Wall Street braces for an unpredictable US election

Investors are bracing for a rocky campaign season that’s poised to weigh on markets just as they approach pre-pandemic highs. What’s happening: As the Democratic National Convention kicks off, Wall Street strategists generally agree that the health of the economy, the path the pandemic takes and the viability of a vaccine are most significant to…MORE

Nike, Under Armour and Adidas are among the biggest losers of canceled college football

Two of the country’s top college football conferences will postpone their fall seasons. That could mean billions of dollars in losses — for universities, college towns and companies built around the American college football spectacle. Sportswear companies in particular stand to lose out on one of their biggest investments and most lucrative marketing opportunities. Nike,…MORE

Vaccine maker backed by Bill & Melinda Gates soars 40%

CureVac, a German biotech working on a Covid-19 vaccine that is backed by the Bill & Melinda Gates Foundation and has a manufacturing agreement with Elon Musk’s Tesla, soared again Monday after more than tripling in its Wall Street debut Friday. Shares of CureVac were up about 40% Monday after its CEO Franz-Werner Haas said…MORE

GOP congressman Adam Kinzinger urges Republican leaders to denounce QAnon

Republican congressman Adam Kinzinger has a message about the QAnon conspiracy theory: It is a fabrication that must be denounced by political leaders in his own party. Kinzinger, who represents the 16th district of Illinois, is pairing that message with one that’s equally important: “If you know someone who buys into these theories, don’t hate…MORE

Japan suffers worst GDP fall on record, but it fared better than others

Japan just reported its worst drop in GDP on record as the ongoing Covid-19 outbreak dented consumption. The world’s third-largest economy shrank 7.8% in the second quarter compared with the previous quarter, the country’s Cabinet Office said on Monday. That translated to an annual rate of decline of 27.8%, the worst since modern records started…MORE

Carl Bernstein: Challenges facing the USPS are a ‘national emergency’

There is growing concern among legislators, voters and postal workers over financial strain and policy changes at the United States Postal Service — and legendary journalist Carl Bernstein said the issue should also be top of mind for journalists, calling it “a national emergency.” If the Postal Service is unable to function properly, it could…MORE

Worried voters are buying stamps and merch to fund the USPS

The USPS implemented procedural changes this month, with modifications that will slow delivery and capacity as the United States gears up for the November election. In response, Americans are flocking to USPS’s website to buy merchandise in an effort to support the postal service. The USPS website has a wide range of products available for…MORE

How much longer can this greed-fueled rally last?

Is the stocks rally turning into a bubble? Consider the evidence: The S&P 500 and Nasdaq are not far from record highs. The VIX volatility index has plunged in the past month. There has also been a crazy run this summer in speculative stocks like Kodak, which is apparently a drug company now, and bankrupt…MORE

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