27Aug2020 Market Close: Wall Street Closes Mixed, Is It Getting Tired Or Confused, DOW Up 160 Points, Nasdaq Down -0.3%, WTI Inches Higher 42.96, Silver Shines At 27.05

Trump to announce $750 million deal with Abbott for at least 150 million rapid coronavirus tests

Trump plans to use his speech at the Republican National Convention to announce the deal, a White House official said.

Abercrombie & Fitch shares are soaring as the retailer reports profit amid online sales boom

“As long as you can reduce fixed costs, this shift to digital can be profitable,” Abercrombie & Fitch CFO Scott Lipesky said in a phone interview.

‘Don’t dial 911. No one’s going to answer’: Officials warn people who didn’t evacuate Hurricane Laura

As Hurricane Laura approached the Louisiana and Texas coasts, officials issued dire warnings for people hunkered down at home during the storm.

Second ex-United Auto Workers president charged with embezzling union funds

Former UAW President Dennis Williams was charged with embezzlement and defrauding the government as part of a multiyear corruption probe into one of America’s most prominent unions.

Walmart is teaming up with Microsoft on TikTok bid

Walmart said TikTok’s integration of e-commerce and advertising “is a clear benefit to creators and users in those markets.”

Routine cleaning and disinfecting leaves no trace of coronavirus on surfaces in hospital clinic, study finds

The samples were collected at the oncology facility during the height of the New Jersey’s outbreak. None of the samples returned positive for the coronavirus, the study found.

Forget back-to-school bargains: Retailers waiting it out as parents postpone purchases

Many retailers say they are still waiting to see strong demand for back-to-school shopping as parents and students put off purchases of fresh outfits, notebooks and glue sticks.

Here’s why homeowners should check their insurance even if Hurricane Laura misses them

Although many perils are covered under the standard part of your homeowners insurance policy, some weather-related events qualify for coverage differently ” and some may not be covered at all.

‘It needs to stop’ ” Kings co-owner says NBA teams stand with players against racial injustice

“The frustration that the players feel is something that’s felt broadly among the ownership group, too. We want to see change,” Sacramento Kings co-owner Chris Kelly told CNBC.

Coronavirus live updates: Abbott Labs’ $5 rapid test gets approval; 5 states paying $300 unemployment boost

The coronavirus has infected more than 24.27 million people around the world so far, killing at least 827,801 people.

CDC defends controversial new guidance for coronavirus testing: ‘Everyone who wants a test does not necessarily need a test’

“Everyone who wants a test does not necessarily need a test,” CDC Director Dr. Robert Redfield said in a statement late Wednesday.

Hudson Yards developer says Related is collecting 50% of rents on New York City malls

“Retail is obviously struggling,” Related Cos. Chief Executive Jeff Blau told CNBC’s “Squawk Box” on Thursday morning.

25% of U.S. malls are expected to shut within 5 years. Giving them a new life won’t be easy

What is going to happen to America’s dead malls? That’s a million-dollar question plaguing retailers and real estate developers.

“I Don’t Think There Should Be Any Debates” Says Pelosi, Calling Them An “Exercise In Skullduggery”

“I Don’t Think There Should Be Any Debates” Says Pelosi, Calling Them An “Exercise In Skullduggery” Tyler Durden Thu, 08/27/2020 – 15:55

Nancy Pelosi has just joined the chorus of prominent Democrats trying desperately to avoid placing Joe Biden in front of the proverbial firing squad in a debate with President Trump.

With No Buyer In Sight, Lord & Taylor Liquidates All Stores

With No Buyer In Sight, Lord & Taylor Liquidates All Stores Tyler Durden Thu, 08/27/2020 – 15:50

By RetailDive,

It looks like nobody will ever know if the tie-up between an online apparel site and a storied department store would have worked.

Bankrupt Le Tote and Lord & Taylor on Tuesday said all 38 department store locations have begun going-out-of-business sales, adding a final few to the 24 already in progress.

The company said it is “still entertaining various opportunities” in hopes of selling itself as a going concern, according to an emailed press release.

But in a statement, Chief Restructuring Officer Ed Kremer said the liquidations are “prudent” in order to maximize the value of the stores’ inventory.

When Le Tote took over Lord & Taylor last year, several observers scoffed, while others noted it was the first time in a long time that the department store’s parent had any interest in it beyond its real estate. While former owner Hudson’s Bay Co. found willing buyers for Lord & Taylor’s buildings, including its famous Italianate flagship in New York, for example, its merchandising and marketing were

‘He Is Rooting For This’: Biden Accuses Trump Of “Encouraging” Violence As Mayhem Begins To Affect Polls

‘He Is Rooting For This’: Biden Accuses Trump Of “Encouraging” Violence As Mayhem Begins To Affect Polls Tyler Durden Thu, 08/27/2020 – 15:35

Joe Biden has accused President Trump of “encouraging” the race riots because they’re “a political benefit” to his reelection campaign.

Elon Musk’s Net Worth Eclipses $100 Billion As The Fed Drives Inequality Gap Wider

Elon Musk’s Net Worth Eclipses $100 Billion As The Fed Drives Inequality Gap Wider Tyler Durden Thu, 08/27/2020 – 15:20

Of all the subsidies Elon Musk has received for Tesla, there has been none bigger than the Fed injecting trillions into the stock market to buoy stock prices in the midst of one of the worst recessions the country has ever seen.

And helping along the Fed are regulators, who seem to be perfectly content in Tesla’s mysterious and bewildering stock spike that has seen its shares nearly 10x off lows over the course of less than 18 months on little material news.

Pret A Manger to cut over a third of UK workforce

The sandwich chain will slash 3,000 roles as part of a rescue plan for the business.

Walmart joins Microsoft in bid for TikTok’s US operations

US retail giant Walmart is the latest firm to bid for the Chinese video sharing app’s US operations.

Fed relaxes inflation target in major policy shift

It will give the central bank more flexibility in how it aids the US recovery, says Chair Jerome Powell.

Further exam delay untenable: Education minister

Further exam delay untenable: Education ministerEvery day, I get innumerable emails from parents and students who wish that the examinations should be conducted. Parents and students say they are under stress and preparing for exams for the past 2-3 years, education minister said.

What makes Divi’s different from its Nifty peers?

What makes Divi’s different from its Nifty peers?Unlike its peers, Divi is a pure-play active pharma ingredients (API) company and does not face the same challenges and risks as that of its peers predominantly engaged in formulations exports.

Anil Ambani won’t lose his shirt for some time

Anil Ambani won’t lose his shirt for some timeThe SBI had moved the NCLT to recover over Rs 1,200 crore from Anil Ambani under the personal guarantee clause of the bankruptcy law.

The Tell: Options bets that the stock market will continue to soar have exploded to dot-com bubble levels

Even as the stock market is trading in record-setting territory despite the economy being in the throes of a viral pandemic, Wall Street bets for further gains are around their highest levels since the dot-com bubble, according to research from Bespoke Investment Group.

Key Words: President Trump welcomes the support, but Lindsey Graham pronounces QAnon ‘batsh ” crazy’

When President Trump was given the chance earlier this month to denounce QAnon, a festering far-right conspiracy theory, he instead suggested that he appreciates the movement’s support and described believers as “people who love our country.

Bond Report: 10-year Treasury yield nears 0.75% after Fed says it will aim for 2% average inflation

U.S. long-term Treasury yields spiraled higher on Thursday after Federal Reserve Chairman Jerome Powell said it would aim for an average annual inflation rate of 2%, wrapping up the central bank’s review of its policy approach and goals.