How’s your Thursday?

U.S. Economy

GDP Drops 4.8% To Lowest Point Since 2008—And the Sinking Isn’t Done Yet

The coronavirus pandemic and subsequent economic shutdown has triggered the biggest drop in gross domestic product in the first quarter since 2008. Experts say this is just the warmup to an even more massive decline that will occur in Q2. GDP is considered the official scorecard for economic growth and showed a decline of 4.8%. The worldwide spread of the coronavirus began to nip at the edges of the U.S. economy early in the quarter before…

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Precious Metals

COVID-19 Economic Crisis Hurting Silver Production the Most, Gold the Least

Mining has also taken its share of blows since the economic shutdown due to the coronavirus, with silver mining feeling the most pain, according to the GlobalData report. Their report looked at the different mining sectors and how they have been affected across the globe. Gold has been the least affected precious metal out of all the major mining sectors the report looked at.

SEE MORE STATS ON OTHER METALS LIKE URANIUM, PLATINUM AND COPPER →

U.S. Economy

Don’t Expect Companies to Move Their Supply Chains Our of China

There was already a higher than normal amount of tension between the United States and China before Wuhan began reporting their coronavirus epidemic—the pandemic has only heightened tensions between the two nations since February. But don’t expect businesses that have manufacturing plants in China to move out any time soon. That’s what analysts with Morgan Stanley suggest. Their reasoning? Cash-starved companies currently lack the funds to invest in new operations and tinker with existing supply chains. At the same time, Chinese assembly lines have been swift to…

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Global Banking

This Bank is Closing Its Metals Business

For years they were the world’s biggest lender to the physical precious metals industry, but that is coming to an end—Bank of Nova Scotia (Scotiabank) told staff on Tuesday it would close its metals business, drawing a curtain on of the best known names in precious metals trading. The bank has a long history going back to the founding in 1684 of…

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Tech Industry

Microsoft Feels Little Pain During Pandemic—Revenue Shows Why

Microsoft has said the coronavirus pandemic has had “minimal net impact” on its business so far as their strong sales exceeded expectations. The Company said sales rose 15 percent to $35 billion in the third quarter, bolstered by strong results in its…

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Federal Reserve

How Long the Federal Reserve Will Keep Interest Rates at Zero is Still Unknown

Federal Reserve chairman Jerome Powell explains how low-interest rates impact and support many economic channels.

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Stock Market

Current Stock Market Surge is a Bear Market Rally that Will Collapse

Market researcher James Bianco is warning anyone who will listen that April’s big stock market run is going to collapse. His reason: Investors are too…

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Airline Industry

Desperate for Business, This Commercial Airline Plan to Deliver Packages for Amazon

Apollo owned Sun Country is planning to have their full fleet of 10 Boeing 737 freighters begin transporting packages for Amazon. The hurting airline, facing a dearth of passengers due to the coronavirus pandemic, is also shelving plans for an initial public offering.

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