Model Scenarios Imply New S&P 500 Peak After Consolidation
Fair-Value Model Implies S&P 500 Climb Continues Additional Intelligence on this Topic: S&P 500 2020 Midyear Outlook Gina Martin Adams Team: Strategy BI Chief Equity Strategist Michael Casper Team: Strategy BI Associate Analyst Model Scenarios Imply New S&P 500 Peak After Consolidation (Bloomberg Intelligence) — Policy accommodation and slow economic recovery could result in the […]
U.S. retail sales pop more-than-expected in June
U.S. retail sales increased a better-than-expected 7.5% in June.
Homebuilder sentiment jumps back to pre-coronavirus pandemic high
Homebuilder sentiment jumped 14 points to 72 in July, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).
These Are the Drugs and Vaccines That Might End the Coronavirus Pandemic
The global push to develop coronavirus vaccines is accelerating, with companies in China, Europe and the U.S. reporting positive developments in trials of their shots. A Moderna Inc. vaccine candidate produced antibodies in all participants in a study, and early tests of experimental shots from Pfizer Inc. and BioNtech SE, as well as a partnership of […]
U.S. Industrial Output Surges by Most Since 1959 on Reopening
By Olivia Rockeman (Bloomberg) — U.S. industrial production in June posted the largest monthly gain since 1959, indicating manufacturing is stirring to life after coronavirus-related shutdowns. Total output at factories, mines and utilities increased 5.4% from the prior month after climbing 1.4% in May, Federal Reserve data showed Wednesday. The median projection in a Bloomberg survey of economists […]
Coronavirus vaccine is closer than the market thinks, Wharton’s Jeremy Siegel predicts
Wharton finance professor Jeremy Siegel expects a game changer. He predicts a coronavirus vaccine is closer than the market thinks. “We’ve had almost no setbacks in the schedule developing the vaccine, and I think that’s where upside surprises can occur,” Siegel told CNBC’s “Trading Nation” on Tuesday. “We may find ourselves with a workable vaccine […]
Moderna shares jump as much as 16% after company says its coronavirus vaccine trial produced ‘robust’ immune response
Moderna’s shares soared after the company said its potential vaccine to prevent Covid-19 produced a “robust” immune response in all 45 patients in its early stage human trial, according to newly released data published Tuesday evening in the peer-reviewed New England Journal of Medicine.
TSMC Sales Shine After Virus Drives Demand for Datacenter Chips
By Debby Wu The Apple chipmaker’s revenue comes in just above estimates World’s top contract chipmaker is ramping up production now (Bloomberg) — Taiwan Semiconductor Manufacturing Co. posted monthly revenue that suggested June-quarter sales surpassed analysts’ estimates, underscoring how its technological lead is helping the chipmaker weather the pandemic and U.S. curbs on No. 2 customer Huawei Technologies […]
Gilead says remdesivir coronavirus treatment reduces risk of death in severely sick patients
Gilead Sciences announced new findings Friday that its antiviral drug remdesivir reduced the risk of death for severely sick coronavirus patients by 62% compared with standard care alone, saying more research is needed. The company said its analysis also found that remdesivir treatment was associated with “significantly improved clinical recovery.” The findings are being presented at […]
Global PC Sales Climb on Rebounding Supply Chains, Rising Demand
By Nico Grant (Bloomberg) — Global personal computer shipments climbed in the second quarter, when vendors patched supply-chain issues and consumer demand for laptops surged with more people forced to work from home. PC makers shipped 2.8% more devices in the three-month period compared with a year earlier, for a total of 64.8 million units, according […]