Written by Gary
DOW rises as Trump says US-China Pact intact, Nasdaq hits record (SPY +1.0%). Homebuilders see strongest May sales in over a decade.
Here is the current market situation from CNN Money | |
 | North and South American markets are broadly higher today with shares in Brazil leading the region. The Bovespa is up 1.34% while U.S.’s S&P 500 is up 0.99% and Mexico’s IPC is up 0.87%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| Anonymous Psychiatrist Deletes Rationalist Blog After NY Times Threatens DoxingAnonymous Psychiatrist Deletes Rationalist Blog After NY Times Threatens Doxing Tyler Durden Tue, 06/23/2020 – 12:28 The anonymous psychiatrist behind the wildly popular Slate Star Codex (SSC) has taken down the popular blog after the New York Times threatened to dox him in a “mostly positive” upcoming article. |
| Still A Bear MarketStill A Bear Market Tyler Durden Tue, 06/23/2020 – 12:10 Authored by Sven Henrich via NorthmanTrader.com, Don’t let new highs on Nasdaq fool you. It’s still a bear market and I can prove it. First let’s acknowledge they are have and continue to throw the kitchen sink at this: Historic monetary and fiscal stimulus with more to come apparently as the powers that be are discussing another trillion dollar stimulus package on top of the $3 trillion they’ve already thrown at this and of course the Fed’s historic balance sheet expansion. The latest round of stimulus talk again sparking another overnight rally in the US. But note the Fed’s balance sheet expansion has for now peaked in the 2nd week of June tor so, and magically did the S&P 500:
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| Dr. Fauci Notes “Disturbing Surge” In COVID-19 Infections Across Florida, Texas, Arizona: Live UpdatesDr. Fauci Notes “Disturbing Surge” In COVID-19 Infections Across Florida, Texas, Arizona: Live Updates Tyler Durden Tue, 06/23/2020 – 11:58 Summary: Dr. Fauci says he’s “disturbed” by surge in COVID cases Larry Kudlow says no chance of another lockdown Disney to reopen Disneyland Tokyo Arizona reports another record jump Cases reported in US last week climbed 25% compared with prior week Dr. Fauci testimony released Global case total tops 9 million Dr. Fauci prepares to testify Tennis superstar Novak Djokovic tests positive Arizona sees positives top 20% Georgia sees 7-day average climb toward records Arizona sees 20% positivity rate among all tests * * * Update (1155ET): After mostly reiterating comments from his last round of Congressional testimony – he voiced optimism about the possibility of a vaccine by year end, though he’s “concerned” the increase in community spread – Dr. Fauci took his criticism a step further during Tuesday’s testimony, and said he was concerned about the “disturbing surge” in coronavirus infections in Texas, Florida and Arizona seen in recent weeks. The situation in the US is very much a “mixed bag,” he said, and and the next two weeks will be “critical” in the fig … |
| Apple Can Now Unlock Your Car And Listen To You Washing Your HandsApple Can Now Unlock Your Car And Listen To You Washing Your Hands Tyler Durden Tue, 06/23/2020 – 11:56 Among some of the more disturbing features revealed at yesterday’s Apple Worldwide Developer Conference keynote were the additions of CarKey – a feature that is going to allow some BMW owners to unlock their car with their phone – and an app on your watch that literally listens to you wash your hands and reminds you if you haven’t washed them for long enough. The company was adamant on Monday that it wants to replace your car keys, despite the fact that the company’s long-held goal of making its own EV hasn’t materialized. Instead, it appears to have surrendered the whole car and is now focusing on something a little bit easier: putting your car keys on your smartphone. “They’ve been around for over 100 years but they’ve become big, bulky and ripe for reimagining,” am Apple company executive said on stage yesterday. The company is going to be rolling out the feature for 2021 BMW 5 series vehicles to start and demonstrated the “feature” on Monday, showing that even just a door handle top with an iPhone can now unlock a sedan. Drivers can then place the phone on the car’s charging pad and start the vehicle. |
| How’s the economy doing? Signs show things are looking upHow’s the economy doing? Signs show things are looking upEarly green shoots of revival have emerged in agriculture, manufacturing and services sectors, the govt said. |
| Can India shun China? Numbers that hold cueCan India shun China? Numbers that hold cueChinese companies registered sales of nearly Rs 1.4 lakh crore in the Indian electronics market last year. |
| How H-1B suspension will impact tech giantsHow H-1B suspension will impact tech giantsAnalysts foresee a case for more offshoring of work in the sector in the coming months, given the impact of Covid. |
| Apple quietly announces developers will be able to challenge app ‘guidelines’ amid backlash over policiesFacing developer backlash and antitrust scrutiny, Apple Inc. quietly announced it would be making a few tweaks to its App Store developer policies. |
| The Technical Indicator: Charting a bullish summer start, Nasdaq takes flight to record territoryTechnically speaking, the U.S. benchmarks’ bigger-picture backdrop remains bullish, on balance, despite increasingly uneven market price action, writes Michael Ashbaugh. |
| The Fed: Fed’s Bullard doesn’t see signs a damaging asset bubble is formingSt. Louis Fed President James Bullard on Tuesday said he doesn’t see a risky asset bubble forming in the wake of the Fed’s efforts to battle the coronavirus pandemic. |
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