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More UK areas move into higher risk COVID tiers, says health minister
  + stars: | 2020-11-26 | by ( Reuters Staff | ) sentiment -0.74   time to read: 1 min
FILE PHOTO: Britain's Health Secretary Matt Hancock speaks during a media briefing at Downing Street, amid the coronavirus disease (COVID-19) outbreak, in London, Britain November 20, 2020. Trevor Adams/Pool via ReutersLONDON (Reuters) - British health minister Matt Hancock said on Thursday more areas in England than before would be in the higher risk tiers with tougher restrictions from Dec. 2 to fight the coronavirus pandemic and reduce its spread. “While all three tiers are less stringent that the national lockdown that we’re all living in now, to keep people safe and to keep the gains that are being made, more areas than before will be in the top two tiers,” Hancock told parliament, adding that the measures will be kept under regular review.
Persons: Matt Hancock, Trevor Adams, ” Hancock Organizations: Britain's, Downing, Reuters LONDON Locations: London, Britain, England
Tech stocks nudge European shares higher, virus woes limit gains
  + stars: | 2020-11-26 | by ( Reuters Staff | ) sentiment -1.00   time to read: +1 min
FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 25, 2020. REUTERS/Staff(Reuters) - European shares inched higher in early trade on Thursday, but gains were limited as an extension of coronavirus restrictions in Germany and grim economic growth forecasts for the United Kingdom dented sentiment. The pan-European STOXX 600 rose 0.1%, with tech and healthcare sectors leading gains. The benchmark index ended a four-day winning streak in the previous session as investors cashed in on gains after a vaccine-fuelled rally. In company news, consumer goods group Unilever rose 1.5% on agreeing to buy U.S.-based vitamin company SmartyPants Vitamins.
Persons: Chancellor Angela Merkel, Rishi Sunak Organizations: REUTERS, Staff, Reuters, United, Germany, Unilever Locations: Frankfurt, Germany, United Kingdom, Europe, United States
Stock Futures Drift Higher in Muted Holiday Trading
  + stars: | 2020-11-26 | by ( Joe Wallace | ) sentiment -0.99   time to read: 1 min
U.S. stock futures drifted higher Thursday, with investors anticipating a quiet day of trading on Thanksgiving. Futures tied to the S&P 500 ticked up 0.1%, a day after the benchmark stocks gauge closed at its second-highest level on record. Futures for the technology-heavy Nasdaq-100 index edged up 0.3%. U.S. stock and government-bond markets...
Organizations: Nasdaq
SINGAPORE — Stocks in Japan were set to trade higher at the open as investors in Asia-Pacific react to minutes released overnight from the U.S. Federal Reserve's November meeting. Futures pointed to a higher open for Japanese stocks, with the Nikkei futures contract in Chicago at 26,325 while its counterpart in Osaka was at 26,360. Meanwhile, shares in Australia dipped in early trade, with the S&P/ASX 200 down 0.16%. Investor reaction to minutes from the Fed's meeting earlier this month will be watched. That summary showed officials at the U.S. central bank discussing ways of providing more accommodation to the economy as the recovery from the coronavirus pandemic continued.
Organizations: Stocks, U.S, U.S . Federal, Nikkei Locations: SINGAPORE, Japan, Asia, Pacific, U.S ., Chicago, Osaka, Australia
Ms. Mulles Melo, 32, had already paid the $2,300 rent for March on her three-bedroom apartment in the University Heights section of the Bronx. Money to provide for her three children — Yandel, then 11, Jeremy, 7, and Valentina, 3 — was tight. Her son Jayden was born on March 23 at NewYork-Presbyterian, when companions were banned from labor and delivery rooms. “It was a sad day in my life,” Ms. Mulles Melo recalled. “I was feeling alone with the kids,” she said, recalling how depressed she felt and the difficulties of keeping the students engaged in virtual classes.
Persons: Mulles Melo, — Yandel, Jeremy, Valentina, Jayden, Ms, “ Nobody, , Organizations: Nutrition Locations: University, NewYork
Key takeaways: More than half of Black voters called the coronavirus pandemic the top priority that elected officials should address, followed by discrimination and racial justice. Black voters also expressed deep concerns about systemic racism, especially as it relates to the criminal justice system and mass incarceration. The poll found that 8 of 10 Black voters supported reducing prison and jail populations, as well as detention of immigrants. About 91 percent of Black women voted for Biden and Harris, most exit polling data show. "The holy grail for us as a community must be getting Black men to vote at the same rate as Black women."
Persons: Henry Fernandez, Fernandez, Joe Biden, Kamala Harris, Donald Trump, Harris, We've, Derrick Johnson, George Floyd, Breonna Taylor, Nick Turner, Glynda Carr, Biden, Trump, Terrance Woodbury, Woodbury, Black, Ben Jealous, Nixon, Melanie Campbell, Campbell, Quentin James, Stefanie Brown James, Tracee Ellis Ross, Nia Long, Quentin James said, Jennifer Epps Organizations: African American Research, Black, Biden, NAACP, Vera Institute of Justice, National Urban League, National Domestic Workers Alliance, Service Employees International Union, Vera Institute, Voters, NBC, Trump, Higher, Associated Press, Republican, HIT, National Coalition, Social Security, Youth, NBC News, The, The Collective Education Fund, Center for Popular Democracy, Facebook, Twitter Locations: United States, Georgia, Wisconsin, Southern, Covid, Addison, American
Asia-Pacific stocks trade higher after Dow surges to a new record
  + stars: | 2020-11-25 | by ( Eustance Huang | ) sentiment -0.62   time to read: 1 min
SINGAPORE — Stocks in Asia-Pacific rose in Wednesday morning trade following a record session on Wall Street as coronavirus vaccine hopes and reduced uncertainty in U.S. politics buoy investor sentiment. In Japan, the Nikkei 225 jumped 1.4% while the Topix index gained 1%. MSCI's broadest index of Asia-Pacific shares outside Japan traded 0.38% higher. Investors will monitor Hong Kong-listed shares of Chinese smartphone maker Xiaomi after the firm posted a roughly 19% year-over-year surge in its adjusted net profit for the three months ended Sept. 30. "Our global smartphone shipments rose to the 3rd position in the third quarter of 2020, with an all-time high market share of 13.5%, according to Canalys," Xiaomi said in a statement.
Persons: Canalys, Xiaomi Organizations: Nikkei, Japan Locations: SINGAPORE, Stocks, Asia, Japan, Australia, Pacific, Hong Kong
LONDON — European stocks are expected to open higher Wednesday as growing political certainty in the U.S. and positive coronavirus vaccine news boosts global sentiment. London's FTSE is seen opening 46 points higher at 6,467, Germany's DAX is seen 42 points higher at 13,332, France's CAC 40 up 28 points at 5,585 and Italy's FTSE MIB 61 points higher at 22,172, according to IG. Positive coronavirus vaccine news and emerging political certainty in the U.S. have prompted global stock markets to rally. Dow Jones Industrial Average futures traded higher by 132 points, or 0.4%. Subscribe to CNBC PRO to access live PRO Talks, including our Dec. 2 discussion on opportunities and risks in international markets.
Persons: Germany's DAX, Dow, Donald Trump, Joe Biden's, Joe Biden, Fred Imbert, Kevin Breuninger Organizations: FTSE, CAC, ., Dow Jones Industrial, Nasdaq, Dow, AstraZeneca, Pfizer, Moderna, Maersk Group, CNBC PRO Locations: U.S, Asia, Pacific, America
Credit Suisse expects U.S. equities to continue grinding higher into 2021
  + stars: | 2020-11-25 | by ( ) + 0.88   time to read: 1 min
Credit Suisse expects U.S. equities to continue grinding higher into 2021Expectations surrounding the availability of a potential coronavirus vaccine, new fiscal stimulus and a new U.S. administration are all "positive" factors for U.S. equities in 2021, says Ray Farris of Credit Suisse.
Persons: Ray Farris Organizations: Suisse, Credit Suisse Locations: U.S
Spencer Platt/Getty ImagesUS stock futures point to a modestly higher start to trade later, after the Dow Jones crossed 30,000 for the first time on Tuesday, lifted by optimism over a vaccine and Biden's picks for his administration. "Eventually, there will be a price to pay - but worry about that another day," Stephen Innes, chief market strategist at broker Axi, said. US stock futures pointed to a potentially record-breaking start to trade on Wall Street later on Wednesday, buoyed by optimism that a solution for COVID-19 will deliver the global economy from deeper harm. "Yellen and US Fed Chair Jerome Powell are the new normal economic power brokers," Stephen Innes, chief market strategist at broker Axi, said. The Brent crude futures market suggests traders are at their most bullish over the demand outlook in 2021 in months.
Persons: Spencer Platt, Dow Jones, DAX, incentivized, Stephen Innes, Axi, Donald Trump, Joe Biden's, Biden, Janet Yellen, Jerome Powell, Read, Mitch McConnell, Ian Shepherdson, Yellen, Powell, Shepherdson, Seoul's KOSPI, Brent Organizations: New York Stock Exchange, Getty, Wall, Federal Reserve, Nasdaq, Treasury, of Economic Advisors, Macroeconomics, Fed, CAC, Brent Locations: dovishness, Shanghai
Chain CEOs say that higher minimum wages — across the US or on a state level — could mean higher menu prices. Kura Sushi, The Cheesecake Factory, and Texas Roadhouse have all raised menu prices in response to local minimum wage legislation. Restaurant CEOs are admitting their businesses can handle a higher minimum wage. Higher federal minimum wage would "certainly" impact Potbelly, Cirulis said. Raising menu prices is, at this point, a tried-and-true response to minimum wage regulation for many restaurant chains.
Persons: Walt Ehmer, it's, lockdowns Ehmer, Waffle, Joe Biden, Biden, Steven Cirulis, Cirulis, Wayne Taylor Organizations: Texas, House, Business, Wall Street, Texas Roadhouse
The pace of first-time filings for jobless claims picked up last week, with the jobs market showing increasing vulnerability to the coronavirus spread. The news comes amid an ongoing rise in coronavirus cases and worries that the national health system is becoming stressed. New daily cases have averaged 174,225 over the past week, and health officials worry that Thanksgiving could send that level higher as families across the country travel to celebrate the holiday. Enrollment in the Pandemic Unemployment Assistance program, which provides benefits to those not normally eligible, decreased by 8,019 over the past week to 311,675. The total receiving benefits rose to 20.45 million for the week ended Nov. 7, up 135,297 from the week before.
Persons: Dow Jones, Chris Rupkey Organizations: Commerce Department, MUFG Union Bank, Companies
Slimmon told Business Insider about what he's doing in his portfolios, including positions in cyclical and Asian stocks. "With the dollar depreciating and Asian currencies appreciating, it means that money is flowing back to Asia and that will lead, in our opinion, to a valuation closure between Asian tech, Asian growth stocks, and US growth stocks." "It could be problematic for some of the tech stocks that are trading at very, very high, very, very high multiples." "The equal-weighted S&P should outperform the cap weighted, because the cap weight is so heavily in the mega-cap tech stocks that are really lagging here." And ultimately that's going to run out of steam at some point next year."
Persons: Andrew Slimmon, Slimmon, He's, haven't Organizations: Morgan Stanley Investment Management, Big Tech, Morgan Stanley Investment, Core, Morningstar, Federal Reserve Locations: United States, Asia, Georgia
But REI employees like Smith say Opt Outside shows only one side of the retailer. At REI, part-time employees have to work at least 24 hours during a holiday week to qualify for six hours of holiday pay. Full-time employees have to work at least 32 hours during a holiday week to qualify for eight hours of holiday pay. A current REI sales lead in the Bay Area who asked to remain anonymous said she had witnessed the practice. "Usually people have their holiday hours — I don't want to say cut, but very carefully adjusted," she said.
Persons: REI, stealthily, Brian Smith, REI's, Smith, " Smith, Carlos Babcock, I've, , she'd, we've, it's, Daniel Schneider, Kristen Harknett, Schneider, Brian Brown, he's, Brown, Seattle REI Organizations: Business, Walmart, Target, Target ., Black, Bay Area, Labor, Amazon, Bay, Urban Outfitters Locations: Portland , Oregon, Saratoga , California, Bay, San Francisco, America, REI, Pittsburgh, California, Seattle
Retail workers may face a higher risk than shoppers of catching COVID-19 on Black Friday and during the extended holiday shopping season. Walmart, Target, and Best Buy have detailed their plans to keep shoppers safe. Retail workers are gearing up for an unprecedented — and potentially dangerous — Black Friday . Without safely reducing or eliminating crowds during Black Friday, frontline retail workers may have to brace for a dangerous working conditions. If stores get busy on Black Friday, retail workers could be in a particularly dangerous situation.
Persons: Mary Meisenzahl, Melissa Love Organizations: Workers, Walmart, Target, National Retail Federation, Disease Control, New York Times, Environmental Medicine, CDC, Occupational Safety, Health Administration, Research, CNN, Kroger, Costco, Waffle House, United Locations: Boston
Gap misses profit estimates on higher costs from online shift
  + stars: | 2020-11-24 | by ( Reuters Staff | ) sentiment -0.99   time to read: +2 min
(Reuters) - Gap Inc fell short of Wall Street estimates for quarterly profit on Tuesday as a pivot to online sales fueled a surge in marketing and shipping costs, sending the apparel retailer’s shares down about 11% in extended trading. FILE PHOTO: A woman shops at a Gap store as pre-Thanksgiving and Christmas holiday shopping accelerates at the King of Prussia Mall in King of Prussia, Pennsylvania, U.S. November 22, 2019. Gap, which has launched digital campaigns such as “Stand United” and “Be the Future”, will continue to make marketing investments, Chief Executive Officer Sonia Syngal said. Store sales declined 20% in the third quarter, and Gap reiterated its intention to close several hundred Gap and Banana Republic stores globally, while opening profitable Old Navy and Athleta stores. Analysts had expected the company to earn 32 cents per share.
Persons: King, King of Prussia, Mark Makela, , Sonia Syngal, ” Syngal Organizations: Reuters, REUTERS, Navy, Republic, Analysts Locations: Prussia, King, King of Prussia , Pennsylvania, U.S, San Francisco
after the presidential election just weeks ago, said Republican voter Richard DiGloria, from Gwinnett County, an Atlanta suburb. said state Sen. Marty Harbin, a Republican, who said even he gets frustrated by the endless barrage. "Save your money I don't need any more crap in my mailbox, spam phone calls or emails," said one Georgia Twitter user. A Republican backing Loeffler accuses Warnock of being anti-police, which is followed by a Warnock ad featuring police officers saying those attacks are false. This time that's real," said Nse Ufot, the CEO of the New Georgia Project, a progressive group that works to register voters, citing the Covid-19 pandemic.
Persons: GRIFFIN, Richard DiGloria, GOP Sen, Kelly Loeffler, Raphael Warnock, Republican Sen, David Perdue, Jon Ossoff —, Perdue, Donald Trump, Joe Biden‘s, Karl Rove, Biden, Sen, Marty Harbin, I'm sooooooo, Tom Cotton, Jessica McGowan, Loeffler, Warnock, Kamala Harris, Elijah Nouvelage, it'll, Ossoff, Alexandria Ocasio, Cortez, Nancy Pelosi, Chuck Schumer, Carolyn Aycock, Schumer, West Virginia Sen, Joe Manchin, Alex Seitz, Wald, Ben Kamisar Organizations: GOP, Democratic, Republican, PAC, Loeffler, Fund, Georgia Twitter, Senate, Democratic U.S, New York Rep, Republicans, New Locations: Georgia, Gwinnett County, Atlanta, Washington, Sens, Perry ,, Jonesboro, Ga, Alexandria, West Virginia, New Georgia, Washington ,
SINGAPORE — Stocks in Japan were set to trade higher at the Tuesday open as investors in Asia-Pacific react to positive coronavirus vaccine news from AstraZeneca as well as U.S. President-elect Joe Biden's choice of former Federal Reserve Chair Janet Yellen as Treasury secretary. Futures pointed to a higher open for Japanese stocks. Vaccine hopesInvestor focus on Tuesday will likely be on the continued positive momentum surrounding the race for a coronavirus vaccine. AstraZeneca said Monday interim analysis showed its coronavirus vaccine has an average efficacy of 70% in protecting against the virus. Meanwhile, news that Biden has picked former U.S. Fed Chair Yellen to be Treasury secretary could also buoy investor sentiment on Tuesday.
Persons: Joe Biden's, Janet Yellen, Biden, Ray Attrill, Stocks Organizations: Stocks, AstraZeneca, Federal, Nikkei, Vaccine, Pfizer, BioNTech, Moderna, U.S, Senate, Fed, Treasury, National Australia Bank, Dow Jones, Nasdaq Locations: SINGAPORE, Japan, Asia, Pacific, Chicago, Osaka, Australia
LONDON — European stocks are expected to open higher on Tuesday amid growing optimism that another effective coronavirus vaccine has been discovered, and on news that the Trump administration has accepted President-elect Joe Biden's transition into office. London's FTSE is seen opening 33 points higher at 6,378, Germany's DAX 86 points higher at 13,258, France's CAC 40 up 32 points at 5,538 and Italy's FTSE MIB 210 points higher at 21,921, according to IG. The gains in futures also came after General Services Administration chief Emily Murphy told President-elect Joe Biden that the Trump administration is making federal resources available for his transition into office. News that Biden has picked former U.S. Fed Chair Yellen to be Treasury secretary may also have buoyed investor sentiment on Tuesday. Subscribe to CNBC PRO to access live PRO Talks, including our Dec. 2 discussion on opportunities and risks in international markets.
Persons: Trump, Joe Biden's, Germany's DAX, Emily Murphy, Joe Biden, Murphy, Donald Trump, Biden, Yun Li, Kevin Breuninger Organizations: FTSE, CAC, IG, Wall, AstraZeneca, Pfizer, BioNTech, General Services Administration, U.S, Senate, Stocks, Ifo, CNBC PRO Locations: Moderna, Japan, Asia, Pacific
Stocks set for higher open as Trump administration begins transition
  + stars: | 2020-11-24 | by ( ) sentiment -0.56   time to read: 1 min
Stocks set for higher open as Trump administration begins transitionU.S. stock futures climbed early Tuesday in relief over the Trump administration's move to begin the transition process. CNBC's Brian Sullivan reports.
Persons: CNBC's Brian Sullivan Organizations: Trump
As more states and countries raise minimum wage, CEOs at Waffle House and McDonald's say chains can handle a federal $15 minimum wage. Waffle House, Potbelly's, and Texas Roadhouse are among the chains that will likely increase menu prices if new state and federal minimum wage regulation passes. For years, fast-food and other restaurant chains have been battling against a federal minimum wage hike. Higher minimum wages mean higher menu pricesAs states raise minimum wage, Texas Roadhouse raises menu prices. While Starbucks declined to comment on federal minimum wage, the coffee giant recently announced all in-store workers would be getting raises.
Persons: We've, Walt Ehmer, Joe Biden, Donald Trump, Biden, Ehmer, Waffle, Read, it's, Chris Kempczinski, McDonald's, Kempczinski, Irene Jiang, Steven Cirulis, Cirulis, Wayne Taylor, Taylor, Reggie Borges, Borges Organizations: Waffle House, House, Waffle, Texas, CNBC, Wall, Factory, Texas Roadhouse, Starbucks Locations: Florida, U.S
Best Buy CFO warns of higher shipping costs and inventory challenges
  + stars: | 2020-11-24 | by ( ) sentiment -0.99   time to read: 1 min
Best Buy CFO warns of higher shipping costs and inventory challengesCNBC's Frank Holland reports on Best Buy's third-quarter earnings and how the CFO is viewing the post-pandemic demand.
Persons: CNBC's Frank Holland
Wall Street opens higher as vaccine progress fuels recovery hopes
  + stars: | 2020-11-23 | by ( Reuters Staff | ) sentiment -0.98   time to read: 1 min
FILE PHOTO: The New York Stock Exchange (NYSE) is seen as people walk in silhouette in the financial district of New York, U.S., November 19, 2020. REUTERS/Shannon Stapleton/File Photo(Reuters) - Wall Street’s main indexes opened higher on Monday as hopes that the first COVID-19 vaccine could be available within weeks renewed bets of a swift economic recovery next year. The Dow Jones Industrial Average rose 69.34 points, or 0.24%, at the open to 29,332.82. The S&P 500 opened higher by 9.28 points, or 0.26%, at 3,566.82, while the Nasdaq Composite gained 61.79 points, or 0.52%, to 11,916.76 at the opening bell.
Persons: Shannon Stapleton Organizations: New York Stock Exchange, REUTERS, Dow Jones, Nasdaq Locations: New York, U.S
Stocks Open Higher on Covid-19 Vaccine Results
  + stars: | 2020-11-23 | by ( Joe Wallace | ) + 0.91   time to read: +1 min
U.S. stocks rose in early trading Monday, putting Wall Street on the front foot after promising results on a Covid-19 vaccine bolstered hopes for an economic rebound in 2021. The S&P 500 climbed 0.6%, after the benchmark stocks gauge snapped a two-week winning streak on Friday. The Nasdaq Composite Index also gained 0.6%, while the Dow Jones Industrial Average advanced 0.6%, or 184 points. Unlike shots under development from Pfizer and Moderna, AstraZeneca’s vaccine can be stored at temperatures above zero degrees Celsius, easing the distribution process, Mr. O’Connor said. Pfizer and partner BioNTech on Friday asked the U.S. Food and Drug Administration to clear the companies’ Covid-19 vaccine, and said that distribution could potentially begin mid-December.
Persons: , Paul O’Connor, Janus Henderson, O’Connor, BioNTech Organizations: Nasdaq, Dow Jones Industrial, University of Oxford, AstraZeneca, Janus, Pfizer, Moderna, U.S . Food, Drug Administration Locations: U.S
SINGAPORE — Stocks in Australia rose in early trading on Monday as lockdown restrictions were eased in the state of Victoria. The S&P/ASX 200 rose about 0.4% as shares of major miners Rio Tinto and Fortescue jumped 1.43% and 3.3%, respectively. Investors will monitor shares of airlines in Hong Kong and Singapore, including Cathay Pacific and Singapore Airlines, after an anticipated air travel bubble between the two cities was delayed. That came as Hong Kong has seen a recent increase in coronavirus cases. Markets in Japan are closed on Monday for a holiday.
Persons: Fortescue Organizations: Stocks, Cathay Pacific, Singapore Airlines Locations: SINGAPORE, Australia, Victoria, Rio Tinto, Hong Kong, Singapore, Japan
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