Written by Gary
Leading Economic Index Somewhat Improves – Business Conditions Still Point To A Weak Economic Outlook (SPY -0.01% flat). The number of confirmed cases of the coronavirus illness COVID-19 worldwide climbed above 15 million.
Here is the current market situation from CNN Money | |
 | North and South American markets are lower today with shares in Brazil off the most. The Bovespa is down 0.33% while Mexico’s IPC is off 0.33% and U.S.’s S&P 500 is lower by 0.03%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| AMC pushes reopening to August as Hollywood continues to shift movie slateAMC will wait until August to reopen its movie theaters in the U.S., the company said Thursday. |
| Key Boeing supplier braces for significantly fewer 737 Max deliveries through 2022Spirit Aerosystems spoke with lenders about loosening the terms of its debt to prepare for fewer-than-expected Boeing deliveries through 2022. |
| Southwest posts $915 million loss, warns travel demand will remain weak without coronavirus vaccineSouthwest Airlines lost $915 million in the second quarter and warned that travel demand will be “depressed” until there’s a coronavirus vaccine or treatment. |
| Retail workers slammed by job cuts, pushed into new roles as coronavirus shakes their industryRoss Allen-McCabe worked for six years at J.C. Penney. Now, he’s out of a job after the department store filed for bankruptcy and has so far let go hundreds at its headquarters in Plano, Texas. |
| With no fans at baseball games, the best seats in the house are at these luxury rentals near stadiumsLuxury rentals near baseball stadiums are primed to take advantage of the views they offer to fans who won’t be permitted to attend games due to the coronavirus. |
| Cramer says Tesla CEO Elon Musk is a ‘big thinker’ who makes us look like ‘Lilliputians’“He’s got this whole thing going on with solar and with energy that we don’t talk about enough,” CNBC’s Jim Cramer said. |
| Stay-at-home trend is a ‘permanent shift,’ and one stock can keep winning out, traders sayStocks including Wayfair, Best Buy, Home Depot and Peloton have been benefiting from consumers increasingly staying home, and the trend is set to continue, says Mark Tepper, president and CEO of Strategic Wealth Partners. |
| Watch live: The World Health Organization holds a press briefing on the coronavirus pandemicWHO is holding a briefing on the Covid-19 pandemic. |
| Chipotle digital sales triple in the second quarter, but can’t offset dining room closuresChipotle Mexican Grill’s operating margins fell 8.7% during the second quarter. |
| California coronavirus cases surpass New York, Cuomo urges federal mask mandateThe coronavirus has infected more than 14.98 million people globally as of Wednesday, killing at least 617,415 people. |
| American Airlines posts $2.1 billion net loss in second quarterAmerican Airlines swings to a quarterly loss as the coronavirus depressed demand, but it slashed its cash burn. |
| 5 things to know before the stock market opens ThursdayDow futures cut their gains and turned lower Thursday after blue chips rose for a third session in a row. |
| Congress Debates Next Round Of Direct Stimulus ChecksCongress Debates Next Round Of Direct Stimulus Checks Tyler Durden Thu, 07/23/2020 – 11:25 As negotiations continue in Washington DC over the next coronavirus relief package, Republicans and Democrats have shifted their focus to the next round of direct stimulus payments. |
| High Frequency Indicators Confirm US Economy Stalled In Late JuneHigh Frequency Indicators Confirm US Economy Stalled In Late June Tyler Durden Thu, 07/23/2020 – 11:07 By Christophe Barraud U.S. high frequency indicators have continued to flash red since late June, suggesting that another round of fiscal stimulus is more than necessary to avoid a downward surprise in 3Q. Yesterday, Bloomberg highlighted that the Census Bureau’s weekly Household Pulse Survey showed that œThe number of employed Americans declined by about 6.7 million from mid-June through mid-July, including a 4.1 million plunge from the first to the second week of July .
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| Millennials Flood Into Precious Metals: Is Gold The Next TSLA?Millennials Flood Into Precious Metals: Is Gold The Next TSLA? Tyler Durden Thu, 07/23/2020 – 10:44 As precious metals accelerated higher in the last few days, we joked (kinda) on Twitter that the surge in momentum would soon become a magnet for the new trading gurus manning their desks at home - whether in China or Chinatown - and send it to new all time highs.Â
One day later, it’s happening as Robinhood users flood into the gold and silver ETFs. For SLV, the number of RH users holding the ETF has surged from around 15,000 to 20,000 in the last few days… |
| 9-Year-Old Girl Becomes Florida’s Youngest COVID-19 Victim As State Suffers Record Deaths: Live Updates9-Year-Old Girl Becomes Florida’s Youngest COVID-19 Victim As State Suffers Record Deaths: Live Updates Tyler Durden Thu, 07/23/2020 – 10:35 Summary: All AMC theaters will stay closed until August Cuomo holds press briefing at 1130ET Florida reports more than 10k cases, record 173 deaths 9-year-old dies in Florida DeSantis says teachers eager to get back to classroom Dr. Fauci says reopening schools should be a “goal” Iran suffers record daily deaths Australia suffers 2nd highest daily total in Victoria Barcelona hear of latest Spanish outbreak India reports record jump in new cases South Africa now has fifth biggest outbreak * * * Update (1107ET): AMC will wait until August to reopen its movie theaters in the US., the company said Thursday. The largest theater chain in the US had planned to reopen in July, a few weeks before the release of Warner Bros. œTenet” and Disney’s œMulan. However, after Tenet was delayed for a third time, the chain decided to change its strategy. Other big movie theater chains could also delay their July openings. AMC struck a deal earlier this month to help the company – American’s largest theater chain – remain solvent until 2021. … |
| Dyson cuts 900 jobs amid coronavirus impactThe company behind the first bag-less vacuum cleaner said 600 of the cuts would be in the UK. |
| Coronavirus: New guidance on face masks and coverings released for EnglandCustomers in enclosed spaces such as shops, banks and post offices will have to wear a covering from Friday. |
| Guitar sales rise as UK gets into lockdown grooveAs more people learn guitar amid lockdown, the UK’s biggest online seller of instruments sees sales surge. |
| Free pass for Pak tax cheats if they build homesFree pass for Pak tax cheats if they build homesWith revenue collections slowing amid the coronavirus pandemic, Khan is trying to tap illegal wealth that’s estimated to be as large as 56 per cent of the $278 billion economy. |
| Pak approach in Jadhav case farcical: IndiaPak approach in Jadhav case farcical: IndiaMEA Spokesperson Anurag Srivastava said Pakistan adopted a “farcical approach” in handling Kulbhushan Jadhav’s case, adding India is exploring available options in the matter. Pakistan had earlier this month said July 20 is the last date of filing a review petition by Jadhav against the death sentence handed down to him by a Pakistani military court. |
| Financial sector headed for consolidation: KotakFinancial sector headed for consolidation: KotakSpeaking at a virtual interaction, he emphasised that the financial sector must have capital risk management expertise and an ability to govern institutions on a sustainable basis. He said that consolidation will happen but what shape it takes really depends on the nature of this pandemic situation and depth of this crisis which will determine the speed of change. |
| June 2020 Leading Economic Index Somewhat Improves – Business Conditions Still Point To A Weak Economic OutlookWritten by Steven Hansen The Conference Board Leading Economic Index (LEI) for the U.S. increased 2.0 percent in June to 102.0 (2016=100), following a 3.2 percent increase in May and a 6.3 percent decrease in April.. – and the authors say “Together with a resurgence of new COVID-19 cases across much of the nation, the LEI suggests that the US economy will remain in recession territory in the near term”.
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| The Tell: Here are 5 reasons why the pandemic hasn’t crashed the U.S. housing marketHome sales in the U.S. are picking up again, despite record prices and the loss of some 22 million jobs from the coronavirus pandemic, which remains an unbridled threat in California and many other states. What gives? |
| Coronavirus update: Global COVID-19 cases top 15 million as U.S. edges closer to 4 million, and California has more cases than New YorkThe number of confirmed cases of the coronavirus illness COVID-19 worldwide climbed above 15 million on Thursday and the U.S. case tally edged closer to 4 million, as California’s case tally rose above early U.S. hot spot New York following a surge in new infections in recent weeks. |
| Earnings Watch: Intel has weathered coronavirus because of data center and PC sales, but only one of those is expected to growIntel Corp. is expected to see strong sales growth in their data center business for the rest of the year as companies continue their migration of assets to the cloud but PC sales may reach a saturation point. |
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