Oil prices plummet as Saudi Arabia wages price war with Russia
Global oil prices fell by a whopping 30% after Saudi Arabia ramped up oil production in order to fight a price war with Russia. This is happening due to the collapse of the OPEC agreement with Russia and the spread of the coronavirus. It is likely that the demand for oil globally will fall due to the coronavirus, although it is difficult to forecast in such a volatile situation.
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Apple lost $180 billion in market value in just one day
This year Apple became the first American company to reach a market cap of $2 trillion. Yesterday, Apple captured another record, this time for its falling share price which amounted to the biggest market cap drop for a U.S. listed company ever. The stock lost over $179.92 billion in market value. That drop is larger than the individual market caps of 470 of the S&P's 500 companies.
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FoxNews
Best performing stock market in Asia
Best performing stock market in Asia
A New York-based financial markets research firm marketcurrentswealthnet.com termed Pakistan Stock Exchange as the best performing stock exchange in Asia and fourth-best in the world. "PSX benchmark KSE-100 index has given a return on investment of 38.5% in dollar terms as foreign capital has been flowing into the market after the yield on the nation's bond fell below double digits," the report said.
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AA
Dow Jones Jumps 200 Points, Helped By Bullish Gain For Apple Stock; Nvidia, AMD Lead Nasdaq 100
The stock market today strengthened in afternoon trading, with the Nasdaq composite and S&P 500 poised for their fourth straight weekly gain. Top gainers in the Dow Jones Industrial Average on Friday included Apple (AAPL), which is scheduled to split its stock 4-for-1 at the end of the month. Both Apple and Tesla are far extended past proper buy points, where buying now is fraught with risk.
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Investors
China’s exports jumped 7.2% against an estimated 0.2% fall
Dollar-denominated exports in China jumped 7.2% year-on-year, economists at Reuters predicted a fall of 0.2%. In July, China posted a trade surplus of $62.33 billion, beating the $42 billion economists had expected. China’s trade surplus was $46.42 billion in June. Despite the coronavirus pandemic hitting global demand, exports from China have held up as exports in medical supplies jumped in the first half of the year
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CNBC