Written by Gary
Apple and Tesla rise after their stock splits and Beyond Meat gets a boost from an analyst upgrade (SPY -0.03% flat). Stocks making the biggest moves midday: Apple, Tesla, Beyond Meat, Amazon.
Here is the current market situation from CNN Money | |
 | North and South American markets are broadly lower today with shares in Mexico off the most. The IPC is down 1.65% while Brazil’s Bovespa is off 1.39% and U.S.’s S&P 500 is lower by 0.08%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| Canada to purchase 76 million doses of Novavax coronavirus vaccine, company saysThe agreement is contingent on the vaccine getting a license from Health Canada, the company said. |
| McDonald’s slams ex-CEO as ‘morally bankrupt’ after he asks for dismissal of chain’s lawsuit against himMcDonald’s slammed former CEO Steve Easterbrook in a new legal filing, arguing that he should have to defend his conduct in court. |
| Coronavirus cases climb in the Midwest as more states report growing outbreaksCoronavirus cases in the Midwest are beginning to emerge following warnings from top U.S. health officials. |
| GlaxoSmithKline and partner Vir join the race to find a coronavirus antibody treatmentGlaxoSmithKline and partner Vir Biotechnology have started testing their experimental antibody on early-stage Covid-19 patients. |
| FDA willing to fast track coronavirus vaccine before phase three trials endThe chief of the Food and Drug Administration told the Financial Times he is willing to bypass the standard approval process to make a vaccine available as soon as possible. |
| Stocks making the biggest moves midday: Apple, Tesla, Beyond Meat, Amazon & moreApple and Tesla rise after their stock splits and Beyond Meat gets a boost from an analyst upgrade. |
| Coronavirus vaccine before election unlikely ” Dr. Gottlieb on FDA chief’s possible fast-track“It’s more likely that you’re going to get a read out from those trials in November,” former FDA chief Dr. Scott Gottlieb told CNBC. |
| There’s big demand among the high net worth for Virgin Galactic spaceflights, Cowen survey showsA Cowen survey found that about 39% of people with a net worth of more than $5 million are interested in paying at least $250,000 for a Virgin Galactic flight to the edge of space. |
| Watch live: World Health Organization holds a press briefing on the ongoing coronavirus outbreakWHO Director-General Tedros Adhanom Ghebreyesus added that countries and the public must find a way to bring their outbreaks under control and within a manageable level. |
| United CEO says air travel demand will roar back once there’s a coronavirus vaccine“We’ve got a tough year ahead until there’s a vaccine,” United CEO Scott Kirby said. “The good news is, I can see the light at the end of the tunnel.” |
| Op-ed: Cybersecurity is the ‘blind spot’ that can derail some of Wall Street’s biggest M&A dealsWall Street has a blind spot that could hurt the next wave of mergers and acquisitions. It is failing to factor in cybersecurity in the due diligence process. |
| United Airlines scraps ticket-change fees for domestic flights in bid to win over customersUnited Airlines is making its tickets more flexible in a bid to win over customers after the pandemic devastated demand. |
| 5 things to know before the stock market opens MondayU.S. stock futures were mixed Monday on the last day of August. The S&P 500 closed above 3,500 on Friday for the first time ever. |
| Elon Musk Surpasses Zuckerberg As The World’s Third Richest Person With A $110BN Net WorthElon Musk Surpasses Zuckerberg As The World’s Third Richest Person With A $110BN Net Worth Tyler Durden Mon, 08/31/2020 – 12:33 While the broader market is finally taking on some water, the two stocks that have come to define the bubble euphoria gripping the market – AAPL and TSLA – continue storming higher. The move is perplexing virtually everyone – except those who are buying probably – because most somewhat serious analysts had expected investors to buy into the stock split frenzy but sell afterward. Instead, the pre-split buying has continued, resulting in such laughable titles from Bloomberg seeking to “goalseek” what is going on. |
| The Last Time This Happened Was The Day The Dot-Com Bubble BurstThe Last Time This Happened Was The Day The Dot-Com Bubble Burst Tyler Durden Mon, 08/31/2020 – 12:20 The last few weeks have seen something ‘odd’ happening. VIX has been ‘rising’ as stocks soared to record highs. |
| Louisiana Food Banks Overwhelmed As Recession And Hurricane Spikes DemandÂLouisiana Food Banks Overwhelmed As Recession And Hurricane Spikes Demand Tyler Durden Mon, 08/31/2020 – 12:05 Food banks were already under stress before Hurricane Laura devastated parts of southern Louisiana last week. Many of these charities, were providing meal assistance to hungry families affected by the virus-induced downturn in the economy. Now they must provide meals for people who have lost their homes because of the natural disaster. “It’s literally one crisis on top of another,” Jay Vise, the director of communications and marketing of Second Harvest Food Bank, told 4WWL New Orleans, who referred to the increasing demand seen at his food bank. |
| Twisted Picture Of A Consumer Economy Running On Fumes Of StimulusTwisted Picture Of A Consumer Economy Running On Fumes Of Stimulus Tyler Durden Mon, 08/31/2020 – 11:45 Authored by Wolf Richter via Wolf Street, Incomes from wages, interest, and dividends sagged from pre-Pandemic era. But stuffed with stimulus, Americans broke records splurging on Goods, as spending on Services, the biggie, lagged far behind. |
| Last day for an Eat Out to Help Out discountBusinesses want the scheme to be extended, saying October and November are the “biggest worry”. |
| TikTok owner to ‘strictly’ obey China’s tech takeover lawNew rules mean Beijing could block the sale of the app’s video recommendation engine. |
| Price of plastic carrier bags in England to double to 10p next yearThe fee for single-use bags will rise to 10p and be extended to all shops from April 2021. |
| Supreme Court’s AGR ruling on TuesdaySupreme Court’s AGR ruling on TuesdayThe government has sought a 20-year time frame for telcos to pay back their balance AGR dues, while the two most affected telcos- Vodafone Idea (over Rs50,400 crore balance dues) and Bharti Airtel (nearly Rs 26,000 crore balance) have sought 15 years. Vodafone Idea has warned it would be forced to shut shop if made to pay its dues at one go. |
| Nation mourns losing its worthiest sons: PrezNation mourns losing its worthiest sons: PrezPranab Mukherjee was 84. He was being treated at Army’s Referral hospital after a brain surgery. |
| Former President Pranab Mukherjee dies at 84Former President Pranab Mukherjee dies at 84On August 10, Mukherjee was admitted to the hospital after testing positive for Covid-19, after which he underwent a surgery following the detection of a brain clot. |
| The Tell: Women money managers have an edge over men during the pandemic of 2020. Thank tech stocks for thatHere’s how female fund managers have topped their male counterparts this year. |
| Key Words: After scoring 50 points, NBA star Jamal Murray talks about his custom sneakers with pictures of Breonna Taylor and George Floyd ” ‘These shoes give me life’œThese shoes give me life. Even though these people are gone, they give me life |
| Election: Biden to blast Trump for having ‘fomented’ violence, as presidential race tightensJoe Biden on Monday is expected to attack President Donald Trump as having sparked recent violence. Ahead of Biden’s speech in Pittsburgh, the Trump campaign made a counterattack. |
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