Written by Gary
Florida reported 15,299 confirmed coronavirus cases on Sunday (SPY +1.4%).
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 1.49% while U.S.’s S&P 500 is up 1.36% and Mexico’s IPC is up 0.29%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| Lacking passengers, regional airline Mesa Air to start flying DHL cargoMesa Air to start flying cargo for DHL as the regional airline lacks passengers because of the coronavirus pandemic. |
| Fashion influencer Arielle Charnas relaunches Something Navy line following run at NordstromArielle Charnas, the mega fashion influencer with 1.3 million followers on Instagram, is relaunching the Something Navy fashion line ” this time on her own. |
| EV start-up Fisker to go public through merger with Apollo-backed firm at combined value of $2.9 billionThe proposed deal is anticipated to provide Fisker the necessary funding to bring its first product, the Fisker Ocean, to production in late 2022. |
| U.S. students get sicker from the coronavirus than kids in other countries, are at ‘higher risk,’ Dr. Scott Gottlieb says“We have more co-morbid illness among young people in this country ” more asthma, more obesity, more diabetes ” so there is going to be higher risk with our school age population,” former FDA chief Dr. Scott Gottlieb said. |
| PepsiCo revenue falls 3% as pandemic hits beverage sales but boosts snacks businessPepsiCo reported that quarterly revenue fell after fewer consumers bought its drinks at restaurants and convenience stores during the coronavirus pandemic. |
| Watch live: New York Gov. Andrew Cuomo holds a press conference on the coronavirus outbreakLast Wednesday, Cuomo blasted President Donald Trump for pressuring state officials to reopen schools in the fall. |
| Watch live: The World Health Organization holds a press briefing on the coronavirus pandemicWHO is holding a briefing on the Covid-19 pandemic. |
| Florida reports more than 15,000 new coronavirus cases, shattering recordFlorida reported 15,299 confirmed coronavirus cases in a single day on Sunday, the largest surge in infections since the start of the pandemic that brings the state’s total number of cases to 269,811. |
| White House seeks to discredit Fauci amid coronavirus surgeAs coronavirus surges nationwide, the White House aims to discredit health advisor Dr. Anthony Fauci. The infectious disease expert said, in January, the coronavirus was “not a major threat” and “not driven by asymptomatic carriers.” |
| ‘We’ve got a responsibility’ ” Disney Parks Chairman Josh D’Amaro discusses reopening Disney World in Florida during pandemicOn Saturday, Disney began its phased reopening of its theme parks in Florida in the midst of a growing number of Covid-19 cases within the state. |
| Pfizer, BioNTech’s coronavirus vaccines get FDA’s ‘fast track’ statusTwo experimental coronavirus vaccines by German biotech firm BioNTech and U.S. pharmaceutical giant Pfizer have received the U.S. Food and Drug Administration’s ‘fast track’ designation, the companies said on Monday. |
| Wayfair Hit With A Conspiracy TheoryWayfair Hit With A Conspiracy Theory Tyler Durden Mon, 07/13/2020 – 12:27 Via Market Crumbs, Most people enjoy a good conspiracy theory. The way 2020 has been going so far, the most far-fetched news wouldn’t surprise a lot of people at this point. |
| BLM Supporters Ambush, Murder Young White Mother For Saying ‘All Lives Matter’BLM Supporters Ambush, Murder Young White Mother For Saying ‘All Lives Matter’ Tyler Durden Mon, 07/13/2020 – 12:10 The mother of a 3-year-old boy was shot dead in an ambush over the 4th of July weekend after telling a group of Black Lives Matter supporters that ‘all lives matter.’ |
| Goldman Says Investors Have Just One Question Every Morning: “Do I Want To Fight Or Follow The Fed Today?”Goldman Says Investors Have Just One Question Every Morning: “Do I Want To Fight Or Follow The Fed Today?” Tyler Durden Mon, 07/13/2020 – 11:50 Authored by Tony Pasquariello, Goldman’s global head of Hedge Fund sales 1. While volatility in the bond market remains suppressed, the global equity complex continues to feature pockets of high velocity (incidentally, I don’t think those statements are mutually exclusive). The story of the week was the breakout in Chinese equities, which have added $1tr of market cap since the end of June. One can argue that elements of retail fever have spread into the region — the GS basket of Asia retail favorites, GSSZRFAV, is now 77% off the March lows — with seemingly clear (if tacit) support from the government. Note that A-share volumes haven’t been this high since the equity boom-then-bust cycle of 2015 — an experience one should remember clearly — while also noting that margin balances are considerably lower today. I tend to come out where GIR’s Kinger Lau does: +15% over the next 1-3 months, but flat out one year ( |
| NYC Reports No New COVID-19 Deaths For 24 Hours In Major New Milestone: Live UpdatesNYC Reports No New COVID-19 Deaths For 24 Hours In Major New Milestone: Live Updates Tyler Durden Mon, 07/13/2020 – 11:33 Summary: Cuomo says schools won’t reopen until it’s safe Arizona sees 1.1% daily jump in new cases NYC reports no COVID-19 deaths in 24 hours for first time Florida reports another 12k+ new cases Slowing Sun Belt testing speeds hobbles Sun Belt outbreak White House reportedly cancels Dr. Fauci media appearances Hong Kong Disneyland to close July 15 Hong Kong closes restaurants, gyms US approves accelerated trials for 2 vax candidates Global COVID-19 cases top 13 million US deaths climb by fewer than 500 cases South Korea confirmed 62 new cases China warns on travel to Australia Hong Kong reported another 52 new cases * * *
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| Johnnie Walker whisky to be sold in paper bottlesDrinks giant Diageo, which owns the brand, will trial the environmentally friendly bottles in 2021. |
| Coronavirus: Disney heir and Ben & Jerry’s call for higher taxesSome of the world’s richest people want governments to raise taxes on them to help pay for Covid-19. |
| Making shoppers wear masks could ‘trigger abuse’, warn unionsIf shoppers are forced to wear masks, staff should not have to police the policy, unions say. |
| Here’s what Airtel needs to do to touch $100 billion valuationHere’s what Airtel needs to do to touch $100 billion valuationFor the fiscal ended March 2020, Bharti Airtel’s consolidated India debt stood at Rs 1.1 lakh crore whereas, Jio’s parent Reliance Industries declared itself net debt free last month |
| The fate of economy now hinges on a vaccineThe fate of economy now hinges on a vaccineMultiple efforts to find a vaccine against the dreaded virus are on both globally as well domestically, but no timelines have been announced yet. Many analysts are expecting the Indian economy to contract by 5 per cent in FY21 as a result of the nationwide lockdowns, with some also estimating a contraction of up to 7.2 per cent in the GDP. |
| HDFC Bank has a new $16-bn headacheHDFC Bank has a new $16-bn headacheIndia’s most valuable lender by market capitalization decided against proceeding with an earlier proposal to extend the employment of Ashok Khanna, an 18-year veteran at the bank, after the investigation was completed, said sources. The vehicle financing unit he headed had outstanding loans of more than Rs 1.2 lakh crore ($16 billion) as of March 31. |
| Coronavirus update: Global case tally edges toward 13 million, and Florida trounces one-day case record set by California last weekThe number of confirmed cases of the coronavirus illness COVID-19 worldwide edged closer to 13 million on Monday, a day after the World Health Organization reported another one-day case record above 230,000, and Florida set a U.S. record that trounced the previous one set by California last week. |
| Key Words: Tax us: Abigail Disney among 83 millionaires begging for higher taxes for coronavirus relief‘Raise taxes on people like us. Immediately. Substantially. Permanently.’ |
| Key Words: Trump shares Chuck Woolery tweet that says ‘everyone is lying’ about the coronavirusWoolery, who hosted ‘Love Connection’ and ‘Wheel of Fortune,’ speculated COVID-19 coverage is meant to influence the election |
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