Written by Gary
US stocks end higher Friday (SPY +1.6%). Tech shares bounce, cutting losses for the week offsetting stimulus and virus worries.
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The Market in Perspective
| Here are the headlines moving the markets. | |
 | WHO says 2 million coronavirus deaths is ‘not impossible’ as world approaches 1 millionAs the global death toll from the coronavirus approaches 1 million people, the World Health Organization said it’s “not impossible” that the number could double. |
| These companies are returning more money to shareholders after cutting jobsDividends and buyback programs are slowly returning, but for some companies, the reinstatement of capital-return plans follows layoffs and permanent job cuts.  |
| HHS wants to test 30% of U.S. wastewater for the coronavirus as an ‘early warning system’Wastewater surveillance is no replacement for standard diagnostic testing, Dave Larsen said, adding that it’s just one more tool that can help communities around the country better understand the outbreak. |
| Taxes are likely to go up for the wealthy in these nine statesLawmakers in nine states are proposing higher taxes on the wealthy to help fill growing budget holes from the pandemic, and the list is likely to grow, according to a legislative group. |
| Why so many people are hopeful about an mRNA coronavirus vaccineMore than 30 biotech and pharmaceutical companies are racing to develop a safe Covid-19 vaccine. Several candidates entered late stage trials in a matter of months. Two of the companies developing a vaccine ” Pfizer and Moderna ” are utilizing a promising new technology using messenger RNA. Watch the video to learn why experts believe this vaccination method could be a game changer for getting back to normal. |
| It’s not entirely clear how the government will pay for Trump’s $200 Medicare cards“Under my plan, 33 million Medicare beneficiaries will soon receive a card in the mail containing $200 that they can use to help pay for prescription drugs,” Trump said in a speech. |
| Former MLB exec Jimmie Lee Solomon joins Houston Astros manager Dusty Baker at private equity firmTurn2 Equity Partners, a private equity-style holding fund, wants to raise $30 million to acquire sports tech media and entertainment firm through new company Playrs. |
| Here’s how sports teams are reinventing tailgating as coronavirus keeps fans out of the standsSports teams are setting up unique tailgating solutions as a way to allow fans to feel a part of the action during the Covid-19 pandemic. |
| Finding the right community can make the difference between a fleeting career and a lifelong venture. Some collaborations are no more than stepping stones. Others are the prelude to self-realization. |
| Watch live: The World Health Organization holds a press briefing on the coronavirus pandemicThe World Health Organization is holding a press briefing Friday on the coronavirus pandemic, which has infected more than 32 million people worldwide. |
| Stocks making the biggest moves midday: Tesla, Costco, Royal Caribbean & moreTake a look at the stocks making headlines in midday trading. |
| Top U.S. health officials try to reassure people of coronavirus vaccine safety as concerns stirThere’s a lot of confusion because there are mixed messages that are coming,” Dr. Anthony Fauci, the director of National Institute of Allergy and Infectious Diseases, said. |
| Dow Suffers Worst Week Since June As Dollar Surges Most In Six MonthsDow Suffers Worst Week Since June As Dollar Surges Most In Six Months Tyler Durden Fri, 09/25/2020 – 16:00 A mixed picture in the major US equity indices this week with mega-tech-heavy Nasdaq managing gains (busting a three-week losing streak) as The Dow suffered its worst week since June, S&P and Dow down for the 4th week in a row (longest losing streak since Aug 2019)… |
| Amazon’s In-Home Security Drone Is Company’s “Most Chilling Surveillance Product” YetAmazon’s In-Home Security Drone Is Company’s “Most Chilling Surveillance Product” Yet Tyler Durden Fri, 09/25/2020 – 15:50 One of the biggest takeaways from Amazon’s annual product event is the need for constant recording if that is at home or in the car. If readers see nothing wrong with the proliferation of mass surveillance, nevertheless, a host of always-on surveillance products operated by a mega-corporation, then now could be the time to purchase a camera-mounted drone that can buzz inside your home, searching for intruders or making sure the stove is not on. |
| Is Powell Sending An Even Louder Message: Fed Refuses To Resume Bond ETF Purchases Despite SlumpIs Powell Sending An Even Louder Message: Fed Refuses To Resume Bond ETF Purchases Despite Slump Tyler Durden Fri, 09/25/2020 – 15:30 Two weeks ago, when the Fed published its latest monthly breakdown of purchases Secondary Market Corporate Credit Facility which shockingly showed that in the entire month of August, the Fed had not purchased a single corporate bond ETF and had barely purchased any corporate bonds in the open market, we asked if Powell was “sending the market as message.” In the subsequent two weeks, which saw a sharp drop in risk assets and the Nasdaq sliding into a 10% correction, coupled with a modest rout across the corporate bond sector, many had expected the Fed to revert to its role as custodian of market stability and ramp up its purchases of corporate bonds, if for no other reason then to assure investors that Uncle Jerome was still watching over everyone. So in what may come as a big surprise to all those praying for the Fed to bail them out, or to at least telegraph that he is keeping an eye on the current tech-led market mess, Powell did no such thing and in fact the Fed’s latest weekly H.4.1 report showed that the corporate credit facilities held $12.91 … |
| “Trump Was Right”: Mueller Team Joked About Wiping Phones; FBI Agent On Probe Complained Of “Get Trump” Mentality“Trump Was Right”: Mueller Team Joked About Wiping Phones; FBI Agent On Probe Complained Of “Get Trump” Mentality Tyler Durden Fri, 09/25/2020 – 15:19 Update (1520ET): As The Federalist reports, “In one series of texts sent the same day as the infamous Jan. 5 Oval Office meeting between Obama, Biden, Comey, Sally Yates, and Susan Rice, one agent admits that œTrump was right when he tweeted that the FBI was delaying his briefings as incoming president so they could cook up evidence against him.”
One agent also texted “I’m tellying [sic] man, if this thing ever gets FOIA’d, there are going to be some tough questions asked,” adding “A]nd a great deal of those … |
| Tesco joins Morrisons to limit sales of some itemsLimits on loo roll and flour are back as supermarkets act to prevent a repeat of March’s panic buying. |
| Contact-tracing app: First version worked on more phonesThe first version of the NHS England and Wales app was trialled on the Isle of Wight. |
| Covid: Jobs scheme ‘won’t stop major rise in unemployment’Influential think tank the Resolution Foundation warns Rishi Sunak’s plan will not “live up to its promise”. |
| Messages are end-to-end encrypted: WhatsAppMessages are end-to-end encrypted: WhatsApp”WhatsApp protects your messages with end-to-end encryption so that only you and the person you’re communicating with can read what is sent, and nobody in between can access it, not even WhatsApp,” a WhatsApp spokesperson said. |
| Flipkart onboards 13,000 kiranasFlipkart onboards 13,000 kiranas”Flipkart’s team initiated contactless onboarding of kiranas through online application. This enabled seamless onboarding without them having to step out during COVID-19 times,” a company statement said. |
| Pinaka rockets: DRDO completes key processPinaka rockets: DRDO completes key processThe DGQA is responsible for ensuring quality specifications and standards of all defence equipment. “An important milestone was achieved today when Authority Holding Sealed Particulars (AHSP) responsibility of Pinaka weapon system was handed over by DRDO to DGQA,” the defence ministry said in a statement. |
| 18 September 2020 ECRI’s WLI Moves Higher Into Expansion
ECRI’s WLI Growth Index which forecasts economic growth six months forward improved and moved marginally higher in expansion this week. ECRI also released their coincident index this week. |
| : ‘We only want to start a home that we know will get paid for when it’s completed.’ KB Home CEO Jeffrey Mezger on his approach to the home-building boomThe pandemic has made home buyers more interested in kitchen storage and adding bathrooms for family members living with them. |
| The Margin: Ohio mom tasered, arrested for trespassing after not wearing a mask at a middle school football gameThe woman, whom police identified as Alecia D. Kitts, was arrested for criminal trespassing and released at the scene |
| The Wall Street Journal: In lawsuit, Boeing board accused of failing to oversee responses to two fatal 737 MAX crashesBoeing Co.’s board is accused of failing to properly oversee management’s responses to two fatal 737 MAX crashes and the plane’s safety problems in a shareholders’ lawsuit that cites internal company documents. |
Written by Steven HansenSummary of Economic Releases this Week
Earnings Summary for Today
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