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MarketWatch MarketPulseSep 22, 2020
Nasdaq's big bounce comes despite just a minority of stocks gaining ground
The Nasdaq Composite bounced 1.1% in afternoon trading Tuesday, putting it on track to snap a four-day losing streak in which its slumped 3.7%, but the rally comes despite most stocks trading lower. The number of declining stocks on the Nasdaq exchange outnumbered advancers 1,758 to 1,459. On the plus side, however, volume in advancing stocks made up 58.0% of total volume, suggesting the larger-capitalized, more active minority were helping drive the market-cap weighted index higher. Meanwhile, the Dow Jones Industrial Average rose 91 points, or 0.3%, and the S&P 500 gained 0.7%. Breadth data on the NYSE was the opposite of the Nasdaq's, as advancers outnumbered decliners by 1,514 to 1,390, but advancing volume made up just 44.3% of total volume.

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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MarketWatchSep 22, 2020
Market Snapshot: Dow gains some altitude as shares turn positive despite rising stock-market jitters
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.

MarketWatch MarketPulseSep 22, 2020
Sanofi, GlaxoSmithKline signs deal with Canada to deliver 72 million doses of potential COVID-19 vaccine
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.



MarketWatch MarketPulseSep 22, 2020
Oil futures finish higher ahead of data expected to show a weekly decline in U.S. crude supplies
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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Gold futures end lower for a second session (MarketWatch MarketPulse)

MarketWatch Breaking NewsSep 22, 2020
These cheap stocks could see huge gains during a vaccine-driven economic rebound
These cheap stocks could see huge gains during a vaccine-driven economic rebound

Yahoo BusinessSep 22, 2020
Barstool App Breaks DraftKings Download Record, Analyst Says
(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

MarketWatchSep 22, 2020
Europe Markets: European stocks nudge higher after worst drubbing in three months amid second wave concerns
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.

MarketWatch MarketPulseSep 22, 2020
Europe-linked ETFs fall as 'second wave' appears, on track for worst week in three months
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.



MarketWatch MarketPulseSep 21, 2020
The triple-Qs' 50-day moving average set to decline for first time since May 5
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.



MarketWatch MarketPulseSep 21, 2020
U.S. airline stocks plunge on renewed lockdown fears
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.



MarketWatch MarketPulseSep 21, 2020
Financial ETFs tumble most in 3 months after money laundering allegations
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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