Written by Gary
US stock market is expected to open higher heading into a crucial week for global financial markets (SPY +0.2%). Traders watch efforts in Washington to craft another round of rescue spending.
Here is the current market situation from CNN Money | |
 | European markets are mixed. The DAX is higher by 0.29%, while the CAC 40 is leading the FTSE 100 lower. They are down 0.19% and 0.18% respectively. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
 | Hasbro revenue falls 29% as store closures, product shortages hurt sales; shares dropStore closures, product shortages and lower retail inventory hampered Hasbro in the second quarter, as the company posted weaker-than-expected earnings on Monday. |
| Pandemic pushes travelers to take to the road in RVsThe recreational vehicle industry saw years of growth during the recovery following the financial crisis. Then sales started to flag. Now the coronavirus is positioning it for a new boom. |
| The world’s biggest coronavirus vaccine study begins, a U.S. trial that will include 30,000 people to see if the shots really workThe world’s biggest Covid-19 vaccine study got underway Monday with the first of 30,000 planned volunteers helping to test shots created by the U.S. government ” one of several candidates in the final stretch of the global vaccine race. |
| Advocates push for more farmworker protections as coronavirus cases surgeAt farms across the country, hundreds of workers are contracting Covid-19, sparking concerns about the nation’s food supply and how to protect the low-wage agricultural laborers. |
| WHO says coronavirus is by far its worst global health emergencyThe new coronavirus pandemic that has infected more than 16 million people is easily the worst global health emergency the World Health Organization has faced, its director general Tedros Adhanom Ghebreyesus said on Monday. |
| 5 things to know before the stock market opens MondayDow futures were higher Monday as White House officials signal what Republicans are willing to accept in a new coronavirus relief bill. |
| Coronavirus live updates: Moderna wins additional U.S. funding; WHO deems Covid-19 ‘most severe’ health emergencyThe coronavirus has infected more than 16.2 million people across the world as of Monday, killing at least 648,900 people. |
| Hanna pummels Texas coast with strong winds, heavy rainHanna, the first hurricane of the 2020 Atlantic season, left a trail of destruction along the Texas coast on Sunday, downing power lines, flooding streets and toppling 18-wheeler trucks as torrential rains threatened the area. |
| Ryanair reports net loss of 185 million euros and predicts traffic will be down 60% this yearThe low-cost airline said Monday that its next fiscal 12 months “will be a very challenging year.” |
| Moderna gets further $472 million U.S. award for coronavirus vaccine developmentModerna said on Sunday it has received an additional $472 million from the U.S. government’s Biomedical Advanced Research and Development Authority to support the development of its novel coronavirus vaccine. |
| How the coronavirus is changing the way we shop ” and what we’re buyingThe coronavirus pandemic is likely to change how and what consumers buy, forcing the retail industry to quickly innovate in a race that’s likely to squeeze smaller brands. |
| Trump signs series of executive orders aimed at lowering drug costsThe orders, which are subject to regulatory review, are designed to bring U.S. drug prices at least on par with their costs overseas. |
| Hurricane Douglas gains strength, but skirts the state of HawaiiHurricane Douglas gained some strength and began to spin away from many of the Hawaiian Islands as it skirted the state late Sunday. |
| Durables Goods Orders Jump In June But The “V” Is MissingDurables Goods Orders Jump In June But The “V” Is Missing Tyler Durden Mon, 07/27/2020 – 08:36 Durable Goods Orders rebounded strongly in May – as expected – but that rebound was expected to slow in preliminary June data, pouring cold water on the ‘soft’ survey data’s resurgence back to “normal”. The flash June data beat expectations with a 7.3% MoM rise in headline orders (against +6.9% exp) against a downwardly revised 15.1% rise in May but year-over-year remains notably weaker… |
| Hong Kong Imposes Toughest COVID-19 Restrictions Yet As “Third Wave” Worsens: Live UpdatesHong Kong Imposes Toughest COVID-19 Restrictions Yet As “Third Wave” Worsens: Live Updates Tyler Durden Mon, 07/27/2020 – 08:31 Summary: European stocks slide, shaken by travel restrictions on Spain Merkel’s chief of staff says rise in COVID-19 cases is “cause for concern” US CDC reported 64,582 cases yesterday Australia’s Victoria State reported another 532 new cases Hong Kong suffers biggest daily jump in domestically transmitted cases Vietnam evacuates tourists after COVID-19 cluster discovered China reports another 61 cases on the mainland Hong Kong imposes new restrictions Masks must be worn indoors and outside when in public 2 new deaths seen over the weekend Moderna gets another ~$470 in US government funding * * * Update (0805ET): Here’s a rundown of all the big COVID-19 news from yesterday (much of which we initially reported here) and the overnight session. The CDC reported 64,582 new cases (vs.+74,818 a day earlier) and 929 deaths (vs. +1,145 a day earlier) on July 26 (remember, these numbers are reported with a 24-hour delay). Texas reported 5, … |
| Blain Warns “It Could Get Pretty Rough Out There” Despite EU CheerleadingBlain Warns “It Could Get Pretty Rough Out There” Despite EU Cheerleading Tyler Durden Mon, 07/27/2020 – 08:25 Authored by Bill Blain via MorningPorridge.com, “It is no coincidence that no language has ever produced the expression: œAs pretty as an airport. My spidey senses are tingling. I have a feeling this is going to be an œinteresting week for markets. The virus, and the government responses toward it, look likely to remind us just how destabilised economic growth has become. We’ll be getting the Fed response on how US growth may be stalling on Wednesday versus expected better European numbers on Thursday.  Q2 numbers may yet disappoint. I suspect the current cosy global recovery expectations consensus will be shaken by rising hotspot outbreaks across the US, India and even Asia.  Add in likely earning shocks from global plane makers reporting this week, (Boeing accounts for around 1% of US GDP on its own), plus increasing political uncertainty over the US election.. and then ponder what this morning’s record Gold price in Asia means ¦ It could get pretty rough out there. |
| Gold Catapulted On Dollar Meltdown, Futures Rise With Focus On FedGold Catapulted On Dollar Meltdown, Futures Rise With Focus On Fed Tyler Durden Mon, 07/27/2020 – 08:11 S&P futures rebounded from last week’s dump on Monday, ending a two-day slide on Wall Street, as expectations for a more dovish outlook from the U.S. Federal Reserve – due to deteriorating economic conditions – brightened the market mood ahead of the busiest week for quarterly earnings reports which sees updates from companies including Apple, Amazon and Boeing. |
| EasyJet scraps Spanish holidays but keeps flightsThe move comes after travellers from Spain to the UK are told to self-isolate on arrival. |
| Ryanair still flying to Spain despite quarantineThe airline says it will continue flights to Spain as normal, despite the UK’s 14-day quarantine. |
| Coronavirus: UK economy ‘might not recover until 2024’Analysts say it will take longer than expected for the economy to return to its pre-coronavirus size. |
| Israeli team making Covid kit comes to IndiaIsraeli team making Covid kit comes to IndiaThe Israeli defence ministry research and development team has been working with India’s chief scientist K Vijay Raghavan and Defence Research and Development Organisation (DRDO) to develop rapid testing for COVID-19 in less than 30 seconds, the Israeli Embassy had said last week. |
| Economy to see V-shape recovery: NK SinghEconomy to see V-shape recovery: NK SinghThe growth projections for current year by various global and domestic agencies indicate a sharp contraction of Indian economy ranging from (-)3.2 per cent to (-)9.5 per cent. |
| ET Wealth | All about Corona Kavach planET Wealth | All about Corona Kavach planThe cover will only be applicable if the person insured tests positive for Covid. The policy covers expenses for bed charges, nursing charges, blood tests, PPE kits, oxygen, ICU and doctor consultation fees during hospitalisation. |
| : Deodorant sales fall due to social distancing but locked down consumers send ice-cream sales soaring, says UnileverLockdowns caused a drop in demand for deodorant as locked-down consumers stayed indoors, but ice cream sales soared, Axe and Ben & Jerry’s owner Unilever said. |
| Futures Movers: Oil buoyed by sliding U.S. dollar as traders watch stimulus talks, coronavirus tollOil futures edge higher Monday, finding support from a continued slide by the U.S. dollar as traders watch efforts in Washington to craft another round of rescue spending and assess the continued spread of COVID-19. |
| Market Extra: Here’s what a falling U.S. dollar means for the stock marketBarring some sort of currency meltdown, a weaker dollar should be a positive for equities, though foreign stocks will likely benefit more, analysts say. |
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