DAILY MARKET REPORT

DAILY MARKET REPORT

The Facebook stock surged to a new all-time high of $230.75 on Wednesday after the company launches a new feature called Shops, a virtual mall designed to help businesses suffering during COVID-19. “This is the biggest step we have taken yet to enable commerce across our apps,” Facebook CEO Mark Zuckerberg said. 
DAILY MARKET REPORT

DAILY MARKET REPORT

On Monday, FedEx (FDX) and Microsoft (MSFT) announced a multi-year collaboration that will combine FedEx’s logistics capabilities with Microsoft’s cloud technology. The shares of FedEx jumped 10.85% on Monday after the announcement. 
DAILY MARKET REPORT

DAILY MARKET REPORT

Moderna, Inc. (NASDAQ: MRNA), an American biotechnology company, working on developing a vaccine, announced on Monday that the early results from the vaccine were promising from its first human trial. The company said it is launching a large clinical trial in July to determine whether the vaccine works.
DAILY MARKET REPORT

DAILY MARKET REPORT

After seven weeks of lockdown UK gradually lifts lockdown & returns to work. As of Wednesday, the UK recorded 33,186 deaths from COVID-19. Recently a new antibody test has been approved in the UK – the government expects this could be the key to easing the complete lockdown. On Wednesday, the UK government announced 600 million pounds ($735 million) in funding to stop coronavirus infections in nursing homes.
DAILY MARKET REPORT

DAILY MARKET REPORT

UK economy contracted its biggest fall since the 2008 financial crisis in the January-March period, with March GDP falling by a record pace due to the coronavirus pandemic. The GDP dropped 5.8% in March, the biggest monthly fall since the series began in 1997. While quarterly GDP beat projections, falling by 2% instead of the expected contraction of 2.5%.