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Yahoo BusinessSep 18, 2020
Stock market news live updates: Futures point to tech rebound; Trump moves against TikTok, WeChat
Tech stocks are suffering despite little change in the outlook, and the broader market is falling in their wake.


MarketWatch MarketPulseSep 18, 2020
U.S. Steel's stock gains after upbeat third-quarter outlook
Shares of U.S. Steel Corp. rallied 1.1% in premarket trading Friday, after the steel producer provided an upbeat third-quarter outlook, including a "significantly better" performance expected for its flat-rolled business and signs that the tubular business has bottomed. The company said it an adjusted per-share loss of $1.45, compared with the FactSet loss consensus of $1.52. "Improving market conditions experienced in June and July have accelerated through August and September," said Chief Executive David Burritt. "We have grown confident in the recovery that is underway in North America and Europe," he said. The stock has dropped 26.3% year to date through Thursday, while the Dow Jones Industrial Average has slipped 2.2%.

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 18, 2020
Coronavirus tally: Global cases of COVID-19 top 30 million, 946,490 deaths and U.S. death toll close to 200,000
The global tally for confirmed cases of the coronavirus that causes COVID-19 climbed above 30 million on Friday, according to data aggregated by Johns Hopkins University, while the death toll rose to 946,490. At least 20.5 million people have recovered. The U.S. has the highest tallies in the world with 6.7 million cases and 197,644 deaths. Brazil has the second highest death toll at 134,935 and third highest case tally at 4.5 million. India is third with 84,372 deaths and second with 5.2 million cases. Mexico is fourth with 72,179 deaths and seventh with 684,113 cases. The U.K. has 41,794 deaths and 384,087 cases, the highest death toll in Europe and fifth-highest in the world. Controversial coronavirus-testing guidelines posted on the CDC website that said asymptomatic people don't need to get tested even if they have been exposed to the virus were not actually written by the CDC, the New York Times reported Thursday, and were posted over the objections of CDC scientists.

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 18, 2020
Commerce Dept. issues order prohibiting WeChat, TikTok dealings
The U.S. Commerce Department said Friday it is prohibiting transactions involving Tencent's WeChat and Bytedance's TikTok. "While the threats posed by WeChat and TikTok are not identical, they are similar. Each collects vast swaths of data from users, including network activity, location data, and browsing and search histories," the release said. As of Sept. 20, any provision of service to distribute or maintain the WeChat or TikTok mobile applications, constituent code, or application updates through an online mobile application store in the U.S. is barred, as is any provision of services through the WeChat mobile application for the purpose of transferring funds or processing payments within the U.S. The order makes no mention of the Oracle deal with TikTok but said "the President has provided until November 12 for the national security concerns posed by TikTok to be resolved."

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 18, 2020
Unity Software's stock indicated to open 25 % above IPO price
Unity Software Inc.'s stock is currently indicated to open on the NYSE at $65 to $67, according to data provided by FactSet. That would be 25.0% to 28.8% above the videogame software company's $52 initial public offering price. The stock's opening indication has climbed steadily, from an initial indication of $59 to $61. The company is going public Friday at a time the Renaissance IPO ETF is slipping 0.3% while the S&P 500 is easing 0.2%.

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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Yahoo BusinessSep 18, 2020
3 Big Dividend Stocks Yielding Over 8%; JMP Says ‘Buy'
From the end of March through the end of August, stocks had a tremendous runup to record high levels. The gains completely wiped out the losses from the mid-winter ‘coronavirus collapse,' and it looked like we were in for a sustained run of good days. But all of that changed as September rang in. The market hit a bump, and has been undergoing a correction. The Nasdaq is down nearly 7%, and volatility has been high so far this month.A new report from Canaccord's Tony Dwyer puts the situation into perspective by pointing out the major source of uncertainty: "In a true statement of the obvious," he writes, "this is the most complicated election-year setup we could possibly have." He goes on to note the four most important ‘unknown' factors: how the voting will actually happen this year, and avoiding vote fraud; who will win the White House; if the Democrats will sweep the Federal level elections; and, if the loser will concede the contest without a dragged-out legal battle. These are points giving investors ulcers at night.Dwyer balances all of that with the predictable factor: "Unlike the political backdrop, which is totally unpredictable, we know the Fed intends to keep rates at zero and to keep intervening when there are any signs of stress." An active central bank will continue injecting liquidity into the system, which will be bullish for stocks. In Dwyer's view, the only question is, what tools will the Fed use?So, in a situation that recalls Donald Rumsfeld's ‘unknown unknowns,' many investors are gravitating toward defen

MarketWatch MarketPulseSep 18, 2020
U.S. current account deficit widens sharply to $170.5 billion in second quarter
The U.S. current-account deficit, a measure of the nation's debt to other countries, widened sharply in the second quarter. The current-account deficit widened to $170 billion from a revised $111.5 billion in the first quarter. This is a 52.9% increase. The large widening reflected an expanded deficit of goods and reduced surpluses on primary income and on services, the government said. The current account reveals if a country is a net lender or debtor. The current account deficit was equal to 3.5% of GDP in the second quarter, up from 2.1% in the prior quarter. The current-account deficit peaked in 2005 at 6.3%.

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.



MarketWatchSep 18, 2020
Europe Markets: European travel stocks slump amid rising concerns over second wave of coronavirus as M&A chatter lifts Covestro
European stocks were struggling for traction on Friday, with concerns over rising coronavirus cases weighing on airlines. Deal news drove down shares of CaixaBank and up shares of Covestro.

MarketWatch MarketPulseSep 17, 2020
Walmart's new 'team-based' operational model comes with higher pay for workers
Walmart Inc. said Thursday that it is shifting to a "team-based operating model" in its Supercenters, which will raise wages for about 165,000 U.S. workers. The model has already been used in the Sam's Club warehouses and at Neighborhood Markets. Associates will work in small teams that will be trained in different functions, presenting the chance to learn more skills and provide more flexibility, according to the retailer. Co-managers will now be store leads, assistant store managers now hold a "coach" title, and department managers will now be team leads. Wages for team leads will start at $18-to-$21 per hour and go up to $30 in the Supercenters. Skilled frontline workers will also get a raise, with wages for deli and bakery workers going up to $15 from $11 per hour. Several auto center care roles will also see a pay increase of $1 per hour or more. Workers will see their pay hike go into effect in October and will be eligible for bonuses in the third and fourth quarters of this year. Walmart stock has gained 15% for the year to date while the Dow Jones Industrial Average is down 2.3% for the period.

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 17, 2020
Stocks open lower with Fed, economic data a reminder of economy's headwinds
U.S. stocks fell at the start of trading Thursday as investors digested Wednesday's remarks by Federal Reserve Chairman Jerome Powell that monetary policy could only do so much to support the economy in the absence of additional fiscal stimulus. The Dow Jones Industrial Average lost about 304 points, 1.1%, to open near 27,728, while the S&P 500 fell 1.6%, 52 points, to open near 3,333. The Nasdaq Composite index sank 2.2%, 247 points, and was trading near 10,804. There were additional signs of slowing economic progress Thursday: the pace of new residential construction ebbed in August, and a mid-Atlantic manufacturing gauge grew at a slower pace in September. Shares of Rigel Pharmaceuticals, Inc. surged in early trading after it announced it was starting a Phase 2 clinical trial evaluating its drug Tavalisse as a treatment for hospitalized COVID-19 patients.

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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