Stock Market Just Closed its Best Week Since 1974 - But Don't Celebrate Yet
- Treasury Secretary Steven Mnuchin told CNBC on Thursday that the U.S. economy could open for business in May. The Labor Department reported Thursday that weekly jobless claims have soared for the third consecutive week, reaching 6.6 million for the period ended April 4.
- Nearly 17 million unemployment insurance claims in three weeks are unprecedented, as the coronavirus epidemic hit the U.S. economy badly.
- The S&P 500 is only down 14% year-to-date, which means stocks might just be in a bear-market rally.
- The stock market might not have hit bottom, as there is still uncertainty regarding how the coronavirus will impact the economy in the coming weeks and months.
- He has warned that the United States is heading for a Great Depression if the economy is not revived next month due to the damage caused by coronavirus.
More Proof the PlayStation 5 Will Get a Brand New VR Headset
- There's every reason to believe Sony will produce a VR follow-up with the PlayStation 5.
- And there’s no way Sony won’t produce a follow up with the PlayStation 5 (PS5).
- PSVR is the best-selling virtual reality headset out there.
- But there’s a reason PSVR is so cheap: It features inferior hardware.
- The device only offers a 1920×1080 resolution, split between two eyes, with a 120 Hz refresh rate.
- Resolution, alongside refresh rate, is one of the most important aspects of a quality VR experience.
- But relatively weak tech didn’t stop Sony from selling 5 million headsets.
- If VR is going to continue beyond the next year or two, they need to update their hardware.
- He predicts that this new headset probably won’t be released alongside the PlayStation 5.
- Plus, with virtual reality access growing, Sony would be stupid not to improve their initial technology.
NHS Coronavirus Gag Orders Are Disgustingly Orwellian
- NHS workers are putting their lives on the line every single day.
- Coronavirus is putting a severe strain on medical supplies and available hospital beds, and Brits are voicing their support for the NHS like never before.
- The very healthcare workers who are putting their lives on the line are being gagged by the NHS.
- Government bureaucrats are threatening healthcare workers with disciplinary action – and even sending them home – for speaking publicly about the fight with COVID-19.
- But a blanket ban on NHS workers speaking about conditions in coronavirus wards is just appalling.
- Sending any healthcare worker home right now is just frankly unacceptable.
- In a time when many people are holing up in their homes, these courageous workers are going out and working ridiculously long hours in dangerous conditions.
Desperate Fed May Go Further After Bank of England's Radical Step
- The Federal Reserve may need to provide funds directly to the U.S. government as central banks ramp up spending to tackle coronavirus.
- Huge demands on U.K. government coffers have seen the Bank of England become the first to directly finance state spending.
- The Ways and Means Facility – a government bank account at the central bank – will help fund the extraordinary demand on schemes like the U.K.’s job retention program.
- The facility allows the U.K. government to bypass the bond market and secure funding more quickly from the central bank.
- It will be needed to fund the rapidly rising number of claims for coronavirus-related government support.
- The Fed don’t need to do [monetary financing] implicitly as the dollar is the world’s reserve currency and at moment there is little likelihood that the Treasury market will be impacted by an increase in supply.
Here's Why the Dow Jones Careened Off Its Session Highs Today
- The Dow Jones dove off its highs as excitement from the Federal Reserve's bond-buying spree faded and Mexico held up OPEC's oil supply cut.
- The Dow Jones rallied on Thursday, although a sudden decline in the oil price knocked the stock market well off its highs as OPEC negotiated potential supply cuts.
- Adding fuel to the rally was the announcement that the Federal Reserve will dive into high-yield debt markets to support the flailing economy.
- The Dow Jones rally weathered these brutal data thanks to a surprise announcement from the Federal Reserve, which plans to up the ante in its dramatic effort to prevent a financial market collapse.
- Looking ahead to next week, Dow members JPMorgan Chase, Johnson & Johnson, Goldman Sachs, and United Healthcare will all be posting earnings.
Is Nintendo Fixing One of Its Biggest Animal Crossing: New Horizons Mistakes?
- Nintendo might be fixing one of Animal Crossing: New Horizons' biggest mistakes.
- Animal Crossing: New Horizons has been out for nearly three weeks, but it’s still remarkably mysterious in a number of ways.
- Is Nintendo teasing the return of the coffee shop, along with is proprietor, Brewster?
- This looks like a pretty massive hint that Nintendo is going to include him in a future update or DLC package.
- Alongside Brewster, characters referred directly to The Roost – which does not currently feature in the game.
- Seems like pretty strong evidence that the pigeon and his coffee shop are coming back soon.
- Isabelle also hints at the possibility of more shops being available in New Horizons soon.
- It seems that Animal Crossing: New Horizons is a game with a lot to give.
PS5 Controller Earns Gushing Praise from Doom Eternal Publisher
- Bethesda's Pete Hines offered some stunning praise for the PS5's DualSense - it will make you immediately forget the DualShock 4.
- According to none other than Bethesda’s very own Pete Hines, the PlayStation 5’s freshly-unveiled DualSense controller will make you forget the DualShock 4.
- As everyone and their uncle reacted to Sony’s surprise announcement and the hyper-modern design of the DualSense, the Bethesda man weighed in on Twitter with his two cents.
- I’ve gotten to try the haptic feedback and adaptive triggers on this thing and was very impressed.
- The haptic feedback – which promises a more immersive tactile feel to games – and the tension-mimicking adaptive triggers align with Sony’s plan for a significant generational leap.
- When asked how it compared to the PlayStation 4’s DualShock 4 controller – in particular, if the DualSense felt different – Hines delivered a far bolder verdict.
Stephen Colbert Is Obsessed with the Trump Briefings 'No One Cares About'
- The Late Show continues to run with a tired routine where Stephen Colbert pretends he's not obsessed with President Trump.
- Another episode of The Late Show brought another outburst from host Stephen Colbert about President Donald Trump.
- The truth is, talking heads like Stephen Colbert base their entire routine around what President Trump does and says.
- I also understand that there’s a sizeable audience for cheap laughs at the expense of President Trump.
- Initially, your routine angered Trump supporters.
- Trump doesn’t understand that no one cares about these hissy fits anymore.
- It’s supremely ironic because the exact same thing can be said about Stephen Colbert.
- That’s why, no matter how annoyed and fed up he pretends to be about President Trump, he’ll never ignore him.
- Without Trump, Stephen Colbert as we know him would cease to exist.
Trump's Impossible Island is Now Coronavirus-Free
- It was eight months ago when President Donald Trump was reportedly considering purchasing the world’s largest island, Greenland.
- While Greenland has obvious advantages over the U.S. in combating epidemic, the stringent measures it took before and immediately after the first COVID-19 case ensured fewer infections and consequently better outcomes.
- Containing the pandemic in Greenland was made relatively easy by the fact that all the 11 confirmed cases were in the capital, Nuuk.
- Immediately after the first coronavirus case was confirmed, Greenland’s capital was closed off to the rest of the island.
- The stringent measures were motivated by fears that, if left unchecked, coronavirus would have outrun Greenland’s resource-constrained heath care system.
- Greenland cannot completely rule out the novel coronavirus finding its way back into the island though.
- But having quashed the novel coronavirus, the Arctic island can serve as the world’s source of hope for now.
Valorant Is Waging a Righteous Crusade Against Beta Drop Factories
- Riot Games has issued a stark warning to Valorant closed beta account sellers as the game continues to draw in over a million Twitch viewers.
- With no sign of the demand for Valorant beta access waning, Riot Games has issued a stark warning to those gaming the system for profit or to jump the queue.
- If you buy an account for VALORANT access, please be aware that your account could be banned before launch!
- We’ve banned a pile of VALORANT closed beta account sellers and botters to free up more entitlements.
- As CCN.com reported on Tuesday, people are mining beta access drops on Twitch through alternative accounts and then selling them on eBay. We uncovered accounts priced upwards of $150 in some cases.
- As such, expect Valorant to dominate Twitch for the time being as viewers continue to hunt for those coveted and elusive drops.