Written by Gary
New York City sets up quarantine checkpoints toughening state travel restrictions (SPY +0.5%). The ISM and the Markit PMI Services Index improved with the Markit PMI showing no growth.
Here is the current market situation from CNN Money | |
North and South American markets are broadly higher today with shares in Mexico leading the region. The IPC is up 1.72% while Brazil’s Bovespa is up 1.28% and U.S.’s S&P 500 is up 0.59%. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
Johnson & Johnson reaches deal with U.S. for 100 million doses of coronavirus vaccine at more than $1 billionJohnson & Johnson announced Wednesday that it will develop and deliver 100 million doses of its coronavirus vaccine for the U.S. in a deal totaling more than $1 billion. | |
CVS Health raises forecast for year as it adapts to changing health-care habitsThe company filled fewer prescriptions during the quarter because of stay-at-home orders, but its health benefits business got a boost as people delayed elective procedures. | |
Moderna is pricing coronavirus vaccine at $32 to $37 per dose for some customersModerna is charging between $32 to $37 per dose for its coronavirus vaccine for some customers, under cheaper “pandemic pricing,” the company said. | |
Coronavirus updates: J&J to develop 100 million vaccine doses for U.S.; global deaths surpass 700,000The coronavirus has infected more than 18.57 million people around the world as of Wednesday, killing at least 701,544 people. | |
Disney’s ‘Mulan’ coming to Disney+ in September for $29.99Disney announced Tuesday that its blockbuster feature “Mulan,” which has been delayed from its theatrical release, will hit Disney+ on Sept. 4, for $29.99. | |
Moderna’s second-quarter revenue jumps fivefold on coronavirus vaccine developmentModerna said it has begun talks with multiple countries to supply its potential coronavirus vaccine, called mRNA-1273, and has already received about $400 million in deposits as of July 31. | |
Here’s where U.S. vacationers would be willing to travel againA survey of 4,300 travel insurance customers by Richmond, Virginia-based insurer Allianz Travel found that half would be willing to travel given advanced sanitization or a proven Covid-19 vaccine. They’d also not mind flying or staying in a hotel. | |
With pandemic, CVS sees big business opportunities with Covid-19 testing, flu shotsCVS Health said Wednesday that it’s focused on providing the services that are in high demand during the pandemic from flu shots to testing for colleges. | |
Nikola founder attempts to restore confidence and curb investor expectations as shares plungeTrevor Milton reconfirmed several of the company’s expectations, including production of its hydrogen fuel cell semitruck for next year and a partnership with a “big OEM,” or automaker, for its Badger pickup truck. | |
New York City sets up quarantine checkpoints as it toughens state travel restrictionsNew York City is setting up quarantine checkpoints at “key entry points” along main bridges and tunnels to the city to screen some incoming travelers, Mayor Bill de Blasio said. | |
BMW plunges to Q2 EBIT loss as coronavirus pandemic hits car salesBMW said it expected an operating profit for the full year even as coronavirus lockdowns pushed the carmaker to a second-quarter operating loss as deliveries of luxury cars fell 25% during the period. | |
SpaceX launches and lands prototype of its Mars rocket Starship in key short flight testThe fifth prototype of SpaceX’s next-generation Starship rocket passed its most critical test yet. | |
What to know about Ford’s incoming CEO Jim FarleyWall Street analysts expect Farley, who’s known as a passionate “car guy,” to speed up the automaker’s transformation efforts and potentially bring a new sense of interest in the company. | |
China Will Soon Be Able To Close Off The Straits Of Hormuz And The Red SeaChina Will Soon Be Able To Close Off The Straits Of Hormuz And The Red Sea Tyler Durden Wed, 08/05/2020 – 11:48 By Michael Every of Rabobank The world is rightly shocked today by the terrible explosion that devastated Beirut, and our thoughts go out to the people of Lebanon. The cause is still unknown, but visual evidence and official government statements suggest it was a tragic accident due to storing fireworks next to up to 2,750 tons(!) of ammonium nitrate. Despite denials from daggers-drawn Israel and Hezbollah, even a region rife in conspiracy theories had dismissed thoughts of this being either (Lebanese) politics or regional geopolitics (indeed, Israel has offered medical assistance given Beirut’s hospitals are overflowing) ¦until US President Trump blurted out his generals had told him it looked like a bomb and œattack of some kind. Speculation or confidential information? Either way, it’s explosive. As is the fact that not too far away, the United Arab Emirates has opened its first nuclear reactor, a step to being able to develop a nuclear weapon if it so chooses ” though it has sworn not to. Not so sworn, perhaps, is Saudi Arabia. The Wall Street Journal reports China … | |
Florida COVID-19 Cases Top 500,000; NYC Sets Up “Check Points” For Travelers: Live UpdatesFlorida COVID-19 Cases Top 500,000; NYC Sets Up “Check Points” For Travelers: Live Updates Tyler Durden Wed, 08/05/2020 – 11:26 Summary: Florida cases top 500k NYC institutes “check points” for travelers Chicago public schools to reopen online only this fall UK invests $18mil in Scottish vax factory JNJ strikes huge vax deal with White House COVID deaths top 700k US to send DHHS Secretary Alex Azar on historic visit to Taiwan Czech Republic reports biggest jump in new cases since June Poland suffers record deaths WHO sends team of 43 to South Africa Uganda is Africa’s standout COVID success story WHO says first “confirmed” North Korea COVID cases “inconclusive” Queensland, Australia bars travelers from all Eastern states * * * Update (1110ET): In other big vaccine-related new from Wednesday, the UK agreed to invest $18 million in a Scottish vaccine-manufacturing plant early Wednesday. Here’s more on that from The Scotsman:
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US Government And Yale Hold Trials On How Best To “Persuade” Americans To Take COVID-19 VaccineUS Government And Yale Hold Trials On How Best To “Persuade” Americans To Take COVID-19 Vaccine Tyler Durden Wed, 08/05/2020 – 11:20 Authored by Joe Martino via Collective-Evolution.com, IN BRIEF The Facts: The US government and Yale University collaborate in a clinical trial to determine the best messaging to persuade Americans to take the COVID-19 vaccine. Reflect On: Why do people need to be persuaded? Is it possible they have a lack of trust in public health recommendations for good reason? | |
Rashida “Impeach The Motherf**ker” Tlaib Defeats Centrist Primary ChallengerRashida “Impeach The Motherf**ker” Tlaib Defeats Centrist Primary Challenger Tyler Durden Wed, 08/05/2020 – 11:05 The biggest political news of the day is undoubtedly the victory by a formerly homeless BLM activist who triumphed over a longtime Democratic incumbent. But it’s also worth noting that “Squad” member Rashida “Impeach the Motherf**ker” Tlaib managed to fend off a primary challenger running from the center. | |
WH Smith may cut 1,500 jobs after sales plummetHigh Street chain is the latest retailer to make drastic job cuts after lockdown hit business. | |
Blondie song catalogue sold in ‘Atomic’ dealHipgnosis Songs Fund, which allows people to invest in popular hits, snaps up 197 of the band’s songs. | |
Lebanon: Why the country is in crisisWhat has caused such anger across Lebanon – and why it is not going away. | |
China won’t let Donald Trump ‘grab’ TikTokChina won’t let Donald Trump ‘grab’ TikTokAn editorial, published late Monday by the China Daily newspaper, represented Beijing’s strongest defence yet of ByteDance Ltd. and its viral video app. œChina will by no means accept the ‘theft’ of a Chinese technology company, and it has plenty of ways to respond if the administration carries out its planned smash and grab, it said. | |
SBI boss wants govt to give middle class a breakSBI boss wants govt to give middle class a breakThe ongoing payments moratorium has achieved the limited purpose it was aimed at, and the Reserve Bank of India now has to look at providing restructuring relief to banks which would then determine who would qualify for loan recast, he said. | |
FANMAG stocks lure investors to think globalFANMAG stocks lure investors to think globalWhile Indian market’s best returns came from business behemoth Reliance Industries, which gained 140 per cent from its 52-week low hit on March 23, 2020, Elon Musk’s auto giant Tesla turned a multibagger, surging as much as 750 per cent in these four months. | |
July 2020 ISM and Markit Services Surveys Again ImproveWritten by Steven Hansen The ISM and the Markit PMI Services Index improved with the Markit PMI showing no growth (and no contraction either) and the ISM well into expansion. | |
Hahn: FDA won’t make regulatory decisions based on preprints or news releasesThe COVID-19 pandemic has upended the long standing model for publishing clinical data as researchers and drugmakers race to share the latest findings about treatment and vaccine candidates at a time when case counts and deaths are still rising. | |
Europe Markets: European stocks rise on strong earnings but mounting risks keep gold climbing above $2,000European stocks and U.S. futures made gains early on Wednesday, despite a concoction of risks sending gold above $2,000 an ounce for the first time in history. | |
Here’s why the massive explosion in Beirut will deepen Lebanon’s financial nightmareThe destruction of the port of Beirut on Tuesday will throw Lebanon deeper into the protracted financial crisis it has faced recently, which forced the country to default on a $1.2 billion eurobond in March. |
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