03Nov2017 Pre-Market Commentary: Wall Street To Open Fractionally Higher, DOW Is Expected To Set Another Record High, WTI Crude Steady In The High 54 Handle

Here is the current market situation from CNN Money

European markets are mixed. The DAX is higher by 0.17%, while the CAC 40 is leading the FTSE 100 lower. They are down 0.08% and 0.03% respectively.

Apple CEO Cook breathes new life into old iPhones

(Reuters) – By delivering solid financial results that beat Wall Street’s expectations for both revenues and profits on Thursday, Apple Inc’s CEO Tim Cook put to rest concerns that the company’s flagship device, the iPhone X, wouldn’t be ready in time for the holiday shopping season.

U.S. job growth seen surging after storm-related disruptions

WASHINGTON (Reuters) – U.S. job growth likely rebounded sharply in October after hurricane-related disruptions depressed employment in September, in a move that could seal the case for an interest rate increase from the Federal Reserve in December even as wage growth probably slowed.

Trump taps Fed centrist Powell to lead U.S. central bank

WASHINGTON (Reuters) – President Donald Trump on Thursday tapped Fed Governor Jerome Powell to become head of the U.S. central bank, breaking with precedent by denying Janet Yellen a second term but signaling a continuation of her cautious monetary policies.

World stocks take breather, dollar inches up ahead of payrolls

LONDON (Reuters) – World shares took a breather and the dollar crept up on Friday, as investors turned their attention to monthly U.S. jobs data after welcoming the appointment of a centrist to the helm of the country’s central bank, the Federal Reserve.

T-Mobile and Sprint work to save merger talks: WSJ

FRANKFURT (Reuters) – T-Mobile US and Sprint are working to salvage their $74 billion merger and could reach a deal within weeks, the Wall Street Journal reported, citing people familiar with the matter.

Singapore police examine Goldman’s role in 1MDB deals: Bloomberg

(Reuters) – Singaporean prosecutors and police are looking at Goldman Sachs Group’s relationship with scandal-hit Malaysian state investment fund 1MDB, Bloomberg reported, citing people familiar with the matter.

Futures rise with Apple ahead of jobs data

(Reuters) – Apple’s upbeat results and strong initial demand for the new iPhone X put Wall Street on track for a strong opening on Friday, while investors watched out for October jobs data for clues on the strength of the labor market.

Central bankers on the move, but where’s the inflation?

LONDON (Reuters) – Now the Bank of England has raised interest rates for the first time in a decade, it is beyond doubt major central banks in industrialized economies are eager to shift away from ultra-easy policy.

GSK’s R&D head to leave for top UK government job: source

LONDON (Reuters) – GlaxoSmithKline’s research and development head Patrick Vallance is set to leave the drugmaker to become the British government’s new chief scientific adviser, a person familiar with the matter said on Friday.

Gold Price Reacts as Central Banks Start Major Change

Gold Price Reacts as Central Banks Start Major Change

– Bank of England raised interest rates for the first time in ten years
– President Trump announces Jerome Powell as his choice to lead the U.S. Federal Reserve
– Most investors outside the US Dollar and Euro see gold prices climb after busy week of central bank news
– Inflation now at five-year high of 3%
– Inflation, low-interest rate, debt crises and bail-ins still threaten savers and pensioners

This week has been a significant week for central banks. The Bank of England raised interest rates for the first time in ten years, the Federal Reserve indicated that a December rate hike may happen and President Trump named Powell as his choice for leader of the Federal Reserve.

Obama Admin Lied; New Memos Reveal Uranium One Exports To “Europe And Asia” Via Canada

As the mainstream media continues to obsess over $100,000 worth Facebook ads allegedly purchased by Russian spies in 2016 seeking to throw the presidential election, behind the scenes, far removed from the sight of CNN and MSNBC, the Uranium One scandal, in which the Obama administration approved a deal that handed a Russian-controlled corporation 20% of America’s uranium reserves despite the existence of an FBI investigation into ongoing illegal bribery, extortion and money laundering schemes, is slowly spiraling out of control…despite CNN’s continued ignorance of the topic.

By now we’re sure that most of our readers are well aware that Obama’s approval of the Uranium One deal seemingly landed the Clinton Foundation some $145 million in donations and a $500,000 speaking gig for former President Bill Clinton from a very thankful Russian bank…if not, here are a couple of recent posts on the topic as a recap:

FBI Uncovered Russian Bribery Plot Before Obama Approved Uranium One Deal, Netting Clintons Millions

Emails Reveal Bill Clinton Met With Vladimir Putin Just Before Uranium One Deal

FBI Informant “Threatened” After Offering Details Linking Clinton Foundation To Russian Bribery Case

That said, one thing that you probably don’t know yet, primarily because of the Obama administration’s proactive attempt conceal such information, is that despite repeated assurances fr …

Islamic State Collapses As Syrian Army Fully Liberates Deir Ezzor City

After two months of intense fighting, Syria’s last major ISIS stronghold of Deir Ezzor city has been fully liberated by the Syrian Arab Army (SAA), and this comes just as the terror group is losing its final stronghold across the border in Iraq as the Iraqi army and paramilitary units liberate the city of al-Qaem.

The final fledgling terror resistance ended overnight as the SAA’s elite Tiger Forces and the Republican Guard yesterday liberated the city’s Jubaliyah neighborhood, the central park area, the school of law and education area and the southern part of the sprawling Hamidiyah neighborhood. The week witnessed rapid army victory as it pushed deep into the last remnants of ISIS presence in the city, with the group losing 40% of the area that it had been controlling in the northern part of the city in a matter of a mere few days.

Backed by Russian airstrikes, the Syrian army’s victory in Deir Ezzor has even anti-Assad pundits expressing shock and surprise that government forces could come back against such impossible odds. For much of the past year the city’s key military airport was besieged by ISIS while over 5000 civilians along with Syrian army and Hezbollah fighters were trapped inside the base with no food or supplies. According to various reports from corres …

Frontrunning: November 3

House GOP Readies for Tax-Bill Battle (WSJ)

GOP’s United Front on Tax Cuts Masks Divisions (BBG)

Republican tax plan a blow to Democratic states, officials say (Reuters)

As Trump Embarks on Asia Tour, North Korea Looms Large (WSJ)

Apple Store Lines Return as iPhone X Debuts (WSJ)

There’s Some Good News About 401(k)s in the Tax Bill (BBG)

iPhone Xs Are Already Being Resold in Hong Kong (BBG)

CNN to Launch Subscriptions for Digital News (WSJ)

Mr. Ordinary: Who Is Jerome Powell, Trump’s Fed Pick? (WSJ)

U.S. bomber drills aggravate North Korea ahead of Trump’s Asia visit (Reuters)

Bitcoin Is the ‘Very Definition’ of a Bubble, Credit Suisse CEO Says ( …

Apple Calls Up Its Supporting Cast

Mac, iPad and services deliver strong sales while the iPhone cycle gets stretched.

The Tax Plan’s Pleasant Surprises for Investors

The Republican tax plan contains most of what prompted investors to bid the stock market up to a record in recent months with only a few twists, but the economic boost is less than it could have been.

AIG Needs a Refresher in Insurance Basics

Brian Duperreault’s turnaround job at American International Group will be harder and take longer than it first seemed.

FA Center: Understand the return you need — not the one you want — to stay on course

How can investors set the right course to achieve their financial goals? And how can they measure progress?

Economic Report: Generation X recovery boosts homeownership rate

Homeownership increased, led by Americans aged 35-44, signs that we are moving past the housing crisis of a decade ago.

The 2007 iPhone will cost you 15 times more than the iPhone X

As Apple releases the 10th-anniversary iPhone, some people are still holding onto the original version.