Written by Gary
Weekly jobless claims rise unexpectedly, total 870,000 (SPY -0.6%). Initial Unemployment Claims Rolling Average Again Declined.
Here is the current market situation from CNN Money | |
 | European markets are lower today with shares in London off the most. The FTSE 100 is down 0.58% while France’s CAC 40 is off 0.28% and Germany’s DAX is lower by 0.11%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
 | Retailers have started paying rent again but are still fighting with their landlordsThe percentage of rent payers almost doubled to 65% from June to July, according to a study by the National Retail Federation and investment bank PJ Solomon. |
| United to offer Hawaii-bound passengers coronavirus tests, a possible blueprint for flights abroadThe tests could help travelers avoid quarantine requirements. |
| Olive Garden parent’s quarterly revenue falls by 28% as pandemic weighs on salesDarden Restaurants on Thursday reported that its revenue fell by more than 28% in its fiscal first quarter. |
| Singapore is committed to containing coronavirus pandemic even as daily cases fall, politician saysEarly in the year, Singapore was a poster child for its efficient handling of the spread of the virus. But that success was threatened after an outbreak among foreign migrant workers residing in dormitories, who primarily hail from India and Bangladesh. |
| Dogs that are trained to sniff out the coronavirus are being deployed at Helsinki AirportDogs that have been trained to detect the coronavirus have started working at Helsinki airport this week in a pilot project. |
| Should front-line medical workers get the coronavirus vaccine first? Not necessarilyFrontline health workers might seem like the obvious choice to get the vaccine first. But that might not necessarily be the right thing to do, bio-ethicists say. |
| Trump’s coronavirus vaccine czar says he’s had ‘enough’ of Democratic calls for his firing over pharma stock holdingsSlaoui admitted in a phone interview with CNBC that he still holds shares in GlaxoSmithKline, where he worked for nearly 30 years, and said he plans to use them as part of his retirement. |
| United turns to interactive Google map to help travelers unsure of where to go in coronavirus eraUnited launched a Google-backed booking map that let’s travelers filter out destinations by price and activity, such as hiking and culture. |
| 5 things to know before the stock market opens ThursdayU.S. stock futures pointed to a lower open Thursday after renewed tech stock selling sent Wall Street reeling. |
| Here’s Tesla’s key level after Battery Day disappointment, according to one traderTesla’s future is murky, but not entirely unpredictable, according to two traders at odds over the electric auto maker’s near-term outlook. |
| Actors Ryan Reynolds and Rob McElhenney are in talks to buy a Welsh soccer club“Deadpool” star Ryan Reynolds and “It’s Always Sunny in Philadelphia” actor Rob McElhenney are in talks to buy Welsh soccer club Wrexham A.F.C. |
| VW unveils new global ID.4 electric SUV; U.S. production starts in 2022The vehicle will be targeted at mainstream buyers, starting at $39,995 when it arrives in U.S. showrooms early next year. |
| CDC director says more than 90% of Americans remain susceptible to the coronavirusThe comments cast even greater doubt on the feasibility of achieving so-called herd immunity, which is reached when enough of the population has developed immunity against the virus so that it cannot efficiently spread. |
| 870,000 Americans Filed For First-Time Unemployment Benefits Last Week870,000 Americans Filed For First-Time Unemployment Benefits Last Week Tyler Durden Thu, 09/24/2020 – 08:34 870,000 Americans filed for first-time unemployment claims last week, slightly worse than the prior week’s and expectations. < … |
| Trump Threatens Veto Of New COVID-19 Vaccine Rules; France Imposes New ‘Social Distancing’ Restrictions: Live UpdatesTrump Threatens Veto Of New COVID-19 Vaccine Rules; France Imposes New ‘Social Distancing’ Restrictions: Live Updates Tyler Durden Thu, 09/24/2020 – 08:20 Summary: Trump vetos vaccine restrictions China says mass vaccinations to take up to 2 years France introduces more curbs Israel lockdown intensifies FDA delivers emergency authorization Moscow reports 1,050 new cases Indonesia suffers 2nd straight record * * * While the US marches toward the 7 million mark, France announced new restrictions on Wednesday calling for bars and restaurants to be shuttered in the ‘hot spot’ of Marseille, and Germany added 11 regions to its list of COVID hotspots, as the second wave of COVID-19 infection spreads across Europe. China has been pressing ahead with its vaccination projects, with multiple efforts already well into ‘Phase 3’ testing. But if China’s COVID-19 infection rates are really so low as to be virtuallly nonexistent, as Chinese official data, and state-controlled media reports, have suggested, then why is the Communist Party of China attaching such a high priority to the country’s domestic mass-vaccination efforts? A top government scientist told the local press that it’ll take China up to two years to finish vaccinations on a mass scale, said in … |
| Traders On Edge As Futures Fail To Rebound After Wednesday RoutTraders On Edge As Futures Fail To Rebound After Wednesday Rout Tyler Durden Thu, 09/24/2020 – 08:07 US equity futures were subdued and European stocks rebounded from an early selloff as markets tried to stem the Wednesday rout sparked after a range of Fed speakers urged further fiscal stimulus, even as investors braced for another staggering weekly jobless claims figure, the latest evidence of a slowing economic recovery from a pandemic-led recession. |
| USDTRY Drops Like A Stone After Turkish Central Bank Unexpectedly Hikes By 200 bpsUSDTRY Drops Like A Stone After Turkish Central Bank Unexpectedly Hikes By 200 bps Tyler Durden Thu, 09/24/2020 – 07:30 With the Turkish economy hammered as a result of a collapse in global tourism, the country’s FX reserves dwindling by the day preventing the infamous Turkish interventions to stabilize the currency, Moody’s warning that Turkey faces an imminent balance of payments crisis, and the entire world cutting rates and easing to stimulate economies, the last thing Wall Street expected this morning from the CBRT was a rate hike (even though the Turkish Lira had been hitting daily record lows every day for the past two weeks). And yet moments ago, the Central Bank of Turkey shocked investors when it announced a whopping 200bps hike in the one week repo rate, from 8.25% to 10.25%, the first hike from Turkey in two years following an aggressive easing cycle which was unleashed when the rate hit a record 24% in late 2018. |
| Rishi Sunak unveils emergency jobs schemeThe government and firms will top up workers’ wages, helping cover up to 77% of their hours for next six months. |
| Rishi Sunak: VAT cut to be extended for hospitality sectorThe chancellor has announced that a VAT cut to 5% across hospitality and tourism will be extended. |
| Rishi Sunak’s post-furlough plan: At-a-glanceThe chancellor sets out plans to protect jobs over the winter. Here’s what you need to know. |
| Australian cricket legend Dean Jones no moreAustralian cricket legend Dean Jones no moreAustralian cricket legend and commentator was in Mumbai for an IPL assignment. He was 59. |
| Jio adds almost 4.5 mn subscribers in JuneJio adds almost 4.5 mn subscribers in JuneBharti Airtel and Vodafone Idea (Vi), however, lost 1.12 million and 4.82 million customers respectively in June, in the aftermath of the December 2019 hikes and post-lockdown pangs as many feature phone users with prepaid connections gave up mobile connections as they were unable to recharge. |
| Farmer protest to affect movement of foodgrainFarmer protest to affect movement of foodgrainThe Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Bill, 2020 and The Farming Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020 were passed by voice vote in Rajya Sabha on Sunday. They await the President’s nod to become laws. |
| Documentary Of The Week: ‘How Did We Get Here?’Written by John Lounsbury Indian-American journalist Fareed Zakaria discussed the current disarray of governance around the world in a presentation at the Oxford Union Society (University of Oxford) in January of this year. It is useful to hear this review presented before the COVID-19 pandemic became established because the underlying factors troubling the world today exist independently from the health crisis.
|
| Futures Movers: Oil prices edge lower as traders weigh demand outlookOil futures trade slightly lower as investors weighed the outlook for demand amid rising COVID-19 cases. |
| : Walmart to hire 20,000 seasonal workers, stocks up on TVs for the holidaysWalmart has announced its holiday plan as retailers gear up for an early start to the shopping season |
| IPO Report: 5 things to know about avocado producer Mission Produce before it goes publicMission Produce shares are expected to price between $15 and $17, and the company’s value could reach $1.18 billion. |
Earnings 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:
