World shares power ahead…US unemployment claims report to be released…Steep drop in air travel
Posted April 9, 2020 6:51 am.
Last Updated April 9, 2020 6:54 am.
This article is more than 5 years old.
BANGKOK (AP) — Shares powered ahead in Europe and Asia today after a 3.4% rally on Wall Street Wednesday. Benchmarks rose in Paris, London and Hong Kong and ended flat in Tokyo. A meeting of oil producers planned for today has raised hopes that energy companies might get some relief in the form of production cuts to help support crude prices.
UNDATED (AP) — The U.S. government is set to report unemployment claims this morning. That number is expected to bring shock even after a record nearly 10 million people applied for benefits in the previous two weeks because of business shutdowns from the coronavirus.
UNDATED (AP) — The steep drop in air travel is passing a milestone. Fewer than 100,000 people went through airport checkpoints on Tuesday, the lowest number since the Transportation Security Administration started keeping track. That’s down 95% from a year ago and could be the smallest number since the 1950s. There was no commercial air travel in the U.S. for several days after the terror attacks in September 2001, but people gradually got back on planes over the following months.
BOSTON (AP) — The Mortgage Bankers Associated reports that mortgage applications to buy a home fell 12% in the week that ended April 3 compared with the previous week. That 12% figure is a stunning 33% lower than in the same week last year. The mortgage industry itself is reeling as hundreds of thousands of Americans have temporarily stopped paying their mortgages under the federal coronavirus relief bill.
NEW YORK (AP) — Small business owners say they’re essentially in limbo. While a few have gotten funds, many whose loan applications were accepted by their banks are unsure about when they’ll see the money. Some were told they’d hear something in three to five business days. Some businesses can afford to wait, but many others say they’ll soon go out of business. Companies with no more than 500 employees at each physical location can apply for a loan of up to $10 million.
The Associated Press
