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The market tumbles — is this the crash Suze Orman warned about? The U.S. stock market took a gut-wrenching dive on Monday, but the big worry for investors is what still lies ahead. All three major indexes took a tumble over fears that the delta variant of COVID-19 could threaten the global recovery. The Dow Jones Industrial Average suffered its biggest drop of the year, falling 2.1%, while the S&P 500 fell 1.6% and the Nasdaq 1.1%. Some analysts are already worried this could be the beginning… Source link

Stock market futures rose in Monday’s after-hours session, indicating Wall Street would open higher on Tuesday, after rising COVID-19 infections reasserted themselves and ricocheted across markets. During Monday’s session, major benchmarks suffered their worst declines of 2021, overwhelming quarterly earnings that have almost uniformly reflected a strong rebound. The rising case count driven by the Delta variant — a more communicable form of COVID-19 — pushed the Nasdaq and S&P 500 to… Source link

(Bloomberg) — Someday, the post-pandemic equities rally is going to end. When it does it will take a lot of newly christened stock bulls with it. Their refusal to bend has been the signature fact of the stock market for at least 12 months, putting a floor under four other selloffs in 2021 alone that look just like the one that has sheared almost 3% off the S&P 500 Index since Thursday. Whether the devotion of retail investors is enough to turn the tide again is the biggest question in… Source link

The Big 12 as a whole is inheriting an abundance of talent throughout the conference via the transfer portal. With the rule of having to sit out after transferring now abolished, along with the extra year of eligibility due to COVID-19, teams throughout the nation are seeking transfers that can come in and make an immediate impact for their program. Texas, under a new coaching staff, is one of those schools that has relied heavily on the portal to address team needs. The Longhorns have taken… Source link

WASHINGTON, July 19 (Reuters) – The United States and Germany are expected to announce a deal resolving their longstanding dispute over Russia’s $11 billion Nord Stream 2 natural gas pipeline in coming days, sources familiar with the matter said on Monday. U.S. President Joe Biden and German Chancellor Angela Merkel failed to settle their differences over the undersea pipeline when they met last week, but agreed Moscow must not be allowed to use energy as a weapon against its neighbors. A deal… Source link

Delays for the regulatory filings of its Covid-19 vaccine NVX-CoV2373 (NUVAXOVID) have meant Novavax (NVAX) has been unable to get its offering out to the public yet. You would think that with other leading players firmly planted in the public and health policy makers’ consciousness, maybe the opportunity has already passed for last year’s outstanding performer. However, in late-stage studies, the vaccine’s data has shown to be just as good as those of the leading approved vaccines…. Source link

By Stephen Nellis (Reuters) -Semiconductor manufacturer GlobalFoundries said on Monday it will build a second factory near its in Malta, New York, headquarters, and spend $1 billion to boost output to address the global chip shortage. GlobalFoundries, owned by the United Arab Emirates’ sovereign wealth fund Mubadala Investment Co, makes radio-frequency communications chips for 5G, chips for high-reliability manufacturing for automotive customers, and other specialized semiconductors. The new… Source link

Clover Health (CLOV) CEO Vivek Garipalli has had a tumultuous year following the company’s merger with Chamath Palihapitiya’s SPAC. Though now a meme stock, it’s battling lawsuits spurred by a report from short-seller firm Hindenburg Research alleging the company withheld information about legal issues from investors. It isn’t the health care executive’s first run-in with criticism about his business practices. Three New Jersey hospitals he owned and operated, with two partners, made… Source link

By Evan Sully (Reuters) -U.S. homebuilder confidence in the market for single family homes fell in July to its lowest level since August 2020, driven by shortages in both supply and labor. The NAHB/Wells Fargo Housing Market index declined to a reading of 80 this month from 81 in June. Economists polled by Reuters had expected the index to advance marginally to a reading of at 82. A reading above 50 means more builders view market conditions as favorable than poor. The index hit an all-time… Source link

(Bloomberg) — Zoom Video Communications Inc., whose online conferencing services took off during the Covid-19 pandemic, agreed to acquire Five9 Inc. for $14.7 billion, using its surging stock to expand into an adjacent market that could bolster revenue as lockdowns end. The value of the all-stock offer is $200.18 a share based on the closing price for Zoom’s common stock on Friday, compared with Five9’s $177.60 price on Friday, the companies said a statement Sunday. The target firm will… Source link