Written by Gary
Tech leads selloff in choppy session (SPY -1.5%). Stocks Slide After Fed Stance Doesn’t Shock and Awe Markets.
Here is the current market situation from CNN Money | |
 | North and South American markets are mixed. The Bovespa is higher by 0.90%, while the S&P 500 is leading the IPC lower. They are down 1.60% and 1.37% respectively. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| The 2020 Emmys will be an awards show like no other: ‘How could it possibly go wrong?’As the first major entertainment industry awards ceremony to be conducted since the coronavirus pandemic began, all eyes will be on host Jimmy Kimmel and the team at ABC on Sunday night. |
| Airline CEOs meet with White House in last-minute plea for more coronavirus aidU.S. airline CEOs met with a top White House official to plead for billions in more aid as current round is set to expire. |
| House Democrats question findings of Kodak’s internal review in wake of botched pharma deal“Our Committees plan to vigorously pursue our ongoing investigation into this matter, and we expect full cooperation from Kodak and the Administration,” Reps. Clyburn, Waters and Maloney said in a joint statement. |
| Hurricane Sally moves northeast as Florida, Alabama neighborhoods reckon with destructionHurricane Sally hit the coast of Alabama as slow-moving Category 2 storm and tore through the Florida Panhandle, causing massive flooding and damage. |
| New York City delays in-person learning for middle and high school students until OctoberIt’s the second time Mayor Bill de Blasio has pushed back reopening classrooms for in-person instruction for this school year. |
| Moderna says it will begin developing a vaccine for seasonal fluModerna noted that vaccines generally reduce people’s risk of getting influenza by 40% to 60% compared with people who aren’t inoculated. |
| Rent the Runway overhauls subscription plan as pandemic reshapes businessRent the Runway is getting rid of its unlimited rental option as consumers change what they wear and how they shop in the midst of the pandemic. |
| LVMH, Tiffany wrangle over court dates after acquisition turns sourLVMH on Thursday tried to block an attempt by Tiffany to fast-track legal proceedings in the United States to force the French luxury group to honour an acquisition deal agreed last year. |
| Delta increases frequent flyer-backed debt sale to $9 billionDelta says it’s raising more debt backed by its frequent flyer program. |
| Why GNC filed for bankruptcy protection despite vitamin sales boomThe vitamin and dietary supplement market in the U.S. is worth almost $50 billion, according to the Nutrition Business Journal. Brick-and-mortar retailers like GNC, The Vitamin Shoppe and Vitamin World have faced an onslaught of competition from big-box retailers like Walmart and Target, grocery stores like Kroger and Whole Foods and e-commerce giants like Amazon. |
| Amazon invests in battery recycling firm started by former Tesla executiveRedwood Materials will be working with Amazon to recycle electric vehicle batteries, other lithium-ion batteries and e-waste from various operations within Amazon. |
| Moderna expects to know if its coronavirus vaccine works by November, CEO saysModerna could have enough Covid-19 vaccine data by October, but that’s unlikely, CEOÂ Stephane Bancel said Thursday. |
| Stocks making the biggest moves midday: Snowflake, Ford, Penn National Gaming, Tesla & moreCheck out the companies making headlines in midday trading. |
| ‘Price Of Tomorrow’ Author Says Bitcoin Is A “Lifeboat” Amid Financial Turmoil‘Price Of Tomorrow’ Author Says Bitcoin Is A “Lifeboat” Amid Financial Turmoil Tyler Durden Thu, 09/17/2020 – 12:44 Authored by Martin Young via CoinTelegraph.com, Escalating debt and inflation could result in years of stormy weather for global economies |
| Mike Ditka Tells NFL Players: “If You Can’t Respect This Country, Get The Hell Out Of It”Mike Ditka Tells NFL Players: “If You Can’t Respect This Country, Get The Hell Out Of It” Tyler Durden Thu, 09/17/2020 – 12:25 It was just days ago that we noted the NFL’s ratings for Sunday Night Football this past week tanked significantly. We noted that this year’s NFL season seems to be more about social justice and Covid precautions instead of; well, playing football. It appears that legendary coach Mike Ditka agrees. Ditka appeared on Newsmax this week to talk about the state of the NFL, offering up a scathing critique of how he believes that the league has lost its way. Ditka told the host: “Football’s football. It’s not a complicated thing. You’re playing the game, you’re enjoying the game. You don’t like the game, get out of it. It’s not for protesting one way or the other. What color you are, what you think, this or that. You play football. That’s it.” He continued: “You’re privileged. You got a gift from God that you can play the game because you got a body you can do it with. I don’t really understand what you’re protesting. I played the game. I coached t … |
| Peter Schiff Warns The World Is Ready To Reject The Dollar StandardPeter Schiff Warns The World Is Ready To Reject The Dollar Standard Tyler Durden Thu, 09/17/2020 – 12:05 Via SchiffGold.com, Peter Schiff recently did a presentation at the Endeavour Silver Town Hall Webinar. He talked about the state of the economy, the US dollar, and gold and silver. Peter said he thinks we’re about to see a gold bull market rivaling the 1970s because the world is going to reject the dollar standard and go back to a gold standard. |
| GM Considers Expanding Into Electric-Flying Air-TaxisGM Considers Expanding Into Electric-Flying Air-Taxis Tyler Durden Thu, 09/17/2020 – 11:50 Like an elderly man wobbling into a party and trying to fit in with young kids by using “hip new lingo”, General Motors – days after seeing its partnership with Nikola come under fire – has now come out and said it is going to now be exploring options in the “aerial taxi” market. This is, of course, a market that hardly exists. But it certainly sounds cool, doesn’t it? GM will be looking at potentially building the “aerial cars” as part of a broader initiative looking for growth in related transportation markets, according to CNBC. |
| ‘Nearly two-thirds’ of adults back in the workplace, says ONSSome 62% reported commuting to work last week, according to the Office for National Statistics. |
| Rising virus rates threaten economy, warns BankBank of England says a no-deal Brexit is another risk as it keeps interest rates at historic low. |
| Lionel Messi wins nine-year fight to trademark his surnameThe European Union’s highest court rules in favour of the footballer after a nine-year legal battle. |
| Mistry family sends notice to Tata Sons BoardMistry family sends notice to Tata Sons BoardThe notice has sought an explanation from the board members, particularly the independent directors whether the oppressive action that causes prejudice to a minority shareholder was with their concurrence. |
| Govt permits up to 74% FDI in defence sectorGovt permits up to 74% FDI in defence sectorHowever, foreign investments in the defence sector would be subject to scrutiny on the grounds of national security and the government reserves the right to review any foreign investment in the sector that affects or may affect national security, the Department for Promotion of Industry and Internal Trade (DPIIT) said in the note. |
| Harsimrat Kaur Badal resigns from Modi govtHarsimrat Kaur Badal resigns from Modi govtHowever, on the three-decades old alliance formed by Parkash Singh Badal and Atal Behari Vajpayee she said she was confident that the alliance would continue to work together to maintain the hard earned atmosphere of peace and communal harmony in Punjab. |
| September 2020 Philly Fed Manufacturing Survey Index Marginally Declined
The Philly Fed Business Outlook Survey declined but remains well into expansion. |
| Jonathan Burton’s Life Savings: Billionaire investor Ray Dalio on capitalism’s crisis: The world is going to change ‘in shocking ways’ in the next five yearsVeteran hedge-fund manager says capitalists don’t divide the economic pie well, so the system isn’t working effectively for all. |
| GE’s stock surges toward best 2-day rally in 5 months after CEO Larry Culp’s upbeat commentsShares of General Electric Co. surged for a second day on Thursday, in the wake of Chief Executive Larry Culp’s surprise call for cash flow to be positive in the second half of the year. |
| : ETF Wrap: How to think about – and play – the wave of M&A activityETF Wrap is a briefing of what investors need to know in the exchange-traded sector, including exclusive commentary and interviews on the industry from MarketWatch |
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