We have never seen such disparity. There have been wacky times in history but nothing has ever been so exaggerated. But no need to worry because as the masses have suggested, the Fed is there to save us all. Right?
Tesla jumps 12% as stock split takes effect, Apple gains 3%
Shares of Apple and Tesla rose sharply Monday, the first day of their stock splits. Apple advanced 3.4% and was the best-performing component in the Dow Jones Industrial Average. Tesla jumped 12.6%. Monday’s gains were the latest in a string of strong performances since the companies announced the stock splits.
Virgin Galactic: Cowen survey of high net worth individuals for spaceflight
A Cowen survey found that more than a third of high net worth individuals would be interested in paying for a Virgin Galactic flight, giving a sense of the demand for the company’s space tourism service once it begins flying customers next year.
People Line Up In Record Numbers At Alameda Co. Food Bank In COVID-19 Economy – CBS San Francisco
OAKLAND (KPIX 5) – The pandemic has pushed food insecurity to levels not see in decades and people are relying on food banks more than ever here in the Bay Area. Three times a week, hundreds of cars line up as thousands of pounds of food are all given away at the Alameda County Food Bank.
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China’s big banks face fallout as pandemic forebearance expires – Reuters
BEIJING/SHANGHAI (Reuters) – China’s largest state-owned banks are readied for rising bad debt and increased margin pressure in the months ahead as forbearance policies designed to give borrowers breathing space during the coronavirus crisis expire. All five banks, which have been raising provisions to counter expected losses due to rising soured loans, have reported their biggest profit falls in at least a decade.
J.C. Penney sale talks stall, pushing retailer to brink – Reuters
NEW YORK (Reuters) – J.C. Penney Co Inc’s talks with landlords for a rescue from bankruptcy proceedings reached an impasse, pushing the department store to the brink of collapse unless it can reach a deal within days to be taken over by lenders.
People Move From New York, New Jersey to Florida, Texas as Covid Boosts Mobility – Bloomberg
Elon Musk Is Richer Than Mark Zuckerberg After Tesla (TSLA) Stock Split – Bloomberg
Louisiana food banks turn from one crisis to another as Laura recovery begins | wwltv.com
Leaders with Second Harvest say they were able to prepare thousands of meals because of volunteers helping in the organization’s kitchen in Lafayette and Harahan. NEW ORLEANS – There’s a growing need in Southwest Louisiana after Hurricane Laura battered the area, which is why Second Harvest leaders are working out of Lafayette to help as much as they can.
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The Money GPS is the most active, most informative channel in the financial world. Day after day, breaking down the data and making it easy to understand. This channel is not here to help build a portfolio, give stock picks, or financial advice. It’s simply data that is generally not found through conventional means.We are entering a phase of the market cycle where some are looking at stocks in a positive way. Placing more cash, more money onto these stocks. Some are choosing bonds. The financial system is feeling the effects of low interest rates.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of The Duran.