Asian shares rallied for a fourth straight session on Thursday as US markets swung sharply higher and another dose of central bank stimulus offered some salve for the global economic outlook.Wall Street seemed to find relief in the strong performance of former Vice President Biden in the Democratic nomination campaign. Biden is considered less likely to raise taxes and impose new regulations than rival Bernie Sanders.The US House of Representatives also approved an US$8.3 billion funding bill to combat the spread of the virus, sending the emergency legislation to the Senate. E-Mini futures for the S&P 500 dipped 0.6 percent after its overnight jump, but EUROSTOXXX 50 futures rose 0.6 percent and FTSE futures 0.4 percent.The upbeat sentiment comes despite the coronavirus crisis showing no signs of slowing, with mounting deaths globally, Italy closing all of its schools and California declaring a state of emergency as cases there grow.“There is little doubt that the COVID-19 outbreak will slow global growth considerably this quarter, and we expect it to actually produce a rare non-recessionary contraction in GDP,” said JPMorgan economist Joseph Lupton.Read also: Coronavirus puts ‘fragile’ global recovery at risk: IMF to G20He noted the bank’s all-industry PMI measure of activity for February slumped 6.1 points, the largest one-month drop on record, and at 46.1 was at the lowest since May 2009.The Federal Reserve and Bank of Canada had both responded by cutting interest rates by 50 basis points, and markets in the euro zone are pricing in a 90 percent chance that the ECB will cut its deposit rate, now minus 0.5 percent, by 10 basis points next week.Yet, as policymakers grapple with the best strategy to avoid a global recession, some major central bank have been less keen to follow suit.In the end, monetary policy was not a cure for the disease and the impact was likely to get worse before it got better.“As we test more folks for COVID-19 in the United States, the case loads will rise and perhaps exponentially. So in the short-term, risk assets obviously remain beholden to Covid-19 headlines,” Tom Porcelli, chief US economist at RBC Capital Markets.“We have to get past the threshold where COVID-19 shifts from panic to headline exhaustion and subsequent news on it becomes more and more of a fade,” he added. “Then risk assets can move higher in earnest.”Healthy, for nowAt least the US economy was in healthy shape to face the risks, with services sector activity jumping to a one-year high in February, while private payrolls gained 183,000.The better data combined with the rally in stocks to nudge 10-year Treasury yields up from all-time lows under 1 percent to stand at 1.02 percent. Yields had fallen for 10 straight days, the longest slide in at least a generation.That move gave the dollar a slight lift, with the euro dipping back to $1.1140 from a two-month high of $1.1212 hit earlier in the week.The dollar stood at 107.34 yen, from a five-month trough of 106.84, while the dollar index held steady at 97.333 =USD.Gold steadied after jumping in the wake of the Fed’s rate cut, and was last at $1,638.97 per ounce.Oil prices rebounded by more than 1 percent on a smaller-than-expected rise in crude oil inventories in the United States.Brent crude futures firmed 68 cents to $51.81 a barrel, while US crude added 59 cents to $47.37.Topics : Read also: World Bank unveils $12b aid package to combat coronavirus In another wild swing, the Dow surged 4.53 percent, while the S&P 500 gained 4.22 percent and the Nasdaq 3.85 percent.Asian markets followed, if more cautiously. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.7 percent, in its fourth day of gains.Japan’s Nikkei rose 0.9 percent and hard-hit Australian shares finally managed a bounce of 1.1 percent. Shanghai blue chips put on 1.3 percent.
Switzerland County, In. — The Switzerland County Sheriff’s Department is searching for Brittany Hammond. The 30-year0old woman has not been in contact with anyone since December 12 or 13.Any information can be left confidentially by calling 812-427-3636.
The winner of the maiden Motorsport Auto Fiesta Championship will get N1million, organisers of the event have announced.Motorsport Auto Fiesta Championship will take place on October 6 at the Tafawa Balewa Square in Lagos.The event aimed at diversifying sports in the country and will also put Nigeria on the global map, the Chief Executive officer of FAME, Charles Farimoyo stated. Farimoyo told a media conference ahead of Sunday’s event that they hope to make the event which the Federation International Automobile are partners, a national event that will be staged annually across the country.“There is just another element of sport which is the richest. The Formula 1 is just part of it,” Farimoyo said.“However, we want to make Nigeria a prominent country in Motorsport and entertainment.“This year’s event features the Goal card championship, Motor bikes championship and cars.”“One of the aims of introducing Motorsport auto fiesta to the country is for development and to boost economic and tourism potentials.“The benefits of a Motorsport auto fiesta in Lagos outweigh what we are expected to spend on the staging of that motor racing competition. It is expected that at least jobs, both skilled and unskilled, would be created.”Farimoyo also added that winners in various categories will take home between N250,000 and N1million respectively.The event starts from 12noon on Sunday while registration and enquiries will be this Friday at the TBS Arcade.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram
After a tiring but successful 10-day road trip that saw the Wisconsin softball team play 11 games, the Badgers took a couple well-deserved days off early this week before gearing up to face Northwestern in the Big Ten opener next weekend.After opening the trip with losses to nationally ranked Stanford and BYU as well as to Pacific, the Badgers won six of the last seven games, including their final five. Keying the win streak was sound defensive play by the Badger infield. Head coach Chandelle Schulte made particular mention of junior Athena Vasquez as the main catalyst of the improved defensive effort. “Third base had been a position where we were having some problems with errors,” Schulte explained. “We moved [Vasquez] to third base and got very good defense out of her, which was a huge help.”The improved defense has done more than simply lower the number in the error column of the box score. Schulte credits the defense with helping the overall performance of her pitchers.”When the defense behind a pitcher is not making errors, it gives the pitcher a lot more confidence,” Schulte said.Schulte also mentioned that after an early season, which saw the Badgers use 11 different starting lineups, the coaching staff has settled on a lineup that it likes and that has produced results.”Everyone has been contributing, but you never know who is going to come through each day,” Schulte said. “Every day it is someone different who helps carry the team, which is good. I like it better than relying on one player to come through every game.” The Badgers were afforded the chance to play both Utah State and Miami (Ohio) multiple times during the trip, giving the team a taste of what Big Ten action will be like. During conference play, teams play each other in two-game series.”The second time playing those teams, we played much better, and the players gained a ton of confidence,” Schulte noted.While the benefits of playing so many games cannot be overstated for such a young and inexperienced team, there are some minor drawbacks to all the play.”After all that game action, we really physically and mentally needed some time off,” Schulte said. “We have some minor injuries, but mostly just sore muscles from overuse that will be better with some time off.”Besides the game experience and confidence the Badgers gained during the trip, this particular Badger team has something Schulte sees as equally important.”In my 12 years coaching, this team has the best chemistry by far. Off the field, the kids really enjoy each other. We learned a lot about each other during the trip, which will help us work through any tough stretches in the season.”Having found such chemistry and riding a five-game win streak, tough stretches seem like something this Badger team won’t have to worry about for a long time.