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 Gold prices on Tuesday end lower for a second session as the dollar continues its climb on the back of concerns about fresh COVID-19 lockdowns implemented in London and other parts of Europe, continues.
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Stocks were modestly higher on Tuesday, coming off their intraday lows as Wall Street struggled with worries about renewed coronavirus lockdowns in Europe and rising political uncertainty in the U.S.
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 Sanofi and GlaxoSmithKline PLC announced Tuesday that the companies have signed agreements with Canada to supply up to 72 million doses of their COVID-19 vaccine, starting in 2021. The companies had initiated a Phase 1/2 study on their vaccine candidate on Sept. 3, and expect first results in early December to support the initiation of a Phase 3 study before the end of the year. The companies said if the data is sufficient, they plan to request regulatory approval in the first half of 2021. "To address a global health crisis of this magnitude, it takes partnerships and we are grateful to Canada for its collaboration, and to [GlaxoSmithKline] for partnering with us to develop a safe and effective vaccine," said Thomas Triomphe, global head of Sanofi Pasteur. Separately, Moderna Inc. said Canada has increased its order commitment to 20 million doses of the company's COVID-19 vaccine candidate, mRNA-1273. Moderna said its Phase 3 study has enrolled more than 75% of its participants. Shares of Sanofi have slipped 0.9% year to date, GlaxoSmithKline's stock has dropped 19.7% and Moderna's stock has soared 248.7%, while the S&P 500 has gained 1.8%.
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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 Tesla is a buy 'if you wait 10 years' says analyst skeptical of big battery day
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Oil futures finished higher on Tuesday ahead of data that are expected to show a second straight weekly decline in U.S. crude supplies. On average, analysts polled by S&P Global Platts expect the Energy Information Administration on Wednesday to report a fall of 4 million barrels in domestic crude inventories for the week ended Sept. 18. Oil's climb Tuesday was modest however, as energy traders struggled "to assess the uncertainty with U.S. production as we approach the last two months of hurricane season [and] how bad the demand outlook will get following the winter wave of the coronavirus," as Libyan oil production slowly bounces back, said Edward Moya, senior market analyst at Oanda. October West Texas Intermediate oil , which expired at the end of the day's session, rose 29 cents, or 0.7%, to settle at $39.60 a barrel on the New York Mercantile Exchange. The new front-month contract, November WTI crude settled at $39.80, up 26 cents, or 0.7%.
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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The cloud-native data monitoring and analytics specialist addresses a large market, but competition is intensifying.
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 These cheap stocks could see huge gains during a vaccine-driven economic rebound
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‘If she agrees to move, and puts the money in her bank account — a joint account with one of her grandchildren — what happens to the money? She gave that grandchild survivorship rights.'
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Market participants seem generally uncertain what to expect from the future, but not with these companies.
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The online marketplace for used cars said it expects record revenue in its third quarter.
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British Airways-backed study warns that without U.S.-U.K. travel, U.K. economy could have £11 billion hit.
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 (Bloomberg) -- Elon Musk cautioned Tesla Inc. will unveil something that won't be widely produced for two years, tempering expectations for the company's long-awaited battery day.Tesla shares fell as much as 6% and were down 5.2% at $425.97 as of 9:50 a.m. in New York. The pull-back comes after massive gains in recent months fueled in part by anticipation of Tuesday's event. Musk said the information he'll announce will affect production of Tesla's Semi, Cybertruck and Roadster models, all of which have been unveiled in the form of prototypes but are still in development.In another tweet, Musk warned of the "extreme difficulty" of scaling up production of new technology. It was the latest in a series of posts that were more measured about the much-hyped event the chief executive officer had previously talked up. The company's shareholder meeting and subsequent battery briefing get underway starting at 1:30 p.m. local time in California.Musk said in another tweet that Tesla will need to start producing its own battery cells to support its various products, even as it ramps up purchases from outside suppliers. He wrote that the company expects there to be significant shortages of cells in 2022 and beyond unless it ramps up output of its own.Tesla's most important and longstanding partner on batteries is Osaka-based Panasonic Corp. The two companies jointly operate a massive plant outside of Reno, Nevada, where Panasonic makes the cells and Tesla manufactures battery packs for its cars.But Musk has never been k
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 (Bloomberg) -- Penn National Gaming Inc. shares rose as much as 4.5% in early trading Tuesday after Morgan Stanley said Penn's minority owned Barstool Sportsbook betting app achieved a record 21,000 downloads per day in its first weekend, breaking DraftKings Inc.'s and Flutter Entertainment Plc's FanDuel's daily records.Preliminary data from market intelligence firm Sensor Tower show Barstool sportsbook app, which soft launched in Pennsylvania on Sept. 15, had 63,000 downloads in its first weekend, analyst Thomas Allen wrote in a note.That compares to DraftKing's sportsbook downloads of just 4,000 during its opening weekend in New Jersey in Aug. 2018 and its single-day record download of 15,000 on Sept. 10, this year's NFL season opener. Barstool's weekend and single-day performance also topped FanDuel's inaugural weekend launch downloads of 9,000 over the 2018 NFL opening weekend and its single-day download record of 19,000 on Sunday, Sept. 13, Allen noted.Barstool's app downloads have started out "extremely strong," yet competitor downloads didn't seem to "slow meaningfully," the analyst said. Based on the weekend's download data, Allen believes Barstool is "expanding the market rather than cannibalizing" it, which is a bullish sign for the sector, he said.Allen downgraded both Penn National and DraftKings last month to equal-weight from overweight, citing valuation after both stocks had skyrocketed this year. In April, DraftKings began trading as a public company after a reverse merger with Diamond
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 Stock futures were mixed Tuesday on the heels of another sharply negative day for US equities. The S&P 500 closed out Monday's regular session lower for a fourth straight day, marking its longest losing streak since February.
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European stocks edged higher Tuesday after their worst one-day performance in more than three months, as the Continent faces tighter economic restrictions due to rising cases of coronavirus.
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 General Electric announced plans to cease making coal-fired power plants to focus on its core renewable energy and power generation businesses. The stock dropped almost 8% on Monday.General Electric (GE) said the exit from its steam power business may include divestitures, site closings, job cuts and other considerations for publicly held subsidiaries. At the same the company committed to work with customers on current obligations as it pursues the exit.The exit is part of GE's strategy to invest in its core renewable energy generation businesses, and to make electricity more affordable, reliable, accessible, and sustainable. However, GE steam power will continue to deliver turbine islands for the nuclear market and service existing nuclear and coal power plants."With the continued transformation of GE, we are focused on power generation businesses that have attractive economics and a growth trajectory," said GE's Russell Stokes. "As we pursue this exit from the new build coal power market, we will continue to support our customers, helping them to keep their existing plants running in a cost-effective and efficient way with best-in-class technology and service expertise."Last week GE's CEO Larry Culp disclosed that he expects to see positive industrial free cash flow (FCF) in the second half of 2020. In addition, the company is making "good progress" in reducing costs by $2 billion and generating cash savings of $3 billion to cope with the coronavirus pandemic, Culp said.Follow
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 On Friday evening, so many of us let out a collective gasp when hearing of Supreme Court Justice Ruth Bader Ginsburg's passing. As a marketer across innovation and media, a female and a current law student seeking an advanced law degree in intellectual property, RBG's passing hit me in a unique way. I see her...
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Exchange-traded funds with European stock exposure fell for a second day, putting them on track for their worst week since early June as coronavirus cases mounted and governments took steps to curtail economic activity to contain the spread. The iShares MSCI Eurozone ETF was down 0.7% at midday, while the iShares Core MSCI Europe ETF and the Vanguard FTSE Europe ETF both lost 0.6%. In the U.S., stock indexes were mixed: the broad-market S&P 500 was flat. European stocks haven't enjoyed the same recovery from the market turmoil of the spring that domestic stocks have. The ETFs noted above have lost 10-11% in the year to date. That has prompted some analysts to recommend them as a value strategy, but a resurgence of the coronavirus might scuttle that idea.
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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U.S. stock futures pointed to a mixed open Tuesday, one day after a late-session turnaround cut the Dow's nearly 1,000 point decline almost in half.
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The Invesco QQQ ETF , which tracks the tech-heavy Nasdaq 100 index , is shedding 0.9% in afternoon trading toward a 7-week low, with just 26 of its 104 components gaining ground. The triple-Qs is on track for a third-straight close below its 50-day moving average (50-DMA), which many on Wall Street view as a guide to the intermediate-term trend. What may be more important to the triple-Qs' outlook is that the 50-DMA is also headed for a decline Monday, which would be the first since May 5. Some chart watchers believe falling below the 50-DMA, and particularly when the 50-DMA is sloping lower, marks a change in pattern to neutral, if not bearish. The triple-Qs are down 10.3% so far this month, putting them in danger of the biggest monthly decline since November 2008. Among the triple-Qs' more heavily weighted components, Apple Inc.'s stock is below its 50-DMA, but that average is still ticking higher; Microsoft Corp. shares are heading for the for the 10th close below the 50-DMA, which has been declining since Sept. 11; and Amazon.com Inc.'s stock is headed for the 7th-straight close below the 50-DMA, which has been declining for three days. Meanwhile, the S&P 500 is falling 2.1% and headed for the 2nd-straight sub-50-DMA close, while the average is still ticking higher.
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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Purchasing the creator of The Elder Scrolls and other video-game franchises narrows the gap between Microsoft's Xbox console and Sony's market-leading PlayStation.
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Analysts believe Trump is considering conservative women judges like Lagoa, Amy Coney Barrett and Allison Jones Rushing
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Shares of major U.S. airlines tumbled Monday, with Delta Air Lines Inc. shares the worst hit and off nearly 9%. Airlines have been battling renewed fears of more lockdowns, especially in the U.K., and the looming expiration of U.S. government aid to protect airline jobs. Shares of JetBlue Airways Corp. and shares of United Airlines Holdings Inc. each fell around 8%. Southwest Airlines Co. stock fared better, down less than 6%. Earlier Monday, a joint report commissioned by industry groups and companies said that the all-but-closed air bridge between the U.S. and the U.K. will cost the U.K. economyabout $41 million a day by the beginning of October.
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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Financial ETFs tumble most in 3 months on bank investigation
Exchange-traded funds tracking the financial sector sank Monday in the wake of a report that said big banks have assisted criminals in laundering money. The Financial Select Sector SPDR Fund and the Vanguard Financials ETF were both down 3.7% at midday, underperforming the S&P 500 , which fell 2.2%. The Invesco KBW Bank ETF, which has more concentrated exposure to banks than a broader financials tilt, was nearly 6% lower, on track for its worst day since June 26. Among the ETFs that track the 11 sectors of the S&P 500, XLE wasn't the biggest loser on Monday: that was the Energy Selector Sector SPDR Fund , down 4%. Energy is still the worst performing sector in the year to date, having lost nearly half its value, while financials are down 23%.
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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