1. Dow Futures Become Positive After Fed Announcement
A person wearing a face mask walks along Wall Street after other cases of coronavirus were confirmed in New York, New York, the United States, on March 6, 2020.
Andrew Kelly | Reuters
Dow futures became positive on Thursday after the Federal Reserve released details of its long-awaited loan program on Main Street and other initiatives – $ 2.3 trillion in efforts to support the economy. Later in the morning, Fed President Jerome Powell speaks at a Brookings Institution webinar on central bank intervention measures against coronaviruses. (The stock market is closed on Friday in compliance with Good Friday.) On Wednesday, the Dow Jones Industrial Average gained nearly 780 points, or 3.4%, after Senator Bernie Sanders abandoned the Democratic presidential nomination contest . This has alleviated some of Wall Street’s political concerns as the daily increase in coronavirus cases in the United States and around the world has slowed since last Friday. The Dow Jones at the close on Wednesday was still more than 20% of its February record. Depressed oil prices made a noise Thursday morning over expectations that OPEC and its allies would accept a cut in production at a meeting later today.
2. Weekly jobless claims in the United States total 6.6 million
A framing art gallery is closed in Venice Beach, California “during the novel COVID-19 coronavirus.
APU GOMES / AFP via Getty Images
The number of unemployed has continued to rise due to the closure of the coronavirus, with 6.6 million Americans filing their first jobless claims during the week ended April 4, the Labor Department announced on Thursday. This brings the total over the past three weeks to over 16 million. But that number is probably still millions of people compared to the number of workers who may have already lost their jobs when the economy abruptly closed due to the coronavirus crisis. In the last two reports, a total of 10 million workers had claimed state unemployment benefits.
3. Bill Gates plans to reopen schools this fall, but the economy is taking longer to recover
Billionaire philanthropist Bill Gates told CNBC he thought schools could resume in the fall but that the US economy would not return as it did in the past. The Bill and Melinda Gates Foundation, which has committed up to $ 100 million to respond to the coronavirus, has worked for years on global health issues and vaccines. Gates, a supporter of a home coronavirus test, said it would help pay for the factories that can produce vaccines. During the interview, which was broadcast on Thursday on “Squawk Box”, the co-founder of Microsoft suggested that therapeutic treatments for sick people could start to deploy in four to six months, but that it would take at least 18 months to develop a safe and effective system. vaccine to prevent the virus.
4. Worldwide cases of coronavirus almost 1.5 million
New York’s US Democratic government Andrew Cuomo said at a press conference on Wednesday that the epidemic could “stabilize” in a few weeks if the state maintains its strict social distancing policies.
5. Disney + now has 50 million paying subscribers
The Disney + (Plus) logo is displayed on a smartphone.
Rafael Henrique | LightRocket | Getty Images
Disney shares jumped more than 5% in Thursday’s pre-market trade after media and theme park giant announced that its new Disney + video streaming service now has more than 50 million paid subscribers . That’s almost double what Disney said in its first quarter February results. Disney +, which launched five months ago, was doing well before the coronavirus pandemic, which keeps people stranded at home and spends more time online. Disney + has been rolled out in the UK, Ireland, France, Germany, Italy, Spain, Austria and Switzerland in the past two weeks. In comparison, it has taken Netflix seven years since launching in 2007 to reach 50 million subscribers.
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