Month: July 2020

Stocks higher following strong tech earnings

spike 7 months ago

Apple CEO Tim Cook delivers the keynote address during the 2020 Apple Worldwide Developers Conference (WWDC) at Steve Jobs Theater in Cupertino, California.

Brooks Kraft/Apple Inc/Handout via Reuters

Dow Jones Industrial Average rises 114 points

The Dow Jones Industrial Average rose 114.67 points, or 0.44%, to 26,428.32. The S&P 500 rose 0.77% to 3,271.12. The Nasdaq Composite finished the day up 1.49% to 10,745.27.

The market also wrapped up the month of July with decent gains. The 30-stock benchmark gained 2.38% this month, while S&P 500 rose 5.51% for its fourth consecutive positive month. The tech-heavy Nasdaq outperformed, climbing 6.82%.

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United adds some international flights for September, but remains cautious

spike 7 months ago

A United Airlines plane sits on the tarmac at San Francisco International Airport.

Justin Sullivan | Getty Images

United Airlines on Friday said it plans to add certain flights back in September, staying cautious as the coronavirus pandemic continues to depress travel demand.

The Chicago-based airline’s September capacity will be 37% of year-ago levels and up 4 percentage points from its August 2020 schedule.

United has been among the most conservative airlines when it comes to restoring flights. While demand began to recover in the late spring, it stalled after a spike in coronavirus cases in the U.S. and states

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‘Tentative’ shoppers are here to stay

spike 7 months ago

Under Armour’s stores are opening back up across the county after being forced shut due to the Covid-19 crisis, but shoppers aren’t showing up like they used to, according to the retailer’s CEO.

“The consumer is there, but they are still nowhere near pre-Covid levels … there is hesitancy there,” Under Armour Chief Executive Patrik Frisk told CNBC’s Sara Eisen Friday morning, on the heels of the retailer’s fiscal second-quarter earnings report.

“The consumer is out there shopping, and when they do shop conversion is better,” he explained. “But the traffic is still depressed. … We think that kind of

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Coronavirus is so contagious, it won’t likely ever disappear

spike 7 months ago

Dr. Anthony Fauci, Director of the National Institute for Allergy and Infectious Diseases testifies at a House Subcommittee on the Coronavirus Crisis hearing on Capitol Hill on July 31, 2020 in Washington, DC. Force.

Kevin Dietsch | Pool | Getty Images

White House coronavirus advisor Dr. Anthony Fauci said Friday the coronavirus is so contagious it won’t likely ever completely go away, contradicting statements made by President Donald Trump who has repeatedly said Covid-19 will eventually vanish.

“I do not believe it would disappear because it’s such a highly transmissible virus,” Fauci, director of the National Institute of Allergy and

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