U.S. pension funds may pour $400 billion into stocks, lifting virus-hit markets: JP Morgan
U.S. pension funds that delayed rebalancing their portfolios are likely to pump about $400 billion into stocks over the next two quarters, analysts at JP Morgan said, providing a potential boost to equity markets battered by the coronavirus pandemic.
Florida Gov. Ron DeSantis issues stay-at-home order following mounting pressure
DeSantis announced a stay-at-home order for the entire state starting Thursday, which is expected to last at least 30 days. DeSantis has resisted the move for weeks despite the state reporting nearly 7,000 coronavirus cases.
It’s World Health Day, and we owe a profound debt of gratitude to all our medical professionals. They’re still giving their all for us every day, at great risk to themselves, and we can’t thank them enough for their bravery and their service.
U.S. stocks erased all their earlier gains on Tuesday as tech and staples rolled over and pushed the Dow
into negative territory by the closing bell, ruining a 900-point rally from the morning hours.
The Dow, S&P 500 and Nasdaq all began the session higher as positive coronavirus headlines boosted investor confidence
that the worst of the disease could be nearly over. Here’s what’s happening:
Last week’s rally sent the S&P 500 to its best weekly gain since 1974.
The Nasdaq ended in positive territory, boosted by a 6% gain in tech heavyweight Amazon
but the broader market was weighed by ongoing economic fears stemming from the coronavirus crisis.
Crude oil prices rose, but then settled lower after President Donald Trump said in a Twitter post Monday morning
that OPEC+ oil output cuts would be double the amount reported earlier.
Police discovered 17 bodies stacked up in a New Jersey nursing-home morgue meant for no more than four earlier this week, the New Jersey Herald reports. The deceased were just a fraction of the 68 deaths that have occurred in recent weeks at Andover Subacute and Rehabilitation Center I and II, a long-term care facility. Twenty-six of the deaths have been attributed to COVID-19, the Herald reports.
Overwhelmed with the number of deaths, Andover staff even stored one body in a shed, The New York Times reports. Two nurses have died. Police have launched multiple investigations into the nursing home. The facility maintains beds for 700 patients, making it the state’s largest. When reached Wednesday evening, the Andover Center receptionist said all facility’s directors were gone for the day and would not be available for comment. COVID-19 has devastated nursing homes across the country.