Dow set to sink, continuing last week’s slide

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BY THE NUMBERS

IN THE NEWS TODAY

China’s capital Beijing reinstated some coronavirus mitigation measures after an sudden spike of circumstances linked to the town’s sprawling Xinfadi wholesale meals market. After almost two months with no new infections, Beijing officers have reported 79 circumstances over the previous 4 days, the town’s greatest cluster since February. (Reuters)

States in varied phases of reopening — together with Alabama, California, Florida, North Carolina, Oklahoma and Texas — are reporting sharp will increase in each day new coronavirus circumstances, whereas President Donald Trump strikes ahead with Saturday’s deliberate indoor rally in Tulsa, Oklahoma. (Reuters)

New York Gov. Andrew Cuomo is warning New York Metropolis and different areas of the state that they might see their reopening plans reversed if individuals and companies hold defying social distancing pointers. Nearly all of greater than 25,000 complaints have been about companies in Manhattan and the Hamptons, the governor stated. (NBC Information)

White Home commerce advisor Peter Navarro stated the Trump administration is searching for one other coronavirus stimulus bundle of “at the very least $2 trillion.” That may be about double what Senate Majority Chief Mitch McConnell needs and about two-thirds the quantity in a invoice handed by Home Democrats final month. (CNN)

High Trump financial advisor Larry Kudlow stated the federal enhanced unemployment profit, set to run out late subsequent month, is a “disincentive” for individuals to return to work. The additional $600 per week on prime of what states supply pays individuals greater than their common wage. Kudlow stated {that a} return-to-work bonus is into account. (CNBC)

The deadly capturing of Rayshard Brooks by a white police officer in Atlanta on Friday reignited protests in metropolis towards racism and police brutality, which have been prompted by final month’s police killing of George Floyd in Minneapolis. The Georgia NAACP plans to carry a protest Monday on the state Capitol. (AP)

* Trump says he will not watch NFL or U.S. soccer if gamers do not stand for nationwide anthem (Reuters)

STOCKS TO WATCH

Walmart (WMT) is partnering with e-commerce platform Shopify (SHOP) to develop its third-party market website. Final month, Walmart reported a 74% surge in quarterly e-commerce gross sales and discontinued operations at e-commerce start-up Jet.com, which it had acquired for $3.Three billion in 2016.

BP (BP) plans to take a writedown of as much as $17.5 billion for the present quarter, after considerably chopping its long run outlook for oil and fuel costs. BP can be now forecasting a quicker transition away from fossil fuels. BP will subject its subsequent earnings report on August 4.

Walt Disney’s (DIS) Hong Kong Disneyland theme park will reopen on Thursday, with a decreased variety of guests and enhanced well being measures corresponding to social distancing.

Pilgrim’s Delight (PPC) Chief Government Officer Jayson Penn is taking a paid go away of absence. Penn was indicted for taking part in an alleged hen price-fixing scheme, and the poultry producer stated it will be in the perfect pursuits of each Penn and the corporate to permit him to give attention to his authorized protection. CFO Fabio Sandrias will function interim CEO.

AstraZeneca (AZN) signed a contract to supply European governments with 400 million doses of its Covid-19 vaccine candidate. The vaccine continues to be in scientific trials, and if it proves protected and efficient, deliveries would probably begin by the top of this yr.

Hertz (HTZ) gained chapter court docket approval to promote as much as $1 billion in its inventory. The automobile rental firm is attempting to benefit from a latest rally in its shares.

Nokia (NOK) is partnering with Broadcom (AVGO) to develop chips for 5G gear. Nokia had beforehand struck related offers with Intel (INTC) and Marvell (MRVL).

AT&T (T) is searching for a sale of its Warner gaming unit, in response to individuals accustomed to the matter who spoke to CNBC. They are saying Take-Two Interactive (TTWO), Activision Blizzard (ATVI), and Digital Arts (EA) are all stated to have expressed curiosity within the unit, and that it may fetch as much as $Four billion.

WATERCOOLER

Burger King is launching a breakfast sandwich made with meat-free Not possible Sausage to its menu nationwide. The Restaurant Manufacturers Worldwide chain, which started testing the Not possible Croissan’wich in January, is the primary nationwide chain so as to add Not possible Meals’ sausage to a breakfast sandwich. (CNBC)

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