Connect with us

Top News

Signal for stock futures muted rebound after selling technology



Signal for stock futures muted rebound after selling technology

US stock futures rallied Friday, signaling that a portion of the market could regain losses after a spike in volatility in tech stocks caused the S&P 500 to plunge the worst in nearly three months.

Futures, pegged to the S&P 500, were up 0.3%, a sign that the broad market scale may rebound slightly at the open. The benchmark index fell 3.5% on Thursday, the biggest drop since June 11. This leaves the S&P 500 on track for its first weekly decline in six weeks.

Nasdaq Composite futures fell 0.5%, suggesting further pressure on the tech index after falling 5% on Thursday. The one-point decline in one day was the largest in nearly six months, and was driven by a decline in activity by many companies, which has pushed US stocks higher in recent months.

A record $ 180 billion has been erased from

an Apple Inc.

AAPL -8.01%

market valuation on Thursday after the stock fell 8%. This is the maximum that any American company has lost in one day. Despite the debacle, Apple shares are up 65% this year.

According to Sami Chaar, chief economist at Lombard Odier, investors are assessing an incomplete economic recovery and are revising estimates that have been decoupled from corporate fundamentals.

“There has been a lot of trade in new technologies in the past few weeks that weren’t based on a lot of materials,” said Mr. Chaar. “We have seen the worst of [economic] shock. But I would add to that that we’ve seen the best of recovery. “

See also  Tropical Storm Isaias on track to effect the Carolinas late Monday

The Cboe Volatility Index, an indicator of expected fluctuations in the S&P 500 Index, fell 1.2 points. On Thursday, the so-called Vix jumped seven points in its biggest one-day gain since June.

Attention is likely to focus on the monthly US labor market report, due out at 8:30 am ET, to provide evidence of the pace of economic recovery. Hiring likely fell in August from a faster pace earlier this summer, a sign that the economy is gearing up for a slow recovery from the shock of the coronavirus pandemic.

Economists expect employers to add about 1.3 million jobs in August, a significant monthly increase in wages, but the lowest in four months. The reopening of the state in the state helped boost employment by 7.5 million jobs in May and June before hiring growth slowed in July.

“This is still a partial and incomplete recovery,” said Agnes Belais, chief European strategist at the Barings Investment Institute. She monitors the rise in the so-called participation rate, which would indicate that Americans who have stopped looking for work are returning to the labor market.

The 10-year Treasury yield rose to 0.654% from 0.621% on Thursday ahead of the release of the employment report. The yield rises as bond prices fall. The WSJ Dollar Index, which tracks the US currency against a basket of other currencies, remained stable.

Brent crude oil prices rose 0.7% to $ 44.38 per barrel. This still means that the global oil benchmark will lose 3.5% this week. This will be his biggest weekly decline since mid-June. Fast restoration of fuel consumption The US is dwindling, creating new challenges for the oil market, economy and energy.

US stock futures pointed to a quieter session on Friday.


Wang Ying / Zuma Press

International markets were mixed. The Stoxx Europe 600 Index rose 0.6%, driven primarily by banking and leisure stocks.

In Asia, Japan’s Nikkei 225 fell 1.1%, South Korea’s Kospi Composite shed 1.2%, and China’s Shanghai Composite fell 0.9%. Australia’s S & P / ASX 200 fell nearly 3.1%, its worst session since early May.

Eli Lee, head of investment strategy at Bank of Singapore, said the stock cut is similar to the previous cut in June. He sees no opportunity for deep correction.

“In the long term, low interest rates and a gradual recovery in the global economy will contribute to asset risks,” said Mr. Li.

Write to Joe Wallace, [email protected]

© 2020 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Top News

The abolition of fees for teaching Portuguese abroad will not be accepted by parliament, MP says – Observer



The abolition of fees for teaching Portuguese abroad will not be accepted by parliament, MP says - Observer

According to Socialist MP Paulo Pisco, the views of the BE, PCP and PAN on the abolition of fees for teaching Portuguese abroad were voted on Tuesday in a parliamentary committee.

The Committee on Foreign Affairs and Portuguese Communities voted on Tuesday in favor of four projects – from the Left Bloc, the Communist Party of Portugal, “People-Animal-Nature” and “Enough”, which mainly advocate the abolition of fees for teaching Portuguese abroad and free school textbooks.

According to Paulo Pisco, a socialist member of the commission, the opinions of the BE, PKP and PAN were approved, but Chega’s opinion deserved to be abstained from the PS because it contained “xenophobic elements” in its purpose.

The MP had in mind, in particular, the recipients of this teaching, which is currently intended not only for the Portuguese or the descendants of the Portuguese, but also for those who want to learn the Portuguese language, with which Chega allegedly disagrees, according to Paulo Pisco. .


After the approval of these opinions, the abolition of the bribe would be discussed and voted on in the plenary session of the Assembly of the Republic, but Paulo Pisco said that they should not be approved, since the “commitment” of the government is different.

“The government’s obligation is to reduce the burden of the Portuguese” and this will always be determined “in every approved state budget”.

Continue Reading

Top News

Portuguese health minister rejects conflict of interest over marriage to president



The health minister said there was no conflict of interest in her marriage to the current chairman of the Order of Dietitians, saying that the trusteeship of that body had been delegated to the Secretary of State for Health Promotion.

Portugal Digital with Lusa

“Honestly, I don’t think it exists. I have no doubt that this Lady Secretary of State will fill this leadership role,” Manuel Pizarro said on Monday (age 26) on the sidelines of the Pharmacist’s Day celebrations in Sintra, in the Lisbon area.

Aware of the possible conflict of interest, Manuel Pizarro explained that he took “the most appropriate measure (…)”, which was to entrust the functions of guardianship of the Order of Nutritionists to Margarida Tavares.”

“(…) Since I took office as a minister, I have been aware that, since professional organizations have an administrative oversight role, (…) there is a risk of conflict of interest, and I have taken the measures that seem to me the most appropriate, which from the very decided at the outset that he would delegate this oversight function over the Order of Nutritionists to the Secretary of State for Health Promotion,” he stressed.

When asked about the reasons why Margarida Tavares’ name still does not appear in the Diário da República, the official said that “it was necessary to wait for the inauguration of the secretaries of state” and then “to organize the whole process of delegation of authority.” .

“It’s even a good chance that there is a Secretary of State for Health Promotion. I think custody of the Order of Dietitians has been well handed over to the Secretary of State for Health Promotion,” he repeated, noting that “he definitely won’t go through the Minister’s order.” [da Saúde]”.

See also  Rory McIlroy, Brooks Koepka agreed on one thing: Ryder Cup needs fans

“If the secretary of state is responsible for this, it should not go through the minister,” he stressed.

Manuel Pizarro’s statements came after news that the government official may have a conflict of interest because he is married to the chairman of the Order of Dietitians, Alexandra Bento.

The Order of Dietitians was created in 2011 with the approval of the current Minister of Health, who at the time served as Secretary of State for Health.

In addition, Alexandra Bento was the only President of the Order of Occupational Health to attend the inauguration of Manuel Pizarro on 10 September.

Continue Reading

Top News

Portuguese newspaper criticizes CR7: “Less Ronaldo, more Portugal” | international football



Portuguese newspaper criticizes CR7: "Less Ronaldo, more Portugal" |  international football

The cover of one of the most important sports newspapers in Portugal this Monday drew a critical tone against the greatest player in the history of the country.

+ See League of Nations table

On the eve of the day when the Portuguese national team will play with Spain and draw for reaching the semi-finals of the League of Nations, the daily newspaper “A Bola” printed a photo Cristiano Ronaldo stating that the player had lost influence in the team commanded by Fernando Santos.

“Less Ronaldo, more Portugal,” reads the headline.

The publication reports that the 37-year-old striker could start on the bench and lists some of the positives of his possible absence, such as the buffing of protagonist Bruno Fernandes. See below:

This Tuesday’s cover of A Bola is being printed by Cristiano Ronaldo – Photo: Reproduction

+ After shock and bleeding, Cristiano Ronaldo trains with a black eye in Portugal

Cristiano Ronaldo started and assisted in a 4–0 thrashing of the Czech Republic on the last round. He has only scored twice in his last eight caps, both against Switzerland.

Czech Republic 0 x 4 Portugal highlights in UEFA Nations League 2022

For Manchester United in the 2022/23 season, he started in three of the eight games played. In the last of them, against Sheriff from Moldova, in the Europa League, he scored for the first time.

Continue Reading