Written by Gary
Texas hospitals are scrambling to ready more beds for serious COVID-19 patients (SPY + 0.5%).
Here is the current market situation from CNN Money | |
 | European markets are higher today with shares in Germany leading the region. The DAX is up 0.69% while London’s FTSE 100 is up 0.67% and France’s CAC 40 is up 0.50%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
 | Plastic waste surges as coronavirus prompts restaurants to use more disposable packagingThe surge in single-use plastic is a major blow to the fight against plastic pollution, which is projected to increase by 40% in the next decade. |
| More than 500,000 people have died from coronavirus worldwide as infections continue to surgeThere are still no drugs approved by the U.S. Food and Drug Administration to treat Covid-19. |
| ‘Oven-like conditions’: Scorching heat and coronavirus endanger people without AC this summerOlder people with underlying health conditions are most vulnerable to coronavirus and heat-related illness as a particularly blistering summer approaches. |
| From tailgating parties to worksites: Five unique features on Ford’s new F-150 pickupFord unveiled its new F-150 pickup Thursday night with surprising new features, like an integrated generator and hidden bottle openers for worksites and tailgate parties. |
| ‘I still have nightmares every night’ ” health workers struggle with PTSD symptoms as coronavirus takes tollHealth care workers are fighting a new battle regarding their mental health and well-being due to Covid-19, as deaths have recently topped 120,000 people. |
| Arizona nursing homes brace for another coronavirus surge as cases continue to riseAs the coronavirus continues to spread across the U.S., causing dramatic spikes in the number of new cases in states that have reopened, the older population may have to brace themselves for another round of health risks. |
| Burger King’s U.S. same-store sales are flat as fast-food customers return to restaurantsBurger King’s U.S. same-store sales are trending flat as customers return to its locations for Whoppers and french fries. |
| Coronavirus live updates: Gilead announces remdesivir pricing; U.K. eyes big investments to rebuild economyThe coronavirus has infected more than 10.15 million people around the world as of Monday, killing at least 502,048 people. |
| Gilead’s coronavirus treatment remdesivir to cost $3,120 per U.S. patient with private insurance“At the level we have priced remdesivir and with government programs in place, along with additional Gilead assistance as needed, we believe all patients will have access,” Gilead CEO Daniel O’Day said in an open letter. |
| One stock well above its 200-day moving average has more room to run, traders agreeShares of Chipotle Mexican Grill have made strides this year, but traders say the stock is set to keep climbing, even in the event of a pullback. |
| 5 things to know before the stock market opens MondayU.S. stock futures rose on Monday even as U.S. coronavirus cases continued to surge. Dow stock Boeing jumped more than 3% in the premarket. |
| California orders bars to close in Los Angeles and other counties over coronavirus spread“COVID-19 is still circulating in California, and in some parts of the state, growing stronger,” Newsom said in a written statement. |
| Inside the NBA’s plan to make money and engage fans in the Disney ‘bubble’The National Basketball Association said it plans to use video board to engage fans at its Walt Disney World bubble used to resume its season suspended by Covid-19. |
| Facebook Pummeled In Pre-Market As Boycott Builds, Liberal Media Takes Aim At ZuckFacebook Pummeled In Pre-Market As Boycott Builds, Liberal Media Takes Aim At Zuck Tyler Durden Mon, 06/29/2020 – 08:28 Facebook shares are set for a second day of declines as a boycott of advertisers on the social media platform is quickly gaining momentum. The list of major companies that have said they’re decreasing or halting ad spending with Facebook is growing: Unilever Verizon Hershey’s Honda The North Face Ben & Jerry’s REI Patagonia Eddie Bauer Upwork Mozilla Magnolia Pictures Birchbox Dashlane TalkSpace LendingClub And now, Bloomberg reports that Starbucks Corp. and Diageo Plc. would also be pulling back on spending. Facebook shares tumbled over 4% in pre-market trading on Monday before bouncing back modestly after plunging 8.3% on Friday after Unilever, one of the world’s largest advertisers, halted advertisements on the social media channel. From last week’s high, shares are down 16%. |
| “This Time It Feels Different” – What If It’s Just Begun?“This Time It Feels Different” – What If It’s Just Begun? Tyler Durden Mon, 06/29/2020 – 08:16 Authored by Bill Blain via MorningPorridge.com, œThat about sums it up for me.. There is an amusing piece on the FTs’ Alphaville listing 20 things investors should look for when trying to work out who will be the next Wirecard. You don’t need to be a financial genius to work out which company they might be talking about ¦ It’s a basic wake-up call. In periods of economic darkness, its all-to-easy to be persuaded as to the efficacy of snake oil. If something over-promises, makes lots of noise while underdelivering, and is basically a personality cult ” then it’s long-term unlikely to be a particularly successful investment. |
| Futures Rebound From Early Losses Thanks To Old Faithful Overnight RampFutures Rebound From Early Losses Thanks To Old Faithful Overnight Ramp Tyler Durden Mon, 06/29/2020 – 08:01 Yesterday, shortly following the reopen for electronic trading at 6pm, we wrote that futures slumped “in a repeat of last Sunday’s gloomy open” however previewing that this slump “had fully reversed overnight with futures nice and green by morning” and sure enough the magical overnight ramp emerged once again, with Eminis reversing all early losses and trading near session highs at 3,016 at last check, with the dollar turning red and 10Y yield higher on the day even as the yield on 5Y Treasurys hovered near a record low. < … |
| Gilead Will Charge More Than $3,000 For A Course Of COVID-19 Drug RemdesivirGilead Will Charge More Than $3,000 For A Course Of COVID-19 Drug Remdesivir Tyler Durden Mon, 06/29/2020 – 07:56 All those stories about patients being billed for tens of thousands of dollars for coronavirus-related care elicited promises from the White House that “everything will be covered”. Still, as thousands of Americans complain about charges related to COVID-19 testing and care being passed on by their insurance companies, Gilead, the pharmaceutical company that has pushed remdesivir down the world’s throat despite the fact that the cheap steroid dexamethasone has proven – in at least one high quality study – more effective at lowering mortality rates, has just published its expected pricetag for a five-dose course of the drug. On Monday, Gilead disclosed its pricing plan for Gilead as it prepares to begin charging for the drug at the beginning of next month (several international governments have already placed orders). Given the high demand, thanks in part due to the breathless media coverage despite the drug’s still-questionable study data, Gilead apparently feels justified in charging $3,120 for a patient getting the shorter, more common, treatment course, and $5,720 for the longer course for more seriously ill patients. These are the prices for patients with commercial insurance in the US, according to Gilead’s official pricing plan. As per usu … |
| Gambling watchdog ‘toothless’ in helping vulnerable, MPs sayA report from MPs also criticises the regulator’s approach to preventing problem gambling. |
| Lookers fraud probe reveals £19m hole in accountsThe struggling car dealership Lookers found profits were overstated for several years. |
| Pakistan attack: Deadly raid on stock exchange in KarachiFour armed men storm the financial hub in Karachi, killing three people before being shot dead. |
| Don’t let market fool you, economy needs help: Experts to govtDon’t let market fool you, economy needs help: Experts to govtThere is a weak linkage between buoyant markets and economic recovery, economists at SBI said. |
| The new gold rally: Here’s how to play itThe new gold rally: Here’s how to play itWhile other asset classes are feeling the heat due to Covid-19, gold is the flavour of the season. |
| Counting on Trump? Don’t, China tells IndiaCounting on Trump? Don’t, China tells IndiaThe Global Times article coincides with reports on how allies are rallying behind India. |
| Explainomics: How to build an investment portfolio that supports racial justiceMeasuring the social impact of your stocks and bonds is not always easy, but there are still many tools to help you promote racial equity with your investments. |
| Bond Report: U.S. government bond yields steady to start holiday-shortened weekU.S. Treasury yields edge higher early Monday, after rates for long-dated debt hit a six-week low last week, amid rising cases of COVID-19 here and elsewhere in the globe. |
| Tesla’s Q2 sales, impacted by COVID, will be catalyst for the stock next weekTesla Inc. will report next week its sales from the second quarter ” when its main car-making factory was mostly closed. |
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