The New York Times - USA (2020-06-25)

B2 N THE NEW YORK TIMES BUSINESSTHURSDAY, JUNE 25, 2020

Months

36 2510 30

Years

220

240

260

’16 ’18 ’20

400

500

600

700 thousand

’16 ’18 ’20

80

100

120

’16 ’18 ’20

0

5

10%

’16 ’18 ’20

0

2

4

$6 a bushel

’12 ’14 ’16 ’18 ’20

0

50

$100 a barrel

’12 ’14 ’16 ’18 ’20

0

1

2

3

4

5

6%

’10 ’15 ’20

90

100

110

120

’15 ’16 ’17 ’18 ’19 ’20

1.0

1.1

1.2

$1.3

’15 ’16 ’17 ’18 ’19 ’20

0

1

2

3%

0

1

2

3%

’19 ’20

+1.0

+0.5

0.0

–0.5

–1.0

–1.5

–2.0

–2.5

–3.0

–3.5

Utilities

Consumer staples

Consumer discretionary

Information technology

Communication services

Real estate

Health care

Materials

Industrials

Financials

Energy

–0.9

–1.6

–2.0

–2.3

–2.5

–2.7

–2.7

–3.0

–3.5

–3.5

–5.5

1. Vanguard Total Bond Market Index Adm(VBTLX) +8.9% +4.3% $113.9


2. Dodge & Cox Income(DODIX) +8.4 +4.7 63.2


3. PIMCO Total Return Instl(PTTRX) +8.4 +4.4 52.5


4. Fidelity US Bond Index(FXNAX) +8.9 +4.3 50.7


5. Metropolitan West Total Return Bd I(MWTIX) +9.1 +4.3 48.0


6. Fidelity Series Investment Grade Bond(FSIGX) +9.2 +4.8 32.3


7. American Funds Bond Fund of Amer A(ABNDX) +10.0 +4.4 25.9


8. Baird Aggregate Bond Inst(BAGIX) +9.2 +4.7 25.0


9. Baird Core Plus Bond Inst(BCOIX) +8.8 +4.9 23.6


10. Vanguard GNMA Adm(VFIJX) +5.6 +3.1 18.5


11. GE (GE) $6.53 –6.7% 143.8


12. American Airl (AAL) 13.04 –6.9 140.1


13. Nrwn Crs Ln (NCLH) 15.80 –12.4 76.9


14. Ford Motor (F) 5.95 –3.3 75.3


15. BofAML (BAC) 23.81 –4.0 75.3


16. T-Mobile US (TMUS) 108.43 +1.2 66.6


17. AT&T (T) 29.42 –2.7 65.5


18. United Arlns (UAL) 33.07 –8.3 65.0


19. Wells Fargo (WFC) 26.12 –4.1 57.2


20. Boeing (BA) 176.69 –6.0 56.2


21. Nrwn Crs Ln (NCLH) $15.80 –12.4%


22. Royal Carib C (RCL) 48.24 –11.3


23. Carnivl (CCL) 16.00 –11.1


24. Wynn Resorts (WYNN) 75.21 –11.0


25. TripAdvisor (TRIP) 18.15 –9.8


26. Cimarex Energ (XEC) 26.82 –9.5


27. Diamondback (FANG) 41.90 –9.5


28. Gap (GPS) 10.42 –9.3


29. Devon Energy (DVN) 11.25 –9.1


30. Occidental (OXY) 18.00 –9.0


31. Kroger (KR) $32.82 +2.2%


32. Tractor Supp (TSCO) 131.34 +1.6


33. CH Robinson (CHRW) 78.54 +1.6


34. Tyler Tech (TYL) 338.47 +1.2


35. T-Mobile US (TMUS) 108.43 +1.2


36. Gilead Scien (GILD) 75.93 +1.2


37. Dollar General (DG) 191.85 +1.0


38. Chipotle (CMG) 1047.95 +0.9


39. CenterPnt Ene (CNP) 18.33 +0.8


40. Public Strg (PSA) 189.45 +0.6

+20%

+15%

+10%

+ 5%

0%

2,400 – 5%

2,600

2,800

3,000

3,200

3,400

Apr. May June

+20%

+15%

+10%

+ 5%

0%

• 5%
  7,000

8,000

9,000

10,000

Apr. May June

+20%

+15%

+10%

+ 5%

0%

• 5%

22,000

24,000

26,000

28,000

30,000

Apr. May June

3050.33 2.6% 9909.17 2.2% 25445.94 2.7%

Shanghai +0.3%

Tok yo – 0.1%

Frankfurt –3.4%

London –3.1%

Toronto –1.7%

New York –2.6%

$1 = 107.04

$1.1252 Unemployment Rate

New-home sales

Consumer confidence

Industrial production

Long- and intermediate-term

government bonds

S&P 500 Nasdaq Composite Index Dow Jones industrials

Best performers Worst performers Most active

Sector performance

Bonds

Yield curve

Key rates

Borrowing rate

Crude oil

Corn

Savings rate

yen

10-year Treas.

YESTERDAY

1-YE AR AGO

Fed Funds 2-year Treas.

Currencies Consumer rates Commodities Economy

How stock markets fared yesterday in Asia ... ... in Europe ... and in the Americas.

CLOSE

S&P 500 SECTORS

CLOSE CLOSE 1 YR 5 YRS

TOTAL RETURNASSETSTOTAL

CHANGE CHANGE CHANGE IN MIL. IN BIL.

VOLUME

POWERED BY

What Happened in Stock Markets Yesterday

What Is Happening in Other Markets and the Economy

Major stock market indexes

6 p.m. E.T. 8 10 12 a.m. 2 4 6 a.m. 8 10 12 p.m. 2 4 6 p.m.

Maturity

1-year CDs

30-year fixed mortgages

S&P 500 COMPANIES S&P 500 COMPANIES S&P 500 COMPANIES

Source: Morningstar

1 euro =

The Digest

10-YEAR TREASURY YIELD

0.69%

–0.03 points

CRUDE OIL (U.S.)

$38.01

–$2.36

S&P 500 INDEX

–2.59%

3,050.33

DOW JONES INDUSTRIALS

–2.72%

25 ,445. 94

NASDAQ COMPOSITE INDEX

–2.19%

9,909.17

GOLD (N.Y.)

$1,765.80

–$6.30

COMPANIES

Vitamin Chain GNC

Files for Bankruptcy

GNC, the 85-year-old, Pittsburgh-
based vitamin and herbal supple-
ment retailer, has filed for Chapter
11 bankruptcy, with plans to close
at least 800 to 1,200 locations and
possibly sell itself.
GNC had been trying to reduce
its nearly $900 million debt load
amid falling sales at its stores
when the coronavirus pandemic
forced thousands of them to close
temporarily, cutting off a major

revenue source.

GNC plans a “dual-path” re-

structuring where it would either

be sold as a going concern, or im-

prove its balance sheet by shed-

ding more than $300 million of

debt.

GNC said it has agreed in prin-

ciple with many lenders to sell it-

self to an affiliate of its largest

shareholder, Harbin Pharmaceu-

tical Group, for $760 million in a

court-supervised auction, subject

to higher bids.

It also said it has lined up $130

million in new financing, includ-

ing support from Harbin.

REUTERS

AIRLINES

Major Pilots Union Seeks

Subsidy for Empty Seats

A major pilots union said Wednes-
day it had begun discussing with
lawmakers a plan for the govern-
ment to buy seats on each flight to
prevent passengers from having
to sit next to strangers.
The idea, by the Allied Pilots As-
sociation, which represents 15,000
pilots for American Airlines, is
aimed at easing a return to pre-
pandemic passenger levels while
creating a level playing field
across the airline industry.
Some airlines in the United
States are blocking middle seats
or capping the number of seats
they are selling on each flight in
order to allow for more space be-
tween passengers.
In a statement, the A.P.A. presi-
dent, Eric Ferguson, said uniform

social distancing would encour-

age passengers to fly more and

airlines to operate more flights,

thus preserving more jobs in the

critical aviation industry.

Under the plan, the price of

empty seats would be based on in-

dustry average costs for 2019. As

immunity to Covid-19 rose, the

number of seats bought by the

government would fall. REUTERS

SOCIAL MEDIA

Twitter Bars Meme Maker

For Copyright Violations

A conservative social media user
whose far-right memes have been
reposted by President Trump has
been kicked off Twitter for re-
peated copyright violations.
Logan Cook, a Kansas man who
posts under the name Carpe
Donktum, was permanently
barred from the platform Tuesday,
days after he posted a video that
used doctored footage from CNN.
The clip, which Trump re-

tweeted last week, used footage

from a CNN story from last year

about the friendship of two tod-

dlers, one black and one white.

Cook doctored the clip, set it to

ominous music and inserted a

fake misspelled CNN caption

reading “Terrified todler runs

from racist baby,” then a clip from

the original video before showing

the message “America is not the

problem. Fake news is the prob-

lem.”

Mr. Cook said that his posts are

satirical and are therefore exempt

from copyright rules.

ASSOCIATED PRESS

KYLE GRILLOT FOR THE NEW YORK TIMES

OAKLAND, CALIF. — After years of

criticism about how it keeps a

record of what people do online,

Google said it would start auto-

matically deleting location history

and records of web and app activi-

ty as well as voice recordings on

new accounts after 18 months.

The limited change, announced

on Wednesday, comes after

Google introduced an option last

year to allow users to automati-

cally delete data related to their

web searches, requests made with

the company’s virtual assistant

and their location history. At the

time, it offered users the ability to

erase the data after three months

or 18 months.

The policy sets Google accounts

to delete that data by default on

new accounts, instead of requir-

ing users to go into the product’s

settings to change to an option to

delete. The settings on existing ac-

counts will remain unchanged.

Google, which boasts that it has

more than one billion monthly us-

ers for seven of its services, said it

did not alter the settings for exist-

ing accounts because it did not

want to upset users with an unex-

pected change. However, the com-

pany said it planned to alert users

to the ability to change the dele-

tion settings in emails and promo-

tions on its products.

The shift addresses the power

of defaults, or predetermined

choices made for the user, to guide

people’s behavior in how they use

online services. Some users never

tinker with the settings, which

means they do not exercise choice

in the level of privacy or data col-

lection that they prefer.

While critics have argued that

Google collects an abundance of

data to improve the targeting of

advertisements to make more

money, the company has said that

user data is important to person-

alize products and make it more

useful.

In the announcement on

Wednesday, Sundar Pichai, chief

executive of Google’s parent com-

pany Alphabet, said the company

was “challenging ourselves to

make helpful products with less

data.”

Google said it would also

change the default setting on new

YouTube accounts to erase view-

ing history after three years, al-

though users can choose to delete

that record after three months, 18

months or choose not to delete it

at all.

The company also announced

other efforts aimed at making it

easier to manage online privacy,

including new features to make it

easier to enable “incognito” mode

— a more private form of brows-

ing — in several of its products.

Google said it would also add a

feature to help users learn their

privacy settings from its search

engine by typing in a query like

“Google Privacy Checkup.”

The deletion settings for existing Google accounts will stay the same, but users will have the ability to change them.

JASON HENRY FOR THE NEW YORK TIMES

Google Will Erase Data After 18 Months

A policy that changes

the default settings

only for new users.

By DAISUKE WAKABAYASHI