'Stocks Rally After Talk of Reopening Economy' diff viewer (10/11)

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Version 10	Version 11
Stock Markets Rally on Signs of Progress: Live Updates	Stock Markets Rally on Signs of Progress: Live Updates
2020-04-17 13:52:20 UTC	2020-04-17 14:24:16 UTC (32 minutes later)
Stocks in the United States rallied on Friday, with efforts to reopen the economy taking center stage and investors undeterred by more data showing the economic damage of the coronavirus pandemic.	Stocks in the United States rallied on Friday, with efforts to reopen the economy taking center stage and investors undeterred by more data showing the economic damage of the coronavirus pandemic.
The gains came after President Trump told governors on Thursday that they could begin reopening businesses in their states by May 1 or earlier, and Boeing — one of the nation’s largest manufacturers — said it plans to bring about 27,000 employees back to work in Washington State to resume aircraft production.	The gains came after President Trump told governors on Thursday that they could begin reopening businesses in their states by May 1 or earlier, and Boeing — one of the nation’s largest manufacturers — said it plans to bring about 27,000 employees back to work in Washington State to resume aircraft production.
The announcement is the first attempt at large-scale resumption of business activity by a U.S. corporation since the coronavirus outbreak forced companies and government officials to shut down most nonessential work. Boeing’s shares rose 11 percent on Friday.	The announcement is the first attempt at large-scale resumption of business activity by a U.S. corporation since the coronavirus outbreak forced companies and government officials to shut down most nonessential work. Boeing’s shares rose 11 percent on Friday.
~~The S&P 500 rose about 2 percent in early trading. European markets were also trading 3 to 4 percent higher after an upbeat day in Asia.~~	The S&P 500 rose about 2 percent in early trading. European markets were also trading 3 to 4 percent higher after an upbeat day in Asia.
After global stock markets nose-dived earlier this year, they have been rebounding since late March, as investors have routinely looked past evidence of the damage caused by stay-at-home orders and business shutdowns, and instead focused on hopes for an eventual recovery.	After global stock markets nose-dived earlier this year, they have been rebounding since late March, as investors have routinely looked past evidence of the damage caused by stay-at-home orders and business shutdowns, and instead focused on hopes for an eventual recovery.
On Friday, the rally came after China reported that its economy — the world’s second largest — shrank for the first time in decades. And data on car sales in Europe showed they collapsed.	On Friday, the rally came after China reported that its economy — the world’s second largest — shrank for the first time in decades. And data on car sales in Europe showed they collapsed.
Some also saw hopeful signs in a report by the medical news website STAT that a drug from Gilead Sciences showed early — and, thus far, unproven — promise in fighting the coronavirus. According to STAT, the antiviral drug, remdesivir, has helped patients with severe symptoms recover rapidly in a clinical trial at a Chicago hospital. Gilead’s shares jumped more than 11 percent, making it the best performing stock in the S&P 500.	Some also saw hopeful signs in a report by the medical news website STAT that a drug from Gilead Sciences showed early — and, thus far, unproven — promise in fighting the coronavirus. According to STAT, the antiviral drug, remdesivir, has helped patients with severe symptoms recover rapidly in a clinical trial at a Chicago hospital. Gilead’s shares jumped more than 11 percent, making it the best performing stock in the S&P 500.
Still, without data from rigorous trials with control groups, it is impossible to know how effective the drug actually is. The National Institutes of Health is conducting a trial in which patients receive remdesivir or a placebo. The results will be known within weeks.	Still, without data from rigorous trials with control groups, it is impossible to know how effective the drug actually is. The National Institutes of Health is conducting a trial in which patients receive remdesivir or a placebo. The results will be known within weeks.
Over the past decade, far more workers who are eligible for Social Security have been waiting to file, often substantially increasing their lifetime annual benefits.	Over the past decade, far more workers who are eligible for Social Security have been waiting to file, often substantially increasing their lifetime annual benefits.
But the stunning job losses in the pandemic-induced economic crisis could bring this trend to a crashing halt, as suddenly unemployed older workers without substantial savings scramble to meet living expenses.	But the stunning job losses in the pandemic-induced economic crisis could bring this trend to a crashing halt, as suddenly unemployed older workers without substantial savings scramble to meet living expenses.
Even in good times, there is no simple, one-size-fits-all answer when it comes to timing a claim — your longevity, savings and any other pension income are important factors. Now the decision is complicated by the highly uncertain outlook for the economy, jobs and financial markets.	Even in good times, there is no simple, one-size-fits-all answer when it comes to timing a claim — your longevity, savings and any other pension income are important factors. Now the decision is complicated by the highly uncertain outlook for the economy, jobs and financial markets.
But even if you need Social Security income immediately, you may have options worth considering that can boost lifetime benefits. Our Retiring columnist, Mark Miller, walks you through the key questions to consider.	But even if you need Social Security income immediately, you may have options worth considering that can boost lifetime benefits. Our Retiring columnist, Mark Miller, walks you through the key questions to consider.
The coronavirus outbreak has brought China’s extraordinary, nearly half-century-long run of growth to an end — a stark reminder of the enormous task ahead for world leaders trying to restart the global economy.	The coronavirus outbreak has brought China’s extraordinary, nearly half-century-long run of growth to an end — a stark reminder of the enormous task ahead for world leaders trying to restart the global economy.
China’s National Bureau of Statistics said on Friday morning that the country’s economic output shrank 6.8 percent from January through March compared to the same period last year. It’s the first economic shrinkage acknowledged in official statistics since 1976, when the country was in the final days of the Cultural Revolution, a national spasm of urban violence and torture.	China’s National Bureau of Statistics said on Friday morning that the country’s economic output shrank 6.8 percent from January through March compared to the same period last year. It’s the first economic shrinkage acknowledged in official statistics since 1976, when the country was in the final days of the Cultural Revolution, a national spasm of urban violence and torture.
The stark numbers reflect China’s dramatic efforts to stamp out the coronavirus, which included shutting down most factories and offices in January and February as the outbreak sickened tens of thousands of people.	The stark numbers reflect China’s dramatic efforts to stamp out the coronavirus, which included shutting down most factories and offices in January and February as the outbreak sickened tens of thousands of people.
They also illustrate how hard it will be to get the global economy back on its feet.	They also illustrate how hard it will be to get the global economy back on its feet.
China is trying to restart its vast, $14 trillion economy, an effort that could give the rest of the world a much-needed shot in the arm. But the spread of the virus to Europe and the United States has sharply cut the world’s appetite for China’s goods. That could lead to factory shutdowns and worker furloughs.	China is trying to restart its vast, $14 trillion economy, an effort that could give the rest of the world a much-needed shot in the arm. But the spread of the virus to Europe and the United States has sharply cut the world’s appetite for China’s goods. That could lead to factory shutdowns and worker furloughs.
Since the coronavirus outbreak reached the United States, Amazon — a company built on the promise that people will always want more items, more quickly — has struggled to respond to a surge in orders. Sometimes products are in stock. Sometimes they aren’t. Its popular page featuring Deals of the Day, once a prominent feature, has been buried. The company is even trying to tamp down demand.	Since the coronavirus outbreak reached the United States, Amazon — a company built on the promise that people will always want more items, more quickly — has struggled to respond to a surge in orders. Sometimes products are in stock. Sometimes they aren’t. Its popular page featuring Deals of the Day, once a prominent feature, has been buried. The company is even trying to tamp down demand.
For consumers, the changes have generated confusion just as people have turned more than ever to online shopping to help protect themselves from the virus. The company tells customers that some products will arrive in weeks, rather than hours or days. And the sense of endless bounty on the site has eroded.	For consumers, the changes have generated confusion just as people have turned more than ever to online shopping to help protect themselves from the virus. The company tells customers that some products will arrive in weeks, rather than hours or days. And the sense of endless bounty on the site has eroded.
“It is almost like a run on the bank, when there is a rumor you can’t get your money out and everyone runs to the A.T.M.,” said Guru Hariharan, whose company, CommerceIQ, advises large consumer brands with their Amazon business.	“It is almost like a run on the bank, when there is a rumor you can’t get your money out and everyone runs to the A.T.M.,” said Guru Hariharan, whose company, CommerceIQ, advises large consumer brands with their Amazon business.
New data on Friday gave the first concrete indication of how severely European carmakers were hit by coronavirus lockdowns, and it was every bit as bad as feared.	New data on Friday gave the first concrete indication of how severely European carmakers were hit by coronavirus lockdowns, and it was every bit as bad as feared.
New car registrations in the European Union fell 55 percent last month compared to a year earlier, the European Automobile Manufacturers Association said, as dealers closed their doors and buyers were stuck in their homes. Owners registered 570,000 new cars during the month, down from 1.3 million in March 2019.	New car registrations in the European Union fell 55 percent last month compared to a year earlier, the European Automobile Manufacturers Association said, as dealers closed their doors and buyers were stuck in their homes. Owners registered 570,000 new cars during the month, down from 1.3 million in March 2019.
Sales all but evaporated in Italy, the European country that went into lockdown the earliest, falling 85 percent. Spain and France also suffered declines of around 70 percent.	Sales all but evaporated in Italy, the European country that went into lockdown the earliest, falling 85 percent. Spain and France also suffered declines of around 70 percent.
Carmakers that depend on southern Europe for sales also suffered the most. Fiat Chrysler sales plummeted 77 percent. PSA, whose brands include Peugeot, Citroën and Opel, suffered a 68 percent plunge in sales.	Carmakers that depend on southern Europe for sales also suffered the most. Fiat Chrysler sales plummeted 77 percent. PSA, whose brands include Peugeot, Citroën and Opel, suffered a 68 percent plunge in sales.
German carmakers BMW, Daimler and Volkswagen fared marginally better, with declines of less than 50 percent.	German carmakers BMW, Daimler and Volkswagen fared marginally better, with declines of less than 50 percent.
In a 2015 speech, Bill Gates warned that the greatest risk to humanity was not nuclear war but an infectious virus that could threaten the lives of millions of people.	In a 2015 speech, Bill Gates warned that the greatest risk to humanity was not nuclear war but an infectious virus that could threaten the lives of millions of people.
That speech has resurfaced in recent weeks with 25 million new views on YouTube — but not in the way that Mr. Gates probably intended.	That speech has resurfaced in recent weeks with 25 million new views on YouTube — but not in the way that Mr. Gates probably intended.
Anti-vaccinators, members of the conspiracy group QAnon and right-wing pundits have instead seized on the video as evidence that one of the world’s richest men planned to use a pandemic to wrest control of the global health system. Mr. Gates, 64, the Microsoft co-founder turned philanthropist, has now become the star of an explosion of conspiracy theories about the coronavirus outbreak. In posts on YouTube, Facebook and Twitter, he is being falsely portrayed as the creator of the virus, as a profiteer from a vaccine, and as part of a dastardly plot to use the illness to cull or surveil the global population.	Anti-vaccinators, members of the conspiracy group QAnon and right-wing pundits have instead seized on the video as evidence that one of the world’s richest men planned to use a pandemic to wrest control of the global health system. Mr. Gates, 64, the Microsoft co-founder turned philanthropist, has now become the star of an explosion of conspiracy theories about the coronavirus outbreak. In posts on YouTube, Facebook and Twitter, he is being falsely portrayed as the creator of the virus, as a profiteer from a vaccine, and as part of a dastardly plot to use the illness to cull or surveil the global population.
The wild claims have gained traction with conservative pundits like Laura Ingraham and anti-vaccinators such as Robert F. Kennedy Jr. as Mr. Gates has emerged as a vocal counterweight to President Trump on the coronavirus. For weeks, Mr. Gates has appeared on TV, on op-ed pages and in Reddit forums calling for stay-at-home policies, expanded testing and vaccine development. And without naming Mr. Trump, he has criticized the president’s policies, including this week’s move to cut funding to the World Health Organization.	The wild claims have gained traction with conservative pundits like Laura Ingraham and anti-vaccinators such as Robert F. Kennedy Jr. as Mr. Gates has emerged as a vocal counterweight to President Trump on the coronavirus. For weeks, Mr. Gates has appeared on TV, on op-ed pages and in Reddit forums calling for stay-at-home policies, expanded testing and vaccine development. And without naming Mr. Trump, he has criticized the president’s policies, including this week’s move to cut funding to the World Health Organization.
Three more months: That’s how long Ethiopian Airlines, Africa’s biggest and most profitable carrier, could continue functioning before seeking government support as its operations are hobbled by the coronavirus pandemic.	Three more months: That’s how long Ethiopian Airlines, Africa’s biggest and most profitable carrier, could continue functioning before seeking government support as its operations are hobbled by the coronavirus pandemic.
The airline has lost more than $500 million since January and has suspended over 90 percent of its passenger operations. But the state-owned carrier hopes to keep making money for now partly by boosting its cargo business, its chief executive officer, Tewolde GebreMariam, said in an interview on Thursday. This would include transporting goods between Africa and Europe and Asia, and distributing across Africa medical and humanitarian supplies to deal with the virus donated by the Chinese billionaire Jack Ma, United Nations agencies, and others.	The airline has lost more than $500 million since January and has suspended over 90 percent of its passenger operations. But the state-owned carrier hopes to keep making money for now partly by boosting its cargo business, its chief executive officer, Tewolde GebreMariam, said in an interview on Thursday. This would include transporting goods between Africa and Europe and Asia, and distributing across Africa medical and humanitarian supplies to deal with the virus donated by the Chinese billionaire Jack Ma, United Nations agencies, and others.
But that won’t sustain the airline beyond July, Mr. Tewolde said, adding that he wasn’t certain government officials would offer financial backing given all the “pressing priorities” they had at hand.	But that won’t sustain the airline beyond July, Mr. Tewolde said, adding that he wasn’t certain government officials would offer financial backing given all the “pressing priorities” they had at hand.
With 85 confirmed cases and three deaths as of Thursday, Ethiopia has declared a state of emergency to fight the pandemic. About 8.5 million of the nation’s 110 million people also face severe acute food insecurity. The World Health Organization has warned Africa could be the next epicenter of the virus, with cases expected to surge to 10 million within three to six months.	With 85 confirmed cases and three deaths as of Thursday, Ethiopia has declared a state of emergency to fight the pandemic. About 8.5 million of the nation’s 110 million people also face severe acute food insecurity. The World Health Organization has warned Africa could be the next epicenter of the virus, with cases expected to surge to 10 million within three to six months.
Mr. Tewolde, however, remained bullish on the airline’s ability to eventually rebound, saying it hadn’t canceled any fleet orders with Boeing or Airbus. He also denied reports of furloughing staff, saying that the airline still had 14,000 employees on its payroll. “We strongly believe that short-term shocks like this should not derail us from the long-term strategy,” he said.	Mr. Tewolde, however, remained bullish on the airline’s ability to eventually rebound, saying it hadn’t canceled any fleet orders with Boeing or Airbus. He also denied reports of furloughing staff, saying that the airline still had 14,000 employees on its payroll. “We strongly believe that short-term shocks like this should not derail us from the long-term strategy,” he said.
~~In another sign of how the pandemic is ravaging the aviation sector, Hong Kong’s flag carrier said on Friday that it would lay off its U.S.-based flight attendants.~~
“As a result of the Covid-19 pandemic which has virtually halted global travel, Cathay Pacific has made the difficult decision to close its U.S. cabin crew bases,” the airline said in a statement, adding that it had 286 U.S.-based flight attendants working out of New York, San Francisco and Los Angeles.
The airline said on Friday that it had 13,000 flight attendants overall. It said in an annual report last year that about 78 percent of the permanent staff worldwide at Cathay Pacific and Cathay Dragon, a sister airline, were based in Hong Kong.
Last month, Cathay Pacific closed its base for cabin crew members in Vancouver, cutting 147 jobs. It said on Thursday that it had carried 90 percent fewer passengers in March compared with the same period last year.