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Dow’s futures involved an opening gain of about 130 issues when Wall Street turned to Washington for the most recent discussions about coronavirus relief legislation. Futures were also positive. Last week, the S-P 500 finished its most productive July in 10 years and recorded its fourth weekly gain in five years. The Nasdaq, which rose 6.8 percent in July, is experiencing a three-day streak and is now at a record. (CNBC) – U.S. Treasury Bond Yields Increase As Investors Monitor Economic Knowledge and Auctions (CNBC)
The Institute for Supply Management published its July production rate at 10:00 a.m. ET, with consensus forecasts calling for a reading of 53.8 to 52.6 in June. At the same time, the government is coming out with June’s structure spending, which is expected to accumulate up to 1.2% after falling by 2.1% in May.
The earning season continues with Clorox (CLX), Marathon Petroleum (MPC) and Tyson Foods (TSN) before today’s bell. Texas Roadhouse (TXRH), Hyatt Hotels (H) and Tenet Healthcare (THC) report after closing. Clorox has long appointed CEO as the company exceeds the request for pandemic estimates (CNBC)
Microsoft (MSFT) has shown that it is in talks to get TikTok, the popular social media video app across the US. From the Chinese generation company ByteDance, saying last Sunday that he hoped to conclude the talks until September 15. Microsoft is pursuing the possible deal after CEO Satya Nadella discussed it with President Donald Trump, according to the Trump Array said Friday that it intends to ban TikTok in the United States, raising national security concerns, and also expressed opposition to Microsoft buying the app after that option emerged. in the media. (CNBC) – Trump will take opposing action to Chinese software vendors in the coming days: Pompeo (CNBC)
Discussions continue on Capitol Hill about the upcoming coronavirus relief bill, the White House and Democratic lawmakers are divided on how to continue with the federal supplement of $600 a week recently expired for unemployment insurance. White House chief of staff Mark Meadows told CBS on Sunday that he “is not sure of a very short-term solution.” However, both sides seem to agree with the bill, which includes another $1,200 stimulus check circular for Americans. (CNBC)
Eli Lilly (LLY) has begun a complex test for one of her experimental Covid-19 antibody remedies to find out if it can prevent the spread of the virus among citizens and staff at nursing homes, the company announced today. The drug, which has recently been developed with the Canadian company AbCellera, is also being tested as a remedy for patients hospitalized with Covid-19. This trial in nursing homes, which were the sites of fatal epidemics of the pandemic, seeks to determine whether the antibody drug can be effective in saving it from the disease. Eli Lily shares rose more than 2% in pre-market trading. (Reuters) – Delays in Covid-19 controls create a nightmare for public fitness as schools and workplaces close for reopening (CNBC)
White House Crownvirus Working Group Coordinator Dr. Deborah Birx warned that the United States is in a “new phase” of its Covid-19 epidemic, describing it as another of the March and April epidemics. “It’s an extremely widespread Array … it’s more widespread and rural and urban,” he said Sunday on CNN. Birx suggested to Americans, regardless of where they live, to cover their faces and maintain their social estrangement. The current transmission occurs during “super propagated events,” rather than through so-called super-propagated individuals, Birx said. “We have to prevent them.” (CNBC) – The Tsar of National Tests: It’s Time to Move on to the Discussion on Hydroxychloroquine (NBC News)
Minneapolis Federal Reserve Chairman Neel Kashkari said U.S. economic recovery depended on the country’s ability to coronavirus, suggesting that a sudden closure of 4 to six weeks would possibly be mandatory at this point for particularly slow transmission. In an interview with CBS on Sunday, Kashkari said there would be “many more corporate bankruptcies” if the virus continued to spread in the United States for “a year or two,” with localized outbreaks and blockades. “This will be a much slower recovery for all of us,” he said. (Reuters)
Marathon Petroleum (MPC) has reached an agreement to sell its $21 billion Speedway gas stations to Seven-i Holdings, the Japanese retail organization that owns 7-Eleven. Seven-i allegedly defected from an earlier deal this year to win Speedway, in part due to the advent of the coronavirus pandemic. The acquisition, one of the largest this year, will allow Seven and me to expand more in the North American market, adding approximately 3900 Speedway outlets to its approximately 9,800 outlets operating through 7-Eleven, the company said. As a component of the deal, which is expected to close early next year, Marathon signed a 15-year fuel source agreement and 7.7 billion gallons a year related to the Speedway business, the company said. (Reuters)
The Lord and Taylor branch chain, one of the oldest in the United States, filed an Application for Chapter 11 Bankruptcy Coverage, which prompted the last store to do so in the face of a coronavirus pandemic that caused significant economic disruption. Founded in 1826 as a dry goods store, Lord and Taylor was sold last year to Le Tote, a clothing rental subscription service. Tote also filed for bankruptcy. In a letter posted on their website, Lord and Taylor stated that they were looking for a new owner. (AP and WSJ) – Retail rentals fall in New York City as the luxurious U.S. grocery shopping districts. Become Ghost Towns (CNBC)
ADT (ADT) receives a $450 million investment from Alphabet’s Google unit (GOOGL) in exchange for a 6.6% stake in ADT. Este es un componente de una propiedad de componentes que verá a ADT ofrecer los dispositivos Nest Smart Home de Google a sus clientes. Each company will also spend $150 million to expand its product and service offering.
Capital One (COF) reduced its quarterly dividend across cents to 10 cents according to the stock, a 75% reduction. Payment will be made on August 20 to registered shareholders on August 10.
News Corp (NWSA) has announced the resignation of James Murdoch from his board of directors. Murdoch said he resigned due to disagreements over editorial policy and other strategic decisions through the Wall Street Journal editorial.
Carnival (CCL) has postponed the planned start of cruises through its AIDA cruise unit pending approval from the Italian government to resume cruises. Scheduled trips from August 5-12 have been cancelled.
Varian Medical Systems (VAR) agreed to be purchased through Siemens Healthineers of Germany for $16.4 billion in cash, or $177.50 according to the stock. The value of the cancer care specialist represents a 24% premium over Varian’s final value on Friday.
Spirit Aerosystems (SPR) is cutting 1,100 jobs, and Boeing (BA) mentions production cuts recently announced by Boeing and the ongoing pandemic.
Zoom Video Communications (ZM) will prevent the promotion of its products directly to consumers in mainland China. According to a letter notified through CNBC, Zoom will begin the new policy on August 23 and will only be offered in China through external partners.
Nio (NIO) delivered 3,533 cars in July, more than a year ago for the Chinese electric vehicle manufacturer. Nio also stated that it could particularly develop its production capacity to assist higher deliveries in the existing quarter.
Elon Musk’s SpaceX safely returned two NASA astronauts to Earth on Sunday, with Bob Behnken and Doug Hurley landing inside the Crew Dragon spacecraft in the Gulf of Mexico. The two-month project was the first time that a personal company, not a government superpower, had sent others into orbit. (CNBC)
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