US stocks turned in a mixed performance on Monday after OPEC and various other oil-producing nations reached a deal on a massive production cut.
The US could suffer some negative consequences of President Trump’s tariffs on Chinese imported goods as it could need critical medical products made in China to combat Covid-19.
The UK’s finance minister Rishi Sunak warned the government that the economy could shrink around 30% as a result of the coronavirus lockdown.
US stocks recorded some early losses on Monday after OPEC and various other oil-producing nations reached a deal on a massive production cut.
Monday marks a return to regular activity for some non-essential businesses that were placed in a temporary period of “hibernation” in March as new Covid-19 cases are lower and Italy records lowest death rate since March.
US futures had stocks opening lower on Monday after OPEC and various other oil-producing nations reached a deal on a massive production cut.
Top US health adviser Dr Anthony Fauci confirmed a report on Sunday that President Trump had rebuffed recommendations from officials to implement social distancing measures to combat Covid-19.
Major oil producers Saudi Arabia and Russia reach a truce after collapse in demand and agree to cut global oil production by almost 10% to protect the market from coronavirus impact.
Important Legal Notice about News Sources: Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news and we may not share the views of the author or publisher. We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.