U.S. stock futures fell sharply early Wednesday as investors feared an increase in coronavirus infections could halt the recovering economy.
Futures for the Dow Jones Industrials dropped 475 points, or 1.7%, to 26,890. The Dow is already down 3% on the week, giving up its gain for October.
Futures for the S&P 500 slouched 50 points, or 1.5%, at 3,333.
Futures for the NASDAQ Composite let go of 147.25 points, or 1.3%, to 11,440.75.
Daily U.S. coronavirus cases have risen by a record average of 69,967 over the past week, data compiled by Johns Hopkins University showed. Meanwhile, coronavirus-related hospitalizations are up 5% or more in 36 states, according to data from the Covid Tracking Project.
This uptick has led some countries to reinstate certain lockdown measures. In the U.S., the state of Illinois has ordered Chicago to shut down indoor dining.
Stocks that would be hurt most by lockdowns … Read the rest
“Get ready to un-cable, everybody,” T-Mobile CEO Mike Sievert says in a video announcing the carrier’s newest “Uncarrier” deal dubbed TVision.
America is pretty ready. The rate of cord-cutting has been accelerating throughout the pandemic and, depending on whose stats you use, one-quarter to one-third of households don’t pay for cable (or satellite) TV anymore.
The TVision service, which will be offered first to T-Mobile customers starting next month, is yet another cable replacement plan packaging a lot of the channels you know and making them available via the Internet. That’s not unlike Google’s YouTube TV, AT&T’s AT&T TV, DirecTV’s Sling TV, Disney’s Hulu Live TV, or the dearly departed Playstation Vue from Sony. But unlike the current offerings from most of those rivals, TVision is starting life with low prices and a bit more choice–three bundles ranging from $40 to $60 per month plus a $10 option … Read the rest
(Bloomberg) — European stocks dropped to a five-month low and U.S. equity futures slumped as rising coronavirus infections and tougher lockdowns added to worries about the economic hit from pandemic.The Stoxx Europe 600 Index sank more than 2.4% after German Chancellor Angela Merkel proposed closing bars and restaurants for a month to curb the spread of the virus. All 19 industry sectors slid, with auto and real estate shares seeing the steepest declines.S&P 500 futures held a 1.5% drop even as positive earnings rolled in from two bellwether companies. General Electric Co. jumped in premarket trading after reporting a surprise profit. Airplane maker Boeing Co. also had an earnings beat. Microsoft Corp. slipped after the software company gave a revenue forecast pointing to slower growth.Haven assets, such as Treasuries and German bunds, advanced. The VIX Index, a measure of U.S. equity volatility, climbed to the highest level since June. Bitcoin … Read the rest
Retail sales fell at their fastest pace in four months in October as households reined in their spending in the face of fresh coronavirus restrictions.
The CBI’s latest monthly distributive trades survey fell from 11 per cent to -23 per cent in October. Only 36 per cent of respondents said that sales were up, which was more than offset by the 59 per cent who reported a slump.
It comes after a period of robust growth for the retail sector, which rebounded strongly when the lockdown was first lifted in the summer. Retail sales grew at their fastest pace in 18 months in September but the latest economic data suggest that the recovery is losing momentum as restrictions are tightened in parts of the country.
Ben Jones, principal economist at the CBI, said: “It’s no surprise that sales have dipped despite no new direct restrictions on retail in England, as … Read the rest
Mushrooms have found their way into coffee. All, after they’ve been found to help increase mental clarity, and assist with immune support. “Mushrooms have long been used in Chinese medicine and newer research shows they are the highest dietary source of the antioxidants ergothioneine and glutathione, which help protect the body against the type of damage that can eventually contribute to age-related diseases like cancer, heart disease, Parkinson’s and Alzheimer’s,” says Beth Warren, RDN, author of Secrets of a Kosher Girl. “Mushroom coffees and teas can give anyone a boost, but they may be especially beneficial for those who are dealing with chronic diseases and inflammation.”
Other popular benefits of mushrooms are thought to include better sleep, energy, and memory, reduced stress, and relaxation. “Mushrooms in general have some really great benefits,” explains registered dietitian Ryanne Lachman, as quoted by the Cleveland Clinic. “A big one tends to be with … Read the rest
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Today, editing is a manual, human process. Spelling and grammar checking software, such as the one built into Microsoft Word or the grammar checker Grammarly, can suggest when a word is incorrectly used or a comma misplaced. But it can’t recommend an entirely different way of writing a sentence to convey the same idea.
Now AI21 Labs, an Israeli startup co-founded by two well-known machine learning researchers and several veterans of an elite Israeli military intelligence unit, has debuted an A.I.-enabled editing tool that does exactly that. It can suggest variations of different lengths and tones, as well as help users find the best word to use in a particular circumstance.
“We are developing a true writing companion, a co-writer as opposed to a copyeditor,” … Read the rest
(Bloomberg) — Harley-Davidson Inc. shares jumped as much as 13% in premarket trading on better-than-expected profit as Chief Executive Officer Jochen Zeitz’s moves to cut costs and boost margins on a smaller revenue base paid off in the third quarter.The Milwaukee, Wisconsin-based manufacturer reported adjusted earnings per share of $1.05, beating analysts’ consensus 29 cents. In line with Zeitz’s strategy of shrinking supply and shoring up pricing, the company said dealer inventory fell more than 30% compared with a year ago, and it was able to charge asking price for 2020 model year motorcycles in the quarter.Harley shares rose as much as 13% to $32.70 in the premarket Tuesday. The stock has declined 22% this year.Zeitz, the former CEO of sneaker company Puma SE, has narrowed the motorcycle maker’s focus to core markets and model segments and scaled back ambitions for expansion overseas. Motorcycle sales in the U.S., Harley’s biggest … Read the rest
A row has broken out between Hotel Chocolat, the upmarket chocolatier, and Great Portland Estates, the London property company, souring hopes of a ceasefire between retailers and landlords.
Hotel Chocolat is locked in a stalemate with Great Portland Estates over its Regent Street store, where trading is 60 per cent below last year’s levels because tourists and office workers have stayed at home. The chocolatier, founded in 1993 and listed four years ago, has reached compromises with most of its other landlords.
The dispute is the latest in a series between retail companies and their landlords during the pandemic, which has forced store chains to demand rent reductions, waivers or a switch to rents linked with turnover to cushion them from the high street downturn. The value of property companies has tumbled in tandem with the issue, with Shaftesbury, another London landlord, last week tapping investors for £300 million.
Hotel … Read the rest