10Jul2018 Midday Update: Wall Street Fractionally Higher, But Light Volume And Sideways Trading, DOW Set For Longest Streak In A Month, As SP 500 Touches Nearly 4-month High, WTI Crude Slips Into The 73 Handle

Here is the current market situation from CNN Money

North and South American markets are mixed. The S&P 500 is higher by 0.24%, while the IPC is leading the Bovespa lower. They are down 0.89% and 0.36% respectively.

U.S. job quits rate hits 17-year high; labor market tightening

More American workers voluntarily quit their jobs in May, government data showed on Tuesday, a sign of confidence in the labor market that economists say will soon boost wage growth.

Morgan Stanley’s Pick promoted to head of institutional securities: memo

Morgan Stanley has promoted Ted Pick to head of its trading and investment banking businesses, the most recent elevation for an executive who has overseen several key initiatives at the Wall Street bank.

SEC charges ex-Heartland Payment CEO with insider trading

The U.S. Securities and Exchange Commission on Tuesday charged the former chief executive of Heartland Payment Systems Inc with insider trading for tipping off his longtime romantic partner about the payment processor’s $4.3 billion takeover by Global Payments Inc .

Boeing says first-half orders soar past Airbus

Boeing Co’s first-half aircraft orders were more than double those of Airbus SE , while its jetliner deliveries rose 7.4 percent from the year-ago period.

Oil pares gains on Norway, Libya supply disruptions

Oil prices rose on Tuesday on growing supply disruptions in Norway and Libya, but gains were pared after the United States said it would consider requests for waivers from Iranian oil sanctions.

Air France-KLM CEO hunt signals industry strategy shift under Macron

The hunt for a new chief executive to lead Air France-KLM, a group hobbled by union resistance to cost-cutting at its French brand, is testing President Emmanuel Macron’s resolve for a lighter state touch on the economy.

Tesla goes big in China with Shanghai plant

Tesla Inc Chief Executive Officer Elon Musk on Tuesday landed a deal with Chinese authorities to build a new auto plant in Shanghai, its first factory outside the United States, that would double the size of the electric car maker’s global manufacturing.

Pepsi, oil drive S&P 500 to four-month high

U.S. stocks rose on Tuesday, with the S&P 500 hitting a four-month high, as energy companies got a lift from firming oil prices and strong results from PepsiCo signaled a flying start to the second-quarter earnings season.

Stability needed after CEO exit, say Thyssenkrupp workers, foundation

Thyssenkrupp’s workers and its leading shareholder will serve as an anchor of stability at the company following the sudden departure of Chief Executive Heinrich Hiesinger, they told a German regional newspaper.

Ron Paul: Why Trump’s Iran Isolation Plan May Backfire

Authored by Ron Paul via The Ron Paul Institute for Peace & Prosperity,

In May, President Trump pulled the United States out of the Iran nuclear deal despite Iran living up to its obligations and the deal working as planned. While the US kept in place most sanctions against Tehran, China and Russia – along with many European countries – had begun reaping the benefits of trade with an Iran eager to do business with the world.

Now, President Trump is threatening sanctions against any country that continues to do business with Iran. But will his attempt to restore the status quo before the Iran deal really work?

Seth Klarman Furious After Someone Puts His Value Investing Bible For Sale On Amazon For $9.99

Talk about a value investment.

While Seth Klarman’s “Margin of Safety” out-of-print value investing bible is so south among the investor community and on Wall Street that used hardback copies sell for thousands of dollars, this morning Bloomberg spotted that it was now listed on Amazon Kindle store for paltry $9.99.

After quietly appearing there on July 6, the book has shot to No. 16 on the list of Kindle best-sellers in the business and investing category.

As Bloomberg notes, hard copies, which have become collectors’ items in certain circles of the investment world, were recently advertised on Amazon for as much as $2,500. Photocopied versions have been known to circulate among analysts who are too poor – or too tight-fisted – to pay up for the real thing.

The book first published in 1991 offers an in-depth look into the investing process of Seth Klarman, founder of the Baupost Group hedge fund, whose track record is among the best in the industry, although maybe not so much lately after sounding the alarm on FANG …

Mexico’s New Leftist President ‘Builds A Wall’ On Southern Border To Thwart Illegal Immigration

Mexican President-elect Andrés Manuel López Obrador intends to create a new border-police force to fight illegal immigration, drug trafficking, and illicit firearms trafficking from Central America, his incoming chief of public security Alfonso Durazo, told Bloomberg in an interview Monday.

Durazo indicated that the new border-police force would be part of a much larger regional effort to reduce poverty and violence that plagues so many Central American countries, which ultimately leads to a flood of families crossing into Mexico. He said the new police force will be sizeable and deployed to Mexico’s southern border. Durazo declined to offer more specifics to Bloomberg, but he noted that the police force would be used to secure the northern border as well.

“We’re going to create a border police force that will be highly specialized,” Durazo told Bloomberg.

“They need to apply the law,” against illegal immigration and human trafficking crossing into Mexico, which Durazo points out o …

Nigeria Rated Poorest Country In The World, Despite Oil Earnings

Authored by Irina Slav via OilPrice.com,

Nigeria was recently rated the poorest country in the world, ahead of India, and that’s despite several hundred billion dollars in oil earnings over the last decade, a transparency group has said.

The Nigerian Extractive Industries Transparency Initiative, as quoted by local media, said Nigeria had earned some US$484 billion from oil in the last 10 years, but the state of its population and infrastructure has only deteriorated. According to the organization, the oil earnings were sufficient to meet the need for an annual US$15-billion investment in infrastructure for the next 33 years, but the funds were not used to do that.

Winning the Fox Bidding War Is Just the Beginning

The higher the price goes in the bidding for 21st Century Fox’s assets, the less room there is for error in managing and extracting value from the assets.

Chinese Auto Sales Run Into a Lending Roadblock

China’s crackdown on shadow banking has caused some high-profile blowups. Now it’s driving the country’s car makers off course.

Twitter’s Wings Needed a Clip

Crackdown on fake accounts raises doubts about the company’s recent growth.

May 2018 Headline JOLTS Job Openings Situation Little Changed

Written by Steven Hansen

The BLS Job Openings and Labor Turnover Survey (JOLTS) can be used as a predictor of future jobs growth, and the predictive elements show that the year-over-year growth rate of unadjusted private non-farm job openings slightly improved. The headline data marginally declined but was little changed from last month.

Economic Report: Americans quitting their jobs at fastest rate since 2001 — and that’s a good thing

Job openings in the U.S. slipped to 6.64 million in May from a record 6.84 million as companies filled more open positions, reflecting a fast-charging U.S. economy whose steady growth has pushed the unemployment rate down to an 18-year low.

Capitol Report: Trump set to make Supreme Court even more pro-business with Kavanaugh pick

President Trump on Monday night picked Brett Kavanaugh to fill an open seat on the Supreme Court, potentially creating the most business friendly high court since before the New Deal in the 1930s.

Earnings Outlook: Bank earnings are expected to shine, but their stocks may not

Against the current backdrop of a flattening yield curve, it’s not clear that strong results will succeed in reviving stock prices that have underperformed the broader market since February, as the initial euphoria around the tax revamp, deregulation and the economy dimmed.