Written by Gary
The Fed is extending its lending programs until the end of the year (SPY -0.1%). Texas now 4th state with 400,000 cases.
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 0.26% while Mexico’s IPC is off 0.20% and U.S.’s S&P 500 is lower by 0.09%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| Dr. Fauci on Trump criticism: ‘I have not been misleading the American public under any circumstances’The comment came in response to retweets from President Trump accusing Fauci of misleading Americans. The posts have since been removed. |
| Bill Gates on back to school: Benefits in ‘almost every location’ outweigh costs for young children“As you get up to age, like, 13 and higher, then you’ll have to look at your locale to decide what you’ll do with high schools,” the billionaire philanthropist told CNBC. |
| ‘We’re trying every angle’: Coronavirus loans are running out as Congress weighs new fundingRecent data from the National Federation of Independent Business finds the majority of members surveyed have now used their entire PPP loan, with the remaining 29% not far behind. |
| Five things investors are watching as GM and Ford report coronavirus-ravaged earningsThe coronavirus pandemic brought the U.S. automotive industry to a standstill. Investors will see just how bad the damage is when all three Detroit carmakers report earnings this week. |
| Bill Gates says delays in coronavirus test results make them a ‘complete waste,’ ‘insane’“You should not reimburse somebody for getting a test that it takes more than 48 hours to get the result back,” Bill Gates told CNBC. |
| Pfizer shares rise after better-than-expected earnings and higher 2020 outlookPfizer reported better-than-expected second-quarter earnings and raised its outlook for 2020, despite a 32% drop in profit as demand fell for some of its drugs during the coronavirus pandemic. |
| Bill Gates says there could be a ‘substantial’ reduction in coronavirus death rate by end of 2020Bill Gates said also emphasized the importance of persuading the public to take the vaccine if and when it becomes available. |
| JetBlue Airways swings to quarterly loss and expects revenue to drop 80% in third quarterJetBlue Airways swung to a second-quarter loss after revenue plunged more than 90% because of the coronavirus. |
| McDonald’s revenue falls 30% despite progress at U.S. restaurantsMcDonald’s global same-store sales improved sequentially during the quarter. |
| 25% of cars in the U.S. are at least sixteen years old as vehicle age hits record high“In the mid-’90s, 100,000 miles was about all you would get out of a vehicle. Now, at a 100,000 miles a vehicle is just getting broken in,” said IHS Markit’s Todd Campau. |
| Pfizer CEO says Trump’s executive orders overhauling U.S. drug pricing will cause ‘enormous destruction’On Friday, Trump signed four executive orders designed to bring U.S. drug prices at least on par with their costs overseas. |
| McDonald’s customers changed their behavior during pandemic, but some trends could endureMcDonald’s is seeing some consumer behavior trends reverse as lockdowns ease, but the fast-food giant thinks higher delivery orders and other buying patterns stick around long after the coronavirus pandemic. |
| Emmys 2020: Netflix snags record 160 nods, here’s a full list of nomineesThe Academy of Television Arts & Sciences’ 72nd annual Emmy Awards will be presented Sept. 20, but who will be in the running? |
| Dry Bulk Shipping Rates Slashed In HalfDry Bulk Shipping Rates Slashed In Half Tyler Durden Tue, 07/28/2020 – 12:05 By Greg Miller of Freightwaves, Fortunes rise and fall fast in ocean shipping. Easy come, easy go. Case in point: Dry bulk spot rates were surging throughout June and the first week of July. Today, they’re on a steep slide. œLevels for the big ships are spiraling downward, brokerage Fearnleys wrote in its weekly report. œEvery rally is followed by a correction, something that is currently taking place following one of the strongest rallies in recent memory, commented Breakwave Advisors, creator of the BreakWave Dry Bulk Shipping ETF. |
| Chicago Mayor Now Blames ‘Guns From Other States’ For Horrific ViolenceChicago Mayor Now Blames ‘Guns From Other States’ For Horrific Violence Tyler Durden Tue, 07/28/2020 – 11:45 As Chicago continues to experience an explosion in crime, mayor Lori Lightfoot has found a new bogeyman to blame; guns from out of state (and not those firing them). |
| Illinois, Washington DC, Others Added To Tri-State Quarantine List; Florida Suffers Record Jump In Deaths: Live UpdatesIllinois, Washington DC, Others Added To Tri-State Quarantine List; Florida Suffers Record Jump In Deaths: Live Updates Tyler Durden Tue, 07/28/2020 – 11:44 Summary: Washington DC, Illinois, Minnesota, Kentucky and Puerto Rico added to quarantine list Arizona reported another 2,107 cases New York reports latest batch of cases 4 more Marlins players test positive Africa nears 1 million COVID-19 cases Florida reports new record single-day deaths Belarus president says he had virus Fla. suffers biggest one-day jump in hospitalizations Oldham faces tightened COVID-19 restrictions in bid to prevent lockdown BoJo defends travel restrictions on Spain Bill Gates sits for interview on CNBC Sun Belt states see promising pull back China reports 1st case in Beijing in 3 weeks Head of China’s CDC takes experimental vaccine WHO warns COVID-19 isn’t going to be “seasonal” like the flu Germany joins list of European countries warning on travel to Spain Tokyo suffers another 270 cases Vietnam makes mask-wearing mandatory again Madrid tightens virus restrictions amid resurgence fears * * * Update (1125ET): Arizona reported 2,107 (+1.3%) new cases, b … |
| Goldman Warns “Real Concerns Are Emerging” About The Dollar As Reserve Currency; Goes “All In” GoldGoldman Warns “Real Concerns Are Emerging” About The Dollar As Reserve Currency; Goes “All In” Gold Tyler Durden Tue, 07/28/2020 – 11:28 In his morning critique of goldbugs’ resurgent optimism about the future of gold, which has exploded alongside the price of precious metals, which in turn have been tracking the real 10Y rate tick for tick… |
| Closing furlough ‘could lead to 10% unemployment’An economic research group says there is a risk the scheme is coming to an end prematurely. |
| Selfridges: Staff cuts ‘toughest decision we’ve ever had to take’Upmarket department store chain Selfridges is cutting 450 workers, 14% of its workforce. |
| ‘Fix your bike’ vouchers launch, as cycling to be prescribed on NHSThe prime minister says GPs in areas with poor health will be encouraged to prescribe cycling. |
| Mitsubishi to discontinue Pajero from next yearMitsubishi to discontinue Pajero from next yearThe coronavirus crisis has exacerbated struggles at the company that had already been battling falling sales in China and southeast Asia, its largest market which accounts for a quarter of its sales. |
| Potato prices surges 40% in major citiesPotato prices surges 40% in major citiesIn the major metros of Mumbai, Delhi, Kolkata and Chennai potato is selling for Rs 30-45 per kg, depending on the variety and quality. In Mumbai, a kg of potato is commanding a price of Rs 35-45 while in Delhi and Kolkata prices are hovering between Rs 30-40 per kg. |
| IAF Rafales conduct mid-air re-fuellingIAF Rafales conduct mid-air re-fuellingThe fleet, comprising three single seater and two twin seater aircraft, is arriving at Ambala airbase on Wednesday afternoon where they will be officially inducted into the IAF as part of its No 17 Squadron. |
| Capitol Report: Trump’s meeting with pharma execs called off, as analysts say his moves on drug prices lack biteAnalysts are dismissing President Donald Trump’s recent executive orders aiming to lower drug prices, as his meeting with major drug company executives is no longer set to happen on Tuesday as planned. |
| Amazon expands its grocery service in head-to-head battle with U.K. supermarketsAmazon is expanding its online grocery service ahead of its second-quarter earnings this week, in a major offensive to win more customers in the fiercely competitive U.K. grocery market. |
| NewsWatch: ‘Trouble’s coming,’ warns short-selling legend who just cashed in a roughly $100 million winning betJim Chanos, fresh off a huge win, is casting gloom over the current state of the stock market. |
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:
