Written by Gary
More than half of the Nasdaq’s gains are gone and Small Caps are ugly (SPY -0.3%). Tech stocks jump after blowout earnings, but the large caps struggle amid profiy taking.
Here is the current market situation from CNN Money | |
European markets are mixed today. The DAX is up 0.71% while the CAC 40 gains 0.06%. The FTSE 100 is off 0.41%. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
Under Armour warns sales will decline as much as 25% in second half of 2020Under Armour’s fiscal second-quarter results were better than the retailer was expecting thanks to an e-commerce boost, but it warned pressures from the coronavirus pandemic will continue to pressure its results in the second half of the year. | |
Fiat Chrysler reports $1.2 billion loss in second quarterFiat Chrysler lost $1.24 billion (1.1 billion euros) in the second quarter as the coronavirus caused rolling shutdowns at its plants across the globe. | |
IFC Films had never played in drive-ins before the pandemic, now it’s a box-office champIFC’s unconventional shift has kept the company in business and not far behind its box-office sales from last year. | |
Pharma giant Merck raises 2020 outlook, saying the worst of the coronavirus impact is behind itSales of Merck’s blockbuster cancer drug Keytruda helped offset an 8% decline in revenue to $10.87 billion during second quarter from $11.76 billion from a year earlier. | |
U.S. agrees to pay Sanofi and GSK $2.1 billion for 100 million doses of coronavirus vaccineThe agreement with Sanofi and GlaxoSmithKelin is the government’s second in less than two weeks for 100 million doses of vaccine. | |
Retail reverses course after reaching 2018 highs, but this stock may still have legs, trader saysParts of the retail trade could still rally after a recent high for the group, says Matt Maley, chief market stratgegist at Miller Tabak. | |
If a deal is available, RedBird Capital can prove SPACs will work in sportsThe private equity company filed with the SEC to create a special purpose acquisition company (SPEC) with hopes it can find quickly raise $500 million to acquire sports data analytics firms. | |
Watch live: Dr. Fauci and other top health officials testify on plan to contain the coronavirusThe House Select Subcommittee is holding a hearing with Dr. Anthony Fauci and other key Trump administration health officials on the U.S. government’s plan to contain the coronavirus. | |
UK PM Boris Johnson postpones easing of coronavirus lockdown measures in EnglandThe move comes after the government imposed restrictions across swathes of northern England following a rise in the rate of transmissions. | |
Special needs families face increased financial pressure in Covid-19 crisis. This can helpFor millions of students with disabilities and special needs in U.S. public and private schools, remote learning has created increased financial pressure for families. Workplace benefits, special savings accounts and other resources can help bridge the financial gap. | |
Coronavirus live updates: U.S. cases jump by 67,000; Sanofi, GSK nab $2.1 billion in vaccine dealThe coronavirus has infected more than 17.3 million people around the world as of Friday, killing at least 673,822 people. | |
Schiff: “The Dollar Is Not Just Going Down; It’s Going To Crash”Schiff: “The Dollar Is Not Just Going Down; It’s Going To Crash” Tyler Durden Fri, 07/31/2020 – 10:00 Via SchiffGold.com, As gold was closing in on its all-time record price last week, Peter Schiff appeared on the Claman Countdown and warned about the looming dollar crisis. Claman set up the interview pointing out that Peter predicted this big move up in gold months ago and asked, œWhat’s your new prediction about the dollar? Peter said it’s not really a new prediction, but perhaps it’s more timely.
Prior to the interview, Claman mentioned that the Dow was up, but Peter said there is another way to look at it.
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Chicago PMI Soars Back Into Expansion In JulyChicago PMI Soars Back Into Expansion In July Tyler Durden Fri, 07/31/2020 – 09:51 While ‘hard’ data continues to disappoint, ‘soft’ survey data is still chock full of hope as MNI’s Chicago Business Barometer surged to 51.9 from 36.6, smashing expectations of 44.0. | |
Stocks Are Getting Hammered At The US Market OpenStocks Are Getting Hammered At The US Market Open Tyler Durden Fri, 07/31/2020 – 09:40 The overnight explosion higher in Nasdaq – on the heels of blockbuster earnings from the tech giants – is fading extremely fast as the US cash markets opened… More than half of the Nasdaq’s gains are gone and Small Caps are ugly… | |
Unsealed Court Docs Suggest Bill Clinton Was On Epstein’s Pedo Island With “2 Young Girls”Unsealed Court Docs Suggest Bill Clinton Was On Epstein’s Pedo Island With “2 Young Girls” Tyler Durden Fri, 07/31/2020 – 09:25 Authored by Steve Watson via Summit News, Court documents were unsealed in the Ghislaine Maxwell case Thursday, and revealed that a witness claims to have seen Bill Clinton on the infamous ‘pedo island’ along with Epstein, Maxwell and œtwo young girls . | |
Coronavirus: Lockdown easing delay ‘is hammer blow’As bowling alleys remain shut and beauty salons are still restricted. business groups express dismay. | |
Holiday firm Tui extends suspension of trips to SpainThe tour firm cancels trips to Spain until mid-August but adds more holidays to Greece and Turkey. | |
House prices bounced back in July, says NationwidePent-up demand and the stamp duty holiday boosted prices, but Nationwide warns it could be a false dawn. | |
Sushant death: ED files money-laundering caseSushant death: ED files money-laundering caseAn ECIR case has been filed by the ED. | |
Pesky spam calls find a blockchain solutionPesky spam calls find a blockchain solutionDespite the prevalence of a ‘do not disturb’ registry, unscrupulous elements have found ways to bypass it and target customers with spam. New blockchain technology may finally provide some respite. | |
India conducts trials for virus detecting techIndia conducts trials for virus detecting techIsraeli Ambassador to India Ron Malka on Friday visited the special testing site created at the Dr Ram Manohar Lohia (RML) Hospital to witness the ongoing trials being conducted since the last three days for rapid COVID-19 testing, the Israeli release on his visit said. | |
June 2020 Headline Personal Income Declined, Expenditures ImprovedWritten by Steven Hansen This month again there was a coronavirus bounce which reduced income and improved spending. | |
Market Extra: How Apple’s stock split will change the pecking order in the 124-year old Dow industrialsThe iPhone maker on Thursday announced that its board approved the stock split. The split will impact owners of record as of Aug. 24 and Apple AAPL’s shares, which closed at $384.76 on Thursday, will trade on a split-adjusted basis on Aug. 31. | |
The Ratings Game: Victoria’s Secret parent recommits to Bath & Body Works separation, driving shares up 27% for the weekIn its latest business update, L Brands reported sales growth at Bath & Body Works and announced a 15% headcount reduction at the corporate headquarters. | |
Help Me Retire: I’m 63, a widow and lost my job because of COVID. I don’t have much in savings and feel lost. What can I do?Have a question about retirement, including where to retire? Email [email protected] |
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