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Property-and-Casualty test Format | Property-and-Casualty Course Contents | Property-and-Casualty Course Outline | Property-and-Casualty test Syllabus | Property-and-Casualty test Objectives
TOPIC: Overview of Insurance Operations
1. The candidate will understand how insurance companies are organized, their goals, how success is measured, and their functions.
Learning Outcomes
The candidate will be able to:
a) Explain how insurers have organized to provide property-casualty insurance
b) Describe the major goals of an insurer
c) Describe the internal and external constraints that impede insurers from achieving their major goals
d) Describe the measurements used to evaluate how successful an insurer is at meeting its established goals
e) Describe the core and supporting functions performed by insurers
TOPIC: Insurance Regulation
2. The candidate will understand the reasons for and the types of regulation.
Learning Outcomes
The candidate will be able to:
a) Describe the effect each of the following acts and legal decisions have had on insurance regulation: Paul v. Virginia, Sherman Antitrust Act, South-Eastern Underwriters Association, McCarran-Ferguson Act, Insurance Services Office and the Attorneys General Lawsuit, and Gramm-Leach-Bliley Act
b) Explain how insurance regulation protects consumers, contributes to maintaining insurer solvency, and assists in preventing
destructive competition
c) Identify the regulatory activities of state insurance departments and the duties typically performed by state insurance commissioners
d) Describe the arguments for and against federal regulation of insurance
e) Describe the licensing requirements for insurers and insurance personnel
f) Describe the methods that regulators use to maintain the solvency of insurers and to manage insolvencies, and the reasons why insurers become insolvent
g) Describe the goals of insurance rate regulation, the major types of state rating laws, and the reasons supporting and opposing rate regulation
h) Explain how the contract language contained in insurance policies is regulated
i) Explain how the market conduct areas in insurance are regulated and how regulatory activities protect consumers
j) Explain how organizations that act as unofficial regulators affect insurance activities
TOPIC: Insurance Marketing and Distribution
3. The candidate will understand the insurance marketplace and marketing and distribution systems.
Learning Outcomes
The candidate will be able to:
a) Describe the following attributes of the competitive property-casualty insurance marketplace: distinguishing characteristics of insurance customers, insurer marketing differentiations, and unique factors in the insurance marketplace
b) Explain how typical insurer marketing activities are performed and why they are performed
c) Describe the main types of insurance distribution systems and channels, including the principal characteristics that distinguish one distribution system from another
d) Describe the functions performed by insurance producers
e) Describe the key factors an insurer should evaluate during the distribution-system and distribution-channel selection process
TOPIC: The Underwriting Function
4. The candidate will understand the purpose, role, and function of underwriting.
Learning Outcomes
The candidate will be able to:
a) Describe the purpose of underwriting
b) Describe the underwriting activities typically performed by line and staff underwriters
c) Describe the importance of compliance with underwriting authority in individual account selection
d) Describe the constraining factors considered in the establishment of underwriting policy
e) Describe the purposes that underwriting guidelines and underwriting audits serve
f) Describe the steps in the underwriting process
g) Explain how an insurers underwriting results are measured and how financial measures can be distorted
TOPIC: Underwriting Property and Liability Insurance
5. The candidate will understand the different policy considerations in underwriting property and liability insurance policies.
Learning Outcomes
The candidate will be able to:
a) Describe in detail each of the COPE factors used to evaluate property loss exposures
b) Explain how insurable interest, policy provisions for valuing losses, and insurance to value affect a loss payment amount under property insurance
c) Explain how underwriters use policy amount, amount subject, normal loss expectancy (NLE), probable maximum loss (PML),
and maximum foreseeable loss (MFL) to measure potential loss severity
d) Describe the underwriting considerations for business income and extra expense coverage
e) Describe the underwriting considerations and risk control techniques associated with employee dishonesty and crimes
committed by others
f) Describe the loss exposures and the underwriting considerations for commercial general liability insurance
g) Describe the underwriting considerations for personal and commercial auto insurance
h) Describe the key underwriting considerations relevant to the evaluation of submissions for workers compensation insurance
i) Describe the underwriting considerations for umbrella and excess liability insurance
TOPIC: Risk Control and Premium Auditing
6. The candidate will understand the purpose and function of risk control and premium auditing.
Learning Outcomes
The candidate will be able to:
a) Describe the goals of insurer risk control activities
b) Describe the risk control services provided by insurers
c) Explain how risk control cooperates with other insurer functions
d) Explain why premium audits are conducted
e) Describe the premium auditing process
f) Explain why premium audits must be accurate
g) Explain how premium auditing contributes to other insurer functions
TOPIC: The Claim Function
7. The candidate will understand the claim function and related elements.
Learning Outcomes
The candidate will be able to:
a) Identify goals of the claim function, the users of claim information, and the parties with whom claim personnel interact
b) Describe the claim department structure, types and functions of claim personnel, and claim personnel performance measures
c) Describe the key activities in the claim handling process: Acknowledging and assigning the claim, Identifying the policy and
setting reserves, Contracting the insured or the insureds representative, Investigating the claim, Documenting the claim,
Determining the cause of loss, liability, and the loss amount, and Concluding the claim
d) Explain how the law of bad faith relates to an insurers duty of good faith and fair dealing and how the legal environment
affects the law of bad faith
e) Describe the elements of good-faith claim handling
TOPIC: Adjusting Property and Liability Claims
8. The candidate will understand the claim handling process for property and liability claims.
Learning Outcomes
The candidate will be able to:
a) Explain how and why the activities in the framework for handling property claims are accomplished
b) Describe the challenges of handling various types of property claims: Residential dwelling, Residential personal property,
Commercial structure, Business income, Merchandise, Transportation and bailment, and Catastrophe
c) Explain how and why the activities in the framework for handling a liability claim are accomplished
d) Describe the challenges of handling various types of liability claims: Auto bodily injury liability, Auto property damage,
Premises liability, Operations liability, Products liability, Workers compensation, and Professional liability
e) Given a claim, determine coverage for a loss using the framework for coverage analysis and the activities in the claim handling process
TOPIC: Reinsurance
9. The candidate will understand the function and types of reinsurance and its application.
Learning Outcomes
The candidate will be able to:
a) Describe reinsurance and its principal functions
b) Describe the three sources of reinsurance
c) Describe treaty reinsurance and facultative reinsurance
d) Describe the types of pro rata reinsurance and excess of loss reinsurance and their uses
e) Describe finite risk reinsurance and other methods that rely on capital markets as alternatives to traditional and non-traditional reinsurance
f) Describe the factors that should be considered in the design of a reinsurance program
g) Given a case, identify the reinsurance needs of an insurer and recommend an appropriate reinsurance program to address those
needs
h) Explain how reinsurance is regulated
TOPIC: Personal Auto Policy
10. The candidate will understand the role of automobile insurance in society and the contents of the Personal Auto Policy.
Learning Outcomes
The candidate will be able to:
a) Evaluate various laws and systems regarding approaches to compensating automobile accident victims: Tort liability system,
Financial responsibility laws, Compulsory insurance laws, Uninsured motorists coverage, Underinsured motorists coverage,
and No-fault insurance
b) Describe no-fault automobile laws in terms of their types and required benefits
c) Explain how high-risk drivers may obtain auto insurance
d) Describe automobile insurance rate regulation in terms of rating factors, matching price to exposure, competition, and other
regulatory issues
e) Summarize the sections of the Personal Auto Policy
f) Identify the types of information typically contained on the declarations page of a personal auto policy
g) For each of Part A � Liability Coverage, Part B � Medical Payments Coverage, Part C � Uninsured Motorists Coverage, and
Part D � Coverage for Damage to Your Auto: Summarize the provisions; given a case describing a claim, determine if that part
of the coverage applies and, if so, the amount the insurer would pay for the claim
h) Describe underinsured motorist insurance in terms of its purpose and the ways in which it can vary by state
i) Describe the insureds duties following a covered auto accident or loss as shown in Part E
j) Summarize each of the general provisions in Part F
k) Describe the Personal Auto Policy endorsements that are used to handle common auto loss exposures
l) Given a case describing a claim, determine whether the Personal Auto Policy would cover the claim and, if so, the amount the
insurer would pay for the claim
TOPIC: Homeowners Coverage
11. The candidate will understand the contents of the ISO Homeowners Program and describe some specialty plans.
Learning Outcomes
The candidate will be able to:
a) Describe how individuals and families can use the ISO 2011 Homeowners insurance program to address their personal risk
management needs
b) Summarize the structure of the Homeowners Policy (HO-3), key changes in the ISO 2011 program revision, and factors
important to rating homeowners insurance
c) Determine whether the 2011 HO-3 policy provisions in Section I � Property Coverages provide coverage for a given loss or
loss exposure: Coverage A � Dwelling, Coverage B � Other Structures, Coverage C � Personal Property, Coverage D � Loss of
Use, and additional coverages
d) Summarize the 2011 HO-3 policy provisions concerning Perils Insured Against and Exclusions
e) Summarize each of the 2011 HO-3 policy provisions in Section I � Conditions
f) Given a scenario describing a homeowners property claim, determine whether the 2011 HO-3 Policy Section I � Property
Coverages would cover the claim and, if so, the amount the insurer would pay for the claim
g) Determine whether the 2011 HO-3 policy provisions in Section II � Liability Coverage provide coverage for a given loss or
loss exposure: Coverage E � Personal Liability, Coverage F � Medical Payments to Others, and additional coverages
h) Determine whether one or more exclusions preclude the coverage provided by Section II of the 2011 HO-3 policy provisions
in Section II � Exclusions
i) Summarize the 2011 HO-3 policy provisions concerning Conditions applicable to Section II and Conditions applicable to
Sections I and II
j) Given a case describing a homeowners liability claim, determine whether the 2011 HO-3 policy Section II � Liability
Coverage would cover the claim, and if so, the amount the insurer would pay for the claim
k) Compare the coverage provided by each of the following 2011 Homeowners policies to the coverage provided by the 2011
HO-3 policy: HO-2 Broad Form, HO-5 Comprehensive Form, HO-4 Contents Broad Form, HO-6 Unit-Owners Form, and
HO-8 Modified Coverage Form
l) Summarize the coverages provided by the various 2011 ISO Homeowners policy endorsements
m) Given a case describing a homeowners claim, determine whether a 2011 HO-3 Policy that may include one or more
endorsements would cover the claim, and, if so, the amount the insurer would pay for the claim
n) Describe the operation of the National Flood Insurance Program and the coverage it provides
o) Describe the operation of FAIR plans and beachfront and windstorm plans and the coverage they provide
TOPIC: Commercial Property Insurance
12. The candidate will understand the nature of Commercial Property Insurance.
Learning Outcomes
The candidate will be able to:
a) Describe commercial property insurance in terms of the major categories of loss exposures that can be covered and the
components of a commercial property coverage part
b) Determine whether a described item of property qualifies as Covered Property under one or more of these categories in the
Building and Personal Property Coverage Form: Building, Your Business Personal Property, and Personal Property of Others
c) Determine which of the additional coverages and coverage extensions of the Building and Personal Property Coverage Form
apply to a described loss
d) Determine whether the cause of a described loss is a covered cause of loss under the Causes of Loss � Basic Form or the
Causes of Loss � Broad Form
e) Determine whether the cause of a described loss is a covered cause of loss under the Causes of Loss � Special Form
f) Apply the Limits of Insurance and Deductible provisions of the Building and Personal Property Coverage Form to a described
loss
g) Explain how each of the Loss Conditions and Additional Conditions affects coverage under the Building and Personal Property
Coverage Form
h) Explain how each of the following optional coverages described in the BPP modifies the basic coverage of the BPP: Agreed
Value, Inflation Guard, Replacement Cost, and Extension of Replacement Cost to Personal Property of Others
i) Summarize each of the Commercial Property Conditions
j) Explain how each of the conditions contained in the Common Policy Conditions affects coverage under a commercial property
coverage part
k) Explain how each of these documents modifies the Building and Personal Property Coverage Form: Ordinance or Law
Coverage endorsement, Spoilage Coverage endorsement, Flood Coverage endorsement, Earthquake and Volcanic Eruption
Coverage endorsement, Peak Season Limit of Insurance endorsement, and Value Reporting Form
l) Identify the factors that affect commercial property insurance premiums
m) Given a case, determine whether, and for what amount, a described loss would be covered by a commercial property coverage
part that includes the Building and Personal Property Coverage Form and any of the three causes of loss forms
TOPIC: Commercial General Liability Insurance
13. The candidate will understand the nature of Commercial General Liability Insurance.
Learning Outcomes
The candidate will be able to:
a) Describe commercial general liability insurance in terms of the types of losses that can be covered by general liability
insurance and the components of a commercial general liability coverage part
b) Determine whether a described claim meets the conditions imposed by the Coverage A insuring agreement of the Commercial
General Liability Coverage Form (occurrence version)
c) Determine whether any of the exclusions applicable to Coverage A of the Commercial General Liability Coverage Form
eliminate coverage for a described claim
d) Determine whether a described claim meets the conditions imposed by the Coverage B insuring agreement of the Commercial
General Liability Coverage Form and whether any of the Coverage B exclusions eliminate coverage for the claim
e) Determine whether a described claim meets the conditions imposed by the Coverage C insuring agreement of the Commercial
General Liability Coverage Form and whether any of the Coverage C exclusions eliminate coverage for the claim
f) Summarize the supplementary payments of the Commercial General Liability Coverage Form
g) Determine whether a described person or organization is an insured under the Commercial General Liability Coverage Form
h) Explain how the following limits of insurance in the CGL Coverage Form are applied: Each occurrence limit, Personal and
advertising injury limit, Damage to premises rented to you limit, Medical expense limit, General aggregate limit, and Productscompleted operations aggregate limit
i) Apply the Commercial General Liability Conditions to claims or other interactions between the insurer and the insured
j) Explain how the premium for CGL coverage is determined
k) Given a case, determine whether, and for what amount, the Commercial General Liability Coverage Form (occurrence version)
covers a described claim
TOPIC: Commercial Auto Insurance
14. The candidate will understand the nature of Commercial Auto Insurance.
Learning Outcomes
The candidate will be able to:
a) Describe commercial auto insurance in terms of the loss exposures that can be covered and the components of a commercial
auto coverage part
b) Select the symbols needed to provide a described organization with appropriate commercial auto coverage(s) under the
Business Auto Coverage Form
c) Summarize the provisions contained in Section II � Covered Autos Liability Coverage of the Business Auto Coverage Form
d) Summarize the provisions contained in Section III � Physical Damage of the Business Auto Coverage Form
e) Describe the conditions contained in the business Auto Coverage form
f) Describe the following coverages that may added by endorsement to the Business Auto Coverage Form: medical payments,
personal injury protection and added personal injury protection, and uninsured and underinsured motorists
g) Explain how private passenger vehicles and trucks, tractors, and trailers are rated for commercial auto coverage
h) Given a case, determine whether, and for what amount, the Business Auto Coverage Form covers a described claim
TOPIC: Workers Compensation and Employers
Liability Insurance
15. The candidate will understand workers compensation and employers liability coverages.
Learning Outcomes
The candidate will be able to:
a) Describe workers compensation statutes in terms of: Basic purpose, Benefits provided, and Persons and employments covered
b) Describe workers compensation statutes in terms of: Extraterritorial provisions, Federal jurisdiction, and Methods for meeting employers obligations
c) Summarize these sections of the Workers Compensation and Employers Liability Insurance Policy: Information Page, General
Section, and Part One � Workers Compensation Insurance
d) Explain why employers liability insurance is needed and how the Workers Compensation and Employers Liability Insurance
Policy addresses this need
e) Describe the purpose and operation of Part Three � Other States Insurance in the Workers Compensation and Employers
Liability Insurance Policy
f) Describe the need for and the coverage provided by the Voluntary Compensation and Employers Liability Coverage
Endorsement and the Longshore and Harbor Workers Compensation Act Coverage Endorsement
g) Explain how premium bases, classifications, and premium adjustments affect the rating of workers compensation insurance
h) Given a case, determine whether the Workers Compensation and Employers Liability Insurance Policy covers a described
injury or illness and, if so, what types of benefits or what amount of damages is covered
TOPIC: Specialty Coverages
16. The candidate will understand various specialty coverages.
Learning Outcomes
The candidate will be able to:
a) Describe commercial excess liability insurance and commercial umbrella liability insurance in terms of: The three basic types
of commercial excess liability insurance and The provisions commonly found in commercial umbrella liability policies that
distinguish them from other types of commercial liability policies
b) Describe professional liability insurance and management liability insurance in terms of: How they differ from each other,
How they differ from commercial general liability policies, and The common types of professional and management liability
policies
c) Describe the purpose and characteristics of each of these types of environmental insurance policies: Site-specific
environmental impairment liability (EIL) policies, Underground storage tank compliance policies, Remediation stop-loss
policies, Contractors pollution liability policies, and Environmental professional errors and omissions liability policies
d) Describe aircraft insurance in terms of: The purpose-of-use categories that insurers use to classify aircraft and The coverages that can be included in an aircraft policy
e) Describe the types of losses that can be covered by each of the insuring agreements generally available in cyber risk insurance policies
f) Explain how an organization domiciled in the United States can insure foreign loss exposures that would not be covered under
standard property and liability insurance policies
g) Summarize the purpose and provisions of the terrorism endorsements developed by Insurance Services Office, Inc., and the
National Council on Compensation Insurance, Inc.
h) Summarize the guarantee provided by the particular types of surety bonds within the following bond classifications: Contract
bonds, License and permit bonds, Public official bonds, Court bonds, and Miscellaneous bonds
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inventory market reside Monday: Market finishes at session excessive, Dow up 580, S&P 500 goes nice for June | Property-and-Casualty test Braindumps and PDF Download
The long island inventory exchange (NYSE) stands in lessen big apple on the first day that traders are allowed returned onto the historic floor of the trade on may 26, 2020 in big apple city.
Spencer Platt | Getty images
The stock market climbed larger in Monday's unstable trading amid a slew of mixed headlines in regards to the pandemic. The Dow complete the session up greater than 500 facets at its high, lifted by means of Boeing shares, which skyrocketed as certification flights for the 737 Max began. A list jump in pending home income in may additionally helped boost sentiment. here's what took place:
4:25 pm: Market rally by means of the numbersThe market started the week on a favorable word with the Dow jumping about 580 aspects and finishing the session at its high. Shares of Dow-element Boeing rallied 14.four% after the Federal Aviation Administration began certification flights of the Boeing 737 Max. The S&P 500 comprehensive the day up 1.4%, while the Nasdaq Composite rose 1.2%. With Monday's effective good points, the S&P 500 is now tremendous for June, up 0.2%.— Li
three:07 pm: last hour of trading: Boeing leads Dow to four hundred-factor gainThe Dow traded greater than 400 facets bigger with under an hour left within the session, thanks in colossal half to a 12% surge in Boeing shares. The inventory become on fire because the company begun its recertification examine for the embattled 737 Max jet. The S&P 500 and Nasdaq traded bigger via 0.9% and zero.5%, respectively. —Imbert
2:forty seven pm: New Jersey pauses plan to reopen indoor diningNew Jersey will retain its ban on indoor eating "indefinitely" because of rising virus situations in states which have unfolded extra, Gov. Phil Murphy mentioned in a tweet. other areas, including Texas and los angeles, have reinstated economic restrictions on organizations corresponding to bars due rising instances. —Pound
2:02 pm: Apple reverses route, rises more than 2%Shares of the purchaser tech significant rose 2% as tech shares joined the rally on Monday. Apple became down under 1% past in the session. The Nasdaq has gained 1% for the day, with the S&P mountain climbing 1.three%. The Dow changed into buying and selling roughly 500 points, or 2%, greater. —Pound
2:00 pm: Fed opens up 2nd a part of its corporate bond-purchasingThe Federal Reserve launched the second phase of its company bond-purchasing program, this time paying for debt directly from issuers. while the Fed had been purchasing bonds on the secondary market, the brand new flow will allow it to move to the primary market. in keeping with an announcement Monday afternoon that confirms up to now launched details, the Fed might be the only real investor within the concerns it purchases. The critical bank additionally will buy syndicated loans. terms may be company-certain, even though the Fed might be looking at basically U.S.-based groups with a score of at the least BBB-/Baa3 as of March 22, the day before the fundamental and secondary amenities were introduced. The Fed to this point has bought about $eight.7 billion in bonds and ETFs. –Cox
1:forty six pm: facebook rises 2%regardless of continued power from advertisers over the company's approach to posts by President Donald Trump and different controversial content, shares of facebook have continuously risen all through Monday's session and at the moment are up 2%. The inventory opened down more than three%. —Pound
1:30 pm: pretty much half of the U.S. population is still out of a jobessentially half of the U.S. adult inhabitants continues to be with no job, underscoring simply how far the U.S. labor market has to heal within the wake of the pandemic. The employment-population ratio — the variety of employed americans as a percent of the U.S. adult inhabitants — plunged to fifty two.8% in may, meaning forty seven.2% of american citizens are jobless, in keeping with Bureau of Labor statistics. the percentage of inhabitants employed dropped sharply from a fresh excessive of sixty one.2% in January and is farther faraway from a submit-struggle record of sixty four.7% in 2000. —Li
1:20 pm: Boeing gains steam as test flights start 12:fifty three pm: Lack of latest inventory lows features to extra beneficial properties forward, Ned Davis saysrecords compiled by Ned Davis analysis shows the market could have further upside. The firm stated on Monday that, between can also 29 and June 19, there were no 52-week lows posted by means of stocks listed in primary U.S. exchanges. "in the 33% of the time new lows were particularly low, the S&P 500 has surged ahead by a hypothetical 15% once a year," stated Ned Davis, the company's founder, in a notice. "No bearish management is extremely good information." —Imbert
12:31 pm: listed below are one of the most greatest movers midday:click here to read more. —Imbert
12:09 pm: past Meat down virtually 9% after downgradeShares of the option meat enterprise plunged very nearly 9% after Barclays downgraded the inventory to underweight from obese, citing uncertainty across the restaurant industry and a convalescing meat deliver chain. The inventory started falling in premarket buying and selling and opened at $133.sixty five per share. It turned into most these days buying and selling at roughly $129 per share. —Pound
11:forty eight am: Markets at midday: shares rally to birth the weekThe principal averages had been up sharply around midday after mighty positive aspects from Boeing whereas merchants shrugged off a listing start in coronavirus situations suggested in the U.S. The Dow traded 438 aspects larger round midday, or 1.7%. The S&P 500 changed into up 1.1% whereas the Nasdaq Composite received 0.eight%. —Imbert
eleven:09 am: earnings advice down drastically from prior yearsThe variety of corporations which have given salary information for the second quarter is down more than 60% from the average over the last 5 years, according to FactSet. Many corporations withdrew or not ever issued suggestions because the coronavirus pandemic slowed the national economy to a crawl. the shortcoming of counsel could lead to better than standard transformations between Wall highway estimates and pronounced effects when revenue season picks up again. —Pound
10:57 am: Florida case boom slows, however fantastic fee risesFlorida established 5,409 new coronavirus situations on Sunday, the state's health department mentioned Monday, down from 8,424 new instances demonstrated on Saturday. however, the p.c of total checks that got here back advantageous rose to 13.sixty seven%, up from 12.21% suggested the previous day. shares moved higher following the information, with the Dow now buying and selling greater than 400 points larger. —Feuer, Pound
10:35 am: NYSE advancers lead decliners three-1About three stocks rose for every decliner on the big apple stock change as Wall road tried to shake off a checklist spike in coronavirus situations over the weekend. FactSet records confirmed 2,126 NYSE-listed names have been larger whereas 642 stocks declined. —Imbert
10:10 am: Most fund managers see next 20% inventory market circulate as lower- surveyCitigroup's quarterly fund managers survey shows about 70% accept as true with the next 20% circulation in shares should be lower, not greater. Sixty-two p.c now see Democrat Joe Biden successful the White residence, in comparison to 70% who anticipated President Donald Trump to be re-elected , again in December. The survey turned into evenly split on the presidential election in March. The managers are additionally maintaining twice the amount of money as that they had last June, and they are more reluctant to position new cash to work in stocks than they have been in March. —Domm
10:07 am: Pending home income surge a list 44.three% in may additionallydomestic buyers flooded into the market in may also because the economy starts to get well from the coronavirus pandemic. Pending home sales spiked an exquisite forty four.3% in might also compared with April, the national association of Realtors pointed out Monday. it really is the greatest one-month bounce in the historical past of the survey, which dates again to 2001. The analyzing beat expectations of a 15% profit, in line with Dow Jones. New coronavirus scorching spots and persevered unfold of the sickness could derail the fashion some economists say. — Fitzgerald
10:01 am: bank stocks upward thrust forward of dividend announcementsShares of foremost banks moved greater in early trading as the announcement of dividend plans looms after the bell. Shares of JPMorgan Chase, Citigroup and Wells Fargo all rose greater than 1% on Monday morning. Wells Fargo is considered by means of many on Wall highway as prone to announce a dividend reduce following the Federal Reserve's decision last week to tie dividend limits to revenue. —Pound
9:fifty eight am: customer staples outperformThe S&P 500 purchaser staple sector rose more than 1% on Monday, in comparison to the S&P 500 moderate losses in morning buying and selling. Shares of Procter & Gamble gained 1.7%, while Clorox rose 0.5%. Walgreens also climbed 2.5%. –Li
9:50 am: big tech struggles in early tradingThe Nasdaq Composite slipped 0.6% within the opening minutes of buying and selling as mega-cap tech shares misplaced ground. Shares of fb, which has seen essential advertisers pull their company in accurate days, dropped three%. Amazon's stock fell 1.eight%, whereas Alphabet and Microsoft had been additionally trading in poor territory. —Pound
9:42 am: S&P 500 and Nasdaq turn poorThe S&5 500 and Nasdaq Composite turned terrible presently after the hole bell. Shares of expertise businesses slid. A resurgence in coronavirus circumstances over the weekend could be pressuring equities. — Fitzgerald
9:31 am: shares beginning the week within the green, Dow up 200 featuresU.S. equities began the week on a powerful foot with all three predominant averages registering gains. The Dow Jones Industrial average rose 206 features, helped by a 6% bounce in Boeing. The S&P 500 rose 0.55% and the Nasdaq jumped 0.25%. — Fitzgerald
9:21 am: past Meat falls after double downgrade from BarclaysShares of beyond Meat sank greater than 4% in premarket buying and selling after Barclays downgraded the inventory by way of two notches, to underweight from obese. CNBC professional subscribers can read greater about the mover here. —Pound
9:00 am: credit Suisse downgrades theaters as cases upward thrustAnalysts at credit score Suisse downgraded movie theater chains after rising cases of the coronavirus led some areas to pause or roll again reopening plans and resulted in extra delays in predominant summer film releases. The company downgraded AMC amusement to underperform from neutral, slashing its cost goal in half to $2 per share, and Cinemark Holdings to impartial from outperform. credit Suisse's new goal for Cinemark is $13 per share, down from $20. Shares of AMC dropped more than 7% in premarket buying and selling, while Cinemark fell 3.1%. —Pound
8:45 am: fb shares below force as extra advertisers be a part of boycottfacebook's inventory fell more than three% in premarket trading Monday as greater groups spoke of they're going to pause promoting on its structures. on account that Friday, Starbucks, Coca Cola and Guinness-father or mother Diageo all announced they'll halt advertising on social media. The flow is viewed as part of a broader effort among a growing to be variety of agencies to drive social media systems to crack down on hate speech and disinformation on their systems. For its part, Starbucks talked about in a press observation that it believes "in bringing communities together, both in person and online, and they stand against hate speech." — Franck
8:forty two am: Gilead shares soar after it sets fees for coronavirus medicineGilead Sciences noted it might birth charging for its coronavirus medicine remdesivir, sending shares up well-nigh three% in premarket trading. The Foster metropolis, California-based drugmaker estimated the can charge at $three,a hundred and twenty for a customary U.S. patient with business coverage. The price for governments in developed countries will be $390 per vial, while private U.S. insurers pays $520, meaning that Medicare sufferers will pay less than those with private assurance. The standard treatment is a five-day route entailing six vials, the company said. – Cox
eight:23 am: Coronavirus cases proceed to upward thrust as extra areas preclude actionsCoronavirus instances rose by way of 85,632 over the weekend amid a continued surge in hotspots in the South and West. That upward thrust represented a three.5% boost from Friday to Sunday, in accordance with the Covid monitoring challenge. Deaths, which can be a lagging indicator, grew by means of 779 to 119,429, or 0.7%. based on the enhance in cases, a few governors and local officers have begun reimposing restrictions. Texas has shut down bars and a few Florida shores are closing as neatly. Florida saw 18,a hundred and fifteen new circumstances over the weekend, a 14.7% surge, even though hospitalizations increased simply 1.eight%. Arizona, a different challenge area, saw an additional 7,360 situations within the two-day length, up eleven%, while hospitalizations rose 2.2%. – Cox
8:19 am: Shares of Coty surge very nearly 20% on KardashianShares of cosmetic company Coty jumped 18% in premarket trading on Monday following news that the business will buy a 20% stake in Kim Kardashian West's make-up company. Coty had stated prior this month that it turned into speakme to Kardashian West about a probable collaboration. Coty can pay $200 million for the partial ownership. here is Coty's 2d contend with the Kardashian/Jenner family unit this yr, having already taken a fifty one% stake in Kylie Jenner's brands. — Fitzgerald
8:09 am: Boeing soars ahead of check flightsShares of Boeing jumped 7.7% as the aerospace huge receives set for re-certification flights of the 737 Max, which has been grounded by regulators for more than a year following two deadly crashes. The flights are scheduled to begin Monday and may acquire records for regulators to examine no matter if the fixes made to the aircraft are adequate for it to come to business fleets. —Pound
8:02 am: Southwest jumps on Goldman upgradeGoldman upgraded shares of Southwest on Monday to purchase from promote and raised its 12-month rate goal to $forty seven per sahre from $35 per share, sending shares of the airline up virtually four% in premarket trading. The enterprise mentioned the airline trade is managing its money burn improved-than-expected and likes Southwest for its domestic focal point. "We expect its essentially home network and industry-main steadiness sheet to power a relatively quicker and more desirable recovery from the COVID-19-driven downturn fashionable for air go back and forth," Goldman talked about in a word. Goldman additionally pointed out a resurgence in coronavirus cases isn't helping the recuperation of the ailing industry. — Fitzgerald
7:forty am: inventory futures upward push despite a surge in U.S. coronavirus instancesstock futures have been higher in morning trading on Monday at the same time as coronavirus instances in the U.S. persisted to surge. The Dow Jones Industrial normal futures climbed about 140 elements, indicating a gap benefit of about 200 elements. S&P 500 futures received 0.three%. Nasdaq-one hundred futures had been a little reduce. The strikes in futures market followed per week of sharp losses because the contemporary spike in virus situations raised considerations in regards to the tempo of the economic healing. The Dow and the S&P 500 had been on tempo to submit their first month-to-month decline in three. — Li
— with reporting from CNBC's Jeff Cox, Fred Imbert, Will Feuer, Tom Franck and Leslie Josephs. .
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