Syed Zaki HussainTop five things to know before market open on April 30th, 2020
1. Oil Storage, Jolts at Market to continue Los Angeles beach full of oil tankers holding 20% oil of the world. Fears are mounting over June Contracts. Even the Top U.S. Oil Fund Is Becoming Bearish about Oil, and is expected to remain out of money for next contracts amid low consumption.
2. COVID-19, firm at keeping the world down Lockdown eyeing at 2nd half of 2020 A Singapore based research and statistics portal which has most widely been used for information on COVID-19, has published data driven forecasts which suggests that lockdown may remain into vogue until 2021
3. Wall Street jumps on coronavirus drug hopes optimism on the cards!!! U.S. stocks jumped to seven-week highs on Wednesday as Gilead Sciences gave an encouraging update on a potential COVID-19 treatment and upbeat earnings from Google-parent Alphabet boosted shares of other technology and internet giants
4. Oil Rises, AMID HOPE FOR DRUG Oil markets headed higher Wednesday, rebounding as positive news from trials of a potential treatment for the Covid-19 virus fostered hopes of a quick rebound in fuel demand.
5. Govt. urged to defer banks markups -Islamabad Chamber of Commerce call for deferment of markup Islamabad Chamber of Commerce and Industry (ICCI) has urged the government to defer the banks mark-up on running finance of businesses/industries for 6 months to 1 year.
They said due to closure of business activities on account of lockdown caused by COVID-19, it was not possible for businesses and industries to pay mark up on running finance in these tough times.
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