16 million people just got laid off but U.S. stocks had their best week in 45 years
“Stocks are up because the damage to the economy — evident in claims — is beyond comprehension, while the response of the Fed is easier to understand,” wrote Chris Low, chief economist for FHN Financial, in a note out Thursday after the jobless claims data. In an analysis published Thursday, investor Ned Davis notes that the stock market does better than average when unemployment spikes.
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Asian markets rise, though Nikkei sinks after Japan’s record contraction
Japanese stocks sank while other Asian markets gained Monday after Japan reported a record economic contraction as the coronavirus pandemic weighed on retailing, investment and exports. The Nikkei 225 in Tokyo NIK, -0.82% fell 0.8% after the data showed the world’s third-largest economy shrank 27.8% from a year earlier in the three months ending in June.
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Moderna's second phase trial for its coronavirus vaccine
Moderna has led the pack in the American race to make a vaccine, with share prices for the company surging last month after it announced promising early results from its first stage of human trials. Moderna announced Friday that it has begun its second phase of human trials for its coronavirus vaccines - but the results of its first human tests are now shrouded in controversy
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Warren Buffett's Berkshire Hathaway sold more than $6 billion in stock in April
The billionaire investor's company was widely expected to deploy a chunk of its $128 billion cash pile last quarter, but instead its reserves grew to $137 billion by the end of March. "The amount of investment gains/losses in any given quarter is usually meaningless and delivers figures for net earnings per share that can be extremely misleading to investors who have little or no knowledge of accounting rules,"
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Nearly 200 Tyson employees in Logansport test positive for COVID-19 - WISH-TV
Overnight, the Cass County Health Department saw a major jump in Tyson employees testing positive. “So far we’ve tested well over one thousand people,” Cass County Health Department Administrator Serenity Alter said.
The health department expects to see a lot more employees from the Tyson plant testing positive in the coming days.
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