To discover the latest economic and business news headlines, continue reading to discover all of the top finance stories to hit international headlines in the last 24 hours.
The Latest Finance News:
The value of Netflix shares surges:
As the majority of the world has been thrown into lockdowns which require self isolation, the value of Netflix shares has begun to surge. In fact, in 24 hours Netflix’s share price had risen by 7%. As more and more individuals are home from work and choose to spend their lockdown streaming TV shows and movies.
Amazon’s share prices also increase rapidly as a result of self isolation regulations:
Amazon’s share prices also rose by 4.7% within 24 hours. Due to the fact that as shoppers are not able to visit physical shops, there has been a huge increase in demand for Amazon products. As individuals and families seek to keep themselves entertained while they’re in lockdown.
Gold prices increase as the threat of an international recession looms:
Gold prices have reached the highest level since 2012. Due to international fears of long lasting economic downturn. Historically when there is economic instability and uncertainty shareholders tend to sell their shares in favor of stockpiling gold. Which causes gold prices to rise rapidly. In fact, gold prices reached reached $1,795.50 per ounce. Which means that overall gold prices are up more than 15% in 2020.
International oil prices continue to fall:
International oil prices have continued to fall as a result of a surplus in oil. However, the downturn in gas prices may not last for the foreseeable future as OEPEC made the decision to cut oil production by 9.7 million barrels per day.
Billionaire investor Leon Cooperman suggests that the federal government should bail out businesses which are in trouble:
Billionaire investor Leon Cooperman has suggested that the federal government should bail out businesses which are in hot water, due to the coronavirus pandemic and overnight economic downturn. Cooperman suggests that if the federal government refuses to bail out struggling companies, then the country will be stuck paying for an unprecedented number of unemployment benefits. Which would place a great burden on the economy.
One of JP Morgan’s financial experts believes that the economy recover by mid 2021:
Marko Kolanovik, one of JP Morgan’s leading financial experts has suggested that the domestic economy should start to recover from the economic impact of the coronavirus pandemic by mid 2021. Kolanovik’s prediction comes after the federal government announced $2.3 trillion dollars worth of government grants. Which would help boost the country’s economy and may end up preventing a long term economic depression.
Ford shares have dipped quickly:
Ford shares have dipped by over 4%, after Ford’s representatives announced that the company’s first quarterly report had been adversely effected by the coronavirus pandemic.
eBay announces its new CEO:
eBay shares also rose slightly after the company announced its new CEO, Walmart executive Jamie Iannone. Iannone previously worked for the tech giant from 2001 to 2009.
In order to see how the coronavirus pandemic and the federal government’s decisions continue to effect the economy, continue to read the latest finance headlines on a daily basis.