U.S. core capital goods orders, shipments accelerate in June
New orders for key U.S.-made capital goods increased more than expected in June and shipments accelerated, but the gains were likely insufficient to avert the deepest plunge in business investment and economic activity since the Great Depression in the second quarter because of the Covid-19 pandemic. Orders for non-defense capital goods excluding aircraft, a closely […]
U.S. agrees to pay Pfizer and BioNTech $2 billion for 100 million doses of coronavirus vaccine
The U.S. will pay Pfizer and biotech firm BioNTech $1.95 billion to produce and deliver 100 million doses of their Covid-19 vaccine if it proves safe and effective, the companies announced Wednesday. It was the largest such deal between the government and companies racing to develop a coronavirus vaccine.
Coronavirus vaccine from Oxford and AstraZeneca shows positive response in early trial
A potential coronavirus vaccine developed by Oxford University in the U.K. with pharmaceutical giant AstraZeneca has produced a promising immune response in a large, early-stage human trial, according to newly released data published Monday in the medical journal The Lancet. The researchers are calling their experimental vaccine ChAdOx1 nCoV-19 (AZD1222). It combines genetic material from the coronavirus […]
Microsoft Analyst Says Cloud Business Will Offset Weak Economy
By Ryan Vlastelica (Bloomberg) — Microsoft should report strong fourth-quarter results later this month despite an uncertain economic environment, with its cloud business acting as a tailwind, according to Piper Sandler. There is high demand for cloud computing as more people work remotely, and this tailwind “should help MSFT safely navigate choppy waters,” analyst Brent Bracelin […]
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 […]