07Jul2020 Pre-Market Commentary: Wall Street Futures Fall As Europe Slides, Chinese Media Talks Back Rally, DOW Down 255 Points, WTI Crude At 40.36, Gold Slides To 1777

Here is the current market situation from CNN Money

European markets are sharply lower today with shares in London off the most. The FTSE 100 is down 1.45% while Germany’s DAX is off 1.26% and France’s CAC 40 is lower by 1.06%.

Dr. Anthony Fauci says the average age of U.S. coronavirus patients has dropped by 15 years as Sun Belt states gets hit

The average age of new coronavirus patients has dropped by roughly 15 years compared with only a few months ago, White House health advisor Dr. Anthony Fauci said.

Constant openings and closings may be ‘death knell’ for restaurants, says Junior’s Cheesecake owner

“When people are buying up food, then you throw out $100,000 worth of food, it’s the end of you,” Junior’s Cheesecake owner Alan Rosen told CNBC.

Shoppers across the country are retreating again as coronavirus cases surge

Over the past two weeks retail traffic declines have accelerated, according to data from ShopperTrak, as Covid-19 cases surge nationwide, with hot spots in states including Florida and Texas.

Here are some of the restaurant chains that received millions in government payroll loans

P.F. Chang’s, Ruby Tuesday, T.G.I. Friday’s and Five Guys are among the companies that received millions in PPP loans.

Coronavirus: Australia closes interstate border; California asks indoor businesses to close

The coronavirus has infected more than 11.63 million people around the world as of Monday, killing at least 538,395 people.

Op-ed: How the widening wealth gap became color-blind

Financial advisor Ivory Johnson, founder of Delancey Wealth Management and a member of the CNBC FA Council, writes this was all bound to happen sooner or later, and that any good thief will steal from anyone he can get his hands on, if he can get away with it time and time again.

Cuts to basic services loom as coronavirus ravages local economies and sends states into fiscal crisis

Every state now faces a budget gap, with estimates that revenue shortfalls could total more $200 billion through this fiscal year. States are weighing cuts in basic services including education, health care and public safety.

Among companies getting millions in U.S. small business loans: South Korea’s biggest airline

The Seoul-based airline has about 500 employees in the U.S. and says it is using most of the funds to pay staff.

5 things to know before the stock market opens Tuesday

Dow futures drop Tuesday, with high-flying tech stocks pausing and so-called reopening stocks declining.

Brazil’s Bolsonaro tested for coronavirus after feeling unwell, reporting a high temperature

Brazilian media said Bolsonaro has canceled all his official activities until he gets the results of his test for Covid-19.

De Niro-backed Nobu restaurants took more than a dozen PPP loans

Restaurants were among the biggest recipients of the Paycheck Protection Program, a key component of the government’s response to the economic impact of the coronavirus pandemic.

Dr. Fauci says coronavirus immunity may be ‘finite,’ duration remains uncertain

Fauci has previously said there’s a chance a coronavirus vaccine might not provide long-term immunity.

Half of Nevada’s businesses failed to follow rules on masks, state investigators say

Nevada Gov. Steve Sisolak is threatening swift, decisive action against rule-flouters. Casinos are cracking down internally, warning employees will be fired for failing to follow regulations.

Melbourne Enters 6-Week Lockdown As COVID-19 Cases Surge; Iran Sees Record Daily Deaths: Live Updates

Melbourne Enters 6-Week Lockdown As COVID-19 Cases Surge; Iran Sees Record Daily Deaths: Live Updates Tyler Durden Tue, 07/07/2020 – 08:31

As health officials in Beijing reported 8 new foreign cases of the virus and 15 asymptomatic cases on Tuesday afternoon, Australian health officials and officials in the country’s second-most-populous state of Victoria announced that it would re-enter ‘Phase 3’ lockdown, joining a growing list of major cities – Lisbon, Madrid, Beijing – that have reimposed lockdown measures amid a resurgence in COVID-19 cases.

Just yesterday, Victoria (the home of Melbourne and the surrounding suburbs) and neighboring New South Wales (home to Sydney and the country’s most populous state) announced plans to close borders to hard-hit Victoria, the first time in a century that these borders have been closed.

Cases have been climbing in Australia amid a new outbreak centered in Victoria that officials fear might spread across the country, now that social distancing measures have been largely unwound. Australia reported about 200 new cases on Tuesday, the highest daily total since late March.

$1.2 Million Bail For Man Who Struck Protesters Blocking Highway

$1.2 Million Bail For Man Who Struck Protesters Blocking Highway Tyler Durden Tue, 07/07/2020 – 08:31

Authored by Zachary Stieber via The Epoch Times,

The man who struck two protesters blocking a highway in Seattle saw his bail set at $1.2 million on Monday.

Operation Warp Speed Awards Novavax $1.6 Billion For COVID VaccineÂ

Operation Warp Speed Awards Novavax $1.6 Billion For COVID Vaccine Tyler Durden Tue, 07/07/2020 – 08:16

With US equity futures under pressure on Tuesday morning – it’s not surprising whatsoever that hopium-inspiring vaccine headlines are hitting the tape.Â

Novavax was awarded $1.6 Billion in funding via Operation Warp Speed to support “large-scale manufacturing of NVX-COV2373.”

NOVAVAX ANNOUNCES $1.6 BILLION FUNDING FROM OPERATION WARP SPEED

Gaithersburg, Maryland-based Novavax said in a statement that initial production of 100 million doses would start in late 2020. The aim is to have millions of doses ready by January 2021.Â

NOVAVAXÂ – OWS AWARD FUNDS LARGE-SCALE MANUFACTURING OF NVX-COV2373, INCLUDING PRODUCTION OF 100 MILLION DOSES STARTING IN LATE 2020

Novavax shares jumped as much as 35% in premarket Tuesday following the news.

Futures Fall As Europe Slides, Chinese Media Talks Back Rally

Futures Fall As Europe Slides, Chinese Media Talks Back Rally Tyler Durden Tue, 07/07/2020 – 08:01

One day after a torrid ramp in Chinese stocks sent US futures surging and the Nasdaq hit a fresh all time high, on Tuesday Emini index futures slipped following the benchmark S&P 500 and Nasdaq’s five-day rally, as European stocks slumped after officials warned the economy will take longer to recover and Germany reported weaker-than-expected industrial data, the rally in China fizzled after officials talked back their previous urges to buy stocks, and investors weighed the risks to the conomy from tens of thousands of new coronavirus cases nationwide.

Sunak to unveil £2bn home insulation scheme

The chancellor will announce some households could get grants up to £10,000 for energy-saving projects.

How would a stamp duty holiday work?

The government is likely to announce a stamp duty holiday to help boost the property market.

Bike sales surge helps Halfords through lockdown

The retailer said sales of bicycles leapt during lockdown, but sales of car parts saw big falls.

Swaminathan Aiyar on why India can’t cut China out wholly

Swaminathan Aiyar on why India can’t cut China out whollyAiyar insists that India and China are inseparable in many areas of trade and economics.

The rise and rise of Rakesh Jhunjhunwala

The rise and rise of Rakesh JhunjhunwalaThe equity investor with Midas touch, Rakesh Jhunjhunwala, turned 60 on July 5.

Kerala’s remittance party is over for good

Kerala’s remittance party is over for goodFor economies that depend on this foreign income, the outlook for 2020 is bleak.

Investors are hungry for income. Here are the 20 investment trusts they have been eyeing up this year

Income-starved investors in the U.K. are turning to investment trusts as COVID-19 hits company dividends

Key Words: Trump trade adviser Navarro blasts Beijing for ‘spawning’ the coronavirus and then ‘seeding and spreading’ the disease

White House trade adviser Peter Navarro in a Friday afternoon television interview accused China of having œspawned and œhid the coronavirus that causes the disease COVID-19 and then sending œhundreds of thousands of Chinese nationals to œseed and spread the disease œto the United States and Italy and everywhere in between.

Deep Dive: 10 stock picks from Jefferies for investors who want to be ‘trendy’ as the economy recovers

U.S. industrial activity perked up in June ” three sectors tend to outperform when that happens.