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Coronavirus Impact ; Dow Jones Plunges over 3% in Friday Morning Trade

Covid-19 Fears Recalling 2008 Economic Crash

The Dow Jones Industrial Average plummeted more than 900 points on Friday, as financial markets continue to plummet on uncertainty over the spread of the novel coronavirus. Concerns about the spread of the disease and a global financial slowdown are driving deep dips in the stock market. The Dow suffered its worst week since the financial crash of 2008.

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USA

Survey Claims 38% Americans wouldn’t buy Corona Beer due to Covid-19 Fear

Similarity of Name may hit Corona Business

One of the World’s most popular beer brand ‘Corona Beer‘ burnt of Novel Coronavirus Covid-19 attack. 5W Public Relations said that 38% of Americans wouldn’t buy Corona “under any circumstances” because of the outbreak, and another 14% said they wouldn’t order a Corona in public. The survey encompasses polling from 737 beer drinkers in the United States.

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Finance

Illinois Tool Works (ITW) Q4 Earnings (EPS) $1.99 VS Expected $1.85

ITW Q4 Earnings Released Today

Illinois Tool Work Inc. (NYSE-ITW) is an American Fortune 500 company that produces engineering fasteners and components, equipment and consumable systems and specificity products. The Company released Quarter (Q4) earnings report and full year balance sheet with EPS report for last quarter ended on December 31, 2019.

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Finance

Provident Financial Services Fourth Quarter Earnings Report ; Announces Cash Dividend

Provident Financial Services

Banking Services Provider company Provident Financial Service , Inc. (PFS-NYSE) ; which preferably checking accounts , home equity loans, credit cards, investment, telephone banking ,bills payment and merchant banking services, released fourth quarter final year earnings report today. The company reported net income of $26 Million, or $0.40 per basic and diluted share for the quarter ended December 31, 2019 ; compared to net income of $35.8 Million or $0.55 per basic and diluted share for the quarter ended December 31,2018.

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USA

Toll Brothers is The World’s No-1 Home Builder Company by Fortune Magazine 2020

Toll Brothers : No #1 in 6th Consecutive Years

Prestigious Fortune Magazine 2020 edition selects Toll Brothers (NYSE : TOL) as World’s Number one (#1) Home Builder Company. This 6th consecutive years US leading builder of luxury homes has been named in the Fortune Magazine Survey as the World’s most admired Home Builder Company.

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World News

Hong Kong Jobless Data Released ; Marginally Increased in December

Hong Kong Jobless Data : Forex Trading Impact

Finally Census and Statistics department of Hon Kong released October to December job data. It showing that Hong Kong’s jobless rate rose slightly. In statistics, the jobless rate rose to 3.3 percent during the 3 months duration from October to December period from earlier quarter which reported 3.2 percent . This was in-line job statistics with well economic expectation.

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USA

US-China Trade Deal Phase 1 : How US Farmers Are Reacting and Chinese Responses

US-China Trade Deal : Facts Finder

Washington , Online Desk : Finally the most awaited US-China Trade Deal (Phase 1) signed today. US President Donald Trump and Chinese Vice-Premier Liu He signed “Phase One’ trade agreement at White House. Donald Trump stated the deal as a “Momentous‘ and ‘landmark‘ accord. However, the critics said , the trade deal benefits were relatively minor and left many difficult structural issues unresolved.  (more…)

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Cryptocoin

Bitcoin Price Drops Nearly 1000 Points in Last Hour Crypto Trading

Major Crypto ‘Bitcoin‘ fell nearly $3000 within a day . And in last hour of trading ‘Bitcoin’ price sharply crash more than $1000 from the range of $11.900. Currently Bitcoin trading at $10,879 . After the Coinbase shut down news (a San Francisco based platform which is among the most popular of Cryptocurrency exchanges) , Bitcoin price slash from its mid-term highest range.

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