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BA   168.90 (+3.24%)
BAC   24.25 (+2.02%)
S&P 500   3,376.70 (+1.24%)
DOW   27,903.36 (+1.64%)
QQQ   278.66 (+0.98%)
AAPL   115.83 (+1.53%)
MSFT   210.03 (+1.34%)
FB   262.71 (+0.35%)
GOOGL   1,473.82 (+0.53%)
AMZN   3,175.96 (+0.99%)
TSLA   427.03 (+1.90%)
NVDA   539.03 (+1.89%)
BABA   290.81 (+5.01%)
CGC   14.43 (-0.48%)
GE   6.25 (+2.12%)
MU   47.52 (-6.29%)
AMD   81.63 (-0.17%)
T   28.54 (+0.85%)
F   6.68 (+1.21%)
ACB   4.70 (+0.43%)
GILD   62.87 (+1.24%)
NFLX   498.55 (+1.03%)
DIS   124.74 (-0.53%)
BA   168.90 (+3.24%)
BAC   24.25 (+2.02%)
S&P 500   3,376.70 (+1.24%)
DOW   27,903.36 (+1.64%)
QQQ   278.66 (+0.98%)
AAPL   115.83 (+1.53%)
MSFT   210.03 (+1.34%)
FB   262.71 (+0.35%)
GOOGL   1,473.82 (+0.53%)
AMZN   3,175.96 (+0.99%)
TSLA   427.03 (+1.90%)
NVDA   539.03 (+1.89%)
BABA   290.81 (+5.01%)
CGC   14.43 (-0.48%)
GE   6.25 (+2.12%)
MU   47.52 (-6.29%)
AMD   81.63 (-0.17%)
T   28.54 (+0.85%)
F   6.68 (+1.21%)
ACB   4.70 (+0.43%)
GILD   62.87 (+1.24%)
NFLX   498.55 (+1.03%)
DIS   124.74 (-0.53%)
BA   168.90 (+3.24%)
BAC   24.25 (+2.02%)
S&P 500   3,376.70 (+1.24%)
DOW   27,903.36 (+1.64%)
QQQ   278.66 (+0.98%)
AAPL   115.83 (+1.53%)
MSFT   210.03 (+1.34%)
FB   262.71 (+0.35%)
GOOGL   1,473.82 (+0.53%)
AMZN   3,175.96 (+0.99%)
TSLA   427.03 (+1.90%)
NVDA   539.03 (+1.89%)
BABA   290.81 (+5.01%)
CGC   14.43 (-0.48%)
GE   6.25 (+2.12%)
MU   47.52 (-6.29%)
AMD   81.63 (-0.17%)
T   28.54 (+0.85%)
F   6.68 (+1.21%)
ACB   4.70 (+0.43%)
GILD   62.87 (+1.24%)
NFLX   498.55 (+1.03%)
DIS   124.74 (-0.53%)
BA   168.90 (+3.24%)
BAC   24.25 (+2.02%)
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UK recovery continues but risks loom, notably over Brexit

Friday, September 11, 2020 | Pan Pylas, Associated Press


In this Monday, Aug. 3, 2020 file photo, a sign outside a pub reads: "Wanted Customers" in central London. The British economy recouped some further lost ground during July after a swath of coronavirus restrictions were lifted, official figures showed Friday Sept. 11, 2020. However, it still has to make up around half the output lost at the peak of the lockdown and now faces renewed risks related to Brexit. (AP Photo/Alastair Grant, file)

LONDON (AP) — The British economy recouped further lost ground during July after a swath of coronavirus restrictions on businesses were lifted, official figures showed Friday. However, it still has to make up around half the output lost at the peak of the lockdown and now faces renewed risks related to Brexit.

The Office for National Statistics said the British economy grew by a monthly rate of 6.6% as many sectors started reopening after months of being idle during the lockdown. The hospitality sector, which includes, hotels, pubs and restaurants, reopened at the start of July, for example.

Other sectors, such as manufacturing and house-building also continued their recovery, though industrial production and construction remain below their pre-crisis levels.

July's increase means that the British economy has now grown for three months in a row in the wake of April's dramatic 20% slide. Overall, the British economy remains 11.7% smaller than it was in February before the full economic impact of the pandemic was felt.

Economists think the pace of the recovery will moderate following of a recent pick-up in new virus infections that has seen the re-imposition of lockdown restrictions on social gatherings, for example.

The looming end of a salary-support scheme and heightened uncertainties over a trade deal between the U.K. and the European Union are also expected to weigh on growth and, as a result, most economists think the economy will end the year around 8% smaller than it was before the pandemic.

“We’re likely to see the pace of expansion slow in August and September and stall as we head into the winter as the ‘mechanical rebound’ ends and unemployment rises,” said James Smith, developed markets economist at ING.

Concerns over a post-Brexit deal have become a particular concern over the past few days amid a souring in relations between the U.K. and the EU. The announcement from the British government that new legislation breaches elements of the withdrawal agreement, which allowed for the country's smooth departure from the bloc at the start of the year, has prompted a furious reaction from the EU and raised the prospect of an imminent collapse in the talks.

Even before the current standoff, the trade discussions had made very little progress, with the two sides seemingly wide apart on several issues, notably on business regulations, the extent to which the U.K. can support certain industries and over the EU fishing fleet’s access to British waters.

The EU has been particularly insistent on ensuring that British-based businesses don’t have an unfair advantage as a result of laxer social, environmental or subsidy rules in the U.K.

British businesses are worried about a collapse in the talks that could see tariffs and other impediments slapped on trade with the EU at the start of next year. Most economists think that the costs of a “no-deal” outcome would fall disproportionately on the U.K., as trade with EU accounts for around half the total.

Supporters of Brexit have said that one of the benefits of unshackling the British economy from the EU is that it allows the country to sign trade deals with whoever it wishes — the EU negotiates trade deals on behalf of all its members.

On Friday, the British government said it had secured a free trade agreement in principle with Japan, its first major deal as an independent trading nation.

Though details of the agreement are thin, the government said the U.K.-Japan Comprehensive Economic Partnership Agreement “goes far beyond” the existing deal between the EU and Japan and will increase commerce with Japan by around 15 billion pounds ($19 billion).

Skeptics say no amount of trade deals can mitigate for the losses that may accrue in the event of a ‘no-deal’ outcome with the EU.

___

Follow AP coverage of the virus outbreak at https://apnews.com/VirusOutbreak and https://apnews.com/UnderstandingtheOutbreak

8 Stocks Under $10 and On Sale Right Now

During times of market volatility, investors are looking to get return anywhere they can. One approach is to find cheap stocks (i.e. stocks that trade for less than $10). It’s not surprising that many of the cheap stocks can be found on Robinhood. This trading app is popular among millennial investors. And those investors are willing to speculate on cheap stocks.

And it’s easy to see why. Buying 100 shares of a stock that is trading for $5 can seem to be a wise investment if the stock moves higher. After all, if the stock price increases just $1, investors can see a 20% gain.

But that is not always the case. In fact, it’s not usually the case. The trap that some investors fall into is believing that these stocks can be the next Amazon or Apple. And while they do offer a potential reward, they also carry significant risk. It’s important to remember that when a stock is selling for less than $10, there’s usually a reason. And in some cases, it means the stock is under selling pressure.

This is one time when it’s important to remember that inexpensive does not necessarily mean the stock is a good value. However, there are some quality stocks that can be found in the bargain bin. And for many of these stocks, the value is found in a solid dividend that can reward income investors.

View the "8 Stocks Under $10 and On Sale Right Now".

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