12.03.2020 MSFT and Amazon Daily Analysis

12.03.2020 MSFT and Amazon Daily Analysis

MSFT is currently trading at $144.96 today, it has gone down by up to 5.96% this week. Yesterday President Donald Trump announced a travel ban on all European countries excluding the UK and US citizens returning to the US as a measure to protect US citizens from possibly more exposure to coronavirus. The US stock market and USD have continued to go down as this announcement left investors feeling like the measures the US is taking are not enough to shield the financial market from further losses and that President Trump cannot make any decisions about the economy without permission from the congress. Investors have been panic selling due to fears of the coronavirus pandemic worsening and causing a worldwide recession. On Wednesday, the White House met with big tech companies to discuss measures to ease the impact of coronavirus. In attendance via teleconference were AAPL, MSFT, AMZN, CSCO, FB, GOOGL, and IBM. They discussed the planned release of a new database of full-text coronavirus-related scholarly literature and urged tech firms to use tools like artificial intelligence, to help medical researchers gather scientific insights from this collection of articles, they also discussed increased coordination to improve information sharing and how to identify the best practices to root out misinformation. Amazon shares have decreased drastically earlier today by 5.07% leaving the price per share at $1,784.23 due to various reasons such as the on-going coronavirus outbreak and the suspension of travels from Europe to the U.S, also due to Amazon continuing to further pay employees for their sick leave which expanded to more states. Amazon.com will provide paid sick leave for its warehouse workers and other hourly employees affected by the spread of the novel coronavirus. The shocking news was from Long-time Amazon executive Maria Renz who decided to leave the e-commerce giant after more than 20 years at the company to join online lender Social Finance, according to people familiar with the matter. But investors are still looking forward to a comeback from the tech giant after issuing a statement that they will launch $5 million reliefs for small Seattle Business.