Archives of “April 25, 2020” day

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S&P affirms Italy rating with outlook negative

  
  Analysis

There was some speculation that they would cut the rating

S&P has affirmed Italy’s rating at BBB.  They continue to keep the outlook negative.
They said:
  • could lower ratings if government debt to GDP fails to shift onto clearly discernible downward path over the next 3 years
  • could lower ratings if there is market deterioration in borrowing conditions that jeopardizes public finance sustainability
  • projected that Italian gross general government debt will increase to 153% of GDP by end of 2020
  • forecasts Italy average unemployment rate will rise to 11.2% this year
They also kept Greece at BB- but moved outlook to stable from positive.

Report that China has sent a medical team to North Korea to attend to Kim Jong Un

  
  Analysis

Reuters with the report citing “three people familiar with the situation.”

  • The sources declined to be identified given the sensitivity of the matter.
Chinese doctors along with officials are part of the team sent to NK
  • delegation led by a senior member of the Chinese Communist Party’s International Liaison Department left Beijing for North Korea on Thursday
Link to the Reuters piece for (a little) more.
—
Rumours circulated last concerning the health of Kim, everything from he was recuperating following cardiovascular surgery, to he was brain deed, to he was dead.
  • Kim was last seen in public April 11.

Nasdaq leads the way to the upside today. All major indices fall for the week.

  
Analysis, US Market
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Dow posts a 3 day win streak. All 11 S&P sectors close higher

the major indices all closing higher for the day with the NASDAQ index leading the way to the upside. The Dow industrial average posted a gain for the 3rd day in a row. All 11 sectors of the S&P closed higher.

The final numbers are showing:
  • Dow, +260 points or 1.11% at 23775.27
  • S&P index +38.94 points or 1.39% at 2836.74
  • Nasdaq index +139.77 points or 1.65% at 8634.52
For the week, all 3 major indices closed lower with the NASDAQ outperforming relatively. The numbers for the week show:
  • Dow, -1.93%
  • S&P, -1.32%
  • Nasdaq close modestly lower at -0.18%.
For the week, some oversized winners included:
  • Beyond Meat +41.44% as meet distributors close operations due to coronavirus
  • Rite Aid +22.75%
  • Papa John’s, +10.52%
  • Lyft, +9.74%
  • DuPont, +9.23%
  • Chipotle, +8.23%
  • Twitter, +7.64%
  • Facebook, +6.05%
  • Schlumberger J, +5.3%
  • IBM +3.83%
  • Bristol-Myers Squibb, +2.71%
  • Box, +2.45%
  • Johnson & Johnson +1.81%
  • Home Depot, +1.35%
  • Pfizer, +1.33%
Big decliners for the week included:
  • Boeing, -16.24%
  • United Airlines -12.07%
  • Deutsche Bank, -9.02%
  • Delta Air Lines, -7.66%
  • Slack, -7.26%
  • General Dynamics, -6.5%
  • Southwest Airlines, -5.93%
  • Coca-Cola, -5.47%
  • Walt Disney, -5.16%
  • Gilead -5.16%
  • Citigroup, -5.15%
  • Wells Fargo, -5.11%
  • Lockheed Martin, -4.93%
  • American Express, -4.87%
  • Procter & Gamble, -4.8%
  • Bank of America, -4.73%
  • J.P. Morgan, -4.71%
  • Raytheon technologies, -4.06%
  • travelers, -4.05%
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