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.



19Jan2017 Pre-Market Commentary: Wall Street To Open Flat, Building Permits Down, Philadelphia Fed Manufacturing Up, Jobless Claims Down

Written by Gary

US stock market future indexes are pointing to open flat, but on the negative side (SPY -0.01%). Crude prices rose this morning, as market players awaited U.S. stockpiles of crude and refined products reports.


Here is the current market situation from CNN Money

European markets are lower today with shares in London off the most. The FTSE 100 is down 0.52% while Germany's DAX is off 0.09% and France's CAC 40 is lower by 0.09%.

Looking at the last three columns, the first one (Actual), is what was reported this morning. The second column (Forecast) is what analysts had forecast and the third column is the previous report. Full calendar HERE.

What Is Moving the Markets

Here are the headlines moving the markets.

Futures flat as countdown to Trump's inauguration begins

(Reuters) - U.S. stock index futures were little changed on Thursday, with investors seemingly wary of taking on risk ahead of Donald Trump's swearing-in as U.S. president on Friday.

China says can resolve trade disputes with new U.S. government

BEIJING (Reuters) - China and the United States can resolve any trade disputes through talks, the government said on Thursday, as a Chinese newspaper warned U.S. business could be targets for retaliation in any trade war ushered in by President-elect Donald Trump.

Exclusive: Pentagon, Lockheed near deal on $9 billion F-35 contract - sources

WASHINGTON (Reuters) - The U.S. Department of Defense and Lockheed Martin Corp are close to deal for a contract worth almost $9 billion as negotiations are poised to bring the price per F-35 below $100 million for the first time, people familiar with the talks said Wednesday.

Ex-Volkswagen CEO denies early knowledge of diesel emissions cheating

BERLIN (Reuters) - Former Volkswagen Chief Executive Martin Winterkorn on Thursday declined to tell German lawmakers when he first learned about systematic exhaust emissions cheating but said it was no earlier than VW has officially admitted.

Banks put 'hard' Brexit move plans into action

LONDON (Reuters) - Global banks have begun signaling how they will put plans into action to cope with a "hard" exit by Britain from the European Union.

ECB maintains stimulus as growth picks up speed

FRANKFURT (Reuters) - The European Central Bank kept its super-easy monetary policy unchanged as expected on Thursday, maintaining extraordinary stimulus to aid a tepid recovery in growth after nearly a decade in the doldrums.

Indian government wants Apple, but not all officials are biting

NEW DELHI (Reuters) - Some Indian officials have balked at Apple's demands for concessions before it assembles iPhones there, raising doubts about a spring deadline to launch a key project in Prime Minister Narendra Modi's campaign to lure foreign investors.

Davos CEOs 'go local' on supply chain in Trump era

DAVOS, Switzerland (Reuters) - Business leaders in Davos, traditionally the high priests of globalization, are talking up the benefits of local production this week to shield themselves from criticism from incoming U.S. President Donald Trump.

Saudi's SABIC still keen on Exxon Mobile venture in U.S., looking for more

RIYADH (Reuters) - Saudi Basic Industries Corp (SABIC) remains upbeat on a proposed petrochemical venture in the United States with Exxon Mobil and a preliminary investment decision could be made within months, SABIC's chief executive said on Thursday.

Will 'Dull Draghi' Talk Up Downside Risks? - ECB Press Conference Live Feed

With Yellen hell-bent on tightening into Trump's fiscal stimulus, and inflationary impulses popping up all around the world, ECB president Mario Draghi better note some serious downside looming (after leaving rates/taper unchanged) that opens the door to his un-tapering or the stagflationary pressures building everywhere willcome back to bite his precious asset prices.

As we noted earlier, with the market not expecting any changes from the ECB this morning, so far that is precisely what it got, when moments ago the ECB announced that it kept all of its rates unchanged as expected, keeping the rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility at 0.00%, 0.25% and -0.40%, respectively.

In additional language relating to non-standard measures, the ECB also said that "it will continue to make purchases under the asset purchase programme (APP) at the current monthly pace of 80 billion until the end of March 2017 and that, from April 2017, the net asset purchases are intended to continue at a monthly pace of 60 billion until the end of December 2017, or beyond, if necessary" and "in any case until the Governing Council sees a sustained adjustment in the path of inflation consistent with its inflation aim."

It also said that "the net purchases will be made alongside reinvestments of the principal payments from maturing securities purchased under the APP" and cautioned that "if the outlook becomes less favourable, or if financial conditions become inconsistent with further progress towards a sustained adjustment in the path of inflation, the Governing Council stands ready to increase the programme in terms of size and/or duration."

In other words, it may move QE up or down, depending on what happens with inflation, in line with the ECB's December announcement.

The End Of The Obama World Order

Submitted by Michael Snyder via The Economic Collapse blog,

For the past eight years, Barack Obama has been using the power of the U.S. presidency to impose his vision of a progressive world order on the entire globe. As a result, much of the planet will greatly celebrate once the Obama era officially ends on Friday. The Obama years brought us the Arab Spring, Benghazi, ISIS, civil war in Syria, civil war in Ukraine and the Iran nuclear deal. On the home front, we have had to deal with Obamacare, "Fast and Furious", IRS targeting of conservative groups, Solyndra, the VA scandal, NSA spying and the worst "economic recovery" since the end of World War II. And right at the end of his presidency, Barack Obama has committed the greatest betrayal of Israel in U.S. history and has brought us dangerously close to war with Russia.

So is the end of the Obama world order worth celebrating?

You better believe it is.

Of course Obama and his minions are in a great deal of distress that much of their hard work over the past eight years is about to be undone by Donald Trump. On Wednesday, Vice President Joe Biden warned the elitists gathered at the Worl ...

ECB Leaves Rates Unchanged, Keeps QE At 60BN But May Revise It Higher Or Lower

With the market not expecting any changes from the ECB this morning, so far that is precisely what it got, when moments ago the ECB announced that it kept all of its rates unchanged as expected, keeping the rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility at 0.00%, 0.25% and -0.40%, respectively.

In additional language relating to non-standard measures, the ECB also said that "it will continue to make purchases under the asset purchase programme (APP) at the current monthly pace of 80 billion until the end of March 2017 and that, from April 2017, the net asset purchases are intended to continue at a monthly pace of 60 billion until the end of December 2017, or beyond, if necessary" and "in any case until the Governing Council sees a sustained adjustment in the path of inflation consistent with its inflation aim."

It also said that "the net purchases will be made alongside reinvestments of the principal payments from maturing securities purchased under the APP" and cautioned that "if the outlook becomes less favourable, or if financial conditions become inconsistent with further progress towards a sustained adjustment in the path of inflation, the Governing Council stands ready to increase the programme in terms of size and/or duration."

In other words, it may move QE up or down, depending on what happens with inflation, in line with the ECB's December announcement.

Full ECB statement below.

Monetary policy decisions

At today's meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the depos ...

Frontrunning: January 19



Yellen speech bolsters dollar after Trump's mixed messages (Reuters)

Draghi Set to Face Questions on ECB Bond Purchases (WSJ)

Davos CEOs 'go local' on supply chain in Trump era (Reuters)

Oil and Trump: Russians full of optimism (Reuters)

Biggest Opposition Party Ready to Topple Swedish Government (BBG)

The Mortgage Market's $1 Trillion Pocket of Worry (WSJ)

Ex-VW CEO Winterkorn Deflects Blame for Diesel-Cheating Scandal (BBG)

George Soros, Mastercard to partner to aid migrants, refugees (Reuters)

Don't Assume Canada Will Rally With U.S., Poloz Warns Investors (BBG)

Mnuchin to Address IndyMac, Tax Policy at Senate Hearing (WSJ)

On Davos sidelines, banks expecting three-year transition after Brexit (Reuters)

Safran to Buy Zodiac for $10 Billion in All-French Aero Deal (

IBM: Paying Now for Work in Progress

IBM's stock has risen sharply in the past year, raising the stakes for a continuing transition.

The Dollar and the Donald

No matter what Donald Trump says about the dollar being "too strong," if he is able to deliver the sort of economic growth investors are hoping for, the currency will probably rise further.

Shale Rebound Will Cramp OPEC's Style

U.S. shale oil production is rising too quickly for OPEC's and Russia's comfort.

14 January 2017 Initial Unemployment Claims Rolling Average Improvement Continues

The market expectations for weekly initial unemployment claims (from Bloomberg / Econoday) were 252 K to 260 K (consensus 255,000), and the Department of Labor reported 234,000 new claims. The more important (because of the volatility in the weekly reported claims and seasonality errors in adjusting the data) 4 week moving average moved from 257,000 (reported last week as 256,500) to 246,750. The rolling averages generally have been equal to or under 300,000 since August 2014.

Bond Report: U.S., European government-bond yields remain higher after ECB decision

European and U.S. bond yields remained higher on Thursday after the European Central Bank left its benchmark interest rate unchanged.

Market Extra: Forget about the dollar — collapsed sterling is your best bet, says top U.K. fund manager

Afraid of buying sterling? Don't be, says Coutts CIO Alan Higgins who believes the pound will bounce back, even as the U.K. leaves the EU.

Chuck Jaffe: You're not going to like these predictions for mutual funds

These 7 industry developments will rattle investors in 2017, predicts Chuck Jaffe.

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
Is Free Trade Harming the Economy?
Bank of England Endorses Post-Keynesian Endogenous Money Theory
News Blog
The Age Of The Employee-less Employer
Projected Costs Of U.S. Nuclear Forces, 2017 To 2026
63.4% Homeownership Rate In 2016 Was Lowest Since 1966
The Homeownership Gap Is Finally Closing - Part Four Of Five
Infographic Of The Day: The Best And Worst Financial Decisions People Make
Early Headlines: Asia Stocks Mixed, Oil Mixed, Dollar Up, Gold Down, Microsoft Growth, US Cities' Homicides Up, Battery Age, Higher-Priced Carbon, Sweden Crime Data, Russia Passes Saudi Arabia And More
February 20, 2017 Weather and Climate Report - Transition to Spring can be Cruel
More Buck For The Chuck
More About What's Going On In Retail
Your Dog Has A Better Memory Than A Chimpanzee
Where Shadow Economies Are Well Established
What We Read Today 20 February 2017
Successful SpaceX Launch & Landing Of Falcon 9 + Dragon CRS-10 Mission To The ISS (2017-02-19)
Investing Blog
Market And Sector Analysis 19 February 2017
Dollar Looks To Head Higher
Opinion Blog
Fascism Defined And Described By Oswald Mosley
Charity Is Not How We Solve Poverty
Precious Metals Blog
Deflation And Gold: A Contrarian View
Live Markets
20Feb2017 Pre-Market Commentary: US Markets Closed Today In Observance Of The Presidents Day Holiday, US Dollar Slips, European Stocks Rise
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