Markets
Mnuchin Gives His Take on Closing the Economy Again
Mnuchin said, "We can't shut down the economy again". He cautioned against rushing into a fourth bill as the economy was starting to reopen. "I think we're over 20 million people that have been tested and will continue to test people.and that was something that was the big problem and the reason why the president needed to close down parts of the economy". [Full Article...]
1.5 million Americans filed for unemployment last week
Unemployment claims continue to be processed at a rapid rate. The latest jobless claims are a bit less than analysts forecasts. Despite the staggering unemployment figures, the stock market has been on a steady rise since reaching a four-year low in March. [Full Article...]
Nikola Motors stock soars as BEV and fuel-cell pick-up named
Like Nikola's heavy goods trucks, which are yet to enter production, the Badger offers a choice of powertrains. Founded in 2015, Nikola reportedly doesn't expect to turn a profit until 2021. Milton made the announcement through his Twitter account on Monday, and soon after the Nikola started rallying. In Nikola's public-offering filing, the company said it is focused on making Class 8 heavy-du... [Full Article...]
Employment survey indicates Cape Breton employers are hiring
It is the most comprehensive, forward-looking employment survey of its kind and is used as a key economic indicator by both the Bank of England and the UK Government. It is also an eight percentage point increase from the outlook reported during the same time past year, indicating a moderate hiring pace for the upcoming months. [Full Article...]
Elon Musk says Tesla ready to start 'volume production' on semi truck
It's time to go all out and bring the Tesla Semi to volume production. Tesla stock jumped 5 percent early morning trading on June 10 after Elon Musk hinted that he's gearing up for mass production of his highly-anticipated semi-truck. [Full Article...]
Asia stocks set to fall on Fed's dour outlook
The Fed's cautious tone suggests that the United States economy is not yet out of the woods, but that the central bank will likely take whatever means necessary to keep key metrics afloat, said Loewengart. Officials also promised to maintain bond purchases at least at the current pace of around $80 billion per month in Treasuries and $40 billion per month in agency and mortgage-backed securities -... [Full Article...]
Potential Covid-19 vaccine from China shows promise in animal tests
In the U.S, a program called "Operation Warp Speed" aims to have 300 million doses on hand by January. Shares for Moderna rose over three percent to $60.7 on Wednesday, while J&J shares rose almost two percent to $148.69. "We are getting organized so that a substantial part (of the vaccine) is produced in Italy", he said. There are five Chinese coronavirus vaccine candidates that are in the hum... [Full Article...]
United States jobless claims continue gradual decline, remain elevated
The Maine Department of Labor said Thursday that 6,700 new unemployment claims were filed for the week ending June 6. On Friday, the government surprisingly reported that the economy gained 2.5 million jobs in May and that the unemployment rate unexpectedly declined from 14.7% to a still-high 13.3%. [Full Article...]