Written by Gary
Investors eyed increasing optimism around US-China trade prospects and a strong batch of corporate earnings results (SPY +0.8%).
Here is the current market situation from CNN Money | |
 | North and South American markets are mixed. The S&P 500 is higher by 0.73%, while the Bovespa is leading the IPC lower. They are down 1.43% and 0.90% respectively. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| From ‘happy hypoxia’ to purpuric rashes ” here are all the perilous ways the coronavirus attacks the bodyOnce thought to be a disease that primarily attacked the lungs, doctors now know Covid-19 can be unpredictable, manifesting a range of symptoms and placing stress anywhere in the body. |
| Dick’s Sporting Goods crushes Wall Street estimates as online sales surge 194%, shares soarDick’s Sporting Goods reported eye-popping quarterly earnings and sales growth as consumers flocked to its website for hiking gear, kayaks, weights and workout clothes to stay busy during the coronavirus crisis. |
| Coronavirus live updates: CDC quietly revises guidance on asymptomatic testing; Davos 2021 summit postponedThe coronavirus has infected more than 23.9 million people around the world so far, killing at least 820,100 people. |
| U.S. charges Teva in generic drugs price-fixing probeThe U.S. Justice Department charged Teva Pharmaceutical on Tuesday with conspiring with competitors to raise prices for generic drugs. |
| Nordstrom’s sales fall 53% as department store chain suffers store closures amid pandemicNordstrom said Tuesday its net sales fell 53% during the second quarter, as its stores took a hit from being temporarily closed during the coronavirus pandemic. |
| Hurricane Laura is now forecast to intensify to a catastrophic Category 4 as it nears U.S. Gulf CoastForecasters Hurricane Laura is now expected to rapidly power up into a ‘catastrophic’ Category 4 hurricane ” an even stronger storm than previously expected ” as it churns toward Texas and Louisiana. |
| Weather, reinforcements are helping in battling the California wildfiresThe deadliest and most destructive of the three in the wine country had containment lines around 25 percent of it that serve to prevent fires from burning more land. |
| Hurricane Laura, forecast to hit as Category 4, poses catastrophic threat to Louisiana and TexasHurricane Laura’s rapid intensification shocked scientists and prompted local officials to issue warnings of life-threatening storm surge in eastern Texas and Louisiana. |
| Real estate mogul Sam Zell calls retail a ‘falling knife’ that hasn’t hit a bottom yet“There is no question in my mind that retail is a falling knife, and we are for sure not at the bottom,” real estate mogul Sam Zell told CNBC. |
| Moderna says its coronavirus vaccine shows promising results in small trial of elderly patientsThe vaccine produced neutralizing antibodies, which researchers believe are necessary to build immunity to the virus, and killer T-cells, Moderna said. |
| Watch live: World Health Organization officials answer questions about coronavirus and mental healthThe United Nations, the parent organization of the WHO, has previously warned that the coronavirus pandemic “has the seeds of a major mental health crisis.” |
| Tips from a master negotiator on how to win the rent relief argument with a landlord during financial crisisChris Voss, former FBI hostage negotiator, mastered an art of the deal under stress that works, and his tips can help businesses and individuals struggling with rent during Covid-19. |
| The U.S. stock market has been making big moves in the summer of 2020. But, for investors nearing retirement, that momentum also brings up questions about how to best manage their assets given their retirement targets. |
| “It’s Showing Up In The Polling”: CNN’s Lemon Says Biden Needs To Stop Ignoring Riots Because They’re Helping Trump“It’s Showing Up In The Polling”: CNN’s Lemon Says Biden Needs To Stop Ignoring Riots Because They’re Helping Trump Tyler Durden Wed, 08/26/2020 – 12:00 CNN’s Don Lemon wants Joe Biden to stop ignoring violent race riots gripping the country – but not because of the crime, or the death, or the deep divide in America that’s caused the price of ammunition to skyrocket as mobs of unhinged leftists harass innocent people. |
| The Fed Faces A “Complete Nightmare”: Convincing The Public That Higher Inflation Is Good For ThemThe Fed Faces A “Complete Nightmare”: Convincing The Public That Higher Inflation Is Good For Them Tyler Durden Wed, 08/26/2020 – 11:55 Yesterday we explained why Bank of America, a contrarian voice among Wall Street banks, believes that hopes for an explicit announcement of Average Inflation Targeting by Jerome Powell in his highly-anticipated speech titled “Monetary Policy Framework Review” which wraps up an examination of inflation which started in early 2019 among both among central bank officials and the public, will be a disappointment. The first reason that an explicit policy would entail picking a specific time period over which PCE inflation is required to average 2% before beginning a policy normalization (hiking) process. This is a problem, because in simulations conducted by the BofA rates team, it found this could in require the Fed to remain on hold for 42 years! |
| Italy Sees Biggest Jump In New COVID-19 Cases Since Mid-May: Live UpdatesItaly Sees Biggest Jump In New COVID-19 Cases Since Mid-May: Live Updates Tyler Durden Wed, 08/26/2020 – 11:53 Summary: Florida reports 9,000 new cases in kids since schools reopened New Spanish data out Florida, Arizona cases hit Italy sees largest virus toll in 3 months New York reports latest data France imposes new restrictions in Marseilles Delhi outbreak worsens Myanmar suffers record jump as Muslim minority bears brunt * * * Update (1130ET): With the renewed focus on the outbreak in Africa as cases near 1.25 million, Kenya’s President Uhuru Kenyatta has extended a night-time curfew by another 30 days, ahead of a conference to review the East African nation’s response to the pandemic. Nightclubs and bars, which have been closed since March, will also remain closed for another 30 days. Italy just reported 1,367 new cases, its highest total in 3.5 months (May 12), taking its total to 262,540. However, the country also reported 93,529 tests in under 24 hours, roughly 20,000 more tests than have been performed in recent days, which could help explain the high tally. The country also reported 13 new deaths. Florida reported 3,220 new Florida COVID-19 cases overnight – slightly more than the prior day – and 155 … |
| “This Isn’t The Kenosha I Know” – Local Law Enforcement Believe Rioters Fueling Wisconsin Violence Travel From Chicago“This Isn’t The Kenosha I Know” – Local Law Enforcement Believe Rioters Fueling Wisconsin Violence Travel From Chicago Tyler Durden Wed, 08/26/2020 – 11:21 By now, conservatives across the US understand that most of the violence being caused in the aftermath of these police shootings isn’t organized by locals, but rather by bands of traveling activists who live in nearby metropolises. In the Midwest, that’s Chicago, a hub of racial activism since Bernie Sanders went to school there back in the 1960s. Some might be coming from Milwaukee as well. Just like we saw in New York City, many of the looters and people there committing acts of vandalism and violence are drawn from Chicago and other nearby areas. On Tuesday’s broadcast of the Fox News Channel’s “The Story,” Rep. Bryan Steil (R-WI) stated that local law enforcement in Kenosha, WI are “very concerned large numbers of people are coming up from Chicago and trying to disrupt the public safety in the community of Kenosha,” in the wake of the shooting of Jacob Blake. Meanwhile, left-wing pundits are already trying to frame the shooting as an act of white supremacist violence even though both the shooter and his victims were armed, and white. |
| Coronavirus: Some restaurants extend Eat Out to SeptemberSome eateries have decided to extend the discount scheme for another month to draw in more customers. |
| Coronavirus: UK worst hit among major economiesThe OECD think tank says the UK was the worst affected among major economies between April and June. |
| No plan for a return to the office for millions of staffFifty of the biggest UK employers say they have no plans to return all their staff full-time in the near future. |
| Sushant Rajput: Narcotics Bureau registers caseSushant Rajput: Narcotics Bureau registers caseThe NCB filed a criminal case against Rhea Chakraborty and others to probe their alleged dealings in banned drugs, an instance emerging from an investigation being conducted into the death of actor Sushant Singh Rajput, officials said. |
| Bangalore based start-up developing dronesBangalore based start-up developing dronesDetails of the project have not been shared yet but is likely to involve drones that act as force multipliers for combat aircraft on mission. The project would be one of the first success stories for the intergovernmental DTTI that has yet to show significant results, despite intense efforts by both India and US. |
| Paytm to hire over 1,000 people across businessesPaytm to hire over 1,000 people across businessesPaytm and its group businesses such as lending, insurance, wealth management and offline payments have been expanding operations, thereby creating the need to bring in more tech and non-tech employees. |
| Europe Markets: European stocks close higher as Germany extends COVID-19 relief packageEuropean stocks moved higher on Wednesday, as Germany extended its coronavirus stimulus package and investors awaited a key speech by Federal Reserve Chairman Jerome Powell. |
| A Word from the Experts: A lung doctor on what she’s learning about coronavirus ‘long haulers’: shortness of breath and fatigue, and depression but also ‘improvement over time’Back in April, Dr. Dixie Harris and about 100 nurses and doctors from the Intermountain Healthcare hospital system in Utah flew to New York City to work in the region’s overburdened hospitals. |
| Sweden’s herd-immunity ambitions are a pipe dream ” just ask the U.K.‘The sad fact is that herd immunity just isn’t a solution to our pandemic woes.’ |
Earnings Summary for Today
leading Stock Positions
Current Commodity Prices
Commodities are powered by Investing.com
Current Currency Crosses
The Forex Quotes are powered by Investing.com.
To contact me with questions, comments or constructive criticism is always encouraged and appreciated:
