11Sep2020 Market Close: Tech Continues To Struggle, DOW Closes Up 131 Points, Nasdaq Down -0.6%, Big-Tech And Black Gold Battered As Bonds And Bullion Bounce Back

U.S. coronavirus data is ‘disturbing,’ Dr. Fauci says, disputing Trump’s claim that U.S. is ’rounding the corner’

While the number of daily new cases remains far lower than the peak, the country is still reporting a worrying level of new infections, White House coronavirus advisor Dr. Anthony Fauci said.

‘Wonder Woman 1984’ delayed again, will arrive in theaters Christmas Day

Warner Bros. has once again postponed the release of “Wonder Woman 1984.” The superhero flick starring Gal Gadot will now debut on Christmas Day.

Fraternities blamed for campus coronavirus outbreaks as universities struggle to keep students in class

Universities across the country have reported growing Covid-19 cases in fraternity houses, threatening their surrounding communities and plans to bring students back to campus.

‘Tenet’ looks for a foothold in U.S. this weekend, ‘Mulan’ arrives in China amid controversy

“Tenet” and “Mulan” were meant to represent a return to normal. However, neither film has quite embodied that hope.Â

Nikola shares plunge more than 15% amid dispute over short seller’s fraud allegations

Nikola is brushing off allegations of fraud from a short seller.

Destructive wildfires tear through U.S. West Coast, prompt widespread evacuations in Oregon

Dozens of major wildfires are burning through the U.S. West Coast, destroying hundreds of homes and wiping out entire neighborhoods in two towns in Oregon.Â

You might be able to rent a Peloton bike one day, CEO John Foley says

Peloton CEO John Foley hinted at customers being able to rent Peloton bikes and treadmills one day, and also being able to buy a used version.Â

Kids caught the coronavirus at childcare centers and infected family members, CDC report says

“Transmission was observed from two of three children with confirmed, asymptomatic COVID-19,” the researchers wrote, providing more evidence that those who do not have Covid-19 symptoms can still spread the virus.

Microsoft wants to take on Amazon in connecting satellites to the cloud

Microsoft is looking to compete with Amazon with a service that connects satellites directly to a cloud computing network.

Coronavirus live updates: Fauci concerned about current U.S. trends; universities become the latest hotspots

The coronavirus has infected more than 28.27 million people around the world so far, killing at least 911,376 people.

Dr. Scott Gottlieb blames early virus testing failures for making March lockdown the only choice

“We had to assume it was spreading everywhere because we had no testing. That’s going to be looked back at as the key missing element here,” the former FDA chief told CNBC on Friday.

Drugmaker AbbVie pressures reluctant employees to return to work, raising safety questions

Even if employees have demonstrated an ability to do their jobs from home, the company expects them to report to the office to foster creativity and innovation under its phased-in return-to-work plan.

Stanford Medical faculty lambaste former colleague and Trump coronavirus advisor Dr. Scott Atlas

78 Stanford Medicine academics and doctors signed a letter to warn the public about controversial views shared by Dr. Scott Atlas, an advisor to President Trump on the pandemic.

Big-Tech & Black Gold Battered As Bonds & Bullion Bounce Back

Big-Tech & Black Gold Battered As Bonds & Bullion Bounce Back Tyler Durden Fri, 09/11/2020 – 16:00

“Margin Calls, Gentlemen!”

Stocks are down for the second week in a row with Nasdaq leading the plunge (worst week in almost six months)…

Illinois And The Mail-In Voting Election Mess

Illinois And The Mail-In Voting Election Mess Tyler Durden Fri, 09/11/2020 – 15:45

Authored by Mark Glennon via Wirepoints.org,

The Illinois General Assembly held no hearings when it passed legislation this spring to vastly expand mail-in voting in the state. That’s right, no hearings were held on historic changes to the most important element of a democratic republic ” the voting process. The legislation passed both houses on a nearly straight party line vote with Democrats supporting and Republicans opposing.

Troubles loom, though Illinois may be in better shape than many other states for the November 3 election. One thing certain is no final results in close races should be expected on election night, in Illinois or nationally.

The primary change Illinois made was vast expansion of vote by mail for this election. Anyone who cast a ballot in the past three years or who registered to vote or changed addresses after the March primary is being sent an application. Other eligible Illinoisans can request a mail ballot online.

That means mail-in votes will be far higher than ever before.

Budget Deficit Hits Record $3 Trillion As US Spends 100% More Than It Collects YTD

Budget Deficit Hits Record $3 Trillion As US Spends 100% More Than It Collects YTD Tyler Durden Fri, 09/11/2020 – 15:30

Those who have been following the record surge in US public debt (excluding the roughly $100 trillion in off-balance sheet obligations), which exploded by $3 trillion in the three months following the covid shutdowns and which hit an all time high $26.7 this week, will be all too aware that the US budget deficit this year – and every year after – will be staggering.

No Exit: VMWare Joins Growing Group Of Tech Cos Threatening To Cut Employees Wages For Leaving San Francisco

No Exit: VMWare Joins Growing Group Of Tech Cos Threatening To Cut Employees Wages For Leaving San Francisco Tyler Durden Fri, 09/11/2020 – 15:09

In an age where gestures of corporate sympathy are paramount, VMware has joined a small, but growing, contingent of Bay Area tech firms on one of the COVID-19 era’s hottest new bandwagons: cutting pay for workers who continue to “WFH”, due to having relocated, or for some other reason.

UK economy continues recovery in July

The economy expanded by 6.6%, but the country’s growth remains far below pre-pandemic levels.

Haribo stocks run low at Tesco over price cut row

The supermarket is reportedly not ordering more sweets until the confectioner agrees to drop prices.

UK signs first major post-Brexit trade deal with Japan

Symbolic trade deal will cover 99% of UK exports to Japan but boost economy by just 0.07%.

India’s IIP contracts 10.4% in July

India’s IIP contracts 10.4% in JulyAmong the three key sectors, manufacturing, mining and electricity contracted 11.1%, 13% and 2.5%, respectively, in July from a year ago.

Goverment’s clout in Indian equities is slipping

Goverment’s clout in Indian equities is slippingThe market cap of PSUs shrank by 3% annually over the past decade even as the country’s market cap increased by 8%.

‘India had far more Covid cases than official count’

‘India had far more Covid cases than official count’The ICMR’s serological survey suggests that the country may have missed a significant proportion of cases in the first three months of the pandemic.

04 September 2020 ECRI’s WLI Improvement Continues

Written by Steven Hansen

ECRI’s WLI Growth Index which forecasts economic growth six months forward improved and moved marginally higher into expansion this week.

CityWatch: ‘It’s a five-alarm fire, a 100-year fiscal tsunami’

New York’s subway is like a ghost town. Budget officials warn of major cuts to service if there’s no federal help.

FA Center: What’s happening now with M&A is going to make today’s stock investors wish they’d sold sooner

Waves of mergers and acquisitions have ended badly for the stock market, writes Mark Hulbert.

U.S.’s annual budget deficit tops $3 trillion for the first time ever after coronaravirus relief

The U.S. budget deficit climbed by $200 billion in August and put the total gap for the current fiscal year at a record $3 trillion, reflecting a massive increase in government spending to keep the economy afloat during the coronavirus pandemic.