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29Jan2018 Market Update: Wall Street's Retreat Lead By Apple, Dow Slumps 100 Points As 10-year Bond Yield Rises Above 2.7 Percent, Gold Index Trends Downward

Written by Gary

The US equities main benchmarks dropped today (SPY -0.4%), easing from record levels last week. Wall Street's 'fear gauge' quietly climbs to highest level in 5 months as stocks stumble

Here is the current market situation from CNN Money

Traders Corner - Health of the Market


What Is Moving the Markets

Here are the headlines moving the markets.

K-Cup owner Keurig grabs Dr Pepper Snapple

(Reuters) - Keurig Green Mountain Inc will buy soda maker Dr Pepper Snapple Group Inc in a deal worth more than $21 billion, bringing the world's biggest single-serve coffee brand, K-Cup, and beverages such as 7UP, Snapple and Sunkist under one roof.

Apple leads Wall Street's retreat from record levels

(Reuters) - Wall Street's major indexes dropped on Monday, easing from record levels last week, weighed down by a slump in Apple after a media report added to concerns about demand for the iPhone X.

U.S. authorities due to make arrests in futures 'spoofing' probe: sources

WASHINGTON (Reuters) - U.S. authorities were set to arrest several people on Monday in connection with a federal investigation into so-called spoofing and manipulation in the U.S. futures market by three European banks, three people with direct knowledge of the matter told Reuters.

U.S. consumer spending rises; savings drop to 10-year low

WASHINGTON (Reuters) - U.S. consumer spending rose solidly in December as demand for goods and services increased, but the gain came at the expense of savings, which dropped to a 10-year low in a troubling sign for future consumption and economic growth.

Hung out to dry twice, Tennessee city stumped by Trump's washer tariffs

CLARKSVILLE, Tenn. (Reuters) - When President Donald Trump imposed steep tariffs on imported washing machines last week it was a "Not Again" moment for officials in this north Tennessee city that has lost jobs to an international trade dispute before.

Apple shares skid on report of iPhone X production cut

(Reuters) - Apple Inc will halve its iPhone X production target for the first three months of the year to around 20 million units, Nikkei reported on Monday, sending its shares down more than 2 percent in early trading.

Trump security team sees building U.S. 5G network as option

WASHINGTON (Reuters) - President Donald Trump's national security team is looking at options to counter the threat of China spying on U.S. phone calls that include the government building a super-fast 5G wireless network, a senior administration official said on Sunday.

NAFTA negotiators still divided, but cite progress in talks

MONTREAL (Reuters) - The United States, Canada and Mexico said they had made progress in the latest round of talks to renegotiate the North America Free Trade Agreement, although the American representative said progress was still very slow.

Sanofi beats Novo to buy Ablynx for $4.8 billion in biotech M&A boom

PARIS/LONDON (Reuters) - French drugmaker Sanofi has agreed to buy Belgian biotech company Ablynx for 3.9 billion euros ($4.8 billion), beating Novo Nordisk and marking its second big deal this month after buying Bioverativ.

"There's Anger Building Out There" - One Man's Message To Davos Elites

One man went to Davos and dared to say what Pepe Escobar thought no one would - that "it's the inequality, stupid."

Amid all the back-slapping exuberance of record high global stock markets and record high global net worth, John McDonnell, the U.K. opposition Labour Party's spokesman on finance, came to the World Economic Forum in Davos with an uncomfortable message for the global elite...

"I just warn the Davos establishment: There's an anger building out there that you need to recognize and deal with,"

As Bloomberg reports, most delegates in Davos have adopted an upbeat tone this week -- reflected in the optimism of top bankers at JPMorgan Chase & Co. and Deutsche Bank AG who told Bloomberg they see a continuation in a global boom in dealmaking.

But as McDonnell warns, there' ...

Three Wild Cards That Could Hurt The Oil Rally

Authored by Kent Moors via,

The 2018 oil rally is happening at breakneck speed.

As I write this, West Texas Intermediate (WTI) is above $65 a barrel while Brent crude is breaching $70 a barrel for the first time since December 2014.

That means, as of yesterday's close, WTI has risen 12.2 percent for the month; Brent 8.1 percent.

Now, I've written about the narrowing of the global crude oil balance for some time.

But it's looking more and more like that balance is arriving quicker than anticipated.

And this is what it'll mean for oil prices...

The Single-Most Important Factor For Oil Prices

The amount of surplus volume in the market will stabilize. That's a fact.

But unlike what some pundits may say, the point isn't to eliminate the surplus.

Excess available supply provides a necessary buffer that restrains large swings in pricing.

It's when traders have concluded the supply is increasing due to overproduction that the downward pressure on prices unfolds.

If that overproduction is further fueled by operators' desperate attempts to keep the doors open, the pricing pressure becomes even more acute.

The last month has ...

Trump Administration Says It Has "No Plans" To Build "Nationalized" 5G Network

Update: Several senior White House officials told Recode Monday that the Trump administration has no plans to build a "nationalized" US 5G network. The presentation, compiled by an unnamed senior NSC aide, was merely a dated proposal that will probably never see the light of day, the officials said.

The administration sources also pointed out that the FCC has a much larger role in setting broadband policy, and Ajit Pai, the current FCC chairman, has said he opposes the nationalization idea.

The NSC, they said, is only one component of a much larger decision-making process on the part of the federal government to set broadband policy. Its say is not final on these matters — and its memo does not appear to have gained traction with other tech-focused arms of the White House, according to multiple sources within the Trump administration.

A spokesman for the NSC, meanwhile, did not respond to an email seeking comment Monday.

* * *

Last night, Axios dropped a bombshell on the week's already brimming news cycle when it published a report and PowerPoint deck created by a National Security Council staffer outlining the necessity of building a nationalized 5G network to guard against cyberthreats.

But while the PowerPoint portrayed a nationalized 5G network as essential for national security, Axios said Monday that the report is generating a fair amount of blowback.

WTF Chart Of The Day: Bitcoin Trust Spikes On Stock-Split

With Bitcoin prices down around 5% overnight and unchanged from Friday's close, shares of the Grayscale Bitcoin Investment Trust are up 8% this morning following news of a 91-for-1 stock split...

GBTC is surging on nothing more than a stock-split...

Sending GBTC's implied price for Bitcoin to over $17,600 - a 55% premium to the underlying price!


Can Apple Find Enough Customers Willing to Pay Up?

Investors anxiously await Apple's second-quarter forecast, as the company needs iPhone sales to remain strong in order to hit Wall Street's current prediction of overall revenue growing 19% this fiscal year.

Dollar's Drop Fuels a Fire That's Already Raging

The decline in the U.S. dollar in 2017 accompanied stronger global growth, in particular in Europe, and spurred risk appetite nearly everywhere.

China's Big Car Makers Are Driving at Different Speeds

The contrasting fortunes of Great Wall Motor and Geely show the once-booming market is no longer lifting all at once.

London Markets: U.K. stocks end higher, boosted by pound's pullback

U.K. stocks close higher for the second session in a row Monday, helped by a drop for the pound and a rally for miners.

Europe Markets: European stocks end lower as losses for banks, oil firms outweigh AMS rally

European stocks end a volatile session in negative territory on Monday, with losses for banks and commodity companies outweighing a rally for chip makers that came after Apple-supplier AMS AG reported a major jump in revenue and lifted its sales forecasts.

Earnings Outlook: McDonald's earnings: '$1 $2 $3 Dollar Menu' should give same-store sales a boost

McDonald's is expected to get a bump in same-store sales from the introduction of a new tiered value menu.

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