Financial Industry News
The U.S. government has bought the entire global supply of Covid-19 drug remdesivir for the next three months. Hospitals will be charged $3,200 per treatment for the drug, representing a huge markup of 31,900%. To make matters worse, Gilead received public funding for remdesivir’s development and has a history of tax-dodging. The U.S. government has […]
Continue ReadingDr. Anthony Fauci potentially sees the U.S. reaching 100,000 new infections per day. The U.S. stock market is at risk of a pullback as new cases make reopening the economy more difficult. Analysts foresee the momentum of stocks slowing down in the near-term. Dr Anthony Fauci believes the U.S. could reach 100,000 cases per day […]
Continue ReadingThe World Health Organization and U.S. Centers For Disease Control and Prevention believe the worst is yet to come. Virus infections and new hospitalizations are soaring in the U.S. The U.S. stock market remains vulnerable to a correction after a resurgence of cases. The World Health Organization (WHO) believes “the worst is yet to come” […]
Continue ReadingThis week the CDC said coronavirus has likely infected ten times more Americans than official case totals. If accurate, that would mean it’s also ten times less deadly. Which would put its mortality rate in line with seasonal influenza. Health and state authorities recommend wearing a mask, minimizing travel, and physical distancing to lower the […]
Continue ReadingAfter the largest options expiry in history, bitcoin ended its fifth week of bouncing around the $9,000s price range. Bitcoin (BTC) was trading around $9,180 as of 20:00 UTC (4 p.m. ET), slipping almost 1% over the previous 24 hours. At 00:00 UTC on Friday (8:00 p.m. Thursday ET), bitcoin was changing hands around $9,300 […]
Continue ReadingDow Jones Industrial Average (DJIA) futures fell on Thursday, extending yesterday’s losses. The U.S. recorded the highest daily increase in new virus cases, prompting fears of new lockdowns. New unemployment claims expected to come in above 1.2 million with 20 million continuing claims. Stocks look set to continue yesterday’s painful selloff, with Dow futures down […]
Continue ReadingFrom markets to real estate to the dollar to retail, the data on whether the economy is recovering or not is hella confused. The economy is nothing if not confounding right now. Across every domain, from real estate to oil to retail, there are bull signals and bear signals. What’s the answer? Is this just […]
Continue ReadingBitcoin is reporting moderate gains on Monday as gold, a safe haven asset, rallies amid renewed coronavirus concerns. At press time, the cryptocurrency is priced around $9,430 – up 1.5% on the day – having put in lows near $9,260 during the Asian hours, according to CoinDesk’s Bitcoin Price Index. Gold, however, printed a one-month […]
Continue ReadingThe trend of the U.S. stock market will depend on new pandemic-related hospitalizations, says Morgan Stanley. Since early May, the number of weekly hospitalizations have substantially dropped off. Hedge funds and institutions are still on the sidelines, but the sentiment is becoming more optimistic. Morgan Stanley suggests the number of new pandemic-related hospitalizations will decide […]
Continue ReadingResearchers in Australia have identified a bug that caused that country’s contact tracing app to malfunction, it was announced Monday. Governments around the world have introduced contact tracing apps to track the spread of the coronavirus. But, as in Australia, so far it’s unclear how much of a benefit these systems are having. Critics complain […]
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