24Jul2020 Pre-Market Commentary: Tech Is Under Pressure Today With Nasdaq Futures Down 1.1%, DOW Down 75 Points, US Dollar Weaker At 94.65, Gold Climbs To 1894

Here is the current market situation from CNN Money

European markets are sharply lower today with shares in Germany off the most. The DAX is down 1.56% while France’s CAC 40 is off 1.16% and London’s FTSE 100 is lower by 1.13%.

Walmart to open at least six more health clinics in greater Atlanta area by end of 2020 as part of bigger health-care push

Walmart confirmed to CNBC that it will open at least six additional Walmart Health clinics in the greater Atlanta area by the end of 2020.

The coronavirus threatens auto industry recovery as cases rise and more employees miss work

Concerns are growing that U.S. automakers won’t be able to keep factories running amid high absenteeism and increasing coronavirus cases.

Airlines lose billions as demand ‘stalled,’ CEOs warn recovery hinges on a coronavirus vaccine

Airlines are losing billions and expect a sluggish return of demand barring a vaccine or effective coronavirus treatment.

AMC pushes reopening to August as Hollywood continues to shift movie slate

AMC will wait until August to reopen its movie theaters in the U.S., the company said Thursday.

Op-ed: How to make your business public health ready in a coronavirus world

The ongoing pandemic has laid bare to the business community that a healthy enterprise depends on having healthy workers and healthy customers.

5 things to know before the stock market opens Friday

U.S. stock futures pointed to a lower open Friday as high-flying tech stocks continued to sell off.

Coronavirus live updates: WTO sees ‘substantial’ trade impact; U.S. cases jump by more than 68,000

The coronavirus has infected more than 15.5 million people around the world as of Friday, killing at least 633,656 people.

Low-cost European airlines one of the best opportunities in fixed income, strategist says

The debt of low-cost European airlines is one of the most attractive opportunities in fixed income at present, according to AXA Investment Managers Senior Portfolio Manager Nicolas Trindade.

UK’s Boris Johnson calls anti-vaxxers ‘nuts’

His comments come as pharmaceutical and biotech companies around the world embark on early stage testing for potential coronavirus vaccines.

Italy’s winemakers are reeling from the coronavirus impact, but hope demand can bounce back

Winemakers are expected to be hit hard, especially in Italy which was the epicenter of the outbreak before it spread throughout the European continent.

U.N. director warns of a ‘shadow pandemic’ of violence against women during lockdowns

According to figures from the U.N., in the 12 months before the crisis, 243 million women and girls aged between 15 and 49 had experienced physical or sexual violence by a partner,

‘I don’t know exactly what the secret is’: Zoom’s marketing chief on the company’s rise through the pandemic

Zoom’s chief marketing officer Janine Pelosi said the company has a “massive responsibility” given its rise.

‘Spider-Man: Far From Home’ sequel delayed another month to December 2021

This is the second time the film has been moved on the calendar. The push comes on the heels of a number of other studio slate shake-ups.

Boeing In Cost-Cutting Trouble Again: FAA Finds Corrosion On 737s, Warns Of Dual-Engine Failure

Boeing In Cost-Cutting Trouble Again: FAA Finds Corrosion On 737s, Warns Of Dual-Engine Failure Tyler Durden Fri, 07/24/2020 – 08:39

Having seen a series of hope-filled headlines in recent months on the progression of Boeing’s revival of the 737 MAX (despite and industry-wide collapse in demand), the airplane-maker suffered a blow this morning as The FAA issues an “emergency airworthiness directive” requiring operators of any Boeing 737 passenger jet to inspect and potentially replace a key engine component, following four reports of unexpected engine shutdowns.

China Shutters American Consulate In Chengdu As “New Cold War” Heats Up

China Shutters American Consulate In Chengdu As “New Cold War” Heats Up Tyler Durden Fri, 07/24/2020 – 08:19

Update (0800ET): China’s Foreign Minister Wang Yi, one of the most visible senior officials in the President Xi-led Communist Party, said Friday that the current “difficult situation” in US-Sino relations was “entirely the fault of the US.”

Meanwhile, CCP mouthpiece the Global Times warned in an article published roughly an hour ago that the closure of the US consulate in Chengdu will cause more strategic losses on the US side as “Washington has long used its diplomats in Chengdu to infiltrate Tibet and other regions in Southwest China, interfering in China’s domestic affairs.”

In a statement that alludes to the western powers’ criticisms of China’s blatant and widespread abuses of human rights in Xinjiang, the GT cited a top Foreign Ministry spokesman, who said during a briefing on Friday that the US’s consulate in Chengdu was a thinly veiled espionage operation…

Wang Wenbin, a spokesperson of China’s Foreign Ministry, said at a routine press conference on Friday that some diplomats at the US consulate in Chengdu have undertaken activities that are “inconsistent with their identity” to interfere in China’s domestic affairs and damage China’s national security, and China has made many representations to the US on …

TSLA Enters Bear Market – Are Investors Finally Realizing The True Lack Of Growth?

TSLA Enters Bear Market – Are Investors Finally Realizing The True Lack Of Growth? Tyler Durden Fri, 07/24/2020 – 08:17

Tesla shares are slumping early on Friday morning, two days after the company reported yet another “profitable” quarter helped along by a massive sale of over $400 million in regulatory credits.

In fact, TSLA is now down over 21% from its recent record highs, officially entering a bear market in many investors’ minds…

S&P Futures Fall, “Panic Selling” In China As US-China Spat Escalates

S&P Futures Fall, “Panic Selling” In China As US-China Spat Escalates Tyler Durden Fri, 07/24/2020 – 07:59

U.S. stock index futures fell and Chinese stocks tumbled on Friday following another escalation in tensions between the United States and China, and as Intel’s shares slumped after reporting a delay in a developing new chip technology. The dollar continued its slide on the back of euro and yen strength, while interest rates and gold were mostly unchanged.

Coronavirus: Portugal still on quarantine list for holidaymakers

Travellers from Portugal will have to self-isolate but restrictions are relaxed for other nations.

Retail sales near pre-lockdown levels in June

Sales rose by 13.9%, official figures show, as the reopening of shops released pent-up demand.

Goldman Sachs settles 1MDB scandal with Malaysia for $3.9bn

The US bank will make a cash payment to the Malaysian government as part of the deal.

View: Hold the floor test in Rajasthan

View: Hold the floor test in RajasthanDelay in convening the House will only serve to provide more time for commerce in MLAs. And it would lack any justification whatsoever. Ever since the Bommai judgment, in 1994, it has been clear that the floor of the House is the place to prove or disprove a government’s majority.

Pandemic killed 400,000 airline jobs

Pandemic killed 400,000 airline jobsAirlines the world over have drastically cut back on flights due to border restrictions and a lack of appetite for travel, particularly internationally, because people are worried about contracting the virus and spending lengthy periods in quarantine.

WHO chief scientist sees no herd immunity yet

WHO chief scientist sees no herd immunity yetHerd immunity is usually achieved through vaccination and occurs when most of a population is immune to a disease, blocking its continued spread.

Rail Week Ending 18 June 2020 – Improvement Continues But Still Deep In Contraction

Written by Steven Hansen

Week 29 of 2020 shows same week total rail traffic (from same week one year ago) contracted according to the Association of American Railroads (AAR) traffic data. Total rail traffic has been mostly in contraction for over one year – and now is recovering from a coronavirus pandemic.

Bond Report: Treasury yields struggle for direction as investors weigh U.S.-China tensions against improving eurozone data

U.S. Treasury yields held steady on Friday as investor worries around worsening relations between the world’s two largest economies was offset by signs that the eurozone economic recovery remained on track.

Need to Know: Fund manager defends tech stock valuations as he picks four to benefit from disruption

One fund manager points out why it doesn’t make sense to only use price-to-earnings as a way to measure valuations.

The Margin: The FDA’s list of toxic sanitizers is surging “now at 75. Here’s why

The Food and Drug Administration has expanded its list of toxic hand sanitizers to 75 products that it says contain methanol, a toxic substance that could ultimately result in death if absorbed through the skin or ingested and is therefore are unsafe for human use.