Weekly Forex Forecast for GBPUSD, EURUSD, CADCHF, XAUUSD (07-11 September 2020)

Benzinga - 19m

Weekly Forex Forecast for GBPUSD, EURUSD, CADCHF, XAUUSD (07-11 September 2020) Hey everyone! Welcome to this weeks forex forecast for the week ending September 11th, 2020. I'm TraderBart with A1 Trading, and this week I'll be looking at GBPUSD, EURUSD, CADCHF & XAUUSD.

What's in Store for the Major Pairs and US Markets Tomorrow?

Benzinga - 19m

After the steepest drop in US equities in history back in February, the stock market rebounded 63% and passed all-time highs from pre-crash levels.

Weekly Forex Forecast for AUDCHF, EURUSD, GBPUSD, XAUUSD (13-18 September 2020)

Benzinga - 19m

Weekly Forex Forecast for AUDCHF, EURUSD, GBPUSD, XAUUSD (13-18 September 2020) Hey everyone! Welcome to this weeks forex forecast for the week ending September 18th, 2020. I'm TraderBart with A1 Trading, and this week I'll be looking at AUDCHF, EURUSD, GBPUSD & XAUUSD.

Top Pairs and Indices for the Week (9/9/2020)

Benzinga - 19m

GBP/USDBearishAUD/NZDBearish SPX500Bearish

This Week's Trade Setups on USD Pairs and Indices

Benzinga - 19m


Are You Setting Yourself Up For Success Each Day?

Benzinga - 19m


Markets Make Lower Lows, Tesla Battery Day, What to Expect

Benzinga - 19m

Last week was rough for the market as the S&P and Nasdaq draw lower lows on the daily chart. The Dow Jones Industrial was the only index to look in the best shape as tech continues to fall under pressure.

Weekly Forex Forecast for USDCHF, GBPUSD, AUDNZD, XAUUSD (20-25 September 2020)

Benzinga - 19m

Weekly Forex Forecast for USDCHF, GBPUSD, AUDNZD, XAUUSD (20-25 September 2020) Hey everyone! Welcome to this weeks forex forecast for the week ending September 25th, 2020. I'm TraderBart with A1 Trading, and this week I'll be looking at USDCHF, GBPUSD, AUDNZD & XAUUSD.

Trade Setups on Falling Markets This Week

Benzinga - 19m


Trump Paid No Federal Income Tax In 10 Of Last 15 Years, And When He Did, It Wasn't Much: NYT

Benzinga - 19m

The year Donald Trump won the presidential election, he paid $750 in federal income taxes, according to a New York Times report. The next year — his first as a resident of the White House — the tax amount didn't change.

Judge Blocks Trump Order On TikTok Just Hours Before Ban Goes Into Effect

Benzinga - 28m

A federal judge has halted the Trump Administration's ban on video-sharing app TikTok. Per multiple media reports, Judge Carl Nichols of the U.S. District Court in Washington, D.C. blocked the ban, which was set to go into effect at midnight Sunday.

Chinese Property Developer Decries Fabricated Documents After Selloff

WSJ Markets - 1h

China Evergrande Group said documents circulating online about a corporate restructuring involving a key subsidiary were fake, after they spurred a steep selloff in the Hong Kong-listed real-estate developer’s bonds and shares.

Postmates More Than Doubles Revenue In Q2 Ahead Of Merger With Uber

Benzinga - 1h

Uber Technologies Inc (NYSE: UBER) filed a Form S-4 with the U.S.

Judge Halts Trump Administration TikTok Download Ban

WSJ USBusiness - 2h

The federal judge’s move gives the Chinese-owned app a short-term victory as it scrambles to ensure its future while caught in a battle of brinkmanship between global superpowers.

TikTok Gets Interim Federal Court Relief Against Trump, Can Continue US Operations

Benzinga - 2h

A federal court has ruled that the ban on TikTok will not come into effect on Monday, TechCrunch reports.

'Natural Period Of Consolidation': Stock Market Update For The Week Ahead

Benzinga - 4h

The Past Week, In A Nutshell What Happened: Last week ended negative with mega-cap and technology stocks regaining strength into week-end.

4 Penny Stocks On Robinhood, Webull, TD, & Others To Watch This Week

Benzinga - 4h

Are These Penny Stocks Under $4 On Your List Heading Into The End Of The Month?

Bankrupt Gun Maker Remington Outdoor to Be Broken Up and Sold

WSJ USBusiness - 5h

Gun maker Remington Outdoor will be broken up and sold after a multiday bankruptcy auction, in which seven different buyers won the bidding for different parcels of the company’s weapons and ammunition holdings.

Devon Energy, WPX in Talks to Merge

WSJ USBusiness - 5h

The companies are in talks to combine, according to people familiar with the matter, in a move that could help the energy companies weather a prolonged industry slump.

U.S. Warns Iraq It Is Preparing to Shut Down Baghdad Embassy

WSJ World - 7h

The Trump administration said it would close the embassy unless the Iraqi government stops rocket attacks by Shiite militias against U.S. interests.

Microsoft's Brand Chief on Working With the NFL During Covid

WSJ USBusiness - 8h

Microsoft has relied on the National Football League’s mass audiences since it became a sponsor in 2013. This year, the coronavirus pandemic left the company wondering whether there would be an NFL season at all.

Lebanon's Prime Minister-Designate Resigns, Deepening Country's Political Crisis

WSJ World - 9h

The failure to form a government thwarts a French-led initiative that sought to end a political impasse and unlock international aid after a massive explosion destroyed nearly half the capital last month

U.S. Sets Export Controls on China's Top Chip Maker

WSJ USBusiness - 10h

The U.S. action threatens to cut off SMIC, which is at the heart of Beijing’s efforts to compete in advanced technology, from equipment used to manufacture chips.

Armenia and Azerbaijan Clash Over Disputed Region

WSJ World - 11h

Fighting flared Sunday amid fear that involvement of regional powers could transform the standoff into a regional conflict.

Coronavirus Spreads Deep Into the Amazon, Imperiling an Ancient Tribe

WSJ World - 12h

Covid-19 has now reached some of the most remote regions of the world, including regions of the Amazon rainforest where the isolated Yanomami have lived for more than a millennium.

Commerzbank Appoints Deutsche Bank's Manfred Knof as CEO

WSJ Markets - 12h

Manfred Knof, who will take over in January, will succeed current CEO Martin Zielke, who resigned along with Commerzbank’s chairman in July after acknowledging he had failed to sufficiently turn around the bank.

Grocers Stockpile, Build 'Pandemic Pallets' Ahead of Winter

WSJ USBusiness - 12h

Grocery stores and food companies are preparing for a possible surge in sales amid a new rise in Covid-19 cases and the impending holiday rush.

Amazon's Alexa Boss on What Users Are Asking During Covid-19

WSJ USBusiness - 12h

Toni Reid, the woman behind the Echo, explains Amazon’s tough culture, how women in tech can advance and working from home.

Eric Schmidt's Daughter Has Tech Ambitions---Just Not in Silicon Valley

WSJ USBusiness - 13h

Sophie Schmidt launched Rest of World, a nonprofit journalism startup, in May to shine a light on technology’s impact in less-covered markets.

China's Export Machine Looks Inward as Global Risks Rise

WSJ World - 14h

President Xi Jinping wants to encourage domestic consumption as a hedge against potential commercial or geopolitical disruption, but merchants in the export-oriented city of Yiwu face hurdles to selling more goods at home.

Bonds Are Beating Stocks in Topsy-Turvy 2020

WSJ Markets - 14h

Stocks have staged a furious rally since bottoming in late March, but bonds are still winning the race for returns this year.

AirPods Pro Are Even Better a Year Later

WSJ USBusiness - 15h

With new software updates, Apple is squeezing more value out of its year-old AirPods Pro, the company’s noise-canceling wireless earbuds.

Sustainable Footwear Maker Allbirds Lands $100 Million in Funding

WSJ USBusiness - 16h

The Series E round was led by Franklin Templeton and values Allbirds at $1.7 billion, according to a person familiar with the terms.

Captive Insurance Seen as Covid-Era Remedy to Rising Premiums

WSJ Markets - 16h

With fights flaring over payouts during a time of disrupted business, many companies are looking beyond mainstream coverage and doing it themselves.

Europe Invites a Trade Battle in its Fight Against Shipping Pollution

WSJ USBusiness - 17h

A plan to make oceangoing ships pay for the pollution they cause carrying cargo to and from Europe is drawing sharp criticism from the industry and raises the prospect of a broader conflict on trade. 

Even in Streaming TV, Advertisers Are Dealing With Fraud

WSJ USBusiness - 18h

Advertisers are flocking to streaming TV, pursuing viewers who are spending more time watching programming on ad-supported services. But fraudsters seeking to steal some of those new ad dollars are moving in, too.

Investors Ramp Up Bets on Market Turmoil Around Election

WSJ Markets - 18h

In markets from stocks to currencies, investors are betting on one of the most volatile U.S. election seasons on record, wagering on unusually large price swings.

Chinese Companies Head Home to Raise Money, as Beijing's Relations With U.S. Fray

WSJ Markets - 18h

China’s most ambitious and fastest-growing companies once flocked to U.S. markets to raise money. Since November, eight that originally went public in New York have added listings in Hong Kong.

Pakistan Top Court to Rule on Conviction in WSJ Reporter's Murder

WSJ World - 19h

Pakistan’s highest court is expected to decide as soon as next week whether a British national whose conviction for killing Wall Street Journal reporter Daniel Pearl was overturned earlier this year will be freed nearly two decades after the murder.

Everybody vs. the App Store: Why Companies Are Taking Issue With Apple's Growing Revenue Engine

WSJ USBusiness - yesterday

A host of companies, including Facebook, Spotify and Epic Games, are challenging the way Apple runs its App Store.

Google Will Be Hard Habit to Break

WSJ Markets - yesterday

Regulators might have legitimate concerns about Google’s dominance in search, but there is little they can do if consumers use it anyway.

Inflation Is Already Here---For the Stuff You Actually Want to Buy

WSJ Markets - yesterday

Prices are rising for things people need in the pandemic, even if the overall inflation number remains subdued.

Is It Insane to Start a Business During Coronavirus? Millions of Americans Don't Think So.

WSJ USBusiness - yesterday

The pandemic closed hundreds of thousands of businesses across the country. But now applications for new U.S. businesses are rising at the fastest rate since 2007. Why? A mix of necessity and opportunity.

Ex-Deutsche Bank Traders Convicted of Fraud in Market-Manipulation Case

WSJ Markets - 2d

The case turned on allegations of spoofing in the precious-metals market.

Johnson & Johnson, Nike, Illumina: Stocks That Defined the Week

WSJ Markets - 2d

Here are seven major companies whose stocks moved on the week’s news.

Online marketplace Poshmark confidentially files for IPO

MarketWatch - 2d

Poshmark Inc. said late Friday it confidentially submitted to securities regulators a draft registration statement for its initial public offering. The number of shares to be offered and the price range are yet to be determined, the Redwood City, Calif., company said in a press release. The IPO is expected to start after the Securities and Exchange Commission completes its review process, subject to market conditions. Poshmark is an online marketplace for new and used clothing and other fashion items.

Trump has picked Amy Coney Barrett as Supreme Court nominee: report

MarketWatch - 2d

President Donald Trump has selected Amy Coney Barrett to succeed the late liberal Supreme Court Justice Ruth Bader Ginsburg, said a New York Times report on Friday citing unnamed sources close to the process. But the report also said aides have cautioned that Trump sometimes upends his own plans. CNN in a separate report said Trump intends to choose Barrett. The president is slated to announce his pick at 5 p.m. Eastern Time Saturday.

U.S. Stocks Rise, but S&P 500 Notches Fourth Week of Declines

WSJ Markets - 2d

Investors’ confidence has been crimped by elevated levels of new coronavirus infections in the U.S. and Europe, as well as signs that the global economic recovery is slow and uneven.

Dow industrials, S&P 500 rally mightily on Friday but fail to avoid longest weekly losing streak in over a year

MarketWatch - 2d

U.S. stocks finished a weekly trading stretch, marked by wild swings, on a higher note, shrugging off uncertainty about additional coronavirus stimulus from Washington, rising cases of coronavirus and a stall-out in some components of economic data. Investors still turned to the perceived safety of technology stocks, helping the Nasdaq Composite avoid a fourth consecutive weekly slide, but the S&P 500 and the Dow Jones Industrial Average booked their fourth weekly drop, matching their longest such losing skid since Aug. 23, 2019, FactSet data show. The Dow finished the session up by about 360 points, or 1.3%, at about 27,174, while the S&P 500 closed 1.6% higher at around 3,298, on a preliminary basis. For the week, the Dow booked a 1.8% decline while the S&P 500 lost 0.6% over the five-session stretch. The Nasdaq Composite, however, closed up 2.3% on the session to reach 10,913, on a preliminary basis. That helped the tech-laden benchmark record a 1.1% weekly gain erasing a fall of that magnitude, from which it started Friday trade.

Friday's stock market rally in final hour of trade helping Nasdaq erase over 1% weekly skid

MarketWatch - 2d

U.S. stocks on Friday were ending a choppy week on a high note, which was helping the technology-laden Nasdaq Composite Index wipe out a more than 1% weekly drop in the final hour of trading. The Nasdaq Composite Index on Friday afternoon was up 2.4% on the day, which was putting it in position to notch a weekly gain of about 1.2%, an accomplishment for the benchmark which had begun the session in a 1.1% hole. The moves on the day highlight a volatile period for stocks as investors fret about the lack of further stimulus from Washington to help out-of-work Americans during the COVID-19 crisis, viewed as a key pillar to helping equities take another leg higher from the financial and public health crisis that reached a peak for the stock market in March. Rising cases of coronavirus and a looming 2020 presidential election also contributed to the turbulence. The Dow Jones Industrial Average, meanwhile, was up more than 400 points on Friday at 27,227, while the S&P 500 index was up 1.8% at 3,304. Although the Nasdaq looked likely to avoid a fourth straight weekly decline, the S&P 500 was still on track for a weekly declined of 0.5% and the Dow was set for a 1.6% weekly skid, despite the late-session advance.

SPAC Yellowstone Acquisition files to go public, to raise $200 million

MarketWatch - 2d

Blank check company Yellowstone Acquisition Co. has filed to go public to raise $200 million. The Nebraska-based special purpose acquisition company (SPAC) said it is offering 20 million units at $10 per unit. Each unit will consist of one share of Class A common stock, and one-half of one warrant; a whole warrant entitles the holder to buy one Class A share for $11.50 each. The Class A shares are expected to list on the Nasdaq under the ticker symbol "YSU." Yellowstone's sponsor is a subsidiary of Boston Omaha Corp. . Wells Fargo Securities is the sole bookrunner. SPACs raise money through an IPO, then place it in a trust while the sponsor searches for a business or businesses to acquire, usually within a two-year period. The companies then complete what is in effect a reverse merger, as the combined company takes on the name of the acquiree. Yellowstone is looking to go public during a big year for SPACs, and a good year for IPOs, with the Renaissance IPO ETF rallying 65.2% year to date while the S&P 500 is gaining 2.3%.

Oil futures end lower for the week

MarketWatch - 2d

Oil futures were slightly lower on Friday, posting a loss for the week as some signs of tighter supplies, including a second weekly decline in U.S. crude inventories, failed to offset pressure from expectations of weaker energy demand on the back of the rise in COVID-19 cases. "The oil market is sensitive to the perceived health of the world economy and there were already signs that the rebound was cooling before the recent jump in new cases of coronavirus in Europe," said David Madden, market analyst at CMC Markets UK. Meanwhile, data from Baker Hughes Friday showed that the number of active U.S. oil-drilling rigs climbed by 4 this week to 183, marking the first increase in three weeks. November West Texas Intermediate crude fell 6 cents, or nearly 0.2%, to settle at $40.25 a barrel on the New York Mercantile Exchange. For the week, prices for the most-active contract lost 2.6%, according to Dow Jones Market Data.

Gold futures lose nearly 5% for the week

MarketWatch - 2d

Gold futures declined Friday to post a loss of nearly 5% for the week-the largest weekly percentage loss since mid-March. Analysts attributed losses for the precious metal to strength in the U.S. dollar this week. The longer-term outlook remains positive for gold, however, "as the global economic recovery will warrant more stimulus as the Northern Hemisphere battles the winter wave of the virus," said Edward Moya, senior market analyst at Oanda. "Gold will likely attract buyers from here on out as investors start scaling back their bullish bets." December gold fell $10.60, or 0.6%, to settle at $1,866.30 an ounce. For the week, prices based on the most-active contract lost 4.9%, according to FactSet data.

Neiman Marcus emerges from bankruptcy

MarketWatch - 2d

Luxury retailer Neiman Marcus Holdings Co. Inc. said Friday that it has emerged from bankruptcy, which "full support" of its creditors and new equity shareholders. The new owners, which include PIMCO, Davison Kempner Capital Management and Sixth Street, are funding a $750 million exit financing package. "With the successful implementation of our restructuring, Neiman Marcus and Bergdorf Goodman will continue to be the preeminent luxury shopping destinations for years to come," said Neiman Chief Executive Geoffroy van Raemdonck. "While the unprecedented business disruption caused by COVID-19 has presented many challenges, it has also given us the opportunity to reimagine our platform and improve our business." Neiman had filed for bankruptcy in May, and was the first department store chain to succumb to the COVID-19 pandemic. Among others that went bankrupt are J.C. Penney and Lord & Taylor.

Honeywell raises dividend by 3.3%, starting with its fourth-quarter payout

MarketWatch - 2d

Honeywell International Inc. said Friday it was raising its annual dividend by 3.3%, to $3.72 a share from $3.60. The new dividend rate will be effective in the fourth quarter, when it a quarterly dividend of 93 cents will be payable on Dec. 4 to shareholders of record on Nov. 13. Based on the software industrial company's current stock price -- it is up 1.2% at $160.69 in afternoon trading -- the new annual dividend rate implies a dividend yield of 2.32%, which compares with the implied yield for the S&P 500 of 1.73%. "Honeywell remains focused on providing value to our shareowners despite the current challenging economic environment, and today we announced an increase to our dividend for the 11th consecutive year," said Chief Executive Darius Adamczyk. The stock has rallied 12.8% over the past three months, while the Dow Jones Industrial Average has gained 4.7%. (This replaces a previous report that incorrectly reported the record date for shareholders to be paid the dividend. It has been corrected.)

Cruise stocks surge, lead the S&P 500's gainers after Barclays turns bullish

MarketWatch - 2d

Cruise operator stocks surged Friday, to pace the S&P 500's gainers, after Barclays analysts turned bullish on the group, saying the industry has reached a post-COVID-19 inflection point. Shares of Norwegian Cruise Line Holdings Ltd. shot up 11.5% to be the top S&P 500 gainer, Carnival Corp. was second with an 8.9% rally and Royal Caribbean Group's stock was third with 7.4% gain. Barclays analysts led by Felicia Hendrix raised the the ratings of all three stocks to overweight from equal weight. Hendrix said the industry could get a nice boost within the next few days when the Centers for Disease Control and Prevention (CDC) addresses its order to suspend cruises through Sept. 30. Even if the CDC extends the order, Hendrix said she thinks the worst is behind the sector. "While we see a high likelihood that the CDC will extend the date again (likely into 4Q20), we expect comments from the agency to be positive and potentially signal a near-term return to cruise, which could be a catalyst for the shares," Hendrix wrote in a note to clients. Year to date, shares of Norwegian have plunged 72.1%, Carnival have tumbled 70.6% and Royal have dropped 51.8%, while the S&P 500 has gained 1.3%.

Timber, materials ETFs higher on paper demand

MarketWatch - 2d

Paper and packaging stocks jumped Friday, buoying exchange-traded funds that focus on timber and materials. WestRock Company gained nearly 7% midday, making it one of the biggest movers in the S&P 500 , with International Paper Company , up 5%, and Packaging Corporation of America , up 4.1%, not far behind. The Invesco MSCI Global Timber ETF gained more than 1% midday, while the iShares Global Timber & Forestry ETF was up 0.5%. The broad sector ETF that covers the industry, the SPDR Select Materials fund is the best performer of the 11 sector SPDRs over the past month, as investors have rotated away from pricey tech and consumer names toward stocks that are better value, and which stand to benefit from the new business cycle.

Remington Bet Pits Franklin Against Sandy Hook Families

WSJ Markets - 2d

Franklin Resources made a big bet on gun maker Remington that cost its investors hundreds of millions of dollars. Now, a way out of the trade has drawn the investment manager into conflict with families of the Sandy Hook shooting victims.

IPO Market Parties Like It's 1999

WSJ Markets - 2d

Even in the midst of a recession, investors are pouring money into newly public companies at levels on par with the dot-com era. A shift in the economy and low interest rates are helping drive the frenzy of activity.

Graybug Vision's stock open up 19%, then pares some gains

MarketWatch - 2d

Graybug Vision Inc.'s stock started its public life with a rally, as it opened 18.8% above its initial public offering price. The first trade was at $19.00 at 12:15 p.m. Eastern for 293,572 shares, above the upsized IPO price of $16 a share. At the IPO price, the California-based biopharmaceutical company raised $90 million and was valued at $306.5 million. The stock has pared some gains since it opened, to be trading 7.5% above its IPO price. The company went public at a time that the Renaissance IPO ETF has rallied 63.0% year to date, while the S&P 500 has edged up 1.1%.

PMV Pharmaceutical's stock nearly doubles in its debut

MarketWatch - 2d

PMV Pharmaceuticals Inc.'s stock debuted with a bang Friday, as the the stock opened at nearly double the initial public offering price. The first trade was at $35.00 at 12:09 p.m. Eastern for 346,817 shares, or 94.4% above the IPO price of $18 a share. The New Jersey-based oncology company raised $211.8 million in the IPO, and was valued at $774 million at the IPO price. The stock has mostly held its gains since the open, to be trading 93.6% above its IPO price The company went public at a time that the Renaissance IPO ETF has rallied 23.3% over the past three months, while the S&P 500 has gained 5.8%.

Sustainable-Bond Market Boosted by Europe's Top Institutions

WSJ Markets - 2d

The ECB and the European Commission have thrown their weight behind the market for environmentally friendly bonds, a move that could make sustainable finance more mainstream and improve its transparency.

J&J: most Phase 1/2a participants in COVID-19 vaccine developed neutralizing antibodies

MarketWatch - 2d

Shares of Johnson & Johnson were up 0.1% in trading on Friday after data from the Phase 1/2a clinical trial for its COVID-19 vaccine candidate was published as a preprint. A preprint is not a peer-reviewed study, long considered the gold standard in medical research; however, some drugmakers developing vaccines and treatments are publishing clinical-trial findings on preprint servers during the coronavirus pandemic. The study evaluated a one-dose and two-dose regimen in two cohorts of participants: healthy adults between the ages of 18 and 55 years old and those between the ages of 65 and 75 years old. Interim results reported by J&J in the preprint indicate that 99% of the adult participants who received the vaccine developed neutralizing antibody titers, and all of the 65-and-older participants did, as well. Both groups had binding and neutralizing antibody levels that were in "the same range" as people who have recovered from COVID-19 infections. "Based on similar immunogenicity of both dose levels, we have selected the lower dose for further clinical evaluation," the researchers said. Earlier this week J&J had announced that it had initiated a Phase 3 trial in the U.S. utilizing a single dose. J&J's stock is 0.7% so far this year, while the S&P 500 is up 0.5%.

Capital Spending Plays Catch-Up---For Now

WSJ Markets - 2d

The rebound in the U.S. economy is providing companies with a good reason to increase capital spending. But it is also giving them reason to be cautious about splurging on new equipment.

Amesite's stock opens below IPO price, than rallies above it

MarketWatch - 2d

Amesite Inc.'s stock stumbled out of the gate, as it opened 1% below its initial public offering price, but then righted itself to trade higher. The first trade was at $4.95 at 11:39 a.m. Eastern for 162,143 shares, below the IPO price of $5. The stock was last trading 10% above its IPO price. The company's IPO priced at the midpoint of the expected range of $4.50 to $5.50. The company sold 3 million shares to raise $15 million. With 20.4 million shares outstanding after the IPO, the artificial-intelligence driven platform and course designer was valued at $102.1 million. Laidlaw & Co. was the sole book-running manager. The company went public at a time that the Renaissance IPO ETF has rallied 23.5% over the past three months, while the S&P 500 has gained 5.6%.

Durable-Goods Orders Rise for Fourth Straight Month

WSJ USBusiness - 2d

Orders for long-lasting factory goods increased for the fourth consecutive month in August, a sign of the manufacturing industry’s continued recovery from coronavirus pandemic-related disruptions.

China Evergrande Selloff Deepens as Concern Mounts Over Its Financial Health

WSJ Markets - 2d

China Evergrande’s bonds and shares came under a second day of heavy selling pressure, as investor concerns grew about the large property developer’s financial health despite its attempt to calm such worries.

Bama Fans Learn About Supply, Demand and Covid-19

WSJ Markets - 2d

As the Southeastern Conference kicks off football, fans who want to watch Alabama and Auburn face off in person in November are experiencing sticker shock.

Stocks open mostly lower on rising case counts, stimulus stalemate

MarketWatch - 2d

U.S. stocks opened mostly lower Friday morning as investors hunted for a positive catalyst amid an array of headwinds. The Dow Jones Industrial Average lost about 135 points or 0.5% to open near 26,680, while the S&P 500 slipped 10 points, 0.3%, opening near 3,237. The Nasdaq Composite was about 10 points higher, near 10,680, a gain of 0.1%. Stock benchmarks are on track to mark a fourth straight week of losses as concerns grow over the U.S. election, the lack of additional stimulus to support the economy, and rising COVID-19 case counts around the globe. Orders for durable goods rose 0.4% in August, the Commerce Department said Friday, signaling slowing momentum in the economy. Shares of NVIDIA Corporation rose in early trade after a price-target increase. The chipmaker is the S&P 500 component that's gained the most in the year to date - 110%.

Hawaiian Airlines to offer travelers drive-through COVID-19 testing in LA, San Francisco

MarketWatch - 2d

Hawaiian Airlines parent Hawaiian Holdings Inc. said Friday that it will offer travelers from some U.S. mainland cities drive-through COVID-19 tests, so those who test negative can be exempt from Hawaii's 14-day quarantine requirement. The air carrier said the tests will be available near the international airports in Los Angeles and San Francisco. For results within 36 hours, the tests will cost $90 and will cost $150 for "day-of-travel" express service. "As Hawai'i's leading airline, it is critical to ensure that access to testing does not impede travel to Hawai'i, for visitors or our kama' ina (residents)," said Avi Mannis, senior vice president of marketing at Hawaiian. The stock, which rose 3.8% in premarket trading, has tumbled 57.7% year to date through Thursday, while the U.S. Global Jets ETF has shed 47.4% and the S&P 500 has edged up 0.5%.

DraftKings Stock Gains, Novavax Soars: What to Watch When the Market Opens Today

WSJ Markets - 2d

The S&P 500 looks like it may extend its retreat, after having already declined over 2% this week.

Spirit AeroSystems terminates Asco acquisition deal, more than 2 years after it was announced

MarketWatch - 2d

Spirit AeroSystems Holdings Inc. disclosed Friday that ihas reached an agreement to terminate the deal to buy Asco Industries N.V. parent, S.R.I.F. NV. The termination comes after Spirit said earlier this week that the deal may be terminated because conditions of the deal had not been satisfied. The deal was first announced in May 2018 for $650 million, then the purchase price was lowered to $420 million in October 2019. Spirit's stock, which rose 1.1% in premarket trading Friday, has plunged 74.8% year to date through Thursday, while the S&P 500 has gained 0.5%.

Sunworks stock pulls back, after disclosing delisting notice received just before the recent rally

MarketWatch - 2d

Sunworks Inc. stock's recent rocket ride higher came at a good time for the photovoltaic-based power systems company. The stock tumbled 18.6% in premarket trading Friday, after the company disclosed that on Sept. 22, it has received a delisting notice from the Nasdaq, because it has failed to comply with the minimum bid price requirement, which states companies must maintain a minimum closing bid price for its stock of at least $1 a share. "The company is monitoring the bid price of its common stock and will consider options available to it to achieve compliance," Sunworks said in a statement. But after the stock closed at 77 cents on Sept. 22, it soared 50.4% on Wednesday to $1.16 and 238.8% on Thursday to close at $3.93. The rally came after the shares of SPI Energy Co. Ltd. , which also operates in the photovoltaic market, blasted 1,236.5% higher on Wednesday after the company announced it was starting an electric-vehicle subsidiary. Sunworks shares have more than tripled (up 214.4%) year to date through Thursday, while the S&P 500 has inched up 0.5%.

Zillow raises home price growth outlook even as sales are set to 'gradually decline'

MarketWatch - 2d

Zillow Group Inc. raised on Friday its outlook for home price growth over the next year, as sales and prices have stayed strong through the summer given increasingly short inventory and continued strong demand. The online real estate services company said it expects adjusted home prices to increase 1.2% from August to November. From August 2020 to August 2021, Zillow now expects adjusted home prices to rise 4.8%, up from a previous forecast of a 3.8% increase. The raised price outlook comes despite expectations for adjusted home sales to peak this fall and "gradually decline" through 2021, although sales volumes overall are expected to remain above pre-pandemic levels throughout this year and next. Zillow's Class C shares, which were little changed in premarket trading, have more than doubled (up 112.9%) year to date, while the S&P 500 has inched up 0.5%.

How the World's Dullest Market Quietly Created a Synthetic Dollar Empire

WSJ Markets - 2d

Beneath the placid surface, the trade in short-term Japanese government bills and deposits conceals a thriving world of dollar funding, which offers hints about developments in China’s banking system too.

The IRS Sets a Trap for Cryptocurrency Tax Cheats

WSJ Markets - 2d

The tax collector is making it a lot harder to pretend you don’t have bitcoin or other virtual currencies hidden away somewhere.

Democrats Prepare New Coronavirus Aid Proposal

WSJ USBusiness - 3d

A scaled-down package on coronavirus aid of about $2.4 trillion would include assistance to airlines, restaurants and small businesses. Republicans doubt a deal is doable before Election Day.

Unemployment Claims Hold at High Level

WSJ USBusiness - 3d

The number of applications for unemployment benefits has held at just under 900,000 a week this month, suggesting the labor-market recovery is stalling as layoffs restrain hiring gains six months into the pandemic.

Lawmakers Offer Support for Fed's New Inflation Strategy

WSJ USBusiness - 3d

The central bank last month changed the way it will implement its mandate from Congress, and lawmakers have no objection.

Turkey's Unexpected Rate Rise Gives Lira a Lift

WSJ USBusiness - 3d

Turkey’s central bank raised its interest rates—a surprising step amid recurrent calls by President Recep Tayyip Erdoğan to keep them low—in an attempt to counter the country’s economic problems.