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Forbes HeadlinesAug 08, 2020
Trump Signs Executive Orders To Extend COVID-19 Economic Relief
President Donald Trump's executive orders extend unemployment benefits, impose a payroll tax holiday, extend a federal eviction moratorium and suspend student loan payments.

MarketWatch MarketPulseAug 08, 2020
President Donald Trump to hold 3:30 p.m. ET news conference Saturday in Bedminster, N.J. after coronavirus talks flounder
President Donald Trump was set to hold a news conference on Saturday at 3:30 p.m. Eastern Time at his golf club in Bedminster, N.J., following a week of failed talks to hash out a deal to provide additional stimulus to out-of-work Americans. The planned event comes after the president held a surprise news conference at the golf club on Friday noting that he was contemplating signing a raft of executive orders that would place a moratorium on evictions, expand some unemployment benefits, defer student loan payments and defer payroll taxes for the rest of 2020. Those executive orders, however, fall short of what Congress can enact to help millions who have been economically hurt by business closures due to the novel strain of coronavirus from which COVID-19 is derived.On Friday, Democratic congressional leaders and Trump administration negotiators emerged from last-ditch coronavirus aid bargaining meetings empty-handed. Disagreement centered on the enhanced federal jobless benefits, $600 weekly add-on payments to the unemployed that lapsed in July, and how much to give to states. It's unclear what Trump's executive orders, should he decide to take that tacked, would do to negotiations between parties going forward. Friday served as a self-imposed deadline for a deal to be achieved before Congress goes into a summer recess. If lawmakers do not return to Washington later in August, the next likely window for negotiations is either September, when they will be focused on passing a temporary spending bill to keep the government open past Sept. 30, or after the Nov. 3 election. Investors have been keenly watching negotiations, with U.S. benchmarks trading as if a deal of some kind will be struck. The Dow Jones Industrial Average ended Friday trade with weekly gain of 3.8%, the S&P 500 index booked a weekly gain of 2.5%, while the technology-heavy Nasdaq Composite Index also notched a roughly 2.5% gain for the five-session period.

Market Pulse Stories


MarketWatchAug 08, 2020
Next Avenue: Should you volunteer for a COVID-19 vaccine trial? Who qualifies, and what are the side effects?
Clinical trials of vaccines are being developed by several companies. Here's who they're looking for, and what's involved.

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Yahoo BusinessAug 08, 2020
Buffett Bought Back His Own Stock While Selling Others
(Bloomberg) -- Shares of Berkshire Hathaway Inc. were left out of the stock market rally in the second quarter. Warren Buffett clearly thought the disconnect wasn't warranted.The famed investor spent a record $5.1 billion buying back Berkshire's own stock in the second quarter, more than double the amount he'd ever purchased before. That came as he unloaded almost $13 billion of other companies' shares, including airline stocks and some financials, in what was his biggest selling quarter in more than a decade.Buffett has been building up cash this year and took a more cautious tone at his annual meeting in May as the Covid-19 pandemic has slammed the economy without putting a permanent dent in stock-market valuations. But his appetite for his own stock in the second quarter, along with recent signs that he's been willing to put more money to work, are reasons for some optimism, according to Jim Shanahan, an analyst at Edward Jones."The buybacks are a relatively safe way to deploy capital in an uncertain environment," said Shanahan, who estimated that Berkshire repurchased another $2.4 billion of shares in July. "But it's clear that that's not all he's doing."Buffett's cash pile surged to a record $146.6 billion at the end of June, in part from dumping all of his airline shares in April. He's been more active lately, striking a deal for natural-gas assets in July and snapping up at least $2 billion of Bank of America Corp. stock in recent weeks through Aug. 4. Overall, Saturday's disclosures signaled to longtime sharehol

MarketWatchAug 08, 2020
Outside the Box: Why my company's 7,000 employees won't rush back to the office even when the coronavirus pandemic is under control
Without coordinated national policy to address COVID-19, businesses must fill the leadership void, writes Sanjiv Das.

Yahoo BusinessAug 08, 2020
Buffett's Grim View of Air Travel Realized in $10 Billion Charge
(Bloomberg) -- Warren Buffett's dire airline predictions have hit close to home.After dumping his stakes in airlines earlier this year with a warning that the pandemic had unleashed fundamental change on that business, Buffett's own Berkshire Hathaway Inc. took a roughly $10 billion impairment charge tied to Precision Castparts, its massive maker of plane parts. A vaccine may be the only remedy for the pandemic's "particularly severe" impact on the aerospace market, Berkshire said."The Covid-19 pandemic produced material declines in commercial air travel during the second quarter," Berkshire said Saturday in a regulatory filing discussing second-quarter results. "Airlines responded by reducing and/or cancelling aircraft orders, which is resulting in significant reductions in build rates by aircraft manufacturers and significant inventory reduction initiatives being implemented by PCC's customers."At Berkshire's annual meeting in May, Buffett announced a full reversal on his airline bet, with his conglomerate going from one of the biggest shareholders in all four major U.S. carriers to owning none. A rally in airline shares over the next month had critics including President Donald Trump saying Buffett had erred, but the S&P 500 Airlines index is down 26% since that early June high.Despite those stock sales, the Omaha, Nebraska-based company still had a significant exposure to the air travel slump through Precision, a business it bought more than four years ago in a deal valued at $37.2 billion.Now,

Yahoo BusinessAug 08, 2020
Coronavirus punishes Warren Buffett, as Berkshire Hathaway takes big writedown
Berkshire, which acquired Precision for $32.1 billion in 2016 in its largest acquisition, said COVID-19 caused airlines to slash aircraft orders, resulting in significantly less demand for Precision's products and revenue to fall by about one-third. It also said results may continue suffering as the unit undertakes an "aggressive restructuring" to shrink operations to meet lowered demand. Precision was not the only drag on Berkshire, which said the pandemic has caused "relatively minor to severe" damage to most of its more than 90 operating businesses, which include the BNSF railroad, Geico auto insurer and See's candies.


Chicago Tribune Business NewsAug 07, 2020
Second stimulus check updates: Coronavirus relief talks collapse; no new aid for millions of jobless Americans
A last-ditch effort by Democrats to revive collapsing Capitol Hill talks on vital COVID-19 rescue money ended in disappointment on Friday.

KiplingerAug 07, 2020
6 Best Biotech ETFs to Buy for Cutting-Edge Growth
Biotech ETFs are, in a word, hot.

The biotechnology industry, if it were a sector, would be the second-best performing one in 2020. Biotech stocks collectively have generated 21% total returns (price plus dividends) on average, lagging only technology, which is up 26% year-to-date. That's no surprise given the rush of investors into stocks developing treatments and vaccines for COVID-19.

But biotech ETFs are no flash in the pan. If you go back over the past decade, it has returned 524%. That beats every last sector, it beats the broader health care sector by 200 percentage points, and it's nearly double the S&P 500's total return in that same time frame.

There's clearly money to be made in the discovery of new treatments for anything, from COVID-19 to cancer, from rare diseases to everyday ailments such as asthma or eczema.

Biotech stocks carry substantial risks, of course, especially when it comes to smaller companies that might have just one or two revenue streams, or even no marketed products. While positive data from a drug trial could send their stocks soaring, a setback or failure can crush their returns, making them difficult buy-and-hold investments.

Biotech ETFs offer an answer. Instead of betting on individual drugs or companies, they allow you to buy the whole industry, spreading out risk across dozens or even hundreds of firms at a time.

Here are six biotech ETFs to buy. Some provide well-rounded access to the space, while others acutely focus on certain aspects of the space, such as cancer treatments or drugs to battle infectious diseases.

SEE MORE 19 of the Best Stocks You've Never Heard Of Data is as of Aug. 6. Yields represent the trailing 12-m

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