Written by Gary
DOW and Nasdaq down as tech shares slump (SPY -2.6%). Apple stock on pace for worst day and Fauci warns on coronavirus vaccine timing.
Here is the current market situation from CNN Money | |
 | North and South American markets are mixed. The Bovespa is higher by 1.85%, while the S&P 500 is leading the IPC lower. They are down 2.84% and 1.45% respectively. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| Technology used to film ‘The Mandalorian’ could ease Covid-19 film production woesThe ongoing coronavirus pandemic has crippled film production in the U.S., causing shooting delays and hindering widespread travel. A technology developed for the Disney+ series “The Mandalorian” could be the solution. |
| Jeep Grand Wagoneer SUV to top $100,000 as brand’s luxury flagshipFiat Chrysler’s long-awaited Jeep Grand Wagoneer SUV will top $100,000 ” likely making it the brand’s highest priced vehicle as it attempts to compete against the Cadillac Escalade and Land Rover Range Rover. |
| GM and Honda to establish strategic alliance in North AmericaGeneral Motors and Honda Motor have signed a non-binding memorandum of understanding toward establishing a North American automotive alliance that includes collaborating on future vehicles and sharing purchasing costs. |
| Bill Gates-backed vehicle battery supplier to go public through SPAC dealQuantumScape, a developer of what are known as solid-state batteries, is also backed by Volkswagen. |
| Take a look at Burger King’s new ‘touchless’ restaurant designs with solar panels and outdoor seatingBurger King plans to new restaurants next year that feature a totally “touchless” customer experience, inspired by pandemic precautions. |
| Walmart gets creative, goes virtual as it plans for holiday toy shoppingAs Walmart prepares for the holiday season during the pandemic, it has relied on a virtual focus group of kids to pick the hottest toys, developed an online alternative to store demos and decided to ship more toys to fulfillment centers. |
| Coronavirus live updates: Pfizer vaccine trial may have results by October; Walmart plans for virtual toy shoppingThe coronavirus has infected more than 26 million people around the world so far, killing at least 863,700 people. |
| Gov. Reynolds defends Iowa State’s decision to host 25,000 fans at football stadium: ‘Don’t go if you don’t think it’s safe’“Don’t go if you don’t think it’s safe. Don’t go,” Iowa Gov. Kim Reynolds said while defending Iowa State University’s decision to host fans at a football game. |
| NYC Mayor de Blasio threatens to sue U.S. after Trump tries to withhold federal funds“Unfortunately, anarchy has recently beset some of our States and cities,” Trump wrote in the memo. |
| Executive action is powerful, but presidents can’t save the economy without the help of CongressExecutive orders are a powerful tool when presidents can’t agree with Congress. But that power is limited, especially when it comes to spending. After all, Congress holds the purse strings. Still, when pressure is mounting, presidents throughout history have used executive orders in hopes of trying to achieve their agenda. |
| English Premier League terminates lucrative Chinese TV deal with immediate effectThe Premier League has ended a major contract with Chinese streaming service PPTV that’s worth around $650 million. |
| Watch live: Mayor Bill de Blasio holds press briefing after Trump threatens to defund New York CityNew York City Mayor Bill de Blasio plans to hold a press briefing Thursday after President Donald Trump threatened to withhold federal funding to “lawless” cities. |
| SpaceX’s Starlink internet shows fast speeds during early tests, capable of gaming and streamingEarly tests of SpaceX’s Starlink satellite internet network showed speeds capable of playing online video games and streaming movies. |
| Trump Slams Cuomo Over ‘Nursing Home Scandal’ After Veiled Death ThreatTrump Slams Cuomo Over ‘Nursing Home Scandal’ After Veiled Death Threat Tyler Durden Thu, 09/03/2020 – 11:40 Just days after we reported that New York Gov Andrew Cuomo and his army of bureaucrats were stonewalling a DoJ fact-finding mission into a policy that many suspect may have contributed thousands of undisclosed nursing home deaths (on top of the 6,000 who actually died in their long-term care homes), President Trump delivered an epic taunt. |
| Stocks Are Crashing, VIX Spikes As Option-Players Panic-Buy ProtectionStocks Are Crashing, VIX Spikes As Option-Players Panic-Buy Protection Tyler Durden Thu, 09/03/2020 – 11:28 VIX is back above 30… |
| Lira Sinks To Record Low As Russian Naval Drills To Commence In Mediterranean Waters Claimed By TurkeyLira Sinks To Record Low As Russian Naval Drills To Commence In Mediterranean Waters Claimed By Turkey Tyler Durden Thu, 09/03/2020 – 11:24 In a huge and surprising development, Russian warships will hold live-fire exercises in eastern Mediterranean waters claimed by Turkey starting next week, amid the ongoing and increasingly militarized dispute over maritime boundaries and hydrocarbon drilling rights which has put Turkey and Greece on a war footing. Russia did not immediately confirm the announcement out of Ankara, subsequently reported by Turkey’s TRT World, which seized upon the news in relation to its controversial gas exploration claims:Â
|
| Dr. Fauci Says COVID Vaccine By November “Not Likely”; Spain Rejects Lockdown As Europe Falters: Live UpdatesDr. Fauci Says COVID Vaccine By November “Not Likely”; Spain Rejects Lockdown As Europe Falters: Live Updates Tyler Durden Thu, 09/03/2020 – 11:21 Summary: Spain health minister says no lockdown needed as cases climb Mexico leads world in health care worker deaths Bolivia reports 100+ daily deaths for first time Fauci pours cold water on administration’s vaccine timeline France approves Europe’s largest national rescue program worth $118 billion Europe recovery falters Pfizer says vaccine results will be in by Nov. 1 Dr. Fauci names 7 vulnerable states Thailand breaks 100 day streak of no local infections India also notched record single-day testing Sanofi, GlaxoSmithKline have more optimistic vaccine news CDC warns states to prepare for vaccines by November First COVID vaccine results due later this month India posts another record daily jump in cases Victoria sees cases pop back above 100 China sees first international flights from countries after dropping travel restrictions Brazil nears 4 million confirmed cases “The Rock” reveals COVID diagnosis for himself, family * * * Update (1115ET): While the situation in parts of Europe wor … |
| Amazon to create 7,000 UK jobsThe online retail giant is recruiting at more than 50 sites in response to growing customer demand. |
| Costa Coffee warns up to 1,650 jobs are at riskThe coffee chain says there are still “high levels of uncertainty” as to when trade will recover. |
| Ocado halts staff deliveries temporarily amid order backlogThe online grocer says the temporary suspension is due to extra demand following its deal with M&S. |
| The man helping ITC cope with light smoking habitThe man helping ITC cope with light smoking habitAfter value addition, for instance, ITC’s noodles brand, Yippee grew over 50% during the lockdown, its Savlon portfolio grew five times that of last year and staples convenience foods and health & hygiene products, representing around 75% of the FMCG portfolio recorded a growth of 34% in the first quarter. |
| Webinar: How will faceless taxation benefit us?Webinar: How will faceless taxation benefit us? |
| Cap on sops to hurt handset exports: IndustryCap on sops to hurt handset exports: IndustryThe government on Tuesday notified that benefits to each exporter under the Merchandise Exports Incentive Scheme (MEIS) for the September-December period is capped at Rs 2 crores. |
| 2Q2020 Final Headline Productivity ImprovedWritten by Steven Hansen
|
| Today’s older workers may see the first cuts to Social Security benefitsThe Congressional Budget Office released an updated budget outlook, including the pandemic’s impact on the economy. |
| Market Snapshot: Dow down more than 500 points as tech shares slumpU.S. stocks fall Thursday after the stock market posted one of its best daily gains in weeks. |
| Mortgage rates remain below 3% ” but rising home prices are threatening to push buyers out of the marketEven with interest rates at record lows, someone buying the typical home today will have a larger monthly mortgage payment than they would have if they bought a year ago. |
A simple summary of the headlines for this release is that labor costs are growing slower than productivity on a quarter-over-quarter basis. On a year-over-year basis – the opposite is true.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:
