Written by Gary
All three major benchmarks achieved record highs today (SPY +0.2%), as strong results from Netflix helped lift the S&P and Nasdaq Composite, but declines in Johnson & Johnson and Procter & Gamble kept the Dow Industrials in check.
Todays S&P 500 Chart
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Stock market hits fresh round of records; Netflix’s shares rally after results
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3 Obamacare taxes, including one on higher-value plans, are suspended in deal to end shutdown
Fearful millennials are finally ready to take a chance on the stock market
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JP Morgan says iPhone X orders are getting slashed, and Apple’s shares are moving down on the news
The Market in Perspective
|Here are the headlines moving the markets.|
S&P, Nasdaq get Netflix boost; Dow dragged by J&J, Procter
NEW YORK (Reuters) – U.S. stocks advanced on Tuesday, as strong results from Netflix helped lift the S&P and Nasdaq Composite, but declines in Johnson & Johnson and Procter & Gamble kept the Dow Industrials in check.
J&J takes $13.6 billion charge related to new U.S. tax law
(Reuters) – Healthcare conglomerate Johnson & Johnson on Tuesday took a $13.6-billion charge related to the new U.S. tax law and plans to bring back billions of dollars from overseas immediately.
Trump signs solar panel tariff, angering U.S. installers
WASHINGTON/LOS ANGELES (Reuters) – U.S. President Donald Trump signed into law a steep tariff on imported solar panels on Tuesday, a move billed as a way to protect American jobs but which the solar industry said would lead to thousands of layoffs and raise consumer prices.
NYSE sees no need to ‘bend over backwards’ to woo Aramco IPO
DAVOS, Switzerland (Reuters) – The New York Stock Exchange took a swipe on Tuesday at its London rival in their battle to attract the foreign listing of shares in oil giant Saudi Aramco, saying it didn’t need to “bend over backwards” to lure what could be the world’s biggest IPO.
Crunch time for NAFTA as negotiators open Montreal round of talks
MONTREAL (Reuters) – U.S., Canadian and Mexican negotiators opened a key week-long round of talks to modernize NAFTA on Tuesday amid persistent concerns the Trump administration is preparing to walk away from the trade deal, a move that could roil financial markets.
U.S. appeals court decertifies class action in Hyundai fuel economy settlement
NEW YORK (Reuters) – A U.S. appeals court on Tuesday overturned a lower court’s decision to grant class certification to car owners who settled with Hyundai Motors and its Kia affiliate over the fuel efficiency of its vehicles.
New York City sues drug companies over opioid epidemic
NEW YORK (Reuters) – New York City on Tuesday sued eight companies that make or distribute prescription opioids, blaming them for fuelling a deadly epidemic afflicting the most populous U.S. city.
Online lender SoFi nabs Twitter executive Noto as CEO
(Reuters) – Wall Street banker turned Silicon Valley executive Anthony Noto has left Twitter Inc to become chief executive officer of online lender Social Finance Inc, the companies said on Tuesday.
Qualcomm set to be fined by EU antitrust regulators: FT
(Reuters) – The European Union is set to fine U.S. chipmaker Qualcomm Inc for taking advantage of its dominance when it paid Apple Inc to use its chips exclusively in Apple mobile devices, The Financial Times reported on Tuesday.
“That Was Easy” Stocks Up, Bonds Up, Gold Up, Crypto Up… Dollar Down Again
Come on now…
Nasdaq was the day’s big winner, Dow flatlined…
Nasdaq was all about NFLX…
Futures show the chaos best from the shutdown shrug and un-shutdown buying-panic…
Peak Hubris? Ray Dalio Mocks “Stupidity Of Holding Cash”
Authored by Mike Shedlock via MishTalk,
Bridgewater’s Ray Dalio says investors in cash are going to feel pretty stupid.
Speaking at Davos, the head of world’s largest hedge fund says ‘If You’re Holding Cash, You’re Going to Feel Pretty Stupid’.
Worried about rising interest rates? The Fed will need to figure it out says Dalio.
Trigger Not Needed
Meanwhile, economist Robert Shiller says Stock Markets Don’t Need a ‘Trigger’ to Correct.
“Something Strange Is Going On With VIX…”
At the end of last week, we noted that VIX and the S&P 500 were behaving in an unusual manner.
Specifically, for the second week in a row, S&P and VIX were higher together… the first time since Nov 2013.
And VIX was drastically decoupled from stocks since 2018 began…
But, even more ‘odd’ as noted by Eric Robertsen, head of global macro strategy and FX research at Standard Chartered, “something very strange is happening with the VIX term structure.”
Typically, as Bloomberg reports, the VIX curve flattens during market selloffs as investors bid up front-end volatility.
In recent days, however, the curve has flattened as the market kept rallying.
Here’s a look at the five-day mo …
Google Suspends Publisher Fact-Checking After Accusations Of Discrimination
Google is following in Facebook’s footsteps and abandoning a search feature that displayed fact checks for publishers after a malfunction prompted conservative media outlets to accuse Google of discrimination.
Facebook ditched its “Fake News” flag last month after it discovered that flagged stories actually saw a boost in readership. Last week, CEO Mark Zuckerberg revealed that Facebook would try out a new system: It would rank news organizations by trustworthiness, using data gleaned from user surveys.
The feature in question is Google’s “Reviewed Claims” feature, which was launched last year.
A Google spokesperson said the company was withdrawing the service because “it’s clear that we are unable to deliver the quality we’d like for users.”
Disney Won’t Have Same Problem With Regulators as Fox Did
The U.K.’s provisional move to block 21st Century Fox’s $15.5 billion bid for Sky is hardly a death sentence.
Consumer Brands Can’t Cut Their Way to Growth
Procter & Gamble and Kimberly-Clark are under pressure to invest in expansion.
How Central Banks Doing Nothing Can Still Move Markets
The Bank of Japan stuck to its policy guns Tuesday. The European Central Bank is likely to do the same on Thursday. But even a lack of immediate action can’t stop market perceptions of shifting.
Earnings Outlook: Starbucks earnings: Digital platform expected to show a slowdown
Starbucks’ digital platform has experienced a slowdown analysts say, but there are opportunities for growth in 2018
Shark charities flooded with donations after Trump says he hopes sharks die
Raising money to protect the feared sea creatures can be a challenge.
Earnings Outlook: GE earnings: Can it possibly get any worse?
Can it possibly get any worse for General Electric Co.? Investors will find out when the struggling industrial conglomerate reports fourth-quarter results before Wednesday’s open.
Summary of Economic Releases this Week
Earnings Summary for Today
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