Home quarantine setup supports global stocks, bonds decline
Shares of Netflix and Amazon.com had supported the world stock market on Thursday. Hefty gains were monitored as investors anticipated large earnings posed by the stay-at-home setup. However, yields faltered as negative U.S. jobs data indicated a surge in unemployment.
Amazon (AMZN.O) and Netflix (NFLX.) greatly advanced as the current home quarantine mandate increased the demand for online streaming and home delivery services.
Morgan Stanley recorded a 32% setback in its quarterly session while its shares dropped 0.3%
Chief Executive James Gorman of Morgan Stanley (MS.N) warned shareholders that the bank is likely to miss its medium-term financial targets again this quarter, as lockdown restrictions continue to disrupt the global economy and U.S. markets.
Equities market operated under a turbulent mood as poor U.S. jobs data showed a sharp recession. The weak report had made investors doubt that the economy will soon recover. In addition to this, millions of Americans demanded unemployment benefits as signals show a sharper economic downturn.