Written by Gary
US airline stocks ease off of multi-week highs as SP 500 gains (SPY +1.5%). John McAfee arrested for wearing a woman’s thong as a facemask in Germany.
Here is the current market situation from CNN Money | |
 | North and South American markets are mixed today. The S&P 500 is up 1.47% while the IPC gains 0.07%. The Bovespa is off 1.01%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| Stein Mart files for bankruptcy and plans to close most, if not all, of its storesThe off-price chain Stein Mart announced Wednesday it has filed for Chapter 11 bankruptcy protection and plans to permanently close most, if not all, of its stores, adding to the turmoil in a retail industry that has been hammered by the coronavirus pandemic. |
| SoftBank-backed Plenty to supply 430 Albertsons stores in CaliforniaThe partnership with Albertsons marks the vertical farming company’s first major retail deal. |
| Coronavirus live updates: Florida sheriff bans masks for deputies; Russia’s vaccine could be out in NovemberThe coronavirus has infected more than 20.3 million people around the world as of Wednesday, killing at least 743,700 people. |
| Putin’s plan for Russia’s coronavirus vaccine is at ‘high risk of backfiring,’ expert saysJ. Stephen Morrison of the Center for Strategic and International Studies said Russian President Vladimir Putin is trying to score “a domestic win” with the planned rollout of Russia’s vaccine. |
| Trump says U.S. has reached deal with Moderna for 100 million doses of coronavirus vaccineModerna separately said the deal for its vaccine is worth $1.53 billion and will give the federal government the option to purchase up to 400 million additional doses. |
| New York Comic Con cancels in-person convention, will head to YouTubeReedPop has canceled the in-person New York Comic Con at Javits Center this year and will take the annual convention virtual through a partnership with YouTube. |
| Where Kamala Harris stands on coronavirus masks, stimulus checks and other pandemic spendingJoe Biden’s pick of California Sen. Kamala Harris as his running mate brings him a powerful ally in the fight against the coronavirus if the two win the 2020 presidential election. |
| In this week’s segment of Solve It, a weekly series about investment trends and strategies, Phil Camporeale, Investment Specialist at J.P. Morgan Asset Management, shares his views on asset allocation in the current investment environment. |
| British foldable bike maker plans to launch subscription service next month as the cycling boom continuesBrompton is planning to launch a subscription service next month as part of an effort to get more people using its bikes. |
| Russia says vaccine could be in use by November and has been developed over six yearsOn Tuesday, Russia announced that it had registered a coronavirus vaccine, making it the first country to do so. |
| Russia says there is ‘major information warfare’ against its coronavirus vaccineRussia has rejected international criticism and skepticism toward its coronavirus vaccine, saying that it’s safe and that it works. |
| Scientists worry whether Russia’s ‘Sputnik V’ coronavirus vaccine is safe and effectiveScientists and public health officials are skeptical about Russian President Vladimir Putin’s claim that the country’s potential vaccine for the coronavirus “works quite effectively.” |
| U.S. airline stocks ease off of multi-week highs as S&P 500 gives up gainsU.S. airline shares extended their gains Tuesday as more travelers took to the skies and another government bailout remained on the table. |
| Knife-Wielding Man Arrested In Stabbing Reported To Be Suspect In Berkeley Assault On ConservativeKnife-Wielding Man Arrested In Stabbing Reported To Be Suspect In Berkeley Assault On Conservative Tyler Durden Wed, 08/12/2020 – 11:59 Authored by Adam Sabes via Campus Reform, Authorities in California arrested 30-year-old Zachary Greenberg on Sunday, who, as one local newspaper reported, is also the man accused of punching a conservative activist in the face on the campus of the University of California-Berkeley in 2019. |
| New Memos Reveal Aggressive US Lobbying Campaign By Hunter Biden’s Corrupt Ukrainian ‘Friends’New Memos Reveal Aggressive US Lobbying Campaign By Hunter Biden’s Corrupt Ukrainian ‘Friends’ Tyler Durden Wed, 08/12/2020 – 11:40 New memos obtained by Just the News and the Southern Foundation reveal that Ukrainian natural gas firm Burisma conducted an aggressive lobbying campaign directed at the US State Department throughout the 2016 US election, with the goal of pressuring the Obama administration to lean on Kiev to drop corruption allegations. |
| John McAfee Arrested For Wearing A Woman’s Thong As A Facemask In GermanyJohn McAfee Arrested For Wearing A Woman’s Thong As A Facemask In Germany Tyler Durden Wed, 08/12/2020 – 11:35 John McAfee, former founder of McAfee Antivirus Software, was reportedly arrested in Germany for making an unwelcome fashion statement with his face cover when he wore a woman’s thong – instead of a face mask – over his head. McAfee tweeted out on Monday that he had been detained because he wouldn’t put on a medically certified mask instead of the thong. He wrote: “Visited Catalonia just before Europe banned Catalonians from travelling. Tried to return to Germany and were refused entrance. They demanded we wear masks. I put on my thong mask. They demanded I replace it. I refused. Tussle. Jail. Black eye. Released.”
|
| El Erian: Reading The Dollar DoldrumsEl Erian: Reading The Dollar Doldrums Tyler Durden Wed, 08/12/2020 – 11:20 Authored by Mohamed El-Erian via Project Syndicate, A sharp decline in the relative value of the dollar this year has been met with cheers from those hoping for a short-term boost to the US economy, and with hand-wringing by those worried about the currency’s global standing. But while both views reflect underlying truths, neither tells the whole story. |
| Recession is unprecedented, says Chancellor Rishi SunakRishi Sunak says it is a “difficult and uncertain time” as the UK suffers its biggest slump on record. |
| Natwest to cut 550 jobs in branches and close one officeThe lender is seeking to cut costs as more people bank online during the pandemic. |
| Coronavirus: How can I find a new job?Jobseekers are having a tough time at the moment but some sectors are hiring and support is available. |
| Off-roaders help Auto Inc script a comebackOff-roaders help Auto Inc script a comebackAccording to industry body Siam, in July, SUVs clocked 14% growth in volumes over the corresponding period last year. The rise helped the industry soften the double-digit blows suffered in the demand for sedans and hatchbacks category (-12%) and vans (-19%). |
| Next phase of tax reforms this ThursdayNext phase of tax reforms this ThursdayThe launch of the platform will further carry forward the journey of direct tax reforms, following the several measures that have been taken by the Central Board of Direct Taxes (CBDT) to aid taxpayers. The CBDT has carried out several major tax reforms in direct taxes in the recent years. |
| Is Kamala Harris too ‘left’ or enough Indian?Is Kamala Harris too ‘left’ or enough Indian?Harris is neither too left, nor too right. She fills a space, which matters. The pulls from the ‘progressive’ wing of the party have alarmed moderate Democrats, who many strategists fear may ‘sit out’ the election if the party leans ‘too left’. It is also crucial for the party to attract White suburban women voters who fled in 2016. Balance in all directions is crucial for a Biden victory. |
| Big 12 conference says it will play 2020 college football seasonThe Big Ten and Pac-12 have postponed all fall sports for 2020. |
| In One Chart: Warren Buffett said this metric signaled the 2001 crash ” now it’s sounding the alarm on stocks around the worldA sell signal is flashing on Buffett’s favorite indicator. |
| Coronavirus update: Global cases top 20.3 million, U.S. tally tops 5.15 million as Florida and Georgia see record one-day deathsThe number of confirmed cases of the coronavirus illness COVID-19 worldwide climbed above 20.3 million on Wednesday and the U.S. case tally topped 5.15 million, as Florida and Georgia reported record one-day death tolls. |
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:
