Written by Gary
Tech rebounds, Admits Nikola One Semi Was Not Powertrain Driven (SPY +1.6%). Stocks rebound on Vaccine hopes and M&A surge.
Here is the current market situation from CNN Money | |
 | North and South American markets are sharply higher today with shares in U.S. leading the region. The S&P 500 is up 1.63% while Brazil’s Bovespa is up 1.23% and Mexico’s IPC is up 1.19%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| Here’s what to expect from Kraft Heinz’s investor meetingThe coronavirus pandemic has revived Kraft Heinz’s sales just as it prepares to unveil its turnaround strategy. |
| In Photos: Oregon wildfires devastate communities as fires rage onA week after wildfires began consuming thousands of acres of land in Oregon, firefighters are still working to contain some of the most destructive blazes in the state’s history. |
| Macy’s unveils plans for televised-only Thanksgiving Day Parade, scraps parade routeNew York City will host this year’s Macy’s Thanksgiving Day Parade, though the celebration will “not be the same parade we’re used to,” Mayor Bill de Blasio said on Monday. |
| New York Sports Club owner files for bankruptcy, with gyms hit by pandemicNew York Sports Club owner Town Sports International filed for Chapter 11 bankruptcy Monday, with many gyms nationwide still shut because of the Covid pandemic. |
| PepsiCo to launch drink to aid sleep as consumers struggle with stressPepsiCo is launching a new enhanced water drink called Driftwell. |
| Beyond Meat is launching meat-free meatballs in grocery storesBeyond Meat is bringing its plant-based meatballs to grocery stores nationwide. |
| Gilead CEO: We’re studying new ways to treat coronavirus with remdesivir outside of the hospital“We want to follow the science here. We don’t to get ahead of it,” Gilead Sciences CEO Daniel O’Day told CNBC on Monday. |
| Nikola rebuts fraud claims but acknowledges that its truck wasn’t driving itselfThe company said there were “dozens” of inaccurate allegations in a report by a short-selling firm. |
| Stocks making the biggest moves midday: Oracle, Nvidia, Immunomedics, Overstock & moreOracle, Nvidia and Immunomedics were all up on dealmaking news. Overstock got a boost after an analyst upgrade. |
| 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 million people globally as of Monday, killing at least 924,800 people so far. |
| 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. |
| 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. |
| Platts: 5 Commodity Charts To Watch This WeekPlatts: 5 Commodity Charts To Watch This Week Tyler Durden Mon, 09/14/2020 – 12:34 Via S&P Global Platts Insight blog, As the 36th Asia-Pacific Petroleum Conference (APPEC) opens, this week’s Tracker kicks off with a look at Saudi crude oil pricing into Asia. In Europe, meanwhile, steel prices are recovering, and carbon emission allowances face a volatile period amid legislative change. 1. Largest Saudi crude OSP cuts are to Asia; headwinds to higher exports remain |
| Does TikTok/Oracle/WalMart ‘Partnership’ Accomplish Anything?Does TikTok/Oracle/WalMart ‘Partnership’ Accomplish Anything? Tyler Durden Mon, 09/14/2020 – 12:19 Update (1205ET): From the minute Oracle emerged as the ‘victor’ in the battle to purchase TikTok US, it was clear to many that the reason the proposal submitted by the Microsoft/Wal-Mart team had been rejected was because this actually wasn’t a “deal” after all. Somehow, Oracle had managed to read the tea leaves. From the earliest days of the talks, Larry Ellison’s company had been said to be favoring an approach that would look more like a licensing deal than a buyout. In a column on the news published Monday in the Verge, policy editor Russel Brandom gets right to the point: “Oracle’s TikTok deal accomplishes nothing,” the piece blares in the headline. In the hours since it was written, the relationship has gotten even more complicated, with Wal-Mart reportedly getting a piece of the action, according to the Chinese press.
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| JPMorgan: This Is The Worst Case Scenario For The Market Into Year-EndJPMorgan: This Is The Worst Case Scenario For The Market Into Year-End Tyler Durden Mon, 09/14/2020 – 12:15 Despite the broad normalization of the put-call ratio and moderating option gamma exposure following last week’s fireworks, investors still have to contend with the upcoming macro event of the U.S. Presidential elections. As Deutsche Bank’s Parag Thatte notes, the VIX futures curve continues to show a historically high premium for the October expiry contracts when compared to the September and November expiries. |
| NYC Cancels Macy’s Thanksgiving Day Parade; Russia Recruits 55k Volunteers For COVID-19 Vaccine Trials: Live UpdatesNYC Cancels Macy’s Thanksgiving Day Parade; Russia Recruits 55k Volunteers For COVID-19 Vaccine Trials: Live Updates Tyler Durden Mon, 09/14/2020 – 12:00 Summary: NYC Macy’s Day parade cancelled Recruitment completed for Russian ‘Phase 3’ trials 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 * * * Update (1130ET): For the first time in nearly 100 years, New York City will not play host to the Macy’s Thanksgiving Day Parade. The iconic parade, which draws tourists from all over the world to pack the streets of Manhattan with its floats and performances, has officially been cancelled by Mayor Bill de Blasio. The mayor announced the decision during a Monday press conference, where he said the parade would be held “virtually” this year dur to the pandemic – a decision that was widely expected. “It will not be the same parade we’re used to,” de Blasio said. “[Macy’s is] reinventing the event for this moment in history. And you will be able to feel the spirit and the joy of that day.”< … |
| TikTok: Oracle confirms being picked by Bytedance to be app’s partnerThe American database specialist says a tie-up plan has been submitted to the US government. |
| No-deal Brexit and Covid threaten ‘double whammy’ for car industryA no-deal Brexit could cost UK and European car makers £100bn, trade groups have warned. |
| Wetherspoon: 66 staff test positive across 50 pubsThe firm dismisses claims pubs are “dangerous” after some workers contract the virus after reopening. |
| TikTok owner picks Oracle over MicrosoftTikTok owner picks Oracle over MicrosoftOracle said that TikTok has picked the U.S. company to be its “trusted technology provider,” beating out rival Microsoft in a deal that could help keep TikTok app running in the U.S. |
| 9 stocks that can give solid returns in 2-3 weeks9 stocks that can give solid returns in 2-3 weeksThe domestic equity markets traded higher on Monday amid hopes of a vaccine to deal with the Covid-19 outbreak and ahead of US Fed policy outcome later this week. Analysts, however, believe that if Nifty slips below 11,400 level and stays below it, then investors will have to be cautious.Here are 9 stock ideas that analysts say can offer solid returns over the next 2-3 weeks: |
| How flu shots can help in the fight against CovidHow flu shots can help in the fight against CovidYes, that’s the flu vaccine, offered as an annual event that not nearly enough people partake in. The excuses are numerous, ranging from œI never get the flu to œI had the vaccine once and still got the flu. |
| Airline stocks led higher by Delta Air after travel demand rises to post-COVID-19 highAirline stocks were broadly higher Monday, led by Delta Air Lines Inc., after more positive travel demand data, with a surge in the broader stock market also providing support. |
| NerdWallet: The two things that are most likely wrecking your retirement savingsIf you earn a decent income but have trouble saving, these might be the culprits. |
| Europe Markets: European stock rally fades despite M&A surge and Wall Street gainsEuropean stocks closed higher on Monday but gave back earlier gains driven by vaccine hopes and a flurry of M&A activity. |
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