Written by Gary
US stock future indexes are up 0.7% this morning, but may repeat yesterday’s morning dip and show a loss for the day, but then again . . . Such are the woeful worries of investors now. NY Fed President William Dudley sees downside risks to his U.S. economic outlook, grim data coming out of China and the eurozone factory activity expanded at its weakest pace for a year. Markets are expected to open higher.
Here is the current market situation from CNN Money | |
European markets are broadly higher today with shares in Germany leading the region. The DAX is up 1.30% while France’s CAC 40 is up 0.67% and London’s FTSE 100 is up 0.57%. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
Deutsche Telekom puts sale of T-Mobile U.S. on ice: sources FRANKFURT (Reuters) – Deutsche Telekom has put the sale of T-Mobile US on ice as an auction of radio airwaves will keep it busy for most of the year and potential suitors are expected to wait for a more favorable political environment toward telecoms mergers, two sources said on Tuesday. | |
Fed’s Dudley sees risks to U.S. economic outlook tilting to downside HANGZHOU, China (Reuters) – An influential Federal Reserve official on Tuesday said he sees downside risks to his U.S. economic outlook, an assessment that could flag a longer pause before the Fed’s next interest-rate hike than he and his colleagues had earlier signaled. | |
Fiat Chrysler February U.S. sales rise 12 percent DETROIT (Reuters) – Fiat Chrysler Automobiles February U.S. auto sales rose 12 percent as the carmaker again showed strong Jeep SUV and Ram truck sales. | |
Handbag maker Kate Spade’s same-store sales top expectations (Reuters) – Handbags and accessories maker Kate Spade & Co reported better-than-expected quarterly sales at established stores, driven by demand for its kate spade new york line of products. | |
Futures rise on oil gains, hopes of stimulus (Reuters) – U.S. stock index futures were higher on Tuesday, as oil prices held on to gains and weak economic data globally raised hopes of a further easing of monetary policies. | |
Rolls-Royce cars CEO seeks younger customers via social media GENEVA (Reuters) – Rolls-Royce customers are getting younger, Chief Executive Torsten Mueller-Oetvoes says, as the luxury carmaker embraces YouTube and Instagram and prepares to replace its aging flagship, the Phantom. | |
Euro sinks as weak data piles pressure on European Central Bank LONDON (Reuters) – The euro hit its lowest in almost three years against the yen while European shares extended their strongest run of the year on Tuesday as data from around the region bolstered the case for more ECB stimulus next week. | |
Sam’s Club hires regional buyers, sees ‘local’ food as key in upscale shift (Reuters) – Sam’s Club, the warehouse club unit of Wal-Mart Stores Inc, is building a team of regional U.S. buyers to bring in more local and organic groceries, a strategy used by rival Costco Wholesale Corp to drive loyalty and attract wealthier customers. | |
Uber’s real estate footprint unmatched among S.F. Bay Area startups SAN FRANCISCO (Reuters) – Uber’s new Oakland headquarters is about four times bigger than Internet radio service Pandora Media’s office nearby, and will house about five times the number of employees that ride-hailing competitor Lyft has at its headquarters. | |
Gold Retests $1250 After Dismal Global Data DumpFrom decoupled American to deteriorating China, PMIs (and plenty of other data) is rapidly descending into the ugly reality that every mainstream economist is in denial about. Of course, this terrible news is terrific news for stocks (moar stimulus) but it is Gold that appears to be benefitting most as the inevitability of the next extreme monetary policy makeover looms ever closer… | |
Gold Rose Another 10% In February – Best Month Since January 2012Gold Rose Another 10% In February ” Best Month Since January 2012 Gold bullion rose 10.1% in February adding to the 7% gains seen in January. This means that gold is the best performing asset this year, up 17% so far in 2016. Silver is the next best performing asset with an 8% gain year to date, followed by US Treasuries (30 Year Bond) which have gained 7.8% so far in 2016. Comparatively, the S&P 500 index is down 4.7% this year, the Dow Jones Industrial Average is down 4.5% and the NASDAQ is down 7.8%. International indices have also seen losses with the FTSE down 2.6%, the DAX down 10.7% and the Nikkei down 13.7% (see table below). Market Performance in February ” Finviz.com Gold is again acting as a hedge for investors and pension owners exactly when they need a hedge. The biggest influence going forward for gold is œlikely to be risk appetite and concerns about markets and the global economy, Mark O’Byrne, research director at GoldCore told Marketwatch. œIf stock markets begin to recover and make gains and risk appetite returns, then gold could come under selling pressure, he said. œHowever, we believe the volatility seen … | |
Today’s Rally Explained: Gartman Is Again “Selling The Markets Short” Just Two Days After Turning BullishThis past Friday morning, when the tremendous bear market rally finally fizzled after an initial spike higher following by gradual daylong selling which closed the market in the red, following by another red close on Monday, we warned the bulls early that the “Rally is in Jeopardy” for one simple reason: Gartman had covered his shorts. As a reminder, this is what he the perennial CNBC guest said early on Friday morning:
We were particularly amused because just one day … | |
NYSE Owner ICE, CME Mull LSE BidsIntercontinental Exchange and CME Group are considering bidding for London Stock Exchange, potentially gate-crashing the British company’s proposed $28 billion merger with Deutsche Börse. | |
Barclays Shares Plummet on Dividend Cut, Wider LossShares in Barclays dropped more than 10% after the bank said it would slash future dividends and set out plans to sell down its African business. | |
Global Stocks Edge HigherMarkets started the month higher Tuesday as investors shrugged off fresh signs of weakness in the Chinese economy and late-session losses on Wall Street. | |
Darrell Delamaide’s Political Capital: Which one do you hate the least? Hillary Clinton or Donald Trump?Both Hillary Clinton and Donald Trump have high unfavorable ratings, which means the election of the next president could come down to voters choosing which one they hate least. | |
Deep Dive: These ‘Dividend Aristocrat’ stocks have risen up to 24% a year for a decadeHaving a long-term outlook can settle the mind, especially with these rock-solid companies, says Phil van Doorn. | |
Marvell hiring of conflicted audit firm under SEC scrutinyMarvell Technology Group is being investigated by the Securities and Exchange Commission for picking an audit firm that already had provided services. |
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