Written by Gary
US stocks edged higher today (SPY +0.3%), as consumer spending rose and a benign inflation data underscored the Fed’s dovish stance on interest rates.
Here is the current market situation from CNN Money | |
North and South American markets are mixed. The S&P 500 is higher by 0.25%, while the IPC is leading the Bovespa lower. They are down 0.34% and 0.03% respectively. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
Airbnb CEO says company will be ready for IPO later this year: CNBCAirbnb will be ready for an initial public offering later this year, the home-renting company’s chief executive officer told CNBC on Monday. | |
U.S. consumer spending roars back, but inflation tameU.S. consumer spending increased by the most in more than 9-1/2 years in March as households stepped up purchases of motor vehicles, but price pressures remained muted, with a key inflation measure posting its smallest annual gain in 14 months. | |
Wall St. gains as soft inflation data supports accommodative FedU.S. stocks edged higher on Monday, with the S&P 500 and the Nasdaq hitting record highs, as consumer spending rose in March and a benign inflation data underscored the Federal Reserve’s dovish stance on interest rates. | |
The obscure advisory committees at the heart of the U.S. drug pricing debateExpectations were high last year for three new migraine drugs hitting the market from Amgen Inc, Eli Lilly and Co and Teva Pharmaceutical Industries. | |
Anadarko to negotiate sale to Occidental ‘superior’ to Chevron dealAnadarko Petroleum Corp said on Monday it would negotiate with Occidental Petroleum Corp over its $38 billion cash-and-stock bid, after determining it could get a better deal than its agreed $33 billion sale to Chevron Corp. | |
SEC gets assets frozen over suspected illegal trading in AnadarkoThe U.S. Securities and Exchange Commission on Monday obtained an asset freeze in connection with suspected fraudulent trading in Anadarko Petroleum Corp before the oil company agreed to be acquired by rival Chevron Corp. | |
As trade talks reach endgame, U.S.-China ties could hinge on enforcementU.S. negotiators head to China on Tuesday to try to hammer out details to end the two countries’ trade war, including the shape of an enforcement mechanism, the success or failure of which could set the trajectory of ties for years to come. | |
Slowing inflation may lead Fed to cut interest rates – KudlowSlowing inflation may lead the Federal Reserve to cut interest rates, White House economic adviser Larry Kudlow said in a television interview on Monday. | |
Jaguar Land Rover planning to allow helpful car drivers to earn cryptocurrencyJaguar Land Rover, Britain’s largest auto manufacturer, said on Monday it is testing software that will allow drivers of its cars to earn the IOTA cryptocurrency as a reward for sharing data. | |
Mike Novogratz’s Crypto Firm Lost A Staggering $273 Million In 2018Mike Novogratz’s Galaxy Digital has finally released full-year results for 2018. And what started out as a nine-figure loss, according to financials released all the way back in Q3, the firm had already brooked a $134 million loss, combining realized and unrealized losses, by the end of Q1. By the end of Q3, that loss had widened slightly to $136 million. By the end of the year, total realized and unrealized losses for the firm founded by the former Goldman partner and Fortress fund manager, which both invests in cryptocurrencies, as well as blockchain-focused startups, had ballooned to $272.7 million, an ignominious start for the company’s first full year of operations. | |
DiGenova Destroys Media’s “Reckless” Promotion Of Trump Tower Meeting As CrimeLeading up to the Mueller report, one of the long-promised “gotchas” peddled by the anti-Trump media is that that Donald Trump Jr. would be indicted over a June 9, 2016 meeting in Trump Tower with Russian representatives who promised negative information on Hillary Clinton. | |
Two US Warships Sail Through Taiwan Strait In Dare To BeijingWith US-China trade talks set to resume this week amid what flashing red headlines, Larry Kudlow and Donald Trump’s twitter account remind us every day, if not hour, is a sense of “optimism” about an imminent deal, on Sunday the US navy reminded Beijing to stick to the script (one in which Trump supposedly comes off as a negotiating giant), when it two warships through the hotly contested Taiwan Strait as the Pentagon increases the frequency of movement through the strategic waterway despite vocal and often time angry opposition from China. While the voyage risks further raising tensions with China – at an especially sensitive time for trade negotiations – it will also be viewed by Taiwan as a sign of support from the Trump administration amid growing friction between Taipei and Beijing. According to Reuters, the two destroyers were the William P. Lawrence and Stethem. | |
Dallas Fed Unexpectedly Releases The Most Gushing Praise For Trump’s Economy YetWhile today’s Dallas Fed manufacturing activity index dipped to 2 from 6.9 in March, missing expectations of a rebound to 10, and the lowest print since January, among the generally downcast respondents comments was the following mini-essay written by a small business respondent in the “miscellaneous manufacturing” space, which revealed what may be the most gushing praise of the Trump economy yet. Presented below without further comment:
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February And March 2019 Headline Consumption Expenditures ImprovedWritten by Steven Hansen The headline data for February and March shows a decline in income and an increase in expenditures. | |
Here’s exactly where you should retire — based on what’s important to youTell MarketWatch what you want in retirement, and we’ll tell you where to live. | |
Retired people share the secrets of early retirementYour money, relationships and time will all change. | |
Uber’s IPO is even more dangerous for investors than Lyft’s has beenUber isn’t growing revenue as fast as management would like you to believe while it is burning through cash like a trust fund baby on a shopping spree. |
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