Written by Gary
Tech shares continued to shake off last week’s jitters (SPY +0.9%). Stocks making the biggest moves midday: Netflix, Tesla, Nikola, Lennar.
Here is the current market situation from CNN Money | |
 | North and South American markets are mixed today. The Bovespa is up 1.95% while the S&P 500 gains 1.00%. The IPC is off 0.35%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| Why the lackluster box office results? Americans simply aren’t ready to return to the moviesFor the last 11 weeks, public attitudes about leisure activities, like going to the movies, hasn’t moved significantly, a warning that consumer habits are not returning to pre-pandemic normalcy. |
| How Costco makes billions by charging people to shop thereCostco pretty much pioneered the club membership retail model on a large scale. The company did it by charging low prices and staying tightly focused on keeping its members happy ” so they keep renewing their memberships. In an era where retailers have struggled, Costco remains one chain investors believe is remarkably resilient. |
| Electric truck maker Nikola’s shares fall as SEC reportedly examines short seller’s fraud claimsThe SEC is reportedly looking into the merits of short seller Hindenburg Research’s claims that electric vehicle manufacturer Nikola misled investors about its business prospects. |
| Kraft Heinz to sell part of cheese business to Lactalis in $3.2 billion dealKraft Heinz on Tuesday said it is selling part of its cheese business to Lactalis in a $3.2 billion deal. |
| Delta says it won’t furlough most workers thanks to buyouts and shorter schedulesDelta said it doesn’t plan to furlough flight attendants and other ground workers thanks to shorter schedules and thousands of voluntary buyouts. |
| Kraft Heinz targets $2 billion in cost cuts over 5 years, sees long-term organic net sales growth of 1% to 2%Kraft Heinz also raised its third-quarter forecast for organic sales growth. |
| The coronavirus has killed at least 121 young people in the U.S., mostly minorities, CDC saysThe study comes as concerns mount over allegations of political meddling within the CDC. |
| Target and these other retailers could benefit from the accelerated shift to e-commerce salesThe pandemic has accelerated a shift toward online spending, and that’s fueled a handful of e-commerce stocks this year. Nancy Tengler of Laffer Tengler Investments and Katie Stockton of Fairlead Strategies discuss which they’re backing. |
| Stocks making the biggest moves midday: Netflix, Tesla, Nikola, Lennar and moreThese are the stocks posting the largest moves in midday trading. |
| Coronavirus live updates: Pelosi renews call for large stimulus, Palihapitiya says get money direct to AmericansThe coronavirus has infected more than 29.3 million people globally as of Tuesday, killing at least 929,171 people so far. |
| Amazon’s launch of luxury fashion shops is latest blow to struggling department storesAmazon just announced the launch of its Luxury Stores for designer fashion brands. |
| 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. |
| Apparel retailer Francesca’s issues ‘going concern’ warning as sales tumbleApparel retailer Francesca’s said its ability to continue as a going concern is in doubt after it reported a quarterly sales decline of 29%, citing major supply-chain constraints. |
| Yields Dip After Solid 20Y AuctionYields Dip After Solid 20Y Auction Tyler Durden Tue, 09/15/2020 – 13:15 Unlike last month, when both the 20Y and 30Y auctions were so ugly they repriced the long-end well higher for the next few weeks, last week’s stronger than expected 30Y auction hinted at continued strength in the primary market for duration, and sure enough moments ago the 20Y auction, a 19-year 11-month reopening of Cusip SQ2, was also impressively strong. The sale of $22BN in 20Y bonds – down $3 billion from last month – priced at a high yield of 1.213%, stopping through the When Issued 1.218% by 0.5bps, a solid improvement from last month’s 0.9bps tail. The Bid to Cover also jumped from last month’s 2.26 to 2.39 (if below the btc of the first three 20Y auctions since the tenor was reintroduced in May). The internals were less impressive, with Indirect Bidders taking just 60.7%, down from 62.6% last month. And with Directs taking down 15.3%, above last month’s 11.2%, Dealers were left with 24.0%, also an improvement to last month’s 26.2% |
| New York City’s Newest $3.3 Billion Skyscraper Opens Up To A Shut Down CityNew York City’s Newest $3.3 Billion Skyscraper Opens Up To A Shut Down City Tyler Durden Tue, 09/15/2020 – 13:10 A $3.3 billion office skyscraper called One Vanderbilt opened up in Manhattan this week to little more than crickets. What would normally have been a lavish unveiling for the massive building – owned by SL Green Realty Corp. – instead fell on the deaf ears and the muted pulse of a city that is still all but shut down as a result of the coronavirus pandemic. The building’s first tenants are set to arrive by the end of the year, according to Bloomberg. SL Green had predicted on a conference call earlier this summer it would have 72% of the building leased by year’s end. This falls short of the company’s 82% target. We’ll take the ‘under’ on those numbers. The launch of the new piece of property not only comes at a time when the city is shutdown, but also at a time when tenants are fleeing commercial real estate in favor of allowing their employees to work from home. SL Green currently has about 900 tenants across the city and they œall want to be back in the buildings, according to the company’s CEO Marc Holliday. But honestly, what else would he have said? |
| Watch Live: Apple Debuts New Watch During First ‘iPhone-Free’ Event In 8 YearsWatch Live: Apple Debuts New Watch During First ‘iPhone-Free’ Event In 8 Years Tyler Durden Tue, 09/15/2020 – 12:55 Production delays may have sidelined the new iPhone for now, but Apple is charging ahead with its annual product-launch event, holding a scaled-down event inside its “Apple Park” in Cupertino. Apple has delayed the unveiling of its next-generation iPhones, though photos have leaked on social media, prompting a wave of criticism of the device’s new camera setup. The company has blamed the delay on the pandemic and production-related issues for the delay. Earlier this year, Apple unveiled the iPhone SE, its budget-conscious (and size-conscious) alternative to its larger phones, marking the first time it launched an iPhone without a product event. It’s the first time in 8 years that Apple has held a product launch event without a new iPhone.
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| Stanford Profs Try To ‘Cancel’ Trump Health Advisor… & White House Strikes BackStanford Profs Try To ‘Cancel’ Trump Health Advisor… & White House Strikes Back Tyler Durden Tue, 09/15/2020 – 12:50 Authored by Ben Zeisloft via Campus Reform, A group of roughly 100 Stanford University School of Medicine professors published an open letter in opposition to Dr. Scott Atlas- a White House Coronavirus Task Force advisor – because of how he says the U.S. should reopen amid the ongoing coronavirus pandemic.
Atlas is in favor of pursuing a herd immunity strategy, in which elderly and vulnerable populations are protected as the virus … |
| Rishi Sunak: New ways to protect jobs ‘my priority’Chancellor Rishi Sunak says he is looking for “creative” solutions as unemployment hits a two-year high. |
| US China tariffs ‘inconsistent’ with trade rules says WTOThe US did not justify its decision to raise border taxes on Chinese goods, the World Trade Organization says. |
| Small firms thrown lifeline in insurance test case rulingThe High Court has ruled some insurers should have paid out for losses caused by lockdown. |
| India’s Covid-19 caseload races past 50 lakhIndia’s Covid-19 caseload races past 50 lakhIndia’s COVID-19 caseload raced past the 50-lakh mark on Tuesday night, just 11 days after it crossed 40 lakh, while the total number of recoveries too surged to 39,26,096, according to data from states and union territories. |
| Live: Cook kicks off event with Apple WatchLive: Cook kicks off event with Apple WatchThe Apple CEO’s post was retweeted nearly 11K times, and was liked by over 77K people. |
| Apple event: New iPad; how to watch livestreamApple event: New iPad; how to watch livestreamThe Apple Watch Series 6 is expected to do away with the Force Touch feature. |
| Top Renovation Projects To Hone In On This FallWritten by Econintersect Now that Fall is here, it is a perfect time to go beyond routine cleaning and take steps to upgrade your home. Although the term “home improvement” often brings up discussions of hiring a contractor and other professionals for massive overhauls, there are a variety of home upgrades that can be done relatively quickly.
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| Travel: Check in, but don’t fly? Airlines launch ‘flights to nowhere’Airlines are selling trips that start and end at the same airport, to satisfy wanderlust during the coronavirus pandemic. |
| Capitol Report: House could approve bill decriminalizing marijuana this month, but Senate set to snub itThe Democratic-run House could vote this month in favor of a bill that decriminalizes marijuana at the federal level, though top House Democrats might decide against having a vote on the bill as planned. |
| The Ratings Game: McDonald’s September sales get a boost from rapper Travis ScottThe Spicy Chicken McNuggets launch should also help the fast-food giant |
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