FT News Briefing US stocks surge despite gloomy forecast, US police reform bill, oil industry’s cautious optimism
Jun 9, 2020
The US stock market has made a surprising recovery, erasing all its pandemic losses. Meanwhile, the World Bank warns that emerging economies might face their first shrinkage in decades. In response to ongoing protests against police brutality, Congressional Democrats have proposed sweeping police reform measures. Finally, experts discuss a cautious optimism in the oil industry, highlighting recent production cut decisions by OPEC and the strategic job reductions at BP.
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Stock Market vs. Real Economy
- The U.S. stock market rebounded by over 40% since mid-March, erasing 2020 losses.
- This market recovery contrasts with a struggling global economy and emerging markets facing recession.
Police Reform Bill
- Democrats proposed the Justice in Policing Act of 2020, aiming to reform police practices.
- Republicans oppose the bill, highlighting the divide over addressing police brutality.
Breonna Taylor Case
- Breonna Taylor, a 26-year-old EMT, was shot dead in her apartment in March.
- This incident, involving a no-knock warrant, fuels the ongoing protests against police brutality.