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The S&P reaches new high, shocking all amidst pandemic


Markets

Nikkei 225

22,920.30

▲ +39.68 / +0.17%

SSE Composite

3,380.68

▲ +16.78 / +0.50%

IBOVESPA

101,521.29

▲ +53.42 / +0.05%

Straits Times

2,528.54

▲ +0.62 / +0.02%

BMV IPC

38,095.88

▼ -611.35 / -1.58%

Dow Jones

27,930.33

▲ +190.60 / +0.69%

DAX 30

12,764.80

▼ -65.20 / -0.51%

BSE SENSEX

38,434.72

▲ +214.33 / +0.56%

FTSE 100

6,001.89

▼ -11.45 / -0.19%

JSE Top 40

51,669.18

▲ +289.16 / +0.56%

Market News

  • Hang Seng: Hong Kong’s Hang Seng index closed this past Friday up 322.45 points, or 1.3%.
  • Dow Jones: The Dow in the United States showed record jumps this past week, ultimately closing on Friday up 190.6 points.
  • BEL 20: Among the numerous European indices closing down this past week was Belgium’s Bel 20, at -1.04%

Last Week’s Highlights

S&P 500 Hits Record, Amid Global Economic Crisis

On Tuesday of this past week, the United States’ S&P 500 reached a new record. This news sounds unlikely, considering that the world, and especially the US, continues to grapple with the health and economic consequences of COVID-19. However, many seasoned investors aren’t as surprised as perhaps many people. The reason? Federal Reserve actions to maintain low interest rates and slowly recovering and recopening economies could be main keys, among others. Following Tuesday’s peak, the S&P’s chart dipped a bit, but has not acted as volatile as perhaps expected.

Biden and Harris Officially Accept Dem Nomination

Last week, the Democratic National Convention officially nominated Joe Biden and running mate Kamala Harris for the party’s general election ticket. The multi-night event was full of messages from numerous, well-known representatives, including Michelle and Barack Obama, Hillary Clinton, and Jill Biden. The confirmation of this ticket, however, will be nothing if voters do not turn out to vote en masse, warned Clinton.

Coming Up This Week

Chinese Officials Accused of Covering Up Coronavirus Information

As the world grapples to understand the origin and spread of SARS-CoV-2, new revelations about hidden information have begun to come to light. The New York Times reported recently that US intelligence found reason to believe that representatives in China, not necessarily linked to the federal government, actively suppressed information about the virus’ spread. While many have been suspect of China’s handling of the pandemic, findings lead investigators to believe that the capital didn’t have enough information from the start.

Flint, a Town Poisoned by Its Own Government, to Receive Settlement

A small metropolitan town in Michigan, USA that, for years on end, has been without safe drinking and bathing water, will finally receive settlement. How much? $600 million is expected to be distributed, with around 80% to go to cases involving children affected by the toxic water. For nearly a decade, bottled water was necessary for everyday life in Flint. The state of Michigan’s former governor, Rick Snyder, has been accused of knowingly allowing Flint to continue to receive toxic water and not doing anything to stop it.


More Things to Sip On…

Women are leading us out of the pandemic. Studies prove it.

After decades of cold cases, the Golden State Killer is finally convicted and sentenced.

Europe started to reopen to tourism. Now, it is closing again.


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Disclaimer
Visit our Disclosures section for additional information. All market information provided was collected in the afternoon of August 21, 2020. The purpose of NewsFlight is to summarize and make accessible information on a variety of topics within the world of investing and personal finance, and thus cannot be considered formal research or reports. All sources utilized to compile the NewsFlight newsletter are considered trustworthy by the FlexInvest team. FlexInvest is not affiliated with and does not receive remuneration from the news sources used to compile NewsFlight. As well, any images or logos incorporated into the NewsFlight newsletter are not necessarily property of FlexInvest and may solely be included to provide context for the news covered. NewsFlight should not be taken as advice to sell or buy securities or to make any investment. When investing in securities or other financial products, there is always the potential to lose money or asset value. FlexInvest recommends that its users consider their investment objectives and risks before investing. Additionally, any projections or analysis made by authors of NewsFlight cannot be considered as a promise of future trends or returns. Opinions expressed in News Flight are not representative of FlexInvest Inc.

All information provided was collected up to the last business day of the previous week of the release of this NewsFlight. The purpose of NewsFlight is to summarize and make accessible information on a variety of topics within the world of investing and personal finance, and thus cannot be considered formal research or reports. All sources utilized to compile the NewsFlight newsletter are considered trustworthy by the FlexInvest team. FlexInvest is not affiliated with and does not receive remuneration from the news sources used to compile NewsFlight. As well, any images or logos incorporated into the NewsFlight newsletter are not necessarily property of FlexInvest and may solely be included to provide context for the news covered. NewsFlight should not be taken as advice to sell or buy securities or to make any investment. When investing in securities or other financial products, there is always the potential to lose money or asset value. FlexInvest recommends that its users consider their investment objectives and risks before investing. Additionally, any projections or analysis made by authors of NewsFlight cannot be considered as a promise of future trends or returns. Opinions expressed in NewsFlight are not representative of FlexInvest.

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