25Jul2019 Market Close: Wall Street Recedes From Record High As Earnings, Central Bank Guidance Disappoints, DOW Closes Down 129 Points, ECB Hints At Rate Cut

As Boeing targets October, FAA official says no timeline for 737 MAX

The U.S. Federal Aviation Administration distanced itself on Thursday from suggestions by Boeing that its grounded 737 MAX could resume flying passengers in October, saying regulators do not have a timeline for vetting safety upgrades.

U.S. to pay farmers $15-$150 per acre from August, part of $16-billion trade aid

The U.S. government will pay American farmers between $15 to $150 per acre starting from mid- to late-August, Department of Agriculture officials said on Thursday, as part of its $16-billion aid package to compensate those hurt by the trade war with China.

California, four automakers defy Trump, agree to tighten emissions rules

Four major automakers said on Thursday they have reached an agreement with California on fuel efficiency rules, bypassing a Trump administration effort to strip the state of the right to fight climate change by setting its own standards.

Wall Street recedes from record high following weak results, Draghi

Wall Street fell from record highs on Thursday following a flurry of downbeat quarterly results from Ford Motor and other companies and after European Central Bank chief Mario Draghi’s comments disappointed investors hoping for a more dovish stance on monetary policy.

Oil climbs on Iran tensions, U.S. inventory decline

Oil prices edged higher on Thursday supported by rising tensions between the West and Iran and a big decline in U.S. crude stockpiles, but gains were capped due to lingering worries about slowing economic growth that could reduce fuel demand.

Boeing 737 MAX groundings plague U.S. airlines, ‘frustrated’ Southwest exits Newark

Boeing Co’s top two U.S. customers warned on Thursday of an increasing financial toll from the prolonged grounding of the 737 MAX jet, which prompted a “frustated” Southwest Airlines Co to announce it was ending operations at Newark Liberty International airport.

Equities drop, bond yields rise on ECB statement, mixed earnings

U.S. stocks backed off record highs and bond yields rose following mixed earnings and rosier-than-expected economic sentiment from the European Central Bank’s governor.

Boeing posts biggest loss on 737 MAX, may have to halt production of jet

Boeing Co posted its largest-ever quarterly loss on Wednesday due to the spiraling cost of resolving issues with its 737 MAX, warning it may have to shut production of the grounded jet completely if it runs into new hurdles with global regulators getting its best-selling aircraft back in the air.

Eliquis, Orencia sales propel Bristol-Myers to strong second quarter

Bristol-Myers Squibb Co , which is set to buy biotechnology company Celgene Corp for $74 billion, posted better-than-expected second-quarter profit on Thursday on strong sales of blood thinner Eliquis and rheumatoid arthritis treatment Orencia.

Tesla Tumbles, Boeing Battered, Stocks & Bonds Dump On Draghi Disappointment

Steve Ballmer mimics the excitement in the room ahead of Draghi’s press conference…

But the euro shows the post-Draghi disappointment nothing-burger…

Dems Turning Trump Into ‘Folk Hero’ By Failing To Impeach: NYT Columnist

According to New York Times columnist Charles Blow, the Democrats’ failure to impeach President Trump is turning him into a “folk hero.”

“Credit Card Splurge” Suggests Imminent Storm

Authored by Sven Henrich via NorthmanTrader.com,

You’d think that the drop in yields and a Fed about to cut rates would’ve brought about some relief to credit card bills. No Sir.

And you might think that the highest interest rates on credit cards ever would deter consumers from loading up on additional credit card debt. Oh no.

Beyond Volkswagen: BYND Shorts Crucified As Borrow Fee Hit 144%

Two months ago, in mid-May, we warned intrepid contrarians against shorting the latest cult “story” stock, Beyond Meat – which on May 1 completed the strongest IPO since the 2008 financial crisis – for two reasons: some 43% of Beyond Meat’s float was sold short, making BYND one of the top 20 most-shorted U.S. companies, and the borrow fee was approaching triple digits, meaning one would have to double their money, i.e. the stock would have to drop to zero, in a year just to break even.

Well, since then what we back then dubbed a “beyond Volkswagen short squeeze” has only gotten worse, and today the stocks has exploded higher once again, rising 8%, and is now an absolutely mind-blowing 775% higher from its IPO offering price of $25:

Is India as fiscally fit as it is shown to be? Probably not

Is India as fiscally fit as it is shown to be? Probably notCAG has said fiscal deficit number, around 3.5% of GDP in 2017-18, was gross understatement of the actuals.

Ramdev finally gets control of Ruchi Soya

Ramdev finally gets control of Ruchi SoyaNCLT on Thursday approved Patanjali’s revised Rs 4,350-crore bid to take over the edible oil maker.

Garg’s exit puts digital payment cos in a fix

Garg’s exit puts digital payment cos in a fixWith Garg on his way out, discussions on the MDR proposal in the budget may need to be restarted.

Amazon’s run of record earnings comes to an end, and the stock is falling

Amazon.com Inc.’s run of record-high earnings came to an end Thursday, and shares fell in late trading despite strong sales growth.

Trump Today: Trump prods Republicans to back budget deal as he hails worker-pledge anniversary

President Donald Trump on Thursday urged House Republicans to back a two-year budget and debt-limit deal, as he celebrated the one-year anniversary of a program intended to spur career opportunities.

Medill News Service: Self-defense in cyberspace would put businesses at risk, experts say

A House bill giving businesses the power to counter cyberattacks outside their own computer networks is fraught with risks to U.S. companies and critical infrastructure, and won’t stop criminals and nations from making attacks, experts warn.