Dow plummets 615 points amid growing fears of another virus lockdown

Getty Images / Xinhua News Agency Stocks started the week off significantly lower after reports over the weekend about rising COVID-19 daily cases and allegations of money laundering at big-name banks. Political uncertainty is on the rise following the death of Supreme Court Justice Ruth Bader Ginsburg as the US approaches its presidential election in November. Watch major indexes update […]

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Global stocks slide as France, Spain, and the UK record thousands of new COVID-19 cases

Brendan McDermid/Reuters Global stocks fell on Monday, as surging cases of COVID-19 in Europe rattled investors over the largest regional outbreak in recent weeks. Shares of European banks dragged regional indices lower following reports that they moved large sums of money from suspicious transactions over nearly twenty years.  US futures pointed to a fourth day of declines later on when […]

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The stock market will become disconnected from the economy in 2021 as companies expand layoffs, money manager says

Ina Fassbender/AFP/Getty Images The stock market will become disconnected from the economy in 2021, as a lot of layoffs become permanent, a money manager said.  RiverFront Investment Group’s Kevin Nicholson, said firms focusing on profitability next year will create a “divergence between the economy and the market.”  More than 13.5 million Americans are still out of work compared to a […]

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U.S.-China investment flows hit their lowest in 9 years as companies feel the pressure to pull out

The total value of foreign direct investment and venture capital deals between the U.S. and China fell to a near nine-year low, research and consulting firm Rhodium Group said in a report.   Divestitures, such as China-owned ByteDance's forced sale of its U.S. TikTok operations, are likely to persist. However, in some industries American businesses remain committed to growing in the […]

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Roche jumps 2% after unveiling COVID-19 antibody test, and on finding its drugs cut need for ventilators

Reuters Shares in Swiss healthcare group Roche rose 2% on Friday after the company launched a new test to measure COVID-19 antibodies, and provided evidence its drugs reduce need for ventilators. The new measure is Roche’s 12th test in its coronavirus portfolio. The company has filed for emergency-use authorization from the US Food and Drug Administration. In a separate study, […]

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Global stocks weighed down by virus angst, lack of stimulus

LONDON/SINGAPORE (Reuters) – Stocks struggled on Friday as worries about a resurgence in coronavirus cases and lingering disappointment that central banks merely affirmed their monetary support this week, without promising new stimulus, kept investors wary.The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 17, 2020. REUTERS/StaffOil rose after OPEC flagged a crackdown […]

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‘Portnoy momentum’ can drive Penn National 25% higher, Stifel says

Getty Images / Cliff Hawkins Shares of Penn National Gaming are set to continue benefiting from the “Portnoy momentum trade” as sports-betting euphoria extends into the fall football season, Stifel said on Wednesday. “The recent launch of the Barstool Sportsbook app coupled with other sports betting ‘announcements’ should allow the shares to continue riding the sports betting euphoria wave higher,” […]

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