Written by Gary
As expected, the US stock market major index’s futures are rolling over and trending down (SPY +0.8%) after investors rate hike think about more interest rate hikes this year.
Here is the current market situation from CNN Money | |
 | North and South American markets are higher today with shares in Brazil leading the region. The Bovespa is up 0.88% while Mexico’s IPC is up 0.85% and U.S.’s S&P 500 is up 0.71%. |
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.
Leading economic indicators jump in January — fourth straight monthly rise
Benchmark U.S. mortgage rates hit 4-year high as bond yield leap
Everything you need to know about the consumer-price index and how it impacts you
Why 3.5 million Americans in their prime years aren’t working — and no, it’s not video games
U.S. initial unemployment claims return to 45-year low
U.S. businesses grow rapidly at start of 2018, IHS Markit finds
Applebee’s to close 80 more restaurants
Twitter left-wing bias in bot purge cited by conservative users
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| Exclusive: As Trump trashes NAFTA, Mexico turns to Brazilian cornCHICAGO/MEXICO CITY (Reuters) – Mexican buyers imported ten times more corn from Brazil last year amid concern that NAFTA renegotiations could disrupt their U.S. supplies, according to government data and top grains merchants. |
| Wall St. rises sharply as rate hike fears ease(Reuters) – Gains in technology and industrial shares helped U.S. stocks rebound from a two-day fall on Thursday as investors shrugged off the prospects of more interest rate hikes this year. |
| U.S. jobless claims near 45-year low as economic outlook brightensWASHINGTON (Reuters) – The number of Americans filing for unemployment benefits fell to a near 45-year low last week, pointing to strong job growth in February and solid momentum in the economy. |
| Ford reshuffles executives after abrupt departure of U.S. chief(Reuters) – Ford Motor Co on Thursday named company insider Kumar Galhotra as head of its North American operations, filling the gap left by the abrupt departure of Raj Nair after an internal investigation uncovered “inappropriate behavior” by the executive. |
| Stymied by regulators, Airbnb looks to luxury vacations, hotels for growthSAN FRANCISCO (Reuters) – Airbnb is rolling out new services aimed at attracting travelers looking for luxury accommodations and traditional hotels, the latest move to contend with sputtering growth in its original home-renting business. |
| Irish taxman sees disputed Apple bill remaining around $16 billionDUBLIN (Reuters) – Ireland expects the final disputed tax bill that the European Commission ordered it to collect from Apple to be “in the ballpark” of the 13 billion euros ($16 billion) estimated, the head of the country’s tax collectors said on Thursday. |
| Toys are not us: Target investors(Reuters) – Target Corp should hold off on plans to cash in on a perceived advantage in toys after the collapse of Toys “R” Us, several of the company’s investors told Reuters, worried it could eat up capital desperately needed in an Amazon-dominated retail world. |
| President of Tezos Swiss foundation steps downNEW YORK (Reuters) – The president of a Swiss foundation that conducted a $232 million online fundraiser for the embattled Tezos cryptocurrency project has stepped down, the foundation said in a statement on Thursday. |
| Takata agrees to settle U.S. probe by 44 state AGs over deadly air bagsWASHINGTON (Reuters) – Takata Corp’s U.S. unit agreed Thursday to settle a probe by 44 state attorneys general into claims it concealed a deadly safety defect with air bag inflators. |
| Deficits Do MatterAuthored by Michael Lebowitz via RealInvestmentAdvice.com, The Federal Reserve (Fed) has increased the Fed Funds rate by 125 basis points or 1.25% since 2015, which had little effect on bonds until recently. Of late, however, yields on longer-maturity bonds have begun to rise, contributing to anxiety in the equity markets. The current narrative from Wall Street and the media is that higher wages, better economic growth and a weaker dollar are stoking inflation. These forces are producing higher interest rates, which negatively affects corporate earnings and economic growth and thus causes concern for equity investors. We think there is a thick irony that, in our over-leveraged economy, economic growth is harming economic growth. Despite the obvious irony of the conclusion, the popular narrative has some merits. Fortunately, the financial markets provide a simple way to isolate how much of the recent increase in longer-term bond yields is due to growth-induced inflation expectations. Once inflation is accounted for, we shine a light on other factors that are playing a role in making bond and equity investors nervous. Given the importance of interest rates on economic growth and stock prices, understanding the supply and demand for interest rates, as laid out in this article, will provide benefits for those willing to explore beyond the headlines. Nominal vs. Real Since September of 2017, the yield on the five-year U.S. Treasury note has risen 90 basis points while the ten-year U.S. Treasury note has increased 75 basis points. At the same time, inflation, as measured by annual changes in CPI, declined slightly from 2.20% to 2.10%. Recent inflation data, while important in understanding potential trends, is by definition historical. As such, forecasts and expectations for inflation over the remaining life of a … |
| Russia Deploys Two Brand New Su-57 Stealth Fighters To SyriaUnverified photos and video footage has emerged on Twitter, showing two new Russian Su-57 stealth fighters, also known as the PAK FA and T-50, landing at Khemimim air base, near Latakia, in northwestern Syria. The two stealth combat aircraft were reportedly part of a larger package of assets deployed to the Russian airbase in Syria.
Subsequent footage analysis confirm that the videos were indeed taken in Syria as the jets made a landing at Russia’s master air base located south of Latakia:
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| Kylie Jenner Krushes Snap – One Tweet Costs Company $1.4 Billion Market CapIf this isn’t quite the death of Snapchat, it’s definitely a serious blow. Snap shares were down more than 7% this morning after Kylie Jenner tweeted her criticism of Snapchat’s latest redesign last night: “soooo does anyone else not open Snapchat anymore? Or is it just me…ugh this is so sad.” We imagine the company’s shareholders would agree.
Shortly after, she tweeted something of an apology: “still love you snap… my first love.”
But the damage had, apparently, already been done…the company’s shares have now erased most of their post-earnings climb… The Snapchat parent’s shares sank as much as 7.2 percent Thursday, erasing $1.3 billion in market value. |
| Local Police Let Florida Shooter Off The Hook When He Said He Was “Going To Get His Gun”CNN’s FOIA of Broward County 911 records has produced a steady stream of scoops about Parkland, Fla. school shooter Nikolas Cruz fleshing out much of what is publicly known about Cruz’s background and the various reports made warning the FBI and other authorities about his threatening behavior. The report draws on one specific incident that unfolded in the immediate aftermath of Cruz’s mother’s death, when Cruz and his brother Zachary Cruz were living in Palm Beach County with Rocxanne Deschamps, a former neighbor who had been close to the family. After one particularly violent outburst, Cruz said he was going to Dick’s to pick up the AR-15 he had recently paid for, and that he would come back to attack her.
The police were warned by Deschamps, who told them about Cruz’s violent past – that he’d “used a gun against people before” and had “put the gun to others’ heads in the past” – but still they did nothing. Cruz and his brother only lived with Deschamps for a few weeks before Nikolas was taken in by the Sneads, but Zachary – who reportedly suffered a breakdown following the shooting – stayed with Deschamps. Cruz had been staying with |
| How Gargantuan Can Private Equity Get?The biggest private-equity firms are in a fund-raising frenzy, but it will be increasingly hard to find the returns that have made them such money magnets. |
| What Will Keep the Chinese Consumer Strong?China’s consumer confidence has reached a high since Nielsen started compiling the index in 2005. Luxury goods, in particular, are back in vogue. But the property market brings risks. |
| Tough Start for HousingHomes sales slowed in January even before higher rates and the tax law hit the market. |
| Key Words: Fed’s Dudley says there’s a ‘speculative mania’ in the cryptocurrency marketPresident of the New York Fed, William Dudley is the latest high-profile policy maker to warn of the dangers in the cryptocurrency market. |
| The depressing reason most Americans are making more moneyAs they go without wage increases, this is what Americans are doing to earn more money. |
| Trump Today: President says NRA leaders ‘love our country’ and will do ‘right thing’President Donald Trump says that leaders of the National Rifle Association are “great people” who will “do the right thing,” as he meets lawmakers to discuss school safety in the wake of the deadly shooting at a Florida high school last week. |
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