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.



08Jan2018 Pre-Market Commentary: Wall Street Main Benchmarks Slip In Opening Trading, Oil Approaches 2015 Highs On Fewer US Rigs, US Dollar Is Showing Strength

Written by Gary

US stock markets slip as the rally takes a breather (SPY -0.1%) as investors are turning their focus to the fourth quarter earnings season. World stock markets hovered close to all-time highs and showing little sign of running out of steam.


Here is the current market situation from CNN Money

European markets are mixed today. The CAC 40 is up 0.30% while the DAX gains 0.29%. The FTSE 100 is off 0.10%.

What Is Moving the Markets

Here are the headlines moving the markets.

World stock rally rolls on with best start in eight years

LONDON (Reuters) - World stock markets hovered close to all-time highs on Monday as the best start to a year in eight years showed little sign of running out of steam, with the combination of strong global growth and low inflation powering the appetite for risk.

U.S. bank gains from tax law start with red ink

NEW YORK (Reuters) - U.S. bank executives and investors expect a long-term boost from the new federal tax code, but the biggest lenders will first need to book multi-billion-dollar charges that will muddle fourth-quarter results.

Oil approaches 2015 highs on fewer U.S. rigs, OPEC

SINGAPORE/LONDON (Reuters) - Oil prices rose on Monday, coming close to new three-year highs on a slight decline in the number of U.S. rigs drilling for new production and sustained OPEC output cuts.

Futures flat; Caterpillar set for a record open

(Reuters) - U.S. stock futures pointed to a flat open for Wall Street on Monday, with gains in heavyweights Caterpillar and Amazon due to favorable broker recommendations offset by losses for banking stocks.

Rival airlines Emirates, Etihad step closer with security pact

DUBAI (Reuters) - Emirates [EMIRA.UL] and Etihad Airways signed a security pact on Monday to share information and intelligence, the first agreement between the two rival airlines based in the United Arab Emirates (UAE).

Ford to launch diesel truck to grab fuel economy edge

DETROIT (Reuters) - Ford Motor Co plans this spring to offer a diesel engine version of its best-selling F-150 pickup truck, looking to gain a marketing edge as its main rivals ramp up more efficient pickups of their own.

Lululemon says holiday season sales better than it expected

(Reuters) - Lululemon Athletica Inc said on Monday the holiday shopping season was even better that it had expected and raised its profit and revenue forecasts for the fourth quarter, sending the Canadian yoga and leisure apparel maker's shares up.

Starbucks wins dismissal in U.S. of underfilled latte lawsuit

(Reuters) - Starbucks Corp has won the dismissal of a U.S. lawsuit accusing the coffee chain of overcharging customers by underfilling lattes and mochas to reduce milk costs.

China's FAW Car buys 10 percent stake in Mobike's new car-sharing unit

BEIJING (Reuters) - FAW Car Co Ltd said on Sunday it was taking a 10 percent stake in Chinese bicycle-sharing startup Mobike's new car-sharing unit Mobike Chuxing Technology Co.

Grand Jury Empaneled In $10 Million Fraud Probe Involving Jane And Bernie Sanders

An FBI probe into a 2010 property deal orchestrated by Jane Sanders, wife of Sen. Bernie Sanders (I-VT), has escalated after a report by VTDIGGER reveals that a grand jury has been empaneled, and at least one witness has given sworn testimony in the case.

asd
Jane and Bernie Sanders

According to VTDigger, "Former Burlington College board member Robin Lloyd says she testified for about an hour on Oct. 26 before a grand jury at the federal courthouse in Burlington."

Paul Van de Graaf, chief of the criminal division for the U.S. attorneys office in Vermont, questioned Lloyd about her role as the development chair of the colleges board of trustees during a period when Sanders was collecting donations and pledges for the purchase of a $10 million city lakefront property. -VTDigger

The Grand Jury will decide whether or not indictments should be handed down over a $10 million loan orchestrated by Jane Sanders purchase a 33 acre property for the now defunct Burlington College - allegedly obtained through a 'fraudulent scheme.' Mrs. Sanders is accused of having lied about funding for transaction, while the FBI has also been looking into claims that Bernie Sanders' office pressured the bank to approve the loan.

Who Killed The Iran Protests?

One prime indicator that anti-government protests in Iran have truly died down to the point of now being completely snuffed out as reports today suggest, and as we began reporting at the end of last week, is that current headlines are now merely focused on the barely lingering and ephemeral "social media battle" and anonymous YouTube activism, along with multiple postmortem accounts of a failed movement already out. It seems there's now clear consensus that Iran's streets have grown quiet.

It was evident by the end of last week that demonstrations were fizzling - even as the headlines breathlessly attempted to portray a bigger and more unified movement than what was really occurring on the ground. By many accounts, it was the much larger pro-government rallies that began to replace the quickly dying anti-regime protests by the middle of last week.

But a central question that remains is, who killed the Iran protests? There seemed to be a direct correlation between Western and outside officials weighing in with dec ...

Congress Braces For "Political Bomb Cyclone" As Immigration, Funding Debates Flare

As Fox News and Bloomberg pointed out today, since returning from their holiday break last week, Congress has been bracing for a "political bomb cyclone" as a series of high-profile confrontations loom regarding the future of DACA protections and Republicans' ability to keep the federal government operational.

According to Bloomberg, Republicans and Democrats in Congress are once again far apart on a government spending bill with less than two weeks to go before a partial shutdown. They also need to come to an agreement on an immigration package that will preserve protections for undocumented immigrants who were brought to the US as children while also probably allocating some money to Trump's border wall. The continuing resolution passed shortly before holiday break expires on Jan. 19. And what's worse for Republicans, Alabama Sen. Doug Jones has taken his seat, paring the GOP's Senate majority to just one vote. Realistically, Republican and Democratic leaders need to hash out a solution this week, so they can bring the bills to the floor next week.

McConnell

But these aren't the only issues. Increasing spending for the Pentagon, reauthorizing (or k ...

China's Electric Car Market Has Grown Up

Beijing has offered the electric car market plenty of support, but there now appears to be solid demand from consumers to go green. That should give confidence to investors in the sector.

Finally, a Brighter Outlook for Wages

Rising wages have been one important missing element of the economic expansion. Now there is evidence worker pay will start to pick up.

Cooling Ardor for Flashy Smartphones Spells Trouble for Suppliers

Consumers seem less willing to shell out for pricey phones. That means bad weather ahead for Asian companies who make their components.

NewsWatch: These 'Lucky 13' dividend-rich stocks are better bets than the 'Dogs of the Dow'

High-quality stock screen has outperformed popular yield-seeking strategy, writes Mark Hulbert.

'Fire and Fury' is No. 1 on Amazon — will Trump make America read again?

Could Michael Wolff's "Fire and Fury: Inside the Trump White House," a blistering account of the first year of the Trump White House, be enough to get the president — and the rest of America — to turn off their TVs and open a book?

Market Extra: Here's another milestone the S&P 500 could surpass in the coming sessions

The U.S. stock market, which is coming off a year marked by setting milestones for strength, might not be done setting records.

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