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By Nate Raymond and Tom Hals (Reuters) -At least six U.S. states, including Georgia, did not fully sign on to a proposed $26 billion settlement with three drug distributors and Johnson & Johnson, which have been accused of fueling the nation’s opioid epidemic, according to the states’ attorneys general. States had until Saturday to decide whether to support the $21 billion proposed settlement… Source link

Stock futures opened higher Monday evening, building on advances following a record-setting day.  Contracts on the S&P 500 edged up. The blue-chip index set a record intraday high earlier on Monday, but ended just short of a record close. The Nasdaq outperformed and rallied 1.6% to new highs, led by gains in Big Tech stocks including Amazon (AMZN). “Reopening” stocks including the airlines and cruise lines also added to gains after rising during the regular trading day, with optimism over a… Source link

When Pfizer and BioNTech’s (PFE) COVID-19 vaccine on Monday became the first to receive full Food and Drug Administration approval for people 16 and older, several vaccine mandates came down just that day.  The uptick shows that legal experts and the nation’s top infectious disease expert were on target by predicting that approval would embolden businesses, governments, and schools to mandate vaccines. Just Monday, vaccine mandates came down for staff in New York City and New Jersey schools… Source link

Investors may be wise to tread lightly in the stock market as the Federal Reserve nears the start of its bond tapering program, hints DoubleLine Capital founder and CEO Jeffrey Gundlach.  “It certainly would be a negative for the stock market,” Gundlach — aka the “bond king” — told Yahoo Finance Live in an exclusive interview on the potential impact to markets from Fed tapering. The Federal Reserve is widely expected to signal the beginning of halting its pandemic-era bond-buying program… Source link

COVID-19 Delta fears has unleashed the short sellers on the economically sensitive consumer discretionary sector.  Short sellers held 4.57% of outstanding shares in the S&P 500 consumer discretionary sector at the end of July, according to new data from S&P Global Market Intelligence. Taking a short position in a stock is one’s way of betting on a decline in price.  The percentage of short sellers in the consumer discretionary space has trended higher since April as stimulus check spending… Source link

The competition to finance infrastructure projects and expand global influence between the U.S. and China is taking on a new dimension as countries address adverse effects of climate change. The U.S. International Development Finance Corporation (DFC) has repeatedly stressed that the U.S. efforts are markedly different from China’s Belt and Road Initiative (BRI). “The DFC is very affirmatively seeking to provide an alternative to the type of financing that China provides through its Belt and… Source link

New confirmed cases of COVID-19 and resulting hospitalizations are skyrocketing in Florida, and the mayor of Fort Lauderdale would like Governor Ron DeSantis to rethink some of the policies contributing to elevated transmission. “If there’s an ultimate political agenda trying to appeal to some sort of outlier group thinking that’s going to advance a person politically, I just think they’re misjudging what people really want,” Fort Lauderdale Mayor Dean Trantalis said on Yahoo… Source link

So, what’s Big Money? Said simply, that’s when a stock goes up in price alongside chunky volumes. It’s indicative of institutions betting on the shares. Smart money managers are always looking for the next hot stock. And NVIDIA has many fundamental qualities that are attractive. This sets up well for the stock going forward. But how the stock is trading points to more upside. As I’ll show you, the Big Money has been consistent in the shares the last year. You see, fund managers are… Source link

Market trends are generally heading up, and investors are feeling confident. The S&P 500 has gained 20% so far this year, and the NASDAQ has gained 15%; for now, it looks like the confidence is justified. The economy’s reopening is proceeding apace, and both investors and consumers are looking forward to a more normal 2022. In a recent note for RBC, the firm’s head of US equity strategy, Lori Calvasina, acknowledges the optimism – and also points out the potential fly in the ointment…. Source link

Home sales increased for the second straight month in July. Existing home sales rose 2% to a seasonally adjusted 5.99 million units in July, from a month earlier, according to the National Association of Realtors (NAR). June total units sold were also revised to 5.78 million. The results outpaced analyst expectations of a decline of 0.5% and 5.83 million units, according to Bloomberg consensus estimates. “The housing market went through a big swing during the COVID lockdown. Once the economy… Source link