Written by Gary
Markets rise higher today (SPY +0.3%). Year-over-Year Inflation Rate Grows to 0.6%. In focus are the mounting tensions between the U.S. and China.
Here is the current market situation from CNN Money | |
 | North and South American markets are mixed today. The Bovespa is up 1.09% while the S&P 500 gains 0.47%. The IPC is off 0.87%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| Boeing 737 Max cancellations climb again in dismal first half of the yearCustomers canceled another 60 of the company’s beleaguered 737 Max planes in June, capping a bleak first half of the year for the manufacturer. |
| Tulane University threatens expulsion for partygoers as schools struggle to keep students safe from coronavirusAs Tulane University prepares to bring students back to campus in the fall amid the coronavirus pandemic, Dean of Students Erica Woodley has a message: party or be in large gatherings, and you’re in trouble. |
| Qantas is set to cancel nearly all its international flights until March 2021 as pandemic batters air travelThe Australian carrier announced in June that it was retiring its six Boeing 747 planes immediately, six months before initially planned, and slashing 20% of its staff. |
| A squirrel has tested positive for the bubonic plague in ColoradoA squirrel in Colorado has tested positive for the bubonic plague, also known as the “Black Death,” according to local health authorities. |
| Surge in U.S. coronavirus cases causes testing delays across the nation as labs scramble to keep upThe turnaround time for Covid-19 tests taking days to a week or longer for many patients, two of the country’s biggest lab diagnostics companies said Monday. |
| Top infectious disease experts lend support to Fauci after White House attacksThe Trump administration has increasingly disregarded advice from its top scientific advisors on Covid-19 with Trump himself calling the CDC’s guidelines on school reopenings too cumbersome and expensive. |
| Stocks making the biggest moves midday: Wells Fargo, Netflix, Ford, Moderna and moreThese are the stocks posting the largest moves in midday trading. |
| Jeffrey Epstein’s alleged sex crimes accomplice Ghislaine Maxwell faces judge’s bail decisionLawyers for Maxwell proposed she be released on $5 million bond. Prosecutors want her detained without bail, calling her an extreme flight risk. |
| Saudi Arabia bolsters its national stock exchange, the Tadawul, with major derivatives pushThe Kingdom hopes it will attract domestic and international investors, even as the IMF predicts Saudi Arabia’s economic growth will slump 6.8% this year due to the coronavirus pandemic and weak oil prices. |
| Schools have low coronavirus infection rate, German study findsThe results showed that out of 2,045 blood samples collected from students and teachers from across 13 secondary schools in the region only 12 samples were found to contain antibodies against Covid-19. |
| Coronavirus live updates: Pandemic roils corporate earnings; 3M developing rapid antigen testThe coronavirus has infected more than 13.1 million people across the country as of Tuesday, killing at least 573,200. people. |
| Delta cuts summer flying as demand stalls due to coronavirus, posts $5.7 billion quarterly lossDelta deepened its losses because of the coronavirus pandemic. |
| Extending Production Cuts Would Be “Suicidal” For OPECExtending Production Cuts Would Be “Suicidal” For OPEC Tyler Durden Tue, 07/14/2020 – 12:25 Authored by Nick Cunningham via OilPrice.com, OPEC+ will hold a committee meeting this week to assess the status of the oil market and decide on its next steps. For now, the group appears ready to begin unwinding the extraordinary production cuts, which could test the recent price rally. The historic cuts of 9.7 million barrels per day (mb/d) that OPEC+ implemented after the pandemic-related crash was always intended to be temporary. Initially, the cuts were set to expire at the end of June and begin tapering at the start of July; the group agreed to extend that first phase by a month. |
| China Blasts US As “Troublemaker & Disruptor Of Peace” After Pompeo’s “Maritime Empire” AccusationChina Blasts US As “Troublemaker & Disruptor Of Peace” After Pompeo’s “Maritime Empire” Accusation Tyler Durden Tue, 07/14/2020 – 12:05 On Monday Secretary of State Mike Pompeo issued a lengthy and provocative statement which among other things charged China with seeking to build a “maritime empire” based on its expansive claims to international waters in the South China Sea. “The world will not allow Beijing to treat the South China Sea as its maritime empire,” Pompeo said. As we detailed yesterday, in a reversal of the Obama-era policy of appeasement, the Trump administration now says China’s continued claims of supremacy over the area poses “the single greatest threat to freedom of the seas in modern history.” Beijing has bit back Tuesday, blasting the United States as the only true “troublemaker and disruptor of peace and stability in the region,” according to new comments from China’s Foreign Ministry Spokesperson Zhao Lijian. |
| Solomon: Joe Biden’s Energy Adviser Aided Kremlin Nuclear AgendaSolomon: Joe Biden’s Energy Adviser Aided Kremlin Nuclear Agenda Tyler Durden Tue, 07/14/2020 – 11:44 Exclusive excerpts from ‘Fallout: Nuclear Bribes, Russian Spies and the Washington Lies that Enriched the Clinton and Biden Dynasties’ by John Solomon and Seamus Bruner. These excerpts come from chapter 9, ‘The Ukraine Boomerang: Obama’s Russia Failures Unleash New Chaos and Cronyism in Ukraine.’ |
| NY Adds 4 States To Quarantine Advisory List As Philly Bans All Large Public Events Until 2021: Live UpdatesNY Adds 4 States To Quarantine Advisory List As Philly Bans All Large Public Events Until 2021: Live Updates Tyler Durden Tue, 07/14/2020 – 11:33 Summary: Arizona sees big jump with 4,273 new cases North Carolina sees record hospitalized Alabama reports record rise in deaths Moderna releases latest clinical trial update TMC releases latest Houston numbers Philly bars all public events until Feb 2021 Florida positivity rate jumps to 15%+ Florida reports biggest jump in deaths India places Bangalore back on lockdown US daily cases below 60k Global daily cases below 200k Hong Kong imposes new restrictions France makes mask wearing mandatory in public Australia cases top 10k. Iran closes mosques, schools WHO warns: “there will be no return to normal” * * * Update (1230ET): North Carolina caught the attention of COVID-19 trackers as hospitalizations climbed to a record high. |
| Coronavirus: Virgin Atlantic finalises £1.2bn rescue dealThe package includes support from its main shareholder, Virgin Group, and loans from outside investors. |
| ‘If it saves a life, wearing a mask is worth it’The BBC speaks to people about whether they will be comfortable wearing face masks in shops. |
| Oatly raises $200m from celebrity backers including Oprah and Jay-ZSwedish company Oatly, which has popularised oat milk, raises $200m to expand the business. |
| Mukesh Ambani is finally breaking free from oil-price fortunesMukesh Ambani is finally breaking free from oil-price fortunesThe stock has more than doubled since a low in March to a record as Jio Platforms Ltd., Reliance’s digital services business unit, netted almost $16 billion in a fundraising blitz. |
| Fuel tax hikes are derailing recoveryFuel tax hikes are derailing recoveryProvisional fuel sales in June show that while India’s overall consumption of petroleum products was 8% lower than a year earlier, diesel and gasoline consumption were down 15% and 14%, respectively. |
| A Google cheque for Mukesh Ambani?A Google cheque for Mukesh Ambani?Google has pledged $10 billion in India over the next five to seven years with the aim of consolidating its position in the digital ecosystem of the world’s fifth-largest economy that is emerging as a battleground for global internet giants. |
| June 2020 CPI: Year-over-Year Inflation Rate Grows to 0.6%Written by Steven Hansen According to the BLS, the Consumer Price Index (CPI-U) year-over-year inflation rate was 0.6 % year-over-year (up from the reported 0,1 % last month). The year-over-year core inflation (excludes energy and food) rate was unchanged at 1.2 %.
|
| Election: Biden to call for $2 trillion in clean-energy spending and zero power-plant emissions by 2035Joe Biden will propose on Tuesday a plan to eliminate carbon pollution from power plants by 2035, while calling for spending $2 trillion over four years on clean energy projects. |
| The Margin: Queen Elizabeth II sells gin made from leaves found at Buckingham Palace after tourist revenues crashRoyal Collection Trust, a department of the Royal Household, launched a premium small-batch London dry gin for sale in its shops on Monday, infused with bay and mulberry leaves found in her back garden. |
| Futures Movers: Oil edges up as traders weigh uncertainty over next move for OPEC+ and a forecast for a weekly U.S. supply declineOil futures give up earlier losses to turn a bit higher on Tuesday, as traders weigh uncertainty over the next move for OPEC+ on production levels and a forecast for weekly decline in U.S. supplies. Mounting tensions between the U.S. and China, as well as a continued rise in COVID-19 infections in the U.S. and elsewhere are also in focus. |
Earnings Summary for Today
leading Stock Positions
Current Commodity Prices
Commodities are powered by Investing.com
Current Currency Crosses
The Forex Quotes are powered by Investing.com.
To contact me with questions, comments or constructive criticism is always encouraged and appreciated:
