Written by Gary
Stocks end higher after rollercoaster day on Wall Street (SPY +0.3%). US technology stocks recover after falling at the open. Nikola shares fall to new low.
The Market in Perspective
| Here are the headlines moving the markets. | |
 | Nikola shares fall to new low on Wedbush downgrade, analyst says stock too risky to ownNikola shares tumbled Thursday to a record low since the company’s public debut in early June after Wedbush downgraded the electric truck maker’s stock to underperform from neutral. |
| Target to hire 130,000 holiday workers, in line with last year, but jobs will focus on online ordersThe retailer is rethinking its approach to roles for workers over the holidays as it keeps up with customers’ new shopping habits during the coronavirus pandemic. |
| Pandemic slashes sales at Olive Garden’s Times Square location by 94%The coronavirus pandemic has hit Olive Garden’s Times Square location hard, leading it to miss out on $300,000 in sales every week. |
| Dogs that are trained to sniff out the coronavirus are being deployed at Helsinki AirportDogs that have been trained to detect the coronavirus have started working at Helsinki airport this week in a pilot project. |
| Retailers have started paying rent again but are still fighting with their landlordsThe percentage of rent payers almost doubled to 65% from June to July, according to a study by the National Retail Federation and investment bank PJ Solomon. |
| United to offer Hawaii-bound passengers coronavirus tests, a possible blueprint for flights abroadThe tests could help travelers avoid quarantine requirements. |
| Olive Garden parent’s quarterly revenue falls by 28% as pandemic weighs on salesDarden Restaurants reported that its revenue fell by more than 28% in its fiscal first quarter. |
| Prosecutors drop prostitution charges against New England Patriots owner Robert Kraft, more than year after scandal brokeFlorida prosecutors are dropping prostitution charges against New England Patriots owner Robert Kraft, more than a year after his arrest sparked a scandal for the National Football League. |
| President Trump and siblings sued by niece Mary Trump, who claims they swindled her out of millions of dollarsThe lawsuit comes on the heels of a best-selling tell-all book by Mary Trump that was scathingly critical of her uncle, the president. |
| Top financial advisor: 7 life and money lessons every young adult needs to knowJohn D. Spooner, a financial advisor at Morgan Stanley and author of œNo One Ever Told Us That: Money and Life Lessons for Young Adults,” shares the top lessons he’s learned through decades of experience in the investment business. |
| Should front-line medical workers get the coronavirus vaccine first? Not necessarilyFrontline health workers might seem like the obvious choice to get the vaccine first. But that might not necessarily be the right thing to do, bio-ethicists say. |
| Singapore is committed to containing coronavirus pandemic even as daily cases fall, politician saysEarly in the year, Singapore was a poster child for its efficient handling of the spread of the virus. But that success was threatened after an outbreak among foreign migrant workers residing in dormitories, who primarily hail from India and Bangladesh. |
| UK, France Suffer Record Jump In COVID-19 Cases As California Cases Climb: Live UpdatesUK, France Suffer Record Jump In COVID-19 Cases As California Cases Climb: Live Updates Tyler Durden Thu, 09/24/2020 – 15:47 Summary: California cases top 3k again Ireland tightens social distancing rules for 2nd time in a week France reports record 16k+ new cases UK breaks record for most new daily cases Spain reports 3,471 new cases New York sees hospitalizations north of 500 Trump vetos vaccine restrictions China says mass vaccinations to take up to 2 years France introduces more curbs Israel lockdown intensifies FDA delivers emergency authorization Moscow reports 1,050 new cases Indonesia suffers 2nd straight record * * * Update (1530ET): California reported more than 3,000 new coronavirus cases for the seventh time in eight days on Thursday, as well as reporting more than 100 deaths back-to-back for the first time in a week. Another 3,170 people tested positive for the disease over the past 24 hours, up from 3,146 from the prior day, and compared with 3,238 a week ago. With the exception of 2,630 new infections reported on Wednesday, California health authorities have reported more than 3,000 daily infections for seven of the past eight days. The death to … |
| Zoom Refuses To Host SFSU Event Featuring Terrorist HijackerZoom Refuses To Host SFSU Event Featuring Terrorist Hijacker Tyler Durden Thu, 09/24/2020 – 15:45 Authored by Haley Worth via Campus Reform, The video-conferencing company Zoom reportedly did not allow the Arab and Muslim Ethnicities and Diaspora Studies (AMED) Department at San Fransisco State University to use its platform for an event Wednesday with a terrorist hijacker. |
| Ohio Mom Tased & Arrested At Middle School Football Game For Not Wearing MaskOhio Mom Tased & Arrested At Middle School Football Game For Not Wearing Mask Tyler Durden Thu, 09/24/2020 – 15:30 It’s amazing that this is still happening a full six months after most states’ initial lockdowns, and following an unprecedented summer of ‘social distancing’ where by and large local law enforcement authorities have learned to exercise common sense and simple de-escalation (or just passive enforcement while letting understandable exceptions slide) in situations where certain anti-coronavirus measures are mandated. A new incident in Ohio where a woman was outside at a middle school football game without a “required mask” resulted in the police tasing and arresting her. Video of the arrest is now going viral precisely because it’s an instance of police not showing common sense “ again at an outdoor venue. We should add that the event appears sparsely attended, with no more than a mere half-dozen people being seen in the section of the stands where the woman was sitting. It even appears she only sat near her own family, and children could be heard crying as the mom’s arrest unfolded. |
| Triple TroubleTriple Trouble Tyler Durden Thu, 09/24/2020 – 15:15 Authored by Sven Henrich via NorthmanTrader.com, Markets have run into trouble in September and 3 major problems have emerged and unless these problems are solved, markets may have to contend with the distinct possibility of having topped for now. |
| Rishi Sunak defends emergency jobs schemeWages will be topped up for six months, but chancellor says it is “impossible” to say how many jobs will be saved. |
| Rishi Sunak: VAT cut to be extended for hospitality sectorThe chancellor has announced that a VAT cut to 5% across hospitality and tourism will be extended. |
| Coronavirus: What help are self-employed getting from government?What is being done for the five million self-employed people in the UK facing a sudden loss of income? |
| COVID-19: J&K reports 1,104 new casesCOVID-19: J&K reports 1,104 new casesThis takes the total tally in the union territory to 68,614, including 48,079 recoveries and 1,084 deaths. Active cases stand at 19,451. |
| View: The metric that will define digital successView: The metric that will define digital successOnline and ecommerce retail have accelerated, while sectors such as edtech, digital health and online gaming have seen increase in demand. Investment attractiveness of Jio Platforms, Happiest Minds, etc, is a testimony to the sparkle of Indian digital assets. |
| Punjab CM plans to counter new farm-sector lawsPunjab CM plans to counter new farm-sector lawsThe CM has put his legal team on the job and it is expected that opposition Shiromani Akali Dal (SAD) and Aam Aadmi Party (AAP) in Punjab will support the Congress government in this battle against the BJP’s move to rush farm bills through Parliament, said people aware of the matter. |
| Commodities Corner: Why we need water futuresInvestors will be able to make wagers on the price of water later this year with the launch of futures contracts, which are expected to better balance supply and demand for the commodity and hedge price risks. |
| ‘The world has a high fever’ ” UN chief suggests there’s consensus on taxing carbon and slashing emissions in just 10 yearsUnited Nations chief António Guterres said a common conclusion has been reached: the global average temperature increase must be limited to 1.5 degrees, and carbon neutrality reached by 2050, with a dramatic reduction in emissions by 2030. |
| : Aid for airlines, supported by both parties, slipping through cracks |
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