US stock market futures pointed to a fractionally higher open (SPY +0.3%) this morning, as investors looked ahead to corporate earnings and continued tension with North Korea. Crude prices are higher after a 4% drop, but are looking weak along with the US dollar.
Here is the current market situation from CNN Money
European markets are mixed today. The CAC 40 is up 0.76% while the DAX gains 0.03%. The FTSE 100 is off 0.07%.
Looking at the last three columns (below), 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.
Wednesday's Key Earnings
Abbott (NYSE:ABT) +0.4% propped up by St. Jude acquisition.
American Express (NYSE:AXP) +2.3% AH sailing past estimates.
BlackRock (NYSE:BLK) -1.7% despite record ETF inflows.
CSX Corp. (NYSE:CSX) +2.5% AH boosted by coal shipments.
eBay (NASDAQ:EBAY) -1.9% AH following light guidance.
Kinder Morgan (NYSE:KMI) -0.2% AH on mixed results.
Morgan Stanley (NYSE:MS) +2% posting a strong Q1.
Qualcomm (NASDAQ:QCOM) +2.8% AH topping expectations.
U.S. Bancorp (NYSE:USB) -0.2% as revenues met estimates.
(Reuters) - Verizon Communications Inc on Thursday reported quarterly results that missed estimates and said it lost subscribers who pay a monthly bill despite the No. 1 U.S. wireless carrier's re-launch of unlimited data plans.
NEW YORK (Reuters) - Wells Fargo & Co's largest investor, Warren Buffett, has likely already voted his shares to support the bank's recommendations at its contentious annual shareholder meeting next week, a representative told Reuters on Wednesday, which include reinstating most of the board's directors.
ABU DHABI (Reuters) - Leading Gulf oil producers Saudi Arabia and Kuwait gave the clearest signal yet that OPEC plans to extend into the second half of the year a deal with non-OPEC producers to curb oil supplies.
WASHINGTON (Reuters) - World finance leaders are gathering on U.S. President Donald Trump's home turf on Thursday to try to nudge his still-evolving policies away from protectionism and show broad support for open trade and global integration.
SHANGHAI (Reuters) - German sports apparel brand adidas AG expects its huge operating margin in China to shrink slightly in the long term, while its small U.S. margin grows markedly in the near term, its new chief executive officer said on Thursday.
(Reuters) - Activist hedge fund Elliott Management released the private letter written by Arconic Inc's former chief executive, Klaus Kleinfeld, which consequently led to his resignation, and their response to the letter and Arconic's statement on April 17.
WASHINGTON (Reuters) - The head of the U.S. House of Representatives' banking panel has unveiled the Republicans' most ambitious plan so far to loosen financial regulations, a 600-page bill to replace the Dodd-Frank financial reform law.
When an investment asset has potential to deliver returns for 100 years, the competition to be the sole owner can be intense. Such is the case with mining rights to the Simandou iron ore deposit in the West African nation of Guinea, where George Soros is involved in one of several lawsuits over the past few years. The dispute is aggressive, with Soros being called out as anti-Israeli in the suit, which dredges up well-worn charges the former hedge fund managers engages in a global conspiracy to manipulate numerous governments. The feud with Israeli mining magnate Beny Steinmetz dates back to 1998 and involves charges of manipulation and bribery.
From court document
BSGR Lawsuits fight against a "racketeer billionaire" who "puppeteered" government
The cost to develop Simandou is estimated at $20 billion, according to a Bloomberg report, and is estimated to have enough iron ore to deliver returns through the next generation and beyond. The fight brought by BSG Resources Ltd. (BSGR) involves some of the most successful billionaires and mining companies in the world.
BSGR filed suit against Soros and his Open Society Foundations in court Friday, opening the ...
While the US has a habit of invading or attacking sovereign nations any time the president's approval rating dips below a certain threshold, Venezuela has a similar, if less dramatic mechanism to provide a brief boost to Maduro's popularity: it nationalizes foreign plants on its soil.
It did so last July, when the country was once again suffocating under a wave of violent protests, when just hours after Kimberly-Clark said it will shutter its Venezuela operations after years of grappling with soaring inflation and a shortage of hard currency and raw materials, Venezuela retaliated by announcing it would seize the factory.
It did so again overnight, when General Motors said on Wednesday that Venezuelan authorities had illegally seized its plant in the industrial hub of Valencia; as a result the carmaker said it would immediately halt operations in Venezuela.
"Yesterday, GMV's (General Motors Venezolana) plant was unexpectedly taken by the public authorities, preventing normal operations. In addition, other assets of the company, such as vehicles, have been illegally taken from its facilities," the company said in a statement.
The automaker said the seizure showed a "total disregard" of its legal rights. "[GM] strongly rejects the arbitrary measures taken by the authorities and will vigorously take all legal actions, within and outside of Venezuela, to defend its rights."
GM's subsidiary in the country - General Motors Venezolana - has operated in Venezuela for nearly 70 years. It employs nearly 2,700 worker ...
Oil prices limped higher overnight as desperate jawboning of OPEC production cut deal extensions by the Saudis supported a recovery from yesterday's post-inventories plunge. However, confirming the market's lack of faith in OPEC (and Saudi's ability to hold the deal together), WTI prices are sliding back towards a $50 handle as jawboning half-lives slump.
As The FT reports, oil producers are moving closer towards agreement on extending the Opec-led deal to limit output, Saudi Arabia's energy minister said on Thursday, as the cartel battles excess stockpiles and a resurgent US shale industry that have weighed on prices. Khalid al-Falih said the deal could be run for another three to six months beyond the end of June. Under the terms of the existing accord, Opec members and countries outside the cartel, including Russia, agreed to cut their output by about 1.8m barrels a day throughout the first half of 2017. A preliminary agreement to extend the deal had been reached by most, but not all, producers, he said.
"Consensus is building, but it is not done yet," Mr Falih told reporters on the sidelines of an energy industry event in Abu Dhabi. "We are still in consultations."
But the market is not buying it...
Noitably, as Bloomberg reports, when OPEC and Russia meet next month to assess the impact of their oil cuts they face a surprising outcome: stockpiles are even higher th ...
Stocks look set to rebound this morning after their two-day skid, as some traders gripe about Mr. Market's aimless action lately. But here's something that really has been moving: Amazon.com's stock. Today's call says more gains are ahead.
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