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15Sep2017 Pre-Market Commentary: Wall Street To Open Lower, Retail Sales Lower Than Expected, NOKO Launches Missile Over Japan, US Dollar Slides Lower

Written by Gary

US stock market index futures were fractionally lower (SPY -0.1%) this morning, after NOKO's latest missile test and a poor financial report on retail sales being lower than expected.(see below)


Here is the current market situation from CNN Money

What Is Moving the Markets

Here are the headlines moving the markets.

Futures dip; economic data blast awaited for rate-hike clues

(Reuters) - U.S. stock index futures were slightly lower on Friday, with investors shrugging off North Korea's latest missile test and instead awaiting a slew of economic data for indicators on when interest rates will next be raised.

U.S. retail sales unexpectedly fall in August

WASHINGTON (Reuters) - U.S. retail sales unexpectedly fell in August as Hurricane Harvey likely depressed motor vehicle purchases, suggesting a moderation in consumer spending in the third quarter.

Portland probe finds Uber used software to evade 16 government officials

(Reuters) - A sweeping investigation by the city of Portland, Oregon, found that Uber Technologies Inc [UBER.UL] used a software tool to intentionally evade 16 government officials whose job it was to regulate the ride-services company, city officials said on Thursday.

Business interrupted: hurricane-damaged firms dig in for insurance fight

NEW YORK (Reuters) - Business owners who are trying to get back on track after hurricanes Harvey and Irma now face a different sort of challenge: trying to recoup lost income from their insurers.

Drug industry on tenterhooks as Maryland price-gouging law nears

(Reuters) - As U.S. consumer outrage grows over prescription drug prices, state authorities and patient advocates in Maryland are preparing to enforce the nation's first law designed to punish drugmaker price-gouging.

Macy's to hire 80,000 workers for holidays, fewer than last year

(Reuters) - Macy's Inc will increase by 20 percent the number of workers it hires during the holiday shopping season to staff distribution and warehouses that support its online business, but total holiday hiring will fall.

Stocks lure in cash but investors eyeing signs of correction: BAML

LONDON (Reuters) - Riskier assets were in vogue this week as investors poured $8.9 billion into equities, but strategists at Bank of America Merrill Lynch said flows data indicated positioning remained shy of peak levels.

Beijing cryptocurrency exchanges told to announce trading halt: source

SHANGHAI (Reuters) - Chinese authorities have ordered Beijing-based cryptocurrency exchanges to cease trading and immediately notify users of their closure, signaling a widening crackdown by authorities on the industry to contain financial risks.

China green car pivot will need state support, GM chief says

SHANGHAI (Reuters) - China's big push towards new-energy vehicles (NEV) will require government backing to win over consumers, Mary Barra, chief executive of General Motors Co, said on Friday, amid broader industry concerns over tough NEV quotas in the market.

Harvard Withdraws Chelsea Manning's Invitation To Serve As Visiting Fellow

Less than two days after former army private and transgender activist Chelsea Manning was invited to serve as a visiting fellow at Harvard's John F Kennedy School of Government, the school has withdrawn the invitation after former CIA Director (and vocal Hillary Clinton supporter) Mike Morrell resigned in protest, according to the Hill.

"We are withdrawing the invitation to her to serve as a Visiting Fellow — and the perceived honor that it implies to some people — while maintaining the invitation for her to spend a day at the Kennedy School and speak in the Forum," Douglas Elmendorf, dean of the John F. Kennedy School of Government, said in a statement."

Former CIA Acting Director Michael Morell announced Thursday that he would resign as asenior fellow saying he couldn't be associated with an organization "that honors a convicted felon and leaker of classified information."

Manning's previous academic achievements including spending one semester studying History and English at Montgomery Community College in Maryland.

After stealing a bunch of classified documents, leaking them to WikiLeaks, getting convicted of espionage and serving 7 years in prison, Harvard was supposed to be the next step in an already illustrious career...

...but unfortunately for Manning, the ...

Gold Up, Markets Fatigued As War Talk Boils Over

Gold Up, Markets Fatigued As War Talk Boils Over


  • North Korea threatens to reduce the U.S. to 'ashes and darkness'

    Markets becoming used to ongoing provocations from North Korea

    Russia and China continue to support watered down versions of sanctions on Kim's regime

    Both NATO and Russia running war games on one another's borders

    Putin says Russia will "give a suitable response" to NATOs threatening behaviour

    Gold set to climb as fears over economy and war will drive safe haven demand

    Missile fatigue Source: Bloomberg

    This year North Korea has launched a dozen missiles. With the late ...

Trump Lashes Out At "Politicized" ESPN, Here's Why

Wondering why President Trump has lashed out at ESPN this morning with the following tweet?

ESPN is paying a really big price for its politics (and bad programming). People are dumping it in RECORD numbers. Apologize for untruth!

— Donald J. Trump (@realDonaldTrump) September 15, 2017

Here is Free Market Shooter blog's Jon Hall to explain...

Jemele Hill, co-host of ESPN's SportsCenter, took to Twitter on Monday blasting President Trump as a "white supremacist". She also labeled him as "unqualified and unfit" for America's highest office; claiming that his win was a "direct result of white supremacy".

What are these comments coming from a sports network for? When people tune into a football or basketball game, they want to escape away from the woes and problems of the world; not have it infiltrate into their favorite pastime. Hill would probably call that notion white privilege because only white people have the benefit of escaping from their problems.

Not only that, Hill's comments are downright rude. Along with spewing baseles ...

Crypto-Carnage: Bitcoin Crashes Below $3000 After China Demands Local Exchanges Halt Trading

The latest bitcoin news out of China has confirmed recent rumors and traders' fears about a widespread crypto-crackdown, sending the price of bitcoin world-wide spiraling lower to levels it hasn't touched since the beginning of the "summer of bitcoin." Information appearing from China appears to confirm that trading will no longer be legal for Bitcoin-to-fiat platforms. According to market regulators, all exchanges must close by the end of the month.

Beijing market regulator requires all virtual currency exchanges (ie. OKcoin and Huobi) to stop trading by end of today.

— Luna Lin (@LunaLinCN) September 15, 2017

The price is down 20% this morning, adding to a similarly large drop yesterday, slipping below $3,000 for the first time since mid-July.

Ethereum is testing $200...

Across all the major Cryptocurrencies, it's a bloodbath

Drug Stocks Benefit from the Sound of Silence

A movement to crack down on high drug prices appears to have fizzled, giving stock prices a lift.

Australian Banks Could Finally Head Down Under

Australia's housing market has long looked headed for a fall. That could finally be true—a bad sign for the country's highly valued major lenders.

Banks Have the Low Mortgage Rate Blues, Again

The third quarter was already looking pretty tepid for banks, and falling mortgage rates have made the outlook more glum for some.

Economic Report: U.S. retail sales slump near end of summer

U.S. retail sales fell in August for the second time in three months, reflecting fewer car purchases and a reluctance by Americans to spend on a variety of consumer goods such as clothes and electronics.

How Nordstrom is changing the department store game

Nordstrom is launching a smaller format location in Los Angeles, introducing a new way for department stores to do business without all the square footage

Empire State factory gauge stays near three-year high in September

The Empire State factory index slipped only slightly to 24.4 in September from a three-year high of 25.2 in the prior month.

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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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