Stock futures cling to hopes of recovery as virus cases rise
FILE PHOTO: Traders exit the 11 Wall St. door of the New York Stock Exchange in New York City, New York, U.S., June 11, 2020. REUTERS/Brendan McDermid
American Airlines Group Inc fell 6% as it planned to secure $3.5 billion in new financing by selling shares and convertible senior notes to boost liquidity. In the past week, several U.S. states, mainly in the West and South, have reported a surge in cases, with Apple Inc’s move to temporarily shut some U.S. stores again on Friday underscoring concerns of a delay in the recovery.
U.S.-based meat processor Tyson Inc slipped 2.7% as China’s customs authority suspended imports of poultry products from a plant owned by the company that had been hit by the coronavirus.
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