retailers and other business groups on Monday welcomed a move by the Trump
administration to allow importers to defer for three months any tariff payments
they owe the government, but said they needed more tariff relief to deal with
Chancellor Angela Merkel signaled readiness on Monday to finance economic
recovery in Europe from the coronavirus pandemic through a bigger European
Union budget and the issuance of joint debt via the European Commission.
Treasury expects the economy to contract by around 8% this year, two sources
close to the matter told Reuters, underscoring the negative impact of the
nationwide lockdown imposed to fight the coronavirus outbreak.
boosted its new economic stimulus package on Monday to a record $1.1 trillion
to expand cash payouts to its citizens, as the fallout from the coronavirus
pandemic threatens to push the world's third-largest economy deeper into
fell sharply on Monday after U.S. crude futures turned negative for the first
time in history, underscoring the chaos the coronavirus pandemic has unleashed
on the global economy.
Oil continues its seemingly impossible drop with some
analysts predicting negative oil prices to be more common, as market players
are seeing the two production heavyweights, Saudi Arabia and Russia, still
trading blows in the physical market.
Gold prices stabilized around the $1,695 mark on Monday
as concerns about the sustainability of the rally in equities started to
dominate thinking ahead of a key week of corporate earnings.