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Wall Street dips on news of Apple Store closures, prospects of new shutdowns

Wall Street lost ground on Friday, reversing earlier gains as spiking cases of COVID-19 and Apple Inc's announcement of fresh store closures heightened concerns that a new round of lockdowns would be imposed and delay an economic recovery.

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UPDATE 1-Net short dollar positions jump in latest week -CFTC, Reuters

Speculators increased their net short dollar position in the latest week, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data released on Friday. The value of the net short dollar position rose to $15.69 billion in the week ended June 16, compared with a net short of $9.51 billion the previous week. In a wider measure of dollar positioning that includes net contracts on the New Zealand dollar,

TREASURIES-Yields erase earlier rise on concerns about spread of coronavirus

U.S. Treasury yields gave up earlier gains on Friday as the spread of the novel coronavirus in some U.S. states cast doubts on whether the economy will bounce back as quickly as hoped. Apple Inc said on Friday it is temporarily shutting some stores again in Florida, Arizona, South Carolina, and North Carolina. California, North Carolina and a string of U.S. citi

Oaktree's Marks says odds not in investors' favor in stock rally

The massive stock market rally in the midst of the coronavirus pandemic has been built largely on optimism and has overlooked potential negatives that could end up catching investors off guard, Howard Marks, co-founder of Oaktree Capital Management, said in a client note.

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