Written by Gary
Mixed Monday on Wall Street after trade talks kick off and China equities rise (SPY +0.06%). The SP 500 has teetered around its flat line for most of the session.
The Market in Perspective
Here are the headlines moving the markets. | |
![]() | S&P 500, Nasdaq end choppy session with tiny gainsThe S&P 500 and the Nasdaq eked out nominal gains while the blue chip Dow Industrials edged lower on Monday in a choppy session as investors eyed ongoing U.S.-China trade talks, potential congressional gridlock and a diminished 2019 earnings outlook. |
![]() | With Iran squeezed out, U.S. oil takes on new rivals in EuropeWhen the global oil trading industry gathered for its biggest annual meeting in Asia in September last year, U.S. oil producing companies came well prepared. |
![]() | Reddit valued at $3 billion after raising $300 million in latest funding roundSocial media network Reddit Inc said on Monday it raised $300 million in its latest funding round, led by Tencent Holdings Ltd, giving it a market valuation of $3 billion. |
![]() | World stocks edge higher ahead of trade talks, BrexitStock markets globally inched higher on Monday after China struck an upbeat tone as trade talks between the United States and China resumed, though worries remained over the fate of Brexit. |
![]() | Public confidence in inflation policy key to containing prices: paperKeeping the public confident inflation will be contained is key to keeping price rises contained, San Francisco Federal Reserve economists said in a paper on Monday that also suggested the unemployment level is all but irrelevant to the inflation trajectory. |
![]() | Exclusive: Bayer’s Monsanto wins arbitration ruling over royalties from Indian seed companyGerman drugmaker Bayer AG’s Monsanto unit has won proceedings against Indian seed maker Nuziveedu Seeds Ltd (NSL) in a royalty dispute, lawyers familiar with the matter said. |
![]() | Exclusive: International development banks criticize Romania over bank tax plansTwo major international development banks, the European Bank for Reconstruction and Development and the International Finance Corporation, have formally complained to the Romanian government about proposed new banking sector taxes. |
![]() | Altria to tap European bond market to help fund Juul stake buyAltria Group will tap the European investment grade corporate bond market to help finance its $12.8 billion purchase of a stake in e-cigarette maker Juul Labs Inc, the Marlboro maker said in a regulatory filing https://bit.ly/2thLVTO on Monday. |
![]() | CalSTRS backs new activist hedge fund Impactive with $250 millionThe California State Teachers’ Retirement System (CalSTRS), the second largest U.S. pension fund said on Monday it made a $250 million investment with Impactive Capital, a new activist hedge fund that expects to start trading next month. |
![]() | Dollar Jumps, Yuan Dumps, Dow Slumps As Chinese Return To WorkThe Lunar New Year celebrations are over – China was up… Europe was up… But The Dow closed down – is that even allowed? Chinese traders returned from their week-long vacation and played catch up to global stocks, with tech-heavy CHINEXT soaring 3.5%… Having drifted lower during the lunar new year celebrations, Offshore Yuan spiked at the open, but then plunged as the day wore on… |
![]() | California’s New Governor To Pull Troops From Border To Protest Trump’s “Manufactured Crisis”In the ultimate signaling of virtue – in favor of illegal immigrants and against the safety of Americans – newly-elected Democrat California Governor Gavin Newsom, desperate for some distraction from the state’s likely bailout of PG&E, has decided to withdraw nearly 400 of his state’s National Guard troops from deployment along the border with Mexico and assign them to other duties, according to aides to the governor. As The NY Times reports, the step to rescind state authorization for the border deployment is a sharp rebuke of President Trump’s continued warnings that undocumented migrants present a national security risk to the United States. It follows a similar move last week by Gov. Michelle Lujan Grisham of New Mexico. Under a “general order” that Mr. Newsom plans to sign on Monday, 110 California National Guard troops will be redirected to support the state’s central fire agency, Cal Fire, and another 10 … |
![]() | All The Ways Gen X Is Financially WreckedAuthored by Catey Hill via MarketWatch.com, Though they’re struggling financially, they’re far less likely than millennials to plan to spend less and save more this year… Reality bites. While millennials garner much of the negative press around financial issues – they live with their parents because they can’t get jobs! They spend all their money on avocado toast! – Gen Xers may be the ones who are really in trouble. Just 16% of Gen Xers say that they included financial planning in their 2019 goals, according to a recent survey from Allianz Life. That’s compared with 27% of millennials. And when asked what 2019 resolution they were most likely to make, and to keep, just 38% mentioned managing money better and saving more; meanwhile 50% of millennials said that. That lack of planning and goal-keeping could make a bad situation worse — as Gen X may already be financially worse off than other generations in a number of ways. They’ve g … |
![]() | Salvini Proposes Seizing Control Of Italy’s Gold Reserves From Central BankItaly’s populist de facto leader Matteo Salvini seems set on shaking Europe’s financial establishment to the core. One day after the Italian deputy prime minister and leader of the League party, called for the elimination of Italy’s central bank and the country’s financial regulator, Consob, saying the two institutions should be “reduced to zero, more than changing one or two people, reduced to zero”, or in other words eliminated, and that “fraudsters” who inflicted losses on Italian savers should “end up in prison for a long time”, Salvini prompted fresh shocked gasps in Brussels and Frankfurt when he raised the possibility of seizing Italy’s massive gold reserves away from the country’s central bank. “The gold is the property of the Italian people, not of anyone else,” Salvini said in comments to reporters on Monday, according to the FT. The controversial comments, which were seen as th … |
![]() | Trump Today: President blasts Democrats over border demands as new shutdown loomsPresident Donald Trump on Monday blasted Democrats over border-security talks as Washington was scrambling to avoid a fresh government shutdown at the end of the week. |
![]() | Bond Report: Treasury yields climb as global stocks buoyed by fresh round of trade talksTreasury prices were slightly lower Monday, nudging yields higher, as a U.S. delegation arrived in China to discuss trade |
![]() | Key Words: A price-fixing oil ‘cartel’? That’s not OPEC, says OPEC secretary-generalOPEC’s secretary-general insists the organization doesn’t fix oil prices and is no cartel. |
Summary of Economic Releases this Week
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