European Economics Preview: Germany Industrial Output Data Due

Industrial production from Germany and France are due on Friday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany’s industrial production data for June. Output is forecast to fall 0.3 percent month-on-month, reversing a 0.2 percent rise in May.

In the meantime, UK Halifax house price data is due. Economists expect house prices to grow 1.2 percent month-on-month in July, slower than the 1.8 percent increase in June.

At 2.45 am ET, France’s industrial production, current account and foreign trade figures are due. Production is seen falling by 0.2 percent on month in June after staying flat in May.

At 3.00 am ET, industrial production from Spain and Hungary and retail sales from the Czech Republic are due.

At 4.00 am ET, Italy’s Istat publishes industrial output figures for June. Economists forecast output to fall 0.2 percent in June from May, when production declined 1.1 percent.

At 8.00 am ET, Romania’s central bank announces its monetary policy decision. The bank is set to hike its key rate to 5.75 percent from 4.75 percent.

‘Five Days at Memorial’ Tells the Harrowing Story of a Deadly Choice

A new scripted series on Apple TV+ dramatizes the crisis faced by a New Orleans hospital after Hurricane Katrina, as the waters and the death toll rose.

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By Chris Vognar

U.S. Daily Covid Cases Cross 200K Mark Again

After a week, daily Covid-positive cases in the United States have again crossed the 200,000 mark.

With 220,566 new cases reported on Wednesday, the total number of people that have been infected with coronavirus in the country has risen to 92,562,436, as per Johns Hopkins University’s latest data.

962 additional deaths on the same day took the total U.S. Covid casualties to 1,035,549.

North Carolina reported the most number of cases – 30,782 while Georgia reported most deaths – 189.

Covid deaths have increased by 9 percent while cases decreased by 16 percent in the last two weeks, New York Times’ latest tally shows.

Nearly 43,000 people are currently in American hospitals with the coronavirus. Nearly 50,00 of these patients are admitted in intensive care units.

89,403,777 people have so far recovered from the disease, the Worldometer tally shows.

3,598 additional deaths were reported globally on Wednesday, taking the total number of people who lost their lives due to the pandemic so far to 6,428,190.

Thirty-Year Bond Auction Attracts Modestly Below Average Demand

Finishing off this week’s series of announcements of the results of its long-term securities auctions, the Treasury Department revealed Thursday that this month’s auction of $21 billion worth of thirty-year bonds attracted modestly below average demand.

The thirty-year bond auction drew a high yield of 3.106 percent and a bid-to-cover ratio of 2.31.

Last month, the Treasury sold $19 billion worth of thirty-year bonds, drawing a high yield of 3.115 percent and a bid-to-cover ratio of 2.44.

The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.

The ten previous thirty-year bond auctions had an average bid-to-cover ratio of 2.34.

The Treasury revealed earlier this week that this month’s auctions of $42 billion worth of three-year notes and $35 billion worth of ten-year notes both attracted above average demand.

Earlier on Thursday, the Treasury also announced the details of this month’s twenty-year bond auction.

The Treasury said its plans to sell $15 billion worth of twenty-year bonds, with the results of the auction due to be announced next Wednesday.

Last month, the Treasury sold $14 billion worth of twenty-year bonds, attracting above average demand.

Resmed Inc Q4 sales increase

Resmed Inc (RMD) revealed a profit for fourth quarter of $195.1 million

The company’s bottom line came in at $195.1 million, or $1.33 per share. This compares with $195.1 million, or $1.33 per share, in last year’s fourth quarter.

Excluding items, Resmed Inc reported adjusted earnings of $271.5 million or $1.49 per share for the period.

The company’s revenue for the quarter rose 4.4% to $914.7 million from $876.1 million last year.

Resmed Inc earnings at a glance (GAAP) :

-Earnings (Q4): $195.1 Mln. vs. $195.1 Mln. last year.
-EPS (Q4): $1.33 vs. $1.33 last year.
-Revenue (Q4): $914.7 Mln vs. $876.1 Mln last year.

Opinion | Alex Jones and the Wellness-Conspiracy Industrial Complex

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By Farhad Manjoo

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How Much Watching Time Do You Have This Weekend?

Our TV critic recommends checking out a new comedy, a juicy finale and a returning teen rom-com.

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By Margaret Lyons