Written by Gary
Stocks making the biggest moves premarket: Nvidia, Oracle, Immunomedics, Delta, Nikola (SPY +1.0%). Fresh progress in COVID-19 vaccine and Nikola shares tumble.
Here is the current market situation from CNN Money | |
 | European markets are mixed today. The CAC 40 is up 0.37% while the FTSE 100 gains 0.14%. The DAX is off 0.01%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
 | Nikola details ‘false and misleading’ information of short seller’s fraud claimsIn a statement Monday, the company said there were “dozens” of inaccurate allegations in the report, outlining a handful of specific examples. |
| Winter is coming, bringing a new challenge to already-struggling restaurantsNew data from the National Restaurant Association outline how hard the industry has been hit by the pandemic, with an estimated $165 billion in sales lost from March through July and more than 8 million workers either furloughed or laid off at the peak of the outbreak. |
| Delta will use frequent-flyer program to back $6.5 billion in debtDelta Air Lines became the latest carrier to tap its frequent-flyer program to cover new debt. |
| Coronavirus live updates: WHO reports record one-day spike in cases; Delta to raise $6.5 billionThe coronavirus has infected more than 29.02 million people globally as of Monday, killing at least 924,643 people so far. |
| Immunomedics shares double after Gilead agrees to buy the cancer drugmaker in $21 billion dealThe deal will provide Gilead access to Immunomedics’ cancer treatment drug called Trodelvy, an FDA-approved treatment for metastatic triple-negative breast cancer. |
| ‘Tenet’ surpasses $200 million globally, but U.S. box office remains sluggishWhile Warner Bros.’ “Tenet” has managed to haul in more than $200 million globally, folks in the U.S. aren’t flocking to cinemas. |
| ‘Mulan’ brings in $23.2 million during lackluster opening weekend in ChinaDisney had high hopes that “Mulan” would thrive in China, but the live-action remake of the beloved animated film didn’t make quite the splash that was expected. |
| 5 things to know before the stock market opens MondayHeading into Monday trading, the Nasdaq was off just under 10% from its closing record on Sept. 2. |
| Coronavirus cases are growing in 11 U.S. states as Fauci warns of ‘disturbing’ dataCovid-19 cases continued to grow over the weekend in nearly a dozen states as the nation’s leading infectious disease expert warns about the nation’s worrying level of new infections. |
| Stocks making the biggest moves premarket: Nvidia, Oracle, Immunomedics, Delta, Nikola & moreNvidia, Oracle and Immunomedics all surged on dealmaking activity. Delta backs new debt with its frequent flyer program. |
| Heatwaves are becoming more deadly as nights warm faster than daysLower nighttime temperatures that typically provide critical relief from the hot days are disappearing as the climate changes. |
| AstraZeneca coronavirus vaccine clinical trials resume in U.K. after pause over safety concernsAstraZeneca paused trials earlier this week due to a potentially unexplained illness in a woman in the U.K. |
| Pfizer coronavirus vaccine could be given to Americans before end of the year, CEO saysIf the Food and Drug Administration approves the vaccine, the company is prepared to distribute “hundreds of thousands of doses, Pfizer CEOÂ Albert Bourla said. |
| The 5 Ingredients For Another ‘Market Event’ RemainThe 5 Ingredients For Another ‘Market Event’ Remain Tyler Durden Mon, 09/14/2020 – 08:36 Authored by Lance Roberts via RealInvestmentAdvice.com, A typical mainstream media claim is the March decline was œthe bear market,  and the next bull market cycle has begun. Unfortunately, March was not a œbear market,  but just a correction within the ongoing bull market that started in 2009. As such, the 5-ingredients for another market œevent  remains. A History Of Crashes Throughout history, there are numerous œfinancial events,  which have devastated investors. The major ones are marked indelibly in our financial history: œThe Crash Of 1929, œThe Crash Of 1974, œBlack Monday (1987), œThe Dot.Com Crash, and the œThe Financial Crisis.  The belief that each of these previous events would be the last is common. Each time the œculprit  was addressed, it assured the markets the problem would not occur again. For example, following the crash in 1929, Congressed rushed to establis … |
| Global COVID-19 Cases Top 29 Million After WHO Reports Record Jump: Live UpdatesGlobal COVID-19 Cases Top 29 Million After WHO Reports Record Jump: Live Updates Tyler Durden Mon, 09/14/2020 – 08:21 Summary: WHO says record jump reported Sunday Global cases topped 29 million Israel imposes new 3 week lockdown Schools reopen across Europe Victoria state sees lowest case count in 3 months New Zealand to lift all COVID restrictions next week Mexico cases, deaths climb * * * The World Health Organization on Sunday reported a record-breaking jump in the number of new COVID-19 cases reported worldwide in a single day, with at least 307,930 new cases confirmed. The daily tally – reported Sunday – was largely driven by another near-record total out of India, along with a surge in new infections across the EU and the UK and – notably – Israel, which is now second only to Bahrain for highest infection rate globally (that’s cases/population). The US and Brazil also contributed their fair share of cases. |
| Nikola Shares Tumble After Company Issues Second Response, Admits Nikola One Semi Was Not “Powertrain Driven”Nikola Shares Tumble After Company Issues Second Response, Admits Nikola One Semi Was Not “Powertrain Driven” Tyler Durden Mon, 09/14/2020 – 08:07 Yesterday we reported that people were driving out to the desert in Utah to film themselves rolling their cars, in neutral, down the very same hill that was alleged to be used to “power” a Nikola One Semi that allegedly wasn’t powering itself for a 2018 Nikola commercial. This morning, Nikola put out another press release attempting to address the main points in last week’s Hindenburg Research report, but most importantly it admits that the Nikola One wasn’t powering itself during the company’s 2018 commercial. You can read Nikola’s full response here. |
| Futures Surge On Monday Merger Mania, Fresh Vaccine HopesFutures Surge On Monday Merger Mania, Fresh Vaccine Hopes Tyler Durden Mon, 09/14/2020 – 07:58 U.S. stock index futures jumped 1.3% on Monday amid fresh progress in COVID-19 vaccine development and a triumphal return of “Merger Monday” thanks to a flurry of multi-billion dollar deals. |
| Wetherspoon: 66 staff test positive across 50 pubsThe firm dismisses claims pubs are “dangerous” after some workers contract the virus after reopening. |
| TikTok rejects Microsoft bid at eleventh hourOracle is now the favourite to take over US operations of the popular Chinese-owned video-sharing app. |
| Singapore distributes Covid contact-tracing tokensThe government hopes the Bluetooth tokens will make it easier to control the spread of the virus. |
| Banking Regulation Bill introduced in LSBanking Regulation Bill introduced in LSThe Bill seeks to bring cooperative banks on par with developments in the banking sector through their better management and proper regulation to protect the interests of depositors. |
| Dream11 parent secures $225 mn in fresh fundingDream11 parent secures $225 mn in fresh fundingTiger Global, TPG, ChrysCapital and Footpath Ventures have made primary and secondary investment in Dream Sports. |
| Banks’ NPAs in large industry, services fall 31% in over two years to Rs 4.36 lakh croreBanks’ NPAs in large industry, services fall 31% in over two years to Rs 4.36 lakh crore”As per Reserve Bank of India (RBI) data on domestic operations, NPAs of scheduled commercial banks pertaining to large industry and services have come down to Rs 4,36,492 crore as on June 30, 2020 (provisional) from Rs 6,35,971 crore as on March 31, 2018, registering a decline of 31 per cent,” Thakur said in a written reply to the Lok Sabha. |
| Forecaster of the Month: Economy needs more certainty, which can only come from Washington, says the best forecaster of the monthThe Forecaster of the month says the economy needs a centrist government to restore confidence. |
| New Japanese PM Suga is unlikely to stray far from Abenomics. But he has more pressing issuesJapan’s ruling Liberal Democratic Party has chosen close Shinzo Abe confidant Yoshihide Suga as leader and next Prime Minister, in an overwhelming show of support for the resigning PM’s policies. |
| Election: Trump now backs higher-ethanol gas at pumps in move to court farm votes before NovemberPresident Donald Trump on Saturday offered a boost to the ethanol industry as he courts farmers and biofuel producers in Midwestern swing states. |
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