25Aug2020 Pre-Market Commentary: Wall Street Set To See Record Highs, DOW Up 163 Points, WTI Up Fractionally 42.93, US Dollar Down 93.17, Salesforce, Amgen And Honeywell Added To DOW

Here is the current market situation from CNN Money

European markets are higher today with shares in France leading the region. The CAC 40 is up 0.95% while Germany’s DAX is up 0.68% and London’s FTSE 100 is up 0.09%.

Best Buy says online sales in U.S. surged 242% in second quarter, but shares slide as gains may be short-lived

Best Buy is one of the retailers that has benefited from stay-at-home trends during the pandemic, such as working from home and attending school remotely.

Coronavirus live updates: Fauci warns that rushing a vaccine could disrupt trials

The coronavirus has infected more than 23.6 million people across the world as of Tuesday, killing at least 813,700 people.

Papa John’s growth streak continues into August as it sees North America same-store sales up more than 24.2%

As consumers flock to carryout and delivery during the pandemic, Papa John’s has extended its growth streak into August.

AstraZeneca starts trial of coronavirus antibody treatment

The British drugmaker’s Covid-19 vaccine candidate is already among the most advanced.

Cautious optimism in fight against massive California blazes

Firefighters were cautiously optimistic as they struggled to pen in California wildfires that have killed at least seven people and burned more than 1,200 homes and other buildings.

Fierce storm surge feared as Tropical Storm Laura bears down on the Gulf Coast

Tropical Storm Laura entered the warm and deep waters of the Gulf of Mexico on Tuesday, gathering strength on a path to hit the U.S. coastline as a major hurricane that could unleash a surge of seawater higher than a basketball hoop and swamp entire towns.

Here’s why new cases of the coronavirus are down across most of the U.S.

“I would not be surprised if we see an uptick after Labor Day in cases,” Catherine Troisi, an infectious disease epidemiologist at UTHealth School of Public Health in Houston, said.

Delta plans to furlough more than 1,900 pilots in October

Delta says it’s preparing to furlough more than 1,900 pilots in October after federal aid prohibiting job cuts expires.

As shopping picks up during pandemic, the gap widens between retail’s haves and have-nots

The coronavirus pandemic and resulting lockdowns have underscored the widening gulf between retail’s haves and have-nots, as shopping picks up again and American consumers vote with their dollars.

When is Starbucks Pumpkin Spice Latte returning this year?

The Pumpkin Spice Latte has been welcoming fall for 17 years.

Scientists doubt convalescent plasma touted by Trump is a ‘breakthrough’ coronavirus treatment

Convalescent plasma is one of several therapies being tested as a potential treatment.

LVMH and Tiffany push back deal deadline by 3 months, source says

Under the deal terms, Tiffany and LVMH set Aug. 24 as the first deadline to complete, but with the proviso that one of the parties could push back that deadline as far as Nov. 24.

One airline stock is ‘simply the best’ once air travel demand normalizes, trader says

Airline stocks are taking off again and Mark Tepper of Strategic Wealth Partners says Delta is the best.

Mortgage Delinquencies Soar To Decade High

Mortgage Delinquencies Soar To Decade High Tyler Durden Tue, 08/25/2020 – 08:35

Readers may recall last week we outlined the dam of pent up mortgage delinquencies continued to crack, with the share of delinquent Federal Housing Administration’s loans hitting a record high in the second quarter.Â

With millions of Americans out of work due to the virus-induced recession, their personal income has become overly reliant on Trump stimulus checks, as we’ve outlined, a quarter of all personal income now comes from the government.Â

Previewing Powell’s J-Hole Jawbone: “Buy Gold In Case It All Goes Wrong…”

Previewing Powell’s J-Hole Jawbone: “Buy Gold In Case It All Goes Wrong…” Tyler Durden Tue, 08/25/2020 – 08:15

Authored by Bill Slain via MorningPorridge.com,

œ There are three ways to make a living on Wall Street; be first, be smarter, or cheat.

As yet another storm batters the UK, I drove she-who-is-Mrs-Blain to the station early this morning. The brave little soldier is going up to her office in London today for the first time since March!Â

The S&P hits another record high, but headlines this morning include the first documented case of reinfection with COVID 19. Some 5 months after suffering the virus, a Hong Kong chap has contracted a different strain of the virus while in Europe.

Apparently, its œnothing to worry about , as the fellow œmight’ have had very low antibody levels from the first mild infection, and the vaccines being developed œshouldn’t be rendered ineffective because virus mutations won’t change the way it binds to cells and triggers an immune response.Â

Hmm.. Trying to cut through the noise ¦ It sounds like COVID is going to be just like flu ” immunologists guessing w …

Futures Punch To New Record High After US-China Reaffirm Committment To Trade Deal

Futures Punch To New Record High After US-China Reaffirm Committment To Trade Deal Tyler Durden Tue, 08/25/2020 – 07:59

Three things send the market higher these days: i) optimism that Congress will finally renew the fiscal stimulus which expired on July 31; ii) optimism that a covid vaccine will miraculously fix the global economy, and iii) in a throwback to 2019 optimism on the US-China trade deal. We got a dose of iii) late on Monday when the USTR reported that top U.S. and Chinese trade officials reaffirmed their commitment to a Phase 1 trade deal which has seen China lagging on its obligations to buy American goods, with a call (originally scheduled for Aug 15) in which both sides saw “progress and are committed to taking the steps necessary to ensure the success of the agreement”, and demonstrating a willingness to cooperate even as tensions rise over issues ranging from data security to democracy in Hong Kong.

Given the exchanges between the U.S. and China recently “have been negative, any small bit of positivity is seen as a big step forward, even when it isn’t,” said David Madden, market analyst at CMC Markets UK. It was certainly enough to push US equity futures higher for a fourth straight session, with the Emini punc …

“From Cotton To Congress In 1 Generation” – Black Republicans Back Trump During RNC Night 1

“From Cotton To Congress In 1 Generation” – Black Republicans Back Trump During RNC Night 1 Tyler Durden Tue, 08/25/2020 – 06:33

Republicans wasted no time during the first night of the Republican National Convention from laying out their vision for America, a vision that rests on the spirit of national revival and unity, standing in contrast to the hysterical warnings about “the fate of our democracy” and the bankrupt ideology of identity politics.

Keynote speaker Tim Scott, the only black male Republican in all of Congress, topped a diverse bill of speakers that underscored the fact that Republicans under Trump haven’t given up on courting minority votes, even as Democrats have declared themselves the ‘saviors’ of minority groups – so long as they don’t accumulate too much wealth and power.

Speaking of his humble upbringing in South Carolina, Scott recounted how a mentor taught him the life-changing power of building companies and creating jobs.

The senator shared an incredibly moving tale about how his grandfather had been forced to leave school in the third grade to pick cotton. But he still lived long enough to see his grandson become t …

KFC drops Finger Lickin’ Good slogan amid coronavirus

The fast food giant says the slogan will be paused as it “doesn’t quite fit” during the pandemic.

Co-op Bank to shed 350 jobs and close branches

Economic uncertainty and the shift to online banking have prompted the cuts, the bank says.

Virgin Atlantic awaits key vote on survival deal

The airline agreed the £1.2bn rescue deal in July to secure its future beyond the coronavirus crisis.

Covid Impact: RBI to tighten oversight

Covid Impact: RBI to tighten oversight”In tandem with the evolving regulations, the supervisory approach of the Reserve Bank will have to be two-pronged – first, strengthening the internal defences of regulated entities; and second, greater focus on identifying the early warning signals and initiating corrective action,” RBI said.

Let off Bhushan with a rap: AG tells SC

Let off Bhushan with a rap: AG tells SCThe Supreme Court heard arguments on the possible sentence that could be awarded to Bhushan over his remarks and eventually reserved its ruling on the issue. The Contempt of Courts Act prescribes a maximum punishment of six months in jail or fine or both.

Why steel stocks target prices are up 30-40%

Why steel stocks target prices are up 30-40%Several brokers have raised the target prices of top steel company stocks by at least 30-40%. Analysts believe that steel price increases, paced by improved domestic demand, should boost second-quarter performance.

Mark Hulbert: Exxon getting booted from the Dow Jones Industrial Average may be a blessing in disguise for its investors

Stocks deleted from an index often proceed to beat the additions

Market Snapshot: Dow futures rise after announced shake-up to the index, S&P 500 on track to add to record run on upbeat trade talks

Stock-index futures point to more gains Tuesday after U.S. and Chinese officials reaffirmed their commitment to the so-called phase one trade deal.

Sweden developed herd immunity after refusing to lock down, some health experts now claim, while others point to its high fatality rate

Experts around the world cannot agree on whether the right approach is to open up schools, scale back lockdowns, and wear masks.