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Markets Brace For Jobs Report & Tech Continues 5-Day Rally – Daily Financial News Summary For August 6, 2020

Thursday saw a late surge in tech, which we’ll get to in a minute, but first, the Dow Jones rose 0.7%, the Nasdaq climbed 1%, and the S&P 500 was up 0.6%. The Stoxx Europe 600 Index lost 0.7%.

The tech industry continued to charge today with Apple reaching another record high and being up 3.5%, while Facebook rallied 6.5% higher, Netflix and Alphabet both closed 1% higher. Microsoft also saw a 1.6% gain.

Gold climbed above $2,050 an ounce in a fifth straight day of gains and finished the day 1.2% higher to settle at $2,061.90 an ounce. Meanwhile, the West Texas Intermediate crude fell 0.4% to $42.03 a barrel. Copper fell 0.1% to $2.9135 per pound.

The first major professional golf tournament of the year kicked off in San Francisco at TPC Harding Park. It is the PGA Championship and as we publish Thursday evening, Jason Day sits alone atop the leaderboard at -5, while nine players are tied at -4 in second place. A few players were still out on the course.

The big news for Friday is the July U.S. jobs reports which are expected.

https://callputstrike.com/2020/08/06/markets-brace-for-jobs-report-tech-continues-5-day-rally-daily-financial-news-summary-for-august-6-2020/



Crypto Exchange Tauros.io Partners With Dash To Launch First Visa Crypto Debit Card In México


There is good news for Latin America crypto users following Tauros.io cryptocurrency exchange’s partnership with Dash to launch Visa cryptocurrency debit cards. Initially, the Visa crypto debit cards will be available to Mexican users only.

New crypto Visa debit card in Mexico
Latin America has been leading in championing the adoption of cryptocurrency, and it seems the efforts are bearing fruits. Dash and Tauros, which operate in digital asset services, have partnered to facilitate the launch of the first-ever crypto debit card in the region. For Tauro’s customers in Mexico, they can now spend Bitcoin, Dash, or any other cryptocurrency in various stores across the country that accept Visa cards.

https://callputstrike.com/2020/08/06/crypto-exchange-tauros-io-partners-with-dash-to-launch-first-visa-crypto-debit-card-in-mexico/


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ADP Private Payroll Report Disappoints & Disney Climbs – Daily Financial News Summary For August 5, 2020

Wednesday kept things in the green as the Nasdaq advanced 0.4%, the S&P 500 was up 0.6%, and the Dow Jones rose 1.4% and hit a 4-day winning streak. The Stoxx Europe 600 Index gained 0.5%. The yield on 10-year Treasuries added four basis points to 0.54%.

While our after-hours reporting showed Disney remaining flat, today, the shares saw a 8.8% gains.

Another gainer for Wednesday was Novavax, whose shares popped 10.4% after the company reported phase one vaccine trial results that demonstrated a positive immune response among patients.

More good news on the fight against COVID-19 came from Johnson & Johnson when they announced they struck a $1 billion deal with the U.S. government to manufacture 100 million doses of its coronavirus vaccine candidate if it proves successful. As a result, their shares rose 0.8%.

https://callputstrike.com/2020/08/05/adp-private-payroll-report-disappoints-disney-climbs-daily-financial-news-summary-for-august-5-2020/

Defiance Nasdaq Junior Biotechnology ETF And ALPS Medical Breakthroughs ETF: ETFs To Watch In Biotech And Healthcare Sectors

Defiance Nasdaq Junior Biotechnology ETF (NASDAQ:IBBJ) is the latest addition as Exchange Traded Funds continue to elicit strong demand, given the strong bullish momentum in the equity market. With investments in the equity market edging high amid growing concerns over an extended stock market, the ETF seeks to provide targeted exposure to the biotech space that has been doing exceedingly well amid the disruptions fuelled by COVID-19 pandemic.

https://callputstrike.com/2020/08/05/defiance-nasdaq-junior-biotechnology-etf-and-alps-medical-breakthroughs-etf-etfs-to-watch-in-biotech-and-healthcare-sectors/


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How to Choose A Student Credit Card: https://callputstrike.com/2020/08/04/how-to-choose-a-student-credit-card/



Market Optimism On Second COVID-19 Stimulus Plan – Daily Financial News Summary for August 4, 2020

The winds are howling on Wall Street today as Tropical Storm Isaias made its way up the east coast today. Unrelated, but the markets did blow higher with the Dow Jones up 0.6%, the S&P 500 up 0.36%, while the Nasdaq climbed 0.35% to another record close. Stoxx Europe 600 Index fell 0.1%. The euro rose 0.3% to $1.1801.

Some of the positivity in the markets came from developments in the next stages of COVID-19 stimulus packages. Mitch McConnell is supposedly “prepared to support” a coronavirus relief agreement when one is reached between the White House and the dems. The $600 per week federal unemployment benefits and a moratorium on federally backed housing have both expired, as we reported on yesterday.

Disney announced earnings after the bell Tuesday, and earnings per share outperformed at 8 cents compared to the expected loss of 64 cents, according to Refinitiv. Additionally, they announced that they now have over 100 million paid subscribers on their streaming services, which include Disney+, Hulu, and ESPN+. As many expected, park closures impacted revenues significantly. Shares saw little movement on the results.

What would Tuesday be without tech? Apple climbed 0.6%, but Netflix gained 2.2% and Amazon was up 0.87%. Alphabet fell 0.6% and Facebook slipped 0.85%.

https://callputstrike.com/2020/08/04/market-optimism-on-second-covid-19-stimulus-plan-daily-financial-news-summary-for-august-4-2020/

JPMorgan Strategists Warn Of Imminent Stock Market Correction

A stock market correction is imminent.

Those are sentiments shared by strategists at JPMorgan.

According to the strategists, the correction could come calling in the next few weeks as a plethora of weak economic data, continue to raise concerns. Payroll data, employment reports, and retail sales in the coming days are some of the releases that could trigger the correction.

“Some misgivings are justified given a macro backdrop that is becoming muddied, but not muddied enough to justify bearish targets or a defensive investment strategy,” say, strategists, led by John Normand, in a note.
https://callputstrike.com/2020/08/04/jpmorgan-strategists-warn-of-imminent-stock-market-correction/





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Twitter's $250 Million FTC Complaint | Apple & Nasdaq 100 hit record highs – Daily Financial News Summary For August 3, 2020

Monday kicked off the week on a high note. The Dow Jones was up 0.89%, the Nasdaq grew 1.47%, and the S&P 500 climbed 0.72%. Meanwhile Gold hit the $1,986.30 per ounce mark. The Stoxx Europe 600 Index gained 2.1%. The Nasdaq 100 reached its record high.

Looking back at July’s market performance, the major averages completed their fourth consecutive monthly gain in July, with the S&P 500 growing 5.5% and the Nasdaq gaining over 6%. The Dow gained 2.4% last month.

https://callputstrike.com/2020/08/03/apple-nasdaq-100-hit-record-highs-daily-financial-news-summary-for-august-3-2020/

U.S Households Staring At Harsh Times As $600 Unemployment Benefit Expires

The effects of a Republican-Democrat stalemate on Capitol Hill will be felt far and wide following the expiry of the $600 unemployment benefits program. The two sides failed to reach an agreement that would have seen the program extended and to continue supporting people hard hit by the COVID-19 pandemic.

Loss of Necessary Income
Unemployment benefits have since fallen by as much as 65% following the $600 a week boosts expiring last week. With the loss of benefits, more than 30 million Americans that have become jobless from the pandemic are expected to see a severe drop in weekly aid, with some experiencing a 90% drop.

https://callputstrike.com/2020/08/03/u-s-households-staring-at-harsh-times-as-600-unemployment-benefit-expires/

Microsoft Tik Tok Acquisition Could Strain Facebook Relationship

A confirmation that Microsoft intends to buy the Chinese app comes just days after President Donald Trump confirmed plans to ban the app over national security concerns. In recent weeks, there have been concerns that Chinese authorities are using the app to gain access to U.S user’s information, something that the U.S considers a matter of national security.

https://callputstrike.com/2020/08/03/microsoft-tik-tok-acquisition-could-strain-facebook-relationship/


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Markets Stumble To Close Volatile Week As Professional Sports Return – Daily Financial News Summary For Friday, July 24, 2020

https://callputstrike.com/2020/07/24/markets-stumble-to-close-volatile-week-as-professional-sports-return-daily-financial-news-summary-for-friday-july-24-2020/




Facemasks, Fauci, The Economy & COVID-19 Conspiracy Theories

Conspiracy theories about the facemask’s role in combating the spread of the deadly coronavirus refuse to fizzle away. People are increasingly questioning their need even as the U.S continues to register record numbers of infections at the back of one of the world’s highest death rates. Some people have already found a way to fuel the fire, using footage of Dr. Anthony Fauci to question and criticize the face mask’s role in the fight against COVID-19, or even images from opening night of the Washington Nationals baseball game where he sat isolated in a nearly empty stadium.

Facemask Conspiracy Theories
While the video has been viewed over 2.5 million times on Facebook, it omits a quote by the infectious disease expert on purpose to perpetuate wrong and misleading information. Dr. Fauci is on record reiterating his support for a face mask as the understanding of COVID-19 improved.

https://callputstrike.com/2020/07/24/facemasks-fauci-the-economy-covid-19-conspiracy-theories/




Cryptocurrency Mainstream Adoption On Course As U.S Banks Start Offering Custody Services

The Office of the Comptroller of Currency has set the stage for cryptocurrency mainstream adoption in the U.S. In a public letter, the department has made it clear that national banks across the country can hold onto cryptographic keys for cryptocurrency wallets paving the way for banks to start holding digital assets for clients.

Banks Crypto Custody Services
The declaration marks a major milestone in the evolution of cryptocurrency that have become part and parcel of people’s lives. Previously, crypto exchanges, as well as digital wallets, were the only ones offering custody services for digital assets. That is set to change as large financial institutions at the heart of the U.S financial system, can now venture into the booming crypto world, conversely, fuel mainstream adoption.

https://callputstrike.com/2020/07/24/cryptocurrency-mainstream-adoption-on-course-as-u-s-banks-start-offering-custody-services/


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Tech Sell-Off Ends Four-Day Winning Streak & Dollar Weakens – Daily Financial News Summary For Thursday, July 23, 2020

A tech sell-off on Thursday afternoon sent the markets spinning and ended a four-day winning streak. The Dow Jones was down 1.3%, the S&P 500 down 1.2%, and the Nasdaq was today’s biggest loser down 2.2%. Meanwhile, the Russell 2000 inched just a touch higher rising by 0.0042%. The Stoxx Europe 600 Index closed up 0.1%.

In currencies, the euro gained 0.2% to exchange at $1.1593, reaching the strongest in more than 21 months on its fifth consecutive advance. The Japanese yen added 0.3% to reach 106.84 per dollar. The Bloomberg Dollar Spot Index lost 0.1%.

The tech sector struggled with Microsoft shares sliding 4.3% after reporting better earnings. The big item that sunk the stock today was that LinkedIn, their subsidiary company, was knocked down due to a weakened job market.

After a rally yesterday, Tesla ended up giving up most of its gains by falling around 5%. Netflix dipped 2.5%, Amazon fell 3.6%, and Apple closed 4.5% lower on the day.

As we reported yesterday evening ahead of the numbers released today, jobs impacted the markets as well. U.S. weekly jobless claims came in at 1.416 million for last week, marking the 18th straight week in which initial claims totaled more than 1 million. A stimulus package is expected next week, however, the $600 stimulus benefit for unemployment likely will be shrinking to just $100 or $200 based on various sources.

https://callputstrike.com/2020/07/23/tech-sell-off-ends-four-day-winning-streak-dollar-weakens-daily-financial-news-summary-for-thursday-july-23-2020/

Green Properties: The New Norm In Real Estate & No Longer A Luxury

Going green is the new norm in the real estate sector as the race to cut long term carbon footprint heats up. Green properties are increasingly cropping up around the world has become as developers look to leverage their synergies in addition to conserving the environment.

Green Property Standardization
In the race for a more sustainable world, the way buildings are constructed has drastically changed. Green building practices have become the standard in most countries wary of the impact of climate change and global warming. Developers are not only shifting towards green properties given their competitive advantage but also as a way of cutting down on the high-carbon asset class.

https://callputstrike.com/2020/07/23/green-properties-the-new-norm-in-real-estate-no-longer-a-luxury/






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