In this week’s recap we talk about what looks to be like a recover of the markets with the NASDAQ reaching new record highs and 19 hours after SpaceX’s Falcon 9 rocket lifted off Saturday from Florida, the Crew Dragon capsule docked with the International Space Station.
Hong Kong has its 1st $1B+ listing in over 6 months as Chinese internet company NetEase launched a 2nd listing that could raise as much as $2.8B. Hasn’t had a hiatus of billion-dollar IPO’s last this long since the financial crisis over a decade ago. Only $3.47B has been raised through IPOs in Hong Kong this year, putting it behind both New York & Mainland China.
A number of Facebook employees staged a virtual walkout Monday to protest CEO Mark Zuckerberg’s decision not to take action on a series of controversial posts from President Trump. Employees took the day off work. Managers have been told by the company’s human resources department, not to retaliate against staff who are planning to protest, or to make them use paid time-off.
Turkey’s Trade Minister Ruhsar Pekcan announces his country will re-open its Gurbulak border gate with Iran & the Habur border gate with Iraq this week, in order to help boost trade as the coronavirus pandemic containment measures are eased.
Global stocks maintain levels near 3-month highs on Friday, as the Euro hit its highest level since March 10, thanks to Europe’s stimulus boost, fueling investor hopes for a world-wide economic rebound.
Despite the ongoing effects of the coronavirus business shutdowns, the bell-weather stock index S&P 500 closed Tuesday at the highest level in nearly 3 months.
India and Australia strengthen their bilateral relationship; Kenya’s economy scales up positions in Africa; The U.S. labor force participation rate increasing; 100’s of Italian denounce the pandemic as a scam; Oil prices continue to rise in anticipation of future cuts.