This article is from the source 'nytimes' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at https://www.nytimes.com/2020/03/13/business/live-stock-market-today-updates.html

The article has changed 42 times. There is an RSS feed of changes available.

Version 37 Version 38
Stocks Rally as Trump and Business Leaders Pledge Support Stocks Rally as Trump and Business Leaders Pledge Support
(about 16 hours later)
Stocks rallied Friday, rebounding from their worst day in more than 30 years, after President Trump said leaders of private companies in the United States had agreed to help with efforts to test for the coronavirus, and declared a national emergency that would free billions in funding to fight the epidemic.Stocks rallied Friday, rebounding from their worst day in more than 30 years, after President Trump said leaders of private companies in the United States had agreed to help with efforts to test for the coronavirus, and declared a national emergency that would free billions in funding to fight the epidemic.
The S&P 500 rose more than 9 percent, making Friday its best day since 2008, with most of the gains coming late in the day as government officials and business executives spoke at a news conference at the White House.The S&P 500 rose more than 9 percent, making Friday its best day since 2008, with most of the gains coming late in the day as government officials and business executives spoke at a news conference at the White House.
Though he was short on details, Mr. Trump said the administration was working with Google to develop a website to determine whether an individual needs a test — a move aimed at avoiding overwhelming the health system with people who are ill but do not necessarily need to be tested for coronavirus. Google later said the site would initially only be used around San Francisco, “with the hope of expanding it more broadly over time.”Though he was short on details, Mr. Trump said the administration was working with Google to develop a website to determine whether an individual needs a test — a move aimed at avoiding overwhelming the health system with people who are ill but do not necessarily need to be tested for coronavirus. Google later said the site would initially only be used around San Francisco, “with the hope of expanding it more broadly over time.”
The chief executives of Walmart, Target and Walgreens all said they had agreed to make facilities available for testing. Executives from CVS Health, Roche Diagnostics and Signify Health were also in attendance at the news conference.The chief executives of Walmart, Target and Walgreens all said they had agreed to make facilities available for testing. Executives from CVS Health, Roche Diagnostics and Signify Health were also in attendance at the news conference.
Mr. Trump also said he would waive interest on all student loans held by all government agencies, and that the energy secretary would be buying “large quantities of oil” to fill up the country’s strategic reserve — an effort to bolster flagging oil prices.Mr. Trump also said he would waive interest on all student loans held by all government agencies, and that the energy secretary would be buying “large quantities of oil” to fill up the country’s strategic reserve — an effort to bolster flagging oil prices.
Later Friday evening, Speaker Nancy Pelosi told Democratic lawmakers she had reached an agreement with the Trump administration on a coronavirus relief package. She had already said the House of Representatives would vote on it Friday. Not long after, even as congressional and administration aides negotiated the final legislative language of the compromise, Steven Mnuchin, the Treasury secretary, confirmed it would move forward.Later Friday evening, Speaker Nancy Pelosi told Democratic lawmakers she had reached an agreement with the Trump administration on a coronavirus relief package. She had already said the House of Representatives would vote on it Friday. Not long after, even as congressional and administration aides negotiated the final legislative language of the compromise, Steven Mnuchin, the Treasury secretary, confirmed it would move forward.
Financial markets have been nothing if not inconsistent for the past three weeks, plunging and then rising, and then plunging again, as each day brought new measures to contain the outbreak and new worries that the economy, workers and businesses would take a hit as a result of them.Financial markets have been nothing if not inconsistent for the past three weeks, plunging and then rising, and then plunging again, as each day brought new measures to contain the outbreak and new worries that the economy, workers and businesses would take a hit as a result of them.
On Thursday, stocks had their biggest daily drop since the stock market crashed in 1987, as Mr. Trump’s ban on the entry to the United States from most European countries disappointed investors, who had been waiting for Washington to take stronger steps to bolster the economy. For the S&P 500, Friday’s gains recouped most of those losses.On Thursday, stocks had their biggest daily drop since the stock market crashed in 1987, as Mr. Trump’s ban on the entry to the United States from most European countries disappointed investors, who had been waiting for Washington to take stronger steps to bolster the economy. For the S&P 500, Friday’s gains recouped most of those losses.
Google is working with Verily, a life sciences unit of its parent company Alphabet, to direct individuals with a high risk of coronavirus infection to testing sites.Google is working with Verily, a life sciences unit of its parent company Alphabet, to direct individuals with a high risk of coronavirus infection to testing sites.
But the program will not be as sweeping as President Trump suggested. (Google’s shares surged, to a gain of more than 9 percent, as Mr. Trump spoke on Friday.)But the program will not be as sweeping as President Trump suggested. (Google’s shares surged, to a gain of more than 9 percent, as Mr. Trump spoke on Friday.)
Late Friday, Carolyn Wang, a spokeswoman for Verily, said it was hoping to create a website to help “triage” people for virus screening. She said the aim was for the website to be available Monday “at the latest,” but that it would be limited to screening individuals for appointments at testing sites in the Bay Area only.Late Friday, Carolyn Wang, a spokeswoman for Verily, said it was hoping to create a website to help “triage” people for virus screening. She said the aim was for the website to be available Monday “at the latest,” but that it would be limited to screening individuals for appointments at testing sites in the Bay Area only.
If the pilot goes well, Verily aims to deploy the project nationwide, but there is no timetable for a national rollout. When asked to confirm Mr. Trump’s statement of 1,700 Google engineers assigned to the project, Ms. Wang declined to comment. She said, however, that the president might have been talking about the number of Google employees who had expressed an interest in volunteering for the project of creating a triage site that would feature a series of questions for people with symptoms of the virus.If the pilot goes well, Verily aims to deploy the project nationwide, but there is no timetable for a national rollout. When asked to confirm Mr. Trump’s statement of 1,700 Google engineers assigned to the project, Ms. Wang declined to comment. She said, however, that the president might have been talking about the number of Google employees who had expressed an interest in volunteering for the project of creating a triage site that would feature a series of questions for people with symptoms of the virus.
Alphabet’s chief executive, Sundar Pichai, had sent employees an internal memo on Thursday seeking volunteers to build the website.Alphabet’s chief executive, Sundar Pichai, had sent employees an internal memo on Thursday seeking volunteers to build the website.
“A planning effort is underway to use the expertise in life sciences and clinical research of Verily in partnership with Google to aid in the COVID-19 testing effort,” Mr. Pichai wrote in the memo, which was obtained by The New York Times.“A planning effort is underway to use the expertise in life sciences and clinical research of Verily in partnership with Google to aid in the COVID-19 testing effort,” Mr. Pichai wrote in the memo, which was obtained by The New York Times.
He explained that once more tests become available, the plan was to have public health officials direct people to a Verily website that can steer people at higher risk to testing sites. Mr. Pichai did not lay out how many engineers would be assigned to the project, but he asked for volunteers interested in working on the project.He explained that once more tests become available, the plan was to have public health officials direct people to a Verily website that can steer people at higher risk to testing sites. Mr. Pichai did not lay out how many engineers would be assigned to the project, but he asked for volunteers interested in working on the project.
As part of his emergency declaration on Friday, President Trump said he was waiving interest on tens of millions of student loans held by the federal government until further notice. But here’s the catch: Monthly payments are not actually going to decrease.As part of his emergency declaration on Friday, President Trump said he was waiving interest on tens of millions of student loans held by the federal government until further notice. But here’s the catch: Monthly payments are not actually going to decrease.
Instead, people will pay the same amount they are currently paying. The difference is that the full sum will go toward the principal on their loans, according to a Department of Education spokeswoman.Instead, people will pay the same amount they are currently paying. The difference is that the full sum will go toward the principal on their loans, according to a Department of Education spokeswoman.
That means they could pay their loans down faster, but they won’t have more money in their pockets now.That means they could pay their loans down faster, but they won’t have more money in their pockets now.
Mr. Trump said waiving the interest on their loans would help borrowers and their families. “That’s a big thing for a lot of students that are left in the middle right now,” he said.Mr. Trump said waiving the interest on their loans would help borrowers and their families. “That’s a big thing for a lot of students that are left in the middle right now,” he said.
How much the waiver saves a borrower over time will vary depending on the interest rate on their loan. Interest rates on fixed-rate loans to undergraduate and graduate students range from 4.53 percent to 7.08 percent.How much the waiver saves a borrower over time will vary depending on the interest rate on their loan. Interest rates on fixed-rate loans to undergraduate and graduate students range from 4.53 percent to 7.08 percent.
The biggest benefit may be to borrowers who have paused their monthly payments because of hardship, or may in the future. In student loan terms, this is known as forbearance. Normally, the interest on their loans would continue to pile up, but that won’t happen during the waiver period.The biggest benefit may be to borrowers who have paused their monthly payments because of hardship, or may in the future. In student loan terms, this is known as forbearance. Normally, the interest on their loans would continue to pile up, but that won’t happen during the waiver period.
The department said it expected the waiver program to go into effect in the next week, and said it would be retroactive to Friday.
Updated June 22, 2020Updated June 22, 2020
A commentary published this month on the website of the British Journal of Sports Medicine points out that covering your face during exercise “comes with issues of potential breathing restriction and discomfort” and requires “balancing benefits versus possible adverse events.” Masks do alter exercise, says Cedric X. Bryant, the president and chief science officer of the American Council on Exercise, a nonprofit organization that funds exercise research and certifies fitness professionals. “In my personal experience,” he says, “heart rates are higher at the same relative intensity when you wear a mask.” Some people also could experience lightheadedness during familiar workouts while masked, says Len Kravitz, a professor of exercise science at the University of New Mexico.A commentary published this month on the website of the British Journal of Sports Medicine points out that covering your face during exercise “comes with issues of potential breathing restriction and discomfort” and requires “balancing benefits versus possible adverse events.” Masks do alter exercise, says Cedric X. Bryant, the president and chief science officer of the American Council on Exercise, a nonprofit organization that funds exercise research and certifies fitness professionals. “In my personal experience,” he says, “heart rates are higher at the same relative intensity when you wear a mask.” Some people also could experience lightheadedness during familiar workouts while masked, says Len Kravitz, a professor of exercise science at the University of New Mexico.
The steroid, dexamethasone, is the first treatment shown to reduce mortality in severely ill patients, according to scientists in Britain. The drug appears to reduce inflammation caused by the immune system, protecting the tissues. In the study, dexamethasone reduced deaths of patients on ventilators by one-third, and deaths of patients on oxygen by one-fifth.The steroid, dexamethasone, is the first treatment shown to reduce mortality in severely ill patients, according to scientists in Britain. The drug appears to reduce inflammation caused by the immune system, protecting the tissues. In the study, dexamethasone reduced deaths of patients on ventilators by one-third, and deaths of patients on oxygen by one-fifth.
The coronavirus emergency relief package gives many American workers paid leave if they need to take time off because of the virus. It gives qualified workers two weeks of paid sick leave if they are ill, quarantined or seeking diagnosis or preventive care for coronavirus, or if they are caring for sick family members. It gives 12 weeks of paid leave to people caring for children whose schools are closed or whose child care provider is unavailable because of the coronavirus. It is the first time the United States has had widespread federally mandated paid leave, and includes people who don’t typically get such benefits, like part-time and gig economy workers. But the measure excludes at least half of private-sector workers, including those at the country’s largest employers, and gives small employers significant leeway to deny leave.The coronavirus emergency relief package gives many American workers paid leave if they need to take time off because of the virus. It gives qualified workers two weeks of paid sick leave if they are ill, quarantined or seeking diagnosis or preventive care for coronavirus, or if they are caring for sick family members. It gives 12 weeks of paid leave to people caring for children whose schools are closed or whose child care provider is unavailable because of the coronavirus. It is the first time the United States has had widespread federally mandated paid leave, and includes people who don’t typically get such benefits, like part-time and gig economy workers. But the measure excludes at least half of private-sector workers, including those at the country’s largest employers, and gives small employers significant leeway to deny leave.
So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement.So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement.
Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks.Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks.
A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study.A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study.
The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April.The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April.
States are reopening bit by bit. This means that more public spaces are available for use and more and more businesses are being allowed to open again. The federal government is largely leaving the decision up to states, and some state leaders are leaving the decision up to local authorities. Even if you aren’t being told to stay at home, it’s still a good idea to limit trips outside and your interaction with other people.States are reopening bit by bit. This means that more public spaces are available for use and more and more businesses are being allowed to open again. The federal government is largely leaving the decision up to states, and some state leaders are leaving the decision up to local authorities. Even if you aren’t being told to stay at home, it’s still a good idea to limit trips outside and your interaction with other people.
Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days.Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days.
If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.)If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.)
If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others.If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others.
If you’re sick and you think you’ve been exposed to the new coronavirus, the C.D.C. recommends that you call your healthcare provider and explain your symptoms and fears. They will decide if you need to be tested. Keep in mind that there’s a chance — because of a lack of testing kits or because you’re asymptomatic, for instance — you won’t be able to get tested.If you’re sick and you think you’ve been exposed to the new coronavirus, the C.D.C. recommends that you call your healthcare provider and explain your symptoms and fears. They will decide if you need to be tested. Keep in mind that there’s a chance — because of a lack of testing kits or because you’re asymptomatic, for instance — you won’t be able to get tested.
The department said it expected the waiver program to go into effect in the next week, and said it would be retroactive to Friday.
One of the main selling points for Bitcoin has been that it would serve as a safe place to keep money during times of turmoil, like a digital version of gold. This promise has not held up well during the recent market gyrations.One of the main selling points for Bitcoin has been that it would serve as a safe place to keep money during times of turmoil, like a digital version of gold. This promise has not held up well during the recent market gyrations.
Gold has held its value better than most other investments over the last month, but the price of a Bitcoin has fallen around 50 percent, to under $5,000 — a much sharper drop than American stocks. Thursday was the cryptocurrency’s worst day in seven years.Gold has held its value better than most other investments over the last month, but the price of a Bitcoin has fallen around 50 percent, to under $5,000 — a much sharper drop than American stocks. Thursday was the cryptocurrency’s worst day in seven years.
Critics of Bitcoin have been gleefully posting on social media the many times that prominent advocates of the cryptocurrency had said that it would be a good refuge in times of economic uncertainty.Critics of Bitcoin have been gleefully posting on social media the many times that prominent advocates of the cryptocurrency had said that it would be a good refuge in times of economic uncertainty.
Advocates of the cryptocurrency have said that Bitcoin is not mature enough to be a safe haven yet, but that it will be in the future.Advocates of the cryptocurrency have said that Bitcoin is not mature enough to be a safe haven yet, but that it will be in the future.
Some retailers of apparel and other discretionary items are temporarily closing their doors to help prevent the further spread of the coronavirus. The outdoor-gear brand Patagonia posted a letter from its chief executive on its website on Friday, saying that the brand would temporarily close its stores and offices until at least March 27. At that point it will “reassess and post an update.” That includes 39 stores in North America, including two in Canada, the company said.Some retailers of apparel and other discretionary items are temporarily closing their doors to help prevent the further spread of the coronavirus. The outdoor-gear brand Patagonia posted a letter from its chief executive on its website on Friday, saying that the brand would temporarily close its stores and offices until at least March 27. At that point it will “reassess and post an update.” That includes 39 stores in North America, including two in Canada, the company said.
Patagonia also said on Friday that it was temporarily unable to accept orders on its website and asked customers to check back for an update on Monday at 4 p.m.Patagonia also said on Friday that it was temporarily unable to accept orders on its website and asked customers to check back for an update on Monday at 4 p.m.
Glossier, the beauty start-up, also said on Friday that it planned to close its stores for at least two weeks beginning on Friday and delay a planned store opening in Arizona. Buck Mason, a men’s wear brand with 10 stores, will also temporarily close its locations.Glossier, the beauty start-up, also said on Friday that it planned to close its stores for at least two weeks beginning on Friday and delay a planned store opening in Arizona. Buck Mason, a men’s wear brand with 10 stores, will also temporarily close its locations.
Is isolating yourself because you might have been exposed to the coronavirus the same as calling in sick?Is isolating yourself because you might have been exposed to the coronavirus the same as calling in sick?
That’s the question that United Automobile Workers union officials are negotiating with Fiat Chrysler, and expect to take up with General Motors and Ford Motor. The union wants to make sure that members who stay away from work to avoid potentially spreading infection are eligible to collect sick pay, even if they have not developed symptoms of illness.That’s the question that United Automobile Workers union officials are negotiating with Fiat Chrysler, and expect to take up with General Motors and Ford Motor. The union wants to make sure that members who stay away from work to avoid potentially spreading infection are eligible to collect sick pay, even if they have not developed symptoms of illness.
The union and Fiat Chrysler “are working together during this unprecedented and challenging situation,” said Cindy Estrada, a union vice president. “The U.A.W. feels strongly that no member should be disadvantaged in response to the COVID-19 process.”The union and Fiat Chrysler “are working together during this unprecedented and challenging situation,” said Cindy Estrada, a union vice president. “The U.A.W. feels strongly that no member should be disadvantaged in response to the COVID-19 process.”
For now, the question is mostly hypothetical. Fiat Chrysler and Ford said Friday that they knew of no American workers who were infected. That was also true of G.M., though it said “a small number” had quarantined themselves at home because they had traveled to South Korea or other affected areas in the last few weeks.For now, the question is mostly hypothetical. Fiat Chrysler and Ford said Friday that they knew of no American workers who were infected. That was also true of G.M., though it said “a small number” had quarantined themselves at home because they had traveled to South Korea or other affected areas in the last few weeks.
Delta will cut 40 percent of its flights over the next few months — more than it did after the 9/11 terrorist attacks — and is also parking up to to 300 planes, offering unpaid leaves, freezing hiring, scaling back its use of consultants and contractors and slashing capital spending by at least $2 billion for the year.Delta will cut 40 percent of its flights over the next few months — more than it did after the 9/11 terrorist attacks — and is also parking up to to 300 planes, offering unpaid leaves, freezing hiring, scaling back its use of consultants and contractors and slashing capital spending by at least $2 billion for the year.
American consumers were slightly less confident in early March compared with a month ago, according to the latest University of Michigan consumer confidence index, reflecting early fears about the spread of coronavirus and its impact on the stock market.American consumers were slightly less confident in early March compared with a month ago, according to the latest University of Michigan consumer confidence index, reflecting early fears about the spread of coronavirus and its impact on the stock market.
Reporting was contributed by Nathaniel Popper, Sapna Maheshwari, Deborah Solomon, Neal Boudette, Ron Lieber, Tara Siegel Bernard, Alexandra Stevenson, Jeanna Smialek, Niraj Chokshi, Jim Tankersley, Cao Li, Matt Phillips, Amie Tsang, Carlos Tejada, Brooks Barnes, Tiffany Hsu, Mohammed Hadi and Katie Robertson.Reporting was contributed by Nathaniel Popper, Sapna Maheshwari, Deborah Solomon, Neal Boudette, Ron Lieber, Tara Siegel Bernard, Alexandra Stevenson, Jeanna Smialek, Niraj Chokshi, Jim Tankersley, Cao Li, Matt Phillips, Amie Tsang, Carlos Tejada, Brooks Barnes, Tiffany Hsu, Mohammed Hadi and Katie Robertson.