Day in Review: Sept 3, 2020

A daily recap of major events and headlines affecting the market with individual investors in mind.

  • US Stock Market Stock Tumble and the VIX surges Rising Above 35%
  • Money managers see profit-taking in Thursday’s ‘healthy pullback’
  • Tech-led sell-off is part of a healthy correction as it blows off some excessive speculation
  • Johnson & Johnson says coronavirus vaccine prevents severe illness in hamsters
  • Gov. Cuomo gives New York City malls green light to reopen but holds back on indoor dining
  • On Thursday, Novavax published positive trial data, saying that its coronavirus vaccine candidate was safe and elected an immune response. This come as Sanofi and GlaxoSmithKline announced that they would start phase 1/2 of their adjuvanted vaccine. Yahoo Finances Anjalee Khemlani breaks down the latest news about the coronavirus on The Final Round.
  • Service sector activity in the U.S. saw continued growth in the month of August, according to a report released by the Institute for Supply Management on Thursday, although the pace of growth slowed modestly.
  • Spike In U.S. Labor Productivity Upwardly Revised To 10.1% In Q2. Revised data released by the Labor Department on Thursday showed U.S. labor productivity soared by even more than initially estimated in the second quarter. The report said labor productivity skyrocketed by 10.1 percent in the second quarter compared to the previously reported 7.3 percent spike.
  • Trump will roll back more environmental regulations if re-elected, says EPA chief. After three years in office, the Trump administration is reversing more than 100 major climate and environmental rules that it’s deemed burdensome to the fossil fuel industry, even as climate change accelerates.
  • U.S. productivity rises a record 10.1% in the second quarter. U.S. productivity rose at a 10.1% rate in the second quarter as the number of hours worked declined by the largest amount since the government started compiling the data more than 70 years ago.