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Market News

Location American Market News for 2 September 2020
Why Senate Republicans May Propose A New $500 Billion Stimulus Bill Senate Republicans are not giving up on another stimulus bill.
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NYSE Direct Listings Hit Snag

Wall Street Journal - 2 Sep 2020 00:40
An influential group of institutional investors took an unusual regulatory step in a last-ditch effort to block the plan.
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Rocket Companies, the parent of mortgage lender Quicken Loans, swung to a quarterly profit in its first results as a public company on Wednesday, driven by higher borrowings on the back of lower interest rates.
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The company faces a civil fraud investigation over its early failure to fully disclose its practice of selling clients' orders to high-speed trading firms, people familiar with the matter said.
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Thanks To Stimulus Spending, U.S. Debt Expected To Exceed The Size Of The Entire Economy Next Year Massive government relief efforts to combat the coronavirus recession have pushed the national budget deficit to $3.3 trillion.
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Ernst & Young Loses Two German Clients Amid Wirecard Scandal

Wall Street Journal - 2 Sep 2020 22:13
Commerzbank and DWS chose to drop the accounting firm's German affiliate. Both would face conflicts of interest if they decided to sue EY for any role it played in auditing Wirecard, while also being audited by it.
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Blackstone, GIP Make Takeover Bid for Kansas City Southern

Wall Street Journal - 2 Sep 2020 21:00
A group of buyout investors has made a takeover offer for railroad operator Kansas City Southern, which has a market value of more than $17 billion, according to people familiar with the matter.
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People Are Your Most Valuable Capital, Especially In A Pandemic Matthew Agarwala argues that social capital, the web of trust and good faith among employers and employees, must be preserved during the pandemic.
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Will Economic News Kick Start Stalled Stimulus Talks? Lawmakers are $900 million apart on a stimulus deal, could bad economic news bring them back to the table?
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What's Next For Bitcoin Prices After Their Latest Retracement? Bitcoin has been trading within a reasonably tight range after its recent decline. Will the cryptocurrency suffer further losses in the short-term or push higher?
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Doing the Math on Third-Quarter GDP

Wall Street Journal - 2 Sep 2020 19:34
Even if the economy performs poorly over the next month, third-quarter gross domestic product is going to look very good. And even if the economy does well in September, it will still be in a deep hole.
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Democrats Have A Plan To Overturn Trump's Payroll Tax Deferral Program The controversial program started this week without much buy-in from major private companies.
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Top Stocks To Short Today As Tesla Shares Dive Following Stock Split After attaining record highs in late August, US stock market indices continued surging in September. For those seeking ways to bet against current valuations, or simply hedge against the possibility of an overheated mark...
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Avery Dennison Stock Could See Higher Levels Despite a 50% rise since the March 23 lows of this year, at the current price of around $118 per share, we believe Avery Dennison's stock (NYSE: AVY), a global materials science company best known for its labeling produc...
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Nvidia, Cisco & Intel: How Are Internet Infrastructure Stocks Doing This Year? Our indicative Theme of Internet Infrastructure Stocks - which includes a diverse set of companies that sell semiconductor products, networking equipment, and related products that underpin the Internet - is up by about ...
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Top Stocks To Buy Today Amid Dow's Triple-Digit Surge The Dow jumped a couple hundred points this morning as optimism around its new makeup with added technology stocks seems to be going well. Our deep learning algorithms at Q.ai have used Artificial Intelligence ("AI") tec...
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So far, insurers offered coverage for pets under commercial plans and mostly paid for death or disability of the pet
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You shouldn't buy a house only because interest rates are low and because stock market returns are currently poorer than you expected
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Macy's Is No Miracle on 34th Street

Wall Street Journal - 2 Sep 2020 18:15
The retailer fared better than expected last quarter, bolstered by off-price and luxury, but that isn't enough to start celebrating.
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Real test for new tax assessment plan is execution

livemint.com - 2 Sep 2020 18:12
All pending and future assessments, other than international taxation cases, search cases and serious frauds, major tax evasion and sensitive cases, would now be continued under FAS
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If given a pink slip, 71% of salaried individuals can't manage expenses beyond six months, shows ArthaYantra data.Covid-19 has highlighted the importance of preparing for the worst, so reduce expenses and stick to a budg...
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Bullish Two Hundred Day Moving Average Cross - International Paper shares of International Paper crossed above their 200 day moving average of $37.81, changing hands as high as $38.09 per share.
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