“The biggest investing errors come not from factors that are informational or analytical, but from those that are psychological. Investor”
― Howard Marks

1. U.S. Domestic Flights Could Virtually Shut Down — major U.S. airlines are drafting plans for a potential voluntary shutdown of virtually all passenger flights across the U.S., according to industry and federal officials, as government agencies also consider ordering such a move and the nation’s air-traffic control system continues to be ravaged by the coronavirus contagion. U.S. airlines have already eliminated the vast majority of international flying and have announced plans to cut back domestic flying by as much as 40%. Travelers are staying home at even greater rates. The Transportation Security Administration reported that passenger flow at its checkpoints was down more than 80% Sunday from the same day a year earlier.
2. The U.S. Has the Third-Highest Number of Coronavirus Infections, China is Lifting Quarantine Measures in Hubei Province — the U.S. reported more than 13,000 new cases yesterday, according to data compiled by Johns Hopkins University. With 46,450 reported infections, the U.S. has the third-highest number of cases after China and Italy. In China, Chinese authorities are planning to lift the quarantine on healthy people in Hubei province, the initial center of the coronavirus pandemic. Hubei authorities will end restrictions on outbound traffic starting tomorrow, with the exception of its capital city of Wuhan, which will block departures for two more weeks.
3. Deal Reached on $2 Trillion Coronavirus Rescue Bill — lawmakers and the Trump administration have struck a preliminary agreement on a sweeping stimulus package. It will provide direct checks to many Americans, drastically expand unemployment insurance, offer hundreds of billions in loans to businesses and give additional resources to health-care providers.
The bill, designed to offer relief to individuals, the health-care system and even an entire corporate sector ravaged by the outbreak, would:

4. The U.S. Now Has the World’s Most Coronavirus Cases / Updates– the U.S. has surpassed China and Italy to become the nation with the most confirmed coronavirus cases, marking a new milestone in the fight against the pandemic. There were nearly 86,000 infections in the U.S., according to data compiled by Johns Hopkins University. New York state’s 39,140 infections–tens of thousands more than in any other state–accounted for almost half of all U.S. cases. The country’s death toll stood at 1,300, according to Johns Hopkins.

The week ahead — Economic data from Econoday.com:

This entry was posted on Monday, March 30th, 2020 at 12:23 pm and is filed under Weekly Summary. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.