15Sep2020 Pre-Market Commentary: Wall Street Futures Rise, Nasdaq Paces Toward Back-to-back Sessions Of Gains, DOW Up 200 Points, US Import Prices Pick Up In August, US Dollar Slides 92.81

Here is the current market situation from CNN Money

European markets are broadly higher today with shares in London leading the region. The FTSE 100 is up 1.13% while France’s CAC 40 is up 0.49% and Germany’s DAX is up 0.35%.

Kraft Heinz targets $2 billion in cost cuts over 5 years, sees long-term organic net sales growth of 1% to 2%

Kraft Heinz raised its third-quarter forecast for organic sales growth.

Amazon’s launch of luxury fashion shops is latest blow to struggling department stores

Amazon’s foray into luxury fashion is just the latest blow this year to U.S. department stores, which have been hit especially hard by the coronavirus pandemic.Â

Bill Gates doesn’t expect a virus vaccine before year-end ” but he says one drugmaker has the best chance

“We do see good antibody levels both in the phase one and the phase two (trials), so we’re pretty hopeful,” Gates told CNBC.

Holiday spending will hinge on how much the rich splurge and the poor cut back, Deloitte says

According to Deloitte, holiday retail sales this year should rise between 1% and 1.5%, amounting to between $1.147 trillion and $1.152 trillion during the November-to-January time frame. That’s compared with growth of 4.1% in 2019.

Coronavirus live updates: Global deaths rising; how pandemic affects energy markets

The coronavirus has infected more than 29.3 million people globally as of Tuesday, killing at least 928,963 people so far.

Global coronavirus deaths rose last week, WHO says, as pandemic shows few signs of slowing

The coronavirus pandemic is showing few signs of abating with the number of new cases rising in South-East Asia and Europe in the last week but declining slightly in the Americas, according to WHO data.

Bill Gates: ‘The next big question’ is how to distribute coronavirus vaccines to people in need

The philanthropist and technologist said that it shouldn’t be “just the rich countries winning a bidding war.”Â

Home Depot co-founder: ‘I’m a capitalist’ but business has to think about planet, not just profit

“If you don’t care about people, profit and the planet at the same time, profitability by itself isn’t really enough,” the Atlanta Falcons owner said.

In a bid to cut costs and emissions, a multi-billion pound infrastructure project pilots artificial intelligence tech

The HS2 project is a huge undertaking that has been in the pipeline for many years.

Stocks making the biggest moves in the premarket: Nvidia, Amazon, Lennar, Walmart & more

These are the stocks posting the largest moves before the bell.

5 things to know before the stock market opens Tuesday

U.S. stock futures pointed to further gains at Tuesday’s open as the Fed begins its two-day September meeting.

Some airlines are introducing ‘flights to nowhere’ ” and people are paying to take them

Media reports in Asia have buzzed about what they label “flights to nowhere,” with some airlines already flying them and others potentially about to start them.

Here’s what to expect from Kraft Heinz’s investor meeting

The coronavirus pandemic has revived Kraft Heinz’s sales just as it prepares to unveil its turnaround strategy.

The New Battle Of Britain

The New Battle Of Britain Tyler Durden Tue, 09/15/2020 – 08:39

Authored by Bill Blain via The Morning Porridge,

œNever so much owed to so few.

Today is the 80th anniversary of the climax of The Battle of Britain. After weeks trying to win air superiority and clobbering 11 Group airfields, the Luftwaffe were given orders to hit London with the biggest raids yet. Far from encountering a few ragtag squadrons cobbled together from the last patched up Spitfires and Hurricanes, London was in range of the RAF reserves held North of London. The RAF’s full force hit the Germans and the Big Wings shot them down in droves.Â

Later this morning my home village will get a fly-past: the Supermarine Spitfire factory is just down the road, while Hamble’s airfield was the base of the Spitfire-Girls, the Ladies of the Air Transport Auxiliary, who delivered the iconic fighters to RAF bases across the land. There is nothing like the sound of a Merlin engine to brighten up one’s day.

What we remember today is the Blitz spirit, when the whole nation cheerfully rallied to face down the enemy menace. Our resilience then shocked …

US Import/Export Prices Improve In August, Remain Deflationary YoY

US Import/Export Prices Improve In August, Remain Deflationary YoY Tyler Durden Tue, 09/15/2020 – 08:35

Despite some v-shaped recovering (with a small ‘v’), US Import and Export YoY prices remain deep in deflationary territory in August.

Import prices rose 0.9% MoM (well above the 0.5% expected) and Export prices rose 0.5% MoM (also better than the +0.4% expected). But despite both the beats, import and export prices remain underwater on a YoY basis.

“I’ve Never Seen Anything Like This”: Shippers Using West Coast Ports Can’t Book Rail On BNSF And Union Pacific

“I’ve Never Seen Anything Like This”: Shippers Using West Coast Ports Can’t Book Rail On BNSF And Union Pacific Tyler Durden Tue, 09/15/2020 – 08:19

By Stas Margaronis of AJot Insights,

A Northern California logistics consultant was unable to book containers on the Burlington Northern Santa Fe (BNSF) or Union Pacific (UP) railroads for the first week of September going to and from U.S. West Coast ports and Midwest destinations.

The consultant said, œI have been working in the industry for thirty years and I have never seen anything like this. It’s weird.

The result is that importers of low value products being shipped by containers such as tee shirts would be at an economic disadvantage transporting containers by truck as opposed to by rail between U.S. West Coast ports and Midwest destinations, because of the higher cost.

The consultant explained that there is a huge shortage of rail capacity: œThere are no rail cars and there are no chassis.

The consultant, who is not identified, was contracted to research container rail bookings on the UP and BNSF to and from U.S. West Coast ports including:

Los Angeles

…

Bill Gates Slams FDA, Doubts Agency Can Be Trusted With COVID-19 Vaccine

Bill Gates Slams FDA, Doubts Agency Can Be Trusted With COVID-19 Vaccine Tyler Durden Tue, 09/15/2020 – 08:04

Bill Gates just ratcheted up his PR campaign to sow doubts about President Trump’s alleged ‘political meddling’ with the FDA, while also placing him in league – if only temporarily – with the vaccine skeptics Gates frequently rails against. During an interview with Bloomberg News, the Microsoft founder and Gates Foundation chairman, who has persisted in his defenses of the WHO despite growing evidence of missteps, attacked the FDA’s credibility, claiming that he no longer believes the FDA is ‘the world’s premier public-health authority’, as Bloomberg says during the opening paragraph of the post.

Young people hit as unemployment rate rises

The unemployment rate increases to 4.1% from 3.9%, its highest level for two years.

Small firms thrown lifeline in insurance test case ruling

The High Court has ruled some insurers should have paid out for losses caused by lockdown.

Women lose state pension age appeal against government

Two women hit by changes to the state pension age and backed by campaign group BackTo60 lose their appeal.

India received $20 billion in FDI: Shringla

India received $20 billion in FDI: ShringlaIndia has received over $20 billion in FDI amid the coronavirus pandemic, Foreign Secretary Harsh Vardhan Shringla saidy, showcasing the country as one of the most attractive destinations for investment globally.

Happiest Minds listing: What history hints at

Happiest Minds listing: What history hints atThe basis of share allotment for Happiest Minds IPO is likely to be announced today. In the unofficial market for unlisted shares, the stock quoted a premium of Rs 142-146 per share on Monday, said Dinesh Gupta of Unlisted Zone, an outfit that deals in unlisted shares.

SFIO completed investigations against 361 cos

SFIO completed investigations against 361 cosThe data was provided in a written reply by Minister of State for Corporate Affairs Anurag Singh Thakur. The SFIO, which comes under the corporate affairs ministry, completed investigations in 12 cases involving 361 companies in 2019-20, according to the data.

September 2020 Empire State Manufacturing Index Significantly Declined

Written by Steven Hansen

The Empire State Manufacturing Survey index significantly improved and remained in expansion.

Economic Report: Empire State factory index signals improving conditions in September

The Empire State business conditions index rose to 17 in September from 3.7 in the prior month, the New York Fed said Tuesday.

Project Syndicate: Industrial meat is spreading disease, killing workers, ruining the environment

The reduction of habitats and the skyrocketing number of farm animals increase the possibility of infectious-disease transmission from animals to humans.

Futures Movers: Oil prices boosted as Hurricane Sally approaches U.S. Gulf Coast

Oil prices get a lift as Hurricane Sally nears landfall, forcing the shutdown of around a quarter of offshore Gulf of Mexico crude production and a number of refineries, but analysts said rising worries over the outlook demand may cap potential for upside.