Written by Gary
US China tariffs ‘inconsistent’ with trade rules says WTO (SPY +0.5%). How Costco makes billions by charging people to shop there.
The Market in Perspective
| Here are the headlines moving the markets. | |
 | Kraft Heinz looks to revamp Oscar Mayer brand, cut 20% of products, as it rethinks businessShares of Kraft Heinz were up 1% in afternoon trading after the company presented its long-term turnaround plan to investors. |
| At least 24 million students could drop out of school due to the coronavirus pandemic, UN saysIn places where there are no or only few new cases of the virus, “the decision to close schools should be a last resort,” WHO Director-General Tedros Adhanom Ghebreyesus said. |
| Peloton CEO on Apple launching a workout service: ‘It’s quite a legitimization of fitness content’“The biggest thing I will say is it’s quite a legitimization of fitness content, to the extent the biggest company in the word … [is] saying fitness content matters,” said Peloton CEO John Foley. |
| 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. |
| There may not be enough coronavirus vaccine doses to quickly supply the world, Gates Foundation saysThe Bill & Melinda Gates Foundation released a new report that found global routine vaccinations during the coronavirus pandemic have dropped to levels last seen 25 years ago. |
| Peloton thinks it can grow to 100 million subscribers. Here’s howPeloton is only raising the bar for itself, in the midst of the coronavirus pandemic, and CEO John Foley says it is aiming to have 100 million paying subscribers. |
| 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. |
| 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 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. |
| Here’s how homeowners can prepare for insurance claims after Hurricane SallyAs the slow-moving storm heads toward several states along the Gulf of Mexico, there may be steps you can take to prepare yourself for the possibility of having to file an insurance claim due to damage to your home. |
| 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. |
| Kim ‘Krashdashian’ Breaks The Market Despite SPACs, Snowflake, & Soaring ZombiesKim ‘Krashdashian’ Breaks The Market Despite SPACs, Snowflake, & Soaring Zombies Tyler Durden Tue, 09/15/2020 – 16:00 Buffett barreling into Snowflake’s IPO, yet more SPACs, WTO Ruling against US (in favor of China), a snooze-fest Apple event with no iPhones, a continuing collapse in Exxon, Kim ‘Krashdashian’ ‘freezing’ her Facebook/Instagram account, and the rise of the zombie firm… all add up to one thing… All of which ended up with Nasdaq dramatically outperforming (note the divergence at the cash open – Nasdaq bid, Small Caps dumped)… Kim K Krashed stocks briefly but he standard buying-panic stomped into markets in the last 10 mins (The Dow and Small Caps barely green)… |
| Biden’s Multi-Trillion-Dollar Budget Is The Biggest Increase In DecadesBiden’s Multi-Trillion-Dollar Budget Is The Biggest Increase In Decades Tyler Durden Tue, 09/15/2020 – 15:42 Authored by Mike Shedlock via MishTalk, Biden unleashed his budget plans. Let’s have a look. |
| TikTok Will Become Independent, US-Based Company Under Modified Oracle DealTikTok Will Become Independent, US-Based Company Under Modified Oracle Deal Tyler Durden Tue, 09/15/2020 – 15:25 Update (1600ET): As we wait for the official word from CFIUS, President Trump said Tuesday that the TikTok-Oracle plan would likely be approved, and that he is a “fan” of Oracle CEO Larry Ellison, known for being one of a small group of tech figures who support the president. TRUMP SAYS TIKTOK `VERY CLOSE’ TO DEAL TRUMP SAYS HE’S A FAN OF ORACLE’S LARRY ELLISON * * * Now that President Trump and his trade team have had a couple of days to read all the ‘news analysis’ slamming the TikTok deal as a nothingburger on par with the Phase 1 trade deal, it looks like they might have some reservations about how things turned out. Or maybe Trump saw some of the headlines and demanded changes, asap. Whatever the reason, it looks like Oracle, ByteDance, the minority partners like Sequoia, have come together and essentially worked out a new deal, that will place TikTok in a separate joint venture. |
| Facebook Tumbles After Kim Kardashian Tweets She Is “Freezing” Her FB, Instagram Accounts, Asks 67 Million Followers To Join HerFacebook Tumbles After Kim Kardashian Tweets She Is “Freezing” Her FB, Instagram Accounts, Asks 67 Million Followers To Join Her Tyler Durden Tue, 09/15/2020 – 15:11 Facebook stock suddenly tumbled just after 2:52pm following a Kim Kardashian West in which the cult icon of millions of confused, easily impressionable teenagers bashed Facebook, told her 66.7 million twitter followers that she was “freezing” her Instagram and FB account and asked them the join her. The reason for her ire? She said that she “can’t sit by and stay silent while these platforms continue to allow the spreading of hate, propaganda and misinformation – created by groups to sow division and split America apart – only to take steps after people are killed. Misinformation shared on social media has a serious impact on our elections and undermines our democracy. “
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| 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. |
| US backs off Canadian aluminium tariffsCanada, which had been due to unveil retaliation measures, said “common sense” had prevailed. |
| View: Dear PM, digitisation begins at homeView: Dear PM, digitisation begins at homeThere is much the government can do, to close the gaps in the digital ecosystem that have been shown up and, in the process, stimulate economic growth. |
| The Indo-Pacific strategy is gaining momentumThe Indo-Pacific strategy is gaining momentumIndia and the US have a flurry of meetings planned before the US election on November 3 to consolidate the gains made under President Donald Trump. |
| Apple Watch 6 launched at $399, iPadAir at $599Apple Watch 6 launched at $399, iPadAir at $599The tech giant also introduced the lower-cost Apple Watch SE at Rs 29,900. |
| Mark Hulbert: Here’s the big secret of how the richest Americans made their wealthThe Forbes 400 list shows that Wall Street is not where great fortunes are built, writes Mark Hulbert. |
| The Tell: Stock market’s 7% pullback? Get ready for more, as a 2009-style ‘stair-step’ rally continues, says Wall Street bullThe S&P 500’s 7% pullback over six trading days was likely the first of many as the stock market follows the œstair-step playbook from 2009, says Canaccord’s Tony Dwyer. |
| : Apple rolls out a cheaper Apple Watch, subscription bundles and moreTwo new Apple Watches, upgraded iPads, and new bundles are announced at September event that usually features new iPhones |
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