econintersect.com
       
  

FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.



06Jun2016 Pre-Market Commentary: Morning Futures Fractionally Higher Ahead Of Ms. Yellen's Speech, Crude Higher, US Dollar Down Below 94

Written by Gary

US stock future indexes are fractionally higher this morning (SPY +0.33%) ahead of Ms. Yellen's Philadelphia speech this afternoon following a shock non-farm payrolls report on Friday. Crude is higher and more than 25 European and Asian-owned supertankers are now shipping Iranian crude, allowing the Islamic Republic to ramp up exports much faster than expected.


Here is the current market situation from CNN Money

European markets are broadly higher today with shares in London leading the region. The FTSE 100 is up 1.15% while Germany's DAX is up 0.23% and France's CAC 40 is up 0.19%.

What Is Moving the Markets

Here are the headlines moving the markets.

Yellen faces fine balance on Fed rate hike after job growth tumbles

PHILADELPHIA (Reuters) - Federal Reserve Chair Janet Yellen will likely keep the door open to an interest rate hike within the next few months when she speaks on Monday, while striking a balanced tone about recently disappointing jobs growth and mixed signals in the U.S. economy.

Exclusive: As Iran's oil exports surge, international tankers help ship its fuel

SINGAPORE (Reuters) - More than 25 European and Asian-owned supertankers are shipping Iranian oil, data seen by Reuters shows, allowing Tehran to ramp up exports much faster than analysts had expected following the lifting of sanctions in January.

Stock futures up marginally; Yellen in focus

(Reuters) - U.S. stock index futures inched higher on Monday as investors await Federal Reserve Chair Janet Yellen's speech after a shockingly weak jobs report all but killed the prospects of an interest rate hike this month.

BlackRock's $2.5 billion sale: a sign of life for Singapore's office market

SINGAPORE (Reuters) - BlackRock Inc said it would sell a 43-storey Singapore office tower for $2.5 billion - one of at least three office building deals in the last two months for a market gripped by worries about oversupply and rising vacancies.

Devon Energy to get nearly $1 billion from asset sales

(Reuters) - U.S. oil and natural gas producer Devon Energy Corp said it would sell assets in Texas for nearly $1 billion and that it was making progress on the sale of other assets as part of its plan to improve its finances through divestitures.

HSBC to shake up global banking business to cut costs

LONDON (Reuters) - HSBC is to restructure its global banking division to cut costs and make the business more "agile", according to an internal memo seen by Reuters on Monday.

Oracle whistleblower suit raises questions over cloud accounting

SAN FRANCISCO (Reuters) - A whistleblower lawsuit filed against Oracle Corp over its accounting practices underscores the pressures established computer companies face to show that they are growing in the fast-moving business known as the cloud.

Exclusive: NY Fed first rejected cyber-heist transfers, then moved $81 million

DHAKA/NEW YORK (Reuters) - Hours before the Federal Reserve Bank of New York approved four fraudulent requests to send $81 million from a Bangladesh Bank account to cyber thieves, the Fed branch blocked those same requests because they lacked information required to transfer money, according to two people with direct knowledge of the matter.

Cancer drug prices highest in U.S. least affordable in India, China: study

CHICAGO (Reuters) - Americans pay the highest prices in the world for cancer drugs, but the treatments are least affordable in lower income countries, according to the results of a new study released on Monday.

Morgan Stanley's Dour S&P500 Outlook: 5% Of Possible Upside vs 27% Of Downside

The drumbeat of negative sellside macro research reports continued over the weekend, when following virtually every other investment bank, Morgan Stanly was the latest to share "four charts you can't miss", key of which perhaps was the well-known fishhooks chart showing sliding forward EPS estimate every year (with 2014, 2015 and 2016 earnings all now virtually identical), as well as the observation that PE ratios are far higher currently than where they should be based on real TSY yields...

... but what we found most interesting was the bank's forecast matrix. While MS has a year end "base case" S&P500 target of 2,050 - about 50 points lower from where the market will open - it also present its bull and bear case, which are 2,200 and 1,525 respectively, or 5% of potential upside vs 27% of potential downside.

In any other investing climate this unattractive Upside/Downside would be sufficient to pull money from the market, however in this day and age, bad news for the market is implicitly good news for the market as it means even more doubling (tripling, quadrupling) down by central banks to keep it propped up. It may also explain why the S&P is set to open up well above 2,100 on the day after the US economy reported its worst jobs number since 2010.

The Cloud Deal Wave Hasn't Crested Yet

A selloff of cloud-software stocks opened doors for M&A activity, but buyers shouldn't expect bargains.

Long Shadow Hangs Over China's Banks

Chinese banks' shadow balance sheets stuffed with wealth-management products are again on the rise. This time, the sequel is scarier than the original.

Valeant Earnings: Here We Go Again

A first test looms this week for Valeant's new CEO and his attempt to stabilize the embattled drugmaker.

Tips For Identifying Elliott Waves On Your Charts

from Elliott Wave International

The Elliott Wave Principle is based on 5 core Elliott wave patterns, each having hard-and-fast rules, and a handful of guidelines. Here, our master instructor Jeffrey Kennedy gives you his tips for applying the Wave Principle to any chart, in any market, on any time frame.

GDP Forecasting - Can Two Wrongs Make A Right?

from the Atlanta Fed

-- this post authored by Pat Higgins

In a recent macroblog post, I showed that forecasts from the Atlanta Fed's real gross domestic product (GDP) nowcasting model - GDPNow - have been about as accurate a forecast of the U.S. Bureau of Economic Analysis's (BEA) first estimate of real GDP growth as the consensus from the Wall Street Journal Economic Forecasting Survey.

Need to Know: One of the year's biggest contrarian trades could deliver some 'serious gains'

Traders have had all weekend to stew over the lousy jobs report, but it doesn't mean they're any closer to figuring out what impact it'll have on the market in the coming days.

The Wall Street Journal: Apollo Global Management is still in talks to buy Concordia Healthcare

Apollo Global Management LLC is still in talks to buy Concordia Healthcare Corp. after two other private-equity firms walked away over concern that tighter regulatory scrutiny of pharmaceutical companies might hurt the Canadian pharmaceutical company's earnings.

The Wall Street Journal: AMG to buy stakes in 5 money managers in $800 million deal

Affiliated Manager Group Inc. has agree to buy minority stakes in five money managers.

Earnings Summary for Today

Earnings Calendar provided by Investing.com.

leading Stock Positions

Leading Stock Quotes powered by Investing.com

Current Commodity Prices


Commodities are powered by Investing.com

Current Currency Crosses

The Forex Quotes are powered by Investing.com.



To contact me with questions, comments or constructive criticism is always encouraged and appreciated:

gary@econintersect.com

Click here for Historical Releases Listing










Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, using Livefyre just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.



You can also comment using Facebook directly using he comment block below.





Econintersect Live Market

search_box

Print this page or create a PDF file of this page
Print Friendly and PDF


The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.


Take a look at what is going on inside of Econintersect.com
Main Home
Analysis Blog
Reinhard Selten: Pioneering Analyst of Rationality and Human Behaviour
2015 Household Income Up 5.2% Is Just Spin
News Blog
The Dollar - Gold Relationship
Almost Half Of Rape Cases End Without A Conviction
People With 'Obesity Gene' Can Still Lose Weight
The World's Most Generous Countries In 2016
What We Read Today 24 September 2016
Is The Butterfly Effect Real
August 2016 Philly Fed Coincident Index Shows Continuing Slowing Of Economic Rate of Growth
Global Bonds: Why Our Analyst Says Things Just Got "Monumental"
Trends In Expenditures By US Colleges And Universities, 1987-2013
Why Firms In Developing Nations Don't Grow As Fast
Infographic Of The Day: Upcycling Your Rug
Early Headlines: Is Secular Middle East Possible?, Why Cruz Flipped, Bubble Mortgage Crisis Lives On, Current US Housing Cycle, US Abandons Syria Truce, Brazil's New Pres. Investigated And More
The Most Costly Man-Made Disaster
Investing Blog
How To Protect Your Money Against Negative Interest Rates
Technical Thoughts: How Much Risk?
Opinion Blog
There's No Wall Between The Fed And Banco De Mexico
The Setting Sun: Japan Faces Monetary Exhaustion
Precious Metals Blog
War On Cash Turns To $20, $50, And $100 Bills
Live Markets
23Sep2016 Market Close: US Indexes Close Lower As Crude Prices Slip, Fed Lowers Economic Growth Prospects, Indicators Melting Into Bearish Territory
Amazon Books & More






.... and keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government



Crowdfunding ....






























 navigate econintersect.com

Blogs

Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day
Weather

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2016 Econintersect LLC - all rights reserved