1) The dreaded coronavirus seems to be on the rise again in Europe, with some European countries experiencing an increase of new cases, but this time with fewer deaths. This resurgence of recent weeks, has not forced as many people into medical wards as last spring. However, the increase of Convid-19 is widespread, unsettling people who hoped the worst was behind them. So far, the rise in cases is in France, Germany and Spain, with Spain hit particularly hard. Europe had just started their schools for the new academic year.
2) The E-commerce giant Amazon has just opened its first ‘shop-in-person’ grocery store under its own name. The new store in the Los Angeles suburb of Woodland Hills, is a traditional physical store open from 7 a.m. to 10 p.m. PST. But the store has lots of high-tech touches such as a new feature called Dash Cart which allows you to use Alexa. This allows the customer to create a shopping list in advance then be guided around the store to those items on the list. The store uses cashierless checkout, so there isn’t any line to wait in. The customer has the option of using their Amazon account and Prime membership to order and get free delivery. Amazon is soon opening additional stores in other cities.
3) One of the most powerful storms to ever hit the US Gulf Coast, Hurricane Laura has left the usual damage and destruction, but having missed the Houston and New Orleans areas, caused far less damage than it could have. The death toll was six people and monetary damages are estimated to be between $8 billion and $12 billion dollars, most of the loss in Louisiana with only about $500 million dollars in Texas. The total economic cost from damaged structures and closed businesses is estimated to be about $20 billion dollars.
4) Stock market closings for – 28 AUG 20:
Dow 28,653.87 up 161.60
Nasdaq 11,695.63 up 70.30
S&P 500 3,508.01 up 23.46
10 Year Yield: down at 0.73%
Oil: down at $42.93