Evening Headlines
Bloomberg:
- North Korea Says It May Send Military Into Demilitarized Zone.
- Salmon Shunned in China After Link to Beijing Virus Outbreak.
- Reserve Bank of India May Look at Japan Playbook to Tame Yields.
- Global Cases Top 8 Million as Beijing Shuts Areas: Virus Update.
- Asian Stocks, U.S. Futures Climb; Dollar Drops: Markets Wrap.
- Oil Holds Gains as Broad Producer Cuts Offset Demand Concerns. Asian stocks rebounded from their biggest decline since March and U.S. futures climbed after the Federal Reserve -- again -- boosted investor sentiment in face of worries over a second wave of the coronavirus. Japanese, Australian and Korean shares opened up over 2%. Futures on the S&P 500 advanced after the index erased losses and closed higher Monday. The dollar extended declines and Treasuries added to Monday’s losses, while crude oil held most of its gains. The Fed detailed plans to buy individual corporate bonds, underscoring its role as a backstop. S&P 500 futures rose 0.7% as of 9:13 a.m. in Tokyo. The S&P 500 Index rose 0.8% in New York. Japan’s Topix Index jumped 2.3%. Kospi Index rose 2.6%. Australia’s S&P/ASX 200 Index rose 2.8%. Hong Kong’s Hang Seng Index futures added 1.7% earlier.
- Fed Corporate QE, Outlook Less Bleak, EU Counters China: Eco Day.
- Retail Struggles Point to Cotton Supply Glut, Stalling Rally.
- Bridgewater’s Assets Shrank 15% in Virus-Fueled Trading Slump.
- U.S. Airlines Vow Tougher Enforcement of Rules on Face Coverings.
- Domino’s: This Is How A Pizza Chain Stock Did Just As Well As Google.
Wall Street Journal:
CNBC.com:
- Civil-Rights Law Protects LGBT Workers, Court Rules.
- Anarchy in the Streets of Philadelphia.
- FDA Pulls Covid-19 Approval for Malaria Drug Used by Trump.
- Tech Firms Are Spying on You. In a Pandemic, Governments Say That’s OK.
- The Toll Isolation Takes on Kids During Coronavirus Era.
- New Covid-19 Outbreak in China Rattles Beijing.
- Business Travel Won’t Be Taking Off Soon Amid Coronavirus.
CNBC.com:
- Campbell Soup CEO says June pantry sales are unusually high.
- Trump to sign executive order on police reform Tuesday.
- Texas reports record-breaking coronavirus hospitalizations, the sixth new high in a week.
- Stocks making the biggest moves after hours: Lennar, Nikola, DocuSign and more.
- Apple says consumers and advertisers spent more than $500 billion through apps last year.
MarketWatch.com:
Zero Hedge:
- Beijing Bars 'High Risk' Residents From Leaving, Closes 7 Compounds As Lockdowns Return.
- Chinese Scientist, Escorted Out Of Canadian Biolab, Sent Deadly Viruses To Wuhan.
- A Tip For The "CHAZ Republic": Start Thinking Like Conservatives.
- Bridgewater's Assets Plunged By $25 Billion During March, April Rout.
- Wealthy Chinese Rushing To Move Cash Abroad Ahead Of Yuan Weakness.
- "Slave Owner": Thomas Jefferson Statue Torn Down, Defaced At Portland High School.
- Trump: If Bolton Releases His Book "He's Broken The Law".
- Martin Armstrong: Is Defunding Police The Right Choice Or The Next Step In Revolution?
- This Is What Happens When The Twitter-Mob Takes Over.
- Calpers To Use $80 Billion In Leverage To Hit 7% Return Target.
- North Korean Army "Fully Ready" To Enter DMZ, "Throw Garbage In The Trash".
- Why The Obama Intel Assessment On Russia Collusion Is Under Investigation.
- NYC Mayor Orders Army Of COVID-19 Contact-Tracers Not To Ask About BLM Protests Attendance.
- NYPD Eliminates Entire Plainclothes Anti-Crime Unit In 'Seismic Cultural Shift'.
- Stocks Jump, Dollar Dumps As Fed Non-News Trumps Second-Wave Virus Fears.
Business Insider:
The Epoch Times:
The Epoch Times:
- Germany Pushes for Tougher EU Stance Towards China.
- Beijing City Releases Inconsistent Data on New Virus Infections as Outbreak Worsens.
- Coronavirus Global Cases. (map)
Night Trading
Morning Preview Links
Earnings of Note
Company/Estimate
Before the Open:
After the Close:
8:30 am EST
- Asian equity indices are +1.75% to +2.75% on average.
- Asia Ex-Japan Investment Grade CDS Index 87.75 -5.25 basis points.
- China Sovereign CDS 49.0 -3.75 points.
- Bloomberg Emerging Markets Currency Index 60.99 +.08%.
- FTSE 100 futures +1.8%
- S&P 500 futures +.82%.
- NASDAQ 100 futures +.79%.
Earnings of Note
Company/Estimate
Before the Open:
- None of note
- (HRB)/2.61
- (ORCL)/1.16
8:30 am EST
- Retail Sales Advance MoM for May is estimated to rise +8.0% versus -16.4%.
- Retail Sales Ex Autos MoM for May is estimated to rise +5.2% versus a -17.2% decline in April.
- Retail Sales Ex Autos and Gas for May is estimated to rise +5.0% versus a -16.2% decline in April.
- Industrial Production MoM for May is estimated to rise +3.0% versus a -11.2% gain in April.
- Capacity Utilization for May is estimated to rise to 66.9% versus 64.9% in April.
- Manufacturing Production for May is estimated to rise +5.0% versus a -13.7% decline in April.
- Business Inventories for April is estimated to fall -1.0% versus a -.2% decline in March.
- The NAHB Housing Market Index for June is estimated to rise to 45.0 versus 37.0 in May.
- None of note
- The Fed Chairman Powell speaking, German Inflation report, UK Employment Change report and the JPMorgan Energy/Power/Renewables Conference could also impact trading today.
Normal:
- 9:30 am - 4:00 pm EST
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