Dollar Heads for Weekly Gain as Euro, Tech Shares Fall

Biden Suggests Followers of QAnon Need Mental Health Care

Democratic presidential nominee Joe Biden on Friday suggested mental health care for followers of the QAnon conspiracy theory, a right-wing movement that believes President Donald Trump is fighting a ring of child sex traffickers entrenched in government.

“I’ve been a big supporter of mental health. I’d recommend people who believe it should take advantage of it while it still exists under the Affordable Care Act,” Biden told reporters after a speech about the economy.

“What in God’s name are we doing?,” he continued. “Look at how it makes us look around the world. It’s mortifying. It’s embarrassing. And it’s dangerous. It’s dangerous.”

While many Republican leaders have distanced themselves from the QAnon phenomenon, saying it has no place in the party, Trump has declined to disavow it.

“I don’t know much about the movement other than I understand they like me very much, which I appreciate,” Trump said at a White House briefing last month.

— With assistance by Jennifer Epstein

Argentina closes early restructuring of $41.715 bln local law bonds- stock exchange

BUENOS AIRES, Sept 4 (Reuters) – Argentina closed an early restructuring of $41.715 billion in local law bonds denominated in a foreign currency, a local securities regulator said on Friday.

The statement indicated a 98.1% acceptance rate for the Bonar 2024 bond and 98.5% for the Bonar 2020 bond. (Reporting by Nicolas Misculin; writing by Cassandra Garrison; Editing by Sandra Maler)

Russia scrambles jets to escort U.S. bombers over Black Sea: news agencies

MOSCOW (Reuters) – Russia scrambled eight fighter jets to intercept three U.S. B-52 strategic bombers flying over the Black Sea, Russian news agencies cited the Defence Ministry as saying on Friday.

Russia’s Covid-19 Vaccine Shows Early Success: Report

Russia’s COVID-19 vaccine, Sputnik V, which was approved by the country last month, has shown positive antibody response with no serious adverse events in small human trials, according to preliminary results published in The Lancet journal on Friday.

The report based on two small trials, each involving 38 healthy adults aged between 18 and 60, were given a two-part immunization. The participants were monitored over 42 days and all developed antibodies within the first three weeks

The vaccine, similar to other adenovirus-vectored and mRNA COVID-19 vaccines before it, 2-4 induced broad immune responses. Although not specifically discussed, the results imply a T-helper1-cell-weighted response that might be important for vaccine safety, potentially reducing the risk of antibodydependent enhanced disease.

The vaccine also produced T cell response within 28 days, the researchers said.

“Large, long-term trials including a placebo comparison, and further monitoring are needed to establish the long-term safety and effectiveness of the vaccine for preventing COVID-19 infection The Lancet said.

U.S. health officials had criticized Russia granting regulatory approval to the vaccine before it underwent a wider phase 3 trials.

Philippines: Activists fight to change culture of harassment

The age of sexual consent is 12 years in the Philippines, one of the lowest in the world.

The Congress of the Philippines has filed a bill raising the age of statutory rape to 16 years from 12, which happens to be one of the lowest ages of consent in the world.

And rights groups in the Philippines say despite efforts to advance the rights of women and young girls in the country, progress is slow compared with other countries.

Al Jazeera’s Jamela Alindogan reports from Manila, Philippines.

Oil Futures Settle Sharply Lower For The Day, Shed Over 7% For The Week

Crude oil prices drifted lower on Friday, extending recent losses amid continued concerns about the outlook for gasoline demand and easing of production cuts by leading oil producers.

A slightly firmer U.S. dollar on the back of another increase in U.S. employment, albeit at a slower pace, and a drop in unemployment rate, also weighed on crude oil prices.

West Texas Intermediate Crude oil futures ended down $1.60 or nearly 4% at $39.77 a barrel, after hitting a high of $41.87 a barrel early on in the session.

WTI Crude oil futures shed over 7% in the week, recording a weekly loss after four successive weeks of gains.

Brent crude futures drifted down $1.41 or about 3.2% to $42.66 a barrel.

According to a report from Baker Hughes, the total weekly active drilling rig count increased by 2 to 256 this week. The weekly oil-rig count, meanwhile, was up by 1 to 181 in the week.

Sharp reductions in crude output by OPEC and allies since May pushed up crude oil prices for the past several weeks. However, with oil producers deciding to ease production cuts, output has increased by about 950,000 barrels a day and has weighed on oil prices for the past few sessions.

Neiman Marcus expects to emerge from bankruptcy by end of this month

Sept 4 (Reuters) – Neiman Marcus Group said on Friday it expected to emerge from Chapter 11 bankruptcy by the end of this month under a restructuring plan that is likely to eliminate more than $4 billion of its debt.

The high-end retailer said certain institutional investors will fund a $750 million exit financing package. (reut.rs/3lQGqFE) (Reporting by Uday Sampath in Bengaluru; Editing by Maju Samuel)

Dollar Heads for Weekly Gain as Euro, Tech Shares Fall

The U.S. dollar is on pace for its biggest weekly advance since June as strength in the euro currency ebbed and as American technology shares slumped.

The euro fell for a fourth day after reaching the highest level since May 2018 on Tuesday. That day, the shared currency began its descent after ECB chief economist Philip Lane expressedconcern over its strength, spurring speculation the central bank will ease monetary policy further.

The Nasdaq Composite Index was on course for its largest two-day slump since March as mega-cap technology names slid following a report that outsize option trades by one firm were responsible for their recent run-up.