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06Dec2017 Pre-Market Commentary: U.S. Stock Index Futures Pointing To A Negative Open, WTI Crude Dipping Into The 56 Handle, Holy Sell-off Underway As Trump Recognizes Jerusalem As The Capital Of Israel

Written by Gary

US futures point to a lower opening (SPY -0.2%) as investors await fresh data and market weakness worldwide weighs. There's overwhelming evidence that the U.S. stock market is heading for disaster, says John Mauldin.


Here is the current market situation from CNN Money

European markets are mixed. The FTSE 100 is higher by 0.14%, while the DAX is leading the CAC 40 lower. They are down 0.94% and 0.49% respectively.

What Is Moving the Markets

Here are the headlines moving the markets.

Canada scraps plan to buy Boeing fighters amid trade dispute: sources

OTTAWA (Reuters) - Canada is scrapping a plan to buy 18 Boeing Co Super Hornet fighter jets amid a deepening dispute with the U.S. aerospace company, three sources familiar with the matter said on Tuesday.

Exclusive: Ford set for China tie-up with Alibaba to test online, direct auto sales - source

BEIJING (Reuters) - Ford Motor Co is expected to sign as early as Thursday a deal with Alibaba Group Holding Ltd which may allow the U.S. automaker to test selling cars to consumers in China through Alibaba's online retail arm Tmall, as well as via a new "auto vending machine" store concept, according to a Ford source familiar with the matter.

Britain pushes back date for provisional findings in Sky-Fox deal

LONDON (Reuters) - Britain's competition regulator will publish its provisional findings into the planned takeover of pay-TV group Sky by Rupert Murdoch's Fox in January and not December as originally planned, it said on Wednesday.

Google pulls YouTube from Amazon devices, escalating spat

(Reuters) - A rare public spat in the technology industry escalated on Tuesday when Google said it would block its video streaming application YouTube from two Amazon.com Inc devices and criticized the online retailer for not selling Google hardware.

UnitedHealth to buy DaVita's medical unit for $4.9 billion

(Reuters) - UnitedHealth Group Inc said on Wednesday it would buy kidney care services provider DaVita Inc's medical unit for about $4.9 billion cash, as the health insurer looks to expand operations in outpatient care services.

California Department of Insurance seeks to suspend Wells Fargo's licenses

(Reuters) - The California Department of Insurance is seeking to suspend or revoke Wells Fargo & Co's licenses for alleged improper insurance sales practices related to the company's online insurance referral program.

Tech tremors spread to financials to spoil global rally

LONDON (Reuters) - Tremors in technology stocks spread to Europe and were set to dent U.S. trading on Wednesday, with weaker metals prices and flagging financials also tripping up a rally that had taken world equities to record highs.

Exclusive: Baupost expected to make quick profit in Westinghouse bankruptcy- sources

(Reuters) - Hedge funds led by the Baupost Group LLC are poised to score a $170 million profit in less than three months from a bet tied to Toshiba Corp's bankrupt nuclear unit Westinghouse Electric Corp, according to three people familiar with the matter.

Home Depot sets new $15 billion buyback, long-term sales target

(Reuters) - Home Depot Inc , the largest U.S. home improvement chain, on Wednesday announced a new $15 billion share buyback plan and set a target to grow annual sales to between $114.7 billion and $119.8 billion for the year ending January 2021.

"Declaration Of War": Trump Jerusalem Decision Sparks Outrage, Warning Of "A Fire With No End In Sight"

Today at 1pm, president Trump will announce the U.S. recognizes Jerusalem as the capital of Israel, but will sign a waiver delaying the relocation of the U.S. embassy from Tel Aviv to there for 6 months. Trump's decision to unilaterally recognize Jerusalem upends decades of American policy in the Middle East and risks inflaming violence in an already-tense region. And sure enough, the announcement prompted an immediate - and furious - response sparking Arab, Muslim and European opposition to a move that would upend decades of U.S. policy and risk potentially violent protests.

While Israel naturally welcomed the news, Palestinian officials declared the Mideast peace process "finished", calling it a declaration of war, and Turkey announced it would host a meeting of Islamic nations next week to give Muslim countries' leaders an opportunity to coordinate a response.

Palestinian Authority President Mahmoud Abbas and Jordan's King Abdullah II, warned him the announcement would have "dangerous" repercussions for regional stability. Separately, the Palestinian delegate to the United Kingdom said on Wednesday that President Trump's move to recognize Jerusalem as the capital of Israel signals "a declaration of war" in the region. "He is declaring war in the Middle East, he is declaring war against 1.5 billion Muslims, hundreds of millions of Christians that are not going to accept the holy shrines to be totally under the hegemony of Israel," Manuel Hassassian told BBC 4 Radio's "Today."

The Palestinians seek east Jerusalem as the capital of a future independent state and fear that Trump's declaration essentially imposes on them a disastrous solution for one of the core issues in the Israeli-Palestinian conflict. "There is no way that there can be talks with the Americans. The peace process is finished. They have already pre-empted the outcome," said Palestinian official Hanan Ashrawi. "They cannot take us for ...

"The Silence Breakers" - Time Reveals "Person Of The Year" 2017

President Trump will not be pleased...

Two days after releasing the list of contenders for its 2017 "Person of the Year" special issue, Time Magazine has published the issue's cover, revealing its selection to the world.

And the winner is...

...The #MeToo movement - or, as Time phrases it, "The Silence Breakers"

Adding an amusing dash of irony to the pageantry surrounding this year's unveiling, Time editor-in-chief Edward Felsenthal revealed the cover, a composite group photo that includes actress Ashley Judd, singer Taylor Swift and former Uber engineer Susan Fowler, live on the TODAY show, a program that has been rocked by the national reckoning with sexual harassment in the workplace that these women purportedly helped unleash. Longtime co-host Matt Lauer was abruptly fired last week as eight women came forward to accuse him of harassment and assault.

For those who are unfamiliar with the reasoning behind these reasons, Judd went on-the-record in the original New York Times expose about Harvey Weinstein's multi-decade history of sexual assault and harassment - the piece that's widely credited with sparking the national movement - Swift won a civil lawsuit against a radio DJ who she said 'groped her ass' during a meet-and-greet a few years back, Fowler published a blog post about Uber's "frat" culture that eventually led to the company hiring former Attorney General Eric Holder to conduct an internal investigation.

"The galvan ...

Pound Tumbles Amid Brexit Chaos, "Headline Havoc"

Cable traders are suffering through a news overload this morning, with the optimism and euphoria which sent the pound to two month highs as recently as 2 days ago fading fast on speculation whether UK PM Theresa May will be able to engineer a Brexit breakthrough in time. And following overnight speculation that her cabinet may revolt, and what one desk dubbed "headline havoc" this morning in which DUP sources saying that there will be no deal this week, it's looking increasingly in jeopardy.

Overnight the Telegraph and Bloomberg reported that Theresa May is facing a revolt from inside her Cabinet over her plan to keep U.K. regulations aligned with the European Union after Brexit, "a split that threatens to undermine her chances of breaking the deadlock in negotiations." Foreign Secretary Boris Johnson and Environment Secretary Michael Gove "will lead a Cabinet revolt against Theresa May over fears she is forcing a soft Brexit" the Telegraph reported. While this is hardly the first time we've heard this sort of speculation, considering the closeness to the EU Council Summit next Thursday/Friday, the clock is ticking for May to come up with a solution.

That may be tricky because with just days to go until a deadline to get talks back on track and the pound sliding for a second day, May is struggling to get the Northern Irish party that props up her government to sign up to her Brexit strategy. Wednesday had been tipped as the day May could head back to Brussels to resume talks that suffered an embarrassing breakdown on Monday. Explaining the tension, DB's Oliver Harvey believes the question of a December breakthrough is now in doubt after the DUP rejected the proposed comp ...

UK Pensions Risk - Time to Rebalance and Allocate to Cash and Gold

UK Pensions Risk - Time to Rebalance and Allocate to Cash and Gold

- Value of Sterling and increased risks place pressure on pensioners both in UK and abroad
- 500,000 British expats face 'frozen' pensions
- 61% of UK Direct Benefit pension schemes have more money going out than coming in
- OECD report finds 'UK workers face the biggest retirement cliff edge in developed world'
- Combined pension deficit of FTSE 350 companies is at 70% of their profits
- One in three wealth managers are holding cash for clients in anticipation of a market crash

Source:

Pharma's Helping Hand May Pinch Investors

Scrutiny patient-assistance charities, of a key profit source for the drug industry, is increasing. That means it is getting harder for investors to forecast industry growth.

Investors and the Gender-Equality Agenda

There are ways for investors to promote workplace fairness that go beyond calling for more women on boards.

Why Uranium Miners' Glow Is Temporary

Shares of Cameco and other miners soared after Kazakhstan said it would cut back exports of uranium, but it may take years to balance the market.

October 2017 Leading Index Review: Growth Trends Show Improvement

Written by Steven Hansen

This post is a review of all major leading indicators follows - and their trends are generally indicating stronger growth.

Market Extra: Canadian-dollar bulls look for hawkish central bank and a rate hike by March

The sentiment for the Canadian dollar, which has been under some pressure since September, has changed for the better, and investors are bracing for a more hawkish central bank going forward.

FA Center: Index funds now are part of an investor's biggest problem

New ETFs and other products encourage stock picking and market timing, writes Mark Hulbert.

Market Extra: Trader who predicted oil under $30 says prices could rally to $100

The oil market has a problem. And it's not a global glut, but rather that supply won't meet rising demand in the long run unless crude prices jump back to $100 a barrel, according to a well-known fund manager.

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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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