Global stocks surge as optimism grows on virus outlook
Investors rally worldwide led by a 7 percent jump in the S&P 500 as signs of slowing cases emerge in Italy and Spain and New York reports flat daily deaths. The Dow and Nasdaq surge while bonds fall, with caution about the pandemic’s lasting hit to the economy and earnings. The Tokyo market climbs on Japan’s huge stimulus plan as other major indexes rise across Europe and Asia.
MENTIONED IN THIS ARTICLE
New York
U.S
Italy
Spain
Randy Frederick
Schwab Center For Financial Research
Europe
Asia
Frederick
Nela Richardson
Edward Jones
Richardson
Washington
Morgan Stanley
Japan
Hong Kong
Germany
DAX
France
London
Quibi aims for bite sized films and daily Essentials
Quibi is a mobile phone only platform launching in the United States and Canada with a 90 day free trial and 50 programs. It promises snack sized installments under 10 minutes and a slate of Daily Essentials including news sports and weather. Executives Jeffrey Katzenberg and Meg Whitman lead the venture funded by $1 billion plus $750 million. The service will cost $4.99 monthly with ads or $7.99 for ad free access.
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Los Angeles
Chance the Rapper
Liam Hemsworth
Christoph Waltz
Quibi
Daily Essentials
U.S
Canada
Judge Judy
Reese Witherspoon
Joe Jonas
Jennifer Lopez
Lena Waithe
Sophie Turner
Jeffrey Katzenberg
Hewlett-Packard
Meg Whitman
Katzenberg
Walt Disney Co
DreamWorks Sgk
Steven Spielberg
David Geffen
Whitman
Disney
Nbcuniversal
Viacom
HBO
Goliath YouTube
Dan Ives
Wedbush Securities
YouTube
Dan Brown
Fed to back small business lending in relief package plan
The Federal Reserve will buy loans banks issue to small firms under the 2.2 trillion relief package. The move aims to spur lending, freeing bank cash while allowing forgiven loans if payroll is maintained or staff rehired. The Fed will issue further details this week and may buy municipal bonds too.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Fed
Small Business Administration
Treasury
Joseph Brusuelas
RSM
Brusuelas
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Stan Choe
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Associated Press
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