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30Jan2018 Pre-Market Commentary: Wall Street Sell-off Continues For A Second Day, Dow Futures Have Dropped 227 Points, President Trump Will Deliver His First State Of The Union Address Tonight

Written by Gary

The US equities main benchmarks are markedly lower for a second straight day (SPY -0.5%). UnitedHealth shares drop 6.7 percent on entry by Amazon, Berkshire Hathaway and JPMorgan.


Here is the current market situation from CNN Money

European markets are lower today with shares in London off the most. The FTSE 100 is down 0.62% while Germany's DAX is off 0.47% and France's CAC 40 is lower by 0.38%.

What Is Moving the Markets

Here are the headlines moving the markets.

Pfizer profit tops estimates, books $11 billion tax gain

(Reuters) - Pfizer Inc beat analysts' estimate for adjusted profit on Tuesday, helped by strong demand for its pneumonia vaccine Prevnar and breast cancer drug Ibrance, while also reporting an $11 billion gain from the new tax law.

Futures dip as bond yields, Apple again weigh

(Reuters) - U.S. stock index futures were lower for a second straight day on Tuesday, with Dow futures falling more than 150 points, weighed down once again by a drop in bond yields and a dip in Apple.

U.S. washer tariffs put Samsung, LG supply chains through the wringer

SEOUL (Reuters) - When South Korea's Samsung Electronics and LG Electronics last year announced plans to build home appliance factories in the United States, they hoped to sidestep any fallout from President Donald Trump's "America First" manufacturing and jobs mantra.

Exclusive: Blackstone in talks to buy majority stake in key Thomson Reuters unit

LONDON (Reuters) - U.S. private equity firm Blackstone Group LP is in advanced talks to buy an approximate 55 percent stake in the Financial and Risk business of Thomson Reuters Corp, a deal that would value the unit at about $20 billion including debt, three sources familiar with the matter said on Monday.

Amid angst over iPhone X, Wall Street braces for weak forecast from Apple

SAN FRANCISCO (Reuters) - When Apple Inc announces its first-quarter earnings on Thursday, investors will seek signs of whether the company's $999 iPhone X launched last autumn was a Steve Jobs-style hit or, as more analysts suspect, a letdown.

Walmart to share inventory data with suppliers in battle with Amazon

NEW YORK (Reuters) - Wal-Mart Stores Inc said on Tuesday the company will share more data with suppliers to move faster in replenishing out-of-stock items as it tries to better compete with rivals like Amazon.com Inc

Health insurer Aetna quarterly profit soars 75.5 percent

(Reuters) - Aetna Inc , which has agreed to be bought by CVS Health Inc , reported a 75.5 percent rise in quarterly profit on Tuesday, due to lower restructuring and transaction and integration-related costs.

VW CEO says stunned by 'repulsive' diesel fume tests

FRANKFURT/BERLIN (Reuters) - Volkswagen's CEO said he was "stunned" by reports the carmaker had sponsored tests that exposed monkeys and humans to toxic diesel fumes and, two years after an emissions cheating scandal, pledged once again to get to the bottom of the wrongdoing.

Amazon, Berkshire, JPM team up for cheaper employee healthcare

(Reuters) - Amazon.com Inc , Berkshire Hathaway and JPMorgan Chase & Co are forming a venture aimed at lowering healthcare costs for their U.S. employees, they said on Tuesday, sparking a slide in the shares of a host of healthcare-related companies.

Frontrunning: January 30



Immigrants to Be in Spotlight at State of Union (WSJ)

Amazon, Berkshire, JPMorgan Link Up to Form New Health-Care Company (BBG)

Yellen Leaving Fed With Full Employment, Increased Focus on Labor Market (WSJ)

Market Euphoria May Turn to Despair If 10-Year Yield Jumps to 3% (BBG)

U.S. Names Russian Oligarchs, But Says It's Not a Sanctions List (BBG)

World stocks sucked under by bond market breakout (Reuters)

House Panel Votes to Release GOP Memo on Russia Probe (WSJ)

Trump's Push to Fire Mueller Heightens Political, Not Legal, Risk (BBG)

CIA expects Russia to target U.S. mid-term elections (Reuters)

Decade of Easy Cash Turns Bond Market Upside Down (WSJ)

HN ...

US Markets Slammed As Dollar, Bonds, & Healthcare Stocks Slump

After melting up into the close on Friday, US equities are tumbling (following China's lead) as the Dollar and bond prices slump.

Following another ugly night in China...

The Dow is down over 250 points in the pre-open futures market...

UnitedHealth, CVS Health, Anthem, and Aetna among health care stocks tumbling following Amazon-Berkshire-JPMorgan announcement...

Putin Responds To Kremlin List: "It's An Unfriendly Act"

As reproted earlier, while the Trump administration refused to impose new sanctions on Russia - a move which we expect will be widely criticized today - the Treasury on Monday published a list of 210 names viewed as close to Putin's government. It included the names of 96 "oligarchs" and 104 top government officials, as well as CEOs of state companies.

However, the list does not mean that the individuals will face sanctions or impose any restrictions on dealing with them - so no new sanctions were announced, to the relief of RUB and Russian assets which bounced in kneejerk response.

Still, Russia's president was not happy, and shortly after the release, Putin weighed in on the so-called "Kremlin List", saying it was an "unfriendly act" but that Russia would "refrain from retaliating to the US for now." He also joked about his non-inclusion to a US list, noting that he was "offended" not to be part of it.

"The dogs bark, but the caravan moves on," Putin said several hours after the report featuring the entire ...

Amazon, Berkshire And JPMorgan To Form Healthcare Company

In a move that might explain why Amazon has been quietly acquiring pharmacy licenses (not to mention hitting daily all time highs) the e-commerce giant - along with Warren Buffett's Berkshire Hathaway and JP Morgan Chase & Co. - announced on Tuesday morning that they would partner to form a new health-care venture.

This 3-way partnership among Amazon, JPMorgan and Berkshire Hathaway on health care is the most interesting initiative out of corporate America I've seen in quite a while. https://t.co/18AVFnZ5PI.

— Erik Schatzker (@ErikSchatzker) January 30, 2018

In their release, the companies said they are working toward building an independent company focused on technology solutions "that will provide [their] US employees and their families with simplified, high-quality and transparent healthcare at a reasonable cost." They will pursue this end through an independent company that would be free from profit making and other constraints.

They cited the "ballooning costs of health care" as the inspiration for their decision.

Here's more from the press release:

Tackling the enormous challenges of healthcare and harnessing its full benefits are among the greatest issues facing society today. By bringing together three of the world's leading organizations into this new and innovative construct, the group hopes to draw on its combined capabilities ...

Why It Isn't Yet Time to Worry About Emerging-Market Bonds

Despite yields on benchmark 10-year U.S. Treasurys ticking higher, edging above 2.70% this week, the reaction in emerging-market bonds has been muted.

Why Tencent's Latest Property Deal Makes Sense

Tech giant could profit from its involvement in a $5.4 billion deal to take a stake in Wanda Commercial

Wynn Resorts Is the Biggest Test for Investors' Tolerance

Wynn Resorts has lost $3 billion in market value since its founder and chief executive was accused by former employees of behavior that amounts to a decadeslong pattern of sexual misconduct. The situation is unique because of Steve Wynn's role and his outsize importance to the company.

Key Words: Steve Wozniak says he doesn't trust Elon Musk or Tesla anymore

Silicon Valley icon and Apple Inc. co-founder Steve Wozniak no longer believes the hype.

Grow: How much money are you blowing by eating out?

My reluctance to cook at home was keeping me from putting as much money as I wanted to toward my goals.

Earnings Outlook: AMD earnings: Mining for crypto gold, more Spectre details

When Advanced Micro Devices Inc. reports earnings, investors will look at the results for clues about how cryptocurrency mining is figuring into sales and the forecast for indications about the effects of chip-design flaws.

Earnings Summary for Today

Earnings Calendar provided by Investing.com.

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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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