9/18 Premarket


●      Inflation didn’t even get past 2% when the U.S. economy was running with a 3.5% pre-pandemic unemployment rate, its lowest in 50 years.

○      created asset inflation but not necessarily broad economic inflation

●      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. 

○      Completed U.S. direct investment into China fell 31% to $4.1 billion, while Chinese investment into the U.S. would have plunged if not for Tencent’s $3.4 billion minority stake in Universal Music

●      Of the 11 major S&P indexes, industrials, materials and energy have gained more than 2% so far this week, while communication and consumer discretionary posted the biggest declines.

○      Asian stocks gained, led by materials and IT, after falling in the last session 

●      France’s daily cases rose by more than 10,000 to the highest since the end of lockdown in May.

●      New York City delayed the reopening of classes for in-person learning until September 29 

●      Bancel added “it is extremely unlikely” everyone in the US could get vaccinated by the end of the first quarter of 2021 

●      despite trillions of interventions and the deceiving highs on indices such as $SPX and $NDX volatility has remained stubbornly high

●      Mark Esper says China is “too far behind” US Navy, will never close the gap

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