• Gold futures give up earlier gains to log a third straight session decline
    on February 27, 2020 at 6:50 pm

    Gold futures gave up earlier gains on Thursday to finish lower for a third straight session. "Gold prices are always sensitive to the outlook for interest rates, but it's rarely been more strongly correlated against bond yields than it is right now," said Adrian Ash, director of research at BullionVault. "So while the plunge in the stock market should keep driving gold higher, any pullback in these surging bond prices is also going to hit gold short-term," he said. Bond prices move in the opposite direction of yields. The 10-year Treasury note yield traded above record lows as gold priced settled. April gold fell 60 cents, or 0.04%, to settle at $1,642.50 an ounce. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news. […]

  • Facebook cancels F8 developer conference due to coronavirus risk
    on February 27, 2020 at 6:31 pm

    Facebook Inc. announced Thursday that it would be canceling its F8 developer conference due to "growing concerns" around the coronavirus. The event was to take place in early May. The company said it would still stream videos and other content in lieu of hosting the in-person developer event. Facebook joins other prominent tech companies and organizations that have recently canceled events due to the outbreak. The GSM Association canceled its Mobile World Congress smartphone trade show that was scheduled to take place in late February, while Workday Inc. canceled its internal sales conference that was scheduled for next week. Shares of Facebook have dropped 5.6% so far this year, as the S&P 500 has slipped 4.9%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news. […]

  • COVID-19 case tally: 82,550 cases, 2,810 deaths
    on February 27, 2020 at 6:14 pm

    The U.S. reported its first case of a COVID-19 infection in an individual who had not been to China or exposed to another person with the novel coronavirus, the Centers for Disease Control and Prevention said Wednesday night. This would mark the first instance of what experts call "community spread" in the U.S. All previous U.S. cases can be directly connected to travel to mainland China, time as a passenger on the Diamond Princess cruise ship, or in two instances spread of the virus between spouses. The case was announced by the CDC after President Donald Trump held a news conference aiming to ease American worries about the outbreak, in part by putting Vice President Michael Pence in charge of the U.S.'s COVID-19 response. "At this time, the patient's exposure is unknown," the CDC said. "It's possible this could be an instance of community spread of COVID-19...It's also possible, however, that the patient may have been exposed to a returned traveler who was infected." There are now 60 cases of COVID-19 in the U.S., including among 45 people who were repatriated from the Diamond Princess and from Wuhan, China, the city that first detected the virus in December. Six people are counted as recovered in the U.S. Worldwide, there are now 82,549 cases of COVID-19, at least 2,810 deaths, and about 33,252 people, primarily in China's Hubei Province, have recovered, according to the latest figures from the Johns Hopkins Whiting School of Engineering's Centers for Systems Science and Engineering. (The World Health Organization's dashboard tracking COVID-19 remains down.) A number of countries including Iran, Italy, and South Korea have also reported community spread as the number of cases in their countries have soared in recent days. Iran now has 245 cases, 26 deaths, and 49 people have recovered; Italy has 528 cases, 14 deaths and 40 people have recovered; and South Korea has 1,766 cases, 13 deaths, and 22 people have recovered. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news. […]

  • Mnuchin, Kudlow join coronavirus task force, Pence announces
    on February 27, 2020 at 6:06 pm

    Treasury Secretary Steven Mnuchin and top White House economist Larry Kudlow have been added to the Trump administration's coronavirus task force, Vice President Mike Pence's office announced Thursday. Pence was appointed on Wednesday by President Donald Trump to lead the administration's response to the virus, and the addition of the economic policymakers comes as the S&P 500 index flirted with a correction on Thursday. Dr. Jerome Adams, the U.S. surgeon general, also joined the task force, Pence and Health and Human Services Secretary Alex Azar said in a statement. Pence spoke to a conservative political conference on Thursday and called the risk to Americans from the virus low but emphasized the administration is "ready for anything." Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news. […]

  • Japanese woman who contracted coronavirus and recovered has tested positive a second time: AFP
    on February 27, 2020 at 5:49 pm

    A Japanese woman who contracted the coronavirus and was released from hospital after recovering has tested positive a second time, Agence France-Presse reported Thursday. The case is the first in which a patient has been cleared of the virus only to test positive again, the press agency reported, citing a local official in Osaka. The woman is in her forties and test positive on Jan. 29 after working as a tour guide in Wuhan, the Chinese city that is the epicenter of the outbreak. Japan has reported at least 186 case of the virus and at least four deaths. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news. […]

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