Archives of “July 2020” month

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Global recovery unlikely to be v-shaped, says Shell chief

  
Analysis, Crude
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The head of Shell spoke in an online interview, in a nutshell said that there will be no V-shaped recovery for the global economy after the coronavirus epidemic

  • this will  curtail oil and gas demand for years to come
Ben van Beurden, Chief Executive of Royal Dutch Shell:
  • “Energy demand, and certainty mobility demand, will be lower even when this crisis is more or less behind us. Will it mean that it will never recover? It is probably too early to say, but it will have a permanent knock for years”
  • “It is most likely not going to be a v-shaped recovery.”
  • Shell & others have had to reduce spending sharply, postpone investment and will continue to do so “for some time to come”
via Reuters
The head of Shell spoke in an online interview, in a nutshell said that there will be no V-shaped recovery for the global economy after the coronavirus epidemic

Coronavirus – Fauci says an antibody could be ready by fall

  
  Analysis
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Director of the National Institute of Allergy and Infectious Diseases Dr. Anthony Fauci spoke with (wait for it)  Facebook CEO Mark Zuckerberg in a YouTube event.

Some of Fauci’s remarks (via Bloomberg):
  • COVID-19 is very different from the severity of the 1918 virus
  • Monoclonal antibody drug could be ready for use by fall
  • No signs that face masks could cause harm to people
Director of the National Institute of Allergy and Infectious Diseases Dr. Anthony Fauci spoke with (wait for it)  Facebook CEO Mark Zuckerberg in a YouTube event.
A little more on his timing remark …
  • by mid-to-late fall, early winter, we’ll know whether we have candidates that are safe and effective, and I hope and anticipate that we will have one or more.
  • If that’s the case, by the end of this year, beginning of 2021, we may have one or more candidate that is actually safe and effective. That being the case we can start distributing doses widely at that time.

Texas coronavirus cases up >10k on Thursday, record deaths in one day

  
  Analysis
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COVID-19 numbers published from Texas for the preceding 24 hours

  • New cases +10,291 bring the total to 292,656. This is the fourth highest single day increase. If there is a positive to be gleaned maybe 4th biggest is it?
  • The death toll however has gained at a record pace, for a second consecutive day, up 129 to a total of 3,561
  • Hospitalisations down 14, down for a second consecutive day – again trying to gather some positive signs, this is one
COVID-19 Texas coronavirus

Major indices break winning streaks

  
Analysis, US Market
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S&P and NASDAQ break a today winning streak. Dow industrial average breaks its 4 day winning streak

The major indices have broken their recent winning streaks. Admittedly the NASDAQ and the S&P index is at only reason for 2 straight days, but the Dow industrial average had a 4 day winning streak snapped in trading today.

The final numbers are showing:
  • S&P index -10.99 points or -0.34% at 3215.57
  • NASDAQ index -76.66 points or -0.73% at 10473.83
  • Dow industrial average -135.39 points or -0.50% at 26734.73
Below are the percentage changes and percentage high low ranges for the North American and European indices. Apart from the Italian FTSE MIB and the Portuguese PSI 20, the major indices all closed lower today.
S&P and NASDAQ break a today winning streak. Dow industrial average breaks its 4 day winning streak_After the close Netflix showed a greater than expected rise in new subscribers (10.1 million vs. 8.2M estimate),. But forecast Q3 subscribers much less than expectations at 2.5 million vs. 5.1 million estimate
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