Friday, 16 October 2020

Pfizer vaccine hopes lift world stocks; dollar, gold on the defensive

Pfizer vaccine hopes lift world stocks; dollar, gold on the defensive

Global shares bounced on Friday while safe havens such as the dollar were on the defensive as investors welcomed news that drugmaker Pfizer Inc could have a coronavirus vaccine ready in the United States by the end of this year.

Dow advances, S&P ekes out gain as vaccine timeline comes into focus

The S&P 500 posted a nominal gain on Friday as further clarity regarding the timeline for the development of a coronavirus vaccine and much better-than-expected retail sales data brought buyers back to the market.

Oil dips on COVID-19 resurgence, fears of more supply

Oil prices edged lower on Friday, dragged down by concerns that a spike in COVID-19 cases in the United States and Europe will continue to drag on demand in two of the world's biggest fuel-consuming regions.

Twitter appears to backtrack on blocking New York Post article

Twitter Inc on Friday appeared to backtrack on its decision to block links to a New York Post article about Democratic presidential candidate Joe Biden's son, despite reaffirming the ban late on Thursday.

Driverless race steps up with Cruise allowed to drive empty in San Francisco

The race for driverless autonomous vehicles is heating up and on Thursday Cruise became the first to receive a permit to test cars without anyone in them on the streets of San Francisco from California's Department of Motor Vehicles.

Coronavirus spending pushes U.S. 2020 fiscal year deficit to record $3.132 trillion

The U.S. budget deficit hit a record $3.132 trillion during fiscal 2020, more than triple the 2019 shortfall due to massive coronavirus rescue spending, the U.S. Treasury said on Friday.

China's turbo-charged online fashion takes on Zara and H&M

China's Shein may be the biggest shopping site you've never heard of.

U.S. retail sales blow expectations in September; dark clouds gathering

U.S. retail sales accelerated in September, rounding out a strong quarter of economic activity, but the recovery from the COVID-19 recession is at a crossroads as government money runs out and companies continue to layoff workers.

Wall Street Week Ahead: Big tech nervousness prompts calls to diversify

As a technology-driven rally brings U.S. stock indexes within striking distance of fresh records, concerns that big names are over-extended and that new regulation might be coming have some investors diversifying beyond the rally leaders.

FCC asks Justice Department to weigh in on China Unicom U.S. operations

The Federal Communications Commission (FCC) asked the Justice Department and other U.S. agencies to detail if China Unicom's continued U.S operations pose national security risks, according to a letter released Friday.

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