Written by Gary
US stock futures are steady this morning (SPY +0.3%). Stocks making the biggest moves in the premarket: Sanofi, Barrick Gold, Nvidia, and Home Depot.
Here is the current market situation from CNN Money | |
 | European markets are higher today with shares in London leading the region. The FTSE 100 is up 0.62% while Germany’s DAX is up 0.28% and France’s CAC 40 is up 0.18%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
 | Flight attendants turn to dog walking, contact tracing for extra income as they brace for job cutsAmid the coronavirus, thousands of flight attendants are preparing for a potential furloughs this fall when the terms of federal aid expire. |
| A flood of job losses looms as airline industry struggles in pandemicA cascade of job losses loom for aviation amid the coronavirus pandemic as manufacturers work through cuts and airline aid is set to expire. |
| Forty percent of U.S. Covid-19 tests come back too late to be clinically meaningful, data showPublic health experts say Covid-19 test results need to be returned within two to three days to be clinically meaningful. A CNBC/Dynata survey of 9,444 Americans in all 50 states shows almost 40% of tests took longer. And there’s major variation state by state. |
| Lucid Motors has ambitious plans to defy skeptics and take on TeslaLucid CEO Peter Rawlinson says the company has the cash, technology and talent to defy skeptics and become one of the first real rivals to Tesla. |
| Sweltering heat is shattering records, triggering power outages across CaliforniaAcross the country, some 150 million people are set to experience temperatures hotter than 90 degrees over the next week. |
| 5 things to know before the stock market opens MondayU.S. stock futures are steady Monday, with the S&P 500 less than 1% away from its Feb. 19 record close. |
| Why Hertz landed in bankruptcy court when its rivals didn’tHertz was a pioneer in car rental and a highly recognized brand. But the company’s attempts to address its challenges left it unprepared for the Covid-19 pandemic, unlike its rivals. Now it is in bankruptcy court and struggling to survive. |
| Families of Sandy Hook massacre victims say Remington bankruptcy intentionally leaves them in the coldA federal bankruptcy judge could decide as soon as Tuesday whether to approve Remington’s plan to auction off parts of the company in September. |
| Coronavirus live updates: New Zealand delays election as cases climbThe coronavirus has infected more than 21.7 million people across the world as of Monday, killing at least 775,800 people. |
| Two of the most-hated stocks on Wall Street could be best recovery plays, traders sayShort traders are throwing cold water on hopes of a bump-free return to normalcy with consumer and travel stocks among those with the highest short interest. Two traders see opportunity in some of these unloved stocks. |
| Russia’s vaccine chief claims the West is trying to ‘lure’ away its scientistsThe head of Russia’s vaccine-developing body has claimed that Western research institutions are seeking to “lure” its scientists away to work for them. |
| Governments have collected large amounts of data to fight the coronavirus. That’s raising privacy concernsGovernments are globally scaling up digital technology to employ different methods of data collection in this health crisis, but the lack of a universal playbook on how privacy should be protected in a pandemic is proving problematic. |
| Here’s why postponing the U.S.-China trade deal review may not be a bad thingIt’s in the interest of the U.S. and China to have a little more time to review the progress of the phase one trade deal due to outstanding issues between the two, said David Dollar, senior fellow at the Brookings Institution. |
| Italy Closes Nightclubs As COVID-19 Revival Rocks Europe; US Deaths Top 1k For 5th Day: Live UpdatesItaly Closes Nightclubs As COVID-19 Revival Rocks Europe; US Deaths Top 1k For 5th Day: Live Updates Tyler Durden Mon, 08/17/2020 – 08:46 Summary: US deaths surpass 1k for 5th day Italy closes nightclubs India passes 50k deaths Australia suffers record death toll * * * When the world looks back on the early days of the coronavirus pandemic, the virus’s conquest of Lombardy, the northern Italian region surrounding Milan that’s known as the locus of Italian industry, will likely be remembered as a catalyst of the terror that quickly spread across Europe and the US. And now, after COVID-19 cases have steadily crept higher in recent weeks, it looks like Italy is preparing to to start reimposing restrictions on nightclubs and bars just after unveiling plans to re-start in-person learning across the country. |
| The ‘V’ Is Over – Empire Manufacturing Survey Slumps In August As New Orders DeclineThe ‘V’ Is Over – Empire Manufacturing Survey Slumps In August As New Orders Decline Tyler Durden Mon, 08/17/2020 – 08:37 While analysts expected a modest decline in the Empire Manufacturing survey (from 17.2 to 15.0), the soft sentiment signal tumbled to just 3.7, suggesting the exuberant rebound from the depths of lockdown is over… |
| Homebuilders Have Never, Ever Been More ConfidentHomebuilders Have Never, Ever Been More Confident Tyler Durden Mon, 08/17/2020 – 08:18 As Upton Sinclair is credited with saying, “it is difficult to get a man to understand something when his salary depends upon his not understanding it.” And that, some might argue, sums up the amazing surge in homebuilder sentiment in August, spiking from 72 to 78 (74 exp) – equalling its highest level in history (in Dec 1998)… Measure of present single family sales rises to 84 vs 78 last month Future single family sales gauge rises to 78 vs 75 last month Prospective buyers traffic measure rises to 65 vs 57 last month |
| White House Hammers Huawei With More Restrictions On Using American Chip TechnologyWhite House Hammers Huawei With More Restrictions On Using American Chip Technology Tyler Durden Mon, 08/17/2020 – 08:12 After President Trump last night gave ByteDance 90 days to divest TikTok’s US business, the Trump Administration kicked off a week that will be dominated by coverage of the Democrats’ “virtual” convention by doubling down on its attacks on Huawei at a particularly sensitive time for the telecoms giant, as we explained in a recent post about the discontinuation of production for a critical microchip.
Shortly after Reuters published the scoop, the Commerce Department confirmed its plans to further tighten restrictions governing the company’s access to chips made using American technology, even if these chips … |
| Morrisons considers ditching all ‘bags for life’ for paperThe grocer says customers are ready to stop using plastic bags and promises sturdy paper replacements. |
| Selfridges to offer clothing rental in environmental pushCustomers are demanding that businesses take environmental concerns seriously, says boss. |
| Coronavirus: Claims open for second self-employed support grantHM Revenue and Customs admits some people were paid too much when the first grants were distributed. |
| Amazon, Flipkart prepare for a shopping frenzyAmazon, Flipkart prepare for a shopping frenzyFive executives aware of the business projections said the two companies expect consumers will increasingly do their festive-season shopping online due to the pandemic, a trend evident in the success of recently concluded promotions earlier in the month. |
| Your tween knows all about this pandemic winnerYour tween knows all about this pandemic winnerRoblox said it has more than 2 million developers, 345,000 of whom make money and who split their profits 50-50 with the company. |
| Fans want Aamir’s new film to be most-dislikedFans want Aamir’s new film to be most-disliked #LaalSinghChaddha became one of the top trends on Twitter on Monday. |
| July 2020 Sea Container Counts Improve And Are Suggesting An Improving EconomyWritten by Steven Hansen The container counts for the Ports of Los Angeles and Long Beach improved month-over-month with imports in expansion year-over-year.
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| Putin pledges œassistance to Belarus. But he has many good reasons to stay outThe Russian government said that it stood ready œif necessary to assist embattled Belarus leader Alexander Lukashenko, as hundreds of thousands of protesters took to the street to demand he resign. |
| London Markets: Travel stocks slump in London after Germany warns over Spain’s coronavirus casesU.K. travel and leisure stocks slumped on Monday, as Germany warned over Spain’s rising coronavirus cases, fueling worries about an uptick in coronavirus cases in Europe. |
| Need to Know: Goldman Sachs just lifted its S&P 500 price target. Here’s whyGoldman Sachs is more optimistic than many on the U.S. economy. |
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