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Nasdaq rises as tech shares gain; S&P 500 falls after touching record

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A trader walks in front of the New York Stock Exchange (NYSE) on May 26, 2020 at Wall Street in New York City. - Wall Street stocks surged early May 26, 2020 on optimism about coronavirus vaccines as the New York Stock Exchange resumed physical floor trading for the first time since late March. About five minutes into trading, the Dow Jones Industrial Average was up 2.3 percent at 25,023.76. The broad-based S&P 500 gained 2.0 percent to 3,013.04, while the tech-rich Nasdaq Composite Index advanced 1.6 percent to 9,468.96.The gains came after a ceremony presided over by New York Governor Andrew Cuomo, who wore a mask as he rung the opening bell to signal the start of the day for traders, also clad in masks and separated by plexiglas. (Photo by Johannes EISELE / AFP) (Photo by JOHANNES EISELE/AFP via Getty Images)

The S&P 500 and Dow dipped Thursday, after a rally Wednesday briefly sent the S&P 500 to record levels. The Nasdaq gained as tech shares renewed their run of outperformance.

Investors also digested a jobless claims report that came in much better than expected, with new weekly unemployment insurance claims falling below 1 million for the first time during the pandemic period. New jobless claims totaled 963,000 for the week ended Aug. 8, ending what had been a 20-week streak that initial claims topped 1 million.

During the regular session on Wednesday, the S&P 500 briefly topped its record closing level of 3,386.15 from Feb. 19 before ending just slightly below that level. On Thursday, the consumer discretionary, and tech-heavy communication services and information technology sectors rose in the blue-chip index, but were outweighed by declines in utilities, financials and energy stocks.

After market close Wednesday, Lyft (LYFT) reported a narrower than expected second-quarter loss, and its 61% decline in second-quarter revenue was a shallower drop than feared, as the pandemic wiped out demand for ride-hailing. The company said ridership was up 78% in July compared with April’s lows, and the company maintained its outlook to hit adjusted EBITDA profitability by the end of next year.

Investors also continued to hold onto hopes that lawmakers would eventually reconcile their disparate demands and pass another coronavirus relief package.

However, prospects of a near-term deal appeared slim as of Wednesday as policymakers continued to verbally spar rather than return to the negotiating table. Treasury Secretary Steven Mnuchin suggested in an interview with Fox Business that the White House would not budge on its stance of moving ahead with Senate Republicans’ $1 trillion proposal, despite Democratic lawmakers’ calls for at least twice as much in aid. Senate Democratic Leader Chuck Schumer and House Speaker Nancy Pelosi said in a joint statement in response to Mnuchin’s remarks that they had “made clear” that they were “willing to come down $1 trillion if they will come up $1 trillion.”

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9:35 a.m. ET: Stocks open mixed, Nasdaq outperforms

Here were the main moves in markets, as of 9:35 a.m. ET:

  • S&P 500 (^GSPC): -7.68 points (-0.23%) to 3,372.67

  • Dow (^DJI): -84.49 points (-0.3%) to 27,892.35

  • Nasdaq (^IXIC): +32.44 points (+0.29%) to 11,044.21

  • Crude (CL=F): -$0.14 (-0.33%) to $42.53 a barrel

  • Gold (GC=F): -$2.20 (-0.11%) to $1,946.80 per ounce

  • 10-year Treasury (^TNX): +0.1 bps to yield 0.687%

8:30 a.m. ET: New weekly jobless claims dip below 1 million for the first time since March

Weekly unemployment insurance claims fell below the 1 million mark for the first time since the start of the pandemic, in a sign of a better than feared improvement in the labor market as of late.

New jobless claims were at 963,000 for the week ended Aug. 8, or better than the 1.1 million expected. Thursday’s report ended what had been a previous 20-week streak that new claims totaled more than 1 million, with tens of millions of Americans put out of work during the coronavirus pandemic and forced business closures that ensued. 

Continuing claims, which are reported on a one-week lag, also fell to a pandemic-era low of 15.486 million, dipping below 16 million for the first time during the pandemic period. This metric, which captures the number of individuals still receiving unemployment insurance benefits, has improved in seven of the last eight weeks’ worth of reports.

7:18 a.m. ET Thursday: Stock futures struggle for direction

Here were the main moves in markets, as of 7:18 a.m. ET:

  • S&P 500 futures (ES=F): 3,367.5, down 2.5 points, or 0.07%

  • Dow futures (YM=F): 27,857.00, down 9 points, or 0.03%

  • Nasdaq futures (NQ=F): 11,130.00, up 4 points, or 0.04%

  • Crude (CL=F): -$0.03 (-0.07%) to $42.64 a barrel

  • Gold (GC=F): -$0.40 (-0.02%) to $1,948.60 per ounce

  • 10-year Treasury (^TNX): -1.1 bps to yield 0.675%

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6:03 p.m. ET Wednesday: Stock futures hug the flat line

Here were the main moves in equity markets, as of 6:03 p.m. ET:

  • S&P 500 futures (ES=F): 3,369.5, down 0.5 points, or 0.01%

  • Dow futures (YM=F): 27,868.00, up 2 points, or 0.01%

  • Nasdaq futures (NQ=F): 11,123.5, down 2.5 points, or 0.02%

A trader walks in front of the New York Stock Exchange (NYSE) on May 26, 2020 at Wall Street in New York City. (Photo by Johannes EISELE / AFP) (Photo by JOHANNES EISELE/AFP via Getty Images)

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Economy

Everything has been delivered. 10 Bugatti Centodieci are already in the hands of the owners

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Everything has been delivered.  10 Bugatti Centodieci are already in the hands of the owners

OAll Bugatti Centodieci have been delivered, the Molsheim-based brand said on Monday. Cristiano Ronaldo received the number 07 in October this year. and Bugatti has now revealed that the latest unit – #10 – is already in the possession of its owner.

“The Centodieci combines all the values ​​of the Bugatti brand in an extraordinary package: rarity, innovation, heritage, craftsmanship and unrivaled performance. The production batch of 10 units was so in demand by our customers that it was sold before the Centodieci. was even officially presented,” said Christophe Piochon, president of Bugatti.

This latest example is finished in Quartz White with carbon fiber trim on the bottom and matte grilles. The brake calipers are painted in Light Blue Sport, as is the logo on the rear that refers to the EB110, the iconic Bugatti model that inspired this Centodieci. Inside, the predominant color is also blue, as you can see in the images above.

This block is powered by the same block as the other nine instances. The 8.0-liter W16 with four turbines is capable of developing 1600 hp. In terms of performance, this allows the Centodieci to hit 100 km/h in just 2.4 seconds and reach a top speed of 380 km/h.

Recall that each unit costs the owners eight million euros before taxes.

Read also: We already know when the Bugatti Centodieci fell into the hands of Ronaldo.

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Economy

The first Dacia hybrid. “The cheapest hybrid family on the market”

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The first Dacia hybrid.  "The cheapest hybrid family on the market"

BUT Dacia revealed this Monday that the hybrid engine has been available since March on the Jogger, the Romanian brand’s model known to be available with a seven-seat variant.

The Jogger Hybrid 140, Dacia’s first hybrid, will hit dealerships in March, but customers can expect and order it as early as January.

The price has been revealed by Dacia and since it’s only available in the seven-seater SL Extreme, it starts at €28,800. The brand claims it is “the most affordable hybrid family car on the market.”

Available in six existing colors to celebrate the launch of this hybrid, there will be a slate gray version, as you can see in the images above.

Equipped with a 1.6 liter four-cylinder petrol engine with 90 hp, the Jogger is also powered by two electric motors (a 50 hp engine and a high-voltage starter-generator). The total power is 140 horsepower. The electric transmission is automatic, four-speed, connected to an internal combustion engine, and two speeds are connected to an electric motor. This combined technology was possible, according to Dacia, only due to the lack of clutch.

Combined with the energy recovery levels of the 1.2kWh (230V) battery pack and the efficiency of the automatic transmission, regenerative braking delivers all-electric traction on 80% of urban journeys and saves up to 40% of fuel compared to a combustion engine vehicle.

Read also: Dual-fuel Dacia Jogger Eco-G. We tried 5 seater and LPG…

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Economy

See how Tesla tests its electric Semi truck in the worst-case scenarios

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Tesla Semi camião elétrico testes

Tesla has finally been able to bring its long-awaited Semi to market. This electric truck promises to revolutionize transportation and bring all the unique characteristics of this type of electric vehicle to this class of vehicles.

Now that the first units have been delivered, there is hope that they will finally be mass-produced and reach more transport companies. With so many promises to be kept, a new video is now emerging showing Tesla testing its Semi truck under worst-case scenarios.


Tesla Semi is already on the market

Like all Tesla electric vehicles, Semi follows the same line of creating a unique design associated with a platform with the most modern technology available. The proof is in what was presented to the public and surprised most people.

To prove the quality of this new proposal, Tesla published in your LinkedIn account new video. In it, he reveals some of the testing he's done to determine the strength and quality of the Semi's design and its (potential) durability.

Tests to prove its durability

It has been revealed that the Tesla electric truck is subjected to numerous tests and its application in the worst scenarios that drivers may face. It doesn't stop at the ruggedness of the Semi's designs, but goes further and focuses on the motors and batteries themselves.

This is the proof that many have been waiting for to ensure that this new proposal is not limited to a lot of autonomy. Its resistance is great and will provide greater durability, further enhancing the Semi's value and performance.

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high quality electric truck

Tesla has already showcased the Semi's quality with a video showing its truck driving roughly 500 miles on just one charge. The big news here is that he managed to make this long journey with a maximum load of about 37 tons.

Now Tesla remains to widely place the Semi on the market. At the moment, only a few companies have access to this new product, with a very long list of pending deliveries, who want to start mass-using this electric truck offering.

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