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With bank earnings, Apple’s iPhone event, and the start of Amazon Prime Day on the schedule, Tuesday promised fireworks for the stock market. Instead, they delivered yawns as investors wrestled with continued Covid headlines and no stimulus.

The

S&P 500

finished down 0.6%, while the

Dow Jones Industrial Average

declined 157.71 points, or 0.6%, and the

Nasdaq Composite

dipped 0.1%. Yes, it was a down day, but not a big one.

“Stocks remained remarkably stable in the face of the scary COVID headlines and the global risk selloff, and this relative strength is even more impressive due to the lack of a stimulus deal,” writes Gorilla Trades strategist Ken Berman.

The same can’t be said for the companies that were making news.

Apple,

for instance, dropped 2.7% after releasing the details of its new iPhones. They were nice, but not exciting enough for a stock that had

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By Stephen Culp

NEW YORK (Reuters) – International stocks rose on Friday, with all three major Wall Street indexes posting weekly gains as investors grew more hopeful the U.S. government would provide additional economic stimulus.

Gold jumped and the dollar dropped as investors focused on the probability of forthcoming U.S. coronavirus relief.

Wrangling in Washington over pandemic aid has dominated global markets this week, and although U.S. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin failed to hammer out a deal, talks will continue despite Republican doubts.

Trump said in an interview on Friday that he wants to see a bigger stimulus package than either Democrats or Republicans were offering, a reversal from his threats at the beginning of the week that he would halt negotiations.

“We’re in one of those periods where Washington is driving Wall Street, be it either the presidential election or fiscal stimulus and today

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Shares of Aflac Inc. AFL have exhibited a downtrend so far this year due to macroeconomic volatility, induced by the coronavirus as well as operational issues in its Japan business, which  contributed nearly 70% to the company’s revenues in 2019.

Year to date, the stock has lost 27.7% compared with its industry’s decline of 23.7%.

What’s Dragging the Stock?

The company’s Japan business has been under pressure from the past year after its largest sales channel in the east Asian country named Japan Post was found guilty in August 2019 of inappropriately selling cancer insurance policies. During the second quarter of 2020, Aflac Japan suffered a sales decline of 58.1% from the figure registered in the second quarter of 2019 due to both pandemic adversities and the continued impact of the Japan Post investigation.

Aflac U.S. policy sales, enrollment and agent recruiting functions are highly dependent on face-to-face interactions between

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(Bloomberg) — Global stocks headed toward their best weekly gain since July and U.S. futures also climbed as European companies boosted guidance and the White House suddenly signaled an openness to large-scale stimulus.

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Shares rose in Europe on a host of companies raising outlooks, from Denmark’s drugmaker Novo Nordisk and jewelry producer Pandora to German online clothing retailer Zalando. Property firm British Land Co. gained on reinstating its dividend. Stocks underperformed in Spain, where the government is weighing a state of emergency for the capital to control the spread of Covid-19.

Italy’s 10-year bond yield fell to a record low amid fading domestic political risks and central-bank support. S&P 500 contracts rose following reports Treasury Secretary Steven Mnuchin told Nancy Pelosi that President Donald Trump wants agreement on a comprehensive aid package. Treasuries gained and the dollar retreated.



chart: MSCI gauge of global equities heads for best week since early July


© Bloomberg
MSCI gauge of global equities heads for best

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The next Davos will not be in Davos. 

The World Economic Forum, whose base in the Swiss Alpine ski resort has become shorthand for its annual meetings each January, had already told the executives, environmentalists and world leaders who usually attend that Covid-19 had forced it to push back its next event to May 2021.

On Wednesday the organisation disclosed that it would also move its meetings to a lower altitude setting.

The WEF, founded by Klaus Schwab 50 years ago, has chosen two sites on opposite sides of Lake Lucerne, between which dignitaries willing to resume face-to-face networking will shuttle by boat and funicular railway. 

Big public meetings will take place at KKL Luzern, the Lucerne Culture and Congress Centre in the town. Smaller workshops will be at Bürgenstock Resort, a 383-room hotel and spa 500 metres above the lake which bills itself as “compact and secure” and was

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Ken Griffin, the billionaire founder and CEO of the Chicago-based Citadel hedge fund and investment firm, put another $26.7 million into the campaign against billionaire Democratic Gov. J.B. Pritzker’s ballot proposal to shift the state from a flat-rate income tax to a graduated tax with rates that increase with income.



Ken Griffin wearing a suit and tie standing in front of a building: Ken Griffin, the founder and CEO of Citadel, in 2014.


© E. Jason Wambsgans/Chicago Tribune/TNS/Chicago Tribune/TNS
Ken Griffin, the founder and CEO of Citadel, in 2014.

With Griffin’s latest investment, he has now given $46.75 million of the approximately $48.1 million million that has been received by the Coalition to Stop the Proposed Tax Hike Amendment. In August, Griffin gave the group $20 million.

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Griffin and Pritzker are the main funding sources of the campaigns for and against the proposal asking voters to change the state’s constitution to replace Illinois’ current flat-rate income tax with a graduated-rate tax. Pritzker, an heir to the Hyatt Hotel fortune, has given

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Usually when passengers find themselves sitting on a grounded commercial airplane, reactions range from impatience to downright anger.

But these are not usual times.

That’s one of several activities that Singapore Airlines is launching instead of what media reports have dubbed “flights to nowhere.”

The airline announced this week it was abandoning plans for destination-less flights — which were to take off and land at Singapore’s Changi Airport — in favor of ground-based activities designed to relive the feeling of air travel.

Three new ideas

Singapore Airlines is debuting three activities that replicate elements of flying — but without actually flying anywhere.

On Oct. 24 and 25, the airline will let customers dine inside an A380 double-decker superjumbo “restaurant.” Customers can eat Singapore Airlines dishes while watching movies on the plane’s in-flight entertainment system.

Bookings are $50 Singapore dollars ($37) to dine in economy class, SGD$300 ($220) for business class

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Usually when passengers find themselves sitting on a grounded commercial airplane, reactions range from impatience to downright anger. 

But these are not usual times.

That’s one of several activities that Singapore Airlines is launching instead of what media reports have dubbed “flights to nowhere.”

The airline announced this week it was abandoning plans for destination-less flights — which were to take off and land at Singapore’s Changi Airport —  in favor of ground-based activities designed to relive the feeling of air travel. 

Three new ideas

Singapore Airlines is debuting three activities that replicate elements of flying — but without actually flying anywhere. 

On Oct. 24 and 25, the airline will let customers dine inside an A380 double-decker superjumbo “restaurant.” Customers can eat Singapore Airlines dishes while watching movies on the plane’s in-flight entertainment system.

Bookings are $50 Singapore dollars ($37) to dine in economy class, SGD$300 ($220) for business class

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TOKYO, Sept 30 (Reuters)Oil prices fell for a second day on Wednesday, extending big losses from the previous session amid rising concerns about fuel demand as the coronavirus pandemic worsens.

Brent crude LCOc1 dropped 23 cents, or 0.6%, to $41.03 per barrel by 0048 GMT. West Texas Intermediate CLc1 fell 26 cents, or 0.7%, to $39.29.

The benchmarks fell more than 3% on Tuesday as global COVID-19 cases passed 1 million, having doubled in three months.

“It is important to keep in mind that moves to the downside have the potential to be supersized,” given rising coronavirus cases and increasing oil supplies around the world, said Bob Yawger, director of energy futures at Mizuho in New York.

CEOs of the world’s biggest trading companies are forecasting a weak recovery for oil demand and little movement in prices in the coming months and potentially years.

Weighing heavily on markets

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Apple is waiving the customary 30% fee it charges businesses that sell tickets to online events in the company’s App Store for the rest of the year.

Apple suspended the fee to give businesses affected by the coronavirus pandemic more time to adapt to operating almost entirely online, a spokesman told CNBC. App store developers such as Airbnb, the home-rental company, has expressed interest in holding more events online, the Wall Street Journal reported.

Earlier this week, Apple agreed to exempt Facebook events from the 30% fee. This summer, the social media company introduced paid online events as a way for small businesses to make some money. Facebook said it would not be taking a cut of event fees until August 2021. Apple’s suspension of its 30% fee means that sellers of online events will be able to keep all their earnings, minus taxes. 

Apple expanded the fee suspension on

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