Global stock prices gain … Survey: Most economists expect shrinking GDP over next year … More business allowed to open in GA
BEIJING (AP) – Global stock prices gained today after Japan’s central bank boosted support for financial markets as more governments prepared to reopen economies that were shut down to fight the coronavirus pandemic. In early trading, London’s FTSE 100 opened 1.4% higher and Germany’s DAX gained 2.1%. The CAC 40 in France added 1.6%. In Asia, the Shanghai Composite Index gained 0.3% while the Nikkei in Tokyo rose 2.7%. The Hang Seng in Hong Kong added 1.9% and Seoul’s Kospi closed 1.8% higher. Dow and S&P futures are both up 0.9%.
WASHINGTON (AP) – A survey of U.S. business economists in mid-April found that one-third of their companies had shut down at least some of their operations, and two-thirds had laid off or furloughed workers or cut their pay to try to minimize the impact of the coronavirus. The National Association for Business Economics reports in a survey that economic prospects have nosedived, with 86% of the 107 NABE members who were surveyed expectingáa shrinking gross domestic product over the coming year.
ATLANTA (AP) – Georgia’s reopening is set to continue today when movie theaters can welcome customers and limited in-restaurant dining may resume in a loosening of coronavirus restrictions. This comes after other businesses, including barbershops, gyms, tattoo shops and nail salons, were allowed to start seeing customers Friday. Gov. Brian Kemp released 39 requirements that restaurants must follow, including a limit of 10 customers per 500 square feet and face coverings for all employees.
BANGKOK (A) -Contract driller Diamond Offshore has filed for bankruptcy, as the industry is hammered by crashing oil prices. Court documents show Houston-based Diamond Offshore Drilling Inc. filed the petition in Houston on Sunday. The global economic crisis caused by the coronavirus pandemic has devastated the oil industry in the U.S., which pumps more crude than any other country.
CAMARILLO, Calif. (AP) – The average U.S. price of regular-grade gasoline fell 9 cents over the past two weeks, to $1.93 per gallon. An analyst with the Lundberg Survey says prices at the pump have dropped 61 cents over the past nine weeks and 80 cents since mid-October. She says prices are expected to continue their slide as demand declines amid widespread stay-at-home orders during the coronavirus pandemic. The highest average price in the nation for regular-grade gas is $3.13 per gallon in Honolulu. The lowest average is $1.30 in Tulsa, Oklahoma. áThe average price of diesel is $2.62, down 7 cents.