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14Feb2017 Pre-Market Commentary: US Stock Future Indexes Trading At The Unchanged Line As Investors Worry About The Fed's Chance Of A Rate Hike In June

Written by Gary

Wall Street has flatlined (SPY +0.01%) showing caution as Yellen testimony looms. Fed fund futures are pricing in less than a 15% chance of a rate hike in March, Oil prices bounced back from the prior session's losses and the dollar dipped.


Here is the current market situation from CNN Money

European markets are higher today with shares in France leading the region. The CAC 40 is up 0.06% while London's FTSE 100 is up 0.05% and Germany's DAX is up 0.01%.

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.

Trump rally gives way to caution as Yellen testimony looms

LONDON (Reuters) - Stocks flatlined and the dollar dipped on Tuesday as caution set in before testimony from Federal Reserve chief Janet Yellen that may offer clues to the timing of the next U.S. interest rate rise.

Aetna, Humana terminate $34 billion deal; Humana to receive $1 billion

(Reuters) - Health insurers Aetna Inc and Humana Inc said on Tuesday that they would end their $34 billion merger agreement after a U.S. federal court ruled against the deal, saying it would stifle competition in the Medicare Advantage program.

South Korean prosecution again seeks arrest of Samsung chief

SEOUL (Reuters) - South Korea's special prosecutor's office said on Tuesday it would again seek a warrant to arrest Samsung Group chief Jay Y. Lee, a suspect in a graft investigation that may topple President Park Geun-hye.

Delays, confusion as Toshiba reports $6 billion nuclear hit and slides to loss

TOKYO (Reuters) - After a day of delays and confusion, Japan's Toshiba Corp said on Tuesday it expected to book a $6.3 billion hit to its U.S. nuclear unit, a writedown that wipes out its shareholder equity and will drag the group to a full-year loss.

French carmaker PSA discusses deal to buy GM's Opel

LONDON/FRANKFURT (Reuters) - PSA Group is holding talks with General Motors about buying its European Opel division, the French carmaker said on Tuesday, a deal which would increase competition for market leader Volkswagen .

Geeks venture into Goldman Sachs' world of big deals and egos

NEW YORK (Reuters) - Technology whizzes who helped Goldman Sachs eliminate hundreds of trading jobs over the past few years are venturing into the bank's flagship M&A business, making some junior bankers uneasy.

T-Mobile's quarterly revenue, profit beat estimates

(Reuters) - T-Mobile US Inc, the No.3 U.S. wireless carrier, reported higher-than-expected quarterly revenue and profit as its promotional offers helped add more subscribers.

Fed has limited view on Trump economic policies as Yellen heads to Congress

WASHINGTON (Reuters) - Federal Reserve Chair Janet Yellen goes to Congress on Tuesday for the first time since Republicans took control of the White House and both houses of the legislature with less clarity on the direction of U.S. economic policy than at any time of her three-year tenure.

Syngenta: U.S. regulators' new request won't delay ChemChina deal

ZURICH (Reuters) - Syngenta has got another request for information from U.S. anti-trust regulators reviewing a proposed $43 billion takeover by ChemChina [CNNCC.UL] but still sees the deal being completed in the second quarter, it said on Tuesday.

Brother Of North Korea's Kim John Un Assassinated In Malaysia

Just two days after North Korea embarrassed both the US and Japan by test-firing a new, nuclear-capable ICBM with a 2000 mile range, with neither Trump nor Abe able to articulate a clear retaliation strategy, moments ago Yonhap news agency reported that the elder half-brother of North Korean leader Kim Jong Un has been assassinated at Kuala Lumpur airport.

Kim Jong Nam, 45, who had lived outside North Korea for years, was reported to have been killed by poison needle by two women who fled the scene by taxi, the reports said.

He was once considered to be the heir to late North Korean leader Kim Jong Il but he fell out of favor with his father in 2001 after he was caught trying to enter Japan on a false passport, and was arrested at Tokyo airport, apparently en route to Disneyland. Kim Jong Nam had been critical of Kim Jong Un, reportedly saying in 2012 that he "won't last long" because of his youth and inexperience. The two brothers have different mothers, Bloomberg reports.

Who is behind the murder? As BBG adds, Kim has carried out a series of executions since taking power in 2011, the most high profile of which was the 2013 killing of his uncle and one-time deputy Jang Song Thaek. If Kim Jong Nam was killed by a North Korean spy, it indicates that Kim Jong Un felt a sense of paranoia about his own future and wanted to remove any potential successors, according to Namkoong Young, who has been teaching inter-Korean politics at Hankuk University of Foreign Studies for more than 25 years.

"Jong Nam has been in exile for years away from North's politics for a long time but he is still the eldest son of Kim Jong Il," Namkoong said. "And if there was any move or plan by some elite there to have him replace Jong Un, he probably should be removed."

Of course, it is just as l ...

Trump Security Team "In Turmoil" After Flynn Resignation, Russia Calls It An "Internal Matter"

Less than a month into the new administration, President Trump security team has been plunged into "turmoil" following last night's unexpected resignation announcement by his now former National Security Advisor Mike Flynn. In some additional back story color, Flynn reportedly infuriated VP Pence by misleading him about the call, then not fully apologizing, the NYT reported and also added that Steve Bannon pushed for his resignation since Friday.

Flynn stepped down on Monday night over his phone conversations with Russia's ambassador to Washington, Sergey Kislyak. In a statement announcing his resignation, the general said he had "inadvertently briefed the Vice President Elect and others with the incomplete information" about the calls.

Flynn's resignation comes at a delicate time for the president as Trump struggles to cement his national security apparatus, just as the president and his cabinet officials are preparing for a series of meetings and summits with foreign leaders in the coming months, starting this week in Europe, and followed by various trips abroad, mostly to Europe.

As reported last night, Trump is now contemplating to replace Flynn with retired Army Lieutenant General Keith Kellogg, who had been Flynn's chief of staff. Along with Kellogg, the White House is considering retired Vice Admiral Robert Harward and former ...

Frontrunning: February 14



Yellen to Face Questions on Trump's Impact on Economy (WSJ)

Fed has limited view on Trump economic policies as Yellen heads to Congress (Reuters)

Oil rises as OPEC-led output cuts trim oversupply (Reuters)

Mnuchin's G-20 Debut Clouded by Currency Chatter (BBG)

Israel's Netanyahu Prepares for High-Stakes Talks With Trump (WSJ)

Peugeot Owner in Talks to Buy GM's European Business (BBG)

Challenge to Trump travel ban moves forward in two courts (Reuters)

No return home in sight for thousands of Californians sheltering from dam (Reuters)

Aetna, Humana Mutually End Merger Agreement (WSJ)

South Korean prosecution again seeks arrest of Samsung chief (Reuters)

Pimco to Investors: Don't Underestimate the Chance of a Fed Mistake (

Jim Rogers Buying Gold Bullion On Dips

Jim Rogers Buying Gold Bullion On Dips


  • Jim Rogers accumulating gold bullion on dips

    "Get prepared" as "we're going 'to have the worst economic problems we've had in your lifetime or my lifetime'

    Warns that Trump and his team are "very, very keen to have trade wars with China and other people"

    History shows trade wars lead to real wars

    Cashless Society - Cash-less means Freedom-less

    Cashless societies are about governments "looking out for themselves first"

    Gold and silver may head lower but advises accumulating bullion on the dip

    Advocates storing gold in Singapore

    Jim Rogers holds a gold coin (Digital Journal)

    I want to own more gold and silver

Time to Log Out of Bank of the Internet

BofI Holdings has fought a mostly successful battle with short sellers, but risks loom.

China's Electric Vehicle Market Hits the Skids

Aggressive scaling back of broad-based state subsidies to promote electric cars seems to be at play in the fall of China's electric car market.

The Suddenly Rising Cost of Making a Car

A jump in automotive commodity prices adds to car makers' worries in 2017.

Market Extra: Trump's stock-market rally is annihilating bears

It may be time for stock-market bears to give up the ghost.

The Wall Street Journal: Kim Jong Nam, brother of North Korean leader, dies in Malaysia

Kim Jong Nam, who was 45 years old, was long considered the heir-apparent to his father, Kim Jong Il.

Need to Know: This 'end of world' uranium fund has soared 55% but now the cooling pond beckons

Poor Janet Yellen has to spend much of Valentine's Day with the Senate Banking Committee. Meanwhile, some traders have learned to stop worrying and love the bombs-related ETF. But our call of the day says the uranium ETF is due for a pause.

Earnings Summary for Today

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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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