econintersect .com
       
  

FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.



26Dec2017 Pre-Market Commentary: Wall Street To Open Lower, Many Traders Are Still Away For The Christmas Break, Bitcoin Rises 10 Percent, Light Trading Volumes After Christmas Holiday Expected

Written by Gary

U.S. stock index futures are fractionally lower this morning (SPY -0.2%) as the world's major financial markets reopened following a long holiday weekend. Is a so-called Santa Claus rally in the cards?


Here is the current market situation from CNN Money

European markets finished lower on Friday with shares in France leading the region. The CAC 40 is down 0.39% while Germany's DAX is off 0.28% and London's FTSE 100 is lower by 0.15%.

What Is Moving the Markets

Here are the headlines moving the markets.

Bitcoin rises 10 percent, recovers from last week's brutal selloff

SINGAPORE/TOKYO (Reuters) - Bitcoin extended its recovery in holiday-thinned trading on Tuesday, rising 10 percent to be up more than a third from last week's lows of below $12,000.

Apple suppliers drop on report of weak iPhone X demand; analysts' views mixed

BEIJING (Reuters) - Shares in several of Apple Inc's Asian suppliers fell for a second straight day on Tuesday, hurt by a report from Taiwan's Economic Daily and some analysts saying that iPhone X demand could come in below expectations in the first quarter.

Top small-cap funds of 2017 focus on healthcare, tech in year ahead

NEW YORK (Reuters) - Healthcare, technology and Japanese small-cap stocks look poised to outperform the broader market in the year ahead, according to some of the best performing U.S.-based stock fund managers of 2017.

Stock futures lower as Apple, chipmakers weigh

(Reuters) - U.S. stock futures were slightly lower on Tuesday in light trading volumes after Christmas holiday as losses in Apple and a bunch of chipmakers weighed.

Oil slips toward $65 as Forties pipeline moves closer to restart

LONDON (Reuters) - Oil edged lower toward $65 a barrel on Tuesday, but remained within sight of its highest level since mid-2015, as the looming restart of a North Sea oil pipeline offset support from OPEC-led supply cuts.

Aston Martin to recall over 5,000 vehicles in U.S.: safety agency

(Reuters) - British sportscar maker Aston Martin is recalling around 5,500 vehicles in the United States due to problems with powertrains and battery cables, according to documents posted on the National Highway Traffic Safety Administration's (NHTSA) website.

Hyundai Heavy Industries Group to list Oilbank, issue $1.2 billion rights shares

SEOUL (Reuters) - South Korea's Hyundai Heavy Industries Group plans to list its refining arm Hyundai Oilbank in an IPO in 2018 and raise about $1.2 billion via a share issue by shipbuilder Hyundai Heavy Industries , in a move to bolster its finances.

South Korea's Hyundai Motor union rejects tentative wage deal

SEOUL (Reuters) - South Korean automaker Hyundai Motor Co's labor union said on Tuesday its members have rejected the tentative wage deal its leadership had agreed with management last week.

Google looking to launch stores in India to boost Pixel sales: report

(Reuters) - Alphabet Inc's Google is looking to launch brick-and-mortar stores in India to boost sales of its Pixel smartphones, the Economic Times newspaper reported on Tuesday, citing three people with knowledge of the matter.

Japan's Largest Bank Is Preparing A Contingency Plan For A Bitcoin Exchange Collapse

The February 2014 collapse of Tokyo-based bitcoin exchange Mt. Gox was, for more than 24,000 investors around the world, a traumatic event. It also ushered in a two-year crypto bear market that saw the price of a single bitcoin plunge from a peak of $1,200 to a low of around $200 before the torrid bull market of the present day began. And as the bankruptcy and legal issues surrounding the collapse continue to wend through the Japanese legal system, none of these investors have received a single crypto cent of remuneration - despite the ballooning valuation of the exchange's remaining assets.

Many market observers believe that one of the biggest risks to the current rally would be a similar incident unfolding across another major exchange like Bitfinex or CoinBase's GDAX.

So in a move that could go a long way toward legitimizing the burgeoning crypto market, Japanese banking behemoth Mitsubishi UFJ Financial Group which is Japan's largest financial group and the world's second largest bank holding company - through its trust and banking unit - is preparing to launch a service that will allow individual investors to secure their bitcoins in the event an exchange should fail again, according to Nikkei Asia Review.

MUFG isn't the only major global bank seeking to build up its cryptocurrency franchise: Goldman Sachs is reportedly in the process of launching a crypto trading desk. Of course, as observed recerntly, Japan is one of bitcoin's biggest markets, and its largest exchange, Bitflyer, accounts for nearly 40% of global exchange-based ...

Goldnomics Podcast - Gold, Stocks, Bitcoin in 2018. Everything Bubble Bursts?

Goldnomics Podcast - Gold, Stocks, Bitcoin in 2018. Everything Bubble Bursts?

Click here to listen to podcast

In this our first GoldNomics podcast we take a look at the major financial market themes of 2017 and delve into the outlook in 2018. GoldCore CEO Stephen Flood and GoldCore's Research Director and world renowned precious metals commentator Mark O'Byrne are interviewed by Dave Russell.

Macro-economic and geo-political developments are considered in an attempt to assess the risks of a global financial shock in the coming year and the outlook for bitcoin, stocks and gold. We cut through the financial markets jargon and look at the risks to your investment portfolio and financial wellbeing that are largely ignored in the mainstream media.

Watch, listen and subscribe below

Asian Stocks Slide On iPhone X Demand Fears; US Futures Flat In Thin Holiday Trading

For the second day in a row, most Asian markets - at least the ones that are open - were dragged lower by tech stocks and Apple suppliers, with the MSCI Asia Pacific Index down 0.2% led by Samsung Electronics and Taiwan Semiconductor Manufacturing in response to the previously noted report that Apple will slash Q1 sales forecasts for iPhone X sales by 40% from 50 million to 30 million. Most Asian equity benchmarks fell except those in China. European stocks were mixed in a quiet session while U.S. equity futures are little changed as markets reopen after the Christmas holiday.

Away from Asia, stocks remained closed across the large European markets, as well as in parts of Asia including Australia, Hong Kong, Indonesia, the Philippines and New Zealand. Japanese benchmarks slipped from the highest levels since the early 1990s, helping to pull the MSCI Asia Pacific Index down, while shares in Dubai, Qatar and Russia were among the big losers in emerging markets. S&P 500 futures were flat as those for the Dow Jones slipped. The euro edged lower with the pound - although there were no reverberations from Monday's odd EURUSD flash crash which was only observed on Bloomberg feeds, while Reuters ignored it even if the FT did note it...

... while the Russian ruble, South African rand and South Korean won were the notable gainers. Gold extended its recent advance as silver also ...

Why Is Alphabet CEO Eric Schmidt Technically Serving In The Department Of Defense?

Authored by Eric Lieberman via The Daily Caller,

Eric Schmidt, chief executive of Google parent company Alphabet, was appointed chairman of a Department of Defense program in 2016 that was established by former President Barack Obama's administration.

A staunch supporter of the Democratic Party and critic of President Donald Trump, Schmidt still continues to lead the Defense Innovation Board (DIB), even well after the new administration took over in January. This begs the question: should Schmidt's history of partisan advocacy and condemnation of Trump be a worrisome prospect for the current White House?

Regardless of the answer, Trump's retention of Schmidt may be emblematic of more than political divisiveness within the current administration, like from "Obama holdovers." In fact, it may be the opposite of unwanted internal discord and a sign of an underlying ethos for the Trump administration — diversity of thought.

"When you look at the composition of the initial Economic Advisory Board, it kind of reminds me of what Trump is doing here," Justin Danhof, general counsel of the National Center for Public Policy Research and director of the Free Ente ...

Chip Makers Aren't Stacking Bets on Cryptocurrencies

Cryptocurrencies have been a winning bet this year, but the chip makers who play a key role in the market are still playing their hands very cautiously.

Don't Expect Plain Sailing For Emerging Markets in 2018

The asset class had a terrific year in 2017. But investors shouldn't overlook lurking risks for next year.

Games Companies Play, Tax-Cut Edition

By timing expenditures, companies can boost the advantage of the sudden change in corporate taxes, but they will wreak havoc on economic and profit statistics.

The Moneyist: What NOT to do when you re-gift your unwanted swag after the holiday season

Re-gifting can get you out of a jam, but it can backfire.

The Moneyist: My mother lives in poverty and spends everything I give her — should I stop paying her debts?

After years of helping, this daughter has redrawn the boundaries.

6 gadgets NOT to buy in 2018

People may want to hold off on buying some consumer electronics next year.

Earnings Summary for Today

Earnings Calendar provided by Investing.com.

leading Stock Positions

Leading Stock Quotes powered by Investing.com

Current Commodity Prices


Commodities are powered by Investing.com

Current Currency Crosses

The Forex Quotes are powered by Investing.com.



To contact me with questions, comments or constructive criticism is always encouraged and appreciated:

gary@econintersect.com

Click here for Historical Releases Listing










Make a Comment

Econintersect wants your comments, data and opinion on the articles posted. You can also comment using Facebook directly using he comment block below.




Econintersect Live Market







search_box
Print this page or create a PDF file of this page
Print Friendly and PDF


The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.







Keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government




























 navigate econintersect .com

Blogs

Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day
Weather

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2018 Econintersect LLC - all rights reserved