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13Nov2017 Pre-Market Commentary: Wall Street To Open Lower, Investors Uncertain Over Trump's Tax Reform Plan, WTI Crude Remains Steady In The High 56 Handle

Written by Gary

US stock market index futures are marginally lower this morning (SPY -0.3%) as uncertainty over the future of President Donald Trump's tax reform plan weighed on the sentiment.


Here is the current market situation from CNN Money

European markets are lower today with shares in Germany off the most. The DAX is down 0.95% while France's CAC 40 is off 0.84% and London's FTSE 100 is lower by 0.28%.

What Is Moving the Markets

Here are the headlines moving the markets.

GE slashes quarterly dividend ahead of expected restructuring

(Reuters) - General Electric Co chopped its quarterly dividend in half on Monday, new Chief Executive John Flannery's first move in an overhaul of the conglomerate he is due to announce later in the day.

Bitcoin rebounds over $1,000 after losing almost a third of value

LONDON (Reuters) - Bitcoin surged on Monday, recovering more than $1,000 after losing almost a third of its value in less than four days as traders bought back into the volatile cryptocurrency.

Stock futures lower as tax reform uncertainty weighs

(Reuters) - U.S. stock index futures were marginally lower on Monday as uncertainty over the future of President Donald Trump's tax reform plan weighed on the sentiment.

Qualcomm draws up plans to rebuff Broadcom's $103 billion offer: sources

(Reuters) - U.S. chipmaker Qualcomm Inc is making preparations to reject rival Broadcom Ltd's $103 billion bid as early as this week, four people familiar with the matter said on Sunday, setting the stage for one of the biggest-ever takeover battles.

Aramco plans to spend $300 billion over 10 years in upstream oil and gas: CEO

ABU DHABI (Reuters) - Saudi Aramco plans to spend close to $300 billion over 10 years in upstream oil and gas projects, Chief Executive Amin Nasser said on Monday.

GM's electric car sales will meet quotas by 2019, says China chief

BEIJING (Reuters) - General Motors Co's China joint ventures will be able to generate enough new energy vehicle (NEV) sales volume to account for NEV production quotas by 2019 and without the need to buy credits, GM China chief Matt Tsien said on Monday.

Wall Street bonuses may jump 10 percent this year: report

(Reuters) - Wall Street bonuses may climb as much as 10 percent this year, in the first meaningful jump for the industry since 2013, according to a closely watched report.

Dubai wants guarantee on A380 output before placing new order

DUBAI (Reuters) - Dubai wants a guarantee that Airbus will keep production of the A380 superjumbo open for at least 10 years before state-owned Emirates places a new order for the world's largest jetliner, the airline's president said on Monday.

Volkswagen's truck brand MAN spends $2.8 billion to upgrade plants

MUNICH (Reuters) - Volkswagen's heavy-trucks brand MAN said it will spend more than 2.4 billion euros ($2.8 billion) through 2020 on upgrading plants in Europe, Asia and Africa as part of efforts to overhaul production and boost profit.

VR and the Future of Science

For centuries, scientific thought has enabled us to answer questions we have about our universe. Like Sir Isaac Newton's question of why the apple fell from the tree and Albert Einstein's theory of relativity, breakthroughs in the areas of science, but also technology, engineering, and math (STEM) have allowed us to push forward with an improved understanding about how the universe works.

Today, we reside on the digital plane in a constant state of flux. As we continue to research life and the world around us, we create data at a fast pace

116 Internet Shutdowns Show Why Physical Gold Is Ultimate Protection

Internet shutdowns (116 in two years) show physical gold is ultimate protection

- Number of internet shutdowns increased in 2017 as 30 countries hit by shutdowns
- Democratic India experienced 54 internet shutdowns in last two years; Brazil 2
- EU country Estonia, a technologically advanced nation, experienced a shutdown
- Gallup poll shows Americans more worried about cybercrime than violent crime
- Governments use terrorist threat as reason for internet kill switch powers
- Own physical coins and bars rather than digital gold on a single platform

Editor: Mark O'Byrne

internet shutdown

UNESCO&nbs ...

Roy Moore's Democratic Opponent Takes The Lead In Alabama Senate Race

Roy Moore, the Republican candidate running for Jeff Sessions' old senate seat in a December special election, has seen his standing in the polls plunge following allegations that he had inappropriate sexual contact with a 14-year-old girl in 1979, when he was a 32-year-old assistant district attorney in Etowah County, Ala.

Moore, who has denied the allegations, claiming they are part of a liberal media campaign to discredit him, has resisted calls by powerful Senate Republicans to "step aside" and let a write-in candidate take his place (many have suggested Luther Strange, who was appointed to fill Sessions' seat by former Gov. Robert Bentley who resigned following a sex scandal earlier this year. Strange was defeated in the Republican primary by Moore despite receiving endorsements from President Donald Trump and the GOP Congressional leadership). Some Republicans are even pressuring Alabama Gov. Kay Ivey to delay the Dec. 12 ballot as a means to buy time to force Moore to drop out, the New York Times reported.

But if the latest polls are accurate, pressure on Moore to step aside will likely intensify as Moore's Democratic opponent, former US attorney Doug Jones has dramatically narrowed the gap, and has even taken the lead, according to some polls. One poll by JMC Analytics released Sunday - the first to cover the period since the scandal broke late last week - found Jones leading Moore 46% to 42%, with 9% undecided and 2% supporting an independent candidate.

In the

Frontrunning: November 13



Trump, Duterte Strike Up a Friendship, Sidestep Thorny Issues (WSJ)

Strong earthquake hits Iraq and Iran, at least 332 killed (Reuters)

GE's New CEO to Focus on Power, Aviation, Health (BBG)

GE Slashes Dividend Amid Restructuring (WSJ)

Uber board strikes agreement to pave way for SoftBank investment (Reuters)

World's Top Tech Giants Amass $1.7 Trillion in Monster Year (BBG)

OPEC Boosts 2018 Demand Forecast, Signaling Faster Rebalancing (BBG)

The U.S. Yield Curve Is Flattening and Here's Why It Matters (BBG)

Without Humans, Artificial Intelligence Is Pretty Stupid (WSJ)

Surveillance Cameras Made by China Are Hanging All Over the U.S. (WSJ)

Think bitcoin's getting expensive? Try Zi ...

SoftBank's Uber Deal Shows Doubts About Ride-Hailing

The Japanese company's $10 billion investment effectively lowers Uber's value. It may still be overpaying.

Why Legal Risks Matter for Generic Drug Stocks

Generic drugmakers and their investors have so far shrugged off a state lawsuit and federal investigation into possible price collusion. That may be the right bet, but there are a few things that investors should watch closely.

A U.S. Natural-Gas Bonanza in China Isn't a Done Deal

Big deals signed Thursday in China under President Trump's watchful eye make large quantities of American gas in China more likely. Investors shouldn't underestimate the uncertainties in the Asian gas market, however.

Brett Arends's ROI: This is the one thing missing at every single tech conference in the world

Here's how to market the next new thing, writes Brett Arends.

Rex Nutting: The U.S. just suffered through the most destructive weather in 90 years

It's time to get serious about global warming, which is hurting the economy and changing the way we live. By Rex Nutting.

The Wall Street Journal: Citigroup's credit-card growth plans hit a snag

Credit cards have been a crucial business for a bank that has spent much of its efforts getting smaller and simpler.

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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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