Written by Gary
Amazon cuts more than 1,200 delivery contract jobs (SPY +0.1%). Stocks battle for record highs after coronavirus jobless claims fall below 1M.
Here is the current market situation from CNN Money | |
 | North and South American markets are mixed today. The Bovespa is up 0.38% while the S&P 500 gains 0.12%. The IPC is off 0.33%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| Scientists say the coronavirus is at least as deadly as the 1918 flu pandemicThe coronavirus is at least as deadly as the 1918 flu pandemic and the death toll could even be worse if world leaders and public health officials fail to adequately contain it. |
| Empty apartments in Manhattan reach record high, topping 13,000Continued slow activity suggests that Manhattan’s real estate and economic troubles could extend well into the fall or beyond. |
| Kamala Harris blames Trump for severity of U.S. coronavirus outbreak: He failed to take it ‘seriously from the start’Democratic vice presidential pick Sen. Kamala Harris blamed President Donald Trump for the severity of the coronavirus outbreak in the United States. |
| American Airlines prepares to drop some service to smaller cities as expiration of federal aid nearsAmerican could announce route reductions as early as next week and the changes would likely affect small-to-midsize cities. |
| Departure of GM CFO Dhivya Suryadevara highlights ongoing ‘brain drain’ problem for auto industryAs the automotive and tech sectors have collided in the past decade with the rise of connected, electric and autonomous vehicles, the competitive landscape for top talent has increasingly become more challenging. |
| Coach owner Tapestry posts narrower-than-expected loss, but faces tough turnaround during pandemicCoach and Kate Spade owner Tapestry reported a narrower-than-expected loss Thursday, as a strong online business helped offset the impact of closed stores during the coronavirus pandemic. |
| With test delays across country, Kroger and CVS Health say they can help businesses, college campusesKroger and CVS Health are both pitching Covid-19 testing programs to employers to help them reopen and operate safely as the pandemic continues. |
| Bankrupted Stein Mart is closing all of its stores. Here’s a map of where they areStein Mart has filed for bankruptcy and now the retailer is kicking off going-out-of-business sales at all of its stores. Deals are for up to 30% off merchandise. |
| Chili’s parent expects higher delivery and takeout sales to continue long after the pandemicBefore the pandemic, only 20% of Brinker International’s sales came from takeout and delivery. Now, about half of its sales are off-premise. |
| Tropical Storm Josephine forms in the Atlantic Ocean; no warnings in effectTropical Storm Josephine formed in the Atlantic Ocean on Thursday morning, making it the earliest “J-named” storm in a record-setting hurricane season. |
| Coronavirus live updates: NCAA’s top medical officer says œvery narrow path to restart sportsThe coronavirus has infected more than 20.6 million people around the world as of Thursday, killing at least 750,400 people. |
| Watch live: World Health Organization holds press conference on the coronavirus outbreakWorld Health Organization officials are holding a press conference on Thursday to update the public on the coronavirus outbreak that has infected more than 20 million people across the globe. |
| Cathay Pacific and Singapore Airlines will ‘inevitably’ take longer to recover, analyst saysBoth carriers are based in markets that have no domestic demand in a time where international travel is still very limited, said Joanna Lu of Cirium. |
| France Deploys Jets, Warship To East Mediterranean Amid Turkey Gas TensionsFrance Deploys Jets, Warship To East Mediterranean Amid Turkey Gas Tensions Tyler Durden Thu, 08/13/2020 – 12:06 France is getting more deeply involved against Turkey’s eastern Mediterranean ambitions for expanded oil and gas exploration, reportedly sending fighter jets and a naval frigate near Cyprus in order to contest Turkey encroachment on EU members’ territorial waters. Cypriot media has confirmed that so far two French Rafale fighter jets and a C-130H support plane have landed at a base on the island, with international media noting Paris is further deploying the naval frigate ‘Lafayette’ to the region. President Emmanuel Macron announced via a Twitter statement Wednesday: “I have decided to temporarily reinforce the French military presence in the eastern Mediterranean in the coming days, in cooperation with European partners, including Greece.” |
| WHO Warns Possibility Of COVID-19 Reinfection “Unconfirmed” As China Finds 2 More “Chronic” Cases: Live UpdatesWHO Warns Possibility Of COVID-19 Reinfection “Unconfirmed” As China Finds 2 More “Chronic” Cases: Live Updates Tyler Durden Thu, 08/13/2020 – 12:06 Summary: Arizona reports latest infections China finds 2 more cases of “rare” COVID recurrence Germany sees new cases hit 3-month high 6% of England has been infected Rural Indians grow weary of wearing masks Philippines joins Brazil, UAE etc in planning Russian vaccine trials South Korea sees cases hit 1-month high Oxford-Astrazeneca vaccine produces “immune response” in test subjects * * * Update (1150ET): Remember when the NYT insisted that cases of COVID-19 recurrence are extremely rare, and those worried about the possibility of chronic infection, and/or the level of protection afforded by an eventual vaccine were simply fear-mongerers? Two patients in China that recovered from COVID-19 months ago tested positive again, raising concern about the virus’s ability to linger and reappear in people whom it previously infected. A 68-year-old woman in the central Chinese province of Hubei, where the virus first surfaced in December, tested positive on Sunday – six months after she supposedly was diagnosed and recovered. Another man found to have contracted the diseas … |
| Competition Secured: Cadillac’s Stunning New Electric SUV Will Start At Under $60,000Competition Secured: Cadillac’s Stunning New Electric SUV Will Start At Under $60,000 Tyler Durden Thu, 08/13/2020 – 11:50 As Tesla’s valuation continues to rocket toward $300 billion, the company is officially facing an onslaught of competition from legacy car manufacturers. The latest to jump into the fray is Cadillac, who has confirmed they will be offering their luxury electric SUV, the Lyriq, for less than $60,000 – a competitive price point that was widely expected to be much higher. When Cadillac revealed the SUV last week, they did not put a price point on the model. The Lyriq is going to boast more than 300 miles of range for both the rear-wheel and all-wheel-drive versions, according to electrek. The SUV, which is due out in 2022, will also offer 150 kW fast charging. |
| President Trump Unveils “Historic” Israel-UAE Peace PlanPresident Trump Unveils “Historic” Israel-UAE Peace Plan Tyler Durden Thu, 08/13/2020 – 11:37 President Trump just announced a “historic” deal that will see Israel and the UAE open full diplomatic relations and Israel suspend its annexation plans in the West Bank. The shock announcement Thursday marks perhaps the biggest diplomatic development out of the Middle East in decades, after the regime change war against Assad in Syria had for years reportedly brought Saudi-led gulf countries of the GCC into quiet, covert cooperation with Israel. Both Israeli Prime Minister Benjamin Netanyahu and President Donald Trump hailed the “historic day” in tweets confirming full normalization of diplomatic relations between prior enemies that had always lacked official recognition. Trump helped to broker the agreement, which also crucially involves Israel agreeing to halt its hugely controversial plans of annexing sections of the West Bank that included the sprawling Jordan Valley.
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| Jobs: Demand for workers picks up in early AugustRecruiters say the number of new job ads suggests that a slow recovery could be underway. |
| National Express to use jobs bonus to cut bus faresThe government’s job retention bonus scheme will be used to cut fares in the West Midlands and Dundee. |
| Michael Jordan: Rare trainers fetch $615,000 at auctionChristies sold nine pairs of the basketball legend’s shoes, including the “rarest of the rare”. |
| Inside India’s rule book to run private trainsInside India’s rule book to run private trainsThe draft document released on Wednesday states that private train operators have to maintain 95 per cent punctuality through the year. |
| NTA to SC: NEET-2020 can’t go onlineNTA to SC: NEET-2020 can’t go online”We could have proved our majority even without these 19 MLAs (Sachin Pilot and 18 MLAs who were supporting him) but it would not have given us happiness. We will bring a vote of confidence,” Gehlot said. |
| RCom IBC process to collapse sans spectrum: SBIRCom IBC process to collapse sans spectrum: SBIWithout any spectrum to use, the telco would cease to continue as a going concern and cannot be transferred as a going concern, as required by the Insolvency and Bankruptcy Code, SBI said in an affidavit filed Thursday in the top court, seeking to be made a party to the case. |
| Refinancing your mortgage will cost more thanks to a new fee from Fannie Mae and Freddie MacFannie Mae and Freddie Mac are rolling out a new ‘adverse market fee’ in light of the coronavirus pandemic. Critics of the move say it will cost homeowners thousands of dollars. |
| AMC will reopen Aug. 20 with celebration of 100 years in business ” and charge 1920 price of 15 cents a ticketAMC Entertainment Holdings Inc. shares soared 14% Thursday, after the biggest cinema chain operator in the U.S. said it will reopen its doors on Aug. 20 to celebrate 100 years in business, and will charge the 1920 price of 15 cents a ticket to mark the occasion. |
| NewsWatch: Coronavirus update: Global cases top 20.6 million and U.S. suffers biggest one-day death toll since MayThe number of confirmed cases of the coronavirus illness COVID-19 world-wide rose above 20.6 million on Thursday and the U.S. suffered its biggest death toll since May with almost 1,500 fatalities counted in a single day. |
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