NEW YORK/LONDON (Reuters) – World stock exchange seesawed while bond yields retreated on Thursday as alarming U.S. jobless data highlighted a deepening decline in the middle of the coronavirus break out and tamped down investor hopes a listless economy would quickly be back on its feet.
SUBMIT PICTURE: The New York Stock Exchange (NYSE) is seen in the financial district of lower Manhattan throughout the outbreak of the coronavirus illness (COVID-19) in New York City, New York, U.S., April 13,2020 REUTERS/Andrew Kelly
A record 22 million Americans looked for unemployment benefits over the past month, with millions more submitting claims last week in a plain indication of how deep the financial depression caused by the pandemic will be.
Morgan Stanley ( MS.N) Chief Executive James Gorman told investors he “can promise” the bank will miss its medium-term financial targets again this quarter, as the lockdowns will continue to overthrow the international and U.S. economies.
Morgan Stanley posted a 32?ll in quarterly earnings and it’s shares slid 0.3%.
With an “all-clear” no place in sight, 7 Northeastern U.S. states extended a shutdown to consist of the pandemic until Might 15, even as President Donald Trump prepared to detail his strategy to open services in the least-affected states as early as May 1.
The dollar hit a one-week high and U.S. Treasury yields succumbed to a 3rd session as financiers fled to safe-haven possessions.
Financiers are facing whether to be positive for when economies take out of recession or to await a coronaviru