Written by Gary
Stocks fight for gains amid signs America is returning to work (SPY +1.0%). Investors worry that China’s new Hong Kong security law could result in trade sanctions.
Here is the current market situation from CNN Money | |
North and South American markets are mixed. The S&P 500 is higher by 0.94%, while the IPC is leading the Bovespa lower. They are down 1.06% and 0.07% respectively. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
Trump set to order review of law that protects social media companiesU.S. President Donald Trump is expected to order a review of a law that has long protected internet companies, including Twitter and Facebook, an extraordinary attempt to intervene in the media that experts said was unlikely to survive legal scrutiny. | |
Volkswagen approves further projects in Ford allianceVolkswagen said on Thursday its supervisory board had approved further projects in its alliance with Ford . | |
Oil prices rise on higher U.S. gasoline demand, refinery runsOil futures rose on Thursday, erasing earlier losses, on signs U.S. gasoline demand is rising despite a big surprise build in crude inventories and worries that China’s new Hong Kong security law could result in trade sanctions. | |
Nissan plans big cuts to go small after first loss in 11 yearsNissan Motor Co outlined a new plan on Thursday to become a smaller, more efficient carmaker after the coronavirus pandemic exacerbated a slide in profitability that culminated in its first annual loss in 11 years. | |
Canada’s Huawei extradition ruling could unleash more Chinese backlashA Canadian court ruling that could permit the extradition of a senior Huawei Technologies Co Ltd executive to the United States leaves Canada vulnerable to further retaliation from Beijing, analysts said. | |
U.S. major airlines roll out more options to avoid staff lay-offsThe top three U.S. airlines, hit hard by the coronavirus pandemic, are rolling out fresh programs to induce tens of thousands of employees to accept voluntary leave or early retirement in the hope of avoiding widespread furloughs in the fall, company memos show. | |
New York’s Cuomo says businesses can turn away people not wearing masksNew York Governor Andrew Cuomo said he would sign an executive order on Thursday authorizing businesses to deny entry to anyone who does not wear a mask or face covering, stressing masks were critical to preventing the spread of the novel coronavirus. | |
Spain says it will do all it can to reverse Nissan closure, workers protestSpain said on Thursday it would do everything possible to stop Nissan from closing its main car factory in the country as angry workers burned tyres and shouted “War” outside the Barcelona plant. | |
General Electric CEO warns of negative cash flow in 2020General Electric Co on Thursday warned 2020 free cash flow would be negative as it struggles with weakness in its aviation and power units due to the coronavirus outbreak, sending its shares 3% lower. | |
‘Thousands’ Of Dutch COVID-19 Survivors Likely Have Permanent Lung Damage According To Top Pulmonologist‘Thousands’ Of Dutch COVID-19 Survivors Likely Have Permanent Lung Damage According To Top Pulmonologist Tyler Durden Thu, 05/28/2020 – 12:54 COVID-19 may be far less deadly than originally projected – and asymptomatic cases may be even more common than first suspected, but for those who have caught it and come down with symptoms, the disease can result in lasting symptoms, including shortness of breath, lethargy, recurrent fevers, headaches, itchiness and other mystery problems that aren’t going away. To that end, a top pulmonologist in the Netherlands says that thousands of Dutch residents who have recovered from COVID-19 may be left with permanent lung damage, resulting in decreased lung capacity and difficulty absorbing oxygen. | |
28 North Koreans Charged In Sweeping Conspiracy To Launder $2.5 Billion For Nuclear Program28 North Koreans Charged In Sweeping Conspiracy To Launder $2.5 Billion For Nuclear Program Tyler Durden Thu, 05/28/2020 – 12:36 Is the Trump Administration finally coming around to the notion that disarming North Korea’s nuclear arsenal is never going to happen? Well, at least not while the Kims are still in power. Since President Trump started his ‘bromance’ with Kim Jong Un, which briefly reemerged following the Dear Leader’s purported brush with illness, corners of the intelligence community have been grumbling to the press about how the president was being played by both Kim and his chief benefactor, President Xi and China, which accounts for more than 90% of North Korea’s foreign trade, and protects the Hermit Kingdom from harsher penalties and sanctions via China’s veto power at the security council. | |
China Secures Brazilian Soy As Trade War Restart Appears ImminentChina Secures Brazilian Soy As Trade War Restart Appears Imminent Tyler Durden Thu, 05/28/2020 – 12:15 With a new round of trade war increasingly likely between the US and China, Beijing has been buying Brazilian soybeans in a sign the Asian nation may be looking to secure an alternative source of supplies. According to Bloomberg, the world’s top soybean importer purchased more than 10 cargoes in Brazil this week, despite higher prices. In a further sign that China appears to be distancing from the US, Bloomberg adds that while China bid for American soy on Tuesday, state-run buyers were absent from the market Wednesday, the people said. | |
Sorry, Twitter, But Trump Is Right About Mail-In BallotsSorry, Twitter, But Trump Is Right About Mail-In Ballots Tyler Durden Thu, 05/28/2020 – 11:55 Authored by Michael Graham via InsideSources.com, President Donald Trump has had a problematic week on Twitter, engaging in political combat with foils like MSNBC’s Joe Scarborough has inspired a backlash beyond any he’s faced before as president. Part of the reaction was Twitter’s decision to stick a œfact check label on two of Trump’s tweets about mail-in ballots. This decision, in turn sparked its own backlash around issues of freedom of expression and political bias. (Will President Stacey Abrams ever get a tweet fact-checked by Twitter? Probably not.) | |
A deal that could put Vodafone Idea back in the telecom gameA deal that could put Vodafone Idea back in the telecom gameGoogle is reportedly considering to buy a stake of about 5 per cent in Vodafone Idea. | |
$3-bn of unused funds can aid mining sector$3-bn of unused funds can aid mining sectorDistrict Mineral Foundation funds have nearly Rs 23,800 crore, according to data from mines ministry. | |
TikTok’s rival cashes in on anti-China moodTikTok’s rival cashes in on anti-China moodMitron saw a 4x jump in downloads to 5.4 mn between April and May 25, according to data from Sensor Tower. | |
Project Syndicate: Does Trump have China Derangement Syndrome?As the Trump administration and congressional Republicans seek to blame China for the coronavirus pandemic and the COVID recession, they should take note that the Democrats’ obsession over Russia was a losing strategy. | |
England set for garden parties and group gatherings as Prime Minister Boris Johnson eases lockdown measuresPrime Minister Boris Johnson announced measures to further ease lockdown in England at a press conference on Thursday | |
The Margin: Tom Brady is selling ‘a part of the Brady family’ for $300,000The NFL legend probably isn’t in the market for a typical home in Tampa Bay, where the median runs costs about $250,000, but if he were, he could use the proceeds of his SUV sale and still have plenty left over for some new golf pants. |
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