Written by Gary
Stocks making the biggest moves midday: Barrick Gold, Tesla, Teladoc, and Home Depot (SPY +0.3%). The debt-inflation spiral is driving up the demand for gold.
Here is the current market situation from CNN Money | |
 | North and South American markets are mixed today. The IPC is up 0.38% while the S&P 500 gains 0.31%. The Bovespa is off 1.26%. |
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. |
| Stocks making the biggest moves midday: Barrick Gold, Tesla, Teladoc, Home Depot & moreBarrick Gold gets a boost after Berkshire Hathaway discloses a stake in the company. Teladoc jumped on a Credit Suisse upgrade. |
| New York gyms can reopen with coronavirus precautions as soon as Aug. 24, Gov. Andrew Cuomo says“If it’s not done right, it can be a problem and we’ve seen that,” New York Gov. Andrew Cuomo said about reopening gyms. |
| Ram 1500 TRX: Fiat Chrysler unveils 702-horsepower Hellcat pickupThe Ram 1500 TRX is expected to go on sale this year ” starting at $71,690 ” as a new halo vehicle for the brand in an attempt to greater differentiate it from Chevrolet and Ford, the industry’s truck leaders by sales. |
| Pizza Hut to close up to 300 locations operated by bankrupt franchiseeYum Brands’ Pizza Hut will close up to 300 locations after the pizza chain struck an agreement with its largest U.S. franchisee, NPC International, which filed for Chapter 11 bankruptcy last month. |
| Barneys’ savior Authentic Brands is sitting on about $1 billion in cash and on the hunt to buy more troubled retailersJamie Salter may not be a household name, but he’s one of the retail industry’s best chances of saving long-loved brands from joining Woolworth and Blockbuster as once-great also-rans. |
| Dr. Scott Gottlieb: Yale’s new saliva coronavirus test funded by NBA could be widely rolled out“It’s also been cross-validated on just about every popular platform for doing testing,” the former FDA chief told CNBC on Monday. |
| Watch live: New York Gov. Andrew Cuomo updates the public as more businesses reopenNew York Gov. Andrew Cuomo has repeatedly said that the situation in New York is precarious and that reopening too quickly could allow the virus to spiral out of control again. |
| Nike to feature Andre Agassi-inspired line for upcoming US OpenWhen Nike athletes hit the courts at the upcoming U.S. Open, their apparel and footwear will pay tribute to Andre Agassi, who transformed tennis three decades ago. |
| Universities Ask Students To Play ‘Corona-Cops: Report Peers Who ‘Might’ Have COVID-19Universities Ask Students To Play ‘Corona-Cops: Report Peers Who ‘Might’ Have COVID-19 Tyler Durden Mon, 08/17/2020 – 12:20 Authored by Adam Sabes via Campus Reform, As colleges across America reopen for in-person learning this fall, some are asking students to report peers who might not be following guidelines that universities have set up to prevent the spread of COVID-19. |
| Rolling Blackouts, Prolonged Heatwave, And ‘Fire-nados’ Sends California To The Brink     ÂRolling Blackouts, Prolonged Heatwave, And ‘Fire-nados’ Sends California To The Brink      Tyler Durden Mon, 08/17/2020 – 12:00 Californians flocked to beaches, recreation areas, and lakes this past weekend to seek relief from one of the most extreme heat waves in a generation, straining the state’s power grid to the brink of collapse, reported Bloomberg. The heatwave brought triple-digit temperatures to parts of California over the last three days and sparked concerns of fiery tornados on Saturday.   |
| The Debt-Inflation Spiral Is Driving Up The Demand For GoldThe Debt-Inflation Spiral Is Driving Up The Demand For Gold Tyler Durden Mon, 08/17/2020 – 11:40 Authored by Alasdair Macleod via The Mises Institute, Measured in dollars, the current bull market for gold started in December 2015, since which its price in dollars has almost doubled. Other than the odd headline when gold exceeded its previous September 2011 high of $1,920, only gold bugs seem to be excited. But in our modern macroeconomic world of government-issued currencies, which has moved on from the days when gold operated as a monetary standard, it is viewed as an anachronism – a pet rock, as Jason Zweig of the Wall Street Journal called it in 2015, only a few months before this bull market commenced. |
| Italy Closes Nightclubs As COVID-19 Revival Rocks Europe; Arizona Reports Fewest Cases Since May: Live UpdatesItaly Closes Nightclubs As COVID-19 Revival Rocks Europe; Arizona Reports Fewest Cases Since May: Live Updates Tyler Durden Mon, 08/17/2020 – 11:37 Summary: Arizona reports fewer than 500 new cases for first time since May US deaths surpass 1k for 5th day Italy closes nightclubs India passes 50k deaths Australia suffers record death toll * * * Update (1033ET): As the number of confirmed cases continues to fall across Florida, including in hard-hit Miami, Broward and Palm Beach, Florida reported its lowest daily tally since June yesterday, capping off a decline that has seen daily tallies reduced by 50%. The state reported just 3,779 new cases on Sunday, the lowest daily tally since June. Now, as we await the latest numbers on Monday, Arizona has reported just 468 new cases, along with zero new deaths. It was the first daily tally since May to reflect fewer than 500 new cases, and the new numbers took COVID-19’s tally to 194,000 along with 4,506 deaths, according to the Arizona Department of Health Services. |
| Ryanair cuts flights as EU virus rates hit bookingsThe airline said activity for September and October “notably weakened” over the past 10 days. |
| Morrisons considers ditching all ‘bags for life’ for paperThe grocer says customers are ready to stop using plastic bags and promises sturdy paper replacements. |
| Huawei: US tightens restrictions on Chinese giantThe actions will stop the firm buying computer chips made using US tech, even if made abroad. |
| Samsung is ready to dump its favourite destinationSamsung is ready to dump its favourite destination ‹ ‹Once Samsung’s move fructifies, the company will join iconic smartphone major Apple, which is also in the process of shifting a key part of its production line for smartphones to India. The global smartphone export market is about $270 billion. By value, Apple has a 38% market share and Samsung 22%. |
| NHRC issues notice to UP govt over alleged gangrapeNHRC issues notice to UP govt over alleged gangrapeIn the first case, the NHRC notice cites media reports that a 13 year old girl belonging to Scheduled Caste was gang-raped and killed when she had gone to relieve herself on the farmland owned by one of the accused on August 15. The body has also taken suo motu cognizance of a report that an Inspector of Govind Nagar police Station, Kanpur, Uttar Pradesh asked a 16 years old girl to dance in lieu of registering an FIR against the nephew of her landlord who has been molesting her. |
| Covid strain in Malaysia 10 times more potentCovid strain in Malaysia 10 times more potentThe mutation has become the predominant variant in Europe and the U.S., with the World Health Organization saying there’s no evidence the strain leads to a more severe disease. |
| Outside the Box: Lowe’s steals Home Depot’s crown during the pandemic, card transactions showHome Depot was the growth darling going into the pandemic, but that was soon to change. |
| PwC and Schroders expect more staff to work remotely after pandemic passesU.K. asset manager Schroders is rethinking the rulebook on flexibility. |
| : What did people do with their $1,200 stimulus checks? Finally an answer |
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