Month: September 2020

What is the Fed? Do you know the real story?
If you’ve ever wondered why just a handful of ultra-connected folks have so much control over our economy, our money and our banks… read on.
I’ll reveal a little-known piece of history that changed the fate of America.
The idea underlines the fact that you can’t build your wealth until you understand it. Until you know how the system works, you’re more likely to become a victim of it than a beneficiary.
This story illustrates that point perfectly.
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It starts in the middle of a cold November night in 1910. A cadre of highly wealthy …read more […]

After calling the March bottom, Fundstrat’s Tom Lee says he has a new level in the S&P 500 to watch. …read more […]

The analysts covering Inovio Pharmaceuticals, Inc. (NASDAQ:INO) delivered a dose of negativity to shareholders today… …read more […]

Top news and what to watch in the markets on Wednesday, September 30, 2020. …read more […]

Owner of the famed Las Vegas casino set to acquire the UK firm after takeover battle. …read more […]

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(Bloomberg) — Gold buying by central banks, an important driver of bullion’s advance in recent years, is forecast to pick up in 2021 after a slowdown this year.Citigroup Inc. sees demand from the official sector rising to about 450 tons after a drop to 375 tons this year, which would be the lowest in a decade. HSBC Securities (USA) Inc. expects a slight up-tick to 400 tons from an estimated 390 tons in 2020, potentially the second-lowest amount in 10 years.While the forecasts are far from the near-record purchases of more than 600 tons a year seen in both 2018 …read more […]

Federal Aviation Administration (FAA) Chief Steve Dickson is due to conduct a two-hour evaluation flight at the controls of a Boeing 737 MAX on Wednesday, a key milestone for the jet to win approval to resume flying after two fatal crashes. Dickson, a former military and commercial pilot, and other FAA and Boeing pilots are due to take off around 9 a.m. PDT (1600 GMT) from King County International Airport – also known as Boeing Field – in the Seattle area and land around 11 a.m. (1800 GMT). For Boeing, the flight is another milestone in the …read more […]

(Bloomberg) — Royal Dutch Shell Plc will cut as many as 9,000 jobs as Covid-19 accelerates a companywide restructuring into low-carbon energy.The move reflects the challenge facing Big Oil as the pandemic persists, with some in the industry believing the era of demand growth is already over. As the crisis hastens the shift to cleaner energy, oil majors are axing jobs, taking multibillion-dollar writedowns and even slashing once-sacrosanct dividends.At Shell, job reductions of 7,000 to 9,000 are expected by the end of 2022, including around 1,500 people taking voluntary redundancy this year, the company said Wednesday. It currently has about …read more […]

The move comes five months after it cut its dividend for the first time since World War Two. …read more […]

Spot gold fell 0.5% to $1,889.66 per ounce by 0357 GMT, after hitting a one-week high of $1,899.12 earlier in the session. Spot gold was on track to post it worst monthly fall since Nov. 2016, dropping 4% so far this month. U.S. gold futures were down 0.4% at $1,895.40. …read more […]

(Bloomberg) — U.S. equity-index futures turned lower as investors gauged whether either protagonist in the first American presidential debate emerged with the upper hand, and as traders recalibrated positions on the final day of this quarter. Crude oil retreated.S&P 500 futures were about 0.5% lower after the sparring between President Donald Trump and Democratic hopeful Joe Biden ended. Futures earlier rose as much as 0.7% during the debate, well within the range of swings that have prevailed recently during one of the U.S. stock market’s more volatile stretches. Treasuries were little changed.“What we’ve seen from the debate is the reinforcement …read more […]

(Bloomberg) — Alibaba Group Holding Ltd. foresees its cloud services arm turning profitable for the first time this year, a milestone for the decade-old business that underscores how Asia’s largest corporation expects a return to pre-pandemic levels as China’s economy rebounds.Alibaba’s shares rose as much as 4% in Hong Kong, their biggest intraday gain in over a month. Its internet computing business is growing roughly 60% at an annual revenue run rate of about $7 billion, Chief Financial Officer Maggie Wu told investors at an annual company conference. The unit should turn profitable in the year ending March, she said.Cainiao, …read more […]

Lonza is confident that U.S. and Swiss plants it is building to help make Moderna’s COVID-19 vaccine candidate will be ready for commercial production this year, executives at the Swiss company said on Tuesday. New production lines at Lonza’s site in Portsmouth, New Hampshire, aim to start making vaccine ingredients in November, while three lines in Visp, deep in a valley in the Swiss Alps – to supply 300 million vaccine doses annually – should begin delivering by December. There is no approved COVID-19 vaccine yet, but several are in advanced trials, including from Pfizer Inc, Johnson & …read more […]

“We hope these data will support an EUA” (emergency use authorization) from the U.S. Food and Drug Administration, Regeneron Chief Scientific Officer George Yancopoulos said on a conference call. The treatment, REGN-COV2, is also being studied for use in hospitalized patients, and for prevention of infection in people who have been exposed to COVID-19. Regeneron declined to comment on when those trial results are expected. …read more […]