The two days FOMC meeting that began Tuesday, and concludes with a statement and a press conference due later today. The Fed is widely expected to leave interest rates unchanged. The investors and traders will closely watch the updates from the U.S. Federal Reserve for clues on how long the interest rates could remain at the present low levels. The central bank scheduled to issue its policy statement at 18.00 GMT.
Countries around the world planning to reopen businesses and get their economies back on track. Spain plans to start easing restrictions on Sunday and Italy on May 4. France will announce its plans next month. New York may start reopening manufacturing and construction after May 15, Governor Andrew Cuomo said.
Intel (NASDAQ: INTC) released a strong first quarter 2020 results on Thursday. The chipmaker reported net income of $5.7 billion, up 42 percent from a year ago, on revenue of $19.8 billion, up 23 percent from the same period. The Intel stock dropped more than 5% in after-hours trading after the company predicted that profit would come in lower than projections in the second quarter.
The Eurozone economy and the UK suffered the record falls in business activity due to the coronavirus outbreak and measures to contain it, a survey showed on Thursday.
Countries like Spain, Singapore and Ukraine will extend its nationwide lockdown for another few weeks. Spain’s death toll from the virus climbed by 435 in the past 24 hours and Ukraine reported 174 deaths on Tuesday.