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US accuses China government of blocking US airlines flying to China

  
  Analysis
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The US Transportation Department is trying to persuade China to allow the resumption of US passenger flights in.

  • Reuters says the department notes that Delta and United want to resume passenger flights to China in June – but said US government talks with China had failed to produce an agreement
  • The dept temporarily blocked some China flights inbound the US this week.
More detail at that link above. This does seem to be a minor sort of spat, but as I noted previously, add it to the list if issues between the US and China:
  • coronavirus origin and spread
  • trade
  • tension over new rules from Beijing to be imposed on Hong Kong
  • Taiwan
  • and maybe nuclear tests soon?
The US Transportation Department is trying to persuade China to allow the resumption of US passenger flights in.

Australia – Virgin airline has collapsed, voluntary administrators called in

  
  Analysis
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Virgin Airline in Australia was hit by the evaporation in demand for travel

From the airline statement:
  • Virgin Australia Holdings Limited (ASX: VAH) (Virgin Australia Group or Group) has entered voluntary administration
  • to recapitalise the business and help ensure it emerges in a stronger financial position on the other side of the COVID-19 crisis
  • Velocity Frequent Flyer, while owned by the Group, is a separate company and is not in administration. 
  • The decision comes as the Group has continued to seek financial assistance from a number of parties, including State and Federal Governments, to help it through the unprecedented crisis, however is yet to secure the required support. 
  • Virgin Australia will continue to operate its scheduled international and domestic flights which are helping to transport essential workers, maintain important freight corridors, and return Australians home. 
There is more but that’s it in a nutshell.
Virgin Airline in Australia was hit by the evaporation in demand for travel

Airline Cathay Pacific is asking its 27,000 workers to take 3 weeks off without pay

  
  Analysis
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Cathay is a Hong Kong carrier, citing a “significant” drop in demand for flights caused by the coronavirus outbreak.

  • wants staff to take 3 weeks of  unpaid leave
  • between March 1 and the end of June
Examples of the economic impact the virus are mounting.

China-US flights to be restricted to 7 airports starting Sunday

  
  Analysis
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China flight entries to be kept to 7 airports

The US also announced that all Americans returning from Hubei province will be quarantined for two weeks.
The French press reported earlier in the week that China demanded that all people being airlifted out of Hubei be quarantined by two weeks. The thinking was that they didn’t want to be responsible for an outbreak elsewhere — something that would trigger anti-China sentiment. The US first said it was going to have a voluntary quarantine but it now appears as though they have fallen in line.
  
Analysis, US Market
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A few big names weighed and tech struggled

On the day:
  • S&P 500 down 12 points to 2986 (-0.4%)
  • DJIA -0.9%
  • Nasdaq -0.8%
On the week:
  • S&P 500 +0.5%
  • DJIA -0.2%
  • Nasdaq +0.4%
A report saying that there are text messages showing Boeing executives worked to hide safety problems from the FAA sent shares of the industrial giant down 6.38% in the biggest slide since Feb 2016. Shares of J&J were also soft on a lawsuit.
The S&P 500 is consolidating ahead of the all-time high of 3027.
A few big names weighed and tech struggled

I will not…

  
  Education
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1- “I will not alienate my friends and antagonize my family by reminding the world on every possible occasion how right I was about the upturn – or downturn – in steels, motors, airlines, or whatever.
2 – When I buy a stock I will not mobilize all the good news to make it look pretty. I will try to consider both the favorable and unfavorable angles as impartially as I know how.
3 – I will not close out a stock position that is doing well by me for no other reason than that I have a profit. I will not cut short my gains in a good situation.
4 – I will not hang on to a stock that is persistently going against me. I will limit my loss and close out any position that seems to have gone really bad before I am in danger of serious trouble.
5 – I will not be swayed or panicked by news flashes, rumors, tips, or well-meant advice.
6 – I will not put all my eggs in one basket nor will I be swept off my feet to plunge into some unknown or low-priced stock on a purely emotional basis.
7 – I will not attempt to tell the market what a stock ought to be worth. I will try to understand what the market has to tell me about what people are willing to pay for it.
8 – I will never forget that I am not in the market primarily to prove – to my broker, my friends, my wife, etc. – that I am smarter than everybody else, but to protect and, if possible, to augment my capital.”

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