Labor market data incomplete
On the economic data side, the published job report from the employment service provider ADP little information about the economic consequences of the Corona virus give. A total of 27,000 jobs were lost in the US private sector in March. Analysts had previously expected a significantly higher cut of 150,000 jobs. Loud ADP however, only data up to March 12 were used.
The stocks, which had been heavily burdened by the virus crisis for weeks, remained the same below the individual values: After a recent stabilization, papers by airlines and cruise providers suffered their next price slump. This was particularly evident in Carnival and Delta Air Lines with price losses in the considerable size range of 33 and 16.4 percent.
Banks under pressure
At the Wall Street Financial stocks also came under pressure because investors are increasingly worried about loan defaults. According to experts from BCA Research, US companies are currently drawing on credit lines on a large scale, which can be seen as an indication of financial constraints. The shares of Goldman Sachs and JPMorgan belonged in Dow with discounts of 6.1 and 6.6 percent among the big losers.
T-Mobile with Sprint, Xerox without HP
After about two years, the merger of the two telecommunications groups T-Mobile US (plus 1.5 percent) and Sprint (shares not traded) are now in a dry blanket, as the two companies announced. Together, the two groups claim to have 140 million customers and a market value of around $ 110 billion.
Another planned takeover should turn out to be nothing. Like the US group Xerox announced, it blows the intended takeover of the competitor HP Inc. due to the corona virus crisis. The news was less well received by investors – Xerox stocks lost 6.8 percent and HP papers fell 14.5 percent.
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