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19Aug2016 Pre-Market Commentary: Wall Street To Open Lower As Investors Wait For Fed Signals Of A Rate Increase, Gold Falling, US Dollar Rising, Short-Term Indicators Are Bearish

Written by Gary

US stock future indexes are trading lower this morning (SPY -0.3%), erasing yesterday's gains, while investors continued to watch signals from the Fed and kept an eye on the recent rally in oil. Crude prices have entered a bull-market, gaining more than 20% since August lows. Gold has fallen precipitously this morning while the US dollar is melting up from its lows.


Here is the current market situation from CNN Money

What Is Moving the Markets

Here are the headlines moving the markets.

Futures dip; earnings season ends, rate hike timing in focus

(Reuters) - U.S. stock index futures were lower on Friday after a week of choppy trading as the corporate earnings season winds down and investors again focus on the timing of the Federal Reserve's next interest rate hike.

Viacom and controlling shareholder Sumner Redstone agree on settlement: sources

NEW YORK (Reuters) - - Viacom Inc and controlling shareholder Sumner Redstone have come to an agreement on terms of a settlement that would result in the departure of Chief Executive Philippe Dauman, two sources familiar with the situation told Reuters on Thursday.

Fed's Williams says September rate hike makes sense

ANCHORAGE (Reuters) - San Francisco Federal Reserve Bank President John Williams on Thursday joined a growing chorus of his colleagues signaling support for a U.S. interest rate hike in coming months, saying that waiting too long could be costly for the economy.

Pokemon Go spurs lifestyle changes, business boom as it rolls out in Asia

JAKARTA (Reuters) - Asian fans of smartphone game Pokemon Go are hunting out the best telecom providers and network gear to overcome the hurdle posed by patchy network signals in their race to capture virtual cartoon characters.

U.S. judge rejects Uber's driver expenses settlement

SAN FRANCISCO (Reuters) - A U.S. judge on Thursday rejected an attempt by Uber Technologies Inc to settle a class action lawsuit with drivers who claimed they were employees and entitled to expenses.

Goldman seeks to force ex-employee in Fed leak case to arbitrate

NEW YORK (Reuters) - Goldman Sachs Group Inc filed a lawsuit on Thursday seeking to force a former managing director to arbitrate his claim for legal fees stemming from probes into his alleged use of confidential Federal Reserve documents.

Eddie Bauer says malware used to access payment card data

(Reuters) - Retailer Eddie Bauer LLC said on Thursday customers' payment card information used at its stores may have been accessed by unauthorized parties.

Gap's profit forecast misses as Banana Republic remains weak

(Reuters) - Gap Inc forecast a full-year profit below analysts' estimates as the apparel retailer struggles to attract shoppers to its Banana Republic stores.

Labor market firming; factories still struggling

WASHINGTON (Reuters) - The number of Americans filing for unemployment benefits fell more than expected last week, reinforcing views of labor market strength that could encourage the Federal Reserve to raise interest rates soon.

French Rabbi Stabbed By Muslim Assailant, Screaming "Allah Akbar"

In the latest knife attack in Europe, earlier this morning ago a Jewish man, described as a Rabbi, was stabbed by a Muslim attacker in the French city of Strasbourg, according to local media sources. He is has been taken to hospital and is in a stable condition, while the perpetrator has been arrested and is being questioned by police.

FRANCE: Jewish man stabbed & moderately wounded by a Muslim in Strasbourg, attacker arrested. pic.twitter.com/GfZnSVfQMe #morningjoe #Israel

— jaazee (@jaazee1) August 19, 2016

The victim, who has been named as Mr. Levy, is reported by a colleague to be a rabbi. He was stabbed by a man who shouted "Allah Akhbar", according to the 20minutes news platform.

According to RT, the attack took place at around 11:00am local time (09:00 GMT). Mr. Levi, who has been described as an Orthodox Jew, was sitting at a café on the sidewalk, reports Le Parisien.

Je viens de voir M. Levy, victime d'une attaque au couteau. Sa situation est stable. Prions pour son établissement rapide.#Strasbourg

— Mendel Samama (@EURORabbi) August 19, 2016

"I just spoke to Mr. Levy, who was the victim of a knife attack and is condition is stable," said Mendel Samama, who is rabbi based in Strasbourg, Le So ...

Paul Tudor Jones, Facing Redemption Flood, Imposes Minimum Risk Levels, Demands His Traders Take More Risk

Some would call it a classic Martingale laced death spiral.

Just days after it was revealed that as a result of a $2.1 billion surge in redemption requests, would terminate some 15% of his workforce, Bloomberg reports that the legendary macro trader has boosted the amount of money he's managing, including borrowed capital, to more than 50 percent of his main hedge fund's net assets, and is also demanding that all his managers take more risk in their bets, according to an August 16 investor letter.

"We have to think outside the box," Jones, 61, said in the letter. "I firmly believe the changes we have made put us in a position to be successful even in this desultory macro environment."

Confirming just how difficult it is for conventional strategies to generate profits in this environment, in the letter PTJ also says that his remaining managers will be given more money to run, and that some have been paired with scientists and mathematicians to bring new analytical rigor to their trading as part of a quantitative revamp of the firm.

Jones, who started out as a cotton trader before founding his firm, said his firm must have money managers who can adapt to today's zero-interest rate environment, which he expects to continue. The firm is imposing minimum levels of risk that its traders must take to remain in its manager lineup.

Tudor, which Jones founded in 1980, has joined the recent funk that all other comparable macro hedge fun ...

Rothchilds Buying Gold On "Greatest" Money "Experiment" In "History The of World"

The Rothschilds are buying gold through their investment house RIT Capital Partners and Lord Jacob Rothchild is warning about the results of "the greatest experiment in monetary policy in the history of the world".

Reception To Mark The Prince of Wales Medal for Philanthropy 2013

British investment banker Lord Jacob Rothschild is buying gold. Pictured with Joanna Lumley. (Source: Getty)

The Rothchild's investment house has increased its allocation to gold by 8% and aggressively sold quoted equities and sterling to navigate choppy "uncharted waters" post-Brexit. Sale of shares have been used to buy gold and other non-disclosed precious metals, which, at the end of June accounted for 8 per cent of the £2.8 billion portfolio according to the trust's half-year results, released on Tuesday.

"The six months under review have seen central bankers co ...

Frontrunning: August 19



European shares, oil ease as markets return to Fed-watching (Reuters)

Brent crude slides, but on track for third week of gains (Reuters)

Rio 2016: Lochte's Teammates, USOC Join With Police in Discrediting Robbery Story (WSJ)

OPEC Freeze Wouldn't Be So Potent as Gulf Rivals Pump More (BBG)

Hackers targeted Trump campaign, Republican Party groups (Reuters)

Key Figure in 1MDB Probe Is Arrested in Abu Dhabi (WSJ)

VW's German Production Grinding to Halt Over Spat With Supplier (BBG)

NBC's $12 Billion Olympics Bet Stumbles, Thanks to Millennials (BBG)

Ukrainian MP offers more details on alleged payments to Trump campaign chief (Reuters)

Viacom, Sumner Redstone Near Settlement Ousting CEO Philippe Dauman (WSJ)

Merkel sees no end to EU sanctions against Russia (

Cisco: Life by a Thousand Cuts

Cisco wrapped its latest fiscal year by announcing another round of layoffs. But workforce size isn't the main challenge for the network equipment giant.

This Kind of Corporate Debt Gets Bigger as Rates Drop

Investors can expect pension plans in deficit to demand higher contributions at upcoming funding reviews.

Lean Harvest Expected for Deere

More pain is expected for Deere when it reports quarterly results on Friday.

We judge these earnings releases to be a cut above the rest

When companies follow these simple, common-sense steps, they can go a long way.

Outside the Box: 3 reasons why Trump voters won't disappear after November

Quit sneering at Donald Trump's supporters and their discontent. Trump didn't invent this anger; he is merely exploiting three enabling conditions.

Mark Hulbert: Here's evidence the Fed is unlikely to hike rates before Election Day

The Fed since 1990 has never raised interest rates in the two months prior to a presidential election, writes Mark Hulbert.

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

gary@econintersect.com

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