Strong gains for technology stocks send Wall Street higher

NEW YORK — Solid gains for technology stocks pushed Wall Street higher Monday, tacking more gains onto last week’s rally. The S&P 500 rose 1.6%. Big Tech companies including Apple and Amazon, whose businesses have been thriving despite the pandemic, led the way higher. Companies that depend more on broad growth in the economy didn’t rise as much. Investors are still waiting to see whether Washington can get past its partisan divide to deliver more support for the economy. This week also marks the start of earnings reporting season, when CEOs will detail how their companies fared from July through September.

THIS IS A BREAKING NEWS UPDATE: AP’s earlier story appears below.

Stocks are pushing higher on Wall Street in afternoon trading Monday and tacking more gains onto last week’s market rally, its best in three months.

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Why Is The Market So Strong And Economy So Weak?

The continuing strength of the stock market, even as the coronavirus pandemic batters the U.S. economy, has baffled many investors. The Dow Jones Industrial Index fell some 35% in 20 trading days the first three weeks of March as COVID-19 began spreading rapidly globally, but it has since gained nearly 60% to levels above 28,650. At the same time, the Commerce Department reported the U.S. economy shrank 31.7% in the April-June quarter. Part of our job at Equitas is to research many areas of the market and the economy, analyze the current environment, and to search for the investment opportunities. While there are numerous views and theories, in this KnowRisk Report we explore and expand on why the stock market is so strong, while the economy is so weak. We start with Wharton finance professor Itay Goldstein who has boiled it down into two reasons: the long-term prospective of the

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2020 Life Sciences Sector Report from CLSA Shows Strong Growth in Jobs, Investments and Therapeutic Pipeline in California

SAN FRANCISCO, SACRAMENTO, SAN DIEGO, Calif. & WASHINGTON–(BUSINESS WIRE)–Oct 7, 2020–

California Life Sciences Association (CLSA), the trade association representing California’s life sciences industry, today released the 2020 California Life Sciences Sector Report, which shows that California’s life sciences sector directly employed 323,723 people, generated $191.6 billion in revenue, is projected to attract $6.5 billion in venture capital (VC) and received $4.5 billion in funding from the NIH. Produced with PwC US, the 2020 snapshot highlights the strength of California’s biomedical sector – the largest cluster in the world – as evidenced by significant increases in employment, earnings, graduating science and engineering PhDs, VC investment, and potential new drugs and medical devices in the pipeline.

Key Highlights from 2020 California Life Sciences Sector Report

  • 4.0% increase in total life sciences jobs (up more than 12,000 from prior year), with companies directly employing 323,723 Californians – the most in
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Cross-cultural study finds a strong inverse correlation between loneliness and wisdom — ScienceDaily

Over the last few decades, there has been growing concern about loneliness across all ages, particularly in middle-aged and older adults. Loneliness, defined as feeling isolated or not having an adequate number of meaningful personal connections, is consistently associated with unhealthy aging and has been identified as a major risk factor for overall adverse health outcomes.

In a recent cross-cultural study, researchers at University of California San Diego School of Medicine and University of Rome La Sapienza examined middle-aged and older adults in San Diego and Cilento, Italy and found loneliness and wisdom had a strong negative correlation.

The study, publishing in the October 1, 2020 online edition of Aging and Mental Health, suggests wisdom may be a protective factor against loneliness.

“An important finding from our study was a significant inverse correlation between loneliness and wisdom. People with higher scores on a measure of wisdom were less lonely

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Air Street Capital: AI industry remains strong despite academic brain drain, tech nationalization

London-based venture capital firm Air Street Capital today published the State of AI Report 2020, its third annual survey canvassing research, talent, industrial, and political trends in the field of AI. Coauthored by University College London visiting professor Ian Hogarth and AI investor Nathan Benaich, the report aims to highlight technological breakthroughs and areas of commercial application for AI as well as the regulation of AI, its economic implications, and emerging geopolitical issues.

Among other findings, this year’s report implies AI remains mostly closed source, harming accountability and reproducibility, while corporate-driven academic “brain drain” appears to be impacting entrepreneurship. Self-driving cars are in the Precambrian stages. And political leaders are beginning to question whether acquisitions of AI startups should be scrutinized or outright blocked.

AI research

According to Air Street Capital’s report, only 15% of AI research papers publish their code, and there’s been little improvement on the metric since

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Strong Competition in Booming Retail Automation Market | Datalogic, Fujitsu, Posiflex Technology

The MarketWatch News Department was not involved in the creation of this content.

Sep 29, 2020 (Market Insight Reports) —
(New Jersey) A new market study is released on Global and United States Retail Automation In-Depth Market with data Tables for historical and forecast years represented with Chats & Graphs spread through 112 Pages with easy to understand detailed analysis. The study highlights detailed assessment of the Market and display market sizing trend by revenue & volume (if applicable), current growth factors, expert opinions, facts, and industry validated market development data. The research study provides estimates for Global and United States Retail Automation In-Depth Forecast till 2025*. Some are the players that are considered in the coverage of this study are Datalogic S.p.A (Italy), First Data Corporation (US), NCR Corporation (US), Fujitsu Limited (Japan), Toshiba Global Commerce Solutions Inc. (US), Honeywell Scanning and Mobility (US), Kuka AG (Germany), Wincor Nixdorf … Read More

Medtec China 2020 rounds off with nearly 36,000 visitors, highlighting strong momentum in the medical industry

SHANGHAI, Sept. 29, 2020 /PRNewswire/ — Medtec China 2020, sponsored by Informa Markets, took place in Shanghai on September 14. The event was for the first time held in both Hall 2&4 simultaneously, its exhibition area spread over a floor space of 22,500 sqm. A total of 489 exhibitors from 27 countries and regions were in attendance, including 170 first-time exhibitors. Over the three-day duration of the show, the event attracted 36,508 visitors in total.  >>> Click to view short video of Medtec China 2020

Visitors queuing up to visit Medtec China 2020 (PRNewsfoto/Medtec China)
Visitors queuing up to visit Medtec China 2020 (PRNewsfoto/Medtec China)

New products and technologies are exhibited at Medtec to accelerate R&D and innovation of medical devices under the new situation

In order to respond to the fast-changing circumstances and needs, the suppliers of medical device raw materials, precision parts, manufacturing and processing equipment and regulatory consulting services exhibiting at Medtec are likewise changing

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Strong activation of anti-bacterial T cells linked to severe COVID-19 — ScienceDaily

A type of anti-bacterial T cells, so-called MAIT cells, are strongly activated in people with moderate to severe COVID-19 disease, according to a study by researchers at Karolinska Institutet in Sweden that is published in the journal Science Immunology. The findings contribute to increased understanding about how our immune system responds against COVID-19 infection.

“To find potential treatments against COVID-19, it is important to understand in detail how our immune system reacts and, in some cases, perhaps contribute to worsening the disease,” says Johan Sandberg, professor at the Department of Medicine, Huddinge, at Karolinska Institutet and the study’s corresponding author.

T cells are a type of white blood cells that are specialized in recognizing infected cells, and are an essential part of the immune system. About 1 to 5 percent of T cells in the blood of healthy people consist of so-called MAIT cells (mucosa-associated invariant T cells), which

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Northern Lights Possible Over U.S. This Week As Strong Geomagnetic Storms Predicted, Say Scientists

Have you ever seen the Northern Lights? If you live in northern U.S. states near the Canadian border then the night skies could play host to the sky phenomenon—also called the aurora borealis—at around midnight local time on Monday and later in the week, too.

In the wake of the Sun “waking-up” there have been reports of strong displays of aurora in the night sky in recent weeks, but so far they’ve been confined to the Arctic Circle.

However, the latest predictions from the NOAA Space Weather Prediction Center (NOAA SWPC) suggest high activity is coming this week that could mean aurora borealis being visible as far south as Oregon.

Whether anyone sees them depends not only on “space weather,” but also on local weather since heavy cloud will preclude any sightings.

Where

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National Groups Call on U.S. Federal Health Agency Leaders to Stand Strong for Science Over Politics in the Fight Against COVID-19

WASHINGTON, Sept. 22, 2020 /PRNewswire/ — The Alliance for Aging Research (Alliance) and 78 other national organizations representing patients, healthcare providers, and multi-stakeholder coalitions signed a letter directed to the leaders of federal health care agencies urging them to rise above the political considerations and focus on providing the American public with information about the well-established guidelines in place to ensure safe and effective COVID-19 prevention, detection, and treatment. Information and decisions that are perceived as anything less than science-based weaken the public’s confidence in research and innovation, and hinder adherence to mitigation efforts. In fact, a recent STAT/Harris poll found 78 percent of Americans worry the COVID-19 vaccine approval process is being driven by politics rather than science. It is this sentiment that federal government health officials must work with trusted partners to change if they intend to curb the deadly spread of COVID-19 and encourage widespread acceptance of

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