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11Apr2017 Pre-Market Commentary: US Stock Markets To Open Lower, WTI Crude Volatile In The 53 Handle, US Dollar Slipping, Some Analysts Talking About Jumping Ship

Written by Gary

Wall Street is set to open marginally lower (SPY -0.2%) amid ongoing global tensions and could slip as much as 2% more breaking a 'stalemate' support of the three main indexes. Tillerson heads to Moscow to discuss Syria and Crude oil has backed off yesterday's gains amid a shutdown of Libya's biggest oil field.


Here is the current market situation from CNN Money

European markets are mixed today. The FTSE 100 is up 0.62% while the CAC 40 gains 0.03%. The DAX is off 0.10%.

Wall Street set to open marginally lower as Tillerson heads to Moscow to discuss Syria

What Is Moving the Markets

Here are the headlines moving the markets.

Futures flat as geopolitical concerns boost safe-haven bids

(Reuters) - U.S. stock index futures were little changed on Tuesday as investors preferred to play safe amid rising geopolitical tensions in Syria and North Korea and ahead of the start of first-quarter earnings season later this week.

Apple may ditch Dialog, analyst says, hitting chipmaker's shares

FRANKFURT (Reuters) - Dialog Semiconductor risks losing a crucial supply deal with Apple Inc , according to a financial analyst who cut his rating on the stock on Tuesday, sending the Anglo-German chipmaker's shares down by as much as one-third.

Telecoms and cable group Altice kicks off IPO process for U.S. arm

PARIS (Reuters) - Altice , the telecoms and cable holding company owned by billionaire Patrick Drahi, kicked off on Tuesday the formal process for the initial public offering (IPO) of its U.S. activities in New York.

Oil eases from five-week top, rising U.S. production weighs

SINGAPORE (Reuters) - Crude oil eased from a five-week high on Tuesday as rising U.S. shale oil production offset concerns over geopolitical tensions in the Middle East and output cuts being made to support prices.

Grains piled on runways, parking lots, fields amid global glut

CHICAGO (Reuters) - Iowa farmer Karl Fox is drowning in corn.

Exclusive - Saudis, oil majors discuss gas investments ahead of giant IPO

LONDON/DUBAI (Reuters) - Saudi Arabia and international oil companies have discussed gas venture opportunities inside the kingdom and abroad as part of the top crude-exporting country's drive to diversify investments before the listing of national energy giant Saudi Aramco.

Toshiba files earnings without auditor endorsement, delisting risk rises

TOKYO (Reuters) - Japan's Toshiba Corp filed twice-delayed business results on Tuesday without an endorsement from its auditor, increasing the likelihood that the nuclear-to-TVs conglomerate will be delisted.

Australia says changes to BHP Billiton corporate structure must fit national interest

SYDNEY (Reuters) - Any significant changes to the corporate structure of Anglo-Australian miner BHP Billiton would need to be consistent with a "national interest" test under the law, the Australian government said on Tuesday.

Bombardier board approves proposal to cut chairman's pay

(Reuters) - Bombardier Inc said its board of directors approved a proposal to slash Executive Chairman Pierre Beaudoin's pay by $1.4 million, bringing his 2016 compensation to $3.8 million, equal to his remuneration for 2015.

Trump Warns North Korea Is "Looking For Trouble", Threatens To "Solve Problem Without China"

After reports of 150,000 Chinese troops being deployed to the Korean border, President Trump has stepped up his own rhetoric...

I explained to the President of China that a trade deal with the U.S. will be far better for them if they solve the North Korean problem!

— Donald J. Trump (@realDonaldTrump) April 11, 2017

North Korea is looking for trouble. If China decides to help, that would be great. If not, we will solve the problem without them! U.S.A.

— Donald J. Trump (@realDonaldTrump) April 11, 2017

Seems like the Trump-Xi meetings last week did nothing to improve relations, and Trump's newly-found neocon allies must be relishing the warmongery.

Bank of England Rigging LIBOR - Gold Market Too?

Bank of England Rigging LIBOR - Gold Market Too?

- Bank of England implicated in LIBOR scandal by BBC

- "We've had some very serious pressure from the UK government and the Bank of England about pushing our Libors lower."

- "This goes much much higher than me" -UBS' Tom Hayes

- Libor distraction as all markets are manipulated today

- Central bank's "rigging" bond markets and likely gold

- Risks of bank 'holidays', capital controls and of course bail-ins remains

Frontrunning: April 11



Tillerson: Russia Should Give Up 'Unreliable Partner' Assad (BBG)

U.S. tries to line up West, Mideast against Assad (Reuters)

United Airlines under fire after passenger dragged from plane; officer put on leave (Reuters)

Tillerson carries Syria stance to Moscow as Trump assumes West's leadership (Reuters)

Investors Dump French Assets as Presidential Race Opens Up (WSJ)

Why Bond Bears Look Poised to Come Out of Hibernation...Again (BBG)

North Korean ships head home after China orders coal returned (Reuters)

142-Year-Old Japanese Giant Toshiba Warns It May Not Survive (BBG)

Commercial-Property Lending Falls as Investors Pull Back (WSJ)

Qualcomm hits back at Apple's lawsuit, accuses iPhone maker of false statements (Reuters)

U.K. Grocers Secretly Squeeze Customers as Brexit Bites (

North Korea Threatens U.S. With Nuclear Attack At Any Sign Of Pre-Emptive Strike

With the USS Carl Vinson carrier group steaming toward the Korean peninsula for what some speculate may be to launch a "decapitation" strike on the Kim Jong-Un regime, on Tuesday North Korean state media threatened the US with a nuclear attack at any sign of a U.S. pre-emptive strike, and warned it is ready for "war" as Washington tightened the screws on the nuclear-armed state.

USS Carl Vinson carrier group

North Korea's official Rodong Sinmun newspaper said the country was prepared to respond to any aggression by the United States. "Our revolutionary strong army is keenly watching every move by enemy elements with our nuclear sight focused on the U.S. invasionary bases not only in South Korea and the Pacific operation theatre but also in the U.S. mainland," it said.

The North's foreign ministry, in a statement carried by its KCNA news agency, said the U.S. navy strike group's approach showed America's "reckless moves for invading had reached a serious phase".

"We never beg for peace but we will take the toughest counteraction against the provocateurs in order to defend ourselves by powerful force of arms and keep to the road chosen by ourselves," an unidentified ministry spokesman said.

Tensions escalated sharply over the past week on the Korean peninsula with talk of imminent military action by the United States gaining traction following its strikes last week against Syria and amid concerns the reclusive North may soon conduct a sixth nuclear test.

The North also convened a Supreme People's Assembly session on Tuesday, one of its twice-yearly sessions in which major appointments are announced and national policy ...

If Everyone Is So Confident, Why Aren't They Borrowing?

Economists are struggling to explain a sudden slowdown in bank lending.

Foxconn Looks to Blow Away Toshiba's Defenses

The Taiwanese tech firm's $27 billion offer for struggling Toshiba's chip business is a striking message of intent.

Amazon at $1,000, Wall Street's Not-So-Bold Call

Ten analysts now predict Amazon's shares will eclipse the $1,000 mark in the next year, and 13 others have price targets within 5% of that goal.

January 2017 Philly Fed Coincident Index Shows Continuing Slowing Of Economic Rate of Growth

The year-over-year rate of growth of the US Coincident Index marginally slowed relative to last month's revised level. A comparison of this US Coincident Index with the Aruoba-Diebold-Scotti business conditions index, Conference Board Coincident Index, ECRI's Coincident Index, and the Chicago Fed National Activity Index follows.

Join us in New York City for a panel discussion on smart-beta funds

Panelists will discuss this emerging investment strategy.

Market Extra: United's stock is set to fall 2% and wipe $500 million off the airline's market cap

Shares in United Continental Holdings were dropping premarket trading early Tuesday, as the airline continues to draw flak for having a passenger forcibly dragged off a plane Sunday.

Futures Movers: Oil up ahead OPEC, API updates, but winning streak shows signs of fatigue

Oil futures held to thin gains Tuesday, trimming advances that had been driven by production outages in Libya and Canada, with investors set to get a fresh update about supply levels from the U.S.

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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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