U.S. stock market futures pointed to a flat open this morning, with the Dow perhaps plowing further above the 20,000-level later today. Crude prices were driven higher by a weakening dollar, although gains were capped by bulging inventories.
Here is the current market situation from CNN Money
European markets are higher today with shares in Germany leading the region. The DAX is up 0.35% while London's FTSE 100 is up 0.19% and France's CAC 40 is up 0.02%.
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.
ZURICH (Reuters) - U.S. healthcare giant Johnson & Johnson will buy Swiss biotech company Actelion in a $30 billion all-cash deal that includes spinning off Actelion's research and development pipeline, the companies said on Thursday.
WHISTLER, British Columbia (Reuters) - TransCanada Corp has yet to discuss the Keystone XL oil pipeline with shippers and is not certain if all were still in support of it, the company's CEO said on Wednesday in his first public comments since President Donald Trump revived the project.
FRANKFURT (Reuters) - The compliance chief brought in to help Volkswagen recover from its emissions scandal is leaving the management board at the end of this month following differences of opinion over her role, the German carmaker said on Thursday.
(Reuters) - Caterpillar Inc , the world's largest construction and equipment maker, forecast 2017 profit sharply below analysts' estimates, hurt by sluggish demand in the construction and energy industries.
DETROIT (Reuters) - Ford Motor Co on Thursday reported a fourth-quarter loss, reflecting pension accounting and writedowns for abandoning a planned factory in Mexico, and reaffirmed its forecast that profits for 2017 would be lower.
(Reuters) - Seeds and chemical maker Dow Chemical Co reported a better-than-expected quarterly adjusted profit, helped by its focus on consumer markets such as agriculture and automotive, and a move to take full control of its Dow Corning venture.
Professor Ted Malloch, Trump's expected ambassador to the EU says "The one thing I would so in 2017 is short the euro."
"I am not certain there will be a European Union in which to have negotiations... The one thing I would do in 2017 is short the euro. I think it is a currency that is not only in demise, but has a real problem and could in fact collapse in the coming year or year and a half."
It nothing else, Trump is sure to provide fodder for media discussion for four full years.
That aside, it is refreshing to hear such discussions. The breakup of the Eurozone or EU is a very distinct possibility.
After over a month of foreplay, Dow 20,000 is in the rearview mirror.
And yet in retrospect, it didn't take long. Deutsche Bank's Jim Reid looks at how Dow numbers were first achieved and how long it took between each 1000 increment. Firstly the Dow only hit 1000 for the first time in January 1987. 5000 was reached in November 1995, 10000 in December 2003 and 15000 in May 2013. This is the quickest ever between round number thousand point increments as it only took 64 calendar days to go from 19000 to 20000.
Of course, as the number gets bigger the % gains are smaller and therefore more achievable so this number is a little meaningless. Which is why DB also shows the graph of this and also one showing how long each 10% increase took working back from today's 20000 level. The data goes back to 1900. The average length of time has been 1.9 years. On 7 occasions it's taken more than 4 years and we've annotated these on the graph. Working backwards these were the 4.7 years to April 2011, 5.5 years to August 2003, 18.1 years to October 1982, 4.4 years to March 1950, 18 years to July 1942, 8.8 years to June 1924 and 10 years to September 2015.
And while the Dow 20,000 is nothing more than a "law of round numbers" milestone, it has bigger implications. What does it mean to professional investors, Bloomberg asked overnight
Trump took to Twitter on Thursday morning, where in his first tweet he lashed out at Chelsea Manning, calling her an "ungrateful traitor" who should have never been released from prison.
"Ungrateful TRAITOR Chelsea Manning, who should never have been released from prison, is now calling President Obama a weak leader. Terrible!" he tweeted.
Ungrateful TRAITOR Chelsea Manning, who should never have been released from prison, is now calling President Obama a weak leader. Terrible!
— Donald J. Trump (@realDonaldTrump) January 26, 2017
The reaction was prompted by Manning's first column since former President Obama commuted her sentence for leaking classified documents, in which Manning said Obama had "few permanent accomplishments."
"This vulnerable legacy should remind us that what we really need is a strong and unapologetic progressive to lead us. What we need as well is a relentless grassroots movement to hold that leadership accountable," she wrote in The Guardian. "The one simple lesson to draw from President Obama's legacy: do not start off with a compromise. They won't meet you in the middle."
As one of his last acts, Obama commuted the 35-year sentence of the former Army soldier, who was born Bradley Manning and began publicly identifying as a woman in 2013. The outgoing president said Manning had paid her debt to society.
"I feel very comfortable that justice has been served," Obama said at his last news conference.
"Chelsea Manning has served a tough prison sentence," he said. "So the notion that the average person who was thinking about disclosing vit ...
The market expectations for weekly initial unemployment claims (from Bloomberg / Econoday) were 244 K to 250 K (consensus 247,000), and the Department of Labor reported 259,000 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 247,500 (reported last week as 246,750) to 245,500. The rolling averages generally have been equal to or under 300,000 since August 2014.
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