Late News This information from last news on the day

‘Glass half full’ outlook pushes S&P 500 over 3,000

U.S. stocks rose for a third day as optimism mounts that the global economy is on the rebound from the pandemic hit. Treasuries slipped.

The S&P 500 jumped back above 3,000 and its average price for the past 200 days, technical levels considered key by chart watchers.

The S&P/TSX composite index was up 13.37 points at 15,161.49.

In New York, the Dow Jones industrial average was up 345.12 points at 25,340.23. The S&P 500 index was up 22.12 points at 3,013.89, while the Nasdaq composite was down 26.69 points at 9,313.53.

For a second day, stocks most punished by the coronavirus, from Carnival Corp. to United Airlines, surged as investors anticipate a sharp uptick in spending on non-essential goods and services. The tech-heavy Nasdaq 100 Index retreated as investors shunned the high flyers that dragged equities off their lows throughout April and much of May. Rising tensions with China also

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U.S. food prices see historic jump and are likely to stay high

As if trips to the grocery store weren’t nerve-wracking enough, U.S. shoppers lately have seen the costs of meat, eggs and even potatoes soar as the coronavirus has disrupted processing plants and distribution networks.

Overall, the cost of food bought to eat at home skyrocketed by the most in 46 years, and analysts caution that meat prices in particular could remain high as slaughterhouses struggle to maintain production levels while implementing procedures intended to keep workers healthy.

While price spikes for staples such as eggs and flour have eased as consumer demand has leveled off, prices remain volatile for carrots, potatoes and other produce because of transportation issues and the health of workers who pick crops and work in processing plants.

In short, supermarket customers and restaurant owners shouldn’t expect prices to drop anytime soon.

“Our biggest concern is long-term food costs. I believe they will continue to go up,” … Read More

Strategists lower their sights for TSX, but current rally ‘has legs’

TORONTO — Canada’s main stock index is set to extend its rebound over the coming months as well as in 2021, but will fall short of previous expectations as the global economy struggles to fully recover from the coronavirus crisis, a Reuters poll found.

The commodity-linked S&P/TSX Composite index has rallied about 35 per cent since plunging in March to a more than eight-year low, supported by steps to reopen the world economy and a rally in oil prices after U.S. crude hit a record low.

The median forecast in a survey of 25 portfolio managers and strategists was for the TSX to rise 2.9 per cent to 15,590 by the end of 2020 from a closing level of 15,148.12 on Tuesday. In February, when the index notched a record high at 17,970.51, the forecast was 18,175.

The TSX is then expected to climb further to 17,000 by the end

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‘Best three months of my life’: Overworked lawyers are actually loving lockdown

Hugh Sandler used to commute two hours a day between Grand Central Terminal and his home in the New York City suburbs. Like thousands of other attorneys who logged long hours in Manhattan law firms, Sandler regarded coming into the office as an essential part of his job. Then came March, which marked the first time he and many other lawyers worked full days at home. For Sandler, it was a major adjustment—but also a surprisingly pleasant one.

“My experience has been very positive. I have a 7-month-old and being at home at this time has created a lot of additional benefits, including that I can be around for him,” he says.

Other lawyers—many working from home for the first time in their careers—described a variety of emotions, ranging from relief to something many haven’t felt since college: sheer, unadulterated delight. “Best three months of my life,” said one Chicago … Read More

Twelve migrants test positive for coronavirus at Mexican government shelter By Reuters

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© Reuters. Outbreak of the coronavirus disease (COVID-19) in Ciudad Juarez

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CIUDAD JUAREZ, Mexico (Reuters) – Twelve migrants have tested positive for coronavirus at a government-run shelter in the Mexican border city of Ciudad Juarez, the Mexican labor ministry said in a statement on Friday.

The migrants have been isolated to prevent further spread of the virus in the Leona Vicario center, which houses 337 people, the ministry said.

“People with COVID-19 symptoms receive medical treatment in a timely manner and remain in an isolation area to monitor their progress,” the ministry said.

Fourteen migrants considered to be high-risk, including pregnant women and people with chronic medical conditions, were transferred to another facility, according to the government.

Ciudad Juarez, a gritty industrial city that neighbors El Paso, Texas, has received thousands of migrants under a Trump administration policy that sends U.S. asylum seekers to Mexico to await the

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Five blockbuster deals that would inject some excitement into markets during quarantine

My kids are trapped in quarantine, and they are passing the time in part by suggesting some investment column ideas for me. Hopefully the world returns to normal soon and you won’t be subject to the (not so bad, actually) investment thoughts of two teenage boys.

This week, instead, we are going to put on our dealmaker hats and propose some ideas for bored investment bankers to consider. Times are tough all over, but there is nothing like hefty broker fees to get Bay and Wall Street’s blood racing. Here are some deal propositions that could work:

Netflix should buy Spotify

Netflix (NFLX on Nasdaq) is facing lots of competition in the streaming business. Sure, COVID-19 has helped recent growth, with everyone stuck at home, but this won’t last forever. What better way to tie up your customers than to offer viewing options and music. Spotify (SPOT on Nasdaq) has

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