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13Dec2016 Pre-Market Commentary: US Stock Future Indexes To Open Fractionally Higher As Trump Rally Continues, Fed Starts Two-Day Meeting And Expected To Raise Rates

Written by Gary

Wall Street futures pointed to a higher open this morning (SPY +0.3%), continuing the post-election rally, as the Fed began its two-day meeting and is widely expected to hike rates. The dollar lost ground, Crude prices remain unchanged and Gold slipped lower.


Here is the current market situation from CNN Money

European markets are higher today with shares in London leading the region. The FTSE 100 is up 0.70% while France's CAC 40 is up 0.57% and Germany's DAX is up 0.54%.

What Is Moving the Markets

Here are the headlines moving the markets.

Futures higher ahead of Fed meeting

(Reuters) - U.S. stock index futures were higher on Tuesday, ahead of a two-day Federal Reserve meeting that is expected to raise interest rates for only the second time since the financial crisis.

Trump's tough trade talk makes U.S. firms fear China retribution

CHICAGO/WASHINGTON (Reuters) - U.S. President-elect Donald Trump's challenges to China on trade and Taiwan are rattling American companies who have long benefited from stable relations between the two countries but now fear retaliation by Beijing if Trump were to act.

British pension funds warn on any Fox/Sky deal

LONDON (Reuters) - British public sector pension funds on Tuesday called for an "appropriate" premium in any potential deal between Twenty-First Century Fox and Sky as well as for safeguards to protect minority shareholders.

U.S. import prices post largest drop in nine months

WASHINGTON, (Reuters) - U.S. import prices recorded their biggest drop in nine months in November on declining petroleum costs, with renewed dollar strength threatening to

Silicon Valley VCs are growing wary of on-demand delivery

(Reuters) - Michael Moritz - chairman of Sequoia Capital and one of the most successful venture capitalists in history - says a simple vision led him to invest hundreds of millions of dollars in on-demand delivery startups.

Iran says Boeing to provide financing for firm's first six planes: Fars news agency

BEIRUT (Reuters) - Boeing has agreed to provide financing for the first six planes it sells to Iran, Iran Air chief Executive Farhad Parvaresh was quoted as saying by Fars news agency on Tuesday.

Oil prices rise as Middle East producers confirm supply cuts

LONDON (Reuters) - Oil prices rose on Tuesday, supported by strong demand in Asia and supply cuts by Abu Dhabi, Kuwait and Qatar as part of production curbs organized by OPEC and other exporters.

Abandoned CBS, Viacom merger leaves scale issue lingering

(Reuters) - Sumner Redstone's holding company National Amusements Inc's decision to abandon a merger of its prized media assets, CBS Corp and Viacom Inc, leaves them under pressure to buy or partner with peers in an industry where scale matters.

Japan's Asahi expands in Europe with AB InBev beer deal

TOKYO/LONDON (Reuters) - Asahi Group Holdings will buy a group of eastern European beer brands from Anheuser-Busch InBev for 7.3 billion euros ($7.8 billion), boosting its presence in the region in the largest overseas beer deal by a Japanese brewer.

Is The Deep State At War... With Itself?

Submitted by Charles Hugh-Smith via OfTwoMinds blog,

This is a blatantly politicized "report" that is not supported by any evidence, nor is it supported by the other 16 intelligence agencies.

The recent pronouncement by the C.I.A. that Russian hackers intervened in the U.S. presidential election doesn't pass the sniff test--on multiple levels. Let's consider the story on the most basic levels.

1. If the report is so "secret," why is it dominating the news flow?

2. Why was the "secret report" released now?

3. What actual forensic evidence is there of intervention? Were voting machines tampered with? Or is this "secret report" just another dose of fact-free "fake news" like The Washington Post's list of 200 "Russian propaganda" websites?

4. The report claims the entire U.S. intelligence community is in agreement on the "proof of Russian intervention on behalf of Trump" story, but then there's this:

"The C.I.A. presentation to senators about Russia's intentions fell short of a formal U.S. assessment produced by all 17 intelligence agencies. A senior U.S. official said there were minor disagreements among intelligence officials about the agency's assessment, in part because some questions remain unanswered."

Given that the N.S.A. (National Security Agency) was so secret that its existence was denied for decades, do you really think the NSA is going to go public if it disagrees with the C.I.A.?

Given the structure of the Deep State and the intelligence community, "minor disagreements" could well mean complete, total disavowal of the C.I.A.'s report.

That this is the reality is suggested by the F.B.I.'s denuncia ...

In Dramatic Heist, French Robbers Steal $1.5 Million In Gold From Armored Truck

While not nearly as brazen as the recent theft of a bucket full of $1.6 million in gold from an armored truck in midtown Manhattan, French police said they are hunting for four men suspected of stealing 70 kilograms of gold worth an estimated 1.5 million from an armored truck Monday before setting cars ablaze near a major highway and fleeing.

Seemingly inspired by a combination of The Usual Suspects and The Italian Job, the robbers, operating in multiple cars, surrounded the armored truck and forced it off the A6 highway between Paris and Lyon, a national gendarme service spokesman and a judicial official said, cited by ABC. They then seized the gold, locked the two delivery men in the back of the truck, and set one of their own cars on fire before fleeing, according to the spokesman.

Tthe flames then spread to three cars nearby and were threatening to engulf the armored truck as well, but local police intervened thanks to a tipoff from a witness and rescued the two men in time. The other cars were unoccupied, the judicial official said.

Police vehicles and a helicopter searched the surrounding fields and forests Monday near the town of southeastern town of Dardilly, the spokesman said. The spokesman and judicial official spoke on condition of anonymity to be able to give details about an ongoing investigation. Scientific police studied the charred hulls of the cars and the empty truck, operated by security company Loomis.

While Fran ...

Silver Fixing By Banks Proven In Traders Chats

Silver Bullion Manipulation By Banks Proven In Traders Chats


  • Evidence of traders rigging the silver market

    Court documents detail private chats between bank traders

    Lawsuit alleges widespread rigging of precious metal market

    "Avalanche can be triggered by a pebble if u get the timing right" - UBS trader

    "If we are correct and do it together, we screw other people hard" - UBS trader

    Since 2003, we have believed and written about how the silver and gold markets are manipulated and "fixed" by banks. Even then there was circumstantial evidence to suggest this was the case.

    Now we have definitive proof and the smoking gun that the "silver market mafia" in the form of leading bullion banks - such as Deutsche Bank, UBS and HSBC - were coordinating the manipulation of the price of silver and suppressing prices as alleged by the Gold Anti Trust Action Commitee (GATA).

Frontrunning: December 13



Trump Picks Exxon Chief for State Amid Concerns (Reuters)

Buoyant Markets Pose New Challenge for the Fed (WSJ)

Tweeter-in-Chief Trump Faces Test After Yellen's Rate Decision (BBG)

Trump Dissing Daily Intelligence Briefing Worsens Rift With CIA (BBG)

SWIFT confirms new cyber thefts, hacking tactics (Reuters)

UniCredit share issue lifts banks before Fed meeting (Reuters)

Senate Republican leader backs investigation into Russian hacking (Reuters)

U.S. intelligence officials say Russian hacks 'prioritized' Democrats (WaPo)

Merkel, Hollande back extending sanctions on Russia over Ukraine (Reuters)

Billionaire's Son Not Interested in Taking Over Father's $91 Billion Business (BBG)

Japan's Asahi Buys Eastern Europe Brewing Assets From AB InBev (

Investors Can Clean Up With Italy's Biggest Bank

For investors to back UniCredit's new proposition, they will have to believe that its low returns come with very low risk, especially in a country that is the byword for fears of instability.

Asahi's European Beer Binge Leaves Bitter Taste

Asahi's $7.8 billion purchase of Eastern European beer brands looks to be at a high price.

Mind the Shock as Auto Investing Turns Electric

Battery-powered electric cars outsold gasoline ones at the dawn of the automotive age. In a decade or so they may well do so again. Investors need to watch out they don't get caught on the wrong side of history.

Import and Export Price Year-over-Year Deflation Moderated Again in November 2016.

Written by Steven Hansen

Import and export prices continue to deflate year-over-year - although the year-over-year rate of deflation again moderated this month - with import prices now barely deflating.

Howard Gold's No-Nonsense Investing: America's divide over Donald Trump has spilled over into investing

Investors ought to forgo partisanship and focus on making money, writes Howard Gold.

Market Snapshot: Dow set to open higher, marching closer to 20,000

The Dow Jones Industrial Average looked set to continue its advance toward 20,000 as stock futures pointed toward a higher open for U.S. equities.

Caroline Baum: At last, all those words from the Fed will come to something

All that talk from the Fed over the past year about raising interest rates will finally bear fruit, but Caroline Baum thinks the Fed could learn to say more by talking less.

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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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