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Yahoo BusinessAug 11, 2020
Coronavirus Latest: Tuesday, August 11
Both Inovio and BionNTech announced that they are making headway in their coronavirus vaccine trials, and will be able to meet deadlines toward the end of the year or a the start of 2021. Yahoo Finance's Anjalee Khemlani breaks down the latest news about the coronavirus on The Final Round.


Washington Post BusinessAug 11, 2020
Trump's Social Security payroll tax holiday is the first shot in a class and generational war
Trump is saying that he'll eliminate Social Security tax next year, should he be reelected—and that would likely mean the end of the federal entitlement system as we've known it.

MarketWatch MarketPulseAug 11, 2020
Stock-market ETFs little-changed after Joe Biden picks Kamala Harris as running mate
Moves in stock-index exchange traded funds were muted after presumptive Democratic presidential nominee Joseph Biden Tuesday evening announced that he had selected Kamala Harris as his running mate in the 2020 election. The pick is significant because 77-year old Biden would be the oldest president elected since Donald Trump took office in 2017. Harris is 55. Markets view presidential picks through the lens of the impact on the economy and the candidates overall financial market. The SPDR S&P 500 ETF Trust was trading 0.1% higher in after-hours trade Tuesday, the SPDR Dow Jones Industrial Average ETF Trust was trading up less than 0.1% in after-hours action, while the Invesco QQQ Trust Series I, also known as the Qs, were trading 0.3% higher after the closing bell. In the regular session, the S&P 500 index finished off 0.8% at 3,333, led by declines in utilities , off 2.1%, real estate, down 1.9%, and information technology closing 1.8% lower. Tech and tech-related shares, part of the market's leadership in the recovery from coronavirus-induced lows put in on March 23, have been taken a breather over the past several sessions as investors presumably rotate into other sectors that of the market that have been under-loved. Meanwhile, the Dow Jones Industrial Average closed down 0.4% at around 27,687, while the technology-laden Nasdaq Composite index finished down 1.7% at about 10,783. Biden currently leads incumbent President Donald Trump by 7.2 percentage points in an average of national polls,according to RealClear Politics.

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.



MarketWatchAug 11, 2020
Market Snapshot: Dow up more than 250 points as S&P 500 nears all-time high
Stocks trade higher Tuesday, with shares of cyclical companies continuing to outpace previously highflying tech stocks, while the S&P 500 approached its all-time closing high from February, nearly completing a rebound from its pandemic-induced plunge earlier this year.

MarketWatch MarketPulseAug 11, 2020
Red Robin shares drop 5% on plunge in sales, widening loss
Red Robin Gourmet Burgers Inc. shares were down 5% in after-hours trading Tuesday after the restaurant chain reported fiscal second-quarter results that fell far short of Wall Street estimates. Red Robin executives blamed the shortfall on the closure of restaurants during the pandemic. Red Robin reported a net loss of $56.3 million, or $4.09 a share, versus net income of $981,000, or 8 cents a share, in the year-ago quarter. Revenue slumped 48% to $161.1 million from $308 million a year ago. Analysts surveyed by FactSet had expected a loss of $3.27 a share on revenue of $166.6 million. Red Robin shares are down 67% this year. The broader S&P 500 index has improved 3% in 2020.

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.



MarketWatch MarketPulseAug 11, 2020
Oil futures pull back from highest levels since March to finish lower
Oil futures settled with a loss on Tuesday, with U.S. prices pulling back from their highest intraday level since March. A monthly report from the Energy Information Administration showed lower expectations for this year's U.S. crude output, along with higher 2020 oil-price forecasts. Phil Flynn, senior market analyst at The Price Futures Group, referred to that report as "bullish," but said "oil could not ignore the big correction in precious metals." The sharp selloff in gold and silver Tuesday "led to some trickle over margin selling on oil," said Flynn. September West Texas Intermediate oil declined by 33 cents, or 0.8%, to settle at $41.61 a barrel on the New York Mercantile Exchange. Prices for the front-month contract traded as high as $42.94 during the session, the highest intraday mark since early March, according to FactSet data.

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.



Yahoo BusinessAug 11, 2020
Small Businesses Are Dying by the Thousands — And No One Is Tracking the Carnage
(Bloomberg) -- Big companies are going bankrupt at a record pace, but that's only part of the carnage. By some accounts, small businesses are disappearing by the thousands amid the Covid-19 pandemic, and the drag on the economy from these failures could be huge.This wave of silent failures goes uncounted in part because real-time data on small business is notoriously scarce, and because owners of small firms often have no debt, and thus no need for bankruptcy court."Probably all you need to do is call the utilities and tell them to turn them off and close your door," said William Dunkelberg, who runs a monthly survey as chief economist for the National Federation of Independent Business. Nevertheless, closures "are going to be well above normal because we're in a disastrous economic situation," Dunkelberg said.Yelp Inc., the online reviewer, has data showing more than 80,000 permanently shuttered from March 1 to July 25. About 60,000 were local businesses, or firms with fewer than five locations. About 800 small businesses did indeed file for Chapter 11 bankruptcy from mid-February to July 31, according to the American Bankruptcy Institute, and the trade group expects the 2020 total could be up 36% from last year.While the busineses are small individually, the collective impact of their failures could be substantial. Firms with fewer than 500 employees account for about 44% of U.S. economic activity, according to a U.S. Small Business Administration report, and they

Yahoo BusinessAug 11, 2020
Qualcomm Win in Antitrust Suit Restores Lucrative Licensing
(Bloomberg) -- Qualcomm Inc.'s lucrative patent licensing business lives on, after a court rejected a requirement that the company renegotiate billions of dollars worth of agreements with smartphone makers.The chipmaker won a major victory Tuesday in a federal appeals court, which ruled that a judge was wrong to side with the Federal Trade Commission in 2019 in finding that Qualcomm had violated antitrust law. The appeals court also vacated an order that the company redo licensing accords with smartphone makers like Apple Inc. and Samsung Electronics Co. Such licenses generated $4.6 billion in revenue for Qualcomm last year.Qualcomm climbed more than 5% on the news, and shares were trading at $111.11 at 2 p.m. in New York. "The court's ruling is disappointing and we will be considering our options," FTC Bureau of Competition Director Ian Conner said in a statement.The case won't return to the trial judge, but the FTC can ask that it be reconsidered by the full appeals court. If Tuesday's ruling stands, it'll represent the end of years of legal and regulatory entanglements for the largest maker of chips that run smartphones. In July, Qualcomm announced that China's Huawei Technologies Co. has signed a licensing deal and paid up on withheld patent fees. That agreement has brought Huawei, the last major holdout, into the list of Qualcomm's customers."The court of appeals unanimous reversal, entirely vacating the district court decision, validates our business model and patent licensing program and underscore

MarketWatch MarketPulseAug 11, 2020
Financial ETFs surge as investors bet on left-behind sectors
Financial sector ETFs outperformed Tuesday as investors rotated away from pricier technology stocks in favor of sectors that haven't participated in the months-long rally from the March lows. The Fidelity MSCI Financials Index exchange-traded fund and the Financial Select Sector SPDR Fund were both up just over 2% at midday, topping the 0.4% gain for the S&P 500 . So far in August, both funds have notched their best monthly gain since April, following declines of more than 20% in the March market sell-off. Financial ETFs were boosted Tuesday by gains in shares of J.P.Morgan Chase Inc. and Regions Financial Corporation , both among the day's biggest gainers, up nearly 5%, and by a jump in the yield of the 10-year U.S. Treasury note .

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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