Daily Briefing

The technology sector is continuing with its takeover of the broader market with the recent announcement of Exxon, Raytheon, and Pfizer being removed from the Dow Jones Industrial Average Index.

TikTok sues the U.S. government, President Trump announced expanded access to convalescent plasma as a COVID-19 treatment, and what’s contributing to the soaring lumber futures prices.

Divergent PMI readings between the U.S. and Europe indicate a stark contrast forming between the two continents. While Europe was hit with a wake-up call today, it looks like the American dream has yet again bought itself more time.

The European Central Bank, the Bank of Japan, the Bank of England, and the Swiss National Bank have all announced today that they would be scaling back their US dollar liquidity operations.

Yesterday, the S&P hit a record-breaking closing high of 3,389.78. At least for now, this new high has held up, trading slightly above yesterday’s close.

Yesterday, the Democratic National Convention kicked off and will run through this Thursday, where the Democratic Party will formally nominate Joe Biden and Kamala Harris as president and vice president for this election.

U.S. retail spending rising above pre-pandemic levels, Rent the Runway closing physical locations, and more.

Today, initial jobless claims have dropped below 1 million to 963,000, seasonally adjusted for the week ending August 8. This is the first time that initial jobless claims fell below the one million level since the beginning of the pandemic in March.

With no stimulus bill passed, U.S. Congressional lawmakers have wrapped negotiations, ending in a stalemate. President Trump issued executive orders over the weekend to extend aid—but who and what will be hurting in the mean time?

Warren Buffett’s Berkshire Hathaway bought $5 billion of its own stock in Q2 – and yet it was a net seller of equities by $13 billion. What gives?

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