Written by Gary
US stock markets set to open lower (SPY -0.6%). US-China trade, Hong Kong protest tensions rise as investors look for safe havens.
Here is the current market situation from CNN Money | |
European markets are lower today with shares in London off the most. The FTSE 100 is down 0.43% while France’s CAC 40 is off 0.34% and Germany’s DAX is lower by 0.15%. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
Nike aims sneaker subscriber scheme at $10 billion U.S. kids marketNike Inc will launch a new subscription service for kids sneakers this week that seeks to woo parents with an offer of fewer nightmarish trips to the shoe store in exchange for a regular fee and consistent brand loyalty. | |
Saudi Aramco aims to buy Reliance stake, reports 12% earnings slideSaudi Aramco is planning a blockbuster investment in Reliance Industries , the Indian firm announced on Monday, as the energy giant diversifies its business, where weaker oil prices pared its first-half profit by 12%. State-run Aramco disclosed its closely guarded financials for the first time earlier this year, revealing its 2018 earnings in order to obtain a public rating and start issuing international bonds. The world’s top oil producer plans to launch an | |
AMS sparks bidding war for Osram, shines spotlight on auto businessShares in Osram jumped after Austrian sensor maker AMS triggered a bidding war for the German lighting group, saying it was ready to trump Bain and Carlyle with a cash offer valuing the company at 4.3 billion euros ($4.8 billion). | |
Stock futures fall on trade war, global growth worriesU.S. stock index futures fell on Monday, as investors shunned risky bets on fears that a drawn-out trade war between the United States and China would significantly hamper global growth. | |
Exclusive: PSA, Dongfeng to drop two China auto plants, halve workforce – documentPeugeot maker PSA Group and partner Dongfeng Group have agreed to cut thousands of jobs in China and drop two of their four shared assembly plants, according to a document seen by Reuters, in a last-ditch bid to curb mounting losses as the world’s largest auto market loses steam. | |
Oil falls on fears of a global economic downturnOil prices fell on Monday amid worries about a global economic slowdown and the ongoing U.S.-China trade war, which has reduced demand for commodities such as oil. | |
Yen and bond bulls charge on as share markets falterYen and bond bulls charged on Monday while stocks struggled again, amid ongoing worries that a prolonged U.S.-China trade war and damaging Brexit could tip top economies into recession. | |
ABB shares jump as new CEO raises turnaround hopesABB shares jumped more than 4% on Monday as investors welcomed news the Swiss engineering group had poached Bjorn Rosengren from Swedish mining equipment firm Sandvik to be its next chief executive. | |
New ABB CEO is committed to at least five years at companyNew ABB Chief Executive Bjorn Rosengren is committed to at least five years with the Swiss engineering group, Chairman Peter Voser said on Monday. | |
7 Unanswered Questions About Epstein’s Death That The Mainstream Media Is Not Talking AboutAuthored by Michael Snyder via The End of The American Dream blog, Did Jeffrey Epstein commit suicide or was he murdered? This is a question that is being debated by millions of Americans right now, and without a doubt this is the biggest story of this news cycle. Unfortunately, the mainstream media is already dropping the ball. Instead of going wherever the evidence leads them, there already seems to be a tremendous effort to marginalize any explanations for his death other than “suicide”. And it may turn out that “suicide” is where the evidence takes us, but while things are unclear we should not be afraid to ask the hard questions. | |
Global Times Shows Dramatic Video Of Chinese Army Preparing For Hong Kong InvasionThe Hong Kong/China feud is going from bad to worse on Monday, when as reported earlier, the Hong Kong airport authority advised all passengers to leave the terminal buildings as soon as possible in an unprecedented disruption after thousands of anti-government protesters occupied the airport terminal building.
However, what confirmed that as Beijing has been warning for the past week, Hong Kong’s insubordination will no longer be tolerated by Beijing, was a video – complete with dramatic World War III style music – published by the state-owned tabloid Global Times, which showed “The People’s Armed Police have been assembling in Shenzhen, a city bordering Hong Kong, in advance of apparent large-scale exercises.” Global Times’ prolific – and trolling – Editor in Chief, Hu Xijin naturally chimed in on twitter, pointing out that Hong Kong Airport canceled all remaining flights Mon afternoon due to illegal assembly and noting that while the “Central government still exercises restraints, and respects HK’s high-degree of autonomy under one country, t … | |
US Futures, European Stocks Tumble As Hong Kong Protests Boil OverThe new week in global stock markets started off well enough, largely thanks to China whose central bank weakened the yuan’s daily fixing for an eighth day, down to 7.0211, however once again stronger than the 20-trader Bloomberg consensus estimate of 7.029%, which in turn sent the USDCNH sliding from 7.108 to below 7.09, and helped prop up Chinese stocks which closed up 1.45%. However, any vestige of optimism quickly fizzled around 4am EDT when the news hit that all flights out of Hong Kong were cancelled on Monday in an unprecedented disruption after thousands of anti-government protesters occupied the airport terminal building. The Airport Authority blamed the cancellations from 4pm local time on the protests which had “seriously disrupted” operations, with masses of demonstrators preventing passengers from checking in or clearing airport security. | |
Hong Kong On The Edge: Chinese Troops Gather In Shenzen; 100s Of Flights Cancelled Over Protester “Terrorism”Protesters flooded Hong Kong’s airport, one of the busiest in the world, on Monday, forcing authorities to cancel more than 100 flights as demonstrators expressed their anger over the violent police response to protests the night before. | |
Rate cut’s fine, but don’t expect your EMIs to come down sharplyRate cut’s fine, but don’t expect your EMIs to come down sharplyHigher than normal rate cut is a signal for banks to cut lending rates aggressively before festive season. | |
Netflix and Big Bazaar should fear AmbaniNetflix and Big Bazaar should fear AmbaniMukesh Ambani’s New Commerce platform has the potential to tap millions more of Indian consumers. | |
Look past ‘who got what’ in Budget: ModiLook past ‘who got what’ in Budget: ModiThe government’s vision for the next five years is to have investment-led growth in the country. | |
Cannabis Watch: CannTrust stock slides 25% premarket after regulator says another facility is breaking rulesTroubled Canadian cannabis company CannTrust Holdings Inc. said Monday it has received a report from Health Canada informing it that its manufacturing facility in Vaughan, Ontario is non-compliant with certain regulations, sending its battered stock down 25% in premarket trade. | |
Market Snapshot: Stock futures lower on U.S.-China trade worries, Hong Kong unrestStock-index futures point to a lower start for Wall Street, building on the previous week’s decline on lingering worries over U.S.-China trade tensions and continued unrest in Hong Kong. | |
London Markets: Hong Kong protests hit London marketsInvestors recoiled from U.K.-listed banks with business in the former British territory as protesters shut down the airport |
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