Written by Gary
US equities market opened higher (SPY +0.8%), putting major indexes on track to recover from their biggest one-day drop in months as earnings-driven gains for Cisco and Wal-Mart set the pace.
Here is the current market situation from CNN Money | |
 | North and South American markets are broadly higher today with shares in Brazil leading the region. The Bovespa is up 1.75% while U.S.’s S&P 500 is up 0.74% and Mexico’s IPC is up 0.59%. |
Traders Corner – Health of the Market
Looking at the last three columns (below), the first one (Actual), is what was reported this morning. The second column (Forecast) is what analysts had forecast and the third column is the previous report. Full calendar HERE.
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| Wall Street recovers on strong Wal-Mart, Cisco earnings(Reuters) – U.S. stock indexes recovered from two days of losses on Thursday after technology stocks got a boost from Cisco results and Wal-Mart soared to a record high. |
| Wal-Mart third-quarter sales boosted by hurricanes, online; shares jumpCHICAGO (Reuters) – Wal-Mart Stores Inc , the world’s largest retailer, reported better-than-expected quarterly sales at established U.S. stores on Thursday, boosted by hurricane-related purchases and soaring online sales, sending its shares up 4.4 percent. |
| Emerson sweetens bid for Rockwell Automation to $29 billion(Reuters) – Emerson Electric Co boosted its offer to buy Rockwell Automation Inc to about $29 billion, after the smaller rival rebuffed a $27.6 billion bid last month saying it undervalued the company. |
| Tesla to unveil electric big-rig truck in midst of Model 3 factory ‘hell’SAN FRANCISCO (Reuters) – Tesla Inc on Thursday will unveil a prototype electric big-rig truck, which may be able to drive itself, throwing the company into a new market even as it struggles to roll out an affordable sedan which is central to the company’s future. |
| Hong Kong IPO surge challenges New York in battle for China listingsHONG KONG (Reuters) – It’s not often Hong Kong can boast hotter initial public offerings than New York, but some recent deals and a potential pipeline of big Chinese tech floats suggest a shift in the balance between the two fundraising rivals. |
| Rights groups pressure IBM to renounce interest in Trump’s ‘extreme vetting’WASHINGTON (Reuters) – A coalition of rights groups launched an online petition on Thursday urging IBM Corp to renounce a Trump administration proposal to use technology to identify people for visa denial and deportation from the United States. |
| Viacom expects affiliate sales to drop in 2018; shares sink(Reuters) – Viacom Inc , owner of MTV, Comedy Central and Paramount, said Thursday it expects high single-digit declines in revenue from U.S. cable TV operators and online distributors in the first half of 2018, sending its shares down 8 percent. |
| Siemens says to cut about 6,900 jobsFRANKFURT (Reuters) – Siemens plans to cut about 6,900 job in its turbines division, including related services and in large drives, the Munich-based industrial group said on Thursday. |
| T-Mobile US to propose significant share buybackBARCELONA (Reuters) – T-Mobile US will propose a “significant” share buyback that could start in December, CFO Braxton Carter said on Thursday, a sign that the third biggest carrier in the United States is confident in its outlook after the collapse of a merger with Sprint Corp. |
| Amazon Poses A Serious Threat To Freedom And Free MarketsAuthored by Mike Krieger via Liberty Blitzkrieg blog, It wasn’t until earlier this year that I became really concerned about Amazon.
Sure, I had warned people previously of the dangers of an oligarch like Jeff Bezos owning a major national newspaper like The Washington Post, and I’d also highlighted Amazon’s creepy $600 million contract with the CIA, but I didn’t truly grasp the bigger picture until recently. It seems I’d been too focused on the financial system and other predatory industries to see the gigantic threat metastasizing in the room. If that happened to me, I’m sure many of you aren’t paying close enough attention to the risks to freedom and free markets posed by Amazon and its oligarch CEO. That’s why I decided to write this post. This piece will be presented in two parts.
|
| WeLCoMe To THe SWaMP…
|
| Goldman Reveals Its Top Trade Recommendations For 2018It’s that time of the year again when with just a few weeks left in the year, Goldman unveils its top trade recommendations for the year ahead. And while Goldman’s Top trades for 2016 was an abysmal disaster, with the bank getting stopped out with a loss on virtually all trade recos within weeks after the infamous China crash in early 2016, its 2017 “top trade” recos did far better. Which brings us to Thursday morning, when Goldman presented the first seven of its recommended Top Trades for 2018 which “represent some of the highest conviction market expressions of our economic outlook.” Without further ado, here they are: Top Trade #1: Position for more Fed hikes and a rebuild of term premium by shorting 10-year US Treasuries. Top Trade #2: Go long EUR/JPY for continued rotation around a flat Dollar. Top Trade #3: Go long the EM growth cycle via the MSCI EM stock market index. Top Trade #4: Go long inflation risk premium in the Euro area via EUR 5-year 5-year forward inflation. Top Trade #5: Position for ‘early vs. late’ cycle in EM vs the US by going long the EMBI Global Index against short the US High Yield iBoxx Index. Top Trade #6: Own diversifed Asian growth, and the hedge interest rate risk via FX relative value (Long INR, IDR, KRW vs. short SGD and JPY). Top Trade #7: Go long the global growth and non-oil commodity beta through long BRL, CLP, PEN vs. short USD. As Goldman’s Francesco Garzarelli writes, “these trades represent some of the highest conviction market expressions of the economic outlook we laid out in the latest Global Economics Analyst, as well as in our Top 10 Market Themes for 2018. Some of the key market themes reflected in our trade recommendations include: Strong and synchronous global expansi … |
| Nano-Cap Stock Of The Day – Why Is This China Construction Company Up 300% Today?Yesterday, it was CHF Solutions – a $10 million market cap medical device-maker – that exploded 500% higher on no news, no catalyst, no event. Today it is the turn of China Advanced Construction… China Advanced Construction Materials Group, Inc. produces construction materials for large-scale commercial, residential, and infrastructure developments. The Company is focused on ready-mix concrete materials. The $14.8 million market cap company is now up 300% on 4 million shares traded…
CADC traded over $100 in Oct 2009…
Notably, the machines can’t get enough of CHF Solutions again today – up 20% back to yesterday’s highs…
Caveat fucking emptor! |
| Car Makers Count Costs of Global Warming Emissions StandardsCar makers are spending billions to develop electric vehicles and comply with emissions rules designed to combat global warming. But the effort may not be enough to avoid hefty fines in Europe. |
| Chinese Banks Find a Convertible Solution to Capital ProblemStruggling midsize banks that need to raise equity are turning increasingly to the convertible-bond market. |
| The Bright Side of Low InflationLow inflation might be a worrying puzzle for the Federal Reserve, but it is also putting more spring in consumer spending. That will make it easier for the central bank to raise rates again when it meets next month. |
| October 2017 Headline Industrial Production Significantly ImprovedWritten by Steven Hansen The headlines say seasonally adjusted Industrial Production (IP) was up. The manufacturing segment of industrial production also improved.
|
| November 2017 Philly Fed Manufacturing Survey Declined
The Philly Fed Business Outlook Survey declined by remains in expansion. Key elements are in expansion but improved. |
| Market Snapshot: Stock market bounces back from 2-day drop; Cisco, Wal-Mart gain on resultsU.S. stocks rose on Thursday, putting major indexes on track to recover from their biggest one-day drop in months as earnings-driven gains for Cisco and Wal-Mart set the pace. |
| Bond Report: Treasury yields rise as stocks bounce as flight-to-quality reversesTreasurys pull back, pushing up yields, as a global equity gains dampen appetite for haven assets like U.S. debt amid solid economic data |
| Earnings Results: Cisco shares hit highest prices since dot-com bust after predicting return to growthCisco Systems Inc. shares rallied to levels not seen for more than 15 years in the extended session Wednesday, after the networking company topped Wall Street estimates for the quarter and offered a forecast that would result in the first revenue growth in two years. |
Written by Steven HansenEarnings Summary for Today
leading Stock Positions
Current Commodity Prices
Commodities are powered by Investing.com
Current Currency Crosses
The Forex Quotes are powered by Investing.com.
To contact me with questions, comments or constructive criticism is always encouraged and appreciated:
