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

Healy cited for biting

first_img The statement continued: “The incident occurred in the 17th minute. Healy will now appear at a judicial hearing tomorrow, Thursday June 6, at the Sofitel Hotel in Brisbane.” Match citing officer, South African Freek Burger, asked Sheehan to provide him with a statement after he made a biting allegation to referee Glen Jackson during the game. The game was held up while television match official Glenn Newman looked at replays from different angles of any alleged offence, but nothing materialised from that footage. Healy, who had been widely tipped to win a Lions Test place against Australia later this month, could face a lengthy ban. But he is also battling to overcome a suspected ankle ligament injury, the full extent of which the Lions management hope to know within 24-48 hours. The Lions leave Perth for Brisbane on Thursday, where they face the Queensland Reds on Saturday. Press Association Healy is alleged to have committed the offence on Western Force scrum-half Brett Sheehan during Wednesday’s tour game at Patersons Stadium, the Australian Rugby Union has announced. Ireland and Leinster forward Healy was later carried off after suffering an ankle injury that is threatening his future participation in the tour. The ARU said, in a statement: “British and Irish Lions prop, Cian Healy, has been cited for acts contrary to good sportsmanship against Emirates Western Force scrum-half, Brett Sheehan, in the opening match of the DHL Australia 2013 Lions Tour. Healy has been cited under Law 10.4.m Acts contrary to good sportsmanship, a player may not bite an opponent.” center_img British and Irish Lions prop Cian Healy has been cited for allegedly biting an opponent.last_img read more

Cricket News Gautam Gambhir blasts ex-Pakistan cricketer Shahid Afridi over Kashmir Bifurcation tweet

first_img For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps. Article 370 and Article 35A was scrapped by the Narendra Modi government.Jammu and Kashmir has now become a Union Territory.Ladakh is also a Union Territory which will not have an assembly. highlightscenter_img New Delhi: The Jammu and Kashmir Reorganisation Bill 2019, which was passed on Monday, has drawn a wide range of emotions in both India and Pakistan. While a majority in India was in favour of scrapping Article 370 and Article 35A, there was widespread disappointment in Pakistan. Former Pakistan cricket captain Shahid Afridi, however, raked up a major controversy when he asked for the mediation of USA President Donald Trump in this matter. On his official Twitter handle, Afridi wrote, “Kashmiris must be given their due rights as per #UN resolution. The rights of Freedom like all of us. Why was @UN created & why is it sleeping? The unprovoked aggression & crimes being committed in Kashmir against #Humanity must be noted. The @POTUS must play his role to mediate,” Afridi said. In response, Gautam Gambhir, the former India batsman who has never had a good relationship with Shahid Afridi, blasted him by saying the ‘unprovoked aggression and crimes’ were taking place in Pakistan Occupied Kashmir. “@SAfridiOfficial is spot on guys. There is “unprovoked aggression”, there r “crimes against humanity”. He shud be lauded 👏 for bringing this up. Only thing is he forgot to mention that all this is happening in “Pakistan Occupied Kashmir”. Don’t worry, will sort it out son!!!,” Gambhir wrote.The Jammu and Kashmir Reorganisation Bill, 2019, seeking to bifurcate the state into two union territories of J-K and Ladakh, has been passed by 125 “Ayes” and 61 “No” in Rajya Sabha on Monday amid a walkout by opposition parties. One member abstained from voting. Opposition BSP, BJD, AIADMK and YSR-Congress voted in favour of the bill while Congress, DMK, Samajwadi Party, Trinamool Congress, JDU vehemently opposed the resolution.Moving the resolution following President Ram Nath Kovind’s order abrogating Article 370, Union Home Minister Amit Shah sought the permission of the House to bring the bill, adding that the controversial provisions were responsible for poverty and lack of development in the state.Asked how long will Jammu and Kashmir remain a Union Territory, Shah, however, said full statehood will be restored again at “appropriate time” and after “normalcy” returns in the region. Earlier, Union Home Minister Amit Shah informed the Rajya Sabha that Article 370, which gave Jammu and Kashmir special rights, has been scrapped with President Kovind’s assent.Shortly afterwards, Kovind came out with a notification – The Constitution (Application to Jammu and Kashmir) Order, 2019 that will come into force immediately. The order will supersede the Constitution (Application to Jammu and Kashmir) Order, 1954 as amended from time to time.last_img read more