Written by Gary
Boeing, Raytheon, Walgreens in lead as Dow turns positive by midday (SPY +0.05% flat). Electronics and appliances led gains, while bars and restaurants also were up.
Here is the current market situation from CNN Money | |
 | North and South American markets are broadly higher today with shares in Brazil leading the region. The Bovespa is up 1.02% while Mexico’s IPC is up 0.83% and U.S.’s S&P 500 is up 0.05%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| How a biotech CEO figured out Covid-19 surveillance testing for 50 companies with 12-hour turnaround timesAs testing turnaround times stretch to a week or more for some parts of the country, a group of 50 biotech companies has figured out a surveillance system with results in 12 hours. |
| Novavax shares rise after deal to provide 60 million doses of coronavirus vaccine to U.K.Novavax shares rose after the company said it reached a deal with the U.K. to supply 60 million doses of its potential coronavirus vaccine. |
| The U.S. has already invested billions in potential coronavirus vaccines. Here’s where the deals standThe U.S. has doled out billions to develop a vaccine against the coronavirus, locking in a minimum of 800 million doses so far. |
| Mall owner Simon, Authentic Brands to acquire denim retailer Lucky out of bankruptcy for $140.1 millionThe biggest U.S. mall owner Simon Property Group and apparel licensing firm Authentic Brands Group teamed up to buy denim maker Lucky Brand out of bankruptcy for $140.1 million. |
| Coronavirus live updates: NJ governor sees ‘legitimate reasons’ for schools to reopen remotelyThe coronavirus has infected more than 20.9 million people around the world as of Friday, killing at least 760,300 people. |
| California heat wave raises fire threat, virus spread fearsPalm Springs and other desert regions could approach 120 degrees (49C) and even cooler areas, such as coastal regions and portions of San Francisco, could reach 80 degrees (27C), the National Weather Service predicted. |
| The clothing rental start-up Rent the Runway is closing all of its stores for goodThe clothing subscription start-up Rent the Runway is planning to permanently close its five stores across the U.S., not reopening them after they were temporarily forced shut due to the Covid-19 crisis, the company told CNBC. |
| Trump calls Biden’s coronavirus plan unscientific, rejects call for national mask mandatePresident Donald Trump on Thursday rejected former Vice President Joe Biden’s call for a national mask mandate to combat the coronavirus. |
| Trump administration health official says some call Putin’s coronavirus vaccine ‘Russian roulette’“Some have called this Russian roulette,” NIH Director Dr. Francis Collins said. |
| Trump lifts Obama-era regulations on methane, a potent climate-warming gasTrump’s new rule on methane pollution could be swiftly reversed if former Vice President Joe Biden wins the November presidential election and Democrats win control of the Senate. |
| As The North Face battles Patagonia in outdoors market, it bets tackling climate change will pay offVF Corp.’s The North Face was slow to embrace sustainability as a brand, but it learned from competitors like Patagonia that climate change pays ” perhaps even more so in a post-Covid-19 world of outdoor activities. |
| Hot gambling stock DraftKings falls 6% after company reports larger loss than expectedDraftKings sank more than 6% on Friday after it said its loss for the second quarter widened despite stronger revenues. |
| “Equities Go Parabolic”: The Fed Has Put The Market Into A Positive Inflationary Feedback Loop“Equities Go Parabolic”: The Fed Has Put The Market Into A Positive Inflationary Feedback Loop Tyler Durden Fri, 08/14/2020 – 12:10 By Mark Orsley, head of macro strategy at PrismFP For the past week, we have discussed the emergence of inflation risks which stands to be a major regime shift for 2H. The rates complex has awoken (EDH4 +11bps, 30yr yields +20bps, 2s10s +13bps). The idea has been the handoff from financial asset reflation driven by Fed policies which caused a precipitous drop in real yields, over to a pure economic reflation driven by œpeak COVID into another round of fiscal stimulus. Fiscal no longer means just stabilization, it now means absolute economic stimulus. * * * The macro drivers of inflation have shifted aggressively in favor of reflation: Dollar has depreciated and is technically set for at least one more leg down DXY still has a 5th wave down coming in the next month or so ¦ |
| Ex-FBI Resistance Lawyer To Plead Guilty In Durham’s Trump-Russia ProbeEx-FBI Resistance Lawyer To Plead Guilty In Durham’s Trump-Russia Probe Tyler Durden Fri, 08/14/2020 – 11:59 Former FBI lawyer Kevin Clinesmith will plead guilty to one count of making a false statement regarding his involvement in the agency’s actions against the Trump campaign during the 2016 US election, according to the Associated Press. In November, the New York Times revealed that Clinesmith was under criminal investigation for allegedly doctoring materials used to obtain renewals of the Carter Page surveillance warrant. Clinesmith -who worked on both the Hillary Clinton email investigation and the Russia probe, was part of Special Counsel Robert Mueller’s team, and interviewed Trump campaign advisor George Papadopoulos. |
| UK Extends “Partial Lockdowns” In The Northwest; Canada Extends US Border Closure To Sept. 2021: Live UpdatesUK Extends “Partial Lockdowns” In The Northwest; Canada Extends US Border Closure To Sept. 2021: Live Updates Tyler Durden Fri, 08/14/2020 – 11:38 Summary: Dr. Fauci says “herd immunity” would lead to “unacceptable” death level Canada extends border lockdown Florida cases decline again New CDC forecast projects 200k deaths by labor day Spain bans smoking in crowds Global death toll tops 750k UK places travel restrictions on France & the Netherlands UK signs vaccine deal Paris and area around Marseille on “red alert” French new cases top 2k for the 4th time in a week New Zealand expands Auckland lockdown Mexico tops 500,000 cases Tokyo suffers 389 new cases South Korea confirms 103 new cases North Korea lifts lockdown around border region * * * Update (1113ET): Lockdown restrictions covering parts of northwestern England will remain in place, officials determined on Friday, as COVID cases remained stubbornly high. ‘Partial lockdown’ restrictions have been imposed on Leicester, Greater Manchester, parts of West Yorkshire and East Lancashire.
|
| Buchanan: Is Biden-Harris On Tom Dewey’s Path?Buchanan: Is Biden-Harris On Tom Dewey’s Path? Tyler Durden Fri, 08/14/2020 – 11:35 Authored by Patrick Buchanan via Buchanan.org, Accused of being a serial harasser in 2019, Joe Biden did what comes naturally. He apologized for perceived past misbehavior, and, to appease his accusers, pledged to choose a woman for a Biden ticket. Reacting to the racial rage that erupted after the death of George Floyd under the knee of a white Minneapolis cop, Biden reacted again. He put out word he would be looking closely for a Black woman to run with. |
| Coronavirus: Yo! Sushi to shut restaurants and cut 250 jobsThe company, known for its conveyor belt service, has launched a company voluntary arrangement. |
| Ex-pizza delivery boy’s gym firm worth over £1bnBen Francis, the founder of sportswear company Gymshark, is now worth an estimated £700m. |
| Just Eat to stop using gig economy workersBoss Jitse Groen says he would rather have staff who get benefits and more workplace protection. |
| I-Day Speech: Prez pitches for self-relianceI-Day Speech: Prez pitches for self-relianceThis year’s I-Day celebrations will be restrained as deadly virus has disrupted all activities, taken huge toll, said President Ram Nath Kovind. |
| We expect China to sincerely work with us: MEAWe expect China to sincerely work with us: MEAExternal Affairs Ministry Spokesperson Anurag Srivastava said full restoration of peace and tranquility in the border areas as agreed to by the two sides is essential in the context of overall development of the bilateral relationship. |
| New VC fund Lumikai to seed Indian gamingNew VC fund Lumikai to seed Indian gamingFirst dedicated capital pool for India sees global media and tech companies log in as investors, aims to deploy $2 lakh – $2 million across 20 early stage companies |
| 07 August 2020 ECRI’s WLI Improvement Continues But Remains In Contraction
ECRI’s WLI Growth Index which forecasts economic growth six months forward improved but remains in contraction. |
| When will I get my extra $300 a week in unemployment benefits? Why isn’t everyone out of work eligible under Trump’s proposal?Trump signed an executive order calling for an extra $300 a week in unemployment benefits ” but it’s best to read the small print. |
| The Conversation: Cheap and fast screening tests could be a game-changer in fighting COVID-19 pandemicScreening tests with even moderate levels of accuracy can slow the spread of the coronavirus and help schools and workplaces reopen. |
| Beauty salons, bowling alleys and music venues reopen this weekend, as U.K. government doubles mask finesFines will double to a maximum of £3,200 for those who œrepeatedly flout face-covering rules. |
Written by Steven HansenEarnings Summary for Today
leading Stock Positions
Current Commodity Prices
Commodities are powered by Investing.com
Current Currency Crosses
The Forex Quotes are powered by Investing.com.
To contact me with questions, comments or constructive criticism is always encouraged and appreciated:
