· CORONAVIRUS CRISIS:
Ø Total confirmed cases: More than 2,556,512
Ø Total deaths: At least 177,608
Ø The coronavirus COVID-19 is affecting 210 countries and territories around the world and 2international conveyances: the Diamond Princess cruise ship harbored inYokohama, Japan, and the Holland America's MS Zaandam cruise ship.
Ø US cases: At least 818,744 and deaths: 45,318
Ø Spain cases: At least 204,178 and deaths: 21,282
Ø Italy cases: At least 183,957 and deaths: 24,648
Ø Thailand cases: At least 2,811 and deaths: 48
· U.S. Senate approves nearly $500 billion more for coronavirus bailout
The U.S. Senate on Tuesday unanimously approved $484 billion in additional coronavirus relief for the U.S. economy and hospitals treating people sickened by the pandemic, sending the measure to the House of Representatives for final passage later this week.
The bill, approved by the Senate on a voice vote in a near-empty chamber, was hurried along shortly after congressional leaders and the White House brokered an agreement.
The House is expected to vote on Thursday on what would be the fourth coronavirus-response law. Taken together, the four measures amount to about $3 trillion in aid since last month to confront a crisis that has killed more than 43,000 Americans.
President Donald Trump urged Congress to give quick approval to the measure, which mainly expands funding for loans to small businesses hobbled by the pandemic, leaving additional aid to state and local governments for a later bill.
Previously, Washington provided nearly $350 billion in loans to small businesses impacted by the coronavirus that can turn into grants if certain requirements are met. That funding was quickly exhausted.
· Trump immigration ban to last 60 days, target those seeking permanent residency
President Donald Trump said on Tuesday his new U.S. immigration ban would last for 60 days and apply to those seeking “green cards” for permanent residency in an effort to protect Americans seeking to regain jobs lost because of the coronavirus.
· Singapore extends ‘circuit breaker’ partial lockdown measures until June 1
Singapore’s Prime Minister Lee Hsien Loong said on Tuesday that partial lockdown measures to stem the spread of the coronavirus in the country will be extended by four weeks to June 1.
Some of those measures, which the Singapore leader calls a “circuit breaker,” involve shutting schools and most workplaces temporarily. Those measures, which were implemented two weeks ago, were initially supposed to end on May 4.
· Dollar surges across board, oil-linked currencies fall
The U.S. dollar rose on Tuesday against most major currencies as investors sought a safe haven after a plunge in oil prices a day earlier.
U.S. crude oil futures plunged into negative territory for the first time on Monday, dragged by a supply glut and sagging demand due to the novel coronavirus pandemic though they managed to scrape back into positive territory early Tuesday.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 100.199 after seeing levels below 99.5 last week.
The euro was last down 0.3% at $1.0833.
Against the ultimate safe-haven currency - the Japanese yen - the dollar was last trading down 0.2% at 107.40.
“Oil is off its lows, but a lot of companies are going to get hit and companies could start to fail,” said Shane Oliver, head of investment strategy and chief economist at AMP Capital Investors in Sydney.
“If share prices have a pullback, the dollar could see some gains as a safe haven. The only thing that’s capping the dollar is that the Federal Reserve has done more quantitative easing than anyone else.”
· North Korean leader Kim Jong Un recently had surgery, could be incapacitated, US officials say
U.S. intelligence indicates that North Korean dictator Kim Jong Un recently had cardiovascular surgery, NBC News reported Tuesday, citing American officials.
The intelligence also suggests that Kim could be incapacitated, NBC added, citing some of those officials.
The update came after the South Korean currency, the won, took a hit following an unconfirmed report that Kim was seriously ill. Kim has been out of public view for several days, according to officials cited by NBC.
· Brent oil futures plunge as growing glut feeds market panic
Brent oil futures prices plunged again on Tuesday, extending oil market panic into a second day with no end in sight to a swelling global crude glut as the coronavirus pandemic has obliterated demand for fuel.
Monday and Tuesday have been two of the most turbulent days in the history of oil trading, as investors confronted the reality that worldwide supply will overwhelm demand for months or years and current production cuts to offset that glut are nowhere near sufficient.
Brent futures LCOc1 for June delivery settled down 24% to $19.33 a barrel, their lowest since February 2002. U.S. West Texas Intermediate (WTI) crude CLc2 for June, the front-month contract as of Wednesday, fell $8.86, or 43%, to settle at $11.57.
The U.S. May contract CLK0CLc1, which expired on Tuesday, rebounded from its deep dive into negative territory, rising to $10.01 from the previous day’s settlement at minus $37.63.
Reference: CNBC, Reuters
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