How the Nasdaq and tech stocks became the winner on election night

first_imgThere might not have been a winner in the presidential election on Tuesday night, but there was a winner in the financial markets: the Nasdaq 100 and tech stocks broadly.Futures contracts tied to the Nasdaq 100 index jumped as much as 4% in overnight trading on Tuesday amid a volatile trading session that saw Dow futures register a nearly 800-point swing from high to low. Through the whipsaws, the Nasdaq 100 remained the relative outperformer. – Advertisement – – Advertisement –center_img The logo of Apple company is seen outside an Apple store in Bordeaux, France, March 22, 2019.Regis Duvignau | Reuterslast_img

The President Versus Democracy – The New York Times

first_imgEasy cookingThis chicken Marsala is easy to make thanks to a quick sauce of mushrooms and shallots. Serve it over some linguine or with roast potatoes.A gripping new showThe latest hit Netflix series is about chess. Set in the 1950s and ’60s, “The Queen’s Gambit” follows a prodigy from an orphanage as she becomes an elite player. Adapted from a 1983 novel, the series depicts a world that’s both glamorous and wrenching, as Beth — played by Anya Taylor-Joy — excels in a male-dominated sport while struggling with addiction.“If you did it as a movie, it becomes a sports movie: ‘Is she going to beat the Russian guy?’” Scott Frank, the series co-creator, told The Times. “And that’s not what the book is about. For me, it’s about the pain and cost of being so gifted.” Subscribers make our reporting possible, so we can help you make sense of the moment. If you’re not a subscriber, please consider becoming one today.PLAY, WATCH, EAT, CHESS In the simplest terms, the president of the United States is attacking American democracy in an effort to remain in office.For more: Dahlia Lithwick, Slate: “We are as confounded today about the lies as we were in 2016. We ignore them at the peril of democracy; we engage with them at the peril of our sanity.”- Advertisement – A sitting president has spent months telling lies about non-existent voter fraud. Now that his re-election bid is in deep trouble — but with the outcome still uncertain — he has unleashed a new torrent of falsehoods claiming that the other side cheated. He has demanded the Supreme Court intervene to decide the election in his favor. His supporters are staging protests in Arizona, Michigan, Nevada and Pennsylvania meant to interfere with legitimate vote counting. In Phoenix, some have showed up at the State Capitol with guns (as you can see in this short video taken by my colleague Simon Romero).The worst democratic outcome — in which judges appointed by the president’s political party intervene to overrule the apparent will of voters — seems likely to be avoided. The Supreme Court has shown no signs of halting vote counts, and Joe Biden’s leads in the decisive states may end up being large enough to avoid the election hinging on the sort of ballot-counting minutiae (like hanging chads) that decided the 2000 result in Florida.- Advertisement – – Advertisement – This is a dark and dangerous moment for American democracy.- Advertisement – Want to get The Morning by email? Here’s the sign-up.Good morning. Biden’s position remains strong, and Trump tries to stop vote counting.center_img Lives Lived: Three decades after becoming the first Black student body president at Penn State University, H. Jesse Arnelle helped start one of the first minority-owned corporate law firms in the United States. “It was an audacious plan,” Arnelle told The New Yorker in 1993. He died at 86. Morning Reads The pangrams from yesterday’s Spelling Bee were archival, archrival and chivalric. Today’s puzzle is above — or you can play online if you have a Games subscription.Here’s today’s Mini Crossword, and a clue: Snowman’s neckwear (five letters).Thanks for spending part of your morning with The Times. See you tomorrow. — DavidP.S. The word “reshook” — about Election Day’s twists and turns — appeared for the first time in The Times yesterday, as noted by the Twitter bot @NYT_first_said. Susan Glasser, The New Yorker: “There have been many times, over the past four years, that covering Trump’s Washington felt like a foreign assignment to me, never more so than while driving around the capital these past few days and seeing boarded-up storefronts and streets cordoned off for blocks around the White House, in anticipation of unprecedented post-election violence. I have seen such scenes before, in places like Azerbaijan and Russia. This is Trump’s America. It is not the America I have known.”Steve Vladeck, University of Texas law professor: “For anyone complaining about the ‘late’ shift in totals toward Democrats in MI, PA, and WI, most of those votes actually came in *first.*” But Republican-controlled state legislatures refused to allow the counting of mail ballots as they arrived.Nicholas Kristof, a Times Op-Ed columnist: “If Biden wins after this poisoning of the chalice, he will inherit a badly divided country after an election that many will deem illegitimate, and it will be harder to govern and more difficult for the United States to exert influence around the world.” But President Trump’s actions are still causing significant damage. They undermine his supporters’ faith in the country’s government. They also undermine the credibility of the United States around the world. And they force election officials, journalists and social-media platforms to choose between telling the truth and sounding nonpartisan; it is impossible to do both about Trump’s election claims.last_img read more

Virus cases top nine million as WHO says pandemic ‘accelerating’

first_imgSports stars tumble The sporting world has been reemerging from the darkness, although for every step forward it seems to take one back. Japan announced that up to 5,000 fans would be able to attend football and baseball games from July 10 but the presence of fans at other sporting events, notably in the Balkans, appears to have caused problems. Five players from Serbian club Red Star Belgrade tested positive for coronavirus after playing a match attended by 16,000 people, the club said on Monday. ‘Very limited’ haj Saudi Arabia announced it would allow a “very limited” number of pilgrims to its annual haj ritual, which last year drew 2.5 million pilgrims from around the world.The haj, one of the five pillars of Islam and a must for able-bodied Muslims at least once in their lifetime, represents a potentially major source of contagion. The authorities on Monday said a haj only involving pilgrims already in the kingdom would be permitted.In Europe, countries continued to ease their lockdown restrictions. Thousands of French danced and partied well into Monday for an annual music festival, in the first big blowout since the lockdown.Revelers packed the streets of Paris, most shunning masks and social distancing, to enjoy concerts in cafes and on street corners. Although there were none of the usual extravaganzas, many felt the authorities were too lax.”This is not what a gradual end to the lockdown looks like,” said Dr Gilbert Deray.”I understand that the Festival of Music is something of a liberation, but did we really have to have it this year?”Swimming pools and cinemas also reopened on Monday while children up to the age of 15 returned to school, attendance once again becoming compulsory. But illustrating the persisting risks, Portugal Prime Minister Antonio Costa said restrictions on gatherings of more than 10 people would be reimposed and cafes and shops ordered to close at 8:00 pm in Lisbon.Australians were warned on Monday to avoid travelling to Melbourne, as the second-biggest city tightened restrictions over fears of an upsurge in cases.China, Germany and Japan are also battling new outbreaks with some reintroducing containment measures.The spike in infections increased nervousness in global markets, which mostly fell on Monday on news of a worrying jump in fresh cases in several US states including California, Texas and Florida. German airline group Lufthansa, meanwhile, says it has backup plans ready in case shareholders reject a nine-billion-euro ($10.1 billion) pandemic rescue plan agreed with the state. Brazilian President Jair Bolsonaro has repeatedly played down the threat, comparing the virus to a “little flu” and arguing the economic impact of shutdowns is worse than the virus itself.Brazil is the second worst-affected country behind the United States, where the number of deaths topped 120,000 on Monday and political infighting has prevented a unified policy. Mexico, Peru and Chile are also coping with severe crises — Mexico City being forced to delay plans for a broad reopening of the economy as the country’s death toll raced past 20,000.With a vaccine still far away, the WHO has called for a rapid increase in production of the steroid dexamethasone, which has been shown to have life-saving potential for critically ill patients. And there are fears of new clusters in Melbourne and Lisbon as well as renewed outbreaks in Beijing and other parts of Asia.”The pandemic is still accelerating,” WHO’s director general Tedros Adhanom Ghebreyesus told a virtual health forum organized by Dubai in the United Arab Emirates.Tedros said the greatest threat facing the world was not the virus itself, which has now killed over 465,000 people and infected nine million, but “the lack of global solidarity and global leadership.” “We cannot defeat this pandemic with a divided world,” he said. “The politicization of the pandemic has exacerbated it.”center_img Global coronavirus infections topped nine million on Monday as the World Health Organization warned that the pandemic was accelerating and Saudi Arabia said it would allow a “very limited” number of pilgrims to the haj next month.France took its biggest step yet back to normality by allowing millions of children to return to school.But despite Europe further easing lockdowns, cases are still rising around the world, especially in Latin America with Brazil now registering more than 50,000 deaths. Topics :last_img read more

PHOTOS: Diego Simeone thumps assistant in fit of rage on touchline

first_imgDiego Simeone could hardly control himself in the tense final minutes of Atletico Madrid’s Champions League match against Bayern Munich.Okay, forget that, he couldn’t control himself at all.Into injury time, with Atletico leading by the slenderest of margins thanks to Antoine Griezmann’s away goal (a margin that would be enough to take them into the Champions League final), Simeone wanted to bring on Stefan Savic to help kill the game.Unfortunately, though, one of his assistants clearly wasn’t following his instructions properly as he helped out the official on the touchline – so Simeone gave him a good whack.Here’s how the scene unfolded… Simeone spots something he doesnt likeHe winds upAnd then shoves his colleague on the arm, leaving the assistant looking bemused–Follow Joy Sports on Twitter: @JoySportsGH. Our hashtag is #JoySportslast_img read more