13Aug2020 Market Close: Wall Street Closes Mixed Again, DOW Down 80 Points, Nasdaq Up 0.3%, $NDX Up 0.2%, Bonds And Stocks Battered After Bombed Auction, Silver Soars 27.29

Coach owner Tapestry is managing better online than other retailers during the pandemic. Here’s how

Tapestry’s gross margins grew to 69.8% during the fiscal fourth quarter, up from 66% a year ago. And management said sales online are carrying higher margins than sales in stores.

AMC shares spike as the largest movie theater chain in the U.S. preps for reopening

Investors rallied behind AMC Entertainment on Thursday, one week ahead of the theater chain’s highly anticipated reopening.

Bankrupted Stein Mart is closing all of its stores. Here’s a map of where they are

Stein 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 company expects higher delivery and takeout sales to continue long after the pandemic

Before the pandemic, only 20% of Brinker International’s sales came from takeout and delivery. Now, about half of its sales are off-premise.

Dr. Fauci on U.S. coronavirus outbreak: ‘I’m not pleased with how things are going’

U.S. public health officials are beginning to see a “disturbing” uptick in the rate of coronavirus tests that come back positive in some regions of the nation, Fauci said.

Amazon is delivering nearly two-thirds of its own packages as e-commerce continues pandemic boom

Despite Amazon’s surge in volume and the gains it made in self-delivery, UPS and FedEx also saw a boost in volume in July, according to Ship Matrix.

Coronavirus live updates: Georgia withdraws lawsuit over Atlanta mask mandate

The coronavirus has infected more than 20.6 million people around the world as of Thursday, killing at least 750,400 people.

WHO warns against coronavirus ‘vaccine nationalism and risk of price gouging’

WHO Director-General Tedros Adhanom Ghebreyesus said that the development of vaccines is risky and some may fail. He said spreading the investment in vaccine development among different countries shares the risk of failure and the reward of success.

Scientists say the coronavirus is at least as deadly as the 1918 flu pandemic

The 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, researchers say.

Empty apartments in Manhattan reach record high, topping 13,000

Continued slow activity suggests that Manhattan’s real estate and economic troubles could extend well into the fall or beyond.

Departure of GM CFO Dhivya Suryadevara highlights ongoing ‘brain drain’ problem for auto industry

As 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.

American Airlines prepares to drop some service to smaller cities as expiration of federal aid nears

American could announce route reductions as early as next week and the changes would likely affect small to midsize cities.

Bonds & Stocks Battered After Bombed Auction, Silver Soars

Bonds & Stocks Battered After Bombed Auction, Silver Soars Tyler Durden Thu, 08/13/2020 – 16:00

Everything was lining up nicely for a new record high in the S&P 500 this morning after the better than expected claims data (only 963,000 Americans filed for first time claims last week!!)… and then the 30Y auction hit (at 1400ET) and was a disastrophe coinciding with a spike back above the record closing high for the S&P…

David Portnoy Says Bitcoin Is Going To “12000000000”

David Portnoy Says Bitcoin Is Going To “12000000000” Tyler Durden Thu, 08/13/2020 – 15:45

David Portnoy has been having a good Thursday. Earlier, Goldman Sachs’ research department initiated Penn National – Portnoy’s stake in the company from the Barstool deal comprises the bulk of his wealth – with a price target of $60 a share, 20% higher than the price at Wednesday night’s close. As a result, the stock soared.

Gold Prices Show There’s A “Big Short” Going On In Official Currencies

Gold Prices Show There’s A “Big Short” Going On In Official Currencies Tyler Durden Thu, 08/13/2020 – 15:31

Authored by Thorstein Polleit vioa The Mises Institute,

On August 4, 2020, the price of gold surpassed $2,000 per ounce.

Chinese City Finds Traces Of COVID-19 On Chicken-Wing Packaging

Chinese City Finds Traces Of COVID-19 On Chicken-Wing Packaging Tyler Durden Thu, 08/13/2020 – 15:12

China is once again implying that “imported” COVID-19 cases may have been caused by imported foodstuffs. First it was shrimp and salmon from Norway and Ecuador, now it’s frozen chicken wings from Brazil.

Jobs: Demand for workers picks up in early August

Recruiters say the number of new job ads suggests that a slow recovery could be underway.

Fornite removed from iPhone App Store as Epic Games sues

Epic Games said it was taking Apple to court over monopolistic policies.

New Look in new bid to turn fortunes around

The fashion chain wants landlords to accept rents based on the sales stores generate.

Inside India’s rule book to run private trains

Inside 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.

Pilot meets Gehlot, handshake signals his return

Pilot meets Gehlot, handshake signals his returnPilot and Gehlot shook hands in a moment marking the return of the sacked deputy chief minister and 18 other dissident MLAs to the party-fold, after the intervention earlier this week by the top Congress leadership in Delhi. Their meeting was followed by the Congress Legislature Party meeting, ahead of Friday’s assembly session.

Covaxin is safe, show phase I results

Covaxin is safe, show phase I results œThe vaccine is safe. We have not observed any adverse events in any of the volunteers at our site, said Savita Verma, principal investigator, who is leading the trial at PGI, Rohtak.

Here are all the ‘Going-Out-of-Business’ sales for 112-year-old Stein Mart stores

A day after Stein Mart filed for bankruptcy, saying it expects to close œa significant portion, if not all of its stores, it was announced that all 279 U.S. stores across 30 states were closing through œGoing-Out-of-Business sales.

A Chinese IPO just raised more than $2 billion amid tensions between U.S., China

Shares of KE Holdings Inc., a Chinese online property platform, soared 87% in a blockbuster public debut Thursday that raised more than $2 billion despite the imminent threat of a hostile U.S. government.

In a true Battle Royale, Apple and ‘Fortnite’ maker appear headed for a courtroom

The maker of œFortnite has launched a Battle Royale against Apple Inc., accusing it of seeking to unlawfully maintain its monopoly.