24Jul2020 Midday Update: Wall Street Slides As Beijing Orders US Consulate In China Shut, DOW Down 135 Points, US Dollar Remains Weak At 94.43, Gold Tops 1900, Silver Hits 22.91 Earlier

Here is the current market situation from CNN Money

North and South American markets are lower today with shares in Mexico off the most. The IPC is down 0.78% while U.S.’s S&P 500 is off 0.49% and Brazil’s Bovespa is lower by 0.02%.

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.

Universal Studios cancels lucrative Halloween Horror Nights as coronavirus cases soar

Universal Studios announced that its annual Halloween Horror Nights event has been canceled due to operating restrictions linked to the coronavirus.

Why disinfectant wipes aren’t returning as fast as toilet paper

While toilet paper has mostly returned to the shelves since the panic buying of the early pandemic days in March, disinfectant wipes are still in short supply.

FAA warns of possible engine shutdowns in safety directive on older Boeing 737 jets

The FAA is warning airlines to inspect some older 737 jets that have been in storage for potential corrosion that could cause engine shutdowns.

Siberian heat wave is driving massive wildfires, sea ice melt in Arctic

The World Meteorological Organization warns that temperatures in Siberia were about 18 degrees F above average in June.

Texas coronavirus outbreak ‘going to take a little while’ to eliminate, Gov. Abbott says

“We are turning the situation in the state of Texas. It’s just going to take a little while, but we’re going to be fine,” Gov. Greg Abbott said on CNBC’s “Squawk Box.”

Budget-minded business owners’ love affair with gig workers is growing

The coronavirus pandemic has fueled the rise in on-demand solutions, creating opportunities not only for companies but freelance work professionals, especially those looking for a side hustle.

Bankrupt Neiman Marcus to vacate the Hudson Yards mall in New York

A Neiman Marcus spokesman said the company, in its bankruptcy proceedings, is closing its Hudson Yards location for good, along with two stores in Florida ” Fort Lauderdale and Palm Beach ” and in Bellevue, Washington.

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.

Some Optimism From Goldman: The Number Of New COVID Cases Is Starting To FlattenÂ

Some Optimism From Goldman: The Number Of New COVID Cases Is Starting To Flatten Tyler Durden Fri, 07/24/2020 – 12:05

As the US reports more than 1k deaths for the third straight day, reporters are mostly focusing on this milestone, along with the US surmounting the 4 million-case mark, as the biggest COVID-19-related stories of the day. But a team of market-focused analysts at Goldman Sachs pointed out that the daily case totals in some of the worst hit Sun Belt states appear to have finally plateaued.

A Stress Test For A Straining Superpower

A Stress Test For A Straining Superpower Tyler Durden Fri, 07/24/2020 – 11:45

Authored by Patrick Buchanan via Buchanan.org,

How great a burden can even an unrivaled superpower carry before it buckles and breaks? We may be about to find out…

Goldman Spots A Historic Inversion In The Market

Goldman Spots A Historic Inversion In The Market Tyler Durden Fri, 07/24/2020 – 11:25

Back in May when we explained “how retail investors took over the stock market” (which Bloomberg again confirmed overnight when it reported that hedge funds are now chasing robinhood investors, and buying whatever Millennial and GenZ daytraders are buying) we said that the recent surge in options trading – which has far more impact on market flows due to embedded leverage – has had a key role in this transformation, and cited Goldman data which showed that “individual investor active trading is playing an increased role in market volatility, particularly in select stocks. In the shares market, 2.3% of all volume is made up of trades for $2,000 or less. The increase in small trades has been even more notable in the options market, where 13% of all trades are for 1 contract.”

The Number Of Permanent Business-Shutdowns Is Rising

The Number Of Permanent Business-Shutdowns Is Rising Tyler Durden Fri, 07/24/2020 – 11:05

Via SchiffGold.com,

Permanent business closures are rising as the economic impacts of the coronavirus-induced government shutdowns continue to ripple through the economy.

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.

Trai asks broadcasters to follow new order

Trai asks broadcasters to follow new orderTrai has sought details of all the channels and bouquets from the broadcasters by August 10th. These include name, nature, language, MRP of channels and bouquets per month. The regulator has also asked the broadcasters to amend their reference interconnect offer (RIO) in compliance with the provisions of NTO 2.0 and publish on their respective websites.

Committed to future of Coffee Day: Malavika Hegde

Committed to future of Coffee Day: Malavika HegdeIn a letter addressed to employees of CDEL and its subsidiaries on Friday, Malavika Hegde wrote that she was œresolutely committed to the future of Coffee Day as a going concern, which she described as œa genuine Indian consumer story worth preserving.

RIL becomes 2nd most valuable energy firm

RIL becomes 2nd most valuable energy firmThe oil-to-telecom conglomerate is now ranked 46th globally on market cap, according to stock market data.

17 July 2020 ECRI’s WLI Improvement Continues But Remains In Contraction

Written by Steven Hansen

ECRI’s WLI Growth Index which forecasts economic growth six months forward improved but remains in contraction. ECRI also released its coincident index this past week.

Realtor.com: ‘It’s a tax on being Black in this country’ ” 5 ways racism is embedded in the housing industry

Black Americans still trail behind other races when it comes to owning a home. When they do purchase homes, they are more likely to be offered more expensive mortgages.

NewsWatch: Fauci tells MarketWatch: I would not get on a plane or eat inside a restaurant

‘I certainly don’t think we’re near the end of this,’ says Dr. Anthony Fauci, the veteran epidemiologist.

The Tell: Oil policy unlikely to change if Mohammed bin Salman takes charge in Saudi Arabia: analyst

Saudi Arabia’s 84-year-old King Salman underwent gallbladder surgery this week, stoking speculation that the succession of Crown Prime Mohammed bin Salman could soon arrive.