Written by Gary
A gauge of global equity markets climbed have climbed higher today (SPY +0.5%), encouraged by signs of a thaw in the trade war between the US and China.
Here is the current market situation from CNN Money | |
 | North and South American markets are mixed today. The Bovespa is up 0.45% while the S&P 500 gains 0.44%. The IPC is off 0.16%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| Trump reverses course, seeks negative rates from Fed ‘boneheads’U.S. President Donald Trump on Wednesday called on the “boneheads” at the Federal Reserve to push interest rates down into negative territory, a move reluctantly used by other world central banks to battle weak economic growth that risks punishing savers and banks’ earnings in the process. |
| Explainer: How does negative rate policy work?U.S. President Donald Trump has suggested that the U.S. Federal Reserve drive interest rates into negative territory. He says his motivation was to refinance the U.S. government’s $22 trillion in outstanding debt and lengthen the amount of time over which it is repaid. [nL2N26208B] |
| Hong Kong Exchange makes surprise $39 billion offer for Britain’s LSEHong Kong Exchanges and Clearing made a surprise $39 billion takeover approach for the London Stock Exchange on Wednesday, aiming to sabotage the LSE’s acquisition of data company Refinitiv and create a global trading powerhouse. |
| Stocks climb on trade hopes, bond yields rise ahead of ECBA gauge of global equity markets climbed on Wednesday, encouraged by signs of a thaw in the trade war between the U.S. and China, while bond yields rose as investors remained uncertain about how aggressive the European Central Bank will be in providing stimulus at its Thursday meeting. |
| UK finance ministry to scrutinize Hong Kong Exchange $39 billion bid for LSEBritain’s finance ministry has said it will scrutinize Hong Kong Exchanges and Clearing’s attempted takeover of the London Stock Exchange, after the Asian bourse made a surprise $39 billion approach on Wednesday. |
| Saudi Aramco gives nine banks top roles on world’s biggest IPO: sourcesSaudi Aramco has hired nine banks as joint global coordinators to lead its planned initial public offering (IPO), slated to be the world’s largest, two sources familiar with the matter told Reuters on Wednesday. |
| Mexico sees diminished threat of U.S. tariffs after effort to curb migrationMexican President Andres Manuel Lopez Obrador said on Wednesday the U.S. threat of tariffs on Mexican goods has lessened, after his top envoy met U.S. President Donald Trump and other Washington officials to assess progress on reducing migration. |
| Switzerland warns Facebook’s Libra it will face extra scrutinyFacebook’s Libra cryptocurrency suffered another setback on Wednesday when Switzerland said the proposed payments system could face strict rules that typically apply to banks, on top of tough anti-money laundering laws. |
| As trade war pinches China, it opens doors wide for foreign moneyAs the Sino-U.S. trade war drags on, Beijing is throwing its door wide open to foreign investors as concerns grow over declining exports, capital flight and persistent yuan weakness. |
| New York Area Fire Commissioners Demand New 9/11 InvestigationNew York Area Fire Commissioners Demand New 9/11 Investigation Authored by John Vibes via TruthTheory.com, September 11, 2001, was nearly 20 years ago, and after all this time, so many questions still remain about what exactly happened. It is not socially acceptable to question the official explanation that was given for the collapse of the towers and the other events of that day, but now these questions are being taken more seriously. |
| Oil Tumbles On Report Trump Discussed Easing Iran Sanctions, Leading To Bolton Eruption And Subsequent TerminationOil Tumbles On Report Trump Discussed Easing Iran Sanctions, Leading To Bolton Eruption And Subsequent Termination WTI crude was sliding after mixed inventory data, but accelerated the losses, breaking below yesterday’s lows, after headlines suggesting Bolton was fired after disagreeing with Trump’s desire to ease Iran sanctions to get a meeting with Rouhani. As Bloomberg reports, President Trump discussed easing sanctions on Iran to help secure a meeting with Iranian President Hassan Rouhani later this month, prompting now former National Security Advisor John Bolton to erupt, and “argue forcefully” against such a step, according to the report. More notably, there already was support for de-escalation of sanctions with Iran, because during the Monday Oval Office meeting, Treasury Secretary Steven Mnuchin voiced his support for the move as a way to restart negotiations with Iran, the Bloomberg sources said. At this point, Bolton exploded.
The reaction in crude (more supply) was instant… |
| It’s Not A Mystery Why America’s Biggest Cities Are Losing PopulationIt’s Not A Mystery Why America’s Biggest Cities Are Losing Population Authored by Scott Shackford via Reason.com, Chicago, Los Angeles, and New York City all have some easily identifiable management problems… |
| Beijing Has “Proof” Of Foreign Intervention In HK Unrest, Summons German AmbassadorBeijing Has “Proof” Of Foreign Intervention In HK Unrest, Summons German Ambassador China has summoned Germany’s Ambassador in Beijing to its foreign ministry, saying it has “sufficient proof” that foreign forces intervened in Hong Kong, Reuters reports. This comes just after German foreign minister Heiko Maas held a controversial meeting and photo op with pro-democracy activist Joshua Wong in Berlin on Monday. Wong has emerged as among the most visible virulently anti-Beijing representatives of popular protests and unrest which have gripped Hong Kong streets for months over the anti-extradition bill. |
| No country for new cars: The millennial hand in CarmageddonNo country for new cars: The millennial hand in CarmageddonDoes FM’s comment have substance, or was it off the mark? Sales numbers of a auto vertical holds the clue. |
| Flying abroad? Get ready to pay a bombFlying abroad? Get ready to pay a bomb œFlight fares to the UK have been up by 30%, and the US by 16%,” an Air India official said. |
| The data that will make India Inc very happyThe data that will make India Inc very happyNearly 55% of new companies formed in the country perish or become dormant, a study has found. |
| July 2018 Headline Wholesale Sales Improves?Written by Steven Hansen The headlines say wholesale sales improved month-over-month with inventory levels very elevated. Our analysis shows a deceleration of the rate of growth for the rolling averages.
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| The Margin: Teen romance is overrated, and single teenagers may be better off ” says scienceA new study suggests that teens who stay single are happier than those who couple up. |
| NewsWatch: Stocks edge higher as Dow aims for 6th straight gainStock-index futures edge higher Wednesday, as global equities rose amid optimism over trade and expectations for additional central-bank stimulus. |
| Upgrade: The No. 1 university in America now comes with a total sticker price of over $293,000Princeton, Harvard, Columbia, MIT, Yale are among the top schools in U.S. News’ new ranking. |
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