Thursday, September 24, 2020

LATEST NEWS

MARKETS

FAANG Stocks Apple, Amazon, Netflix, Alphabet, Lead Broad Wednesday Selloff

The air keeps coming out of the tires.  A market that rode hard all summer on the FAANGs and semiconductors is making a loud hissing noise as those high-flyers lose traction.  All summer, investors heard warnings that if Tech’s party settled down, the broader market would take a hit. September reminds us of that as it appears on track to be the first losing month since March and the worst month of September in 18 years.  The FAANGs played serious defense Wednesday in the second of three sessions this week where Tech spent most of the day dragging everything else down. The Tech weakness was joined by a rout in the Energy sector, where companies staggered amid worries about shutdowns in Europe and other places dragging on demand.  One possible source of pressure on Tech came from the Justice Department planning to submit a proposal to Congress to curb long-standing legal protections for internet companies and force them to shoulder more responsibility for managing content on their sites, The Wall Street Journal reported.  The congressional action—combined with natural hesitation to keep buying after the run Tech has had—helped trigger selling, and the selling fed on itself as Tech stocks continued to race lower throughout the day. Apple Inc. (NASDAQ: AAPL), Amazon.com, Inc. (NASDAQ: AMZN), and Microsoft Corporation (NASDAQ: MSFT) were poster children for the damage. When you see a mega-cap like MSFT fall 3.5% in a session, it tells you a lot of things combined to hurt the sector.  As Tech Falls Out Of Favor, No One Comes To Take Its Place Often in the recent past when Tech was down, investors found other parts of the market to rotate into. It seemed like today there just wasn’t much interest in doing that. The Financials had a tough day, turning completely around after a strong open. The Cboe Volatility Index (VIX) flirted with 30 as market fears climbed the ladder. There just weren’t a lot of bright spots in the market. Technically, it feels like the S&P 500 Index (SPX) might be in the process of testing support levels between 3212 and 3259, but it may ultimately challenge its 200-day moving average down around 3100 before getting back on firmer footing, wrote CFRA analyst Sam Stovall in a note today.  Maybe there’s some comfort in the fact that the SPX did manage to close above the lows for its recent downturn, but it didn’t miss those by much. It remains just above an official 10% correction from its recent all-time highs.  At the same time, the Nasdaq (COMP) showed no sign of a late comeback like investors saw last week and Monday. Those rebounds in the last hour of the day had brought hope going into the next session. That’s not the case going into Thursday, when investors will probably focus immediately on weekly initial unemployment claims due just before the open. Wall Street consensus is for a reading of 825,000, Briefing.com reported, down from 860,000 a week earlier. If there’s a positive surprise in the data, that could conceivably help arrest the slide.  Another thing that would help but doesn’t seem very likely is action from Congress on a fiscal stimulus. Some of this week’s heaviness in the market could be connected to the fact that Washington, D.C., remains “conflict central,” and of course, coronavirus concerns. Crude Steps Back, But Dollar Steps Up Meanwhile, crude’s brief rally back above $40 a barrel last week is fading into memory as U.S. prices fell back toward $39. A spate of supply worries last week didn’t seem to last, and the virus-related shutdowns in England and other parts of the world have people concerned about falling gasoline and jet fuel usage.  If investors are pulling money out of Tech and not rolling it into any other sector, where is it going? Not necessarily into bonds, which have been steady all week, or into gold, which has been losing ground. So could it be the dollar? Maybe. The dollar index rose above 94 on Wednesday and has generally been moving up all week. Sometimes a stronger dollar is a good thing because it reflects confidence in the U.S. economy. Other times, like when things fell out of bed last March and the dollar rose above 100, it wasn’t so good because it indicated to some analysts that people felt most comfortable moving investments to cash. This is typically a sign of fear. Bumps And Bruises Persist Anyone hoping things might smooth out a little in the coming days might be in for disappointment. Wednesday’s quick shift from bright sun at the open to dark clouds an hour later was only the latest evidence that this market can shift on a dime. For some of the unsteadiness, feel free to blame the virus, which has made things so unpredictable almost all year. As long as cases keep growing, there’s no reason to think this won’t keep being a choppy market. Coronavirus overshadows everything right now. There’s no end date for that, and no one knows when we’ll get a resolution to that. One medical expert quoted in the media compared virus outbreaks to the forest fires out West. New ones keep cropping up even while old ones get put out, and no one is sure where the next one will start.  If you’re a long-term investor, this whole year has been another reminder of why it might be best not to focus on all the noise and stop worrying so much about day-to-day moves. Doing that can make you more prone to make trades out of fear. Eventually, we’ll hopefully be on the other side of this. In the meantime, investors should consider sticking with their plans. CHART OF THE DAY:  HUMPDAY SLUMPDAY. After hovering below its 50-day moving average (blue line), the S&P 500 Index (SPX—candlestick) slumped today with the index moving towards its 100-day moving average (purple line), which right now is at 3197. But the 200-day moving average (yellow line), which is now at 3105, may be a more realistic support level to watch. Data source: S&P Dow Jones Indices. Chart source: The thinkorswim® platform from TD Ameritrade. For illustrative purposes only. Past performance does not guarantee future results.  TD Ameritrade® commentary for educational purposes only. Member SIPC. Photo by Jason Briscoe on Unsplash © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

FINANCE

Schlumberger, IBM And Red Hat Announce Major Hybrid Cloud Collaboration For...

LONDON, ARMONK, N.Y. and RALEIGH, N.C., Sept. 8, 2020 /PRNewswire/ -- Schlumberger, IBM (NYSE: IBM) and Red Hat, announced today a collaboration to accelerate digital transformation across the oil and gas industry. The joint initiative will provide global access to Schlumberger's leading exploration and production (E&P) cloud-based environment and cognitive applications by leveraging IBM's hybrid cloud technology, built on the Red Hat OpenShift container platform.  Collaborative development will initially focus on two key areas: Continue Reading Schlumberger, IBM and Red Hat Announce Major Hybrid Cloud Collaboration for the Energy Industry Private, hybrid or multi-cloud deployment of the DELFI* cognitive E&P environment enabled by Red Hat OpenShift to significantly expand access for customers. Delivering the first hybrid cloud implementation of the OSDU™ data platform (the open data platform for the industry). Through the agreement with IBM and Red Hat, Schlumberger has committed to the exclusive use of Red Hat OpenShift. Using the container platform will enable the deployment of applications in the DELFI environment across any infrastructure, from traditional data centers to multiple clouds, including private and public. This new way of hosting will offer the possibility to use multiple cloud providers and will address critical issues for customers, facilitating in-country deployments in compliance with local regulations and data residency requirements. The DELFI environment incorporates cutting-edge data analytics and artificial intelligence, drawing upon multiple data sources, automating workflows, and facilitating seamless collaboration for domain teams. Many more oil and gas operators, suppliers and partners, from all regions of the world will be enabled to work from the industry's leading digital environment—built on a standard, open platform—where they can 'write once and run everywhere' when creating new applications. "By expanding market access to the DELFI environment we take a major step forward on the journey to establishing the open and flexible digital environment our industry needs," comments Olivier Le Peuch, chief executive officer, Schlumberger. "Our collaboration with IBM and Red Hat complements our established digital partnerships to produce an industry-first solution to overcome our customers' challenges. Together, we are enabling seamless access to a hybrid cloud platform in all countries across the globe for deployment in any basin, for any operator." "The logic, purpose, and differentiation of all businesses can now be rendered in code, which is why digital innovation has become the most powerful way to drive transformation and hybrid cloud is the lever that unleashes it," said Arvind Krishna, chief executive officer, IBM. "Together with Schlumberger, we are empowering a much broader group of participants to play a role in driving that transformation and helping the energy industry solve some of the world's toughest challenges to emerge stronger." "The energy industry is transforming as organizations look for efficient new ways to power their operations, adopt digital technologies to create a competitive advantage, and innovate and integrate workflows to make faster and better decisions," said Paul Cormier, president and chief executive officer, Red Hat. "A hybrid cloud foundation built on open source offers the flexibility, acceleration and innovation this digital transformation requires. Schlumberger has long been an industry leader and is bold in its vision for digital transformation in the energy industry. We look forward to working closely with Schlumberger to make the DELFI environment available everywhere with Red Hat OpenShift."  Schlumberger supports many of the world's most vital oil and gas operations and is on the forefront of digitalization across the energy sector. It has established the DELFI environment as the industry-leading cognitive E&P environment where today energy professionals access open APIs to work together, independent of role, workflow or physical location, and create solutions that significantly improve business operations. The organizations intend to further their collaboration with the creation of a differentiated data management and operations solution for the OSDU™ data platform, enabling oil and gas operators to build, deploy and transition digital solutions with hybrid-cloud data infrastructures. This will foster wider collaboration and greater efficiency across many professionals in the E&P value chain. Prior to this announcement, Schlumberger, IBM and Red Hat successfully piloted the new hybrid cloud deployment of the DELFI environment on Red Hat OpenShift, the leading Kubernetes platform, working with Red Hat and IBM Services, the world's largest team of Red Hat certified consultants. The two organizations focused on demonstrating the flexibility and portability for compute, storage and data intensive exploration and field development applications. IBM's collaboration with Schlumberger is part of the company's new commitment to invest in accelerating adoption of hybrid cloud and open architectures. IBM is targeting essential industries, such as energy, running the crucial processes of the world. These efforts are increasing in importance as organizations navigate the impacts of the pandemic and economic downturn, which is creating an acute need for speed to market, flexibility and nimbleness to encourage innovation. About SchlumbergerSchlumberger is the world's leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. With product sales and services in more than 120 countries and employing approximately 85,000 people as of the end of the second quarter of 2020 who represent over 170 nationalities, Schlumberger supplies the industry's most comprehensive range of products and services, from exploration through production, and integrated pore-to-pipeline solutions that optimize hydrocarbon recovery to deliver reservoir performance sustainably. Schlumberger Limited has executive offices in Paris, Houston, London, and The Hague, and reported revenues of $32.92 billion in 2019. For more information, visit www.slb.com. About Red HatRed Hat is the world's leading provider of enterprise open source software solutions, using a community-powered approach to deliver reliable and high-performing Linux, hybrid cloud, container, and Kubernetes technologies. Red Hat helps customers integrate new and existing IT applications, develop cloud-native applications, standardize on our industry-leading operating system, and automate, secure, and manage complex environments. Award-winning support, training, and consulting services make Red Hat a trusted adviser to the Fortune 500. As a strategic partner to cloud providers, system integrators, application vendors, customers, and open source communities, Red Hat can help organizations prepare for the digital future. About IBMIBM combines technology with industry expertise to help Oil & Gas clients digitally reinvent their businesses for resilience and sustainability. Pioneering advances in materials science from IBM Research accelerate energy transition. Data science and AI take the guesswork out of exploration. Predictive asset management raises production throughput. Supply chain insights and blockchain build trust and transparency across the downstream ecosystem. Customer experience experts reshape consumer connections at the gas pump or electric charge station. Through these solutions IBM helps Oil & Gas clients emerge smarter. For further information visit:  https://www.ibm.com/industries/oil-gas *Mark of Schlumberger. For further information, contact: MediaMoira Duff Corporate Communication Manager, Schlumberger Limited Office: +1 (713) 375-3494[email protected] Sarah Meron IBM Vice President, Corporate Communications Office: +1 (914) 499-6435[email protected] SOURCE IBM Related Links http://www.ibm.com

TECHNOLOGY

イートンのTwin Vortices Seriesが水素燃料電池モジュールのピーク効率での動作を支援

米ミシガン州ゲールズバーグ--(BUSINESS WIRE)--(ビジネスワイヤ) -- パワー・マネジメント企業のイートンは本日、当社のTwin Vortices Series(TVS®)技術が、水素燃料電池モジュールで不可欠な要素であることが実証されたと発表しました。水素燃料電池モジュールは、TVSユニットが提供する精密な気流制御によって、ピーク効率での動作が可能になります。電気駆動のTVS燃料電池ブロワーが、正確かつ高速な空気制御を提供し、過渡的な負荷サイクルで燃料電池電圧の迅速な制御を実現します。 イートンのTVS技術は、過給内燃機関での応用が輸送業界全体で知られていますが、若干の改良を行うことで、燃料電池にとって理想的なユニットになりました。 燃料電池スタックを効率的に動作させるには、空気と水素の流れを正確に制御する必要があります。燃料電池は、正極(カソード)と負極(アノード)の間で層状になっている陽子交換膜によって構成されています。水素がアノードに取り込まれ、周囲の空気中の酸素がカソードに取り込まれます。そして、燃料電池触媒の電気化学反応によって、水素分子が陽子と電子に分解され、陽子は膜を通ってカソードへと移動します。 陽子交換膜の層数によって各スタックの出力が決まるため、電池のスタック数が多いほど出力が高くなります。 TVSスーパーチャージャーとは異なり、TVS燃料電池ブロワーは筐体で覆われています。そして、300〜450ボルトの直流で作動する電気モーターに直接取り付けられており、プーリーやフロントカバーはありません。電気モーターは、毎分1万4000回転未満で動作するように較正できます。この技術は、広範なポンプ容量に合わせて拡張可能であり、個々の顧客の仕様に合わせて適応させることができます。 イートンはすでに、水素燃料バスでの使用向けにTVSユニットを数社の顧客に供給しており、今後生産量を増加させる計画です。TVS燃料電池プログラムの次のステップは、次世代燃料電池を実現するユニットを開発し、より大きな出力密度、圧力比、長い運転寿命、改善された騒音・振動・ハーシュネス(NVH)レベルを提供することです。 詳細情報は、イートンのTVS燃料電池技術でご覧いただけます。 イートンのミッションは、パワー・マネジメント技術とサービスを使用して生活の質と環境を改善することです。当社は、顧客による電気・油圧・機械式動力の効果的な管理を支援できる安全で効率的で信頼性のある持続可能なソリューションを提供しています。イートンの2019年の売上高は214億ドルで、175カ国を超えるお客さまに製品を販売しています。従業員数は約9万3000人です。詳細情報については、www.eaton.comをご覧ください。 本記者発表文の公式バージョンはオリジナル言語版です。翻訳言語版は、読者の便宜を図る目的で提供されたものであり、法的効力を持ちません。翻訳言語版を資料としてご利用になる際には、法的効力を有する唯一のバージョンであるオリジナル言語版と照らし合わせて頂くようお願い致します。

INSIGHTS

BANKING

PEOPLE

Up-And-Coming Latina Filmmaker Has Soft Launch For Her First Podcast

LOS ANGELES, Sept. 23, 2020 /PRNewswire-HISPANIC PR WIRE/ -- Shelly Ro, CEO of Cuyo Productions and award-winning filmmaker, co-hosts her first podcast, Las Moiras, with Laura Hurtado, which airs in Spanish on all podcast platforms starting Wednesday, Sept. 23. Las Moiras will host six weekly episodes per season every Wednesday at 1 p.m. PST. Each season is scheduled to premiere the first Wednesday after the first day of Fall, Winter, Spring and Summer. The podcast is streaming on Apple, Google, Spotify, and YouTube. In mythology, "Las Moiras" are the three goddesses tasked with the life and destiny of mortals, aka, the Fates. Each episode will be centered on a myth or legend, and be examined through modern, female eyes. Since there are only two "moiras," the third will be a special guest brought on each episode. "I am so excited that I could create a podcast about a topic that I am so passionate about. While discussing mythology is fun, I also hope to open people's minds to the idea that what we see on the screens may not be 100 percent accurate," said Ro. "I am thrilled that I can share my love and knowledge about mythology, and what better way to do so than with my incredible co-host, Shelly Ro," said Hurtado. Las Moiras focuses on the intersection between classic legends, and pop-culture. Ro and Hurtado will review films and TV shows based on their accuracy representing women on and off the screen.  "For people who aren't interested in mythology, they may watch a movie and accept the story and possible inaccurate portrayals of characters, especially of women and people of color," said Ro. Led by founder and CEO, Shelly Ro, Cuyo Productions is an American media production company based in Los Angeles that provides entertainment content for digital platforms, including productions of short films and feature films. Cuyo Productions is the vision of CEO Shelly Ro's desire to create an inclusive space to empower underrepresented groups to tell their story and share their perspective of the world. Ro is moving towards the ideals of artistic excellence, cultural openness, and social diversity.  FOR FURTHER CONTACT: Isabella McDonald-BrentPublicist, Cuyo Productions Phone: (818) 489-2978 Email: [email protected] Las MoirasWebsite: www.CuyoProductions.com Email: [email protected] Phone: (310) 900-9016 Instagram: instagram.com/lasmoiras Facebook: facebook.com/cuyoproductions Twitter: twitter.com/cuyoproductions Shelly RoEmail: [email protected] Instagram: instagram.com/shelllyro Facebook: facebook.com/shellyro Twitter: twitter.com/ShelllyRo Logo - https://mma.prnewswire.com/media/1232062/Cuyo_Productions_Logo.jpg SOURCE Cuyo Productions Related Links https://cuyoproductions.com/

OPINION

POLITICS

NIH Director Dr. Francis S. Collins to provide update on COVID-19...

WASHINGTON, Sept. 23, 2020 /PRNewswire/ -- Francis S. Collins, M.D., Ph.D., the 16th Director of the National Institutes of Health (NIH) will deliver brief remarks and engage in a virtual Q&A on the latest COVID-19 therapeutic and vaccine developments and how the agency is helping to promote research and engagement in communities hardest hit by COVID-19 at a National Press Club Virtual Newsmaker presentation on Monday, September 28 at 3:30 p.m. This one-hour program will stream live on the Club's website and YouTube Channel, and is accessible to both the media and members of the general public free-of-charge.  Viewers can send their questions for Dr. Collins in advance or during the live program via email to [email protected]. Appointed by former President Barack Obama in 2009 and selected by President Trump to continue to serve as NIH Director in the current administration, Dr. Collins oversees the work of the largest supporter of biomedical research in the world. Prior to his appointment, Dr. Collins, a physician-geneticist noted for his landmark discoveries of disease genes, served as director of the National Human Genome Research institute at NIH from 1993-2008, where he led the International Human Genome Project. Founded in 1908, the National Press Club is The World's Leading Professional Organization for Journalists™ with more than 3,000 members. The Club speaks out on press freedom issues and annually recognizes journalists at risk at home and abroad with the John Aubuchon Award for Press Freedom. PRESS CONTACT: Lindsay Underwood for the National Press Club; [email protected], (202) 662-7561 SOURCE National Press Club Related Links http://press.org

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