Stock futures rise after Monday’s record-setting session

first_img“Value and smaller companies typically have more leverage to economic recoveries so a vaccine that would remove the weight of COVID-19 off the economy is a distinct positive,” wrote Bill Stone, chief investment officer at Stone Investment Partners. “Time will tell if this reversal in trends proves durable or starts “makin’ the tears rain down like a monsoon” for value proponents like the many recent false starts.”The recent outperformance in value stocks comes even as the number of coronavirus cases continues to increase, dampening the country’s near-term economic outlook.More than 1 million cases were confirmed in less than a week in the U.S., bring the country’s total to more than 11 million, according to data from Johns Hopkins University. Data from The Covid Tracking Project also showed U.S. coronavirus-related hospitalizations have risen to nearly 70,000.“The near-term COVID backdrop remains bleak with exploding cases, rising hospitalizations, and additional mitigation measures,” wrote Adam Crisafulli, founder of Vital Knowledge. “But the broader tape is willing to overlook all this for the time being.”Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. – Advertisement – Earlier in the day, the Dow and S&P 500 posted all-time closing highs. The Dow also notched an intraday record. Those gains came after Moderna released trial data showing its coronavirus vaccine was more than 94% effective, further raising expectations of a sharp economic recovery.That marked the second positive announcement related to a coronavirus vaccine in a week. Pfizer and BioNTech said Nov. 9 that their Covid-19 vaccine candidate was more than 90% effective among participants in a late-stage trial.Value stocks led the advance on Monday, building on their strong gains from last week. The iShares Russell 1000 Value ETF (IWD) jumped 1.9%, while its growth counterpart closed higher by just 0.5%.- Advertisement – Traders work on the floor of the New York Stock Exchange.Source: NYSEcenter_img – Advertisement – U.S. stock futures opened slightly higher on Monday night after two of the three major market benchmarks closed at record levels.Dow Jones Industrial Average futures were up marginally and S&P 500 futures gained 0.1%. Nasdaq 100 futures outperformed, rising 0.6%.Tesla shares jumped more than 10% after S&P Dow Jones Indices said the electric car maker would join the S&P 500 index, effective Dec. 21.- Advertisement –last_img read more

Shelly-Ann Fraser-Pryce to Tackle Double in Tokyo

first_imgAthletics – World Athletics Championships – Doha 2019 – Women’s 100 Metres Final – Khalifa International Stadium, Doha, Qatar – September 29, 2019 Jamaica’s Shelly-Ann Fraser-Pryce celebrates winning gold REUTERS/Fabrizio Bensch KINGSTON, Jamaica – Jamaican Sprinter, Shelly-Ann Fraser-Pryce confirmed that she will tackle both the women’s 100m and the 200m at next year’s Olympics in Tokyo.Throughout her career, Fraser-Pryce has mainly focused on the 100m at major championships, only ever winning one Olympic medal(silver) in the 200m at the 2012 London Olympics. But next year, Fraser-Pryce is setting her sights on achieving the gold in both events.“[I will be] doubling up definitely. Last year [season] I really wanted to attempt the double but coach had other plans, so I just worked with that plan. He knows best so I just worked with his plan,” she told reporters in Jamaica.The sprinter has never dipped below 22 seconds in the 200m, which is also another aim for her in the 2020 season.“I am definitely looking forward to doing the 200m, especially because I believe in my heart that I can run 21s. It’s a big passion of mine so I am working really hard towards that. So hopefully, I will get to run some more 400m even though I don’t like it, but hopefully I will get it done for 2020,” she shared.Last month, Fraser-Pryce announced that the 2020 Tokyo Olympics will be her fourth and final Olympic games. “I am always grateful for the opportunity to represent my country, my family, myself, but Tokyo is my last Olympics. I definitely know that,” she said.The sprinter did not confirm whether she would completely retire from athletics, but hinted at the idea. “It doesn’t make me feel anything. I will miss the sport, but I will be OK. I don’t think it will be hard to retire. Athletics is just one thing I do.”last_img read more

English FA bracing for long spell without fans

first_imgLondon, United Kingdom | AFP | English Football Association chairman Greg Clarke does not believe fans will be allowed into stadiums “any time soon” and has warned that the coronavirus crisis could cost the governing body £300 million ($373 million).Football across England has been indefinitely suspended, with the 2019/20 season in all leagues below the top four divisions already declared over.However, there are growing fears that the 2020/21 campaign also faces huge disruption due to social-distancing guidelines.“With social distancing in place for some time to come we do face substantial changes to the whole football ecosystem,” Clarke wrote in a letter to the FA Council.“For example, it’s hard to foresee crowds of fans, who are the lifeblood of the game, returning to matches any time soon.”The Premier League is still hoping to finish the season behind closed doors, with “Project Restart” aimed at minimising a predicted £1 billion loss if the campaign cannot be completed.It is understood top-flight clubs were told on Friday that the remaining matches of the season must be played at neutral venues. Further down the pyramid, where gate receipts make up a much higher percentage of clubs’ income without lucrative TV deals, there are doubts over whether a new season can even start without fans being allowed to attend.The FA has also been affected by the cancellation of at least four England fixtures and the suspension of the FA Cup.Clarke said a “sensible” £75 million budget cut had been agreed.“In a worst-case scenario, this would be necessary for the next four years to offset a £300 million deficit,” he added.“Clearly that will impact many of our plans as every area of the game will be touched and projects that we all value will be affected.” Share on: WhatsApplast_img read more