16Oct2017 Pre-Market Commentary: Wall Street Futures Inch Up As Investors Await Another Round Of Third Quarter Company Earnings, Crude Prices And The US Dollar Inch Upwards

Here is the current market situation from CNN Money

European markets are higher today with shares in Germany leading the region. The DAX is up 0.20% while France’s CAC 40 is up 0.19% and London’s FTSE 100 is up 0.09%.

China data boosts world stocks and commodities, oil jumps

LONDON (Reuters) – World stocks and commodities rose on Monday, boosted by upbeat Chinese data, while U.S. oil futures jumped to a near six-month high as an escalation in fighting between the Iraqi government and Kurdish forces threatened supply.

As the quartet breaks up, central banking leadership flux looms

WASHINGTON (Reuters) – The leaders of the world’s top central banks who risked trillions of dollars and their reputations to rescue the global economy are now set to walk off stage at a time when the lingering effects of the crisis, evolving technology and a combustible political landscape will challenge their successors.

Fake paperwork, poor parts challenge China’s aerospace boom

SHANGHAI (Reuters) – Chinese suppliers to U.S. flight control systems maker Moog sold it poorly made parts, faked paperwork and outsourced work to a factory not approved by the company, according to an internal report by U.S. aviation regulators.

Exclusive: T-Mobile, Sprint plan merger without selling assets

(Reuters) – T-Mobile U.S. Inc and Sprint Corp plan to announce a merger agreement without any immediate asset sales, as they seek to preserve as much of their spectrum holdings and cost synergies as they can before regulators ask for concessions, according to people familiar with the matter.

U.S. stock futures inch up as earnings head for higher gear

(Reuters) – U.S. stock index futures pointed to a slightly positive start for Wall Street on Monday as investors pondered a solid initial round of third quarter company earnings and awaited a further flood of results this week.

Viacom, Charter agree to extend renewal deadline: source

(Reuters) – Viacom Inc and Charter Communications Inc agreed on a short-term extension of their renewal deadline, a source familiar with the matter said, as the companies aim to avoid the immediate blackout of Viacom networks.

BlackBerry shares down after another top exec leaves

(Reuters) – BlackBerry’s U.S.-listed shares fell almost 4 percent to $11.12 on Monday after a second senior executive from its licensing unit quit this month.

Toyota to test self-driving, talking cars by about 2020

TOKYO (Reuters) – Toyota Motor Corp on Monday said it would begin testing self-driving electric cars around 2020, which will use artificial intelligence (AI) to engage with drivers, as the company competes with tech firms to develop new vehicles.

Daimler starts reorganisation that could lead to break up

BERLIN (Reuters) – Daimler has started the process of creating separate legal entities for its Mercedes Benz cars and Daimler Trucks divisions, a move that has fuelled speculation of an eventual break up of the German automaker.

Theresa May Heads To Brussels For Surprise Brexit Dinner: “We’ve Almost Run Out Of Things To Talk About”

After her disastrous speech at the Conservative party conference, Theresa May is in desperate need of some good news as she puts her reputation on the line by unexpectedly heading to Brussels and personally intervening in the stalled Brexit talks. News of the meeting came as a surprise to some in Westminster, although 10 Downing Street insisted that tonight’s dinner with EU leaders “had been in the diary for weeks.”

Unfortunately for Mrs May, the precedent for Brexit dinners is neither successful nor enjoyable. As the Telegraph reports, last time Mrs May had dinner with EU Commission President, Jean Claude Juncker, in April, Mr Juncker “was reported to have launched a scathing attack on Mrs May…saying that Brexit ‘cannot be a success’.

Maybe he’d had too many cognacs again.

Yesterday, in an effort to tip the odds slightly more in her favour, May phoned the only person that Mr Juncker might take instructions from, Angela Merkel. Downing Street claimed that the phone conversation focused on Iran (right), but acknowledged that they agreed on the importance of “constructive progress” in the Brexit negotiations. According to the FT “Theresa May has personally urged Angela Merkel to end the Brexit stand-off at this week’s EU summit in Brussels after Berlin and Paris led moves to toughen the EU’s negotiating line in the next phase of talks.”

Inexplicably, the Germans and the French were concerned that a draft statement for this …

Frontrunning: October 16

Iraq forces seize Kirkuk outskirts in advance on Kurdish-held territory (Reuters)

Iraq-Kurd Fighting Threatens to Undo Anti-ISIS Coalition (WSJ)

Oil rises as fighting escalates in Iraq’s oil-rich Kirkuk (Reuters)

Madrid moves towards direct rule over Catalonia (Reuters)

Spain Signals It Will Suspend Catalan Self-Rule This Week (BBG)

Central Bankers Cling to Stimulus Amid Weak Inflation (WSJ)

White House pitches corporate tax cut as win for workers (Reuters)

White House Says Corporate Tax Cut Would Boost Wages $4,000 (BBG)

GOP Tax Plan Would Make Mortgage Break Irrelevant (WSJ)

Congress to Tackle Health Care Again (WSJ)
…

NBC’s Al Michaels Apologizes After Comparing NY Giants To Harvey Weinstein

Longtime NBC sports broadcaster Al Michaels outraged feminists and SJWs across America last night when he joked that the New York Giants were “coming off a worse week than Harvey Weinstein” during the Giants-Broncos game last night.

but seriously folks, pic.twitter.com/WqpmCLjOAT

— Mike Tunison (@xmasape) October 16, 2017

“Let’s face it the Giants are coming off a worse week than Harvey Weinstein and they’re up 14 points.” The comment was a reference to the fact that the Giants lost a handful of players last week to suspensions and injuries.

Michaels’ co-announcer, Chris Collinsworth, responded nervously, saying “only my L.A. guy comes up with that one,” said Collinsworth, to which Michaels responded: “All you have to do is read the papers — any paper.”

Four Giants’ starting receivers got injured last week during a game with the Chargers, including season-ending injuries. Odell Beckham Jr., Brandon Marshall and Dwayne Harris all are reportedly out for the whole season, according to Yahoo Sports.

The New York team also suspended indefinitely Dominique Rodgers-Cromartie for “violation of team rules” following a meeting with the coach over an incident where he walked out of team’s facility during a meeting.

People were quick to criticize Michaels for his “lapse in judgment.”

Al Michaels is probably the best play-by-play guy in h …

“My House Shook”: Oil Rig Explosion Near New Orleans Leaves 7 Injured, 1 Missing

An oil rig in Lake Pontchartrain, La. exploded Sunday night, leaving seven people injured – five of them critically – with one person still missing, NBC News reported.

Reports of fire and smoke being seen from Lake Pontchartrain first came in around 8:20 ET Sunday night, according to Jefferson Parish spokesman Antwan Harris. The explosion took place about a mile-and-a-half from the shore of the lake, which is located north of New Orleans. Flames could be seen from the area and the air smelled of burning rubber. The cause of the explosion remained unknown early Monday, and authorities said it was too soon to tell whether any oil had spilled. Ben Zahn, the mayor of nearby Kenner, said no homes were threatened.

First responders from St. Charles Parish, Jefferson Parish, Kenner, the US Coast Guard, East Jefferson General Hospital EMS and Louisiana Wildlife and Fisheries responded to the explosion. “Several people have been rescued from the active fire on the rig,” Harris said.

“Authorities on the scene report that cleaning chemicals ignited on the surface of the oil rig platform,” the City of Kenner Government posted on its Facebook page Sunday evening.

Five of the injured were taken to University Medical Center with “blast type injuries and burns” and are in critical condition. The other two are in stable condition at East Jefferson General Hospital. S …

Drugstore Favorites May Be Catching the Common Consumer Cold

Customers may be starting to shop for over-the-counter drugs in the same way they shop for groceries—with a keener eye for cost and content—and this could be painful for consumer-health companies.

China’s Greatest Challenge

The country’s financial system has fueled its debt-driven growth and reforming it may be President Xi Jinping’s toughest task.

Why Beijing Won’t Just Let the Yuan Go

China has always been a pressure cooker—too many people, not enough land, and a long tradition of authoritarian governments with a flexible approach to the rule of law that depends on who you are and who you know.

September 2017 Import Sea Containers Continue To Suggest Improving Economy, Exports Not So Much

Written by Steven Hansen

The September month-over-month import container counts are still suggesting an improving USA economy, but exports suggest a sluggish global economy.

The Ratings Game: Hostess shares sink after news that ‘driving force’ CEO is retiring

Hostess’ Chief Executive Bill Toler unexpectedly announced his retirement, prompting a stock decline and a downgrade, but most analysts are upbeat about the company’s prospects

Earnings Watch: Netflix earnings: Why higher subscription prices lead to more shows like ‘Stranger Things’

In the months since Netflix Inc. last opened its books to investors, the streaming and media company has continued to reach deep into its pockets to invest in furthering its content aspirations.

Spark Therapeutics’ promising gene therapy for vision loss could cost $1 million

The development could be a major, if costly, milestone for both the disease and the field of gene therapy.