JakeNovakNews.com
STOCKS/ECONOMY
-Stock futures are higher after Wednesday's 974-point loss for the Dow and similar 4.4 percent losses for the S&P 500 and the Nasdaq. We get weekly jobless claims numbers later this morning. Last week's number was a record 3.3 million new jobless claims.
-The yield on the 10-year Treasury bond is down to 0.60 percent, with the 2-year yield 39 basis points behind at 0.21 percent.
-Gold is back above the $1,600 per ounce level at $1,606. Bitcoin is up to the $6,600 level.
-Asian markets had a mixed close today. Shanhai's stock index was the big winner with a 1.7 percent gain. Hong Kong's Hang Seng index was up 0.9 percent, but Japan's Nikkei fell 1.4 percent.
OIL/ENERGY
-U.S. crude prices are up more than 9 percent to the $22 a barrel level after President Trump said he expects Russia and Saudi Arabia to end their price war soon.
-Gasoline prices are down to $1.97 a gallon, national average.
CORONAVIRUS LATEST
-White House advisor Dr. Anthony Fauci says a human coronavirus vaccine trial conducted by Moderna and U.S. health officials is "on track" and would be the "ultimate game changer." Moderna shares are up 1.4 percent in the premarket after falling by almost 30 percent Wednesday. Moderna shares are still up 52 percent so far this year.
-The U.S. Surgeon General is reversing himself and is now asking the CDC to determine if wearing face masks can help prevent the spread of the virus. This comes after Los Angeles Mayor Eric Garcetti advised all residents to wear masks in public. Israeli Prime Minister Benjamin Netanyahu has ordered all citizens to wear masks in public.
-President Trump is considering halting domestic flights between U.S. cities that are coronavirus hot spots.
-Boeing will start offering early retirement and buyouts to thousands of its workers as the virus freezes the aviation business. Boeing shares are up almost 4 percent in the premarket.
-Total U.S. deaths connected to the coronavirus are now at 5,138, according to Johns Hopkins.
-Spain's death toll is now at 10,003.
-Amgen is the latest major biotech company to redirect its efforts in order to develop coronavirus drugs.
-San Francisco is now banning reusable bags as its believed they could help spread the virus.
WALGREENS EARNINGS
-Drugstore chain Walgreens reported a 4 percent gain in revenues. Despite a drop in net profits, Walgreens shares are up almost 3 percent in the premarket as pharmacies are benefiting from the coronavirus outbreak.
VAPE CASE
-The Federal Trade Commission is suing Altria Group to unwind its $12.8 billion investment in Juul Labs, accusing the Marlboro maker of violating federal antitrust laws when it took a stake in the e-cigarette maker. Altria shares are flat in the premarket.
WE DON'T WORK
-Softbank is terminating a $3 billion tender offer for additional WeWork shares. The offer was part of deal made last year with WeWork shareholders. WeWork says it may sue Softbank over the decision to back out. Softbanl shares rose 2.5 percent in Japanese market trading today.