Written by Gary
DOW, SP 500 kicks off August trade higher, but stalled stimulus talks in focus (SPY +0.5%). Stocks making the biggest moves in the opening market: ADT, Google, Clorox, Eli Lilly, and Marathon Petroleum.
Here is the current market situation from CNN Money | |
 | European markets are sharply higher today with shares in Germany leading the region. The DAX is up 2.37% while France’s CAC 40 is up 1.54% and London’s FTSE 100 is up 1.52%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
 | Coronavirus live updates: Eli Lilly begins late-stage trials for antibody drug; Russia plans mass vaccinationThe coronavirus has infected more than 18.09 million people around the world as of Thursday, killing at least 689,625 people. |
| Russia gears up for mass vaccination against coronavirus despite international skepticismDoctors and teachers would be the first to be vaccinated, Russia’s health minister said, while mass vaccinations are planned for October. |
| Clorox names longtime executive its new CEO, as company beats estimates on pandemic-led demandClorox beat market estimates for quarterly net sales on Monday, as U.S. households spent more on disinfectant and other cleaning products due to the Covid-19 pandemic. |
| Lord & Taylor, Men’s Wearhouse owner file for bankruptcy, becoming the latest retail casualties of the pandemicVenerable U.S. retailer Lord & Taylor filed for Chapter 11 bankruptcy on Sunday, becoming the latest in a growing list of storied names to do so amid the ongoing coronavirus outbreak that has crippled the retail sector. |
| As coronavirus cases rise, Africa’s economic recovery hangs in the balanceAs many African nations have emerged from strict lockdown measures over the month of July, coronavirus cases have accelerated across the continent, casting doubt over the prospect of an imminent economic recovery. |
| The real story about getting rich by investing in gold, cryptocurrency and IPOsWhen times feel uncertain, watch out for the recommendations to buy gold or assets supposedly not linked to the stock market. Here’s what to know before you invest. |
| Retail rents plummet across New York City, as America’s glitzy shopping districts turn into ghost townsNew York City retail rent dropped below $700 for the first time since 2011. These plummeting prices should serve as a warning for other glitzy shopping districts. |
| Nation’s testing czar: It’s ‘time to move on’ from talk about hydroxychloroquineBrett Giroir says emphasis should be on “effective” ways to curb the virus despite Trump’s continued promotion of hydroxychloroquine. |
| College students book hotel rooms for fall semester as uncertainty lingersHotels near college campuses are targeting students as the coronavirus pandemic leaves altered school calendars and general uncertainty over the fate of the fall semester. |
| 5 things to know before the stock market opens on MondayStock futures rose as traders looked for signs of progress on coronavirus stimulus negotiations. |
| High odds severe Covid-19 can lead to kidney injury or failure, medical studies revealMedical experts are using AI technology developed by RenalytixAI to identify biomarkers in Covid-19 patients with the highest risk of kidney injury. |
| Virgin Galactic partners with Rolls-Royce as it looks to build an aircraft for supersonic air travelSpace tourism venture Virgin Galactic announced it signed an agreement with Rolls-Royce to develop an aircraft for supersonic travel. |
| Early coronavirus drug trials tested vaccines mostly on White people; next phase aims for diversityThe first large-scale efficacy trials of potential Covid-19 vaccines in the U.S. began Monday. A key priority is recruiting participants of diverse backgrounds. It may be a challenge. |
| US New Vehicle Sales Are Expected To Keep Rebounding In July Despite Virus ResurgenceUS New Vehicle Sales Are Expected To Keep Rebounding In July Despite Virus Resurgence Tyler Durden Mon, 08/03/2020 – 09:05 Via Christophe-Barraud.com, Analysts expect U.S. new vehicle sales to keep rebounding in July after increasing by 42.3% MoM in May and 6.9% in June according to Wards data. |
| Isaias Expected To Intensify Monday, Then Move Up East CoastÂIsaias Expected To Intensify Monday, Then Move Up East Coast Tyler Durden Mon, 08/03/2020 – 08:50 Tropical Storm Isaias is expected to become a hurricane as it nears the Carolinas on Monday evening, according to the National Hurricane Center (NHC). |
| Former Clinton Press Secretary Urges Biden “Whatever You Do, Don’t Debate Trump”Former Clinton Press Secretary Urges Biden “Whatever You Do, Don’t Debate Trump” Tyler Durden Mon, 08/03/2020 – 08:35 Authored by Steve Watson via Summit News, Bill Clinton’s former press secretary has urged Joe Biden not to debate President Trump, claiming that œit’s a fool’s errand because Trump will not ‘follow the rules’. |
| Lockdowns Imposed In Melbourne, Manila As Global COVID-19 Total Tops 18 Million: Live UpdatesLockdowns Imposed In Melbourne, Manila As Global COVID-19 Total Tops 18 Million: Live Updates Tyler Durden Mon, 08/03/2020 – 08:26 Summary: Global COVID cases top 18 million Australia imposes tighter lockdown on Melbourne Duterte revives Manilla lockdown COVID US cases slow HK reports 80 new cases, first reading below 100 in two weeks Gottlieb says lockdowns may not always be most appropriate solution * * * New coronavirus flareups that have emerged over the past few weeks across Europe, Asia, Africa, Latin America and Australia have driven global infection rates to their highest levels yet. By early Monday morning in New York, the number of confirmed cases of COVID-19 had surpassed 18 million… |
| DW Sports chain collapse threatens 1,700 jobsThe firm, founded by former Wigan Athletic owner Dave Whelan, ran 73 gyms and 75 stores across the UK |
| ‘Eat out to help out will definitely affect the weekend’“Eat out to help out” is too complicated and will not mean more customers, says one businessman. |
| Coronavirus: HSBC to speed up 35,000 job cuts as profits slumpEurope’s biggest bank says it may cost up to $13bn to cover bad loans linked to the coronavirus. |
| Scoot or stay? Investors in India in a fixScoot or stay? Investors in India in a fixIndian equity benchmark Sensex witnessed a solid 32 per cent jump from its March 23 low of 25,981 to hit the 38,492 level on July 28. It has since come down about 3 per cent . |
| Biggest toy manufacturing hub to come in NoidaBiggest toy manufacturing hub to come in NoidaThe domestic manufacturers have said that following the increase in import duty on toys from China in December 2019, they were eyeing bigger share on the Rs 20,000 crore market. The current border tensions and talks of license for import of toys will benefit the domestic manufacturer. |
| Wockhardt to make COVID-19 vaccines for UKWockhardt to make COVID-19 vaccines for UKThis deal by Wockhardt entails only manufacturing the vaccine only for the United Kingdom. The government has reserved one fill and finish production line for its exclusive use for the next 18 months in order to guarantee the supply of vaccines required to fight COVID-19 in the UK, Wockhardt said in a statement. |
| NewsWatch: A stock market correction may be imminent, JPMorgan says. Here’s why you shouldn’t panicThe typically muted month of August is upon us but there’s still a lot for investors to digest. |
| Outside the Box: This chart shows what matters more as schools announce COVID-19 reopening plansIs it local health conditions or or local politics beliefs? |
| Market Snapshot: Dow, S&P 500 set to kick off August trade higher, but stalled stimulus talks in focusU.S. stock-index futures on Monday trade modestly higher after wavering in early action in the first trading day in August, with wrangling in Washington over another round of coronavirus stimulus supporting some appetite for large-capitalization technology stocks that are viewed as more resilient to the economic effects of the COVID-19 pandemic. |
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