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Baidu Q2 20 Earnings:
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-          Revenue: CNY26.03B (exp CNY25.72B)

-          Adj Profit Per Ads: CNY14.73B (exp CNY9.42B)

-          Sees Q3 Revenue CNY26.4B To CNY28.7B (exp CNY27.62B)

2 hours ago
Florida Covid-19 Update
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6 hours ago
US Weekly Economic Index: August 13, 2020
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Federal Reserve Bank of New York

Commentary

The increase in the WEI for the week of August 8 was due to a decline in initial unemployment insurance claims and increases in rail traffic and fuel sales, which more than offset decreases in electricity output and tax withholding.

 

August 11

Preliminary Estimate      -6.37

7 hours ago
Israel and United Arab Emirates agree to normalise relations (Full Article) - WaPo
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The Washington Post

The historic announcement marks only the third Arab state to make peace with Israel, after Egypt and Jordan, and the first such deal with a Persian Gulf state.

 

President Trump, whose administration had a hand in the diplomacy, tweeted, "HUGE breakthrough today! Historic Peace Agreement between our two GREAT friends, Israel and the United Arab Emirates!"

 

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7 hours ago
Corn trades up 3% from its previous close - CME
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CME Group

On Aug 13, 10:22 AM, Corn price increased 3% from its previous close. This has occurred 6 times over the last 12 months.

 

50% (3 out of these 6 times), the price has decreased 5 hours later by an average of 4.62 points. The maximum decrease in price has been 13.25 points.

 

3 times out of 6, the price has increased 5 hours later by an average of 4.33 points. The maximum price increase has been 6.38 points.

 

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7 hours ago
Initial Jobless Claims Fell Below A Million Last Week - LS
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LiveSquawk News
8 hours ago
Copper trades 1 standard deviation below its 5-day moving average - CME
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CME Group

On Aug 13, 08:05 AM, Copper trades 1 standard deviation below its 5-day moving average. This has occurred 37 times over the last 12 months.

 

54% (20 out of these 37 times), the price has decreased 4 hours later by an average of 0.01 points. The maximum decrease in price has been 0.06 points.

 

17 times out of 37, the price has increased 4 hours later by an average of 0.01 points. The maximum price increase has been 0.03 points.

 

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9 hours ago
US Jobless claims show renewed downward momentum - OxEcon
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Oxford Economics

Another larger-than-expected decline in jobless claims suggests that the jobs recovery is regaining some momentum but with a staggering 28 million workers still claiming some form of jobless benefits, much labour market progress remains to be done.

 

Initial jobless claims for regular state benefits fell below the 1mn mark for the first time since the beginning of the pandemic, down 228,000 to 963,000 mln. Claims for Pandemic Unemployment Assistance (PUA) also fell markedly.

 

Continuing claims fell for the second consecutive week to their lowest level since early-April and have now resumed their downtrend, an encouraging sign that suggests that rehiring is picking up again. However, the level remains at a historically high 15.5mln, underscoring the painfully slow recovery in the labour market.

 

Factoring in individuals receiving emergency federal benefits provided by the CARES Act – either PUA or PEUC benefits – a very elevated 28.3mln individuals were receiving benefits in the week ended July 25.

 

Lydia Boussour, Senior US Economist

Gregory Daco, Chief US Economist

10 hours ago

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