Written by Gary
The US equities main benchmarks may be heading for new historic highs as Senate Republicans announce they have the votes for tax plan. (SPY -0.4%)
Here is the current market situation from CNN Money | |
North and South American markets are mixed today. The IPC is up 0.28% while the Bovespa gains 0.27%. The S&P 500 is off 0.44%. |
Traders Corner – Health of the Market
What Is Moving the Markets
Here are the headlines moving the markets. | |
ABC report on Flynn rocks Wall Street(Reuters) – U.S. stocks sank on Friday after ABC News reported former national security adviser Michael Flynn was prepared to tell investigators that Donald Trump directed him to make contact with Russians during last year’s presidential elections. | |
Bitcoin rebounds to $10,500 after U.S. regulator approves futuresLONDON (Reuters) – Bitcoin rebounded on Friday to hit the day’s highs above $10,500, recovering from an earlier dip below $9,500, after the U.S. derivatives regulator said it would allow CME Group and CBOE Global Markets to list bitcoin futures. | |
Sale of the century? $300-billion Saudi state sell-off moves slowlyDUBAI/RIYADH (Reuters) – Saudi Arabia’s $300-billion privatization program was billed as the sale of the century when Crown Prince Mohammed bin Salman unveiled his plan to great fanfare. Nineteen months later, it is moving at a snail’s pace, bankers, investors and analysts familiar with the process say. | |
Exclusive: Tezos founders push for legal bailout from Swiss foundationNEW YORK/ZURICH (Reuters) – The couple behind the embattled Tezos cryptocurrency tech project wants the Swiss-based Tezos Foundation to cover their costs for lawsuits accusing them of fraud related to an online fundraiser it ran, people familiar with the matter told Reuters. | |
Exclusive: VW in talks to buy stake in Russia’s GAZ – sourcesMOSCOW (Reuters) – German carmaker Volkswagen is in talks to buy a stake in GAZ , a Russian manufacturer of light commercial vehicles (LCV), five sources familiar with the talks told Reuters. | |
In a push upmarket, Wells Fargo gives top brokers raises in 2018NEW YORK (Reuters) – Wells Fargo & Co is giving its top brokers and advisory teams as much as a $40,000 raise next year in a broad strategy to go after wealthier clients, company executives said Friday. | |
Icahn wants to probe SandRidge books, records(Reuters) – Activist investor Carl Icahn has asked to inspect certain books and records of SandRidge Energy Inc, according to a regulatory filing on Friday, a day after he called the company’s bid for Bonanza Creek Energy Inc “value-destroying”. | |
Macy’s hires more workers after Black Friday rush(Reuters) – Macy’s Inc said on Friday it had a strong start to the holiday shopping season and would hire an additional 7,000 temporary workers for its stores to deal with heavy customer numbers in the run up to Christmas. | |
Capital One must face overdraft fee lawsuit: U.S. appeals courtNEW YORK (Reuters) – A federal appeals court on Friday revived a proposed class-action lawsuit accusing Capital One Financial Corp of imposing illegal overdraft fees on customers. | |
Is This The Reason For EONIA’s “Mystery” Surge?‘Mystery’ solved… maybe. Bloomberg is reporting that excess liquidity within Greek banks – who leant it to their credit-risky peers at notably high rates – are responsible for the sudden, scary spike in EONIA over the last two days, according to two bankers with knowledge of the matter.
Today … | |
James Comey Gloats About Flynn Guilty Plea On TwitterFormer FBI Director James Comey just couldn’t help himself. Shortly after his longtime friend and former colleague Robert Mueller procured a guilty plea from former National Security Adviser Michael Flynn, who will reportedly testify against President Trump and members of his family, Comey tweeted a Bible passage in what seemed like gloating: “But justice roll down like waters and righteousness like an ever-flowing stream”.
Two days earlier, Comey published another cryptic tweet that seems to suggest he might’ve had advance knowledge of the Flynn plea – something that would’ve been improper given his status as a witness in the Mueller probe.
Moments after news broke about Flynn “flipping” on Trump, Flynn released a statement saying he acknowledged his actions were wrong.
| |
“Statement Of The Offense”: Here Is Mueller’s Full Case Against FlynnAs the public scrambles to uncover more information on just what Flynn knows, or doesn’t know, and how exactly he is cooperating with Mueller, moments ago the Special Counsel has released the following “statement of the offense”, i.e., i.e., Robert Mueller full case against Flynn, which he will hope to use and impeach Trump. It all boils down to two phone calls between a senior member of the Trump administration and the Russian ambassador to the US at the time. Here is the key section:
| |
Mike Flynn Issues Offical Statement, Trump’s Lawyer RespondsMoments after the stunning news that Mike Flynn “flipped” on Trump as part of his guilty plea, and was preparedd to testify against Trump, the former National Security Advisor released the following statement:
At the same time, Trump attorney Ty Cobb countered saying that nothing about Michael Flynn’s guilty plea “implicates anyone other than Mr. Flynn.” The full text below:
| |
Chinese Battery Champion Has Fully Charged IPOChina has the world’s largest market for electric cars and wants its companies to dominate globally when it comes to the batteries that power these vehicles. That makes the initial public offering of a turbocharged player at the center of that effort well worth watching. | |
Credit Suisse Decides the Best Target Is One You Can HitTidjane Thiam has learned to be a little more cautious since he took the reins at Credit Suisse. The Swiss bank’s CEO set fresh profit and payout goals its investor day, but the strong share-price reaction is a slight surprise. | |
Kroger Investors Cleaning Up in Aisle FiveSupermarket chain Kroger, slammed by Amazon’s entry into the grocery business and other competitive fears, is bouncing back and still looks like a bargain. | |
October 2017 Headline Construction Spending Growth ImprovesWritten by Steven Hansen The headlines say construction spending was up and above expectations. Our view is that this does not consider inflation, and the trend lines clearly show a slowing sector. | |
The Moneyologist: My stepmother won’t speak to me or keep me updated on my elderly father’s healthThis woman wants her husband’s children to stay while she takes a vacation. | |
The Moneyologist: I kept $20,000 from my mom’s estate — now my siblings are threatening to sueThis woman faces a lawsuit by her siblings to reclaim stolen money. | |
Thanks to Matt Lauer, your office Christmas party will be booze-free this yearWhether you call it ‘The Weinstein effect’ or ‘The Lauer Effect,’ your office party is ruined this year |
Earnings 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: