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Tue, Aug 4th, 2020
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Stocks Erase Overnight Losses on Strength in Tech Stocks and Better-Than-Expected U.S. Economic Data


The S&P 500 Index ($SPX) this morning is up +0.13%, the Dow Jones Industrials Index ($DOWI) is up +0.09%, and the Nasdaq 100 Index ($IUXX) is up +0.30%.

U.S. stock indexes this morning erased overnight losses and are up modestly. Strength in technology stocks today pushed the Nasdaq 100 up to a new record high and is providing support for the overall market. Stocks extended their gains after U.S. June factory orders rose more than expected.

Stocks earlier moved lower in overnight trading as U.S. lawmakers remain deadlocked in their attempts to reach a compromise on a new pandemic rescue bill, although optimism improved this morning after Senate Democrat Minority Leader Schumer said the talks were "moving in the right direction."

Rising U.S./China tensions also weighed on stocks after an editorial in the state-run China Daily published late Monday said U.S. demands for the sale of China's social media app TikTok to Microsoft is "theft," and China has plenty of wa... Read more

Key GOP senator backs food stamp boost in virus relief bill

WASHINGTON (AP) — A key Senate Republican said Tuesday that he supports an increase in the food stamp benefit as part of a huge coronavirus relief bill, adding that an agreement on that issue could lead to further overall progress on the legislation, which remains stalled despite days of Capitol negotiations.

The Latest: Florida daily deaths at 245, nearly 5,500 cases

St. PETERSBURG, Florida — Florida’s coronavirus death tally surged to 245 on Tuesday.

Wall Street drifts as stock rally takes a pause; yields drop

NEW YORK (AP) — U.S. stocks are drifting between small gains and losses Tuesday as Wall Street's big rally lets off the accelerator.

MSFT : 212.99 (-1.64%)
AIG : 29.71 (-7.56%)
Annual Sturgis rally expecting 250K, stirring virus concerns

SIOUX FALLS, S.D. (AP) — Sturgis is on. The message has been broadcast across social media as South Dakota, which has seen an uptick in coronavirus infections in recent weeks, braces to host hundreds of thousands of bikers for the 80th edition of the Sturgis Motorcycle Rally.

AP Exclusive: Rare wildflower could jeopardize lithium mine

RENO, Nev. (AP) — A botanist hired by a company planning to mine one of the most promising deposits of lithium in the world believes a rare desert wildflower at the Nevada site should be protected under the Endangered Species Act, a move that could jeopardize the project, new documents show.

TSLA : 1,477.32 (-0.52%)
Tampa teenager accused in Twitter hack pleads not guilty

TAMPA, Fla. (AP) — A Florida teen identified as the mastermind of a scheme that gained control of Twitter accounts of prominent politicians, celebrities and technology moguls pleaded not guilty on Tuesday to multiple counts of fraud.

TSLA : 1,477.32 (-0.52%)

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