Written by Gary
Stocks ripped higher today as tech shares clawed back some of its steep losses (SPY +2.2%). SoftBank’s share decline to 12% and ride-hailing firm Lyft Inc its trips rose 7.3%.
Here is the current market situation from CNN Money | |
 | North and South American markets are broadly higher today with shares in U.S. leading the region. The S&P 500 is up 2.09% while Brazil’s Bovespa is up 0.48% and Mexico’s IPC is up 0.39%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| Dr. Fauci says pause on trial is ‘not uncommon at all’ after major coronavirus vaccine trial placed on hold“This particular candidate from the AstraZeneca company had a serious adverse event, which means you put the rest of the enrollment of individual volunteers on hold until you can work out precisely what went on,” Dr. Anthony Fauci said. |
| Home Depot adapts 2020 holiday shopping season to pandemic era with 2 months of Black Friday dealsHome Depot on Wednesday previewed its 2020 holiday shopping season “ adapted to pandemic times, when crowds are taboo but customers still want Black Friday deals. |
| LVMH scraps $16.2 billion deal with TiffanyLouis Vuitton owner LVMH is scrapping its $16.2 billion acquisition of Tiffany. |
| Walmart to test drone delivery of grocery, household itemsBentonville, Arkansas-based Walmart said the test would start on Wednesday in Fayetteville, North Carolina, with cloud-controlled drones picking up and dropping off select items. |
| AstraZeneca shares drop after company announces ‘routine’ safety pause in coronavirus vaccine trialAstraZeneca shares were lower in premarket trading after the company said on Tuesday its late-stage trial for a potential coronavirus vaccine had been put on hold due to safety concerns. |
| United, pilots union reach tentative agreement to avoid close to 3,000 furloughsUnited and the union that represents its pilots have reached an agreement in principle that could avoid the furlough of close to 3,000 pilots. |
| Billionaires battle over proposed Illinois tax hike on the wealthyBillionaire hedge funder Ken Griffin is going head-to-head with the billionaire governor of Illinois over a plan to increase taxes on the wealthy. |
| United Airlines bets on Africa, India and Hawaii in 2021 expansionUnited is increasing its service to Africa and India next year in a bid to capture new travelers |
| NIH promises Congress the U.S. won’t skip safety steps in coronavirus vaccine approvalNIH director Dr. Francis Collins said studying the safety and effectiveness of Covid-19 vaccine candidates is now the agency’s “top priority.” |
| Sweetgreen launches online-only menu items as it pushes into digitalSweetgreen is launching new collections of meals available only through its mobile app. |
| Watch live: NIH director and U.S. surgeon general testify on coronavirus vaccinesNational Institutes of Health Director Dr. Francis Collins and U.S. Surgeon General Dr. Jerome Adams are testifying Wednesday before a Senate committee on Covid-19 vaccines. |
| Millions of people have invested for retirement using low fee index funds. But can investors really afford to be passive when it comes to target date funds? |
| Op-ed: Red flags that your coworker has fallen prey to addiction during the pandemicDrug and alchol addiction in the workplace has risen since the pandemic began. Addiction experts note what to look for if you think a coworker has a problem. |
| Biden’s Immigration Pick Causing Outrage On The LeftBiden’s Immigration Pick Causing Outrage On The Left Tyler Durden Wed, 09/09/2020 – 11:53 Open-border advocates are furious over the addition of former Obama administration immigration expert Cecilia Muñoz to Joe Biden’s transition team, according to The Hill. |
| How To Find Value In An Upside Down WorldHow To Find Value In An Upside Down World Tyler Durden Wed, 09/09/2020 – 11:40 Authored by Michael Lebowitz and Jack Scott via RealInvestmentAdvice.com,
Is Mary’s advice proper when it is your hard-earned wealth at stake? There is no doubt that investors are living in an upside down world. A speculative frenzy fueled by extreme monetary policy is sending stock markets to all-time highs and bond yields and spreads to record lows. At the same time, a global recession is raging, and social unrest is worsening by the day. We shouldn’t forget a pandemic is still having a significant effect on our lives. Maybe investors are just an optimistic bunch and able to look beyond the current problems. However, it could be that investors are again falling victim to greed and cannot see the forest for the trees. More bluntly, maybe they cannot see the risks for the hope. Another consideration is that desperate times call for desperate measures. Despite no visibility into the future, investors are frantic to own anything offering a positive return with little regard for the embedde … |
| NFL Video Game Madden 21 Includes Colin Kaepernick As QuarterbackNFL Video Game Madden 21 Includes Colin Kaepernick As Quarterback Tyler Durden Wed, 09/09/2020 – 11:20 In what is likely going to be viewed as peak virtue signaling, EA Sports has announced that in their latest edition of their hugely popular Madden 21 video game, users will be able to play as Colin Kaepernick. This is, of course, despite Kaepernick not having played in the NFL in four years. EA announced on Twitter on Tuesday:Â œThe team at EA Sports, along with millions of Madden NFL fans, want to see him back in our game.
They continued: œKnowing that our EA Sports experiences are platforms for players to create, we want to make Madden NFL a place that reflects Colin’s position and talent, rates him as a starting QB, and empowers our fans to express their hopes for the future of football. We’ve worked with Colin to make this possible, and we’re excited to bring it to all of you today. Their statement refer … |
| A Bear With A Cardboard Box On Its HeadA Bear With A Cardboard Box On Its Head Tyler Durden Wed, 09/09/2020 – 11:00 By Michael Every of Rabobank I have the perfect visual metaphor for a day on which the headlines show: The UK government openly admitting it is going to break international law –but just a little bit– prompting resignations among senior legal staff and pointed questions from a former prime ministers asking how the country can ever be trusted again. Not to worry, Theresa: poisonings, assassinations, dismembering, and kidnappings all seem to have a short political half-life; then it’s back to business as normal ” œbecause markets . Not so sure it applies to GBP itself though. The Hong Kong justice minister wades into a debate prompted by comments from CEO Carrie Lam over the ‘separation of powers’ to argue it œhas no place there. (The Hong Kong Bar Association rejects this as œunfounded and inconsistent with the Basic Law.) The US imposes more sanctions on China, again focused on Xinjiang and allegations of forced labor, and this time potentially impacting the entire textile complex, given it covers cotton, and staple foods, given it also covers tomatoes grown there. From the perspective of the market … |
| LVMH scraps Tiffany takeover citing tariff fightThe French luxury goods giant had planned to buy the US-based jeweler for more than $16bn. |
| Local lockdown business grants ‘not enough’, says lobby groupFirms forced to close will get cash grants, but the British Chambers of Commerce says more help is needed. |
| Lloyds Bank and Pizza Hut cut more than 1,000 jobsThe bank will cut 865 jobs, while the pizza chain shuts 29 restaurants and closes 450 roles. |
| 2 Pak intruders killed along IB in Rajasthan2 Pak intruders killed along IB in RajasthanThe BSF killed two Pakistani nationals trying to sneak into India through the International Border in Rajasthan’s Sri Ganganagar sector in the early hours of Wednesday, an official said. |
| Look who beat gold and bitcoin in returnsLook who beat gold and bitcoin in returnsElwood Asset Management LLP’s Blockchain Global Equity Index ” ticker: BLOCK ” is a collection of 45 companies involved in the blockchain ecosystem, a technology that deploys cryptography to store information in distributed ledgers and is resistant to modification or manipulation. |
| Plasma therapy is no magic bullet against Covid?Plasma therapy is no magic bullet against Covid?The development has the potential to disrupt the existing CV programmes in India. India particularly has gone big on promoting plasma therapy. Many states and hospitals have not only backed the therapy but have set up plasma banks as well. For example in Maharashtra, Delhi and Haryana doctors have been prescribing therapy for the moderate patients. |
| Where Should I Retire?: We are conservative Christians looking for our utopia: a friendly, safe and affordable small town. Where should we retire?Our gross income including Social Security is about $55,000 a year. |
| The Moneyist: My uncle left his kids $3 million and left me $15,000. I’m 73 and not in good health. Is it wrong to ask my cousin for another $5,000?‘This is close to breaking up a 60-year relationship. I would not ask for money if I didn’t need it.’ |
| The Moneyist: My parents have $50,000 in credit-card debt and $50,000 in a home-equity loan. My father works part-time and my mother refuses to work. How can we help?‘My mother seems to think they will be able to retire in three years when they get additional Social Security, but they have zero retirement funds.’ |
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:
