The stock market is on one impressive stretch headed into year-end, which may bode well for future returns. Through late last week, the S&P 500 (^GSPC) had gone 189 days — or nine straight months — without being more than 5% from a 52-week high, according to researchers at Sundial Capital Research. The S&P 500 also had logged its 43rd day with a 52-week closing before November. Sundial says 2021 has been one of the most “consistent” years ever for markets. That recent bout of… Source link
Read More »Pay cut: Google employees who work from home could lose money
NEW YORK, Aug 10 (Reuters) – Google employees based in the same office before the pandemic could see different changes in pay if they switch to working from home permanently, with long commuters hit harder, according to a company pay calculator seen by Reuters. It is an experiment taking place across Silicon Valley, which often sets trends for other large employers. Facebook (FB.O) and Twitter (TWTR.N) also cut pay for remote employees who move to less expensive areas, while smaller companies… Source link
Read More »The most impressive labor market chart around: Morning Brief
This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Tuesday, August 10, 2021 Job openings continue to explode The number of jobs open in America continues to explode. On Monday, the Job Openings and Labor Turnover Survey (JOLTS) for June showed some 10.1 million jobs were open at last check, a record for the series which dates back to 2001. This marks the fourth straight month this series has… Source link
Read More »UPDATE 4-S.Korea’s Krafton, maker of hit game ‘PUBG’, tumbles on debut
* Shares fall as much as 20% below IPO price * Worries about China crackdown on gaming sector * Worst debut for S.Korean listing since 2004 (Updates with milestone, closing price, market capitalisation, KOSPI ranking, adds analyst comment) By Joyce Lee and Scott Murdoch SEOUL/HONG KONG, Aug 10 (Reuters) – Shares in Krafton Inc , the Tencent Holdings-backed South Korean company behind blockbuster video game “PlayerUnknown’s Battlegrounds” (PUBG), fell as much as 20% on their trading debut on… Source link
Read More »Despite US Crypto Tax Plans, Institutional Investors Return to Bitcoin: Blockchain Data
Lawmakers and regulators’ increasing scrutiny of crypto markets, including the debate over the U.S. infrastructure bill’s crypto tax reporting provision, may be spooking retail investors but not institutional ones, recent blockchain data from Glassnode indicates. These larger investors, as represented by large-value dollar transactions, fueled Bitcoin’s nearly 20% price gains since last week, the Berlin-based blockchain data firm found. A number of analysts say the trend shows that… Source link
Read More »Stock futures gain as traders eye virus risks
Contracts on the S&P 500 ticked up. Earlier, both the blue-chip index and the Dow sank, dragged down by energy stocks amid concerns over reinstated travel restrictions in China due to rising coronavirus infections. U.S. West Texas intermediate crude oil futures fell on Monday to add to last week’s losses, bringing prices to the lowest level in three weeks. Shares of AMC Entertainment (AMC) gained in late trading after the movie theater operator topped second-quarter revenue estimates, with… Source link
Read More »Google’s new Titan security key lineup won’t make you choose between USB-C and NFC
Google announced updates to its Titan security key lineup on Monday, simplifying it by removing a product and bringing NFC to all its keys. The company will now offer two options: one has a USB-A connector, one has USB-C, and both have NFC for connecting to “most mobile devices.” The USB-A key will cost $30, and the USB-C key will cost $35 when they go on sale on August 10th. One of the biggest changes in Google’s new lineup is an updated USB-C key, which has added NFC support.
Read More »COVID SCIENCE-Moderna may be superior to Pfizer against Delta; breakthrough odds rise with time
Aug 9 (Reuters) – The following is a roundup of some of the latest scientific studies on the novel coronavirus and efforts to find treatments and vaccines for COVID-19. Moderna’s vaccine may be best against Delta The mRNA vaccine from Pfizer and BioNTech may be less effective than Moderna’s against the Delta variant of the coronavirus, according to two reports posted on medRxiv on Sunday ahead of peer review. In a study of more than 50,000 patients in the Mayo Clinic Health System… Source link
Read More »AMC beats quarterly estimates; here”s how the stock is doing
AMC Entertainment (AMC) shares are up in after-hours after the movie theater company beat on the top and bottom line for its second quarter. AMC reported a loss per share of 71 cents, compared to Wall Street estimates of a loss of 94 cents per share. Revenue climbed to $444 million for the quarter versus expectations of $382.25 million. The company’s second-quarter performance is a massive increase compared to the same period last year when it brought in revenues of $19 million. The top… Source link
Read More »Delta variant fears are beginning to slow spending in key areas
Increased public focus on the Delta variant has coincided with slowed spending in key sectors, according to a JPMorgan (JPM) Research report by senior economist Jesse Edgerton and economist Peter McCrory. “COVID case counts are still growing rapidly, even in highly-vaccinated states,” the report reads. “Google (GOOG, GOOGL) search data suggest that public focus on the Delta variant has intensified in recent weeks, and Chase card spending in some travel and entertainment categories has… Source link
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