Mood: A little damp

Published on 08-07-2020 13:18:47

As UK markets are dampened  while we wait for Rishi’s summer mini-budget, England cricket’s first COVID-19 test is also at risk of ‘a little rain’.

There’s more than Scotch mist on the domestically focused FTSE 250 and most major Asian indices are experiencing drizzle too as second wave fears mount.

Lockdown is showering unrest in Belgrade, while US infections now top three millionAnother 80,000 US COVID-19 deaths are expected before November, but some challenge Trump’s claim that his pandemic aid has saved 51 million jobs.

It’s much sunnier in China, with the CSI 300 up again and Morgan Stanley tipping it to nearly reach 2015 levels.

But in Britain, it’s all about jobs as Rishi rains on youth unemployment with his £2bn temporary job creation scheme announced as up to 2,200 logistics jobs could go at Jaguar Land Rover factories.

Boohoo is calling in umpires to investigate after losing a third of its value in two days and being shunned by online retail bellwethers. Bus and trains operator FirstGroup is not even sure it can continue as a going concern.

Continuing the weather theme, we have new research on Hurricane Energy after its 8% fall in second-quarter oil production. Usain Bolt is naming his daughter Olympia Lightning and books by Trump’s niece and whistle-blower Edward Snowden threaten separate storms in the US.

The FBI’s head has made a thunderous speech claiming that China has probably stolen the personal data of all Americans. Trump is also blaming China for the US withdrawal from the WHO.

But the weather doesn’t matter much if you have a Tesla, which hit a new high for the fifth consecutive session. Warren Buffett also seems to be going against seasoned advice with almost half of Berkshire Hathaway’s portfolio now comprising a single stock.

At least the rain might wash away pesticides, which environmentalists want halved to save insects and it’s probably better than perilously going within 1.34m of a penguin.

If that doesn’t bring some summer weather cheer, you can discover how to suck carbon out of thin air to make tiles. And if rain does stop play, you can watch a cow sing a duet with a human being.

Until tomorrow

The Stream Team

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