(Bloomberg) — Stock investors are taking heart from India’s efforts to re-open its economy, even as the nation continues on a trajectory to overtake the U.S. as the country with the most coronavirus cases.


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The S&P BSE Sensex’s has rallied almost 12% since hitting a more than two-month low on Sept. 24, the best performance among the world’s national equity benchmarks, according to data compiled by Bloomberg. It is less than 2% away from wiping out its losses for the year.

A Jefferies Financial Group Inc. model tracking economic recovery last week showed activity in India is already at 93% of pre-Covid levels. The nation is set to further relax restrictions on gatherings of people and allow schools, multiplexes and entertainment parks to reopen in some areas from Oct. 15.

“A higher-than-expected level of economic reopening, coupled with various steps from policy makers, creates an upside risk for GDP and earnings estimates, said Sameer Kalra, a strategist at Mumbai-based Target Investing. “There is a good chance that third-quarter GDP shows a recovery and then the Sensex hits a record by December,” he said.

chart, line chart: India's earnings estimates have risen from this year's low in July

© Bloomberg
India’s earnings estimates have risen from this year’s low in July

The Sensex capped its best week since early June on Friday as the central bank signaled more policy easing ahead and announced a slew of liquidity steps to support the economy. In the past few days, data showing a mild improvement in some economic indicators and optimism over earnings results from a few major firms have also helped boost investor sentiment.

Maruti Suzuki India Ltd., the biggest carmaker, posted its highest monthly sales in two years in September as an end to a nationwide lockdown prompted dealerships to stock up ahead of a festive season.

“India has started to outperform EM more

By Liz Weston

The mystery isn’t why so many people file for bankruptcy each year. It’s why more people don’t.

Each year, only a fraction of the Americans who could benefit financially from bankruptcy actually seek relief. Economists say some don’t file because collectors aren’t aggressively pursuing them, while others may strategically delay filing because bankruptcy could benefit them more down the road.

Many bankruptcy attorneys have a much simpler explanation: Fear, a lack of information and misplaced optimism keep people from getting a fresh start.

A Temporary Pause

About 14% of U.S. households — or roughly 17 million — owe more than they own, according to Federal Reserve Bank of New York estimates. Many of these households could benefit from having their debts wiped out, but fewer than 1% of U.S. households actually file for bankruptcy each year. Last year, there were 752,160 personal bankruptcy filings. Researchers refer to this gap as “missing bankruptcies” — the filings that could be happening, but aren’t.

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Now, there’s an additional set of missing bankruptcies: the cases people normally would have filed in recent months, but haven’t. Bankruptcy filings dropped dramatically in the second quarter of this year, to about 60% of the average for the previous five years.

Courthouses were shuttered by pandemic closures, which made it harder for creditors to pursue foreclosures and wage garnishments. Those are two big drivers of consumer bankruptcy filings, says David Cox, a bankruptcy attorney in Lynchburg, Virginia, and co-author of “Consumer Bankruptcy: Fundamentals of Chapter 7 and Chapter 13 of the U.S. Bankruptcy Code.”

Borrowers have benefited from various forms of coronavirus relief, such as suspended payments on federal student loans, mortgage forbearance and expanded hardship options for loans

DraftKings  (DKNG) – Get Report stock continues to move well. While the shares are down about 1% on Tuesday, the stock had earlier hit an all-time high in the session at $59.45.

Even with Tuesday’s dip — which comes as some NFL teams suspend activity due to the coronavirus — DraftKings stock is still up more than 5.5% for the week.

What’s going on in the broader market doesn’t seem to matter. While the indexes have been swaying, DraftKings and Penn National (PENN) – Get Report investors don’t seem to care.

Admittedly, these names don’t necessarily trade without volatility. But the pullbacks have been shallow as buyers continue to gobble up the dips.

Let’s take a closer look at DraftKings now that the stock has pushed up to new highs.

Trading DraftKings Stock

Daily chart of DraftKings stock.

Daily chart of DraftKings stock.

Earlier this month, the stock pushed up to the 161.8% extension, where it promptly met resistance. While DraftKings stock held up for a few days, sellers were eventually able to push it lower.

But that dip didn’t last long, with the 10-day moving average ultimately holding as support. With a multiday rally unfolding, DraftKings stock on Monday was able to close above the 161.8% extension.

The bulls would love to see this extension hold as support. If that remains the case, they will be looking for a rotation through Tuesday’s high and north of $60. On the upside, see how the shares handle the two-times range extension up at $62.04.

Ultimately, the bulls will likely be looking for a push up to the 261.8% extension, near $72.70.

On the downside, look to see how DraftKings stock handles another dip to the 10-day moving average. Below could open the door to an eventual retest of

BRUSSELS (Reuters) – Alphabet’s Google is set to win EU antitrust approval for its $2.1 billion purchase of fitness tracker maker Fitbit to take on Apple and Samsung in the wearable technology market, people familiar with the matter said.

FILE PHOTO: Fitbit Blaze watch is seen in front of a displayed Google logo in this illustration picture taken, November 8, 2019. REUTERS/Dado Ruvic/File Photo

The world’s most popular internet search engine on Tuesday offered fresh concessions to the European Commission in a bid to address concerns the deal could entrench Google’s power in online advertising and boost its trove of data.

Google said it had offered to restrict the use of Fitbit data for Google ads and would also tighten the monitoring of that process, confirming a Reuters report. The offer is based on a July proposal.

“We’re also formalizing our longstanding commitment to supporting other wearable manufacturers on Android and to continue to allow Fitbit users to connect to third party services via APIs (application programming interfaces) if they want to,” Google said in a statement.

Third parties will also continue to have access to Fitbit users’ data, with users’ consent.

The concessions, reported earlier by Reuters, are set to clear the way for the deal to be approved, the people said.

The Commission, which is scheduled to decide on the deal by Dec. 23, declined to comment. Its decision could come earlier than the deadline.

The EU competition enforcer will now seek feedback from rivals and customers before deciding whether to accept Google’s concessions, demand more, or either clear or block the detail.

Last month, it rejected Google’s pledge not to use the fitness tracker’s data for advertising purposes in a bid to address competition concerns, saying that it was insufficient.

The deal has drawn criticism from healthcare