12Jun2020 Market Close: Wall Street’s Roller Coaster Session Fails To Dent Retail Euphoria, DOW Closes Up 477 Off 813 Point High This Morning, WTI Crude 36.38 And US Dollar 96.13 Little Changed

California examines Amazon’s business practices: WSJ

California investigators are examining Amazon.com Inc’s business practices as part of an inquiry into the company, the Wall Street Journal reported on Friday, citing people familiar with the matter.

World shares modestly lower as investors mull coronavirus, recovery outlook

Global equity markets gave back earlier gains on Friday as concerns triggered by the U.S. Federal Reserve’s less-than-optimistic outlook for an economic recovery and a jump in U.S. coronavirus cases gave investors pause.

U.S. regulator sides with FCA in Jeep trade case against Mahindra

A U.S. regulator ruled that India’s Mahindra and Mahindra Ltd infringed upon the intellectual property rights of Fiat Chrysler Automobiles NV’s (FCA) Jeep brand, barring the sale of the vehicles in question.

Wall Street gains on bargain hunting but trading volatile

U.S. stocks were higher in late afternoon trading on Friday but had bounced between losses and gains as bargain hunting following a sharp losses a day earlier was offset by continued worries about the economy.

Exclusive: U.S. senators draft plan to reform new plane design approvals after 737 MAX crashes

Two key U.S. senators are circulating a bipartisan draft bill that would reform how the Federal Aviation Administration certifies new aircraft in the wake of two fatal Boeing 737 MAX crashes that killed 346 people.

Volkswagen, Audi on hold as Mexico’s Puebla state not ready to reopen

Mexico’s Puebla state, where German automaker Volkswagen and its luxury brand unit Audi have major plants, said it is not ready to reopen its automotive sector due to ongoing concerns about the spread of the coronavirus.

Bankrupt car rental firm Hertz to offer up to $1 billion in shares

Car rental firm Hertz Global Holdings Inc said it would sell up to $1 billion in shares, cashing in on a huge speculative rise in its share price since filing for bankruptcy late last month.

Coronavirus threatens Chicago’s last remaining trading pits

Chicago brokers and traders worry the novel coronavirus will kill more of the city’s once famous shout-and-gesture trading pits.

China’s Tencent Music reports passive stake in Warner Music

China’s Tencent Music Entertainment Group on Friday reported a 5.2% passive stake in Class A shares of Warner Music Group Corp, about a week after the world’s third-largest recording label’s debut on the Nasdaq.

Rollercoaster Session Fails To Dent Retail Euphoria

Rollercoaster Session Fails To Dent Retail Euphoria Tyler Durden Fri, 06/12/2020 – 16:06

In the end, that “gamma neutral” level in the S&P at 3,046 which we highlighted earlier,A proved too much for the bulls…

Minneapolis City Council Votes To Replace Police Department With Community-Led � ModelA

Minneapolis City Council Votes To Replace Police Department With Community-Led � ModelA Tyler Durden Fri, 06/12/2020 – 15:46

The City of Minneapolis just took another step – albeit a small one – toward the “police-free future” that BLM activists, denizens of the CHAZ and the Democratic politicians who pander to them envision, as the “defund the police” movement gains momentum across the country. On Friday afternoon, members of the Minneapolis City Council who previously voted in a veto-proof majority to try and abolish the department again voted to take the next step toward pushing an agenda item that has virtually no chance of ever becoming a reality.

According to the latest vote, the council will begin a year-long process to gather input from various community stakeholders about what a future ‘public safety department’ might look like.

Fortnite Is Missing 10-Year-Old Players: They Are Daytrading On Robinhood Instead

Fortnite Is Missing 10-Year-Old Players: They Are Daytrading On Robinhood Instead Tyler Durden Fri, 06/12/2020 – 15:25

On Wednesday we published a remarkable chart from Jesse Felder, showing that in the past few weeks, google search queries for “day trading” and “call option” had exploded to all time highs as retail daytraders flooded into the “can’t lose” market.

“He’s Not All There” – Trump Slams Biden, Insists He Will “Do Other Things” If He Loses In November

“He’s Not All There” – Trump Slams Biden, Insists He Will “Do Other Things” If He Loses In November Tyler Durden Fri, 06/12/2020 – 15:08

During an afternoon Fox News interview, President Trump again repudiated Joe Biden’s claim that Trump would need to be escorted out of the White House by the military, and slammed the former VP as “not all there.”

Infosys lands itself in a race discrimination lawsuit in the US

Infosys lands itself in a race discrimination lawsuit in the USA former employee has sought a jury trial in a Texas court and compensatory damages from the company.

Anil Ambani’s worries are far from over

Anil Ambani’s worries are far from overAnil Ambani had given personal guarantee to the loans given to RCom & Reliance Infratel.

A $500-bn war chest to safeguard economy

A $500-bn war chest to safeguard economyA strong kitty allows the RBI to timely intervene in forward and spot currency markets.

05 June 2020 ECRI’s WLI Improves Again But Continues Deep In Contraction

Written by Steven Hansen

ECRI’s WLI Growth Index which forecasts economic growth six months forward improved, remains deep in contraction, and remains at a level at the values seen during the Great Recession.

The Conversation: Why some nursing homes did better in protecting residents from coronavirus

Three factors likely played the biggest roles.

The new tech hubs: With more employees working from home, companies could diversify workforces

A confluence of factors tied to COVID-19, the thriving work-from-home economy, and social protests could be accelerating momentum in Atlanta and other destinations far from Silicon Valley. The events have put a spotlight squarely on the hiring patterns of U.S. corporations during a slice of time when the physical location of prospective employees isn’t crucial, and when most organizations are actively supporting social causes with donations, pledges of support, and vows to do more on diversity and inclusion.

Market Extra: Here’s how the stock market tends to trade after brutal selloffs like Thursday’s

U.S. stocks on Thursday book their worst daily plunge since fears about the economic impact of measures to curtail the spread of COVID-19 pandemic took root in investors’ psyche back in March.