Saturday Brief – September 5th 2020
Americas
U.S. stocks closed lower on Friday and the S&P 500 ended a five-week winning streak as a sell-off in heavyweight tech companies continued. Read more https://t.co/3S0cZ6abXX pic.twitter.com/r8yHhMvd3I
— Reuters Business (@ReutersBiz) September 5, 2020
Gravity hits tech stocks after a wild week. Lofty valuations take a knock after breathtaking rallies for Apple, Tesla and others. “No professional allocator is now allocating fresh capital to Tesla,” said Gregory Perdon, CIO at Arbuthnot Latham. https://t.co/qOauzeEkRk pic.twitter.com/ZBrpAbYWAT
— Holger Zschaepitz (@Schuldensuehner) September 5, 2020
Why all the call buying in turbo beta stocks? Here's why pic.twitter.com/bZu2oi0k65
— zerohedge (@zerohedge) September 4, 2020
Options Traders Whipped Up Stock Boom With SoftBank Buying – Bloomberg
*Link: https://t.co/un2Q5ffbt7 pic.twitter.com/0BLC9X2Efv— Christophe Barraud (@C_Barraud) September 5, 2020
Disagreements between the Department of Justice and mostly Democratic attorneys general are holding up the launch of what would be the biggest antitrust battle in a generation https://t.co/G8xVptDb6e
— POLITICO (@politico) September 5, 2020
Nonfarm payrolls increased by 1.37 million in August. https://t.co/zYoOkyvI44 pic.twitter.com/lNqsiINwdV
— CNBC (@CNBC) September 5, 2020
Today's jobs report reduces the odds of a big fiscal package. “Why don’t we pass a more modest package instead of something that goes into multitrillion dollars that we do not need?" — Larry Kudlow https://t.co/yfzIXNIbw9 via @economics @bpolitics @katiadmi @readep @livrockeman
— Steve Matthews (@SteveMatthews12) September 4, 2020
Two consequences of the Employment Report:
1/ Fiscal Policy: Less pressure to find a deal to provide another stimulus
2/ Monetary Policy: Less pressure on the #Fed to change its forward guidance immediately.https://t.co/iARw06fxbB
— Christophe Barraud (@C_Barraud) September 4, 2020
Federal Reserve Chairman Jerome Powell says "today’s jobs report was a good one,” but reiterated his view that the recovery has a long road ahead https://t.co/76NurGs71M
— Bloomberg Australia (@BloombergAU) September 4, 2020
Asia
Japanese Chief Cabinet Secretary Yoshihide Suga says cutting the consumption tax isn’t an option https://t.co/QpWrd7kdHg
— Bloomberg Economics (@economics) September 5, 2020
#Japan's Suga backs Kuroda to keep monetary policy ultra-easy – Nikkeihttps://t.co/aqYKNWESYU
— Christophe Barraud (@C_Barraud) September 5, 2020
China’s growth rate is seen decelerating to 2.9% in 2050 https://t.co/E57lVS0eV9 pic.twitter.com/pga4ZbKlOi
— Bloomberg Economics (@economics) September 5, 2020
Singapore will set aside an extra $733 million to boost the domestic workforce in another move to protect local jobs https://t.co/Yzcg7ozMCD
— Bloomberg Economics (@economics) September 5, 2020
China will require passengers arriving on direct flights from the U.S. to provide negative Covid-19 test results https://t.co/FlXcmf9jgF
— Bloomberg Asia (@BloombergAsia) September 5, 2020
#India and #China agree to ease tension on border, New Delhi says – Reuters https://t.co/WHtZcnWg0K
— Christophe Barraud (@C_Barraud) September 5, 2020
Images suggest North Korea preparing to launch submarine missilehttps://t.co/dHJ7D8clPP
— Nikkei Asian Review (@NAR) September 5, 2020
Europe
#Europe #Covid_19: Daily Summary (September 5th)https://t.co/UwXXobfhGo
— Christophe Barraud (@C_Barraud) September 5, 2020
#Brexit | Brussels Accused Of Derailing Talks By Seeking UK Law Veto – The Timeshttps://t.co/f3UzFKOY28
— Christophe Barraud (@C_Barraud) September 5, 2020
EU chief Brexit negotiator Michel Barnier to the UK: It's not me, it's you.
Concede a bit, or we'll not see each other in the future.https://t.co/yQvB30QsB2
— POLITICOEurope (@POLITICOEurope) September 4, 2020
Britain’s top Brexit negotiator warns next week’s trade talks with the EU may yield only limited progress https://t.co/83osTX5tWq
— Bloomberg Economics (@economics) September 4, 2020
Investors want to know how the ECB is going to tackle the euro’s strength https://t.co/o9yKNq2Pp6
— Bloomberg Economics (@economics) September 5, 2020
The German military’s finding this week that Alexey Navalny was attacked with a novichok nerve agent has triggered calls for the chancellor to withdraw support for the Nord Stream 2 gas pipeline https://t.co/PMswMX2CQW
— Bloomberg Asia (@BloombergAsia) September 5, 2020
Turkey and Greece in explosive battle over the Mediterranean’s gas reserves, and Israel and France got entangled.https://t.co/VaNEn473a3
— avi scharf (@avischarf) September 5, 2020