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Recap June 21: Tesla Asks Austin for Tax Break – Apple at Record Highs (Recap Ep076)

This week, the world stocks were moved by the fears of a second coronavirus outbreak and the tensions between the US and China. On the other hand, global markets rally Tuesday and Wednesday after the U.S. Federal Reserve launched measures meant to ease the strain on markets & help businesses hurt by the coronavirus pandemic with the Lending Program.

U.S. President Trump, facing widespread criticism that his policies & inflammatory rhetoric have aggravated a racial divide in the United States, signed an executive order on Tuesday, that he says will reform police practices, even as he calls for law & order nationwide & for Congressional action.

The U.K. & the European Union say they will intensify negotiations on reaching a comprehensive agreement on the terms of their future relationship. Four main areas to cover include a fair playing field for all companies, fishing, police cooperation & governance in European wide institutions.

Shares of JD.com soared 5.7% at the open on their 1st day of trading in Hong Kong, in a secondary listing that will give the e-commerce giant proceeds of $3.87B. Follows listings by rival Alibaba & gaming firm NetEase as rising U.S.-China tensions lead to more scrutiny of foreign firms listed on American exchanges.

Apple also reached a new all-time high of $356.56, with a market capitalization of $1.52T, maintaining its position as the most valuable U.S. company.

Qantas has canceled its international flights for 4 months; U.S. weekly jobless claims exceeded the forecast; the U.S. pulls out of talks over a new global tax framework; Swiss National Bank to maintain negative interest rates; Lighthizer to push WTO for tariff adjustments; Home loan costs hit record lows in the US; charging stations for electric cars increased 60% in 2019; North-South Korean relations office was destroyed.

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