Posts Tagged ‘Coronavirus’

Week in Review: Optimism Outweighs Geopolitical Tensions

Despite escalating tensions between the U.S. and China – with this week focusing on President Trump placing restrictions on Chinese social-media apps including TikTok and WeChat – global markets recorded solid gains. The technology-heavy Nasdaq Composite Index recorded fresh new highs and the S&P 500 Index is within 1.2% of its all-time high, recorded in…

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Week in Review: Tech Giants Dominate

U.S. equities ended mostly higher for the week as big tech held the earnings spotlight. On Wednesday, a congressional antitrust panel questioned the chief executives of the biggest tech companies around their size, power and business practices. The industry leaders (Jeff Bezos of Amazon, Tim Cook of Apple, Mark Zuckerberg of Facebook and Sundar Pichai…

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Week in Review: Chinese Second Quarter GDP Rebounds

China’s GDP grew a better-than-expected 3.2% in the second quarter of this year, reversing a historic 6.8% contraction in the first quarter. Economists polled by Reuters expected China’s gross domestic product to have grown at 2.5% in the April to June quarter. With many firms still operating below capacity some analysts questioned the official growth…

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Week in Review: The Delicate Balance

On Thursday more than 150,000 new cases of the coronavirus were recorded, the highest single-day number so far. The new cases were mostly reported in the Americas, with significant numbers from South Asia and the Middle East. Countries globally are moving forward with the reopening of their economies, some more cautiously than others, as each…

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Week in Review: Covid-19 Resurgence Fears Dampen Sentiment

Global equities suffered their worst weekly decline in almost three months as fears of a second wave of infections along with the U.S. Federal Reserve’s economic outlook dampened investor sentiment. With economies slowly reopening and people making their way back to work, there have been growing fears of a resurgence of coronavirus infections. In the…

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Week in Review: Virus Revives U.S.- China Trade Tensions

Global equities erased most of the prior week’s gains after a string of disappointing economic releases and escalating tensions between the U.S. and China weighed on markets. A speech by Federal Reserve Chair Jerome Powell, in which he said that the U.S. economy is “subject to significant downside risks” in the months ahead and warned…

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Week in Review: US Jobless Rate Soars

The COVID-19 pandemic has devastated the jobs market in the U.S. and the world, with an April reading of labour conditions in the U.S. showing that a record 20.5 million people are out of work, bringing the unemployment rate to 14.7%, its worst level since the Great Depression by some measures, as businesses closed in…

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Week in Review: Markets Rebound Strongly in April

Despite stocks finishing mixed this week, global markets posted some of their best returns in decades during the month of April. A slowdown in new coronavirus cases and synchronized stimulus initiatives globally, improved sentiment from the March stock-market bottom. Volatility has also subsided from its recent highs but remains elevated. Economic data continues to point…

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Week in Review: S&P 500 posts best week since 1974

Markets got off to a strong start for the week, with growing hopes that coronavirus deaths were beginning to decline in parts of Europe. Markets carried that momentum into Tuesday morning, after China reported no coronavirus-related deaths for the first time, while Germany was seeing more recoveries than new cases and Italy stated it will…

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Week in Review: Worst Quarter for Stock Markets Since 2008

Major indices across the globe closed lower for the week, rounding off their worst quarterly performances since 2008. The stock market response to efforts to contain the global coronavirus pandemic has been sharp and rapid with most indices down between 20 to 30 percent in little more than a month. However, the magnitude of the…

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For COVID-19 updates, visit the South African Government's official portal www.sacoronavirus.co.za