From Ice-Cold to Hot: Daily Pending Home Sales in May so Far, 15 Cities Around the US

A near-real-time roller-coaster of home sales during the pandemic via charts. By Wolf Richter for WOLF STREET. On May 28, I reported how the National Association of Realtors’ Pending Home Sales Index for the … Read more
Author: IWB | Source

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Linkfest: 01 June, 2020

Some stuff I am reading today morning: US Cities are burning (CNN) Modi indicates restricting of imports (BS) Why Airtel should seek out Google (ET) Indian dream factory turns into nightmare (Mint) India’s yield curve looks unhealthy (Andy Mukherjee) How to evaluate stocks today (Aswath Damodaran) The largest ever physical transfer of gold (Zero Hedge) […]
Author: Raoji | Source

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Key Words: Apple’s Tim Cook: Now is not the time for ‘standing on the sidelines’

Cook addressed his employees in an internal memo about inequality and discrimination as protests over the killing of George Floyd continue to erupt across the country

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Key Words: The stock market now has another risk ‘bubbling up,’ strategist warns

Meghan Shue, investment strategist as Wilmington Trust, says that while the coronavirus is still the biggest risk facing the stock market, another freshening headwind could hobble the recent rally.

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Are we about to see the end of the CBD?

I remember some years back hearing a ‘futurist’ predict that high-rise office buildings could end up being like the pyramids of Egypt – large relics for future generations to ponder. The COVID-19 work-from-home restrictions have made this prediction worth considering.  Investors now need to ask: is there trouble ahead for real estate investment trusts (REITs)… Continue reading
Author: Andreas Lundberg | Source

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In a debt deflation depression, oversupply is not the solution… it’s the problem.

#recession … #GFC2 editionvia @sunchartist In a #debt #deflation #depression, oversupply is not the solution… it’s the problem. 📉 t.co/dslhvHj4W0 — Invariant Perspective (@InvariantPersp1) May 31, 2020 Cuts to employment … Read more
Author: IWB | Source

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Key Words: The stock market isn’t reflecting reality… yet, warns Citigroup

Manolo Falco, Citigroup’s co-head of investment banking explained to the Financial Times why he believes the firm’s corporate clients should raise as much cash as possible before the reality of the pandemic sinks in for investors

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From hashtags to donations, Google, Netflix and other tech companies voice support for protesters

As protests stemming from the death of George Floyd wrack the nation, a number of leading tech companies have offered their support for demonstrators and funding for social-justice organizations.

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Dow futures fall Sunday evening after weekend of violent protests amid coronavirus pandemic

U.S. stock-index futures headed south in thin trading Sunday evening following a weekend of violent protests over the death of a black man, George Floyd, early last week in Minneapolis while in policy custody. The protests, spanning from Los Angeles to New York, resulted in violent clashes between civilians and law enforcement, and led some to speculate that it could complicate efforts by cities and states to recover from one of the worst public health disasters in more than century. “The indirect impact on the fragile collective psyche of businesses and consumers could be more serious,” Mark Zandi, chief economist of Moody’s Analytics, told MarketWatch. “Just when people were starting to come out of the proverbial bunkers, the protests may be too much for them, and they will go back in,” he speculated, referencing consumers reluctance to go out shopping in the wake of the viral outbreak. “The protests are also symptomatic of just how deep the economic problems and racial tensions go in our country,” the economist said. Although the riots, fueled by deep-seeded concerns about racial injustice in America, aren’t expected to have long-term economic implications, protests did slam the stores of major retailers owned by Target Corp. , Walmart Inc. and Nike Inc. , which are still swooning from the pandemic and were caught up in looting and vandalism that ensued during the weekend protests. Apple Inc. also said it would close some of its stores due to looting fears. Futures for the Dow Jones Industrial Average were off 160 points, or 0.6%, at 25,217, those for the S&P 500 index were 0.6% lower at 3,023.75, while Nasdaq-100 futures were 0.6% lower at 9,507.75. The protests across many major cities in the U.S. center on the death of Floyd, who is black, and perished on Monday following a confrontation with police in Minneapolis in which one officer, Derek Chauvin, was captured on videos driving his knee on Floyd’s neck until the handcuffed man lost consciousness and later died. To be sure, investors will be focused on the continued reopening of states and local businesses following lockdowns intended to halt the spread of the deadly illness derived from the novel strain of coronavirus. Intensifying conflicts Sino-American friction may also influence trading. On Friday, the Dow booked a weekly gain of 3.8%, while the S&P 500 finished 3% higher and the Nasdaq Composite Index ended the period 1.8% higher. For May, the Dow logged a 4.3% gain, the S&P 500 climbed 4.5%, while the Nasdaq marked a 6.8% return in May.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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Apple closes many U.S. stores amid protests, looting: report

Apple Inc. has temporarily closed most of its U.S. retail stores, 9to5 Mac reported Sunday, after a number of stores became targets of looters during weekend protests. “With the health and safety of our teams in mind, we’ve made the decision to keep a number of our stores in the U.S. closed on Sunday,” Apple reportedly told 9to5 Mac. Apple Stores in Minneapolis, San Francisco, Portland, Ore., and Scottsdale, Ariz., were among those vandalized or looted over the weekend. Apple did not immediately respond for comment, but a number of Apple Store locations say “temporarily closed” on their web sites, while one in San Francisco’s Union Square, which was damaged Saturday night, said it would reopen Tuesday. Apple started reopening its U.S. retail stores, which had been closed due to the coronavirus pandemic, in late May. 9to5 Mac said about 140 of its 271 U.S. locations had already been reopened.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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