US stock market index futures are headed South again (SPY -0.2%) along with the US dollar trading in the high 99's. Trump's immigration ban is continuing to rattle financial markets as concerns over the broader shape of policy weighed.
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 0.58% while France's CAC 40 is up 0.27% and Germany's DAX is up 0.19%.
WASHINGTON (Reuters) - The U.S. Federal Reserve is expected to keep interest rates unchanged on Wednesday in its first policy decision since President Donald Trump took office, as the central bank awaits greater clarity on his economic policies.
NEW YORK/SAN FRANCISCO (Reuters) - Eight days after Elliott Management disclosed a 7.6 percent stake in LifeLock Inc , managers of the more than $30 billion hedge fund met with executives at the consumer protection company.
LONDON (Reuters) - Global investors raised their U.S. equity holdings to an 18-month high in January, betting fiscal stimulus from U.S. President Donald Trump will spur growth, but doubts are growing whether he can deliver as much as markets have priced in.
NEW YORK/FRANKFURT (Reuters) - Deutsche Bank has agreed to pay $630 million in fines for organizing $10 billion in sham trades that could have been used to launder money out of Russia, the latest in a string of penalties that have hammered the German lender's finances.
WASHINGTON (Reuters) - President Donald Trump signed an order on Monday that will seek to dramatically reduce federal regulations, but the policy will not apply to most of the financial reform rules introduced by the Obama administration.
MOSCOW (Reuters) - McDonald's plans to open more than 50 restaurants in Russia this year and hopes to sign more franchising deals to expand in existing and new regions, the local unit's chief executive said on Tuesday.
(Reuters) - U.S. brand management company Iconix Brand Group Inc is exploring a sale of its majority stake in Peanuts Worldwide LLC, which owns the rights to cartoon strip characters Snoopy and Charlie Brown, according to people familiar with the matter.
Under Armor shares are down almost 30% in the pre-open, trading at their lowest in 3 years after a triple whammy disaster of an earnings announcement.
Top and Bottom Line miss:
*UNDER ARMOUR 4Q NET REV. $1.31B, EST. $1.41B
*UNDER ARMOUR 4Q EPS 23C, EST. 25C
As Bloomberg notes, Under Amour -- which has doubled its sales about every three years -- is now having a hard time maintaining that rapid growth.
Sales this year will increase as much as 12 percent to nearly $5.4 billion, the Baltimore-based company said in a statement Tuesday. That trailed analysts' $6.05 billion average estimate and would be Under Armour's smallest annual gain since it went public in 2005.
"Numerous challenges and disruptions in North American retail tempered our fourth quarter results," UAA CEO Kevin Plank said in release.
And C-Suite shake-up:
CFO Chip Molloy will leave for personal reasons; SVP, Corporate Finance David Bergman will serve as acting CFO
Last night, Nancy Pelosi and "Fake Tears Chuck Schumer" held a protest at the Supreme Court over Trump's recent immigration ban which has sparked mass protests around the country and ultimately led to the firing of the acting Attorney General Sally Yates last night.
Unfortunately, there were some logistical issues with the protest which Trump has seized upon this morning via Twitter:
Nancy Pelosi and Fake Tears Chuck Schumer held a rally at the steps of The Supreme Court and mic did not work (a mess)-just like Dem party!
— Donald J. Trump (@realDonaldTrump) January 31, 2017
And here is the trainwreck in slow motion for your viewing pleasure:
Pelosi: "Is someone going to deal with this? Look at that moon. Introduce the real people now...I'll do the real people now."
Once the mics started working, Pelosi told protesters that she was happy to stand in defiance of a President that "undermines our values and is not in support of the oath of office that we take, to support and defend the Constitution of the United States." Per CNN:
"I'm very proud to stand her with members of the House Democratic Caucus, soon to be join ...
Precious Metals As Safe Havens - Reassessing Their Role
New research confirms that not just gold but also the other precious metals - silver, platinum and palladium bullion - act as safe havens, especially from 'Economic Policy Uncertainty.' This is something that is particularly prevalent today due to the 'Hard Brexit' impact on the UK and the Eurozone, risk of trade wars and heightened financial and geopolitical risk under the Trump Presidency.
In their just released paper, Reassessing the Role of Precious Metals As Safe Havens - What Colour Is Your Haven and Why?, Dr Brian Lucey and Sile Li, of Trinity College Dublin and Trinity Business School, examine the "safe haven properties versus equities and bonds of four precious metals (gold, silver, platinum and palladium) across eleven countries."
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