Written by Gary
Stocks up, Bonds up, Dollar up, Gold up, Bitcoin up… COVID-cases Up (SPY +1.1%). WHO warns coronavirus pandemic is speeding up – the worst is yet to come.
The Market in Perspective
Here are the headlines moving the markets. | |
FAA starts Boeing 737 Max test flights, a milestone in getting the planes back in service after crashesBoeing on Monday started test flights of its 737 Max planes, which have been grounded for more than a year after two fatal crashes. | |
NY malls can’t open without air conditioning systems that filter the coronavirus, Gov. Cuomo says“Any malls that will open in New York, large malls, we will make it mandatory that they have air filtration systems that can filter out the Covid virus,” New York Gov. Andrew Cuomo said. | |
Impossible Foods begins selling its meatless sausage to restaurants nationwideImpossible Foods announced Monday that its meatless sausage will now be sold to restaurants nationwide. | |
Pharrell Williams calls on companies, legislators to make Juneteenth a paid holidayPharrell Williams, Ellen DeGeneres, Kenya Barris and Van Jones are working with Global Citizen and Teneo to help galvanize companies and state governments to recognize Juneteenth as a paid holiday. | |
New York City’s Broadway to remain dark through the rest of 2020On Monday, the Broadway League, a trade organization representing producers and theater owners, announced that Broadway performances in New York City will be suspended through the remainder of 2020 due to the coronavirus outbreak. | |
WHO warns coronavirus pandemic is speeding up as countries ease lockdown rules: ‘The worst is yet to come’“We all want this to be over. We all want to get on with our lives, but the hard reality is that this is not even close to being over,” WHO chief Tedros Adhanom Ghebreyesus said. | |
More states reverse or slow reopening plans as coronavirus cases climbThe number of new Covid-19 cases per day in the U.S. jumped 42% over the past week to an average of about 38,200 on Sunday, based on a seven-day moving average. | |
Instagram co-founder who built a coronavirus tracker says it’s showing concerning spread levels“People like to say we’re not in a second wave. I don’t know what a second wave [is] if that’s not a second wave,” Instagram co-founder Kevin Systrom told CNBC on Monday. | |
MLB bans players from spitting and adds hitting position in new coronavirus rulesMajor League Baseball announced highlights of its health and safety protocols, including extra-inning rule changes for its 60-game season expected to start July 23. | |
Nike-sponsored youth sports camps partner with tech firm Famer to host sessions virtually this summerFamer, a sports and fitness platform developer, will offer interactive summer camps after partnering with U.S. Sports Camps operates over 1,000 Nike camps in 16 different sports. | |
New Jersey delays resuming indoor dining at restaurants as coronavirus cases grow in other statesNew Jersey Gov. Phil Murphy said Monday that under the revised plan, indoor dining will be allowed to resume at a later date that has yet to be determined. | |
AMC shifts reopening to July 30 as Hollywood pushes back blockbustersOn Monday, AMC Theatres said it would now begin its phased reopening of theaters on July 30. | |
Fed Chair Powell Says “Full Recovery Unlikely Until People Feel Safe”Fed Chair Powell Says “Full Recovery Unlikely Until People Feel Safe” Tyler Durden Mon, 06/29/2020 – 16:08 Fed Chair Jay Powell has released his prepared remarks for his testimony before the House Financial Services Committee tomorrow (with U.S. Treasury Secretary Steven Mnuchin).
While noting the push to lift restrictions on commercial activity, Powell critically expressed the need to contain the virus, noting that “a full recovery is unlikely until people are confident that it is safe to reengage in a broad range of activities.” | |
Bonds, Stocks, Dollar, & Gold All Bid As COVID Chaos ContinuesBonds, Stocks, Dollar, & Gold All Bid As COVID Chaos Continues Tyler Durden Mon, 06/29/2020 – 16:00 Stocks up, Bonds up, Dollar up, Gold up, Bitcoin up… COVID-cases Up… Increasingly fear-stoking headlines over the weekend on the virus (and more and more cost-cutting corporates quitting Facebook ads) prompted a weak open on Sunday night for US futures and while Nasdaq trod water around unch until the open, Small Caps were mysteriously bid. The open sparked selling which was immediately bid with Small Caps again massively outperforming… (nasdaq lagged the rest on the day). Kudlow excited everyone at the close with “v-shaped recovery” comments but the Dow did well thanks to BA and AAPL (+200 points between them)… | |
Ron Paul: The Media Is Lying About The “Second Wave”Ron Paul: The Media Is Lying About The “Second Wave” Tyler Durden Mon, 06/29/2020 – 15:45 Authored by Ron Paul via The Ron Paul Institute for Peace & Prosperity, For months, the Washington Post and the rest of the mainstream media kept a morbid Covid-19 œdeath count on their front pages and at the top of their news broadcasts. The coronavirus outbreak was all about the number of dead. The narrative was intended to boost governors like Cuomo in New York and Whitmer in Michigan, who turned their states authoritarian under the false notion that destroying people’s jobs, freedom, and lives would somehow keep a virus from doing what viruses always do: spread through a population until eventually losing strength and dying out. The œdeath count was always the headline. | |
“He Just Floored It!” Detroit Police SUV Filmed Plowing Through Protesters“He Just Floored It!” Detroit Police SUV Filmed Plowing Through Protesters Tyler Durden Mon, 06/29/2020 – 15:26 A viral video from a chaotic standoff between police and Black Lives Matter protesters in a southwest Detroit neighborhood is stirring outrage among activists, though in more normal times it should be clear to anyone that things won’t end well if one jumps on the hood of a moving police vehicle. That’s precisely what happened Sunday night: a crowd is seen attempting to block a Detroit police SUV at an intersection. As the group of “peaceful” protesters surrounds the vehicle while banging on it, multiple individuals are seen placing themselves on the hood in order to stop its movement. The SUV’s police lights are flashing, perhaps as a warning of what’s about to happen. Instead of retreating, the police officer guns the accelerator, sending multiple protesters flying through the air.
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Coronavirus: UK hardest hit by virus among leading G7 nationsAnalysis by the BBC shows Covid-19 deaths and excess deaths have been proportionately worse in the UK. | |
Coronavirus: Mandatory MOTs to be reintroduced from AugustVehicle owners have been able to delay the test for six months during lockdown. | |
Cirque du Soleil cuts 3,500 jobs to avoid bankruptcyThe group says the coronavirus pandemic has forced it to cancel shows and lay off its artists. | |
There could be more to Trump’s visa ban than meets the eyeThere could be more to Trump’s visa ban than meets the eyeThere are two sides to Trump’s order: an obvious political one, and a potentially deeper regulatory problem. | |
IT firms are rethinking their China strategyIT firms are rethinking their China strategyEconomic stress and unstable geopolitical relations are impacting IT firms’ already struggling units. | |
More relaxations in govt’s ‘Unlock 2’ planMore relaxations in govt’s ‘Unlock 2’ planAs per the new guidelines, the night curfew has been relaxed further and shall be in force from 10 pm to 5 am. | |
Coronavirus update: Global COVID-19 case tally tops 10 million and Florida, South Carolina and Nevada set daily recordsThe number of confirmed cases of the coronavirus illness COVID-19 topped 10 million around the world and the death toll surpassed a half million over the weekend, and Florida, South Carolina and Nevada all recorded their highest number of new infections in a single day. | |
Kim Kardashian’s KKW Beauty gets a $1 billion valuation, but that’s 15% less then Kylie Jenner’s beauty brandThe difference between being one of the most recognized people in the world and being one of the most admired is worth about $180 million dollars, according to global beauty company Coty. Inc. | |
Futures Movers: Oil prices end higher as hope for increased demand overshadows coronavirus-induced uncertaintyOil futures finish higher Monday, buoyed by some recovery in energy demand, even with that recovery threatened by the possibility of another round of shutdowns as global cases of COVID-19 top 10 million. |
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