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22Nov2017 Pre-Market Commentary: Markets Look Good Going Into Thanksgiving

Written by Gary

Global markets are generally up, and the USA markets are set to open up on generally positive market friendly news. At this hour, gold and oil were trending up. Hoping all of our readers at Econintersect have a great Thanksgiving weekend.


Here is the current market situation from CNN Money

European markets are mixed today. The FTSE 100 is up 0.53% while the CAC 40 gains 0.11%. The DAX is off 0.22%.

What Is Moving the Markets

Here are the headlines moving the markets.

Uber paid hackers to cover up massive data breach

(Reuters) - Uber Technologies Inc paid hackers $100,000 to keep secret a massive breach last year that exposed the personal information of about 57 million accounts of the ride-service provider, the company said on Tuesday.

World stocks ride tech boom, bat aside politics to scale new high

LONDON (Reuters) - World shares scaled yet another record high on Wednesday, propelled higher by a bullish growth and company earnings outlook, as well as investors' unflagging enthusiasm for technology stocks.

FCC chief plans to ditch U.S. 'net neutrality' rules

WASHINGTON (Reuters) - The head of the U.S. Federal Communications Commission unveiled plans on Tuesday to repeal landmark 2015 rules that prohibited internet service providers from impeding consumer access to web content in a move that promises to recast the digital landscape.

Apple scientists disclose self-driving car research

(Reuters) - Research by Apple Inc computer scientists on how self-driving cars can better spot cyclists and pedestrians while using fewer sensors has been posted online, in what appears to be the company's first publicly disclosed paper on autonomous vehicles.

Microsoft's Skype pulled from Apple, Android China app stores

BEIJING (Reuters) - Skype, Microsoft Corp's internet phone call and messaging service, has disappeared from app stores in China including that of Apple Inc , indicating the latest setback for a foreign tech service in the country.

Trump says AT&T plan to buy Time Warner 'not a good deal'

(Reuters) - U.S. President Donald Trump on Tuesday stood by his criticism of pay TV and wireless company AT&T's deal to buy movie and TV show maker Time Warner Inc, which the Justice Department has sued to stop.

U.S. commission recommends tariffs to curb Samsung, LG washer imports

WASHINGTON/SEOUL (Reuters) - The U.S. International Trade Commission on Tuesday recommended tariffs to keep Samsung and LG from flooding the U.S. market with inexpensive washers, a step that would protect American appliance giant Whirlpool Corp .

NAFTA talks hit wall as Mexico, Canada push back on U.S. demands

MEXICO CITY (Reuters) - The United States, Mexico and Canada failed to resolve any major differences in a fifth round of talks to rework the NAFTA trade deal, drawing a swift complaint from the Trump administration on Tuesday that the lack of progress could doom the process.

Meg Whitman stepping down as HP Enterprise CEO

(Reuters) - Meg Whitman on Tuesday announced that she will step down as chief executive of Hewlett Packard Enterprise Co , ending a 6-year tenure that included overseeing one of the biggest corporate breakups in history.

"Comey Has No Issue With It": Judicial Watch Dumps Explosive New FBI Emails From McCabe's Conflict Review

Judicial Watch has just dumped a new treasure trove of FBI emails regarding Deputy Director Andrew McCabe's conflict check relative to the Clinton email investigation (for those who missed it, we reviewed all of McCabe's many scandals here: "FBI Director McCabe Subject Of Three Separate Federal Inquiries Into Alleged Misconduct: Report"). Ironically, this particular FOIA request was filed in October 2016 under the Obama administration but they apparently just "didn't have time" to get to it.

Judicial Watch today released 79 pages of Justice Department documents concerning ethics issues related to FBI Deputy Director Andrew McCabe's involvement with his wife's political campaign. The documents include an email showing Mrs. McCabe was recruited for a Virginia state senate race in February 2015 by then-Virginia Lieutenant Governor Ralph Northam's office.

Lebanon's "Odysseus" Hariri Returns To Beirut, Puts Resignation On Hold: What Comes Next?

Saad Hariri finally returned to Beirut late on Tuesday amid tight security after what was essentially a two week house arrest in Riyadh which began on November 4 after his resignation announcement in Saudi Arabia. Lebanese television aired live footage of the former prime ministers plane landing, though he left without addressing the expectant throng of journalists gathered at the airport.

His shocking resignation, which President Michel Aoun has refused to formally accept, came amidst Saudi Crown Prince Mohammad bin Salman's (MBS) aggressive crackdown within the royal family and against high officials, which resulted in the deaths of at least two princes, and the arrests of at least a dozen others. And, in the latest Wednesday morning development in this ongoing saga, Hariri said he has changed his mind and has puts his resignation on hold at the request of the country's president.

In televised comments quoted by Reuters, Hariri said that he "presented my resignation to President Aoun today and he urged me to wait" for more dialogue. "I showed responsiveness to this hope." Hariri also denied reports that Riyadh forced him to step down. He says the claims that Saudi Arabia was keeping him against his will are merely "rumors."

Meanwhile, as reported previously, in the midst of MBS' purge, new revelations emerged and were confirmed of an official Saudi-Israeli intelligence sharing relationship targeting Iran and Lebanese Hezbollah.

"Very Close To Irrational Exuberance": Asian Equities Break Above All-Time High As Hang Seng Clears 30,000

Following the new all-time high in US equities, the MSCI Asia Pacific Index broke through its November 2007 peak to make an all-time high in Wednesday's trading session. This was something we noted could happen yesterday in "SocGen: Asian Equities Are So Awesome, A China Minsky Moment Is 'Manageable". The dollar weakened slightly after outgoing Fed Chairman, Janet Yellen, cautioned against interest rates rising too quickly in one of her last Q&As at NYU on Tuesday evening. The MSCI Emerging Market Index hit its highest level in six years and the Shanghai Composite rose 0.5% despite the lack of a net liquidity injection from the PBoC.

Oil Price Drop Imminent If Moscow Says "No" To Extension

Authored by Irina Slav via OlPrice.com,

As the November 30 meeting in Vienna of OPEC and its partners in the oil production cut deal nears, worry has returned among traders: one of the brokers of the deal might decide to walk out on the deal instead of participating in another extension.

We're talking about Russia, the world's top producer and exporter, who many believe played OPEC and specifically its leader, Saudi Arabia, by agreeing to a relatively minor production cut from its nearly record-high rate of production.

Reports emerged last week that Russia is considering a delay on the decision to extend the cut.

Why Investors Should Be Pleased to See Chinese Interest Rates Rise

There are encouraging signs that Beijing is allowing the cost of credit to be driven more by market forces.

Hold the Confetti for Biotech Stocks

Strong biotech index performance masks investor disappointment.

Commodity Bulls Ignoring a Few Large Elephants

Rising prices for growth-sensitive commodities have been one factor assuaging investors' fears about richly valued stocks. But investors have been ignoring warning signs in metal and energy markets too.

In Afghanistan, The U.S. And Pakistan Fight A Conflict Of Interests

from STRATFOR

-- this post authored by Faisel Pervaiz

The ravages of a seemingly endless war have kept the United States mired in South Asia for over 16 years. In August, U.S. President Donald Trump proposed a new solution to the intractable conflict in Afghanistan. The new strategy would focus not on meeting a specific deadline but rather on achieving the conditions necessary to bring peace to the war-torn country. To that end, Trump urged India to play a greater role in Afghanistan's economic development. He also had a few choice words for Pakistan.

Why Are Men Working Less These Days?

from the Philadelphia Fed

-- this post authored by Ryan Michaels

Common explanations for the drop in employment among men without college degrees invoke everything from robots to disability to working wives. But what does the evidence say?

Instinet's new Amazon stock-price target is about 20% above current level

Instinet raised its stock price target for Amazon.com Inc. to $1,360 on Monday, making it the second-highest price target of analysts polled by FactSet.

Want the new Tesla Roadster in 2020? Prepare to pay Tesla $250,000 now

Tesla requires a wire transfer of up to $245,000 to complete reservation for new Roadster.

Wal-Mart, J.B. Hunt are among the first to order the Tesla semi truck

Wal-Mart Stores Inc. and transportation and trucking company J. B Hunt Transport Services Inc. are among the first to say they have preordered the new Tesla commercial truck.

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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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