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.



09Jan2017 Pre-Market Commentary: U.S. Stock Index Futures Again Directionless This Morning, Crude Prices Falling Sharply, U.S. Dollar Looking Stronger, European Shares Fall

Written by Gary

Wall Street is pointing towards a flat opening in negative territory (SPY -0.1%) in what could be a quiet trading day. U.S. stock market is struggling for direction as the U.S. dollar stood tall against its major rivals and crude prices slid 1.8%.


Here is the current market situation from CNN Money

European markets are mixed. The FTSE 100 is higher by 0.27%, while the CAC 40 is leading the DAX lower. They are down 0.71% and 0.51% respectively.

What Is Moving the Markets

Here are the headlines moving the markets.

European shares fall, sterling dives on Brexit comments

LONDON (Reuters) - The dollar edged up on Monday, boosted by robust U.S. wage growth data that strengthened the case for more U.S. interest rate rises, while Britain's pound fell on comments by Prime Minister Theresa May seen as pointing to a "hard" Brexit.

Oil down on concerns rising U.S. production could dampen output cut deal

LONDON (Reuters) - Oil fell 2 percent on Monday as signs of growing U.S. production outweighed optimism that many other producers, including Russia, were sticking to a deal to cut supplies in a bid to bolster the market.

Mars to buy pet health care provider VCA for $7.7 billion

(Reuters) - Candy and pet food maker Mars Inc said it would buy VCA Inc , which runs hospitals for animals, for $7.7 billion.

Japan's Takeda to buy U.S. cancer drug maker Ariad in $5.2 billion deal

(Reuters) - Japan's Takeda Pharmaceutical Co Ltd said on Monday it would buy cancer drug maker Ariad Pharmaceuticals Inc in a deal valued at $5.20 billion, to beef up its oncology pipeline.

VW executive to appear in Miami court over Dieselgate scandal

DETROIT (Reuters) - Volkswagen executive Oliver Schmidt will appear in Federal Court in Miami, Florida, on Monday, a spokeswoman for the United States Attorney's office in Detroit said.

McDonald's sells most of China, HK business to CITIC, Carlyle for $2.1 billion

HONG KONG (Reuters) - McDonald's Corp has agreed to sell the bulk of its China and Hong Kong business to state-backed conglomerate CITIC Ltd and Carlyle Group LP for up to $2.1 billion, seeking to expand rapidly without using much of its own capital.

Fiat Chrysler ups the ante as automakers respond to Trump

DETROIT (Reuters) - Fiat Chrysler Automobiles on Sunday said it will invest $1 billion to modernize two plants in the U.S. Midwest and create 2,000 jobs, upping the ante as automakers respond to threats from President-elect Donald Trump to slap new taxes on imported vehicles.

Big China bitcoin exchange says no government pressure on outflows

SHANGHAI (Reuters) - The head of a major bitcoin exchange in China says few people there use the cryptocurrency to get around rules on how much money they can take out of the country, and despite a publicized meeting with the central bank last week the exchange, BTCC, hasn't been told explicitly to check capital outflows.

Google shows improved self-driving system in Chrysler Pacifica

DETROIT (Reuters) - Google unveiled its latest self-driving system in a Chrysler Pacifica minivan during a Sunday preview ahead of the Detroit auto show, saying the technology is more reliable and affordable.

Italy Unemployment Unexpectedly Deteriorates To Highest Since June 2015; Youth Unemployment Jumps To 39.4%

While the rest of Europe's troubled periphery has been enjoying a slow, if steady, economic improvement in recent years (it is unclear if it would sustain should the ECB's QE backstop be withdrawn and sovereign interest rates spike), in an unexpected deterioration reported earlier this morning, Italy's unemployment rate rose to the highest level since June 2015, as the country struggles to regain a solid economic footing.

According to Italy's statistics agency Istat, the jobless rate jumped to 11.9% in November, up from a revised 11.8% the month before, and well above the 11.6% consensus forecast. Despite the headline deterioration, there were 19,000 more people employed in Italy in November compared with the month before, Bloomberg reports.

Even more troubling, youth unemployment rose to 39.4 percent, up from 37.6% and the highest since October 2015.

The Italian deterioration stood out across a stable European backdrop: the November unemployment rate for broader euro area was 9.8%, the European Union's statistics office in Luxembourg said later Monday.

US Destroyer Fired Warning Shots At Four Iranian Vessels In Strait Of Hormuz

In the latest dangerously close encounter between US and Iranian navies, Reuters reports that a U.S. Navy destroyer fired three warning shots at four of Iran's Islamic Revolutionary Guard Corps vessels on Sunday after they closed in at a high rate of speed in the Strait of Hormuz, according to two U.S. defense officials.

The Reuters sources said that the USS Mahan established radio communication with the boats but they did not respond to requests to slow down.

The USS Mahan

The Navy destroyer fired warning flares and a U.S. Navy helicopter also dropped a smoke float.

The Iranian vessels came within 900 yards (800 meters) of the Mahan, which was escorting two other U.S. ships.

The last such encounter in which a US navy ship fired warning shots at Iranian vessels took place last August, when the USS Nitze fired three warning shots after a "harassing" Iranian fast-attack craft approached and circled two U.S. Navy ships and a Kuwaiti vessel in the northern Gulf. The U.S. ship fired the shots into the water after the Iranian ship did not leave after a brief radio conversation.

The Iranian vessels had moved at high speed toward the Nitze, which allegedly was operating in accordance with international law in international waters and ignored maritime "rules of the road" as set out in the 1972 Convention on the International Regulations for Preventing Collisions at Sea. According to the Navy official, the IRGC vessels ignored multiple warnings, creating a dangerous, harassing environment that could have pushed the Nitze to take defensive measures, escalating the situation. At the time, Iran's defense ...

Frontrunning: January 9



European shares dip, sterling falls on Brexit comments (Reuters)

Pound Falls to 10-Week Low as May Hints at Single-Market Exit (BBG)

Offshore Yuan Falls for Second Day as Bears Reload After Squeeze (BBG)

Trump's choices for top Cabinet posts face big tests this week (Reuters)

Nine Trump Nominees Who'll Face Extreme Vetting by Democrats (BBG)

Meet the Mercers: New Power Brokers in Trump's Washington (WSJ)

Why the China Manipulator Label Looks Increasingly Appealing to Trump (BBG)

Turkish Lira Extends Losses as Rate Speculation Mounts (BBG)

Auto Makers in Hot Seat as Political Pressure Rises (WSJ)

GM Won't Move Small-Car Production From Mexico (WSJ)

'La La Land' Sets Golden Globes Record With ...

Chinese Bonds Coming to Ratings Company Near You

As Chinese bonds sold off sharply in December, Beijing quietly declared its intention to allow foreign credit-rating companies to rate local issues for the first time.

McDonald's Shakes Up Its China Approach

The fast-food giant's sale of its China business to a state-owned company could be more profitable in the long run.

Apple's Fortunes Are Hard to Read

Apple's highly focused business model means even conservative forecasts can miss the mark.

Dissecting The Falling Labor Force Participation Rate

from the St Louis Fed

Questions about the jobless recovery following the Great Recession have spurred economists to scrutinize the nation's rate of labor force participation (LFP). The LFP rate measures the share of the population that actively participates in the labor market, or the total number of people employed and unemployed as a share of the working-age population.

Fed should get on with its interest-rate tightening, global-economy experts Rajan and Rogoff tell MarketWatch

The Federal Reserve should get on with tightening, given the improvement in the economy, two top international economists said.

The Fed: Asset prices are not 'broadly unsustainable,' Fed's Powell says

Low interest rates helped the economy recover and have not pushed asset prices to 'broadly unsustainable' levels, said Fed Gov. Jerome Powell.

Jeff Reeves's Strength in Numbers: 3 ways to profit with stocks and ETFs in the 'year of the dollar'

Regardless of your allocation to stocks or your investment horizon, this kind of big-picture trend in the dollar means now is the time to position your investment portfolio to profit — and to avoid some of the pitfalls that can come from a strong domestic currency, writes Jeff Reeves.

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
Minsky’s Theory of Asset Prices: Why Minsky Was NOT a Neo-Monetarist
Many (But Not All) Dynamics Improving But Federal Tax Receipts Are Down
News Blog
15 Recent Science Discoveries You Wont Believe
December 2016 Industrial Production Up - Now In Expansion
December 2016 CPI: Year-over-Year Inflation Rate Now 2.1%
Advent Of Trade Reporting For U.S. Treasury Securities
Infographic Of The Day: Why Pets Make Us Happy
Early Headlines: Asia Stocks Mixed, Oil Up, Dollar Down, Obama Issued Fewer Exec. Orders, German Inflation 1.7 Pct, Pound Rally Temporary?, China Prop. Investment Stabilized And More
Democracy - 'End of History', Really?
Preview Of Dirk Ehnts' New Book
Britons Are Very Pessimistic About The EU's Future
Sherlock Holmes And The Strange Case Of Anti-intellectualism
Average Gasoline Prices for Week Ending 16 January 2017 Fell Almost 3 cents
What We Read Today 17 January 2017
Massive Alligator Shocks Tourists As He Nonchalantly Strolls By On Walking Path
Investing Blog
Investing.com Technical Summary 17 January 2017
Apple Takes The Wireless Headphone Market By Storm
Opinion Blog
Trump's 'Great Gambit'
More Proof The MMT's "Jobs Guarantee" Can't Work
Precious Metals Blog
Gold's 2016 Gain Indicates A 19% Surge In 2017
Live Markets
18Jan2017 Pre-Market Commentary: Wall Street Opening To Be Higher, But For How Long As The Trump Rally Runs Out Of Steam, Crude Prices Fall To The 51 Handle And The US Dollar Recovers Fractionally
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





























 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 - 2017 Econintersect LLC - all rights reserved