Written by Gary
US stock markets began in the green, but now crisscross’ the unchanged line (SPY -0.4%). US economy recovering faster than expected, WSJ survey finds. Markets in volatile trading as Apple and tech struggle.
Here is the current market situation from CNN Money | |
 | North and South American markets are mixed. The Bovespa is higher by 0.75%, while the IPC is leading the S&P 500 lower. They are down 0.25% and 0.24% respectively. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| Deadly wildfires worsen across California, Oregon and WashingtonWildfires fueled by extreme heat and high wind spread further across California, Oregon and Washington, destroying hundreds of homes and killing at least seven people. |
| China bars media coverage of Disney’s ‘Mulan’ after Xinjiang backlashNo reason was given, but sources told Reuters they believed it was because of the overseas backlash over the film’s links to Xinjiang. |
| Op-ed: The coronavirus pandemic underscores the need to bring drug manufacturing back to U.S.Dr. Stephen M. Hahn is the commissioner of the Food and Drug Administration and Dr. Anand Shah is deputy commissioner for medical & scientific affairs at the FDA. |
| Discount retailer Century 21 files for Chapter 11 bankruptcy and is closing all of its 13 storesThe discount department store chain Century 21 has filed for Chapter 11 bankruptcy protection and is closing all of its remaining 13 stores, it announced Thursday. |
| AMC’s CEO describes coronavirus precautions, including upgraded air filtration at reopened theaters“We’ve invested literally millions and millions in high-tech solutions” to mitigate coronavirus risk. AMC Chief Executive Adam Aron told CNBC on Thursday. |
| LVMH plans to sue Tiffany over troubled deal, alleges jeweler mismanaged coronavirus crisisLouis Vuitton owner LVMH accuses Tiffany of “dishonesty” and mismanaging the coronavirus crisis. |
| Electric vehicle start-up Lucid unveils Air sedan to take on TeslaElectric vehicle start-up Lucid is touting its all-electric Air sedan as a more efficient, faster and spacious vehicle than the Tesla Model S, a car the company’s CEO Peter Rawlinson helped bring to market. |
| The NFL will use Microsoft Teams to let fans cheer along with players when they score a touchdownThe move extends a tech partnership the NFL has had with Microsoft since 2013. |
| WHO calls delay in AstraZeneca coronavirus vaccine trial a ‘wake up call’WHO Chief Scientist Dr. Soumya Swaminathan said Thursday there’s no need to be “overly discouraged” by the news, adding that “these things happen.” |
| A 102-carat ‘perfect’ diamond could become the most expensive jewel ever sold to online bidder at Sotheby’sThe stone, a 102.39-carat D Colour Flawless Oval Diamond, could fetch $10 million to $30 million. Only seven flawless white diamonds of more than 100 carats have ever been sold at auction. |
| Trump health official Seema Verma spent millions in taxpayer funds to boost ‘personal brand,’ Democrats chargeLeaders from four congressional committees are now calling on CMS chief Seema Verma to “personally reimburse the taxpayers for these inappropriate expenditures.” |
| Manhattan rental market plunges, leaving 15,000 empty apartments in AugustHopes for a rebound in the fall or the end of 2020 look increasingly unlikely. Although rental prices have come down, the discounts are not steep enough yet to lure new renters back to the city. |
| Coronavirus live updates: Scientists question Russian vaccine data; WHO says world must ramp up trialsThe coronavirus has infected more than 27.8 million people around the world so far, killing at least 904,300 people. |
| Assange Trial Abruptly Halted After US Attorney Exposed To COVID-19: “Courtroom At Risk”Assange Trial Abruptly Halted After US Attorney Exposed To COVID-19: “Courtroom At Risk” Tyler Durden Thu, 09/10/2020 – 12:30 During the fourth day of resumed Julian Assange extradition hearings the judge has unexpectedly halted proceedings due to one of the lawyers possibly being exposed to coronavirus. District Judge Vanessa Baraitser said the London hearing has been adjourned until at least next Monday, pending the US government’s attorney awaiting results of a COVID-19 test. |
| New York Hospitalizations Climb For 4th Day As Cuomo Makes Masks On Subway Mandatory: Live UpdatesNew York Hospitalizations Climb For 4th Day As Cuomo Makes Masks On Subway Mandatory: Live Updates Tyler Durden Thu, 09/10/2020 – 12:18 Summary: NY hospitalizations climb for 4th day Cuomo imposes new subway mask mandate Europe daily tally passes US for first time in months Global deaths top 900k China confirms another reinfected patient Europe cases top 4.6 million as outbreak worsens India reports another record daily case total with 95k+ Victoria state sees another daily decline * * * Update (1200ET): New York’s COVID-19 hospitalization rate has crept higher for the 4th straight day, the longest such streak since the spring, in what some fear might be a sign that that a second wave could be stirring already. However, the move comes aft
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| First (& Most Important) Rule Of Investing: Master The Art Of Doing NothingFirst (& Most Important) Rule Of Investing: Master The Art Of Doing Nothing Tyler Durden Thu, 09/10/2020 – 12:15 Authored by Jesse Felder via The Felder Report, This post is an excerpt from a recent Market Comment featured on The Felder Report PREMIUM.
Perhaps the most important lesson about investing I’ve learned is when there is nothing to do, do nothing. The problem is nothing may actually be the hardest thing to do. We all want to feel like we are being proactive and that requires doing something even when there’s really nothing to be done. So it takes a great deal of discipline to actually resist the urge to do something and commit to doing nothing. In that way, however, committing to doing nothing is probably the most proactive thi … |
| Oregon Faces “Greatest Loss Of Life In State History” From Wildfires As La Nina “Threatens Bigger Blazes, Storms”Oregon Faces “Greatest Loss Of Life In State History” From Wildfires As La Nina “Threatens Bigger Blazes, Storms” Tyler Durden Thu, 09/10/2020 – 11:55 As wildfires move north from California, the state of Oregon is being engulfed in dangerous wildfires – some of the most destructive in its history – as La Nina conditions drive some of the worst wildfires seen in the American West in years. The weather pattern has also been blamed for the latest string of hurricanes that have hammered Gulf Coast and East Coast states over the past several months. As of late Wednesday, 47 active fires have burned 374,522 acres in the Beaver State, according to the Oregon Office of Emergency Management. |
| Citi names Jane Fraser new chief in Wall Street firstScotland-born Jane Fraser is named new chief executive of Citigroup, the first woman to run a big US bank. |
| British Airways owner IAG to cut more flightsBA has also reached the outline of a deal with the Unite union to end a bitter row over pay and job cuts. |
| Tesco to trial drone delivery serviceCustomers will be able to have “small baskets” of goods delivered in minutes. |
| Relief on NPAs, interest issue being consideredRelief on NPAs, interest issue being consideredThe operations to occupy the heights were carried out along with the pre-emptive actions to occupy heights near the Southern bank of Pangong Tso around August-end. |
| Buffett bets big on an IPO for 1st time in 54 yrsBuffett bets big on an IPO for 1st time in 54 yrsSnowflake Inc., a fast-growing cloud-software and data-warehousing company, filed an amended offering prospectus Tuesday that revealed Berkshire will buy roughly $250 million of Snowflake shares at its IPO price and an additional 4 million shares from another stockholder. |
| Game of Thrones actor Diana Rigg dies aged 82Game of Thrones actor Diana Rigg dies aged 82Rigg, who had a long career in theatre as well as appearing in the James Bond film “On Her Majesty’s Secret Service” in which her character marries the British spy, died at home with her family. |
| Tents fit for a wedding reception and artfully constructed wooden bandstands: Welcome to outdoor classrooms during a pandemic ” and now for the bad news‘We have several children who are runners and that terrifies us. In a building you can control the situation, but outside you can’t, says Rosier-Rayburn, a special-education teacher. |
| The Wall Street Journal: Citigroup names Jane Fraser to succeed Michael Corbat as CEOJane Fraser will become the first woman to run a major Wall Street bank, succeeding Michael Corbat as Citigroup Inc. chief executive when he retires in February. |
| Market Snapshot: Dow gives up early Thursday gain as tech rebound fades in choppy trade on Wall StreetU.S. stock benchmarks relinquish early gains Thursday, in a turbulent session punctuated by the Dow and S&P 500 swinging between small gains and losses, as investors attempt to assess the next phase of the COVID-19 recovery. |
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