbers Fri, 03 Apr 2020 18:13:48 -0400 Rachel Hemple Coronavirus Update: WHO Warns Younger Populations, Google Tracks Social Distancing http://www.pws.io/coronavirus-update-who-warns-younger-populations-google-tracks-social-distancing <p class='black-text'>As almost every country around the world confirms at <a href="https://covid19.pws.io/">least one case of the coronavirus,</a> economists are beginning to illustrate a grimmer picture of the coronavirus fallout for a world that has entered lockdown. During the World Health Organization's press briefing on Friday, Kristalina Georgieva, managing director of the International Monetary Fund issued a bleak address to the suffering member nations.</p><p class='black-text'>"Never in the history of the IMF have we witnessed the world economy come to a standstill. This is in my lifetime humanity's darkest hour, a big threat to the whole world and its requires for us to stand united. Be united...This is a crisis like no other...We have never seen ever such a growing demand for emergency financing," Georgieva <a href="https://www.cnbc.com/2020/04/03/coronavirus-way-worse-than-the-global-financial-crisis-imf-says.html">stated</a>. Georgieva urged countries to use emergency funding to aid their healthcare systems above any other economic need.</p><p class='black-text'>"We are all aware of the profound social and economic consequences of the pandemic," WHO Director-General Dr. Tedros Adhanom Ghebreyesus <a href="https://www.cnbc.com/2020/04/03/who-says-countries-that-rush-to-lift-coronavirus-containment-risk-more-severe-and-prolonged-damage-to-economy.html">added at the same briefing</a>. "Ultimately the best way for countries to end restrictions and ease their economic effects is to attack the virus.</p><p class='black-text'><b>Total Global Cases:</b> Over 1.09 million</p><p class='black-text'><b>Total Deaths: </b>At Least 58,700</p><p class='black-text'><b>Total Recovered:</b> At Least 228,000</p><p class='black-text'><i>Revisions</i></p><p class='black-text'>World Health Organization officials cautioned during the agency's press conference on Friday that more of the younger population is becoming critically ill around the world than earlier data had projected.</p><p class='black-text'>"We are seeing more and more younger individuals who are experiencing severe disease," Dr. Maria Van Kerkhove, head of WHO Emerging Diseases and Zoonosis Unit, stated. " We've seen some data from a number of countries across Europe where people of younger age have died. Some of those individuals have had underlying conditions, but some have not...what we are seeing in some countries is that there are individuals who are in their 30s, who are in their 40s, who are in their 50s, who are in ICU and who have died."</p><p class='black-text'>This data comes inline with reports from New York City's health department that about <a href="https://www1.nyc.gov/site/doh/covid/covid-19-data.page">1 in 5 hospitalization are occurring in people under 44. </a></p><p class='black-text'>Since the outbreak began, officials have cautioned that elderly populations were most at risk of dying from coronavirus. In a interview with <a href="https://www.bloomberg.com/news/articles/2020-04-01/coronavirus-in-young-people-ny-patients-skew-younger-some-die">Bloomberg News</a>, doctor Kaedrea Jackson of Manhattan's Mount Sinai Morningside Hospital stated that, "So many patients are not fitting the picture that we've been told from China or Italy. This is not just elderly patients; it's anyone."</p><p class='black-text'>In addition to officials revising public guidelines surrounding the pandemic, the U.S. Centers for Disease Control and Prevention <a href="https://www.cdc.gov/coronavirus/2019-ncov/prevent-getting-sick/cloth-face-cover.html">now recommends</a> that citizens wear a face covering while in public to help aid in the slowing of the spread of this highly contagious virus.</p><p class='black-text'>The CDC cautioned that this new recommendation does not replace other social distancing measures, but is an additional public measure.</p><p class='black-text'><i>3M Verus Trump</i></p><p class='black-text'>President Donald Trump said on Friday that he will be invoking the Defense Production Act to ban companies from exporting personal protective gear to other countries. This new order came during a dispute between the president and large manufacturer 3M <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/MMM"><span style="color:#333">(</span><span style=";">MMM</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="MMM" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="MMM" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="MMM" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> over the company's exports of respirator masks while the United States scrambles to make more during a shortage.</p><p class='black-text'>However, 3M had warned President Trump that the White House's request for the country to halt exportations could lead to protective gear becoming less available in the United States.</p><p class='black-text'>The manufacturer <a href="https://www.cnbc.com/2020/04/03/coronavirus-3m-tells-trump-halting-exports-would-reduce-number-of-masks.html">warned that</a>, "ceasing all export of respirators produced in the United States would likely cause other countries to retaliate and do the same, as some have already done. It that were to occur, the net number of respirators being made available to the United States would actually decrease. That is the opposite of what we and the Administration, on behalf of the American people, both seek."</p><p class='black-text'><i>Economic Meltdown</i></p><p class='black-text'>Bank of America <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BAC"><span style="color:#333">(</span><span style=";">BAC</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BAC" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BAC" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="BAC" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> was the first major bank that was able to accept application for the $350 billion small business relief program outlined in the Trump administration's CARE Stimulus Bill. In its first day, the bank had received<a href="https://www.cnbc.com/2020/04/03/bank-of-americas-small-business-loan-portal-is-up-making-it-the-first-bank-to-accept-applications.html"> over 85,000 applicants asking for a collective $22.2 billion in loans</a>.</p><p class='black-text'>As more Americans are becoming concerned about their financial future, more disheartening employment data was released by the <a href="https://www.bls.gov/news.release/empsit.nr0.htm">U.S. Bureau of Labor Statistics</a> on Friday.</p><p class='black-text'>According to the jobs report for early March, U.S. nonfarm payrolls dropped by 701,000. Coupled with the almost 10 million Americans that filed for unemployment during the same time period, the first month of the outbreak has casted a bleak outlook on the economy as more and more businesses halt to stop the spread.</p><p class='black-text'><i>Damaged Industry</i></p><p class='black-text'>The U.S. Department of Transportation has <a href="https://www.forbes.com/sites/ericrosen/2020/04/03/us-department-of-transportation-requires-airlines-to-refund-passengers-for-canceled-flights/#35bcd83f3a10">ordered U.S. airlines to give customers full refunds </a>on flights that have been cancelled or severely delayed due to the coronavirus outbreak, adding to the massive load of debt the industry has been compiling since the start of the outbreak.</p><p class='black-text'>"In recognition of the fact that the COVID-19 public health emergency has had major impacts on the airline industry, the Aviation Enforcement Office will exercise its prosecutorial discretion and provide carries an opportunity to become compliant before taking further action."</p><p class='black-text'><i>Surveillance</i></p><p class='black-text'>Google <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GOOGL"><span style="color:#333">(</span><span style=";">GOOGL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GOOGL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GOOGL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GOOGL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> has launched a<a href="https://www.google.com/covid19/mobility/"> new website</a> that uses location data collected from Google products and series to show the level of social distancing taking place around the world.</p><p class='black-text'>Called the COVID-19 Community Mobility Reports, Google's website shows population data trends of six categories: retail and recreation, grocery and pharmacy, parks, transit stations, workplaces, and residential ares. Although users will not have a clear number of people within areas, the data will help users gain a better understanding of the social distancing measures being taken within communities.</p> http://www.pws.io/coronavirus-update-who-warns-younger-populations-google-tracks-social-distancing Fri, 03 Apr 2020 17:58:14 -0400 Rachel Hemple A Darker Tomorrow: The Oil Industry After the Coronavirus Pandemic http://www.pws.io/a-darker-tomorrow-the-oil-industry-after-the-coronavirus-pandemic <p class='black-text'>The global coronavirus pandemic has been a reckoning for the global community in many ways, economically, politically, and so on. Particularly hard hit has been the global oil industry, which is facing a drop in demand and a skyrocketing inventory amid low demand, the likes of which it has never seen. With many different factors coming together to paint a dismal picture of the industry's tomorrow, experts are beginning to speculate that the oil industry may not come out of the pandemic particularly healthy.</p><p class='black-text'>Goldman Sachs <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GS"><span style="color:#333">(</span><span style=";">GS</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GS" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GS" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GS" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> on Monday <a href="https://www.nasdaq.com/articles/goldman%3A-the-oil-industry-will-never-be-the-same-after-coronavirus-2020-03-31">voiced its opinion</a> that the oil industry could be coming out of the coronavirus pandemic far leaner. "Big Oil's will consolidate the best assets in the industry and will shed the worst ... when the industry emerges from this downturn, there will be fewer companies of higher asset quality, but the capital constraints will remain," <a href="https://www.reuters.com/article/us-global-oil-research-goldman/coronavirus-crisis-a-game-changer-for-oil-sector-goldman-sachs-idUSKBN21H197?rpc=401&">Goldman Sachs told Reuters</a>.</p><p class='black-text'>Oil production remains consistent despite the lack of demand from consumers around the world, mainly due to the Saudi-Russian price war, and the <a href="https://www.cnn.com/2020/04/01/business/oil-prices-crash-storage-space/index.html">reluctance of U.S. producers to lessen production</a>. Analysts at Neuberger Berman predicted that this could result in a scenario last seen in 1998, with global oil inventories reaching capacity and driving prices to astronomical new lows. The lack of storage is already creating a problem for some grades of oil, <a href="https://www.cnn.com/2020/04/01/business/oil-prices-crash-storage-space/index.html">which are priced in the negative</a> already. The industry has reached a point where some producers are going to begin paying just to find storage for oil that they are reluctant to cease or cut production of.</p><p class='black-text'>This creates a nightmare scenario for the industry, where demand remains low for months on end as the world waits out the coronavirus. Still, the industry continues to produce oil in an already severely oversaturated market that will soon run out of capacity. Prices will hit astronomical new lows, and any relief that the market could benefit from is far enough down the line that some companies may not survive. Already, the prediction made by Goldman Sachs of a leaner oil sector with fewer companies seems to be coming true as the first of what may be many bankruptcies has been declared. Whiting Petroleum <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/WLL"><span style="color:#333">(</span><span style=";">WLL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="WLL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="WLL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="WLL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, at one point a solid player in the shale oil industry, has <a href="https://www.cnn.com/2020/04/02/business/oil-crash-bankruptcies-whiting/index.html">declared Chapter 11 Bankruptcy</a>. Whiting may just be the first, as many oil companies face the possibility of <a href="https://www.cnn.com/2020/04/02/business/oil-crash-bankruptcies-whiting/index.html">defaulting on their debt</a> with limited abilities to refinance.</p><p class='black-text'>Relief will likely not come soon, even as the proverbial "curve" begins to flatten, and eventually new cases stop altogether, there is no guarantee that consumers will be confident to resume past activities immediately. It is entirely likely that any return to normalcy will be slow and drawn out, which will leave the energy sector contending with full inventories and drastically low prices for far longer than anticipated. Regardless of how quickly relief comes, it is hard to ignore that the oil sector seems set on a path of bankruptcy and a leaner field of competitors post-pandemic.</p> http://www.pws.io/a-darker-tomorrow-the-oil-industry-after-the-coronavirus-pandemic Fri, 03 Apr 2020 15:25:20 -0400 Michael Mooney Some Green Shoots http://www.pws.io/some-green-shoots <p class='black-text'>Given the climate of fear and torrent of negative headlines, it's a useful exercise to study some positive developments. To be clear, these are not enough to offset all the weaknesses and uncertainties. Ultimately, this situation is only going to improve when the underlying disease is dealt with through either vaccination or a means to test, trace, and isolate people who have the disease.</p><p class='black-text'>Therefore, these "green shoots" are quite tenuous and could be trampled at any time.</p><p class='black-text'><i>Infrastructure</i></p><p class='black-text'>Both President Donald Trump and Speaker of the House Nancy Pelosi have expressed interest in a massive infrastructure bill for Phase 4 of the stimulus. The one objection to this is Senate Majority Leader Mitch McConnell who seems adamantly opposed to this at the current time given concerns about debt and deficits. However, this is most likely a simple negotiation posture. After all, he was also opposed to Phase 3 at one time, and it passed with nearly unanimous consent in the Senate.</p><p class='black-text'>The infrastructure stocks are already showing some relative strength to the broader market. For example, Vulcan Materials <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/VMC"><span style="color:#333">(</span><span style=";">VMC</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="VMC" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="VMC" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="VMC" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> is up 40% from its lows. It also formed a higher low on March 23, when the S&P 500 <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SPY"><span style="color:#333">(</span><span style=";">SPY</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SPY" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SPY" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="SPY" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> bottomed. This type of relative strength is evident across a variety of stocks related to infrastructure like US Steel <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/X"><span style="color:#333">(</span><span style=";">X</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="X" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="X" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="X" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Caterpillar <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/CAT"><span style="color:#333">(</span><span style=";">CAT</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="CAT" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="CAT" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="CAT" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, and Evoqua Water <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AQUA"><span style="color:#333">(</span><span style=";">AQUA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AQUA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AQUA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="AQUA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>.</p><p class='black-text'><i>Curve Flattening</i></p><p class='black-text'>Another "green shoot" is that social distancing is working with a 2 to 3 week lag like the experts have been predicting. Hard-hit places like Italy, Washington, and New York City are seeing the growth rate of new cases flattening albeit at a high level, but it does indicate that there is some light at the end of the tunnel. It also shows that our collective action is having real consequences despite the toll it's taking on numerous levels.</p><p class='black-text'>However, this also means that places like Florida, Alabama, and Mississippi which have resisted these aggressive measures could see accelerating case counts in the coming weeks. There's also the grim uncertainty of whether the coronavirus could come raging back when life normalizes especially without proper testing and tracing.</p><p class='black-text'>Other countries that have successfully resisted the first wave of coronavirus through aggressive measures like Singapore, South Korea, and Hong Kong are seeing flare-ups in new case counts. This might mean that social distancing may have to continue for many more months which would hinder a full economic recovery.</p> http://www.pws.io/some-green-shoots Fri, 03 Apr 2020 11:04:55 -0400 Jaimini Desai CARES Act Stimulus Explained http://www.pws.io/cares-act-stimulus-explained <p class='black-text'>The United States Congress passed the <a href="https://www.npr.org/2020/03/26/821457551/whats-inside-the-senate-s-2-trillion-coronavirus-aid-package">Coronavirus Aid, Relief, and Economic Security (CARES) Act</a> last week and President Donald Trump signed it into law, marking the massive third phase of an economic stimulus plan aimed at cushioning Americans and the U.S. economy from the crisis caused by the coronavirus pandemic. The $2.2 trillion law is an amalgamation of various spending provisions. The feature the news media focused on most is the cash payments of $1,200 directly to U.S. citizens who earned less than $75,000.</p><p class='black-text'>The CARES Act extends state unemployment benefit programs an extra 13 weeks to 39 weeks total. In a historic addition, it also makes contractors and gig workers eligible for unemployment benefits of an extra $600 per week for 4 months through the Pandemic Unemployment Assistance program. On public health, the law allocates $100 billion for hospitals dealing with the coronavirus, as well as $11 billion for diagnostics, treatments, and vaccines, $4.3 billion for the Centers for Disease Control, $20 billion for veterans' healthcare, and $16 billion for the Strategic National Stockpile to boost the supply of equipment like masks and ventilators. The CARES Act also bolsters the safety net with $15.5 billion for food stamps, $8.8 billion for school child nutrition programs, $450 million for food banks, and a whopping $339.8 billion for state and local government programs.</p><p class='black-text'>But by far the most controversial and opaque provision of the CARES Act is the so-called <a href="https://time.com/5810315/congress-coronavirus-bailout/">corporate bailout</a>. Congress appropriated at least $360 billion to help struggling small businesses and nonprofits. Most of that funding will go to businesses with up to 500 employees in the form of low-interest loans to pay workers, mortgage interest, and rent. The extra benefit is that small businesses can see their loans forgiven if they keep employees on payroll. But the main bailout is the Treasury Department, overseen by Secretary Steven Mnuchin, will create a fund worth at least $500 billion to loan to businesses and industries hit by the pandemic. The Treasury will also give $46 billion in direct financial assistance, including $25 billion to airlines and $17 billion for national security. Democratic lawmakers fought hard to add oversight provisions to the law, so an appointed Inspector General and Congressional oversight panel will review how Mnuchin doles out the funds. The law also contains language prohibiting businesses controlled by Trump, Vice President Pence, Mnuchin, or heads of executive departments or their family members from receiving the fund's loans.</p><p class='black-text'>Although the CARES Act has already become public law, it will remain politically contentious for months in the future, thanks to the $500 billion corporate bailout provision that makes Mnuchin arguably the country's most powerful Treasury Secretary ever. <a href="https://www.cnbc.com/2020/03/28/trump-pushes-back-against-congressional-oversight-for-500-billion-bailout-fund.html">Trump </a>sparked concerns about separation of powers arose when during the law's signing, he issued a statement arguing he believes the Inspector General who oversees the fund will need his supervision for certain activities like reporting information to Congress. It is unclear whether Trump's interpretation will lead to more lawsuits between Congress and the White House. But Congress will have a lot of work on its plate after the recess, with talks of a fourth phase of relief focused on infrastructure investment.</p> http://www.pws.io/cares-act-stimulus-explained Fri, 03 Apr 2020 10:59:52 -0400 Eric Yao Sony Pushes 2020 Slate to 2021 Due to Coronavirus http://www.pws.io/sony-pushes-2020-slate-to-2021-due-to-coronavirus <p class='black-text'>Even though media, particularly online streaming services, have benefitted largely from the coronavirus, big box movies slated to be screened in theaters and the media companies producing them have been halted by lockdown restrictions preventing consumers from venturing out of their homes.</p><p class='black-text'>In light of this crushing blow to demand for movie theaters, Sony Pictures <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SNE"><span style="color:#333">(</span><span style=";">SNE</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SNE" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SNE" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="SNE" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> has stalled the release of many of its major blockbuster movies such as "Morbius," "Ghostbusters: Afterlife," "Uncharted" and "Peter Rabbit 2," to <a href="https://variety.com/2020/film/news/morbius-ghostbusters-afterlife-uncharted-pushed-back-2021-sony-1203549616/">next year.</a></p><p class='black-text'>More specifically, director Jason Reitman's "Ghostbusters: Afterlife" has <a href="https://variety.com/2020/film/news/morbius-ghostbusters-afterlife-uncharted-pushed-back-2021-sony-1203549616/">moved from July 10, 2020, to March 5, 2021;</a> Jared Leto's "Morbius" has been delayed from July 31, 2020, to March 19, 2021; the video game adaptation "Uncharted" starring Tom Holland moved from March 5, 2021, to Oct. 8, 2021; and "Peter Rabbit 2: The Runaway" was pushed back from Aug. 7, 2020, to Jan. 15, 2021. An untitled Sony and Marvel <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DIS"><span style="color:#333">(</span><span style=";">DIS</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DIS" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DIS" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DIS" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> movie collaboration was also pushed later from an original Oct. 8, 2021 date and is currently undated.</p><p class='black-text'>That being said, there are still some movies that are slated to be displayed during the summer of this year, though this is highly subject to changes. These include <a href="https://www.cnbc.com/2020/03/31/sony-delays-almost-entire-movie-slate-to-2021-amid-coronavirus.html">"Soul" (Disney/Pixar, June 19), "Top Gun: Maverick" (Paramount, June 24), "Tenet" (Warner Bros., July 17), and "Wonder Woman 1984" </a>(Warner Bros., August 14), which moved from June to late summer.</p><p class='black-text'>Note that these titles still may be shuffled around as distribution executives react to the mercurial news surrounding coronavirus. The players at the biggest disadvantage are the ones <a href="https://www.indiewire.com/2020/03/sony-summer-release-slate-morbius-1202221591/">who have movies set to release in the fall/ winter time frame of this year,</a> since it is far away enough that distributions may not take action or delay their release, yet close enough to still be affected by demand fluctuations stemming from the coronavirus.</p><p class='black-text'>Hence, decisively laying claim over a date falling within the next year can be an advantage fueled by foresight. For instance, Universal <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/CMCSA"><span style="color:#333">(</span><span style=";">CMCSA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="CMCSA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="CMCSA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="CMCSA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> is allegedly moving the latest "Fast & Furious" movie <a href="https://www.indiewire.com/2020/03/sony-summer-release-slate-morbius-1202221591/">back one year.</a></p> http://www.pws.io/sony-pushes-2020-slate-to-2021-due-to-coronavirus Fri, 03 Apr 2020 10:36:44 -0400 Tamanna Chhibbar Coronavirus Update: Confirmed Cases Top 1 Million, Javits Center Becomes Hospital http://www.pws.io/coronavirus-update-confirmed-cases-top-1-million-javits-center-becomes-hospital <p class='black-text'>Worldwide confirmed COVID-19 cases <a href="https://covid19.pws.io/">surpassed 1 million on Thursday,</a> doubling in less than a week. The world knew nothing of the novel coronavirus less than five months ago when cases began to surface in Wuhan, China.</p><p class='black-text'>Former U.S. Food and Drug Administration Commissioner Scott Gottlieb <a href="https://www.cnbc.com/2020/04/02/former-fda-chief-scott-gottlieb-coronavirus-drug-needed-by-fall.html">told CNBC </a>that the coronavirus will still be a concern in the fall is there is not an effective drug against it. "If we don't have [a proven treatment], this virus is going to come back in the fall and it's going to continue to shut down parts of out lives," Gottlieb warned. "This is going to circulate in the background. The consumer is not going to bounce back. People are going to be afraid to go out and we're going to continue to see people succumb to this virus."</p><p class='black-text'><b>Total Global Cases: </b>Over 1.01 million</p><p class='black-text'><b>Total Deaths: </b>At Least 52,000</p><p class='black-text'><b>Total Recovered:</b> At Least 212,000</p><p class='black-text'><i>Right on Track</i></p><p class='black-text'>According to the National Institute of Allergy and Infectious Diseases Director Dr. Anthony Fauci, the clinical trials of Moderna's <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/MRNA"><span style="color:#333">(</span><span style=";">MRNA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="MRNA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="MRNA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="MRNA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> COVID-19 vaccine are on track for public distribution, projected for 12to 18 months. The company had begun their first human trials for a vaccine on March 16.</p><p class='black-text'>"It'll take a few months to get the data to where we'll feel confident to go to the phase two...The ultimate solution to a virus that might be coming back would be a vaccine," Dr. Fauci <a href="https://www.cnbc.com/2020/04/01/white-house-advisor-fauci-says-coronavirus-vaccine-trial-is-on-target-and-will-be-ultimate-game-changer.html">stated during a White House press conference</a>. "The same way a vaccine for other diseases that were scourges in the past that now we don't even worry about."</p><p class='black-text'>The FDA approved the first test for coronavirus antibodies for use in the United States on Thursday. All current tests are designed to find signs of the infection in individuals, but a n antibody test made by Cellex Inc. will tell health care workers if a patient has ever been exposed to the virus. This test will initially be important for doctors and nurses to know whether they already have recovered from the virus, and eventually give scientists a better idea of how widespread the outbreak has been.</p><p class='black-text'><i>Political Oversight</i></p><p class='black-text'>Speaker for the Congressional House of Representatives Nancy Pelosi announced on Thursday that she will be <a href="https://www.nbcnews.com/politics/congress/pelosi-forming-house-committee-investigate-coronavirus-outbreak-n1175026">forming a bipartisan House committee</a> to oversee the Trump administration's response to the pandemic and the implementation of stimulus throughout the United States.</p><p class='black-text'>"The committee will be empowered to examine all aspects of the federal response to the coronavirus to ensure that taxpayer dollars are being wisely and efficiently spent to save lives, deliver relief and benefit our economy," Pelosi wrote in a letter to the Democratic Party.</p><p class='black-text'>The establishment of the committee is to manage the government's response proactively, rather than after the crisis is over. During President Donald Trump's daily coronavirus press conference on Thursday, Trump criticized Democrats for opening up an investigation during a crisis.</p><p class='black-text'>"I want to remind everyone here in our nation's capital, especially in Congress, that this is not the tome for politics, endless partisan investigations...It's a witch hunt after witch hunt after witch hunt. And in the end, the people doing the witch hunt they've been losing, and they've been losing by a lot," Trump stated.</p><p class='black-text'><i>New Use</i></p><p class='black-text'>French police stated on Thursday that France will turn a hall in the world's largest food market into a temporary morgue. Currently, more than 5,000 people have died from the epidemic in France, which has led to tensions between hospitals and funeral homes, especially in the Paris region.</p><p class='black-text'>"This location will make it possible to preserve, in conditions that are the most dignified and acceptable from a sanitary standpoint, the caskets of the deceased awaiting burial or cremation, in France or aboard," French police stated. The morgue to expected to begin use on Friday.</p><p class='black-text'>In the United State, New York Governor Andrew Cuomo announced that the Javits Center in Manhattan will be used to treat coronavirus patients. The convention center with transformed over the weekend into a hospital with 1,000 available beds. Currently, more than 1,500 people of died of the coronavirus in New York City.</p><p class='black-text'><i>Lack of Supply </i></p><p class='black-text'>As new research emerges surrounding the ability for the virus to spread before symptoms develop, Majors of both Los Angeles and New York City have asked all their residents to wear face coverings when they go into public spaces. But this protocol reversal is coming during a massive shortage of protective care for health care workers.</p><p class='black-text'>To combat the medical shortage, the Department of Justice and Department of Health and Human Services plan to distribute over 500,000 masks and other personal protective equipment that was confiscated by price gaugers to health care workers in New York and New Jersey. Amazon <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AMZN"><span style="color:#333">(</span><span style=";">AMZN</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AMZN" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AMZN" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="AMZN" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> announced that the online retailer will no longer offer N95 masks to the general public.</p> http://www.pws.io/coronavirus-update-confirmed-cases-top-1-million-javits-center-becomes-hospital Thu, 02 Apr 2020 18:34:31 -0400 Rachel Hemple Walmart Rolls Out New Coronavirus Protections for Employees http://www.pws.io/walmart-rolls-out-new-coronavirus-protections-for-employees <p class='black-text'>Walmart <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/WMT"><span style="color:#333">(</span><span style=";">WMT</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="WMT" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="WMT" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="WMT" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> has set up new guidelines for ensuring the safety of its customers and employees. The retail giant will begin issuing PPE to employees who desire it and will take the temperatures of all employees upon arrival to stores or warehouses.</p><p class='black-text'>Walmart has <a href="https://news.yahoo.com/walmart-begin-temperature-checks-workers-085913059.html">issued infrared thermometers</a> to all its stores and warehouses, which are expected to arrive over the next few weeks. Employees will have their temperature checked before beginning a shift, any employees with a temperature of 100 degrees Fahrenheit or higher will be sent home and asked to remain home until their fever has vanished for three days. Workers will still be paid for showing up, and any workers who catch the coronavirus or have their store closed by authorities will <a href="https://news.yahoo.com/walmart-begin-temperature-checks-workers-085913059.html">receive up to two weeks' pay</a>.</p><p class='black-text'>Walmart has sourced PPE in the form of gloves and high-grade protective masks and will make them available to employees who request them. "They will be high-quality masks, but not N95 respirators - which should be reserved for at-risk healthcare workers," <a href="https://www.cnn.com/2020/03/31/business/walmart-workers-gloves-masks-temperature-checks/index.html">Walmart said of the masks</a>. "If an associate feels more comfortable wearing masks, we want to give them that opportunity to do so."</p><p class='black-text'>Previously, Walmart had joined a slew of other retailers in installing plexiglass safety barriers at checkouts, pharmacy counters, and other areas throughout the store as an added layer of protection for workers.</p><p class='black-text'>Walmart's new safety measures come amid walkouts and strikes by workers for Amazon <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AMZN"><span style="color:#333">(</span><span style=";">AMZN</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AMZN" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AMZN" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="AMZN" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Instacart to secure better protections against the pandemic from their employers as well as a safety net for those who cannot work. Earlier this week, <a href="https://www.pws.io/instacart-workers-go-on-strike-for-coronavirus-protections">Instacart workers started striking</a> despite an attempt by Instacart to appease its workers with hand sanitizer. Similarly, workers at Amazon's Staten Island distribution center walked out for similar reasons. However, Amazon drew immense scrutiny for its firing of one of the strike organizers, which prompted an investigation by authorities. Workers across the country plan more Amazon strikes.</p> http://www.pws.io/walmart-rolls-out-new-coronavirus-protections-for-employees Thu, 02 Apr 2020 16:23:27 -0400 Michael Mooney Luckin Coffee Collapses 75% on Accounting Scandal http://www.pws.io/luckin-coffee-collapses-75-on-accounting-scandal <p class='black-text'>Luckin Coffee <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/LK"><span style="color:#333">(</span><span style=";">LK</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="LK" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="LK" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="LK" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> was down 75% as an internal investigation revealed that the company's COO, Jian Liu had inflated sales for the past year. Previously, Luckin had reported sales of $410 million during the first nine months of the year. It turns out that the figure was inflated by $310 million.</p><p class='black-text'>Before its fall, the company had been a Wall Street growth darling, as it was rapidly growing in China and looked to be on the verge of dethroning Starbucks <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SBUX"><span style="color:#333">(</span><span style=";">SBUX</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SBUX" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SBUX" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="SBUX" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> as that country's dominant coffee retailer.</p><p class='black-text'>The stock issued an IPO in May 2019 around $25. It traded in a range between $25 and $17.5 until November 2019. Between November and mid-January, the stock nearly quadrupled during a period when the stock market was getting increasingly frothy. From those levels, the stock declined more than 50% due to the coronavirus outbreak in China which led to the shuttering of its stores. In recent weeks, the stock displayed relative strength compared to US stocks as China was opening its economy back up.</p><p class='black-text'><i>Shadiness</i></p><p class='black-text'>In hindsight, it's clear that the stock's big rally was based on a fiction. Even before the company's internal investigation, there was a great deal of skepticism about the company's claims of success. Many of these were detailed in a short report by Muddy Waters back in January which alleged that the company had inflated sales figures by 70% and store traffic by 80% and was supported by 11,000 hours of security camera footage.</p><p class='black-text'>The company vigorously fought back against these allegations, but the internal investigation showed that Muddy Waters' analysis was correct. If anything, it didn't quite grasp the full scale of the deceit. In addition to Muddy Waters, there were many posts on social media that questioned Luckin Coffee's numbers based on empty stores and the fact that it opened at 9:30 AM which is unusual for a coffee shop.</p><p class='black-text'><i>Consequences</i></p><p class='black-text'>In one quick swoop, Luckin went from a Starbucks slayer to a rather ordinary, overpriced stock. This will have many consequences including investors being much more skeptical about the financials reported by Chinese companies especially ones that have less than reputable auditors. It will also give more credence to Muddy Waters and their short targets will be taken more seriously.</p><p class='black-text'>Bull markets trade on optimism and greed, while bear markets are dominated by skepticism and fear. In this environment, traders and investors are not going to have less appetite for risk and speculative stocks. There's already several unquantifiable risks and variables in this environment. There will be less tolerance for stocks with shady financials and management teams.</p> http://www.pws.io/luckin-coffee-collapses-75-on-accounting-scandal Thu, 02 Apr 2020 16:16:27 -0400 Jaimini Desai Industry Rises to the Coronavirus Challenge with Ventilator Production http://www.pws.io/industry-rises-to-the-coronavirus-challenge-with-ventilator-production <p class='black-text'>The coronavirus pandemic has had profound effects on the global community, from the global economy teetering on a recession to shortages of essential medical products. In the face of scarcity of ventilators, which are critical in supportive care for severe cases, major companies are pitching in to manufacture ventilators for hospitals throughout the world.</p><p class='black-text'>As a respiratory illness, the coronavirus can leave patients suffering from severe complications that makes it difficult to breathe on their own. The influx of severe cases of coronavirus has caused a global spike in demand for mechanical ventilators, which are necessary for supporting patients until they can recover. A global shortage of ventilators in major hospitals poses a grave threat, especially as many hospitals are already overwhelmed with coronavirus cases. In response to the growing need, many major companies are preparing to begin manufacturing ventilators.</p><p class='black-text'>Dyson, a British technology company well known for its vacuum cleaners and blade-less fans, rose to the occasion, with the company <a href="https://www.cnn.com/2020/03/26/tech/dyson-ventilators-coronavirus/index.html">designing and constructing a prototype ventilator</a> after British Prime Minister Boris Johnson contacted founder James Dyson. <a href="https://www.cnn.com/2020/03/26/tech/dyson-ventilators-coronavirus/index.html">In a letter to employees</a>, James Dyson announced that an order for 10,000 ventilators by the British government. Dyson stated that the ventilators would be ready by early April. Other British companies such as Meggitt <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/MEGGF"><span style="color:#333">(</span><span style=";">MEGGF</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="MEGGF" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="MEGGF" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="MEGGF" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and McLaren are gearing up to provide ventilators as well.</p><p class='black-text'>Meanwhile, in the United States, <a href="https://www.forbes.com/sites/billroberson/2020/03/26/tesla-to-spool-up-ventilator-production-in-new-york-ford-looks-to-reopen-some-factories-in-early-april/">Elon Musk has announced</a> that Tesla <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/TSLA"><span style="color:#333">(</span><span style=";">TSLA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="TSLA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="TSLA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="TSLA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> is working to reopen its New York gigafactory to produce ventilators for the State of New York, which, of states with reported coronavirus cases, has been hit the hardest by the pandemic. "Giga New York will reopen for ventilator production as soon as humanly possible. We will do anything in our power to help the citizens of New York," <a href="https://www.forbes.com/sites/billroberson/2020/03/26/tesla-to-spool-up-ventilator-production-in-new-york-ford-looks-to-reopen-some-factories-in-early-april/">said Musk</a>.</p><p class='black-text'>While Tesla prepares to reopen it's New York Gigafactory, American industry giants Ford Motor Company <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/F"><span style="color:#333">(</span><span style=";">F</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="F" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="F" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="F" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, 3M <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/MMM"><span style="color:#333">(</span><span style=";">MMM</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="MMM" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="MMM" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="MMM" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, and General Electric <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GE"><span style="color:#333">(</span><span style=";">GE</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GE" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GE" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GE" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> are banding together to pool resources and manpower to produce ventilators as well. <a href="https://www.washingtonpost.com/business/2020/03/24/ford-ge-3m-ventilators-coronavirus/">Ford recently sent engineers</a> to meet with GE and 3M staff to discuss plans to increase the production of several existing product lines, including 3M's protective respirators, GE's lines of ventilators, and protective face shields. Ford, 3M, and GE will repurpose existing parts to speed up the manufacturing process and get products into hospitals sooner, such as using parts from Ford's line of pickups and 3M's existing range of air filters.</p><p class='black-text'>In an additional effort to help the medical sector, some groups are looking to publish open-source designs for low-cost, easy-to-manufacture ventilators to enable more groups to be able to join the production effort. A group of researchers at MIT recently unveiled a design that is <a href="https://www.technologyreview.com/s/615374/an-mit-team-hopes-to-publish-open-source-designs-for-a-low-cost-ventilator/">currently undergoing approval</a> by the FDA. The device designed by the researchers, along with others produced by engineers, medical researchers, and ordinary citizens, all use components readily available and commonly found in medical facilities across the country.</p> http://www.pws.io/industry-rises-to-the-coronavirus-challenge-with-ventilator-production Thu, 02 Apr 2020 15:59:22 -0400 Michael Mooney Market Update: Record Unemployment Claims Double Last Week's Numbers, Oil Prices Soar After Trump Tweet http://www.pws.io/market-update-record-unemployment-claims-double-last-weeks-numbers-oil-prices-soar-after-trump-tweet <p class='black-text'>Thursday's session was pretty rocky for stocks, but in the end the broader market pushed higher from Wednesday's sell-off. Investors took into account the recent domestic economic data that shows the underpinnings of a recession as well as more positive relations from countries taking part in the "oil war."</p><p class='black-text'>The U.S. Department of Labor reported a grim new reality in the wake of the coronavirus pandemic as new jobless claims for the week ending March 28 doubled the week previous, posting over 6 million new claims. Adding to the bleak unemployment rate, experts believe that this isn't even the peak of the jobless rate that America is going to see during the coronavirus outbreak as the last states issue stay-at-home orders to their residents. This unprecedented impact on the domestic economy has no rule book, for normal recessions take time for unemployment to peak.</p><p class='black-text'><b>Here's how the market closed after Thursday's session: </b></p><p class='black-text'>S&P 500 Index <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SPY"><span style="color:#333">(</span><span style=";">SPY</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SPY" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SPY" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="SPY" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>: +2.28% or +56.40 points to 2,526.90</p><p class='black-text'>Dow Jones Industrial Average <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DIA"><span style="color:#333">(</span><span style=";">DIA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DIA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DIA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DIA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>: +2.24% or +469.93 points to 21,413.44</p><p class='black-text'>Nasdaq Composite Index <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/QQQ"><span style="color:#333">(</span><span style=";">QQQ</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="QQQ" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="QQQ" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="QQQ" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>: +1.72% or +126.73 points to 7,487.31</p><p class='black-text'>In Major Stock News, leading energy stocks like Chevron <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/CVX"><span style="color:#333">(</span><span style=";">CVX</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="CVX" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="CVX" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="CVX" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Exxon Mobil <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/XOM"><span style="color:#333">(</span><span style=";">XOM</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="XOM" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="XOM" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="XOM" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> soared under oil's rally Thursday. The U.S. listing for the Chinese coffee stock Luckin Coffee <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/LK"><span style="color:#333">(</span><span style=";">LK</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="LK" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="LK" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="LK" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> fell dramatically after an internal investigation revealed that its COO had lied about the company's number of sales in 2019. Walgreens's <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/WBA"><span style="color:#333">(</span><span style=";">WBA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="WBA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="WBA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="WBA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> CFO reported that the pharmacy personal needs retailer's sales were lower in the last week of March as more consumers remain indoors.</p><p class='black-text'>In Stock Sector News, all sectors were bolstered up by the market rally with Energy leading with a performance gain of +9.07%. The rest of the gains are as follows: Utilities +3.15%, Consumer Staples +2.89%, Health Care +2.79%, Financials +2.47%, Information Technology +2.28%, Communication Services +1.82%, Materials +1.50%, Industrials +1.46%, Real Estate +1.34% and Consumer Discretionary +0.35%.</p><p class='black-text'>In Commodity and Currency News, crude prices staged a rally on Thursday after President Donald Trump <a href="https://twitter.com/realDonaldTrump/status/1245720677660925952?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet">tweeted:</a> "Just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia, & I expect & hope that they will be cutting back approximately 10 Million Barrels, and maybe substantially more which, if it happened, will be GREAT for the oil & gas industry!" West Texas Intermediate <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/USO"><span style="color:#333">(</span><span style=";">USO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="USO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="USO" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="USO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shot up over 17% and Brent Crude <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BNO"><span style="color:#333">(</span><span style=";">BNO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BNO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BNO" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="BNO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> soared +16.84%, raising barrel prices between $24-$30 each. Gold <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GLD"><span style="color:#333">(</span><span style=";">GLD</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GLD" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GLD" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GLD" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> also continues to spike, with the metal's price increasing +1.21% on Thursday. Gold's price per ounce still hovers around $1,600. Finally, the U.S. Dollar <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/UUP"><span style="color:#333">(</span><span style=";">UUP</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="UUP" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="UUP" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="UUP" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> gained some strength in current markets, with the DXY Index climbing +0.62%.</p> http://www.pws.io/market-update-record-unemployment-claims-double-last-weeks-numbers-oil-prices-soar-after-trump-tweet Thu, 02 Apr 2020 15:44:29 -0400 Rachel Hemple Microsoft and IBM Endorse the Vatican's Ethical Principles for Artificial Intelligence http://www.pws.io/microsoft-and-ibm-endorse-the-vaticans-ethical-principles-for-artificial-intelligence <p class='black-text'>Microsoft <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/MSFT"><span style="color:#333">(</span><span style=";">MSFT</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="MSFT" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="MSFT" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="MSFT" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and the International Business Machines Corporation (IBM) <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/IBM"><span style="color:#333">(</span><span style=";">IBM</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="IBM" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="IBM" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="IBM" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> have endorsed the Vatican's recent "Rome Call for AI Ethics" document in which the papacy outlined and discussed the need for ethical AI standards, or "<a href="http://www.academyforlife.va/content/dam/pav/documenti%20pdf/2020/CALL%2028%20febbraio/AI%20Rome%20Call%20x%20firma_DEF_DEF_.pdf" target="_blank">algor-ethics</a>," citing the <a href="https://www.un.org/en/universal-declaration-human-rights/" target="_blank">Universal Declaration of Human Rights</a> (UDHR).</p><p class='black-text'>With regard to algorithms governing artificial intelligence, facial recognition software, and the healthy progress of modern technological advancements, the "algor-ethical" principles include: transparency, inclusion, responsibility, impartiality, reliability, security, and privacy.</p><p class='black-text'>Speaking in a separate message concerning the document, and continuing to call for regulation guided by ethical principles, Pope Francis made it clear that he's concerned about the future of humanity should artificial intelligence not be harnessed and controlled within clear universal, ethical guidelines.</p><p class='black-text'>"This asymmetry, by which a select few know everything about us while we know nothing about them, <a href="https://venturebeat.com/2020/02/28/pope-francis-joins-ibm-and-microsoft-in-call-for-ai-regulation/" target="_blank">dulls critical thought and the conscious exercise of freedom</a>," he said.</p><p class='black-text'>In the "Rome Call for AI Ethics" document, which Microsoft and IBM have both strongly endorsed, the Vatican called for tighter regulation based on secure ethical standards that maintain human rights in light of advanced technology.</p><p class='black-text'>"New forms of<a href="https://www.reuters.com/article/us-vatican-artificial-intelligence/pope-to-endorse-principles-on-ai-ethics-with-microsoft-ibm-idUSKCN20M0Z1" target="_blank"> regulation must be encouraged to promote transparency and compliance with ethical principles</a>, especially for advanced technologies that have a higher risk of impacting human rights, such as facial recognition," the document said.</p><p class='black-text'>According to Microsoft and IBM, neither company has been willing to do business with customers who desired to use their technology in ways that made them uncomfortable. Both have <a href="https://venturebeat.com/2020/02/28/pope-francis-joins-ibm-and-microsoft-in-call-for-ai-regulation/" target="_blank">turned down potentially harmful business</a>, especially when it comes to AI.</p><p class='black-text'>In addition, Elon Musk, CEO of Tesla <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/TSLA"><span style="color:#333">(</span><span style=";">TSLA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="TSLA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="TSLA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="TSLA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, and Alphabet <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GOOGL"><span style="color:#333">(</span><span style=";">GOOGL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GOOGL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GOOGL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GOOGL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> CEO Sundar Pichai have both spoken publicly in support of regulating artificial intelligence. AI Now and Open AI are among various AI ethical groups to also support strong ethical standards in the development and application of artificial intelligence technologies moving forward.</p> http://www.pws.io/microsoft-and-ibm-endorse-the-vaticans-ethical-principles-for-artificial-intelligence Thu, 02 Apr 2020 10:09:56 -0400 Rebecca O'Bern Starbucks Expands Mental Health Benefits For All Employees http://www.pws.io/starbucks-expands-mental-health-benefits-for-all-employees <p class='black-text'>All employees of Starbucks <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SBUX"><span style="color:#333">(</span><span style=";">SBUX</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SBUX" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SBUX" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="SBUX" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> will soon be eligible for 20 free therapy sessions per year through Lyra Health, a partnered mental health care provider. The Seattle-based coffee chain, which has over 24,000 stores worldwide, will make this possible for full-time and part-time workers. As of April 6, Starbucks will begin offering the mental health benefits to all U.S.-based employees.</p><p class='black-text'>When it comes to eligibility for part-time employees (or "partners," as Starbucks refers to all its employees), benefits will become available after these workers log "<a href="https://globalassets.starbucks.com/assets/d92383f7c65c474bb2e3f6b7d0219d68.pdf" target="_blank">at least 240 total hours over a three-consecutive-month-period</a>," which comes to roughly 20 hours per week.</p><p class='black-text'>The company made the decision to expand mental health benefits following survey feedback received from approximately 200,000 employees.</p><p class='black-text'>"Partners were saying that <a href="https://www.fastcompany.com/90476917/starbucks-employees-in-the-u-s-can-get-up-to-20-therapy-sessions" target="_blank">there's more we could do as a company to help</a> them around the topic of mental health and well being," said Starbucks CEO Kevin Johnson to Fast Company. "As a leadership team, we said, 'Let's figure out what we can do.'"</p><p class='black-text'>According to the National Alliance on Mental Illness, <a href="https://www.fastcompany.com/90476917/starbucks-employees-in-the-u-s-can-get-up-to-20-therapy-sessions" target="_blank">20% of adults in the U.S. will experience a mental illness each year</a>, while only 40% of those individuals will receive treatment. Considering that as much as $1 trillion is lost each year due to decreased worker productivity related to depression and anxiety, two of the leading mental illnesses, the cost to businesses may end up being too great not to act in support of mental health.</p><p class='black-text'>"We are constantly listening to our partners and exploring new ways to enhance the innovative benefits we offer to support them and their families," Johnson said in a statement. "Mental health is a fundamental part of our humanity and <a href="https://www.forbes.com/sites/ruthumoh/2020/03/16/starbucks-expands-mental-health-benefits-offers-therapy-to-all-us-workers/#69eb475a7698" target="_blank">these resources will make a meaningful difference in people's lives</a> and help break the stigma around this complex issue."</p><p class='black-text'>In addition to expanding mental health care benefits, Starbucks has an online forum where over 5,000 Starbucks employees contribute to conversations related to mental health. The company also offers employees free subscriptions to the meditation-themed smartphone app Headspace and has partnered with the veteran-focused Team Rubicon and Lady Gaga's nonprofit Born This Way Foundation in support of worker mental health and quality of life.</p> http://www.pws.io/starbucks-expands-mental-health-benefits-for-all-employees Thu, 02 Apr 2020 10:07:42 -0400 Rebecca O'Bern Coronavirus Update: WHO Expresses Grave Concerns Due to Global Virus Escalations http://www.pws.io/coronavirus-update-who-expresses-grave-concerns-due-to-global-virus-escalations <p class='black-text'>The World Health Organization officials expressed their concern about the escalation of confirmed COVID-19 cases during their press conference on Wednesday. As the global infections total is <a href="https://covid19.pws.io/">projected to reach 1 million </a>by the end of the week, WHO Director-General Dr. Tedros Adhanom had this to <a href="https://www.cnbc.com/2020/04/01/global-coronavirus-cases-will-hit-1-million-and-50000-deaths-in-a-few-days-who-officials-say.html">say to member nations</a>:</p><p class='black-text'>"Over the past five weeks, we have witnessed a near exponential growth in the number of new cases, reaching almost every country, territory and area. Three months ago we knew almost nothing about this virus...This is a pandemic for the first time caused by a coronavirus and whose behavior is not really known and we have to stand in unison to find this very dangerous virus."</p><p class='black-text'><b>Total Global Cases:</b> Over 934,000</p><p class='black-text'><b>Total Deaths:</b> At Least 46,000</p><p class='black-text'><b>Total Recovered:</b> At Least 193,000</p><p class='black-text'><i>Broken Boundaries </i></p><p class='black-text'>As more nations restrict borders and halt travel, something unprecedented is happening in the scientific space. The word unprecedented is being used a lot in recent time, but the <a href="https://www.nytimes.com/2020/04/01/world/europe/coronavirus-science-research-cooperation.html">global collaboration for the study of COVID-19</a> defines all meaning of the word. Never before have researchers around the world focused on one subject simultaneously and with such urgency, throwing all other research to the side for the time being as the world experts search for a cure to COVID-19. Currently, more than 200 clinical trails have begun to test various treatments and therapies for the pandemic, with experts around the globe freely sharing information with one another as the world waits.</p><p class='black-text'><i>Economic Terrorism</i></p><p class='black-text'>The Iranian government has asked the United States to lift the trade sanctions in place, claiming that they are costing Iranian lives and should be lifted on humanitarian grounds.</p><p class='black-text'>"We have always said the sanctions are unjust but coronavirus revealed this injustice to the world," Foreign Minister Javad Zarif <a href="https://www.nytimes.com/2020/04/01/world/middleeast/iran-virus-sanctions.html">said in a recent video message</a>. Zarif saw these sanctions as "economic terrorism."</p><p class='black-text'>Aside from Iran's allies like Russia and China, others including the European Union and dozens of Congress members have been calling for the Trump administration to suspend trade sanctions for the time being.</p><p class='black-text'><i>Insurance Fears</i></p><p class='black-text'>The Trump administration confirmed on Wednesday that the federal government will not be reopening the Affordable Care Act's marketplace to new customers, amid large-scale unemployment and growing concern from uninsured Americans. The reopening of the marketplace to new customers would make it easier for those recently uninsured to obtain health insurance without requiring proof of lack of coverage. This is an action that the federal and state governments have taken in the past during natural disasters. Currently, only a few states have extended the enrollment period for residents in need.</p><p class='black-text'>Health insurance for all American citizens is needed now more than ever as hospital bills for the treatment of COVID-19 could cost Americans tens of thousands of dollars without proper insurance. According to a <a href="https://s3.amazonaws.com/media2.fairhealth.org/brief/asset/COVID-19%20-%20The%20Projected%20Economic%20Impact%20of%20the%20COVID-19%20Pandemic%20on%20the%20US%20Healthcare%20System.pdf">statical analysis by independent nonprofit FAIR Health</a>, those who are hospitalized out-of-network or without insurance can expect to pay between $42,000-$74,000 for the cost of their treatment.</p><p class='black-text'><i>Economic Impact</i></p><p class='black-text'>The early recession signs for the United States have already begun to crop up on monthly statistical data.</p><p class='black-text'>According to a report from ADP and Moody's Analytics, private payrolls fell less than expected in March, with <a href="http://www.adpemploymentreport.com/2020/March/NER/docs/ADP-NATIONAL-EMPLOYMENT-REPORT-March2020-Final-Press-Release.pdf">headline payrolls declining by 27,000</a>. The report only has data for the period before March 12, which was before the worst of the coronavirus economic closures. Losses for the month are predicted to be far worse than the early data indicates, due to the millions of citizens who have already filed for unemployment benefits.</p><p class='black-text'>Not surprisingly, U.S. manufacturing activity contracted in March due to the coronavirus containment measures. According to the I<a href="https://www.instituteforsupplymanagement.org/ismreport/mfgrob.cfm?SSO=1">nstitute for Supply Management's March manufacturing purchasing managers' index</a>, domestic manufacturing fell to 49.1 in March from 50.1 in February.</p><p class='black-text'>"The coronavirus pandemic and shocks in global energy markets have impacted all manufacturing sectors," said chair of the ISM Timothy Fiore in the report.</p><p class='black-text'><i>Virus Tracking</i></p><p class='black-text'>Mt. Sinai Health, a hospital system in New York City, has<a href="https://www.nbcnewyork.com/news/local/mount-sinai-launches-new-app-to-track-covid-19-in-nyc-asks-all-new-yorkers-to-help/2354621/"> launched an app on Wednesday</a> that will help track the outbreak within the city. Through the app STOP COVID NYC, the hospital's patients and city residents will be able to monitor their symptoms and health officials will be able to see a clearer scope of the spread.</p><p class='black-text'>NYC residents can sign up for the app by testing "COVID" to 64722. The app asks initial users survey questions about their demographic, exposure to the virus and symptom history. The app will then prompt the user with daily surveys through text messages.</p> http://www.pws.io/coronavirus-update-who-expresses-grave-concerns-due-to-global-virus-escalations Wed, 01 Apr 2020 19:08:14 -0400 Rachel Hemple Market Update: Stocks Fall, IMF Calls for Wartime Efforts from Governments http://www.pws.io/market-update-stocks-fall-imf-calls-for-wartime-efforts-from-governments <p class='black-text'>Wall Street started the second quarter of 2020 with steep losses as the Dow Jones Industrial Average dropped over 900 points and the S&P 500 and Nasdaq fell over 4% each. Investors entered the market on Wednesday with the sentiment that the next two weeks were going to be extremely painful for the United States due to the coronavirus outbreak.</p><p class='black-text'>The International Monetary Fund warned world leaders on Wednesday that their approach to the pandemic should be as if they were facing a war. The international financial institution urged governments to provide key supplies to their health care sectors, cash transfers to the now unemployed and support like wage subsidies to private companies.</p><p class='black-text'>"If policies ensure that workers do not lose their jobs, renters and homeowners are not evicted, companies avoid bankruptcy, and business and trade networks are preserved, the recovery will occur sooner and more smoothly," IMF <a href="https://www.cnbc.com/2020/04/01/imf-says-coronavirus-crisis-requires-wartime-policy-response.html">wrote in a blog post</a>.</p><p class='black-text'><b>Here's how the market settled for the mid-week: </b></p><p class='black-text'>S&P 500 Index <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SPY"><span style="color:#333">(</span><span style=";">SPY</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SPY" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SPY" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="SPY" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>: -4.41% or -114.9 points to 2,470.5</p><p class='black-text'>Dow Jones Industrial Average <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DIA"><span style="color:#333">(</span><span style=";">DIA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DIA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DIA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DIA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>: -4.44% or -973.65 points to 20,943.51</p><p class='black-text'>Nasdaq Composite Index <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/QQQ"><span style="color:#333">(</span><span style=";">QQQ</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="QQQ" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="QQQ" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="QQQ" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>: -4.41% or -339.52 points to 7,360.58</p><p class='black-text'>In Major Stock News, Macy's <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/M"><span style="color:#333">(</span><span style=";">M</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="M" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="M" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="M" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> stock fell on Wednesday after S&P Dow Jones Indices announced that the major retailer will be <a href="https://www.cnbc.com/2020/03/31/macys-to-be-replaced-on-sp-500-by-carrier-global.html">removed from the S&P 500 Index and replaced</a> by Carrier Global <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/CARR"><span style="color:#333">(</span><span style=";">CARR</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="CARR" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="CARR" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="CARR" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>. Shares of major American airlines--Alaska <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/ALK"><span style="color:#333">(</span><span style=";">ALK</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="ALK" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="ALK" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="ALK" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, American <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AAL"><span style="color:#333">(</span><span style=";">AAL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AAL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AAL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="AAL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Delta <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DAL"><span style="color:#333">(</span><span style=";">DAL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DAL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DAL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DAL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Southwest <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/LUV"><span style="color:#333">(</span><span style=";">LUV</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="LUV" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="LUV" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="LUV" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and United <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/UAL"><span style="color:#333">(</span><span style=";">UAL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="UAL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="UAL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="UAL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>--all fell into a deeper sell-off on Wednesday as travel stocks continue to decline amid the pandemic. The merger between T-Mobile <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/TMUS"><span style="color:#333">(</span><span style=";">TMUS</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="TMUS" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="TMUS" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="TMUS" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Sprint officially closed Wednesday morning, bumping up the telecomm's stock.</p><p class='black-text'>In Stock Sector News, all sectors fell into negative territory on Wednesday. The negative performance decline amid the sell-off was as follows: Utilities -6.12%, Real Estate -6.11%, Financials -5.97%, Information Technology -4.71%, Energy -4.64%, Materials -4.59%, Industrials -4.58%, Consumer Discretionary -3.97%, Communication Services -3.93%, Health Care -3.86% and Consumer Staples -1.83%.</p><p class='black-text'>In Commodity and Currency News, oil prices rose on Wednesday as President Donald Trump met with industry leaders to discuss how the administration can supply aid. West Texas Intermediate <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/USO"><span style="color:#333">(</span><span style=";">USO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="USO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="USO" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="USO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> rose over +5% and Brent Crude <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BNO"><span style="color:#333">(</span><span style=";">BNO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BNO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BNO" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="BNO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> soared above +12% to bring barrel prices to $21-$26 each. Gold's <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GLD"><span style="color:#333">(</span><span style=";">GLD</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GLD" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GLD" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GLD" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> price also increased as investors push back into safer commodities, with the metal's ounce price gaining +1.53%. Finally, the U.S. Dollar <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/UUP"><span style="color:#333">(</span><span style=";">UUP</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="UUP" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="UUP" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="UUP" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> gained as the week starts to close, with the DXY Index increasing +0.57%.</p> http://www.pws.io/market-update-stocks-fall-imf-calls-for-wartime-efforts-from-governments Wed, 01 Apr 2020 17:49:02 -0400 Rachel Hemple ETF Weekly: Video Game ETFs Outperform Broader Market http://www.pws.io/etf-weekly-video-game-etfs-outperform-broader-market <p class='black-text'>March was a pretty rough month for Wall Street due to the wide volatile swings stocks took as the coronavirus infected the market. The Dow Jones Industrial Average <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DIA"><span style="color:#333">(</span><span style=";">DIA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DIA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DIA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DIA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and the S&P 500 Index <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SPY"><span style="color:#333">(</span><span style=";">SPY</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SPY" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SPY" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="SPY" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> both recorded their worst first quarter performance in history, down 23% and 20% respectively. Investors have begun to look for signs of an economic restart as key industries and supply chains extend their shutdowns.</p><p class='black-text'>Semiconductors like <b>VanEck Vectors Semiconductor ETF</b> <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SMH"><span style="color:#333">(</span><span style=";">SMH</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SMH" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SMH" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="SMH" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and <b>iShares PHLX Semiconductor ETF</b> <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SOXX"><span style="color:#333">(</span><span style=";">SOXX</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SOXX" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SOXX" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="SOXX" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> have both declined heavily during the first quarter as many companies have halted productions around the world. Investors are looking for a rebound from chips and semis because that will be one of the first signs of market recovery due to their prevalence across diverse number of supply chains.</p><p class='black-text'>Oil is also an indicator of the boarder economy, due to the commodity's importance in trade. Typically, investors use the popular <b>United States Oil Fund </b><nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/USO"><span style="color:#333">(</span><span style=";">USO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="USO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="USO" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="USO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> to bet on short-term prices; market participants will buy oil during price dips and sell oil during rallies. But a Bloomberg report cautioned that this regular market move will led to a lot of investors getting burned by the ETF. The report found that around <a href="https://www.bloomberg.com/news/articles/2020-03-30/oil-etf-seen-as-tourist-trap-with-crude-trading-in-the-20s">$1.8 billion flowed into USO over the last three weeks</a>, which is the biggest consecutive weekly inflows for the fund on record. With oversupply and lower demand of the commodity around the global, the U.S. benchmark is now more than 60% lower since January. This is not the time to be pouring more money into the fund, for the bottom has yet to be reached.</p><p class='black-text'>Despite the rough market climate, the gaming industry and its related Exchange-Traded Funds have been outperforming the market in the first quarter. This relative strength has been brought on by a few measures: much of the world's population in under some type of lockdown and video games being a cheaper form of entertainment. <b>VanEck's Gaming and Esports ETF</b> <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/ESPO"><span style="color:#333">(</span><span style=";">ESPO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="ESPO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="ESPO" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="ESPO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> is currently up more than 2% this week and has grown over 18% for the year so far. <b>ETFMG Video Game Tech ETF</b> <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GAMR"><span style="color:#333">(</span><span style=";">GAMR</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GAMR" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GAMR" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GAMR" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> has also posted gains for the week and is only down about 7% for the quarter, still outperforming the broader market. Other outperformers include <b>Global X Video Games & Esports ETF</b> <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/HERO"><span style="color:#333">(</span><span style=";">HERO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="HERO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="HERO" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="HERO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and <b>Roundhill BITKRAFT Esports & Digital Entertainment ETF</b> <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/NERD"><span style="color:#333">(</span><span style=";">NERD</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="NERD" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="NERD" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="NERD" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>.</p> http://www.pws.io/etf-weekly-video-game-etfs-outperform-broader-market Wed, 01 Apr 2020 14:11:07 -0400 Rachel Hemple Instacart Workers go on Strike for Coronavirus Protections http://www.pws.io/instacart-workers-go-on-strike-for-coronavirus-protections <p class='black-text'>After a deadline passed with no action from Instacart, workers for the San Francisco based shopping and delivery company have gone on a nationwide strike for better protections against the coronavirus, or COVID-19, and better compensation.</p><p class='black-text'>In a <a href="https://medium.com/@GigWorkersCollective/instacart-emergency-walk-off-ebdf11b6995a">blog post published on Medium</a> Instacart workers, acting through the Gig Workers Collective, a nascent labor organization for gig workers, announced their intention to strike on Monday unless their demands were met. The four demands listed on the blog post were PPE for all workers at no cost, hazard pay, an extension and expansion to the benefits available to workers affected by the disease, and an extension to the deadline for said benefits.</p><p class='black-text'>Instacart <a href="https://www.local10.com/news/local/2020/03/30/workers-say-instacart-isnt-investing-in-safety-during-coronavirus-pandemic/">attempted to hand concessions</a> to the collective to negate the walkout, offering a change to the default tip amount for workers and offering company-sourced hand sanitizer free of cost. The <a href="https://www.engadget.com/2020-03-30-instacart-workers-go-on-strike-despite-concessions.html">Collective's response on Medium</a> to Instacart's offering was frank. Particularly frank was the response to the company's offering of hand sanitizer, with the <a href="https://www.engadget.com/2020-03-30-instacart-workers-go-on-strike-despite-concessions.html">Collective stating</a> "We had been asking for hand sanitizer for many, many weeks. But apparently the company is capable of sourcing some with 2 days of work? Where was this before? Where were these efforts back when Shoppers first began asking for it?" The response ended with a confirmation that the strike was still on, and a message for the strikers to stay safe amid the outbreak.</p><p class='black-text'>The strike comes amid a massive spike in traffic to Instacart, a result of the social distancing and shelter-in-place mandates being enacted by many state governments and the federal government. The surge in orders for Instacart has resulted in a mass-hiring by the company, with Instacart stating it <a href="https://www.engadget.com/2020-03-30-instacart-workers-go-on-strike-despite-concessions.html">intends to hire 300,000 more workers</a> over the next few months. The surge in demand for Instacart has likewise resulted in a spike in work volume and hours for workers.</p><p class='black-text'>The chief complaint of Instacart workers is that despite the spike in demand and increased profits for the company, there has been no action taken to protect workers despite the inherent risk they face at work due to the rapidly spreading coronavirus. Workers began to feel as if they were being exploited and were putting themselves at an unnecessary level of risk. While many of the stores Instacart offers its services in have taken actions to protect their employees, Instacart has yet to institute any measures aside from its offering of hand sanitizer in response to the strike.</p> http://www.pws.io/instacart-workers-go-on-strike-for-coronavirus-protections Wed, 01 Apr 2020 12:24:52 -0400 Michael Mooney Tech Giants Spending Record Amounts on Lobbying http://www.pws.io/tech-giants-spending-record-amounts-on-lobbying <p class='black-text'>Big tech companies spent nearly half a billion on lobbying over the past decade, including record amounts in political spending by the so-called <a href="https://www.marketwatch.com/story/facebook-amazon-and-apple-set-records-in-annual-spending-on-lobbying-2020-01-22" target="_blank">FAANG companies</a>: Facebook <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/FB"><span style="color:#333">(</span><span style=";">FB</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="FB" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="FB" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="FB" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Amazon <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AMZN"><span style="color:#333">(</span><span style=";">AMZN</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AMZN" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AMZN" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="AMZN" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Apple <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AAPL"><span style="color:#333">(</span><span style=";">AAPL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AAPL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AAPL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="AAPL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Netflix <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/NFLX"><span style="color:#333">(</span><span style=";">NFLX</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="NFLX" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="NFLX" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="NFLX" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, and Google <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GOOGL"><span style="color:#333">(</span><span style=";">GOOGL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GOOGL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GOOGL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GOOGL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>.</p><p class='black-text'><b>Facebook</b> spent $16.7 million on lobbying last year, a record amount for the company. The year before, they spent $12.6 million. Between 2010-2019, the social media giant spent nearly $81 million on lobbying. Like Facebook, <b>Amazon</b> spent more last year than the year before, a record $16.1 million up from $14.4 million. <b>Apple</b> spent $7.4 million last year on lobbying, which was more than its $6.7 million in 2018. Out of all the FAANG companies, <b>Netflix</b> spent the least on lobbying. Back in 2015, Netflix spent $1.3 million, but they've decreased that spending over the years. Last year, Netflix spent just $850,000 on lobbying, up from $800,000 the year before. <b>Google </b>by far led the charge in lobbying over the past decade at $150 million. Last year alone, Google spent $11.8 million, less than in previous years.</p><p class='black-text'>Because FAANG holds incredible power in part due to sheer size, the companies' volume of influence is something Congress and other political bodies have been trying to monitor closely and regulate within reason. Harsher scrutiny under the political eye has become apparent since 2016 following Russian interference in U.S. elections, leading to the federal government paying closer attention to signs of FAANG's possible antitrust, monopolization behavior.</p><p class='black-text'>"These companies, because they are so large, have tremendous economic power and tremendous political power," said Rep. David N. Cicilline, a democratic representative of Rhode Island. "And they're <a href="https://www.washingtonpost.com/technology/2020/01/22/amazon-facebook-google-lobbying-2019/" target="_blank">spending hundreds of millions of dollars to try to protect the status quo</a>."</p><p class='black-text'>Cicilline is leading a House antitrust investigation of big tech. In addition to congressional inquiries, the Justice Department and Federal Trade Commission (FTC) are also actively pursuing antitrust investigations into big tech companies.</p> http://www.pws.io/tech-giants-spending-record-amounts-on-lobbying Wed, 01 Apr 2020 12:17:31 -0400 Rebecca O'Bern Coronavirus Update: Officials Estimate at least 100,000 Americans Will Die from COVID-19 http://www.pws.io/coronavirus-update-officials-estimate-at-least-100000-americans-will-die-from-covid-19 <p class='black-text'>The White House issued new data on Tuesday that shows the bleak future ahead for the country with the most confirmed cases on COVID-19. Dr. Deborah Birx, the White House's coronavirus response coordinator, presented the public with a few charts that show the predicted spread of the outbreak as well as the anticipated deaths. Officials are now projecting that there will be 100,000-240,000 American deaths over the next few months if every state follows the social distancing guidelines perfectly.</p><p class='black-text'>President Donald Trump prepared Americans for a coming surge in coronavirus cases, and <a href="https://www.cnbc.com/2020/03/31/trump-says-the-coronavirus-surge-is-coming-its-going-to-be-a-very-very-painful-two-weeks.html">saying the U.S. is about to face a </a>"very, very painful two weeks...when you look at night, the kind of death that has been caused by this invisible enemy, its incredible."</p><p class='black-text'><b>Total Global Cases: </b>Over<a href="https://covid19.pws.io/"> 855,000</a></p><p class='black-text'><b>Total Deaths:</b> At Least 42,000</p><p class='black-text'><b>Total Recovered:</b> At Least 176,000</p><p class='black-text'><i>Overwhelmed Health Care </i></p><p class='black-text'>The European University Hospital Alliance, which includes prominent European health care systems and universities, called for more urgent European collaboration to prevent drug shortages on Tuesday.</p><p class='black-text'>The Alliance states that the lockdown of borders as well as export bans have halted distribution lines and are beginning to cause shortages of much needed medicines like painkillers.</p><p class='black-text'>"In the absence of European collaboration to ensure a steady supply of these drugs, front-line Covid hospital may no longer be able to provide adequate intensive care in one to two weeks from now," the Alliance <a href="http://www.euhalliance.eu/2020/03/31/university-hospitals-urgently-call-for-more-european-collaboration-to-prevent-drug-shortages/">warned in a statement</a>.</p><p class='black-text'>Across the Atlantic Ocean, the U.S. Federal Emergency Management Agency is sending 250 ambulances, around 500 EMTs and paramedics and 85 refrigerated trucks to New York City to brace for the coming apex of the spread.</p><p class='black-text'>"I'm tired or being behind this virus. We've been behind this virus from day one," New York Governor Andrew Cuomo lamented during a press conference. "We underestimated this virus. It's more powerful, it's more dangerous than we expected."</p><p class='black-text'><i>Privacy Concerns</i></p><p class='black-text'>As many nations, especially in the West, grapple with outbreak containment at the cost of infringing on democracy, the European Union's European Commission President Ursula von der Leyen warned member stated that emergency measures cannot undercut civil liberties.</p><p class='black-text'>"It is of utmost importance that emergency measures are not at the expense of our fundamental principles and values...Any emergency measures must be limited to what is necessary and strictly proportionate. They must not last indefinitely...governments must make sure that such measures are subject to regular scrutiny."</p><p class='black-text'><i>Changes in Regulation </i></p><p class='black-text'>The U.S. Centers for Disease Control and Prevention is currently reconsidering its guidance on the public wearing masks as new data demonstrates that many individuals who show no symptoms are able to infect others with the virus.</p><p class='black-text'>Director of the CDC Dr. Robert Redfield <a href="https://www.npr.org/sections/health-shots/2020/03/31/824155179/cdc-director-on-models-for-the-months-to-come-this-virus-is-going-to-be-with-us">told NPR </a>that the agency's data shows that around 25% of those infected remain asymptomatic.</p><p class='black-text'>"That's important, because now you have individuals that may not have any symptoms that can contribute to transmission, and we have learned that in fact they do contribute to transmission."</p><p class='black-text'>The CDC's study also found that those infected with COVID-19 can be contagious up to 48 hours before they begin to show symptoms.</p><p class='black-text'>The CDC and the World Health Organization have issued guidance throughout the pandemic that healthy individuals should not wear masks to reserve the limited supply for those infected and health care workers. This new revelation that asymptotic individuals can spread the disease will most likely lead to the guidance for all everyone to wear masks in public.</p><p class='black-text'><i>China Update</i></p><p class='black-text'>As China has begun to ease travel restrictions in COVID-battered Wuhan, the nation has begun to <a href="https://www.reuters.com/article/us-health-coronavirus-china-asymptomatic/china-to-focus-on-asymptomatic-coronavirus-cases-as-public-fears-grow-idUSKBN21I0VC">test and report asymptomatic cases</a> in an effort to better understand the extent of the outbreak.</p> http://www.pws.io/coronavirus-update-officials-estimate-at-least-100000-americans-will-die-from-covid-19 Tue, 31 Mar 2020 18:22:01 -0400 Rachel Hemple IPO Weekly: Two Companies Plan to Debut Amid Market Swings http://www.pws.io/ipo-weekly-two-companies-plan-to-debut-amid-market-swings <p class='black-text'>Although there were no new Initial Public Offerings last week, two IPOs have announced plans to enter public markets this week, daring to brave the volatile market that has pretty much put IPOs on hold in March. The expected offerings include a Chinese hologram company and a biotech, both showing promising signs of profitability.</p><p class='black-text'>The Chinese holographic company <b>WiMi Hologram Cloud</b> is planning to raise $33 million at a $385 million market cap. The company issued the terms of its IPO by offering 5 million shares at an estimated price range of $5.50-$7.50 each. WiMi Hologram Cloud is a leading player in the Chinese holographic augmented reality business, which is an <a href="https://www.nasdaq.com/articles/us-ipo-week-ahead%3A-a-biotech-and-a-chinese-hologram-company-take-on-a-tough-ipo-market">estimated $500 million market</a>. The company's IPO is underwritten by the investment firm The Benchmark Company and has yet to disclose the date of its debut.</p><p class='black-text'>The New York City-based oncology biotech <b>Zentalis Pharmaceuticals </b>has set the terms for its IPO on Monday. The Phase 1/2 biotech developing novel small molecule therapies for various cancers plans to raise $130 million at a $580 market cap. The company plans to list on the Nasdaq and is offering 7.7 million shares set to price between $16-$18 each. The company plans to list about 7.6 million share at $16-$18 each. Investment firms Morgan Stanley <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/MS"><span style="color:#333">(</span><span style=";">MS</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="MS" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="MS" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="MS" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Jefferies Financial Group <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/JEF"><span style="color:#333">(</span><span style=";">JEF</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="JEF" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="JEF" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="JEF" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> are underwriters for the IPO. In its prospectus, Zentalis noted that the <a href="https://www.nasdaq.com/articles/oncology-biotech-zentalis-pharmaceuticals-sets-terms-for-%24130-million-ipo-scheduled-for">COVID-19 outbreak has had an impact on clinical trails</a>, as normal company functions have been delayed.</p> http://www.pws.io/ipo-weekly-two-companies-plan-to-debut-amid-market-swings Tue, 31 Mar 2020 16:53:33 -0400 Rachel Hemple Justice Dept. Approves UTC-Raytheon Merger with Conditions http://www.pws.io/justice-dept-approves-utc-raytheon-merger-with-conditions <p class='black-text'>The proposed mega-deal between United Technologies Corporation (UTC) <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/UTX"><span style="color:#333">(</span><span style=";">UTX</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="UTX" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="UTX" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="UTX" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Raytheon Co. <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/RTN"><span style="color:#333">(</span><span style=";">RTN</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="RTN" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="RTN" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="RTN" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> has moved <a href="https://finance.yahoo.com/news/utc-raytheon-deal-wins-u-231718132.html">one step closer to fruition</a> after receiving the approval of the U.S. Justice Department (DOJ). The DOJ stipulated certain conditions the two companies would have to meet before the deal could be carried out. Anti-trust approval is required for global suppliers of military systems and equipment such as UTC.</p><p class='black-text'>According to the DOJ, Raytheon and UTC are the only suppliers of military airborne radios and military GPS systems for air and sea that the Department of Defense uses. The companies also are among the few that make components for some military satellites that warn of missile launches.</p><p class='black-text'>The DOJ's conditions included the divestment of Raytheon's military airborne radios business. UTC must also divest from its military global positioning systems and large space-based optical systems business.</p><p class='black-text'>"Today's settlement protects the American taxpayer by preserving competition that leads to lower costs and higher innovation in critical military and defense products. The merger, as originally proposed, would have eliminated competition in the supply of military airborne radios and military GPS systems,"<a href="https://www.nasdaq.com/articles/antitrust-division-files-proposed-settlement-to-approve-utc-raytheon-deal-2020-03-27"> said Assistant Attorney General Makan Delrahim</a>, a member of the Antitrust Division.</p><p class='black-text'>In June, UTC agreed to merge its aerospace business with Raytheon, a U.S. contractor, to create a new entity worth roughly $128 billion. This would be the largest merger ever in the aerospace industry.</p><p class='black-text'>The deal <a href="https://www.journalnow.com/business/utc-raytheon-megadeal-gains-key-anti-trust-approval-from-european/article_3abb879f-7a46-51aa-9375-c077d2163212.html">won approval from the European Union</a> in early March. This approval by the European Commission also included conditions.</p><p class='black-text'>According to the Commission, "the proposed remedies remove the entire horizontal overlap between UTC and Raytheon in both military GPS receivers and military airborne radios globally."</p><p class='black-text'>UTC has plans to sell off some of its assets. The UTC division Collins Aerospace's Military Global Positioning System based in Cedar Rapids, Iowa is to be purchased for $1.92 billion in cash by BAE Systems PLC <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BAESY"><span style="color:#333">(</span><span style=";">BAESY</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BAESY" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BAESY" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="BAESY" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, a United Kingdom-based military-technology company. There is some expectation that Collin's Aerospace sales will be negatively impacted by the halt in the production of the Boeing 737 MAX <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BA"><span style="color:#333">(</span><span style=";">BA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="BA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>.</p><p class='black-text'>BAE also has plans to purchase Indiana-based Airborne Tactical Radios, a division of Raytheon, for $275 million. This sale is a part of the DOJ's conditions, as well, and they have approved the purchase.</p><p class='black-text'>Other requirements put in place by the Commission included the spinoff of UTC's Carrier and Otis divisions. These spinoffs are scheduled to occur on April 3.</p> http://www.pws.io/justice-dept-approves-utc-raytheon-merger-with-conditions Tue, 31 Mar 2020 16:15:05 -0400 Autumn McLain Market Update: Wall Street Posts Worst Month Since 2008 http://www.pws.io/market-update-wall-street-posts-worst-month-since-2008 <p class='black-text'>Wall Street rocked between gains and losses on Tuesday and ultimately ended March 2020 on the decline. Stocks have been swinging wildly over the past several weeks, leading the Dow Jones Industrial Average to record its worst month since 2008 and its worst quarter ever. The S&P 500 Index also posted its worst month since the 2008 financial crisis.</p><p class='black-text'><b>Here's how the market settled to end the month:</b></p><p class='black-text'>S&P 500 Index <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SPY"><span style="color:#333">(</span><span style=";">SPY</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SPY" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SPY" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="SPY" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>: -1.6% or -42.06 points to 2,584.59</p><p class='black-text'>Dow Jones Industrial Average <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DIA"><span style="color:#333">(</span><span style=";">DIA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DIA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DIA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DIA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>: -1.84% or -410.32 points to 21,917.16</p><p class='black-text'>Nasdaq Composite Index <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/QQQ"><span style="color:#333">(</span><span style=";">QQQ</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="QQQ" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="QQQ" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="QQQ" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>: -0.95% or -74.05 points to 7,700.1</p><p class='black-text'>In Major Stock News, shares of the pharmaceutical company Amarin <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AMRN"><span style="color:#333">(</span><span style=";">AMRN</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AMRN" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AMRN" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="AMRN" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> nosedived on Tuesday after a Nevada court ruled in favor of Hikma Pharmaceuticals <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/HKMPF"><span style="color:#333">(</span><span style=";">HKMPF</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="HKMPF" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="HKMPF" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="HKMPF" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Dr. Reddy's Laboratories <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/RDY"><span style="color:#333">(</span><span style=";">RDY</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="RDY" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="RDY" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="RDY" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> on a patent case involving Amarin's fish oil drug Vascepa. Oil exploration and production companies--Devon Energy <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DVN"><span style="color:#333">(</span><span style=";">DVN</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DVN" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DVN" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DVN" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Diamondback Energy <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/FANG"><span style="color:#333">(</span><span style=";">FANG</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="FANG" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="FANG" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="FANG" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Noble Energy <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/NBL"><span style="color:#333">(</span><span style=";">NBL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="NBL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="NBL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="NBL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>-- shares increased as crude oil prices jumped on Tuesday after following to 18-year lows. Both Dollar Tree <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DLTR"><span style="color:#333">(</span><span style=";">DLTR</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DLTR" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DLTR" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DLTR" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Domino's Pizza <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DPZ"><span style="color:#333">(</span><span style=";">DPZ</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DPZ" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DPZ" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DPZ" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> withdrew their 2020 guidance, leading to their stock shares dropping.</p><p class='black-text'>In Stock Sector News, every sector except Energy, who gained +1.63%, posted performance losses from Tuesday's market lows. The losses were as follows: Utilities -4.02%, Real Estate -3.26%, Financials -2.99%, Consumer Staples -1.96%, Information Technology -1.89%, Consumer Discretionary -1.78%, Materials -1.43%, Industrials -1.27%, Communication Services -0.52% and Health Care -0.39%.</p><p class='black-text'>In Commodity and Currency News, crude oil's over 65% price drop marks the commodity's worst quarter ever as both the pandemic and global price war work to lower prices. For Tuesday, West Texas Intermediate <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/USO"><span style="color:#333">(</span><span style=";">USO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="USO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="USO" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="USO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> fell -0.54% and Brent Crude <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BNO"><span style="color:#333">(</span><span style=";">BNO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BNO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BNO" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="BNO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> remained unchanged. Gold <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GLD"><span style="color:#333">(</span><span style=";">GLD</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GLD" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GLD" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GLD" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> also declined, with the metal's ounce price dropping -3.26% in the latest sell-off from investors. Finally, the U.S. Dollar <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/UUP"><span style="color:#333">(</span><span style=";">UUP</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="UUP" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="UUP" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="UUP" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> also lost some relative strength on Tuesday, with the DXY Index falling -0.11%.</p> http://www.pws.io/market-update-wall-street-posts-worst-month-since-2008 Tue, 31 Mar 2020 15:51:50 -0400 Rachel Hemple Democratic Takeover Odds Increase http://www.pws.io/democratic-takeover-odds-increase <p class='black-text'>The recent stock market weakness, mishandling of the coronavirus situation, and former Vice President Joe Biden securing the nomination have begun to upend the looming political landscape. President Donald Trump has gone from a nearly 60% favorite to win reelection in late-February to now a 48% favorite. Republican odds to keep control of the Senate has decreased from 73% in late-February to 56%, while Democratic odds to keep control of the House has increased to 75% from 57%.</p><p class='black-text'><i>Biden's Ascent</i></p><p class='black-text'>Another factor during this period has been Biden's looming triumph over Senator Bernie Sanders in the nomination. As a socialist, Sanders was going to hurt down-ballot races especially in places like Florida, Arizona, and North Carolina. His candidacy rested on the assumption that the moderate vote would be split allowing him to win with a plurality and that his campaign would be successful in activating and engaging the youth and nonvoters.</p><p class='black-text'>Both turned out to be incorrect. Biden's competition in the moderate lane quickly dropped out following the South Carolina primary, and there hasn't been a surge in turnout figures for Sanders' base. Although, he is dominating with young voters, while Biden dominates with older voters.</p><p class='black-text'><i>Swing Vote</i></p><p class='black-text'>However, there is a surge in moderate, suburban voters especially in Romney-Clinton districts that voted for Mitt Romney in 2012 but flipped to voting for Hillary Clinton in 2016. This swing powered the 2018 wave in the midterms with moderate Democrats winning these swing areas in overwhelming numbers.</p><p class='black-text'>If it persists, many red states could turn blue in the coming decades like North Carolina and Arizona. In contrast, areas that have been typically blue composed of working-class white people form the core of Obama-Trump districts which could turn many blue states into red states like Minnesota or Wisconsin.</p><p class='black-text'>The powerful, moderate swing vote is a big threat to President Trump's reelection. It's not a good sign that he was losing this base even when the economy was doing well. His case rested on the strong stock market and a good economy. However, his handling of the coronavirus situation and the effects on financial markets and the economy may undercut these arguments.</p> http://www.pws.io/democratic-takeover-odds-increase Tue, 31 Mar 2020 10:08:17 -0400 Jaimini Desai Drive-Thru Parking Lot Coronavirus Testing Sites Now Available http://www.pws.io/drive-thru-parking-lot-coronavirus-testing-sites-now-available <p class='black-text'>After being in conversation with President Donald Trump about drive-thru testing sites for COVID-19, the disease caused by the novel coronavirus SARS-CoV-2, several private-sector retailers have begun opening testing sites, including CVS Heath <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/CVS"><span style="color:#333">(</span><span style=";">CVS</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="CVS" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="CVS" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="CVS" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Walgreens <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/WBA"><span style="color:#333">(</span><span style=";">WBA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="WBA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="WBA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="WBA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Rite Aid <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/RAD"><span style="color:#333">(</span><span style=";">RAD</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="RAD" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="RAD" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="RAD" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, and Walmart <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/WMT"><span style="color:#333">(</span><span style=";">WMT</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="WMT" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="WMT" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="WMT" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>.</p><p class='black-text'>"We've been in <a href="https://www.businessinsider.com/drive-through-coronavirus-tests-states-2020-3" target="_blank">discussions with pharmacies and retailers to make drive-thru tests available</a> in the critical locations identified by public-health officials," said President Donald Trump in a recent news conference. "The goal is for individuals to be able to drive up and be swabbed without having to leave your car."</p><p class='black-text'>However, as of March 28, only five drive-thru parking lot sites have opened so far between the retailers: three in the Chicago area (two at Walmarts and one at a Walgreens), one at a CVS in central Massachusetts, and one at a Rite-Aid in Philadelphia.</p><p class='black-text'>Target <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/TGT"><span style="color:#333">(</span><span style=";">TGT</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="TGT" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="TGT" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="TGT" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> has also been part of discussions with the White House, although the company hasn't opened any COVID-19 testing sites yet.</p><p class='black-text'>According to Target's corporate website, since partnering with the government they "continue to work with state and local officials and task force partners to identify parking lot locations to serve as temporary testing sites." The company added, "We <a href="https://corporate.target.com/about/purpose-history/our-commitments/target-coronavirus-hub" target="_blank">stand committed to offering our parking lot locations</a> and supporting their efforts when they are ready to activate."</p><p class='black-text'>At this point, rather than relying solely on private retail locations, the majority of COVID-19 testing sites have popped up across the country in parking lots of various other establishments and institutions, including hospitals, universities, and even stadiums.</p><p class='black-text'>One such drive-thru location is in Miami in the Hard Rock Stadium parking lot, home of the Miami Dolphins. At that location, people over age 65 with COVID-19 symptoms, first responders, and healthcare workers are able to be tested without having an appointment.</p><p class='black-text'>ProHEALTH, an independent group of doctors and healthcare providers, has opened drive-thru sites throughout New York, which require an appointment.</p><p class='black-text'>According to Dr. Bonnie Simmons, urgent care medical director at ProHEALTH, her experiences serving COVID-19 patients have been unprecedented.</p><p class='black-text'>"I've been doing emergency medicine my entire life for almost 30 years," Simmons said. "In my career I didn't think I'd have that many firsts. But <a href="https://time.com/5811061/drive-thru-coronavirus-testing-workers/" target="_blank">this is new terrain</a>. Every minute people are looking to me for all the answers. I go home just thinking I hope to continue to have enough answers. That's what keeps me up at night--am I going to have enough answers to protect my staff and take the best care of our patients?"</p><p class='black-text'>As of March 27, other states with drive-thru COVID-19 testing sites include Alaska, Arizona, California, Colorado, Connecticut, Georgia, Illinois, Louisiana, Massachusetts, Michigan, Minnesota, New Jersey, North Dakota, Pennsylvania, Texas, and Washington.</p> http://www.pws.io/drive-thru-parking-lot-coronavirus-testing-sites-now-available Tue, 31 Mar 2020 10:07:40 -0400 Rebecca O'Bern Trump Weekly: Should We Spread His Lies? http://www.pws.io/trump-weekly-should-we-spread-his-lies <p class='black-text'>For weeks this and many other publications have written extensively about the misinformation President Donald Trump and his Administration have been spreading via Twitter <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/TWTR"><span style="color:#333">(</span><span style=";">TWTR</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="TWTR" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="TWTR" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="TWTR" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and their daily Coronavirus press briefings. Now, with thousand in the U.S. dead and more people infected every day, the question has been asked: <a href="https://www.vox.com/policy-and-politics/2020/3/29/21198903/trump-coronavirus-press-conference-news-media">should we broadcast his lies</a>?</p><p class='black-text'>This issue was really brought to the forefront by the President himself. In keeping with his obsession with his public image and television ratings, Trump tweeted that the media is talking about his coverage of the virus <a href="https://www.usatoday.com/story/news/politics/2020/03/29/trump-tweets-touting-tv-ratings-coronavirus-briefings/2936761001/">because of his popularity</a>.</p><p class='black-text'>"Because the "Ratings" of my News Conferences etc. are so high, "Bachelor finale, Monday Night Football type numbers" ... the Lamestream Media is going CRAZY. "Trump is reaching too many people, we must stop him." said one lunatic. See you at 5:00 P.M.!" <a href="https://twitter.com/realDonaldTrump/status/1244309931874017280">Trump tweeted</a>.</p><p class='black-text'>Unsurprisingly, Twitter exploded with the outrage of Americans who are watching their loved ones become ill and their communities close down. Even Fox News pundits like Bit Hume were disappointed in the President's words. <a href="https://twitter.com/brithume/status/1244321271007055873">Hume retweeted the President</a> with the comment "Why bother to tweet about this, of all things?"</p><p class='black-text'>Katharina Borchert, Chief Innovation Officer Mozilla, and Ex-CEO Spiegel Online <a href="https://twitter.com/lyssaslounge">tweeted at the President</a>, "Someone should tell him that his ratings will drop when his audience dies in large numbers. Maybe that gets through to him."</p><p class='black-text'>The problem, of course, is that huge numbers of people, 8.5 million <a href="https://www.nytimes.com/2020/03/25/business/media/trump-coronavirus-briefings-ratings.html">according to the New York Times</a>, are turning to these briefings for accurate information regarding how to survive this crisis, physically and economically, not because they want to see Trump. Other officials like Dr. Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, and Dr. Deborah Birx, a physician with extensive experience combating HIV/AIDS and the White House's COVID-19 response coordinator, also speak at these briefings.</p><p class='black-text'>As of March 29, <a href="https://www.nytimes.com/2020/03/29/world/coronavirus-live-news-updates.html">the Times is reporting</a> that there are now more than 125,000 cases of COVID-19 in the U.S. According to the most recent <a href="https://thehill.com/homenews/administration/490048-fauci-says-us-could-have-millions-of-coronavirus-cases-and-over">White House press briefing</a>, that number could reach into the millions before the crisis is over. That number was given by Fauci, not the President. This briefing also extended the period of social distancing recommended by the government until April 30.</p><p class='black-text'>Trump made another splash during this briefing due to his <a href="https://thehill.com/homenews/administration/490093-trump-gets-in-back-and-forth-with-reporter-during-coronavirus">treatment of a reporter</a> who asked about his recent comments on Fox New's show hosted by Sean Hannity. "PBS NewsHour" reporter Yamiche Alcindor asked the President about comments he made claiming that some governors were overstating their needs during the crisis.</p><iframe width="100%" height="400" src="the President said" frameborder="0" allowfullscreen></iframe><iframe width="100%" height="400" src="https://www.youtube.com/embed/A6Jd-e1vUoA">the" frameborder="0" allowfullscreen></iframe><p class='black-text'>"I have a feeling that a lot of the numbers that are being said in some areas are just bigger than they're going to be," . "I don't believe you need 40,000 or 30,000 ventilators. You go into major hospitals sometimes, and they'll have two ventilators. And now, all of a sudden, they're saying, 'Can we order 30,000 ventilators?'"</p><p class='black-text'>Trump first denied that he had made the statements at all, "I never said that. No. No." This despite the fact that they were broadcast on tv and reported on by <a href="https://www.politico.com/news/2020/03/26/trump-ventilators-coronavirus-151311">multiple news outlets</a>. He went on to attack Alcindor.</p><p class='black-text'>"Why don't you act in a little more positive? ... It's always get ya, get ya, get ya," Trump said to Alcindor. "You know what? That's why nobody trusts the media anymore... Look, let me tell you something. Be nice. Don't be threatening."</p><p class='black-text'>In the meantime, the most serious threat to the country right now has been mishandled and repeatedly downplayed by the Administration.</p> http://www.pws.io/trump-weekly-should-we-spread-his-lies Mon, 30 Mar 2020 19:58:36 -0400 Autumn McLain Coronavirus Update: Nations Extend Lockdowns as Cases Surge http://www.pws.io/coronavirus-update-nations-extend-lockdowns-as-cases-surge <p class='black-text'>Over the weekend, President Donald Trump extended the White House's national guidelines on social distancing from March 31 to April 30 in an effort to keep the projected death toll to the lowest estimates. The White House coronavirus response coordinator Dr. Deborah Birx stated that the projected death toll for Americans is between 100,000-200,000 in a <a href="https://www.nbcnews.com/news/us-news/dr-deborah-birx-predicts-200-000-deaths-if-we-do-n1171876">best-case scenario</a>.</p><p class='black-text'>Trump stated that he hopes the country will be able to recover by June 1. At the same time, may other countries have prolonged their lockdown periods, with the United Kingdom going as far as saying their period can last up to six months.</p><p class='black-text'>Total Global Cases: Over 784,000</p><p class='black-text'>Total Deaths: At Least 37,000</p><p class='black-text'>Total Recovered: At Least 164,000</p><p class='black-text'><i>Growing Pains </i></p><p class='black-text'>Italy and Spain have become the second and third countries to surpass China's total confirmed cases. Italy on Monday also became the second country to report over 100,000 cases, only behind the United States.</p><p class='black-text'>As cases continue to overload the Italian health care system, the nation's Prime Minister Giuseppe Conte issued a warning to the European Union as many have become critical of its aid to the bleeding nation.</p><p class='black-text'>"If the E.U. does not live up to its vocation and its role in this historical situation, will citizens have more confidence in its or will they permanently lose it?...Nationalist instincts, in Italy, but also in Spain and elsewhere, will be much stronger if Europe is not up to the task," Conte told the <a href="https://translate.google.com/translate?hl=en&sl=es&u=https://elpais.com/internacional/2020-03-29/el-problema-no-es-salir-de-la-crisis-sino-hacerlo-cuanto-antes.html&prev=search">El Pais in an interview.</a></p><p class='black-text'><i>Comfort and Mercy </i></p><p class='black-text'>In a scene not seen since September 11, 2001, the USNS Comfort has docked outside of New York City to help offload the burden on the city's health care system.</p><p class='black-text'>New York Governor Andrew Cuomo welcomed the arrival of the Navy hospital ship, <a href="https://twitter.com/NYGovCuomo/status/1244659526747525122">tweeting:</a> "We will fight every way we can to save every life we can."</p><p class='black-text'>The ship can provide about 1,000 hospital beds and 1,200 personal to New York City. It will be used as another hospital to treat patients in need of care outside of COVID-19; the ship is there to relieve the burden on overcrowded medical center.</p><p class='black-text'>The USNS Comfort's sister ship, the USNS Mercy, has been sent to Los Angeles to assist the growing outbreak on the West Coast.</p><p class='black-text'>In addition to the medical ships, the Federal Emergency Management Agency (FEMA) has sent refrigerator trucks to NYC to <a href="https://thehill.com/homenews/state-watch/490252-fema-sending-refrigerator-trucks-to-nyc-for-coronavirus-deaths">serve as temporary mortuaries </a>for those who have died from the virus.</p><p class='black-text'>NYC Mayor Bill de Blasio stated that the city is preparing for a "horrible increase in the number of deaths."</p><p class='black-text'>Governor Cuomo also on Monday called on health care workers across the United States to travel to help the state with the outbreak. At his daily press conference, Cuomo <a href="https://www.cnbc.com/2020/03/30/coronavirus-fight-new-york-gov-cuomo-issues-nationwide-call-for-doctors-and-nurses.html">stated</a>, "Help New York. We are the ones who are hit now...tomorrow it is going to be somewhere else...it is going to work its way across the country."</p><p class='black-text'><i>Race for the Cure</i></p><p class='black-text'>The World Health Organization announced on Monday that early data shows that some drugs <a href="https://www.cnbc.com/2020/03/30/who-says-early-data-shows-some-drugs-may-have-an-impact-on-coronavirus-but-more-research-is-needed.html">may have an impact on COVID-19</a>, but more research will need to be done before reaching a conclusion.</p><p class='black-text'>Executive Director of WHOs Health Emergencies Program Dr. Mike Ryan said that there is "some preliminary data from non-randomized studies, observational studies, that indicate some drugs and some drug cocktails may have an impact...Some of [the drugs in the study] may impact the length of disease, some may impact the severity of disease and the dosages of those drugs when they're given to what patients at what state of the disease has not been standardized."</p><p class='black-text'>Nonetheless, President Trump has pushed for the use of Hydroxycloroquine, <a href="https://economictimes.indiatimes.com/news/international/world-news/malaria-medicine-hydroxychloroquine-being-administered-to-1100-covid19-patients-in-ny-trump/articleshow/74885135.cms">stating</a>: "Hydroxychloroquine is something that I have been pushing very hard. I think we're going to have a good idea [about its effectiveness] over the next three days because its being used in New York at my request--1,000 people. Its being used. I think thats better than testing it in a laboratory. But the doctors tell me no."</p><p class='black-text'>Adding to the growing number of studies, Johnson & Johnson <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/JNJ"><span style="color:#333">(</span><span style=";">JNJ</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="JNJ" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="JNJ" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="JNJ" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> announced that the pharmaceutical company will begin human testing of a potential COVID-19 vaccine in September and could have a drug available in early 2021.</p> http://www.pws.io/coronavirus-update-nations-extend-lockdowns-as-cases-surge Mon, 30 Mar 2020 19:49:30 -0400 Rachel Hemple Big Tech in Talks With U.S. Government to Help Fight Coronavirus, Possibly Using Location Data http://www.pws.io/big-tech-in-talks-with-us-government-to-help-fight-coronavirus-possibly-using-location-data <p class='black-text'>Big tech companies Facebook <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/FB"><span style="color:#333">(</span><span style=";">FB</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="FB" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="FB" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="FB" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Google <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GOOGL"><span style="color:#333">(</span><span style=";">GOOGL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GOOGL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GOOGL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GOOGL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Amazon <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AMZN"><span style="color:#333">(</span><span style=";">AMZN</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AMZN" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AMZN" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="AMZN" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Apple <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AAPL"><span style="color:#333">(</span><span style=";">AAPL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AAPL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AAPL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="AAPL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Microsoft <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/MSFT"><span style="color:#333">(</span><span style=";">MSFT</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="MSFT" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="MSFT" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="MSFT" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, and Twitter <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/TWTR"><span style="color:#333">(</span><span style=";">TWTR</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="TWTR" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="TWTR" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="TWTR" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> have been in <a href="https://techcrunch.com/2020/03/17/u-s-government-reportedly-in-talks-with-tech-companies-on-how-to-use-location-data-in-covid-19-fight/" target="_blank">regular contact with the White House</a> to discuss efforts to help stop the spread of the novel coronavirus (COVID-19) pandemic.</p><p class='black-text'>Recently, a story spread based on a report by The Washington Postthat Facebook was considering, as part of these discussions, sharing user location data with the government to help combat the spread of COVID-19.</p><p class='black-text'>However, Facebook CEO Mark Zuckerberg denied these claims, stating that if users don't have the chance to opt in to allow this type of information to be shared with the government, that Facebook wouldn't participate--or at least, that doing so wouldn't "make sense."</p><p class='black-text'>"I don't think it would make sense to share people's data in a way <a href="https://www.cnet.com/news/zuckerberg-says-facebook-is-not-giving-governments-data-to-track-coronavirus-spread/" target="_blank">where they didn't have the opportunity to opt in</a> to do that," stated Zuckerberg. "We're <a href="https://www.businessinsider.com/zuckerberg-facebook-not-sharing-location-data-government-track-coronavirus-2020-3" target="_blank">not aware of any active conversations</a> or asks with the U.S. or other governments at this point asking for access to that data specifically."</p><p class='black-text'>Facebook spokesperson Andy Stone echoed these sentiments. Stone clarified that anonymous aggregated data could be useful from a collective research standpoint, however specific user data hasn't been requested by any government authorities.</p><p class='black-text'>"There is <a href="https://www.cnbc.com/2020/03/19/facebook-google-could-share-smartphone-data-to-fight-coronavirus.html" target="_blank">no agreement to share people's location data with governments,</a>" said Stone. "This data is available to researchers, not the government. In the U.S. we briefed the CDC on the work we do with aggregate, de-identified data maps with researchers - which has been previously reported - and they were supportive of our doing more of it. We have not received requests for location data from the U.S. government."</p><p class='black-text'>Google has been looking into how aggregated location data could be of assistance as well, such as confirming the effects of social distancing.</p><p class='black-text'>"We're <a href="https://www.cnet.com/news/zuckerberg-says-facebook-is-not-giving-governments-data-to-track-coronavirus-spread/" target="_blank">exploring ways that aggregated anonymized location information could help</a> in the fight against COVID-19," said Google. "One example could be helping health authorities determine the impact of social distancing, similar to the way we show popular restaurant times and traffic patterns in Google Maps."</p><p class='black-text'>Facebook and Google, in addition to Twitter, have also been stepping in to help decrease the spread of misinformation about the coronavirus through their platforms and services.</p> http://www.pws.io/big-tech-in-talks-with-us-government-to-help-fight-coronavirus-possibly-using-location-data Mon, 30 Mar 2020 17:20:24 -0400 Rebecca O'Bern Market Summary: Stocks Continue Gains on Stimulus Bet http://www.pws.io/market-summary-stocks-continue-gains-on-stimulus-bet <p class='black-text'>Wall Street extended its gains made last week, pushing higher on Monday from the optimism the Trump administration's stimulus bill infused into the stock market. Market participants entered Monday's session aware of the United States's extended extended social distance guidelines until April 30, adding two more weeks to Trump's April 12 deadline. Volatility continues to grip financial markets as the pandemic takes hold around the globe, sending stocks on a rollercoaster that has yet to end.</p><p class='black-text'><b>Here's how the market settled to start the week: </b></p><p class='black-text'>S&P 500 Index <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SPY"><span style="color:#333">(</span><span style=";">SPY</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SPY" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SPY" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="SPY" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>: +3.35% or +85.15 points to 2,626.62</p><p class='black-text'>Dow Jones Industrial Average <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DIA"><span style="color:#333">(</span><span style=";">DIA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DIA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DIA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DIA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>: +3.19% or +690.70 points to 22,327.48</p><p class='black-text'>Nasdaq Composite Index <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/QQQ"><span style="color:#333">(</span><span style=";">QQQ</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="QQQ" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="QQQ" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="QQQ" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>: +3.62% or +271.77 points to 7,774.15</p><p class='black-text'>In Major Stock News, Johnson & Johnson <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/JNJ"><span style="color:#333">(</span><span style=";">JNJ</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="JNJ" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="JNJ" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="JNJ" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares surged on Monday following an announcement that the company has a COVID-19 vaccine candidate that will begin human trials in September. Shares of Regeneron Pharmaceuticals <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/REGN"><span style="color:#333">(</span><span style=";">REGN</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="REGN" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="REGN" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="REGN" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> also rose after the biotech expanded its clinical trail of the company's potential coronavirus treatment. Shares of a media company Tegna <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/TGNA"><span style="color:#333">(</span><span style=";">TGNA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="TGNA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="TGNA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="TGNA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> slumped after the company announced that the coronavirus crisis has led to two potential acquisitions ending discussions. Boeing <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BA"><span style="color:#333">(</span><span style=";">BA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="BA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> fell again today, with other major airline stocks--American Airlines <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AAL"><span style="color:#333">(</span><span style=";">AAL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AAL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AAL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="AAL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, United Airlines <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/UAL"><span style="color:#333">(</span><span style=";">UAL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="UAL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="UAL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="UAL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Delta Air Lines <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DAL"><span style="color:#333">(</span><span style=";">DAL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DAL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DAL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DAL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>--due to growing fears of the continued shutdown of the aviation industry.</p><p class='black-text'>In Stock Sector News, every sector posted performance gains as investors bet on the stimulus bill aiding the economy. The increases were as follows: Health Care +4.67%, Information Technology +4.23%, Consumer Staples +3.90%, Utilities +3.70%, Communication Services +3.58%, Materials +3.25%, Real Estate +2.73%, Financials +2.01%, Industrials +1.51% and Energy +1.03%.</p><p class='black-text'>In Commodity and Currency News, the price of oil dropped to an 18-year low on Monday as demand continues to fall amid prolonged global shutdowns. West Texas Intermediate <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/USO"><span style="color:#333">(</span><span style=";">USO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="USO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="USO" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="USO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> declined over -7% and Brent Crude <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BNO"><span style="color:#333">(</span><span style=";">BNO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BNO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BNO" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="BNO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> crashed almost -9.6%, bring crude barrel prices between $20-$23 each. Gold <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GLD"><span style="color:#333">(</span><span style=";">GLD</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GLD" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GLD" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GLD" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> increased slightly on Monday, with the metal's price per ounce increasing +0.10%. Finally, the U.S. Dollar <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/UUP"><span style="color:#333">(</span><span style=";">UUP</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="UUP" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="UUP" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="UUP" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> also gained in value, with the DXY Index increasing +0.46%.</p> http://www.pws.io/market-summary-stocks-continue-gains-on-stimulus-bet Mon, 30 Mar 2020 17:15:43 -0400 Rachel Hemple Blockchain & Cryptocurrency Weekly: IBM and Oracle Partner with World Health Organization, Use Blockchain http://www.pws.io/blockchain-cryptocurrency-weekly-ibm-and-oracle-partner-with-world-health-organization-use-blockchai <p class='black-text'>The biggest news of the week is <a href="https://www.coindesk.com/world-health-organization-teams-with-ibm-oracle-on-blockchain-based-coronavirus-data-hub">International Business Machines</a> <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/IBM"><span style="color:#333">(</span><span style=";">IBM</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="IBM" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="IBM" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="IBM" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Oracle <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/ORCL"><span style="color:#333">(</span><span style=";">ORCL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="ORCL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="ORCL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="ORCL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, and the World Health Organization (WHO) are partnering on an open data hub to use blockchain technology to check the veracity of data relating to the coronavirus pandemic. MiPasa is built on Hyperledger Fabric and expected to evolve into a data hub that checks the veracity of information. Jonathan Levi, CEO of Hacera, the firm building the platform, said MiPasa is becoming a "COVID-19 information highway." Other project collaborators include Microsoft <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/MSFT"><span style="color:#333">(</span><span style=";">MSFT</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="MSFT" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="MSFT" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="MSFT" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Johns Hopkins University, and China's National Health Commission. IBM Blockchain CTO Gari Singh said everyone agrees it is important to "kickstart a consortium" as soon as possible, and he noted features like coronavirus testing data could be added to the hub.</p><p class='black-text'><b>Here is the rest of the week in review:</b></p><p class='black-text'><a href="https://www.coindesk.com/hsbc-puts-10b-of-private-placements-on-r3s-corda-blockchain">HSBC </a><nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/HSBC"><span style="color:#333">(</span><span style=";">HSBC</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="HSBC" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="HSBC" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="HSBC" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> placed $10 billion of paper-based private placement records on R3's Corda blockchain and plans to ramp up the project through the next 2 years. The British financial giant told CoinDesk efforts to boost the functionality of the platform due to client interest are slowing its on-boarding push. Without plans to move into the crypto space immediately, HSBC is focused on assets that are not yet digitized, as well as exchange-based security tokens and traditional assets that can be fractionalized. The bank is using blockchain as opposed to a traditional database because it plans to tokenize the private placements after it digitizes them. The bank's clients can access the Corda platform, which HSBC calls "Digital Vault," and view the private sales of shares or bonds through their online accounts.</p><p class='black-text'><a href="https://www.coindesk.com/luxury-watchmaker-breitling-adds-its-first-timepieces-to-a-blockchain">Breitling </a>added its first timepieces to a blockchain. The Swiss luxury watchmaker rereleased the Breitling Top Time hand-wound chronograph, with a black-and-white "panda" face to a new generation. Instead of offering a certificate of authenticity, the firm is registering each watch on a private blockchain that will follow its source from owner to owner. The firm stated: "The Breitling Top Time Limited Edition will be the brand's first watch offered with a blockchain-based digital passport, which confirms the authenticity and ownership of the watch with a single click." Breitling is using a blockchain from valuables registrar Arianee, a French firm that aims to build perpetual relationships between brands and owners. The blockchain links the watch's warranty to the watch itself and not any paper trail, allowing owners to ensure their chronographs are serviced by authorized dealers based on the timepiece's digital signature.</p><p class='black-text'>Crypto prices rose to $168 billion this week, trading in parallel with global equity markets. For the majors, Ripple (XRP), Litecoin (LTC), and Binance Coin (BNB) made gains, while Bitcoin SV (BSV), EOS, and Tezos (XTZ) fell. In the top 100, the biggest losers were KuCoin Shares (KCS), down 21%, Hedera Hashgraph (HBAR), down 11%, and Waves (WAVES), down 11%. The biggest gainers were Quant (QNT), up a whopping 51%, Status (SNT), up 33%, and Numeraire (NMR), up 26%. Next week traders will see if crypto can rebound for another week.</p><p class='black-text'><i>The author owns a small amount of LTC.</i></p> http://www.pws.io/blockchain-cryptocurrency-weekly-ibm-and-oracle-partner-with-world-health-organization-use-blockchai Mon, 30 Mar 2020 11:01:51 -0400 Eric Yao PG&E Pleads Guilty to 84 Counts of Manslaughter http://www.pws.io/pge-pleads-guilty-to-84-counts-of-manslaughter <p class='black-text'>After months of bankruptcy and settlement negotiating, Pacific Gas & Electric (PG&E) <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/PCG"><span style="color:#333">(</span><span style=";">PCG</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="PCG" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="PCG" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="PCG" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> <a href="https://www.reuters.com/article/us-pg-e-us-bankruptcy/pge-to-plead-guilty-to-84-involuntary-manslaughter-counts-over-2018-wildfire-idUSKBN21A1TJ">will plead guilty</a> to 84 counts of involuntary manslaughter and one felony count of unlawfully causing a fire. <a href="https://www.theguardian.com/world/2020/mar/23/california-power-company-pg-and-e-pleads-guilty-involuntary-manslaughter-paradise-fire">This plea agreement</a> comes days after the utility accepted tighter regulations and oversight and pledged billions of dollars to improve equipment safety and help wildfire victims. The plea was expected to be made Friday, but due to court closings, the date has been rescheduled for April 24.</p><p class='black-text'>The charge of unlawfully causing a fire "includes three special allegations for PG&E's causing great bodily injury to a firefighter; causing great bodily injury to more than one surviving victim; and causing multiple structures to burn," according to Butte County District Attorney Mike Ramsey.</p><p class='black-text'><a href="https://www.nbcnews.com/news/us-news/pg-e-plead-guilty-manslaughter-california-camp-fire-n1166471">The plea agreement</a> stipulates that PG&E must pay the maximum fine of roughly $3.5 million. This is on top of the $500,000 paid to the Butte County District Attorney Environmental and Consumer Protection Trust Fund to cover investigation costs.</p><p class='black-text'>"Other agreements with the company included having a federally-appointed court monitor of PG&E's safety performance report to the Butte County District Attorney for the next two years," Ramsey's office said.</p><p class='black-text'>On Nov. 8, 2018, PG&E equipment sparked the Camp Fire that decimated Northern California for half a month. The Camp Fire was the most destructive in the state's history with more than 150,000 acres burned and 18,000 buildings destroyed. Original counts linked 85 deaths to the fire, but later investigations led to that number being lowered to 84.</p><p class='black-text'>"Our equipment started the fire. Those are the facts, and with this plea agreement we accept responsibility for our role in the fire," PG&E President Bill Johnson said.</p><p class='black-text'>PG&E, the company responsible for the utilities of millions of Californians, filed for bankruptcy in early 2019. At that time, PG&E faced $30 billion in liabilities and lawsuits from the Camp Fire and other blazes started in the state. The company must emerge from bankruptcy by June 30, 2020, or the business must be put up for sale. If the utility doesn't emerge from bankruptcy before then, they also won't qualify for $21 billion in wildfire insurance.</p><p class='black-text'>"We are working diligently to get our Plan of Reorganization approved by the Bankruptcy Court as soon as possible, so that we can get victims paid," Johnson said. "We will emerge from Chapter 11 as a different company prepared to serve California for the long term."</p><p class='black-text'>The guilty plea has met with mixed responses from victims of the fire.</p><p class='black-text'>"What's gonna change? What's the punishment?" said Paradise Town Councilor Mike Zuccolillo, who lost his home in the fire. "To me, punishment is supposed to correct an action. Is this going to correct an action? I think the people it will have the impact on are the families who lost people. The community as a whole is probably one step closer to healing."</p><p class='black-text'>According to NBC News, PG&E has paid settlements amounting to roughly $25.5 billion for victims of fires started in 2015, 2017, and 2018. The district attorney's office found that a speedy deal was the best way not to "jeopardize the company's ability to pay victims", according to the settlement.</p> http://www.pws.io/pge-pleads-guilty-to-84-counts-of-manslaughter Mon, 30 Mar 2020 10:43:55 -0400 Autumn McLain Coronavirus Update: U.S. Cases Exceed 100,000, Boris Johnson Tests Positive http://www.pws.io/coronavirus-update-us-cases-exceed-100000-boris-johnson-tests-positive <p class='black-text'>The <a href="https://covid19.pws.io/">coronavirus outbreak</a> in the United States reached another milestone on Friday, with the country becoming the first to exceed 100,000 confirmed COVID-19 cases. Friday was also the day the nation's death toll surpassed 1,500.</p><p class='black-text'>Also on Friday, United Kingdom's Prime Minister Boris Johnson became the first world leader to test positive for the virus. Johnson stated in a Twitter <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/TWTR"><span style="color:#333">(</span><span style=";">TWTR</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="TWTR" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="TWTR" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="TWTR" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> <a href="https://twitter.com/BorisJohnson/status/1243496858095411200?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed&ref_url=https%3A%2F%2Fwww.cnbc.com%2F2020%2F03%2F27%2Fcoronavirus-latest-updates.html">post </a>amid his isolation: "Be in no doubt that I can continue, thanks to the wizardry of modern technology, to communicate with all my top team to lead the national fight back against coronavirus."</p><p class='black-text'><b>Total Global Cases:</b> Over 596,000</p><p class='black-text'><b>Total Deaths: </b>At Least 27,000</p><p class='black-text'><b>Total Recovered:</b> At Least 133,000</p><p class='black-text'><i>Rapid Growth</i></p><p class='black-text'>The number of cases within the United States has rapidly accelerated this week, mostly due to the increased availability of testing supplies. The outbreak has already affect much of American's way of life, with many states, especially those hit hard by large outbreaks, calling for the closure of business and limiting the public from leaving their homes. However, the United States has not entered a national lockdown like many other nations with far less confirmed cases have already done.</p><p class='black-text'>Nevertheless, President Donald Trump continues to stick to his restart date of April 12. Trump stated to <a href="https://www.cnbc.com/2020/03/27/coronavirus-trump-told-pence-not-to-call-washington-michigan-governors.html">reporters at his late afternoon daily press conference</a> that he instructed Vice President Mike Pence to not aid state governors who are critical of the Trump Administration's efforts.</p><p class='black-text'>"I think they should be appreciative. Because you know what? When they're not appreciative to me, they're not appreciative to the Army Corps of Engineers, they're not appreciate to FEMA. It's not right," Trump stated.</p><p class='black-text'><i>Stimulus Package </i></p><p class='black-text'>President Trump signed the anticipated $2 trillion coronavirus relief bill into law Friday afternoon, with Congress and the White House rushing to enact the bill to aid the world's largest economy.</p><p class='black-text'>Being the <a href="https://www.nytimes.com/article/coronavirus-stimulus-package-questions-answers.html?action=click&pgtype=Article&state=default&module=styln-coronavirus&variant=show&region=TOP_BANNER&context=storyline_menu?action=click&pgtype=Article&state=default&module=styln-coronavirus&variant=show&region=TOP_BANNER&context=storyline_menu">largest stimulus bill in modern history,</a> the CARES Act is designed to lessen the economic impact the coronavirus brought to the American public and businesses. The bill outlines the direct payment of up to $1,200 to taxpayers, increased unemployment benefits, aid for small business employers, money for state governments, financial aid for hospitals on the front lines and a large bailout for businesses that have been hit particularly hard by the crisis. The bill also includes, for the first time, the extension of unemployment benefits to freelancers and gig workers like Uber <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/UBER"><span style="color:#333">(</span><span style=";">UBER</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="UBER" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="UBER" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="UBER" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> drivers.</p><p class='black-text'>Google <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GOOGL"><span style="color:#333">(</span><span style=";">GOOGL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GOOGL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GOOGL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GOOGL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> is also lending a hand to small businesses impacted by the outbreak, with the search engine<a href="https://blog.google/inside-google/company-announcements/commitment-support-small-businesses-and-crisis-response-covid-19"> offering $340 million in free ads to those who qualify</a>. This is part of Google's $800 million response package that also is funding production of much needed health care equipment like masks and ventilators.</p><p class='black-text'><i>Change of Tone</i></p><p class='black-text'>President Trump used the Defense Protection Act on Friday to command General Motors <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GM"><span style="color:#333">(</span><span style=";">GM</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GM" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GM" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GM" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> to start making the ventilators health care workers desperately need.</p><p class='black-text'>Trump <a href="https://twitter.com/realDonaldTrump/status/1243557418556162050">tweeted</a>: "As usual with 'this' General Motors, things just never seem to work out. They said they were going to give us 40,000 much needed Ventilators, 'very quickly'. Now they are saying it will only be 6000, in late April, and they want top dollar. Always a mess with Mary B. Invoke 'P'." The President clarified laster that "Invoke 'P'" meant the Defense Production Act.</p><p class='black-text'>In addition to General Motors's production order, Trump <a href="https://twitter.com/realDonaldTrump/status/1243559373395410957">called on Ford</a> <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/F"><span style="color:#333">(</span><span style=";">F</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="F" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="F" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="F" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> to begin mass producing ventilators as well.</p><p class='black-text'>For weeks, the President and top health expert on the coronavirus Task Force Dr. Deborah L. Birx have downplayed the need for ventilators, even after state governors criticized how the federal government was handling the situation.</p><p class='black-text'><i>WHO Drug Trial </i></p><p class='black-text'>The World Health Organization announced on Friday that <a href="https://www.cnbc.com/2020/03/27/who-officials-enroll-first-patients-from-norway-and-spain-in-historic-coronavirus-drug-trial.html">coronavirus patients in Norway and Spain have been enrolled in a new drug trial </a>by WHO.</p><p class='black-text'>WHO Officials are testing four drugs that have shown promising results in the treatment of COVID-19: chloroquine, hydroxychloroquine, Remdesivir, a combination of Lopinavir and Ritonavir and a combination of all four treatments with the addition of an interferonbeta.</p><p class='black-text'>Although there are no proven therapies of the virus to date, this trial will provide valuable information towards a standard treatment option.</p><p class='black-text'><i>Apple Care</i></p><p class='black-text'>On Friday, Apple <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AAPL"><span style="color:#333">(</span><span style=";">AAPL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AAPL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AAPL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="AAPL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> in partnership with the White House Coronavirus Task Force and the U.S. Department of Health and Human Services, including Centers for Disease Control and Prevention,<a href="https://www.cdc.gov/media/releases/2020/s0327-statement-covid-19-apple-app.html"> released an app and website </a>with guidelines to help Americans determine if they should seek care for COVID-19 symptoms. The screening tool provides users with "CDC recommendations on next steps including guidances on social distancing and self-isolation, how to closely monitor symptoms, recommendations of testing, and when to contact a medical provider."</p><p class='black-text'>Users can download the free app via Apple's App Store or access the tool online at <a href="https://www.apple.com/covid19">www.apple.com/covid19</a>.</p> http://www.pws.io/coronavirus-update-us-cases-exceed-100000-boris-johnson-tests-positive Fri, 27 Mar 2020 19:34:41 -0400 Rachel Hemple ETF Weekly: Federal Reserve Buys Corporate Debt http://www.pws.io/etf-weekly-federal-reserve-buys-corporate-debt <p class='black-text'>The U.S. Federal Reserve has committed to do whatever it takes to help the economy amid the growing coronavirus outbreak. In upholding that commitment, the Fed responded to the steep drop in corporate bond prices, with some trading well below their net asset values, or below what investors were willing to pay.</p><p class='black-text'>Under a new program called the <a href="https://www.federalreserve.gov/monetarypolicy/smccf.htm">Secondary Market Corporate Credit Facility</a>, the central bank will go beyond buying U.S. Treasuries and for the first time ever begin buying investment-grade corporate debt in the form of Exchange-Traded Funds. However, the Fed's new purchasing agreement is not a buying spree, for the bank will be avoiding high yield ETFs like <b>iShares iBoxx $ High Yield Corporate Bond ETF</b> <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/HYG"><span style="color:#333">(</span><span style=";">HYG</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="HYG" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="HYG" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="HYG" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>. In addition, the Fed's outlines state that the central bank cannot own more than 20% of any one ETF or 10% of any individual corporate bond.</p><p class='black-text'>"It is unprecedented for the government of the United States to own the corporate debt obligations of the private enterprise in this country. This is new territory," Dave Nadig, chief investment officer and director of research at ETF Trends told <a href="https://www.cnbc.com/2020/03/24/coronavirus-fed-bond-buying-stimulus-effect-on-etf-market.html">CNBC</a>. "Short term, of course, we know that this means buying pressure that'll bring up the price of the ETFs.</p><p class='black-text'>The central bank's new support tactic is aimed to assist households and businesses by creating a continuous flow of credit. The debt buying, coupled with the stimulus package signed into law on Friday that is meant to support the economy through the addition of about $500 billion for backing loans and support for companies, has brought a great time to invest in corporate debt ETFs.</p><p class='black-text'><b>Some popular corporate debt ETFs: </b></p><p class='black-text'><b>iShares iBoxx $ Investment Grade Corporate Bond ETF </b><nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/LQD"><span style="color:#333">(</span><span style=";">LQD</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="LQD" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="LQD" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="LQD" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr></p><p class='black-text'>BlackRock's <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BLK"><span style="color:#333">(</span><span style=";">BLK</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BLK" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BLK" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="BLK" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> ETF recorded a return of +14.7% for the week and provides exposure to a large range of investment grade corporate bonds.</p><p class='black-text'><b>Vanguard Intermediate-Term Corporate Bond Index Fund ETF </b><nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/VCIT"><span style="color:#333">(</span><span style=";">VCIT</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="VCIT" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="VCIT" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="VCIT" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr></p><p class='black-text'>Like iShares, Vanguard's corporate bond ETF also trades with a large range of investment grade corporate bond. This ETF had a return of +8.91% this week.</p><p class='black-text'><b>PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund</b> <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/CORP"><span style="color:#333">(</span><span style=";">CORP</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="CORP" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="CORP" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="CORP" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr></p><p class='black-text'>This ETF offers an even boarder range of corporate bonds across the bond sector and was up +11.59% for the week.</p><p class='black-text'><b>SPDR Portfolio Long Term Corporate Bond ETF</b> <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SPLB"><span style="color:#333">(</span><span style=";">SPLB</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SPLB" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SPLB" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="SPLB" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr></p><p class='black-text'>State Street's <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/STT"><span style="color:#333">(</span><span style=";">STT</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="STT" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="STT" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="STT" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> ETF offers a range of long-term bonds and was up +19.29% this week.</p><p class='black-text'><b>iShares Long-Term Corporate Bond ETF </b><nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/IGLB"><span style="color:#333">(</span><span style=";">IGLB</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="IGLB" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="IGLB" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="IGLB" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr></p><p class='black-text'>BlackRock's version of a long-term corporate bond ETF was up +19.69% this week.</p> http://www.pws.io/etf-weekly-federal-reserve-buys-corporate-debt Fri, 27 Mar 2020 18:10:39 -0400 Rachel Hemple Market Update: Dow and S&P 500 Gain for the Week Despite Friday's Sell Off http://www.pws.io/market-update-dow-and-sp-500-gain-for-the-week-despite-fridays-sell-off <p class='black-text'>Stocks on Wall Street fell from their gains on Friday, despite the U.S. House of Representatives passing the anticipated $2 trillion economic relief package the Senate passed on Thursday. Even with the positivity the bill's passages brought to investors, many were not able to shake off the early morning report that <a href="http://www.sca.isr.umich.edu/">consumer sentiment had fallen the most since the 2008 financial criss in March</a>. However, the gains made during the week set the Dow Jones Industrial Average to record that best weekly gain since 1938; the Dow gained 12.8%. The S&P 500 Index was not far behind, with a weekly gain of 10.3%.</p><p class='black-text'><b>Here's how the market closed for the week: </b></p><p class='black-text'>S&P 500 Index <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SPY"><span style="color:#333">(</span><span style=";">SPY</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SPY" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SPY" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="SPY" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>: -3.37% or -88.6 points to 2,541.47</p><p class='black-text'>Dow Jones Industrial Average <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DIA"><span style="color:#333">(</span><span style=";">DIA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DIA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DIA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DIA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>: -4.06% or -915.39 points to 21,636.78</p><p class='black-text'>Nasdaq Composite Index <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/QQQ"><span style="color:#333">(</span><span style=";">QQQ</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="QQQ" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="QQQ" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="QQQ" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>: -3.79% or -295.16 points to 7,502.38</p><p class='black-text'>In Major Stock News, shares of the restaurant chain Cheesecake Factory <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/CAKE"><span style="color:#333">(</span><span style=";">CAKE</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="CAKE" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="CAKE" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="CAKE" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> dropped after the company announced its would let go 41,000 hourly works and cut pay for executives. Cheesecake Factory had already announced this week that it will not be able to pay rent for the next month due to the coronavirus outbreak. Shares of Hertz <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/HTZ"><span style="color:#333">(</span><span style=";">HTZ</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="HTZ" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="HTZ" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="HTZ" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> fell after a <a href="https://www.bloomberg.com/news/articles/2020-03-26/hertz-discussing-new-financing-with-barclays-led-group">Bloomberg report</a> found that the company has been talking to banks to raise cash to help offload the impact the coronavirus has had on the company. United Technologies <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/UTX"><span style="color:#333">(</span><span style=";">UTX</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="UTX" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="UTX" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="UTX" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Raytheon <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/RTN"><span style="color:#333">(</span><span style=";">RTN</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="RTN" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="RTN" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="RTN" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> were approved by the U.S. Justice Department to merge on Friday, though both stocks dropped after the announcement. Shares of oil exploration and production stocks--Apache <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/APA"><span style="color:#333">(</span><span style=";">APA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="APA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="APA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="APA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Devon Energy <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DVN"><span style="color:#333">(</span><span style=";">DVN</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DVN" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DVN" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DVN" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Halliburton <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/HAL"><span style="color:#333">(</span><span style=";">HAL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="HAL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="HAL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="HAL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>--have all fallen Friday as domestic crude prices continue to drop.</p><p class='black-text'>In Stock Sector News, every sector besides Utilities, who rose +0.52%, saw major performance losses during Friday's sell off. The sector declines were as follows: Energy -6.93%, Information Technology -4.61%, Industrials -4.33%, Communication Services -4.09%, Materials -3.81%, Consumer Discretionary -3.37%, Financials -3.31%, Health Care -2.41%, Consumer Staples -0.72% and Real Estate -0.07%.</p><p class='black-text'>Lastly, in Commodity and Currency News, crude oil prices posted their fifth straight week of losses on Friday. West Texas Intermediate <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/USO"><span style="color:#333">(</span><span style=";">USO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="USO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="USO" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="USO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> dropped almost -6% on Friday and Brent Crude <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BNO"><span style="color:#333">(</span><span style=";">BNO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BNO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BNO" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="BNO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> slid even more by -7%, bringing barrel prices to a new low of $21-$25 each. Gold <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GLD"><span style="color:#333">(</span><span style=";">GLD</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GLD" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GLD" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GLD" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> also fell during Friday's sell-off, with the metal's ounce price declining -0.18% to cost about $1,629. Finally, the U.S. Dollar <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/UUP"><span style="color:#333">(</span><span style=";">UUP</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="UUP" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="UUP" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="UUP" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> continues to drop as the week closes, with the DXY Index sliding -1.15%.</p> http://www.pws.io/market-update-dow-and-sp-500-gain-for-the-week-despite-fridays-sell-off Fri, 27 Mar 2020 15:09:07 -0400 Rachel Hemple Superstocks in a Time of Uncertainty http://www.pws.io/superstocks-in-a-time-of-uncertainty <p class='black-text'>Although recessions and bear markets aren't fun for anyone, they do give an opportunity for companies and stocks to differentiate themselves. It's natural to want to focus on the stocks with the biggest declines. They will certainly have massive bounces when conditions improve, however these steep losses often indicate some underlying problem in the business. An example is restaurant and retail stocks which have seen steeper declines than hotels, airlines, and casinos.</p><p class='black-text'>It's also savvy to watch the stocks that show relative strength during these times. While the market makes lower lows, they make higher lows. When market conditions improve, they will be the first to make new highs. In 2008 focusing on the weakest stocks would have left you with banks and homebuilders which lagged for many parts of the bull market. The strongest stocks included companies like Netflix <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/NFLX"><span style="color:#333">(</span><span style=";">NFLX</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="NFLX" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="NFLX" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="NFLX" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Amazon <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AMZN"><span style="color:#333">(</span><span style=";">AMZN</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AMZN" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AMZN" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="AMZN" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, and Apple <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AAPL"><span style="color:#333">(</span><span style=";">AAPL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AAPL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AAPL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="AAPL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>.</p><p class='black-text'>These stocks made new highs in late 2009 or early 2010, while the S&P 500 didn't make a new high till 2013. Therefore while active traders may attempt to pick bottoms in beaten-down stocks that will have violent bounces, longer-term investors should use this time to narrow down a list of candidates. Previous articles have mentioned stocks like Teladoc <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/TDOC"><span style="color:#333">(</span><span style=";">TDOC</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="TDOC" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="TDOC" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="TDOC" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Zoom Communications <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/ZM"><span style="color:#333">(</span><span style=";">ZM</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="ZM" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="ZM" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="ZM" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> which could thrive in the "social distancing" environment. Here are some other candidates:</p><p class='black-text'><i>Healthcare and Biotech </i></p><p class='black-text'>Healthcare and biotech are well-positioned to thrive. The coronavirus outbreak has highlighted the shortcomings in the country's healthcare infrastructure. And it's likely that these holes will be patched up in the coming years which will drive a spending boom for the industry. It will also drive more investment in research & development for vaccines and treatments.</p><p class='black-text'>The mishandling of the outbreak and subsequent recession have dampened President Trump's reelection odds and increased odds of Democrats winning Senate seats. This is also positive for these sectors. Defense stocks tend to do well with Republican administrations, while healthcare spending is prioritized under Democrats. Two stocks showing particular strength are Gilead <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GILD"><span style="color:#333">(</span><span style=";">GILD</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GILD" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GILD" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GILD" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Regeneron <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/REGN"><span style="color:#333">(</span><span style=";">REGN</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="REGN" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="REGN" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="REGN" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>.</p><p class='black-text'><i>Big Box Retailers</i></p><p class='black-text'>Another area of the market that's outperforming are big-box retailers like Costco <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/COST"><span style="color:#333">(</span><span style=";">COST</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="COST" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="COST" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="COST" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Walmart <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/WMT"><span style="color:#333">(</span><span style=";">WMT</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="WMT" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="WMT" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="WMT" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Target <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/TGT"><span style="color:#333">(</span><span style=";">TGT</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="TGT" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="TGT" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="TGT" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, and Kroger <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/KR"><span style="color:#333">(</span><span style=";">KR</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="KR" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="KR" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="KR" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>. The panic has led to a surge in buying food, toilet paper, cleaning supplies, and other essentials that are leading to a spike in short-term sales. Beyond this, the companies are well-positioned to take advantage of the weakness in the rest of the retail sector as smaller competitors may go bankrupt due to the current situation and probable recession.</p> http://www.pws.io/superstocks-in-a-time-of-uncertainty Fri, 27 Mar 2020 14:10:09 -0400 Jaimini Desai COVID-19 Infections Reported at Numerous Amazon Warehouses http://www.pws.io/covid-19-infections-reported-at-numerous-amazon-warehouses <p class='black-text'>Warning bells are being sounded about Amazon's <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AMZN"><span style="color:#333">(</span><span style=";">AMZN</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AMZN" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AMZN" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="AMZN" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> safety practices during the coronavirus, or COVID-19, pandemic after confirmed cases have been reported at 10 of the online retail giant's distribution centers.</p><p class='black-text'>Confirmed cases of the coronavirus have been reported at ten different Amazon distribution centers; on Tuesday, employees at Amazon's Moreno Valley, California facility were <a href="https://www.nbcnews.com/tech/tech-news/amazon-s-largest-warehouse-hub-has-coronavirus-case-workers-say-n1169946">only informed once they had arrived at work</a> that co-workers had tested positive for the coronavirus. According to two employees speaking to NBC on the condition of anonymity, <a href="https://www.nbcnews.com/tech/tech-news/amazon-s-largest-warehouse-hub-has-coronavirus-case-workers-say-n1169946">there are no plans to close the distribution center</a>.</p><p class='black-text'>On Wednesday, <a href="https://www.silive.com/coronavirus/2020/03/si-amazon-worker-with-coronavirus-quarantined-what-protocols-are-in-place.html">Amazon had similarly announced</a> that an employee at its Staten Island, New York distribution center had tested positive, and confirmed that they had entered quarantine. On Monday, Amazon had confirmed that three workers at its distribution center in Shepherdsville, Kentucky, had tested positive as well. While Amazon has temporarily closed its Shepherdsville and Queens facilities, it has <a href="https://www.wfla.com/community/health/coronavirus/amazon-workers-at-9-warehouses-test-positive-for-coronavirus/">stated an intention to avoid mass closures</a>.</p><p class='black-text'>"Much of the essential work we do cannot be done from home," <a href="https://www.wfla.com/community/health/coronavirus/amazon-workers-at-9-warehouses-test-positive-for-coronavirus/">said CEO Jeff Bezos</a>, "We've implemented a series of preventative health measures for employees and contractors at our sites around the world - everything from increasing the frequency and intensity of cleaning to adjusting our practices in fulfillment centers to ensure the recommended social distancing guidelines."</p><p class='black-text'>Workers have voiced concerns regarding Amazon's refusal to close warehouses and what they see as the company not taking the pandemic seriously and ignoring the welfare of its employees. Two workers who spoke to NBC mentioned that there was <a href="https://www.nbcnews.com/tech/tech-news/amazon-s-largest-warehouse-hub-has-coronavirus-case-workers-say-n1169946">no paid time off being offered</a> for employees afraid to come into work and that while they would not lose their jobs by staying home, they did so at their own cost. Concern had been raised about the lack of information available at the Moreno Valley facility, with some workers not learning about the infections until after their shifts had ended.</p><p class='black-text'>Internal support for warehouse workers, as well as those in Amazon's data centers and employees at Whole Foods branches, can be found among the company's tech workers who have had the luxury of working at home. Tech workers circulated a letter voicing their support for their co-workers and decrying what they saw as an apathetic attitude by Amazon towards its workers. "Even as office workers are asked to work from home, Amazon's measures to protect FC (fulfillment center) and DC (data center) workers, as well as shop floor workers at Whole Foods, have ranged from inadequate to openly negligent," <a href="https://www.nbcnews.com/tech/tech-news/amazon-s-largest-warehouse-hub-has-coronavirus-case-workers-say-n1169946">says the letter</a>.</p><p class='black-text'>An additional concern has circulated on social media, where consumers have voiced their worries about packages received from Amazon, which they fear might carry the coronavirus.</p> http://www.pws.io/covid-19-infections-reported-at-numerous-amazon-warehouses Fri, 27 Mar 2020 10:37:55 -0400 Michael Mooney How Streaming Services are Handling the Pandemic http://www.pws.io/how-streaming-services-are-handling-the-pandemic <p class='black-text'>With world governments enacting various social distancing mandates and ordering citizens to stay home to limit the spread of the coronavirus, or COVID-19, many are finding themselves stuck at home. Worldwide internet traffic is up as users try to occupy themselves, with streaming services being inundated to the point of some experiencing service outages and slowdowns. The traffic to streaming services and the heavy burden on internet services have presented a unique challenge to overcome.</p><p class='black-text'>The massive surge in the usage of streaming services by consumers stuck at home has eaten up a large percentage of available bandwidth, which so far is being felt the most in Europe. To free up bandwidth, <a href="https://www.businessinsider.com/netflix-is-down-outage-issues-reported-us-uk-coronavirus-outbreak-2020-3">European authorities began pushing streaming services</a> to act accordingly and reduce their bandwidth usage.</p><p class='black-text'>Acting in accordance with the desires of E.U. regulators, many streaming services and social media sites have begun reducing streaming quality to lessen bandwidth usage. Disney <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DIS"><span style="color:#333">(</span><span style=";">DIS</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DIS" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DIS" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DIS" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> is set to reduce streaming quality for its Disney+ service across Europe for countries that already possess it and will be delaying the release of Disney+ in France, at the request of the French government. While Disney+ is set to release in other countries such as the U.K., it is <a href="https://marketingland.com/social-platforms-cut-streaming-quality-as-social-distancing-wages-on-278226">currently unknown if they will face similar delays</a>. Disney is joined by Facebook <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/FB"><span style="color:#333">(</span><span style=";">FB</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="FB" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="FB" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="FB" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, which will be reducing streaming quality for all videos hosted on its website, and Amazon <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AMZN"><span style="color:#333">(</span><span style=";">AMZN</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AMZN" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AMZN" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="AMZN" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, which will be reducing the streaming quality for its Amazon Prime video service.</p><p class='black-text'>YouTube (parent company Alphabet, <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GOOGL"><span style="color:#333">(</span><span style=";">GOOGL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GOOGL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GOOGL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GOOGL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> had previously announced similar measures to Facebook and Disney in Europe but is now set to reduce quality worldwide. The default quality of all YouTube videos will be reduced to 480p, but users still have the option to raise video quality.</p><p class='black-text'>According to an anonymous inside source who spoke with Bloomberg, Netflix <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/NFLX"><span style="color:#333">(</span><span style=";">NFLX</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="NFLX" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="NFLX" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="NFLX" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> is following suit with its contemporaries but is approaching the issue differently, opting for a <a href="https://www.bloomberg.com/news/articles/2020-03-25/netflix-reduces-video-quality-in-more-countries-to-handle-surge">case-by-case approach rather than a broad approach</a>. Netflix has already reduced its bitrate in India, Australia, and several South American countries. Netflix may be feeling the strain of such high traffic; however, as users across the United States and Europe <a href="https://www.businessinsider.com/netflix-is-down-outage-issues-reported-us-uk-coronavirus-outbreak-2020-3">reported mass outages on Wednesday</a>.</p> http://www.pws.io/how-streaming-services-are-handling-the-pandemic Fri, 27 Mar 2020 10:23:23 -0400 Michael Mooney Coronavirus Update: United States Becomes COVID-19 Epicenter http://www.pws.io/coronavirus-update-united-states-becomes-covid-19-epicenter <p class='black-text'>The United States on Thursday surpassed the confirmed number of COVID-19 cases recorded by China, the nation were the outbreak began. With the third most populous country surpassing 83,000 cases, the United States has now become the epicenter of the world.</p><p class='black-text'>There have been mixed messages from the Trump administration about the severity of the virus and extent of the stay-at-home policies that more than a third of the nation is under. The full number of cases cannot be quantified due to the nation's slow jump to action in testing. Now the United States in under a bigger threat: the shortage of masks and protective gear for health care workers as well as desperately needed ventilators.</p><p class='black-text'><b>Total Global Cases:</b> Over 520,000</p><p class='black-text'><b>Total Deaths:</b> At Least 23,000</p><p class='black-text'><b>Total Recovered: </b>At Least 123,000</p><p class='black-text'><i>Emergency Protocol </i></p><p class='black-text'>The growing outbreak in New York, the state with the most confirmed cases at over 37,000, has led to doctors trying emergency procedures to combat the great influx of intensive care patients.</p><p class='black-text'>A hospital system in Manhattan has <a href="https://www.nytimes.com/2020/03/26/health/coronavirus-ventilator-sharing.html">begun treating two patients</a> at a time on one ventilator, a desperate measure to help treat more patients despite the shortage of the critical breathing machine.</p><p class='black-text'>According to the <a href="https://www.nytimes.com/2020/03/26/health/coronavirus-ventilator-sharing.html">New York Times</a>, ventilator sharing has only been used twice in crisis situations in the United States: after the 2017 Las Vegas shooting and by Dr. Marco Garrone to help treat the coronavirus. This is the first known time that this emergency protocol is being used as a long term strategy in the United States.</p><p class='black-text'>New York Governor Andrew Cuomo has approved the method on Thursday. In addition, the U.S. Food and Drug Administration has approved the use of a device called VESper which adapts one ventilator to be able to use on up to four patients.</p><p class='black-text'><i>Presidential Orders</i></p><p class='black-text'>On Thursday, President Donald Trump <a href="https://www.npr.org/2020/03/26/822049287/read-president-trumps-letter-to-governors-on-new-coronavirus-guidelines">issued a letter to governors</a> where he laid out his vision for the "next phase" in the war on the coronavirus pandemic. Trump outlined in his letter that his administration planned to develop criteria to "help classify counties with respect to continued risks posed by," the coronavirus.</p><p class='black-text'>Counties across the 50 states would be divided into three categories of risk: low, medium and high. The categories of risk would be accompanied by guidelines for policymakers to make decision whether to maintain, decrease, or increase their own coronavirus halting measures.</p><p class='black-text'>Trump is still anticipating the United States to restart on April 12, a move that health officials have warned could lead to tens of thousand of additional infections.</p><p class='black-text'><i>No Jobs</i></p><p class='black-text'>The U.S. Department of Labor reported that in the week ending March 21 the United States jobless claims exceeded 3.2 million. The record breaking spike was within the range that economists had predict, though it surpassed many expectations and shows the start of the economic impact brought by the coronavirus.</p><p class='black-text'>"This morning's data leaves no doubt that the economy is currently in a recession, <a href="https://www.bloomberg.com/news/articles/2020-03-26/u-s-jobless-claims-surged-to-record-3-28-million-last-week">said Matthew Luzzetti</a>, chief U.S. economist at Deutsche Bank AG <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DB"><span style="color:#333">(</span><span style=";">DB</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DB" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DB" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DB" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>.</p><p class='black-text'>However, Treasury Secretary Steven Mnuchin was not worried about the record-setting unemployment filing numbers, stating that they <a href="https://www.cnbc.com/2020/03/26/coronavirus-jobs-update-mnuchin-says-unemployment-not-relevant.html">"right not aren't relevant." </a>Mnuchin believes that the $2 trillion stimulus package that is moving through Capital Hill will be help alleviate the income losses and other financial impact from the pandemic.</p><p class='black-text'>Make sure to stay up-to-end on news and confirmed case numbers on our <a href="https://covid19.pws.io/">Live Coronavirus Tracker</a>.</p> http://www.pws.io/coronavirus-update-united-states-becomes-covid-19-epicenter Thu, 26 Mar 2020 18:24:49 -0400 Rachel Hemple Market Update: Stocks Soar Despite Record Unemployment Claims http://www.pws.io/market-update-stocks-soar-despite-record-unemployment-claims <p class='black-text'>Despite historic weekly jobless claims, Wall Street surged again on Thursday as optimism surrounding the Senate's economic stimulus package influenced trading. The Department of Labor's weekly unemployment claims report showed a <a href="https://www.dol.gov/ui/data.pdf">record 3.28 million number of claims</a> for the week ending March 21, which was far more than what many economists had expected and far above the number of claims after the 2008 financial crisis.</p><p class='black-text'><b>Here's how the market closed on its third-straight day of gains:</b></p><p class='black-text'>S&P 500 Index <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SPY"><span style="color:#333">(</span><span style=";">SPY</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SPY" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SPY" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="SPY" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>: +6.24% or +154.51 points to 2,630.07</p><p class='black-text'>Dow Jones Industrial Average <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DIA"><span style="color:#333">(</span><span style=";">DIA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DIA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DIA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DIA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>: +6.38% or +1,351.62 points to 22,552.17</p><p class='black-text'>Nasdaq Composite Index <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/QQQ"><span style="color:#333">(</span><span style=";">QQQ</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="QQQ" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="QQQ" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="QQQ" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>: +5.60% or +413.24 points to 7,797.54</p><p class='black-text'>In Major Stock News, Slack <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/WORK"><span style="color:#333">(</span><span style=";">WORK</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="WORK" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="WORK" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="WORK" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> CEO Stewart Butterfield boasted on <a href="https://twitter.com/stewart/status/1243000487365861376">Twitter </a><nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/TWTR"><span style="color:#333">(</span><span style=";">TWTR</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="TWTR" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="TWTR" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="TWTR" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> Thursday that the software company was seeing a "demand surge" due to the coronavirus. Boeing <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BA"><span style="color:#333">(</span><span style=";">BA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="BA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> jumped again on Thursday, bringing its gains for the week so far to 91%. UnitedHealth <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/UNH"><span style="color:#333">(</span><span style=";">UNH</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="UNH" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="UNH" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="UNH" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares climbed after the insurer said a self-administered COVID-19 test is in development. Henry Schein <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/HSIC"><span style="color:#333">(</span><span style=";">HSIC</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="HSIC" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="HSIC" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="HSIC" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> also gained after the health care company announced a new coronavirus antibody test is available.</p><p class='black-text'>In Stock Sector News, for the first time this week, every sector posted performance gains on Thursday. The gains were as follows: Utilities +8.39%, Real Estate +7.81%, Health Care +6.98%, Financials +6.43%, Industrials +6.41%, Information Technology +6.35%, Energy +6.05%, Communication Services +6.05%, Consumer Staples +5.67%, Materials +4.94% and Consumer Discretionary +4.30%.</p><p class='black-text'>Lastly, in Commodity and Currency News, crude oil prices dropped again as demand dwindles. West Texas Intermediate <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/USO"><span style="color:#333">(</span><span style=";">USO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="USO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="USO" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="USO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shedded -4.65% off its barrel price and Brent Crude <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BNO"><span style="color:#333">(</span><span style=";">BNO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BNO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BNO" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="BNO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> dropped -1.85%, bring crude barrel prices to $23-$27 each. Gold <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GLD"><span style="color:#333">(</span><span style=";">GLD</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GLD" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GLD" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GLD" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> prices increased by +1.52%, bring the yellow metal's price to about $1,636 per ounce. Finally, the U.S. Dollar <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/UUP"><span style="color:#333">(</span><span style=";">UUP</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="UUP" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="UUP" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="UUP" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> fell on Thursday, with the DXY Index dropping -1.45%.</p> http://www.pws.io/market-update-stocks-soar-despite-record-unemployment-claims Thu, 26 Mar 2020 15:57:35 -0400 Rachel Hemple J.C. Penney Sales Continue to Decline, More Store Locations Closing http://www.pws.io/jc-penney-sales-continue-to-decline-more-store-locations-closing <p class='black-text'>After reporting no quarterly gains since holiday season 2017, J.C. Penney <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/JCP"><span style="color:#333">(</span><span style=";">JCP</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="JCP" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="JCP" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="JCP" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> will close six stores and one call center with "<a href="https://www.usatoday.com/story/money/2020/01/17/jcpenney-store-closings-2020-stores-closing-april/4505536002/" target="_blank">an effective closing date of April 24</a>" of this year. News to close additional stores comes after last year when J.C. Penney made an announcement that it would shut nine furniture stores and 18 department stores.</p><p class='black-text'>Locations getting the cut this time around are as follows: Missoula, Montana (Southgate Mall), Myrtle Beach, South Carolina (Myrtle Beach Mall), Akron, Ohio (Chapel Hill Mall), Raleigh, North Carolina (North Hills Shopping Center), Tulsa, Oklahoma (Tulsa Promenade), Valley Stream, New York (Green Acres Mall), and Lenexa, Kansas (call center).</p><p class='black-text'>"This decision is the result of a careful and ongoing review of our store portfolio," said Brooke Buchanan, J.C. Penney's senior vice president of communications, in a statement. "It's never easy to close a store, however, we feel <a href="https://www.cnbc.com/2020/01/21/jc-penney-is-closing-6-stores-this-year-heres-where-they-are.html" target="_blank">this is a necessary business decision</a>."</p><p class='black-text'>In large part, the move to close six additional stores is part of J.C. Penney's ongoing efforts to respond to continual losses, particularly during the holiday shopping season. Net income in the fourth quarter was down a staggering 64% compared to the year before, resulting in J.C. Penney's total income for the year to drop by 5%.</p><p class='black-text'>One possibility for J.C. Penney to turn itself around is to completely rebrand itself as Penney's, which the company is currently testing out in a Hurst, Texas store. In addition to the new name, remodeling in the Texas store includes a different appeal with additions like a video game lounge and yoga studio.</p><p class='black-text'>This latest cut still leaves J.C. Penney at roughly 850 stores, however that's down from over 1,100 locations since 2010. In fact, department stores across the board, Macy's <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/M"><span style="color:#333">(</span><span style=";">M</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="M" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="M" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="M" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> as one example, have been closing locations at record rates while being hit by retail competitors like Target <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/TGT"><span style="color:#333">(</span><span style=";">TGT</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="TGT" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="TGT" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="TGT" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Walmart <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/WMT"><span style="color:#333">(</span><span style=";">WMT</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="WMT" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="WMT" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="WMT" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, and Costco <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/COST"><span style="color:#333">(</span><span style=";">COST</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="COST" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="COST" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="COST" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, not to mention the ubiquitous online retail giant Amazon <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AMZN"><span style="color:#333">(</span><span style=";">AMZN</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AMZN" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AMZN" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="AMZN" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>.</p><p class='black-text'>Indeed, J.C. Penney is no exception to this restructuring trend and no doubt has a turbulent road ahead, even notwithstanding the growing national response to concerns over the coronavirus (COVID-19) pandemic. Many businesses currently have temporary closings or limited hours to help slow the spread. As of March 18, J.C. Penney has temporarily closed its offices and stores with the expectation to reopen on April 2.</p> http://www.pws.io/jc-penney-sales-continue-to-decline-more-store-locations-closing Thu, 26 Mar 2020 11:36:03 -0400 Rebecca O'Bern Gas Prices Plummet to 90’s and 80’s Lows http://www.pws.io/gas-prices-plummet-to-90s-and-80s-lows <p class='black-text'>The national average for gas prices in the United States has hovered around $2 as the global demand to travel plummets, and the already oversupplied market continues to flood with oil due to the lack of substantive actions by OPEC and Russia. With the price-per-barrel at unexpected lows, some areas of the country are reporting gas prices not seen since the 1990s and 1980s.</p><p class='black-text'><a href="https://gasprices.aaa.com/">According to AAA</a>, at the time of writing, the national average for gas was $2.089. A quick scan through the map reveals national averages hovering around $2 and the high $1 range, with the lowest average being in Oklahoma at $1.6 and the highest being in California at $3.1.</p><p class='black-text'>Gas prices in areas of Michigan are as <a href="https://www.detroitnews.com/story/business/2020/03/24/michigan-gas-prices-fall-lowest-four-years-and-could-drop-further/2909632001/">low as $1.23</a>, while in Ohio, one of the lowest reported prices was <a href="https://www.news5cleveland.com/news/state/gas-prices-in-ohio-average-1-76-per-gallon-some-of-the-lowest-prices-since-2016">$1.08</a>. Oklahoma City, however, currently has the lowest reported gas prices, with some gas stations as selling gas at as cheap as <a href="https://riverheadnewsreview.timesreview.com/2020/03/99094/gas-prices-could-dip-to-lowest-point-since-2002-as-people-shelter-at-home-during-covid-19-pandemic/">90 cents per gallon</a>, prices that have not been seen since the 1980s.</p><p class='black-text'>The primary cause of gas prices being driven to record lows is the global supply glut; while the Coronavirus pandemic has contributed to the over saturation of the market due to a worldwide decline in travel demand, the supply glut can be <a href="https://www.pws.io//exxon-mobile-profits-and-revenue-down-in-q3">traced back to the Sino-American Trade War</a>, which caused oil supplies to accumulate due to the lessened export volume to China. With new cases in the United States and many other countries abroad growing at an exponential rate, demand will likely continue to remain low. Also, the lack of comprehensive action by OPEC+ and the ongoing price war between Russia and Saudi Arabia will likely only exacerbate an oversaturated market and dismally low prices.</p><p class='black-text'>What this means for consumers, of course, is astronomically low prices. While some areas already have prices as low as 90 cents, such prices could become far more common throughout the country, according to Patrick DeHaan of GasBuddy.com.</p><p class='black-text'>"Gas prices have spent virtually all of March marching lower, with the drop continuing as the coronavirus destroys oil demand globally, leading to the lowest oil prices we've seen in 18 years," <a href="https://www.gasbuddy.com/go/gas-price-report-march-23-2020/">says DeHaan</a>. "I don't think I've ever seen such a collapse in prices, even including the Great Recession... Gas stations are passing along the drop several weeks behind, and there's plenty more room for prices to drop, putting 99 cents per gallon prices as a strong possibility for perhaps many more stations than we previously anticipated."</p><p class='black-text'>As of last week, the <a href="https://www.gasbuddy.com/go/gas-price-report-march-23-2020/">price-per-barrel for oil dropped to $20</a>. West Texas Intermediate <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/USO"><span style="color:#333">(</span><span style=";">USO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="USO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="USO" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="USO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> was down to $22.22, while Brent Crude <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BNO"><span style="color:#333">(</span><span style=";">BNO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BNO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BNO" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="BNO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> was down to $25.54.</p> http://www.pws.io/gas-prices-plummet-to-90s-and-80s-lows Thu, 26 Mar 2020 11:33:38 -0400 Michael Mooney Despite Contradictory Proof, E.U. to Fight U.S. Takeover of Coronavirus Vaccine Developers http://www.pws.io/despite-contradictory-proof-eu-to-fight-us-takeover-of-coronavirus-vaccine-developers <p class='black-text'>Despite denials by the U.S. government and the vaccine company itself, some media sources are reporting that the Trump Administration attempted to convince German vaccine producer CureVac to move their operations to the U.S. to ensure the COVID-19 vaccine was "only for the United States."</p><p class='black-text'><a href="https://www.reuters.com/article/us-health-coronavirus-germany-usa/germany-tries-to-stop-u-s-from-luring-away-firm-seeking-coronavirus-vaccine-idUSKBN2120IV">On March 15</a>, Reuters reported that German media claimed President Donald Trump had attempted a takeover of CureVac. Reuters says they were contacted by German government sources who told them the U.S. government was trying to gain access to a potential vaccine. A German newspaper, Welt am Sonntag, also reported that President Trump had offered to pay CureVac "large sums" of money to lure them to the U.S. and that the German government was making counter-offers.</p><p class='black-text'>Since the story was first reported, several sources have come forward to deny it. U.S. ambassador to Germany, Richard Grenell tweeted a response to the article published in Welt am Sonntag.</p><p class='black-text'>"Not true. The Welt story was wrong. But Business Insider, Reuters and others went with it anyway despite not having their own sources. Now everyone is back peddling," <a href="https://twitter.com/RichardGrenell/status/1239248345329274881">Grenell tweeted</a>.</p><p class='black-text'>Another U.S. official quoted by Reuters said "This story is wildly overplayed ... We will continue to talk to any company that claims to be able to help. And any solution found would be shared with the world."</p><p class='black-text'>Welt am Sonntag did not identify the German government source who claimed Trump was trying to gain sole access to the vaccine for Americans. A German Health Ministry spokeswoman told the newspaper, "The German government is very interested in ensuring that vaccines and active substances against the new coronavirus are also developed in Germany and Europe."</p><p class='black-text'>"In this regard, the government is in intensive exchange with the company CureVac," she clarified. Statements by this spokesperson are the only quotes that have been confirmed by the German government.</p><p class='black-text'><a href="https://www.curevac.com/news/curevac-focuses-on-the-development-of-mrna-based-coronavirus-vaccine-to-protect-people-worldwide">CureVac released a statement</a>, also on March 15, addressing the rumors. Due to their intent to "help and to protect people and patients worldwide," CureVac says they are in contact with authorities across the globe.</p><p class='black-text'>"The company is in contact with especially CEPI and many other organizations and authorities worldwide, however abstains from commenting on speculations and rejects allegations about offers for acquisition of the company or its technology," the statement reads.</p><p class='black-text'><a href="https://www.theguardian.com/us-news/2020/mar/15/trump-offers-large-sums-for-exclusive-access-to-coronavirus-vaccine">In a strange twist,</a> CureVac's then CEO Daniel Menichella, a U.S. citizen, met with Trump and Vice President Mike Pence in the White House on March 2 and left the company on March 11. <a href="https://www.globenewswire.com/news-release/2020/03/11/1998980/0/en/Company-Founder-Ingmar-Hoerr-Succeeds-Daniel-Menichella-as-CEO-of-CureVac-AG.html">Menichella was replaced</a> by CureVac's founder, Ingmar Hoerr. This could potentially be a sign of U.S. poaching, but there isn't sufficient proof to say so definitively.</p><p class='black-text'><a href="https://www.voanews.com/science-health/coronavirus-outbreak/german-coronavirus-vaccine-developer-denies-us-bid">When asked about the meeting</a> between CureVac execs and the White House, the majority shareholder of CureVac, SAP co-founder Dietmar Hopp implied that an offer may have been made for the company during that meeting.</p><p class='black-text'>"He (Trump) spoke to the company and I was told about it immediately and was asked what I made of it and I knew immediately this was out of the question," Hopp was quoted by German sports broadcaster Sport1.</p><p class='black-text'>In sharp contrast to that suggestive quote by Hopp, a spokesperson for CureVac <a href="https://www.nbcnews.com/news/us-news/germany-tries-stop-trump-luring-away-firm-working-coronavirus-vaccine-n1159426">denied that the Administration had ever made an offer</a> for the company.</p><p class='black-text'>"To make it clear again on coronavirus: CureVac has not received from the U.S. government or related entities an offer before, during and since the Task Force meeting in the White House on March 2. CureVac rejects all allegations from press," a spokesperson for CureVac said.</p><p class='black-text'>Since the story was first reported, the European Union has <a href="https://www.reuters.com/article/us-health-coronavirus-eu-usa/eu-seeks-to-prevent-u-s-takeovers-of-coronavirus-research-firms-idUSKBN2142G1">held a videoconference call</a> on how to react to potential takeovers by other countries of E.U. research companies though it's unclear if the call established any changes.</p><p class='black-text'>"Leaders will discuss what can be done against hostile takeovers by U.S. companies in the research field," a diplomat said.</p><p class='black-text'>Referring to the purpose of the conference call, an E.U. official told Reuters, "This is not just about CureVac. Many other companies are concerned... There is very intense contact between companies and member states. We are looking at a way forward together."</p> http://www.pws.io/despite-contradictory-proof-eu-to-fight-us-takeover-of-coronavirus-vaccine-developers Thu, 26 Mar 2020 11:31:40 -0400 Autumn McLain Danaher to Acquire GE’s Biopharma Branch for $21.4 Billion http://www.pws.io/danaher-to-acquire-ges-biopharma-branch-for-214-billion <p class='black-text'>Recently, the Federal Trade Commission (FTC) has <a href="https://www.reuters.com/article/us-gebiopharma-m-a-danaher/danaher-wins-u-s-approval-to-buy-ge-biopharma-with-conditions-idUSKBN21646Y">approved the purchase</a> of General Electric's <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GE"><span style="color:#333">(</span><span style=";">GE</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GE" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GE" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GE" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> bio-pharma division by Danaher Corp. <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DHR"><span style="color:#333">(</span><span style=";">DHR</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DHR" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DHR" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DHR" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>. The deal will cost Danaher $21.4 billion. <a href="https://finance.yahoo.com/news/danaher-dhr-poised-gain-buyouts-133101347.html">Danaher is an international conglomerate</a> based in Washington DC. that provides products and services for professional, commercial, industrial, and medical use.</p><p class='black-text'>This deal has been in the works for months now. It received approval from the EU in December, and South Korean's anti-trust watchdog ok'd the deal in February provided that Danaher seal off some of their assets.</p><p class='black-text'>The FTC has included a similar provision in its approval of the deal. In order to avoid violations of anti-trust laws, Danaher must sell off 10 of its products: micro-carrier beads, five chromatography products, and a filtration system used in cell growth. These products will be sold to German-based Sartorius AG <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SARTF"><span style="color:#333">(</span><span style=";">SARTF</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SARTF" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SARTF" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="SARTF" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, an international supplier of laboratory and pharmaceutical equipment.</p><p class='black-text'>Sartorius is a Danaher competitor and the current leader in the field of supplying bioprocessing tools and equipment. Danaher hopes <a href="https://www.fool.com/investing/2020/01/29/with-ge-deal-complete-danaher-becomes-the-leader-i.aspx">their purchase of GE's biopharma division</a> will help them compete.</p><p class='black-text'>"The value from this transaction will fortify our considerable sources to de-risk our balance sheet and continue to solidify our financial position," GE CEO Lawrence Culp said in a statement.</p><p class='black-text'>Danaher was in a strong economic position at the beginning of 2020. Adjusted earnings per share for the coming year are forecasted to reach $4.80-$4.90 compared to 2019's reported $4.42. Tempering these gains was a 4.5% increase in the cost of sales year-over-year in the fourth quarter of 2019.</p><p class='black-text'>This isn't the only acquisition Danaher has made recently. Danaher acquired DNA Technologies and Blue Software in mid-2018 and Labcyte Corporation in early 2019. Sales growth was increased by 1% in 2019 thanks to these acquired assets. In addition to Danaher's acquisitions, the company also divested from its dental business in 2019 in an effort to boost shareholder value.</p><p class='black-text'>GE, <a href="https://www.nasdaq.com/articles/why-is-ge-ge-down-18.4-since-last-earnings-report-2020-02-28">on the other hand</a>, saw a year-over-year decline of 1.9% in consolidated revenues in 2019. Unlike Danaher, GE has been experiencing a drop in the cost of sales of 7.3% year-over-year. The sell-off of GE's bio-pharma division seems to be the next step in their plan to focus on aviation, power, and renewable energy announced in mid-2018. Also in keeping with this plan, in the first quarter of 2019, GE sold its transportation business to Wabtec Corporation.</p><p class='black-text'>The deal between GE and Danaher is expected to be closed on March 31.</p> http://www.pws.io/danaher-to-acquire-ges-biopharma-branch-for-214-billion Thu, 26 Mar 2020 11:04:36 -0400 Autumn McLain Coronavirus Update: Countries Ask For Stimulus as the World Enters Lockdown http://www.pws.io/coronavirus-update-countries-ask-for-stimulus-as-the-world-enters-lockdown <p class='black-text'>"The pandemic continues to take a massive toll," World Health Organization's Director-General Tedros Adhanom Ghebreyesus stated in the WHO's press briefing on Wednesday. "We have overcome many pandemics and crises before. We will overcome this one, too. The question is how large a price we will pay."</p><p class='black-text'><b>Total Global Cases:</b> Over 460,000</p><p class='black-text'><b>Total Deaths:</b> At Least 21,000</p><p class='black-text'><b>Total Recovered:</b> At Least 113,000</p><p class='black-text'>As the number of global coronavirus cases increases, more and more of the world is entering lockdown. People around the world are also overloading supply changes as many begin hoarding food, sanitary goods and medicine out of fear of a longer fallout from the outbreak.</p><p class='black-text'>With the world shutting down, the United States President Donald Trump continues to worry about the closure to the world's largest economy. Trump <a href="https://twitter.com/realDonaldTrump/status/1242905328209080331">tweeted</a> on Wednesday: "The LameStream Media is the dominant force in trying to get me to keep out Country closed as long as possible in the hope that it will be detrimental to my election success. The real people want to get back to work ASAP. We will be stronger than every before!"</p><p class='black-text'><i>Economic Crisis</i></p><p class='black-text'>The U.S. Senate and Trump administration came to an agreement on the terms of the now <a href="https://www.washingtonpost.com/business/2020/03/25/trump-senate-coronavirus-economic-stimulus-2-trillion/">$2 trillion relief stimulus bill </a>that aims at easing the economic impact that the coronavirus has brought on the United States. The Senate is poised to vote on the final draft of the bill as soon as possible, though some Senators have announced that they may block the bill due to ongoing disagreements on how the funds will be distributed.</p><p class='black-text'>The bill has yet to be published, but officials have reported that the bill contains direct payments of up to $1,200 for American citizens, $350 billion in loans for small businesses and $500 billion in aid to airlines and large corporations that are deemed to be important to national security.</p><p class='black-text'>Treasury Secretary Steven Mnuchin stated during the President's daily task briefing that he expects the direct payments to be sent out within three weeks.</p><p class='black-text'>Just above the United States, Canada's House of Commons agreed to approve a $27 billion Canadian ($18.8 billion) stimulus bill that will aid both impacted citizens and businesses. The bill now will be sent to the country's Senate for a vote, which Canadian officials believe will take place quickly.</p><p class='black-text'>In Europe, nine countries so far have called for the European Union to issue "corona bonds," which will be a new debt bond that would combine securities from different countries.</p><p class='black-text'>"We need to work on a common debt instrument issued by the European institution to raise funds on the market on the same basis and to the same benefits of all Member States," the heads of state of Italy, France, Belgium, Greece, Portugal, Spain, Ireland, Slovenia and Luxembourg <a href="https://www.cnbc.com/2020/03/25/nine-eu-countries-say-its-time-for-corona-bonds-as-virus-deaths-rise.html">all issued in a joint statement</a> on Wednesday.</p><p class='black-text'><i>Need for Supplies </i></p><p class='black-text'>UnitedHealth Group <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/UNH"><span style="color:#333">(</span><span style=";">UNH</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="UNH" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="UNH" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="UNH" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> announced that the U.S. Food and Drug Administration has updated its guidance, allowing people to test themselves at home for COVID-19, after a study of 500 patients in Washington State showed that self tests are as effective as self-administered tests. The health insurer stated that the approved test will help reduce the burden on health care workers for testing and threat of transmission.</p><p class='black-text'>The FDA also <a href="https://www.cnbc.com/2020/03/25/fda-warns-consumers-against-fraudulent-coronavirus-tests-vaccines-and-treatments.html">warned consumers on Wednesday </a>not to buy or use products that sellers claim help treat or prevent COVID-19. The agency said in a statement: "COVID-19 has never been seen in humans before, there are currently no vaccines to prevent or drugs to treat...There are fraudulent products that claim to cure, treat, or prevent COIVD-19 haven't been evaluated by the FDA for safety and effectiveness and might be dangerous to you and your family."</p><p class='black-text'>Elon Musk's aerospace company SpaceX has joined the growing list of companies that are using their factories to produce medical supplies for those in need. SpaceX announced that the company will be making hand sanitizer and face shields and donated a large amount of N95 masks to health care workers around the world.</p> http://www.pws.io/coronavirus-update-countries-ask-for-stimulus-as-the-world-enters-lockdown Wed, 25 Mar 2020 18:47:39 -0400 Rachel Hemple Market Update: Investors Continue to Bring Funds Back to Stocks http://www.pws.io/market-update-investors-continue-to-bring-funds-back-to-stocks <p class='black-text'>Wall Street took off on another rally on Wednesday, with the Dow Jones Industrial Average extending Tuesday's surge by gains from components like Boeing <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BA"><span style="color:#333">(</span><span style=";">BA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="BA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Nike <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/NKE"><span style="color:#333">(</span><span style=";">NKE</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="NKE" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="NKE" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="NKE" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>. Stocks were also boosted by the United States Senate announcing a final deal on a $2 trillion stimulus package to help ease the impact of the coronavirus on both the American public and businesses. Although the full extent of the bill has yet to be published, Senate is expected to vote after market close on Wednesday, which will move the bill to a vote in the House of Representative until it can be signed into law by President Donald Trump.</p><p class='black-text'><b>Here's how the market settled at mid-week: </b></p><p class='black-text'>S&P 500 Index <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SPY"><span style="color:#333">(</span><span style=";">SPY</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SPY" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SPY" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="SPY" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>: +1.15% or +28.23 points to 2,475.56</p><p class='black-text'>Dow Jones Industrial Average <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DIA"><span style="color:#333">(</span><span style=";">DIA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DIA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DIA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DIA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>: +2.39% or +495.64 points to 21,200.55</p><p class='black-text'>Nasdaq Composite Index <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/QQQ"><span style="color:#333">(</span><span style=";">QQQ</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="QQQ" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="QQQ" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="QQQ" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>: -0.45% or -33.56 points to 7,384.29</p><p class='black-text'>In Major Stock News, shares of Boeing skyrocketed Wednesday after the Senate and White House agreed to a $2 trillion stimulus bill that has set aside funds for the bleeding travel industry. Norwegian Cruise Line <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/NCLH"><span style="color:#333">(</span><span style=";">NCLH</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="NCLH" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="NCLH" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="NCLH" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Royal Caribbean <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/RCL"><span style="color:#333">(</span><span style=";">RCL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="RCL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="RCL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="RCL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, American Airlines <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AAL"><span style="color:#333">(</span><span style=";">AAL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AAL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AAL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="AAL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Delta Air Lines <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DAL"><span style="color:#333">(</span><span style=";">DAL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DAL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DAL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DAL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, United Airlines <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/UAL"><span style="color:#333">(</span><span style=";">UAL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="UAL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="UAL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="UAL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Carnival <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/CCL"><span style="color:#333">(</span><span style=";">CCL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="CCL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="CCL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="CCL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> shares also spiked due to the anticipated stimulus package. The retailer Nike increased after the company reported higher-than-expected sales for its fiscal third quarter.</p><p class='black-text'>In Stock Sector News, most sectors continue to post performance gains as the market heads toward the end of the week. The majority the increased on Wednesday included Industrials +5.29%, Real Estate +4.50%, Energy +4.49%, Utilities +2.84%, Financials +2.66%, Materials +2.20%, Health Care +1.27% and Consumer Discretionary +1.10%. The few that posted negative performance were Communication Services -1.58%, Information Technology -0.28% and Consumer Staples -0.17%.</p><p class='black-text'>Lastly, in Commodity and Currency News, crude prices slightly dropped on Wednesday due to the scale of the coronavirus pandemic still being uncertain. West Texas Intermediate <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/USO"><span style="color:#333">(</span><span style=";">USO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="USO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="USO" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="USO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> fell just under -0.10%, while Brent Crude <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BNO"><span style="color:#333">(</span><span style=";">BNO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BNO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BNO" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="BNO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> dropped -0.72%, bringing barrel prices to $24-$28 each. Gold <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GLD"><span style="color:#333">(</span><span style=";">GLD</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GLD" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GLD" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GLD" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> also fell by -0.84%, although the metal is still over a high of about $1,600 per ounce. Finally, the U.S. Dollar <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/UUP"><span style="color:#333">(</span><span style=";">UUP</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="UUP" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="UUP" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="UUP" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> also lost some relative strength, with the DXY Index falling -0.82%.</p> http://www.pws.io/market-update-investors-continue-to-bring-funds-back-to-stocks Wed, 25 Mar 2020 16:31:27 -0400 Rachel Hemple Facebook Anti-Spam Filter Overzealously Targets Legitimate Posts http://www.pws.io/facebook-anti-spam-filter-overzealously-targets-legitimate-posts <p class='black-text'>As the coronavirus pandemic spreads, Facebook's <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/FB"><span style="color:#333">(</span><span style=";">FB</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="FB" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="FB" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="FB" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> automated spam-filtering program is accidentally targeting legitimate posts by news agencies and regular users. The overzealous targeting of legitimate posts has the adverse effect of deleting news posts and informational articles about the coronavirus.</p><p class='black-text'>Users on Facebook began noticing that their posts <a href="https://www.cnet.com/news/facebook-spam-filter-blocking-legitimate-links-including-some-to-coronavirus-information/">were being flagged </a>as a violation of Facebook's community guidelines on Tuesday, with many users taking to Twitter <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/TWTR"><span style="color:#333">(</span><span style=";">TWTR</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="TWTR" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="TWTR" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="TWTR" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> to vent their frustrations. Some users had multiple posts flagged in a row. News outlets such as the BBC and content providers such as Buzzfeed were also victims of the bizarre false-flagging incidents. Particularly concerning was that legitimate news posts and informational posts regarding the coronavirus pandemic were being blocked.</p><p class='black-text'>It did not take long for Facebook to notice the bug and take action to correct it. By 6:30 p.m. Facebook announced that the bug had been resolved, though some users <a href="https://www.cnet.com/news/facebook-spam-filter-blocking-legitimate-links-including-some-to-coronavirus-information/">were still reporting issues</a> after the announcement. Guy Rosen, Vice President of Integrity at Facebook, <a href="https://www.cnet.com/news/facebook-spam-filter-blocking-legitimate-links-including-some-to-coronavirus-information/">responded to the incident</a>, saying "We've restored all the posts that were incorrectly removed, which included posts on all topics - not just those related to COVID-19. This was an issue with an automated system that removes links to abusive websites, but incorrectly removed a lot of other posts too,"</p><p class='black-text'>Interestingly, this bug comes just weeks after Facebook revealed the AI behind its <a href="https://www.pws.io//facebook-opens-up-about-ai-holding-the-front-line-against-fake-accounts">automated flagging</a>. Deep Entity Classification, or DEC, sweeps Facebook profiles looking for specific behaviors and "tells" that indicate a fraudulent account. Similar procedures are used to sweep for spam posts on Facebook, with the company employing machine learning so that its auto-moderation AI can learn on its own what to look for in a fraudulent post. <a href="https://www.cnet.com/news/facebook-spam-filter-blocking-legitimate-links-including-some-to-coronavirus-information/">Speculation had arisen</a> that the error that lead to the takedowns was the result of machine learning occurring without human oversight, due to many Facebook employees being absent due to the pandemic. Guy Rosen denies that this is the case and only stated that it was a "bug" with auto-moderation, "We're on this-this is a bug in an anti-spam system, unrelated to any changes in our content moderator workforce" <a href="https://www.cnet.com/news/facebook-spam-filter-blocking-legitimate-links-including-some-to-coronavirus-information/">he said</a>.</p> http://www.pws.io/facebook-anti-spam-filter-overzealously-targets-legitimate-posts Wed, 25 Mar 2020 11:10:37 -0400 Michael Mooney First U.S. Home Coronavirus Tests Offered to Healthcare Workers First http://www.pws.io/first-us-home-coronavirus-tests-offered-to-healthcare-workers-first <p class='black-text'>Healthcare startup Everlywell released 30,000 coronavirus (COVID-19) tests on Monday, March 23, but these won't be made available to the general public just yet. Originally, Everlywell intended to make the tests available to consumers for $135 per test kit, however the company decided at the last minute to "allocate [Monday's] <a href="https://www.kxan.com/news/local/austin/austins-everlywell-to-give-healthcare-workers-first-access-to-new-covid-19-test-kits/" target="_blank">supply of COVID-19 tests to hospitals and healthcare systems only</a> in order to get these tests in the hands of those who need them most urgently."</p><p class='black-text'>By those who need them most, Everlywell was referring primarily to healthcare workers, those vulnerable to contracting the virus due to routine close proximity to coronavirus patients.</p><p class='black-text'>"It has become increasingly apparent there is a desperate need for health care workers caring for sick patients on the front lines to have priority access to testing for COVID-19," said Everlywell CEO Julia Cheek to <i>Fortune</i>, regarding the decision to supply the tests to medical professionals first. "There has been a <a href="https://fortune.com/2020/03/23/everlywell-home-coronavirus-testing-kit/" target="_blank">massive concern by these professionals who are being exposed</a>, and could contract the virus, but there aren't enough tests to see if they have it themselves."</p><p class='black-text'>Everlywell received countless messages from "<a href="https://fortune.com/2020/03/23/everlywell-home-coronavirus-testing-kit/" target="_blank">hospital systems, doctors, nurses, and healthcare providers</a>," as well as the White House, which influenced the company's decision.</p><p class='black-text'>Once tests do become available to the general public, a doctor (which could include a qualified telemedicine doctor) will need to prescribe the test. If the doctor decides testing is necessary and proceeds with the prescription, Everlywell will send the customer a test kit for $135 and perform lab tests on the received sample at an approved site within 72 hours. Customers can expect to receive results through email or text.</p><p class='black-text'>At this point, Everlywell hasn't released a statement regarding when tests will be made available to the general public, only that wide release is their intent and at least 236,000 tests will be added soon.</p><p class='black-text'>Ultimately, the company would like testing and diagnosing to reach 250,000 people weekly.</p><p class='black-text'>Despite the current $135 purchase fee, Everlywell isn't making a profit from current or future sales of their coronavirus tests. The company is currently looking into how to make tests available for free in the future.</p><p class='black-text'>Everlywell, having acknowledged that the shortage of tests puts millions of citizens at risk, is "<a href="https://fortune.com/2020/03/23/everlywell-home-coronavirus-testing-kit/" target="_blank">still committed to making a COVID-19 test available to consumers</a> who fall within the CDC's guidelines for recommended testing and are actively working with the FDA on a path forward."</p> http://www.pws.io/first-us-home-coronavirus-tests-offered-to-healthcare-workers-first Wed, 25 Mar 2020 11:04:30 -0400 Rebecca O'Bern Facebook and Others Team Up with World Health Organization for COVID-19 Hackathon http://www.pws.io/facebook-and-others-team-up-with-world-health-organization-for-covid-19-hackathon <p class='black-text'>Facebook's <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/FB"><span style="color:#333">(</span><span style=";">FB</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="FB" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="FB" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="FB" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> CEO Mark Zuckerberg <a href="https://www.facebook.com/zuck/posts/10111707674548151">announced in a post</a> on Tuesday that the social media platform will be partnering with the World Health Organization in launching a global hackathon called #BuildForCOVID19 that starts on Thursday. Facebook is joined by engineers from Microsoft <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/MSFT"><span style="color:#333">(</span><span style=";">MSFT</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="MSFT" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="MSFT" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="MSFT" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Slack <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/WORK"><span style="color:#333">(</span><span style=";">WORK</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="WORK" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="WORK" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="WORK" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Pinterest <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/PINS"><span style="color:#333">(</span><span style=";">PINS</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="PINS" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="PINS" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="PINS" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, TikTok, Twitter <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/TWTR"><span style="color:#333">(</span><span style=";">TWTR</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="TWTR" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="TWTR" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="TWTR" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, WeChat <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/TCEHY"><span style="color:#333">(</span><span style=";">TCEHY</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="TCEHY" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="TCEHY" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="TCEHY" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Giphy, Slow Ventures and many more to "build tools to help tackle some of the health, economic and community challenges," that surfaced during the coronavirus outbreak.</p><p class='black-text'>A hackathon is a design event in which computer programers and others involved in software development collaborate intensively on software projects for a certain amount of time. According to the engineers behind Facebook, hackatons have been a driving force behind the early development of the platform as well as other new features like full-screen photos and photo filters for Facebook that work on every type of smartphone.</p><p class='black-text'>"Hackathons are a chance for engineers...to transform the spark of an idea into a working prototype and get other people excited about its potential," Facebook Engineering <a href="https://www.facebook.com/notes/facebook-engineering/stay-focused-and-keep-hacking/10150842676418920/">wrote in a post.</a> Of course, not every project built during a hackathon is used, but intense effort and short timeframe help make good ideas built quickly and can influence how engineers think moving forward.</p><p class='black-text'>Zuckerberg <a href="https://www.facebook.com/zuck/posts/10111707674548151">wrote</a> that, "Hackathons have always been an important part of how we come up with new ideas and projects at Facebook--features like Blood Donations and Crisis Response were first built during hackathons and are now used by millions worldwide."</p><p class='black-text'>Earlier this month, the World Health Organization classified the COVID-19 global outbreak as a pandemic. Since then, governments and companies have been working quickly to provide help for areas highly impacted and measures to slow the spread of the deadly virus.</p><p class='black-text'>The WHO and scientists at the Chan Zuckerberg Biohub will be providing guidance on what projects could deliver the most impact to help those in need due to the outbreak. The hackathon is open to the public and developers are encourage to build projects that focus on health, vulnerable populations, business, community, education and entertainment.</p><p class='black-text'>#BuildForCOVID19 is now accepting registrations via the organization's <a href="https://covid-global-hackathon.devpost.com/?fbclid=IwAR0P03fTJhTh7OOjUXg8FqX9HIQghW2BBM1OzwyNdDVh49EsV_sesIy-XVg">devpost</a>. The event will accept submissions March 26-30 and the top projects will be unveiled on April 3.</p> http://www.pws.io/facebook-and-others-team-up-with-world-health-organization-for-covid-19-hackathon Wed, 25 Mar 2020 10:50:33 -0400 Rachel Hemple Coronavirus Update: Hubei Begins to Open, United States Heads Toward Lockdown http://www.pws.io/coronavirus-update-hubei-begins-to-open-united-states-heads-toward-lockdown <p class='black-text'>The Chinese province of Hubei, where the coronavirus pandemic began, will begin to <a href="https://www.nytimes.com/2020/03/24/world/asia/china-coronavirus-lockdown-hubei.html">lift the nearly two months of lockdown measures</a> on its more than 60 million residents starting on Wednesday. The city of Wuhan will remain under lockdown until April 8, though the Chinese government announced that public transportation in the city will begin again on Wednesday.</p><p class='black-text'>As China is lifting its lockdown, the United States seems to be rushing towards its own. More and more states are enforcing stay-at-home orders for their residents as outbreak zones in New York City and California continue to accelerate at an alarming rate. Former FDA Commissioner Scott Gottlieb told <a href="https://www.cnbc.com/2020/03/24/former-fda-chief-says-us-coronavirus-lockdowns-will-last-weeks.html">CNBC</a> on Tuesday that the outbreak, "is going to be a long fight. I think we need to keep this going for several more weeks, but there is an end to this and we know where it is."</p><p class='black-text'><b>Total Global Cases:</b> More than 415,000</p><p class='black-text'><b>Total Deaths:</b> At least 18,000</p><p class='black-text'><b>Total Recovered:</b> At least 108,000</p><p class='black-text'>As the global amount of confirm cases doubles in less than a week, President Donald Trump stated that he wants to lift the protective measures on the country and "open" the economy back up by Easter, which is less than three weeks away. Trump's stance is that the entire country does not have to close in response to a few large outbreaks spread across the nation.</p><p class='black-text'>The President <a href="https://twitter.com/realDonaldTrump/status/1242455267603877894">tweeted:</a> "Our people want to return to work. They will practice Social Distancing and all else, and Seniors will be watched over protectively & lovingly. We can do two things together. THE CURE CANNOT BE WORSE (by far) THAN THE PROBLEM! Congress MUST ACT NOW. We will come back strong!"</p><p class='black-text'>Despite the optimistic timeline, Trump does not seem to be paying attention to the gravity of the current situation. California <a href="https://www.cnbc.com/2020/03/24/los-angeles-health-officials-say-a-child-under-18-has-died-from-the-coronavirus.html?__source=twitter%7Cmain">reported</a> Tuesday that a teenager had died from the virus, reaffirming that COVID-19 does not just affect the elderly. In addition, many people that have the means are now trying to leave New York City, a move that could cause further spread in a matter of two week. The Trump administration has asked those leaving the city to self quarantine for two weeks, but has not issued penalties to those that do not comply.</p><p class='black-text'>New York Governor Andrew Cuomo <a href="https://www.cnbc.com/2020/03/24/cuomo-on-coronavirus-and-trump-lives-at-risk-if-economy-speeded-up.html">responded </a>to the President's stance, stating "I understand what the president is saying that his is unsustainable that we close down the economy and we continue to spend money. There is no doubt about that. But if you ask the American people to choose between public health and the economy then it's no contest. No American is going to say 'accelerate the economy at the cost of human life."</p><p class='black-text'>Microsoft <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/MSFT"><span style="color:#333">(</span><span style=";">MSFT</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="MSFT" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="MSFT" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="MSFT" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> co-founder Bill Gates was one of the many voices that raised opposition to the United States attempting to avoid a lockdown. Gates <a href="https://www.ted.com/about/programs-initiatives/ted-connects-community-hope">stated:</a> "The U.S. is past this opportunity to control (COVID-19) without shutdown. We did not act fast enough to have an ability to avoid the shutdown...It's January when everybody should've been on notice."</p><p class='black-text'><i>Aiding Treatment </i></p><p class='black-text'>The U.S. Food and Drug Administration <a href="https://www.nbcnews.com/news/us-news/fda-will-allow-doctors-treat-critically-ill-coronavirus-patients-blood-n1167831">approved an emergency treatment </a>for critical COVID-19 cases Tuesday. The treatment allows doctors to give the donated plasma of those who have survived COVID-19 to those close to succumbing to the virus. Known better as convalescent plasma, this centuries-old practice helps introduce the antibodies from a survivor to the immune system of someone who is deathly ill. The FDA has cautioned that this treatment has yet to be found effective for COVID-19.</p><p class='black-text'>Ford <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/F"><span style="color:#333">(</span><span style=";">F</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="F" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="F" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="F" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> announced on Tuesday that the auto maker will be partnering with 3M <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/MMM"><span style="color:#333">(</span><span style=";">MMM</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="MMM" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="MMM" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="MMM" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and GE Healthcare <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GE"><span style="color:#333">(</span><span style=";">GE</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GE" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GE" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GE" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> to begin producing face masks and ventilators to provide to hospitals. This comes as New York's cases are beginning to outpace the available supply.</p> http://www.pws.io/coronavirus-update-hubei-begins-to-open-united-states-heads-toward-lockdown Tue, 24 Mar 2020 18:42:44 -0400 Rachel Hemple Market Update: Wall Street Rallies Ahead of Stimulus http://www.pws.io/market-update-wall-street-rallies-ahead-of-stimulus <p class='black-text'>Wall Street posted its best rally since 1933 as investors bet on Senate's positive discussions on Tuesday leading to the passing of a $2 trillion stimulus package later on in the evening. All three major indices exploded upwards as the Dow Jones Industrial Average rallied over 11%.</p><p class='black-text'><b>Heres how the market settles on Tuesday:</b></p><p class='black-text'>S&P 500 <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SPY"><span style="color:#333">(</span><span style=";">SPY</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SPY" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SPY" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="SPY" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>: +9.34% or +208.99 points to 2,446.39</p><p class='black-text'>Dow Jones Industrial Average <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DIA"><span style="color:#333">(</span><span style=";">DIA</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DIA" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DIA" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DIA" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>: +11.26% or +2,093.11 points to 20,685.04</p><p class='black-text'>Nasdaq Composite Index <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/QQQ"><span style="color:#333">(</span><span style=";">QQQ</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="QQQ" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="QQQ" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="QQQ" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>: +8.12% or +557.18 points to 7,417.86.</p><p class='black-text'>In Major Stock News, travel stocks--American Airlines, Carnival <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/CCL"><span style="color:#333">(</span><span style=";">CCL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="CCL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="CCL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="CCL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Delta Air Lines <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DAL"><span style="color:#333">(</span><span style=";">DAL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DAL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DAL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DAL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Expedia <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/EXPE"><span style="color:#333">(</span><span style=";">EXPE</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="EXPE" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="EXPE" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="EXPE" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Hilton <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/PK"><span style="color:#333">(</span><span style=";">PK</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="PK" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="PK" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="PK" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Marriott <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/MAR"><span style="color:#333">(</span><span style=";">MAR</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="MAR" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="MAR" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="MAR" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, MGM Resorts <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/MGM"><span style="color:#333">(</span><span style=";">MGM</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="MGM" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="MGM" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="MGM" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Norwegian Cruse Line <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/NCLH"><span style="color:#333">(</span><span style=";">NCLH</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="NCLH" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="NCLH" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="NCLH" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, Royal Caribbean <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/RCL"><span style="color:#333">(</span><span style=";">RCL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="RCL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="RCL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="RCL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>, United Airlines <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/UAL"><span style="color:#333">(</span><span style=";">UAL</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="UAL" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="UAL" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="UAL" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Wynn Resorts <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/WYNN"><span style="color:#333">(</span><span style=";">WYNN</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="WYNN" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="WYNN" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="WYNN" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr>--all soared upward as investors bet on the stimulus package providing aid to the battered travel industry. Shares of the oil giant Chevron <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/CVX"><span style="color:#333">(</span><span style=";">CVX</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="CVX" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="CVX" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="CVX" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> jumped after the company announced a number of cost-cutting measures to help curb impact due to the falling price of oil. Zoom Video <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/ZM"><span style="color:#333">(</span><span style=";">ZM</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="ZM" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="ZM" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="ZM" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> fell from its historic run Tuesday after more than doubling its share value since the beginning of 2020.</p><p class='black-text'>In Stock Sector News, almost every sector rebounded upward as investors flocked back into the market. The performance gains were as follows: Energy +16.31%, Financials +12.75%, Industrials +12.75%, Materials +11.63%, Utilities +10.94%, Information Technology +10.30%, Real Estate +8.55%, Health Care +7.59% and Consumer Staples +4.84%. The two that dug deeper into the market sell-off were Consumer Discretionary -13.77% and Communication Services -6.96%.</p><p class='black-text'>Lastly, in Commodity and Currency News, crude oil prices continued to push slightly ahead on Tuesday. West Texas Intermediate <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/USO"><span style="color:#333">(</span><span style=";">USO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="USO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="USO" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="USO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> gained almost +2% and Brent Crude <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/BNO"><span style="color:#333">(</span><span style=";">BNO</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="BNO" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="BNO" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="BNO" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> climbed roughly +0.70%, bringing barrel priced between $24-$28 each. Gold <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/GLD"><span style="color:#333">(</span><span style=";">GLD</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="GLD" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="GLD" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="GLD" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> rallied over 4% on Tuesday, pointing to what might be the end of the metal's sell off. Finally, the U.S. Dollar <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/UUP"><span style="color:#333">(</span><span style=";">UUP</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="UUP" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="UUP" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="UUP" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> lost some of its strength against other global currencies on Tuesday, with the DXY Index dropping -0.68%.</p> http://www.pws.io/market-update-wall-street-rallies-ahead-of-stimulus Tue, 24 Mar 2020 17:15:42 -0400 Rachel Hemple Who's Hiring? Amazon, Walmart, Others Add Jobs Amidst Epidemic http://www.pws.io/whos-hiring-amazon-walmart-others-add-jobs-amidst-epidemic <p class='black-text'>Amidst the unprecedented layoffs and lockdowns, some industries are <a href="https://www.marketwatch.com/story/amazon-is-hiring-100000-workers-7-eleven-will-hire-up-to-20000-here-are-the-sectors-adding-jobs-amid-coronavirus-2020-03-20?mod=home-page">hiring hundreds of thousands of new employees</a> to make up for increased demand. Pizza chains, convenience stores, and giants like Amazon <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/AMZN"><span style="color:#333">(</span><span style=";">AMZN</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="AMZN" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="AMZN" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="AMZN" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Walmart <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/WMT"><span style="color:#333">(</span><span style=";">WMT</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="WMT" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="WMT" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="WMT" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> are all hiring. Many companies are particularly <a href="https://www.usatoday.com/story/money/2020/03/20/coronavirus-amazon-walmart-among-companies-hiring-during-crisis/2886881001/">targeting those who have been laid off</a> because of the COVID-19.</p><p class='black-text'>Amazon announced on March 16 that they would be hiring an additional 100,000 employees in the United States alone as demand from online shopping shoots up during quarantine. The company is looking for full- and part-time warehouse and delivery workers. Through the end of April, pay for employees in the U.S. will be raised by $2 per hour while countries in the E.U. will see a roughly €2 per hour raise. The company is particularly interested in hiring members of the hospitality, restaurant, and travel industries and other workers that may be laid off.</p><p class='black-text'>"We want those people to know we welcome them on our teams until things return to normal and their past employer is able to bring them back," the company said.</p><p class='black-text'>The online shopping platform has seen an explosion in demand as well as product shortages and extended delivery times.</p><p class='black-text'>Walmart is looking to <a href="https://www.usatoday.com/story/money/2020/03/19/walmart-coronavirus-jobs-cash-bonuses/2881716001/">add 150,000 temporary employees</a> to its workforce through the end of May. While the positions are temporary, Walmart says many will become permanent roles. Like Amazon, Walmart is specifically calling for those who have been impacted by COVID-19.</p><p class='black-text'>"We know millions of Americans who are usually employed at this time are temporarily out of work, and at the same time we're currently seeing strong demand in our stores," Walmart president and CEO Doug McMillon said in <a href="https://corporate.walmart.com/newsroom/2020/03/19/walmart-announces-special-cash-bonus-and-early-payment-of-q1-bonuses-totaling-nearly-550-million-for-hourly-associates">a press release</a> Thursday.</p><p class='black-text'>Both Walmart and Amazon also have plans to offer financial assistance to workers. Walmart plans to give bonuses to those who work through the pandemic, while Amazon intends to offer grants to workers affected by the lockdowns.</p><p class='black-text'>Grocery and convenience stores are also looking for more workers. Kroger <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/KR"><span style="color:#333">(</span><span style=";">KR</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="KR" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="KR" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="KR" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> has already hired 2,000 new employees to make up for demand, and they have plans to add another 10,000. 7-Eleven <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/SVNDF"><span style="color:#333">(</span><span style=";">SVNDF</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="SVNDF" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="SVNDF" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="SVNDF" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> announced on Friday that it is looking to hire an additional 20,000 store employees at their more than 70,000 stores across the country.</p><p class='black-text'>"This will provide job opportunities and ensure 7-Eleven stores remain clean and in-stock with the goods our customers need during this critical time," said 7-Eleven President and CEO, Joe DePinto.</p><p class='black-text'>Delivery services like Blue Apron <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/APRN"><span style="color:#333">(</span><span style=";">APRN</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="APRN" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="APRN" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="APRN" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> and Domino's Pizza Inc. <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/DPZ"><span style="color:#333">(</span><span style=";">DPZ</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="DPZ" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="DPZ" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="DPZ" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> have both announced they will be adding workers as demand for home-delivered meals increases. PepsiCo also plans on hiring workers to deliver their products to locations across the country. Pepsi <nobr><span style="white-space: nowrap; display:inline-block"><a href="http://www.pws.io/stock/PEP"><span style="color:#333">(</span><span style=";">PEP</span>&nbsp;<span class="updatable-ticker text alert" data-symbol="PEP" data-type="direction_class" data-up="success" data-down="alert"><i data-symbol="PEP" data-type="direction_class" data-up="fa-arrow-up" data-down="fa-arrow-down" class="updatable-ticker fa"></i>&nbsp;<span class="updatable-ticker" data-symbol="PEP" data-type="changePercent"></span></span><span style="color:#333">)</span></a></span></nobr> says they will add 6,000 full-time, full-benefit workers in the coming months.</p> http://www.pws.io/whos-hiring-amazon-walmart-others-add-jobs-amidst-epidemic Tue, 24 Mar 2020 11:31:48 -0400 Autumn McLain