Wall Street futures pointed to a lower open this morning (SPY -0.2%), as investors looked ahead to consumer sentiment data and an appearance by the Fed vice chair at the Federal Reserve. The global bond market has lost more than $1 trillion this week and WTI crude futures have fallen -2.0%.
Here is the current market situation from CNN Money
European markets are mixed. The DAX is higher by 0.44%, while the FTSE 100 is leading the CAC 40 lower. They are down 1.21% and 0.42% respectively.
BRUSSELS (Reuters) - The European Commission has asked the United States about a secret court order Yahoo used to scan thousands of customer emails for possible terrorism links, following concerns that may have violated a new data transfer pact.
WASHINGTON (Reuters) - Billionaire investor Warren Buffett, who strongly criticized Republican President-elect Donald Trump during his campaign against Democrat Hillary Clinton, said the stock market is poised to rise long-term regardless of the U.S. election outcome.
NEW YORK (Reuters) - Donald Trump's surprise victory in the U.S. presidential race is pushing mutual fund managers out of dividend stocks and into the shares of financial, industrial and materials companies that stand to benefit from rising inflation.
NEW DELHI (Reuters) - Cyrus Mistry, who was ousted as Tata Sons' [TATAS.UL] chairman last month, will stay on as chairman of group company Tata Steel , television channel ET Now reported on Friday, citing sources.
LONDON (Reuters) - OPEC reported an increase in its oil production in October to a record high led by members hoping to be exempt from the producer group's attempt to curb supply, pointing to an even larger global surplus next year.
AMSTERDAM (Reuters) - TomTom's order intake from carmakers is currently lagging last year's, but the emergence of rival Here backed by a trio of German automakers means other manufacturers are keener to do business with the Dutch navigation firm, its CEO said on Friday.
(Reuters) - J.C. Penney Co Inc reported a surprise 0.8 percent fall in quarterly comparable-store sales on Friday, reflecting weak traffic, increased competition from online and off-price retailers and a general shift away from spending on apparel.
TOKYO/MARYSVILLE (Reuters) - Japan's top automakers are shuffling their U.S. product portfolios and resorting to larger imports of popular models there as they scramble to meet booming demand for gas-guzzling SUVs and trucks in the world's No. 2 auto market.
It was the third consecutive night of anti-Trump protests taking place in various US cities, with Oakland once again a venue of extensive looting and arrests under the guise of "peaceful" protesting, especially since as we reported, the local mayor admitted the police is now powerless to take on looters...
From OPD on tonight's protest: at least 11 arrests. 7 citations. 7 vandalized #Oakland buildings. No injuries. pic.twitter.com/9SwPCbQHlZ
— Michael Bodley (@michael_bodley) November 11, 2016
... but the real epicenter was Portland, Oregon, once famed as "Little Beirut" for its opposition to George H.W. Bush, and the city which the Associated Press declared as the center of America's anti-Trump feeling, where at least 26 people were arrested during anti-Trump protests the police said, adding that officers deployed stun grenades, pepper spray, "rubber ball distraction devices" and various other non-lethal munitions to disperse the rally. The demonstration against President-Elect Donald Trump has gathered for yet another night in the Pacific Northwest city.
According to Wilamette Week, Portland Police have deployed stun grenades and rubber bullets on protesters near Pioneer Courthouse late tonight, after anarchists smashed the windows of shops in downtown and the Pearl District.
In the beginning it was cute: the dollar - and bond yields - soared on expectations Trump was going to make inflation great again, thanks to a massive, $5 trillion excess debt-funded fiscal stimulus package, sending financial stocks into the stratosphere and the Dow Jones to record highs, even as the last two US bond auctions, a 10Y and 30Y were about as dismal as they come, and even as carry trades across the globe imploded on collapsing rate differentials, slamming emerging market currencies, including China, into the ground. It prompted us to muse yesterday if "markets are ignoring EM FX carnage because there will be no trade in the future?"
Are markets ignoring EM FX carnage because there will be no trade in the future?
— zerohedge (@zerohedge) November 10, 2016
However, after another night of a soaring dollar, the market no longer ignored the EM FX carnage, and overnight central banks from India to Indonesia stepped in to stabilize their currencies and the yen snapped a five-day losing streak as an Asian market selloff deepened on concern Donald Trump will pursue policies that spur capital outflows from developing economies and weaken their exports.
The yen strengthened against all except one of its 31 major peers on haven demand. As Bloomberg notes, the Indonesian rupiah, Indian rupee and South Korean won were among the worst performers. Trum ...
Week 44 of 2016 shows same week total rail traffic (from same week one year ago) marginally expanded according to the Association of American Railroads (AAR) traffic data. Rolling averages remain in contraction - but are improving.
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