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24Nov2017 Pre-Market Commentary: Get Your Black Friday Morning Headlines Here

Written by Gary

This is a shortened day for the markets today. But this post is the place to start reading the headlines which will affect your day.


Here is the current market situation from CNN Money

European markets are broadly higher today with shares in Germany leading the region. The DAX is up 1.15% while France's CAC 40 is up 0.72% and London's FTSE 100 is up 0.07%.

What Is Moving the Markets

Here are the headlines moving the markets.

U.S. online sales surge, shoppers throng stores on Thanksgiving evening

(Reuters) - U.S. shoppers had splurged more than $1.52 billion online by Thanksgiving evening, and more bargain hunters turned up at stores this year after two weak holiday seasons as retailers opened their doors early on the eve of Black Friday.

Global stocks set for first weekly gain in three, euro edges up

LONDON (Reuters) - World stocks hovered below record highs on Friday, set to reverse two straight weeks of losses while the euro hit its highest levels in six weeks following stronger than expected economic data this week.

Uber told SoftBank about data breach before telling public

(Reuters) - Uber Technologies Inc said on Thursday that it discussed a massive data breach with potential investor SoftBank Group Corp ahead of going public with details of the incident on Tuesday.

CBS, Dish agree carriage terms; blackout ends

(Reuters) - CBS Corp and Dish Network Corp resolved a dispute over the fees the satellite TV provider pays to the broadcaster, ending a three-day blackout that affected customers across 26 states.

Europe's retailers tempt shoppers with Black Friday deals

LONDON (Reuters) - Retailers across Europe chased shoppers on "Black Friday" in a test of consumer demand, particularly in Britain where the spending spree imported from the U.S. has become a particular feature.

Clariant snubs review demand as showdown with White Tale looms

ZURICH (Reuters) - Clariant on Friday rejected its largest shareholder White Tale's demand for an independent strategic review and three board seats, setting up a showdown with the activist investor which blocked its $20 billion merger with Huntsman .

Uber, Yandex ride services can merge in Russia, regulator FAS rules

MOSCOW (Reuters) - Uber [UBER.UL] and Yandex's ride-sharing businesses can merge in Russia, anti-monopoly regulator FAS ruled on Friday, but stipulated that the combined company not bar drivers from working for competitors.

Monsanto says Mexico revokes permit to market GMO soy in seven states

MEXICO CITY (Reuters) - Monsanto Co said on Thursday that Mexico's agriculture sanitation authority SENASICA had revoked its permit to commercialize genetically modified soy in seven states, criticizing the decision as unjustified.

Spotlight on RBS in Bank of England stress test

LONDON (Reuters) - The Bank of England will publish stress test results for seven of Britain's major banks on Tuesday, which will put the spotlight on Royal Bank of Scotland now the government has revived plans to sell its majority stake.

New Uber CEO Waited 2 Months To Disclose Data Breach To Investors, Customers

Earlier this month, newly minted Uber CEO Dara Khosrowshahi made his first high-profile public appearance when he sat down for an interview with the New York Times's Andrew Ross Sorkin. Speaking in dulcet tones, Khosrowshahi laid out his vision for making Uber's workplace culture more inclusive, for building out the product, working with regulators who famously chafed at some of the policies of his predecessor, while also discussing his relationship with Uber's board members, including former CEO and founder Travis Kalahnick.

Or course, whatever goodwill Khosrowshahi earned from that public-relations coup quickly dissipated earlier this week when he disclosed that hackers had stolen personal data from some 57 million accounts in October 2016 - one year earlier. Furthermore, he admitted that Uber - under Kalanick's orders - paid the hackers a $100,000 bribe to delete the data, which they said they did. Compromised data from the October 2016 attack included names, email addresses and phone numbers of over 50 million Uber riders around the world, the company told Bloomberg on Tuesday.

The personal information of about 7 million drivers were accessed as well, including some 600,000 U.S. driver's license numbers.

Why Decentralized Trade on the Blockchain is the Future

Thanks to the buzz surrounding bitcoin and blockchain, decentralization as an approach to services is now also being brought to mainstream discussions.

Bitcoin was built as a decentralized currency in the aftermath of the great recession. It was a reaction to the control centralized authorities such as banks have over people's financial activities. When banks failed, so did the people who entrusted these institutions with their money. Today, bitcoin continues to reach all-time highs in price. Its value is determined largely by the market and not by some central bank.

If bitcoin can disrupt the current model of currencies, then decentralization should also be applicable to other financial activities such as trade. In the context of trade, marketplaces and exchanges are also mainly controlled by centralize ...

S&P Futures Hit Record High As European Euphoria Takes Over Forgotten China Rout

Yesterday's China stock market rout, in which the Shanghai Composite tumbled the most since June 2016 to three month lows, and which prompted traders to question the dedication of Beijing's plunge protection team, appears to have been forgotten, with the Composite closing unchanged on Friday after some early session weakness, as Chinese yields declined broadly across the board from 3 years highs. As a result, world stocks hovered just below record highs, and set to reverse two straight weeks of losses, and with Asian markets mostly in the green, as MSCI's Asia-Pacific ex Japan index rose 0.2%, the optimism spread to Europe where Germany's IFO Business Climate hit a new record high...

#EUROBOOOM! #Germany's #Ifo index hits another record-high! pic.twitter.com/L9z7b7Of8I

— jeroen blokland (@jsblokland) November 24, 2017

... and now points to a Y/Y GDP growth of 4%.

America's New "Trick" To Beat Black Friday Crowds: Wear Employee Uniforms

US shoppers' lust for Black Friday bargains this year has reached absurd new levels, evidenced by a viral joke that morphed into a disturbing new trend to help shoppers beat Wal-Mart and other big box store crowds by disguising themselves as temporary holiday employees. It started when Twitter user @OverlyLiked announcing he would be selling his Walmart vest for $100.

"I'm selling this Walmart vest for $100," he wrote. "Use it to skip the line during Black Friday. You can even walk in, grab what you want, and walk out."

I'm selling this Walmart vest for $100. Use it to skip the line during Black Friday. You can even walk in, grab what you want, and walk out????????‍??. pic.twitter.com/Q0UyDHUeU0

— 6'4 (@OverlyLiked) November 20, 2017

Although the tweet was reportedly meant as a joke, earning @OverlyLiked more than 30,000 retweets and almost 80,000 likes, it wasn't long before he was being inundated with real requests to buy his shirt.

Rio Tinto Isn't Tesla; It Should Hold Fire On a Lithium Bet

Lithium-battery and electric-vehicle plays are enjoying a futuristic ride into the stratosphere. Rio Tinto shouldn't follow—at least not yet.

It's Not the Leverage, It's the Illiquidity That Will Hurt

Too much short-term debt backing long-term assets fueled the last credit bubble a decade ago. This time round, investors are hunting for yield in hard-to-trade, often private assets.

Investors Have Gotten Too Complacent on China Debt

China is right that industrial capacity cuts are helping steel and coal firms to reduce debt and banking-sector risks. Investors are wrong to conclude the battle is won.

Rail Week Ending 18 November 2017: Economically Intuitive Sectors Improved

Week 46 of 2017 shows same week total rail traffic (from same week one year ago) expanded according to the Association of American Railroads (AAR) traffic data. The economically intuitive sectors remain in expansion and the rolling average growth rate was statistically unchanged.

Caught In A Crisis Abroad

from STRATFOR

-- this post authored by Scott Stewart

The past week, a "non-coup" forced Zimbabwe's Robert Mugabe from power. And while the Kenyan Supreme Court certified the re-election of Uhuru Kenyatta, it is almost certain the country's political unrest will continue. But this turmoil is not really that unusual; there almost always are crisis events of one type or another roiling some part of the world during any given week. And this means that at any given time there are travelers or expatriates who find themselves caught in tense situations in a foreign country. We thought it would be helpful to provide some guidance on how to react when caught in such a situation.

Market Extra: Here is Goldman's Black Friday play for retail stocks

One of the biggest shopping days of the year is here, and that means retail companies will be seeing a lot of action—both by consumers getting ready for Christmas, and from Wall Street traders playing the action.

Need to Know: The case for a contrarian Down Under trade while others shop and drop

It's Black Friday, so lots of traders are buying TVs or other gadgets, rather than going on a spending spree for stocks or FX plays. But contrarian traders might want to consider the Australian dollar, says our call of the day.

Mark Hulbert: Investors can feel safe ignoring the Black Friday and Cyber Monday shopping reports

You learn nothing about the stock market's performance in December by focusing on its immediate reaction to Black Friday.

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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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