How Wall Street CEOs Reacted to George Floyd’s Death, Biblical Trump & Tech Stumbles – Financial News & Insights Summary for Tuesday June 2, 2020

Stocks were up again on Tuesday, as the lockdown restrictions begin to ease around the country, bringing optimism about the fate of the economy. The Dow Jones gained 1%, while the S&P 500 increased by 0.8%. The NASDAQ rose by 0.59%. In November 2019, LVMH agreed to purchase Tiffany, the jewelry retailer, for $16.2 billion. Due to recent events and the collapse of the economy, the deal between LVMH and Tiffany now seems uncertain to go through. Tiffany’s shares fell 9% Tuesday amid the news. READ MORE: https://callputstrike.com/2020/06/02/biblical-trump-tech-stumbles-financial-news-insights-summary-for-tuesday-june-2-2020/ On May 25, 2020, a black man named George Floyd was being arrested by a white police officer. The officer kneeled on George’s neck for eight minutes, causing his death by asphyxiation the most current coroner reports allege. Wall Street CEOs took to social media to express their feelings regarding the situation. Brian Moynihan – Bank of America Brian Moynihan The Bank of America has announced that it will be donating $1 billion to support the effort of reducing racism and income inequalities. These issues have been accelerated during the coronavirus pandemic, and the Bank of America is determined to help fight against them. Said Brian Moynihan, CEO of Bank of America: “The events of the past week have created a sense of true urgency that has arisen across our nation, particularly in view of the racial injustices we have seen in the communities where we work and live. We all need to do more.” David Solomon – Goldman Sachs The CEO of Goldman Sachs, David Solomon, spoke to employees of the bank directly. He wanted them to know that he was paying attention and horrified by the recent events that have taken place. He said in a voicemail to the staff: “I am horrified by continued attacks against the black community, highlighted most recently in the U.S. with the deaths of Ahmaud Arbery and George Floyd, and with what Christian Cooper experienced in Central Park in New York City this past Monday. […] So I am asking all of you—even with everything you are going through and everything you are doing—to ‘look up’ and acknowledge what is happening around us. I want you to check in with each other, and be willing to have conversations that may take us outside of our comfort zone.” Mark Mason – Citigroup Mark Mason The CFO of Citigroup, Mark Mason, is one of the few African American executives on Wall Street. He posted about the events on the company’s website: “Even though I’m the CFO of a global bank, the killings of George Floyd in Minnesota, Ahmaud Arbery in Georgia and Breonna Taylor in Kentucky are reminders of the dangers Black Americans like me face in living our daily lives. […] Racism continues to be at the root of so much pain and ugliness in our society—from the streets of Minneapolis to the disparities inflicted by COVID-19 … These systemic problems will not go away until we confront them head-on.” READ MORE: https://callputstrike.com/2020/06/02/how-wall-street-ceos-reacted-to-george-floyds-death/