Today’s mood – Marking time

Published on 13-08-2020 13:09:16

It’s a day of reckoning for A-level results, US jobless figures and the sizzling weather, but we don’t yet know all the scores and the FTSE 100 is marking time amid the uncertainty.

Some results are positive, with the S&P 500 briefly touching a record high and Asian indices mostly erasing this year’s losses.

However, there are worries about an imminent downgrade, with the ‘Buffett indicator’ flashing red and Soros explaining why he’s stopped participating in the US markets bubble.

The US is refusing to mark down European tariffs in a continuing row over state Airbus subsidies. And COVID-19 figures are marching on everywhere except England, due to a change in the calculation method. The imposition of price controls on funeral services is being delayed.

Edison client Ergomed has increased revenues and demonstrated resilience through COVID-19. But other corporate results are showing profit markdowns for TUI, Carlsberg and GVC – though Edison director Neil Shah applauds National Express’s swift action to strengthen its balance sheet.

Time is up for Wirecard on Germany’s flagship stock market index, for once-sacred Disney businesses and for some US banking bonuses.

There’s also no future for mosquitos on Mississippi’s new flag. China’s days as the factory of the world are apparently over. Operation Empty Plate is waging war on food waste and customers are biding their time on returning to the UK’s struggling bars and restaurants.

Still, you can always rely on Swiss watches and if you get caught short in the Scottish Highlands, you no longer have to bring your own trowel.

Until tomorrow,

The Stream team

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