July 6, 2020
AliExpress WW
Stock Market Updates: Dow futures fell 200, cases with coronavirus jumped, Dell grew 14%

Stock Market Updates: Dow futures fell 200, cases with coronavirus jumped, Dell grew 14%

AliExpress WW

A healthcare professional stands at the entrance to the New York Stock Exchange (NYSE) on the first day that traders are allowed to return to the historic floor of the exchange on May 26, 2020 in New York.

AliExpress WW

Spencer Platt

This is a live blog. Please stay tuned.

8:02 in the morning: oil again fell below $ 40, as fears weigh

On Wednesday, oil fell in price, as concerns about the second wave of Covid-19 deals and what this could mean for oil demand were reflected in prices. West Texas Intermediate, the American oil benchmark, fell 2.1%, or 85 cents, to $ 39.52 a barrel. The international benchmark Brent crude oil lost 77 cents, or 1.8%, to $ 41.86. Paola Rodriguez Masiu of Rystad Energy also indicated that stockpiling was the reason for the price drop. “If the pandemic causes a second round of blockages, the storage facilities will struggle to adapt to unused oil, and the growth in gasoline that we are currently seeing will be canceled if new travel restrictions are introduced,” she said. On Monday, WTI closed above the key level of $ 40 for the first time since early March. –Stevens

8:00: Trump administration considers new tariffs for goods worth $ 3 billion in the EU and the UK

The US Trade Representation is considering $ 3.1 billion in new tariffs for exports from France, Germany, Spain and the UK, according to a notice released Tuesday night. The statement said that goods subject to new duties include olives, beer, gin and trucks. The rate can reach 100%. The United States also wants to increase existing tariffs on products, including airplanes, cheese and yogurt, by 15-25%. –Li

7:58 a.m.: Royal Caribbean and Norwegian cruise downgrade Barclays

Shares of Royal Caribbean and Norwegian Cruise Line fell more than 4% during preliminary trading on Wednesday after a fall from Barclays. These stocks are popular with retail investors, which are gaining momentum at a record pace and are posting stocks that soared nearly 30% last month. But Barclays said cruise ship companies are facing a dark path ahead.

CNBC PRO subscribers can read more here. –Stevens

7:56 am: gold jumped to an almost 8-year high amid a sharp increase in the number of cases of coronavirus

Gold prices rose to their highest level in almost eight years as the resumption of coronavirus cases pushed investors into safe haven. Spot gold prices rose 0.5% to $ 1,774.53 an ounce, peaking since October 2012 – $ 1,779.06. Gold futures in the US rose 0.4% to $ 1,789.60. The United States reported more than 31,000 new cases of corovirus infection on Monday, an increase of seven days across the country by more than 30% from a week ago, according to data compiled by Johns Hopkins University. Precious metal is considered a safe haven in times of economic uncertainty. –Fitzgerald

7:53 am: Dell announces the sale of VMWare

Dell shares up more than 14% in extended trading after Wall Street Magazine On Tuesday night, it announced that a tech company was considering options for its stake in VMware. According to the report, Dell owns approximately 81% of the company and is considering buying back a minority stake or selling its position. Dell’s share is about $ 50 billion. VMware shares rose more than 8% at the premarket. –lb.

7:41 am: the number of cases of coronavirus in the US is growing

The United States added more than 31,000 new cases of Covid-19 on Monday, an increase of seven days across the country by more than 30% from a week ago, according to a CNBC analysis compiled by Johns Hopkins University. Texas, Arizona, and California are among the states in which over the past few weeks there has been a sharp increase in the number of times they started to open their economies. California saw a significant leap in its daily case report on Monday, adding 6,219 new cases, while 3,110 are currently hospitalized in Texas based on a seven-day moving average, up 43% from a week ago. according to Covid. Tracking project data. –Lee, Jasmine Kim

7:40 am: stock futures fall amid fears of coronavirus

On Wednesday, futures for US stocks were under pressure, as investors began to worry about an increase in the number of cases of coronavirus. Futures on the Dow Jones Industrial Average are trading more than 200 points lower, or 0.9%. Futures on the S & P 500 fell 0.8%, while futures on the Nasdaq-100 fell 0.5%. These losses allowed the high-tech Nasdaq, which hit a record high on Tuesday, to demonstrate its first loss in nine sessions. –Amber

– With a report by Maggie Fitzgerald, Jasmine Kim and Pippa Stevens.

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