13Mar2018 Market Close: Wall Street’s Major Indexes Fell Moderately Today On Tillerson Exit, Tariff Worries, Tech Shares Slide, Microsoft Amound Worst-performing Stocks Falling 2.4 Percent

New Boeing jet to accelerate services shake-up

(Reuters) – Boeing Co is doubling down on its landmark new strategy designed to muscle in on the business of maintenance providers by making its next jet the laboratory for in-house services that could radically alter the global business model for selling planes.

Wall Street falls on Tillerson exit, tariff worry

NEW YORK (Reuters) – Wall Street’s major indexes fell on Tuesday as the dismissal of Secretary of State Rex Tillerson and the possibility of additional tariffs dragged down stocks across sectors.

U.S. wants judge to exclude key AT&T argument in Time Warner merger trial

WASHINGTON (Reuters) – The U.S. Justice Department wants a judge to bar AT&T Inc from using a voluntary commitment it made on licensing content as part of its defense when an antitrust trial begins next week over the fate of the company’s planned $85 billion merger with Time Warner Inc , court documents show.

Big banks shake up Washington lobbying shops

WASHINGTON (Reuters) – Two of Wall Street’s largest Washington-based trade groups said on Tuesday that they were merging, as big banks rethink their lobbying strategies under the business-friendly administration of U.S. President Donald Trump.

Broadcom to stay on deal path after Qualcomm halt: analysts

(Reuters) – Broadcom Ltd Chief Executive Hock Tan is unlikely to slow his acquisition spree after U.S. President Donald Trump blocked the microchip maker’s $117 billion bid for Qualcomm Inc on national security grounds, analysts said on Tuesday.

Investors challenge Tilton’s U.S. bankruptcy plan for her Zohar funds

WILMINGTON, Del (Reuters) – A lawyer for investors in Lynn Tilton’s distressed debt empire told a U.S. judge on Tuesday that his clients plan to challenge her plan to use a bankruptcy filing to end years of legal battles over her private equity portfolio.

Gasoline, rents curb U.S. consumer price gains in February

WASHINGTON (Reuters) – U.S. consumer prices increased marginally in February amid a decline in gasoline prices and a moderation in the cost of rental accommodation, the latest indication that an anticipated pickup in inflation likely will be only gradual.

Goldman moves Spanish dealmaker to Madrid ahead of Brexit: sources

LONDON/MADRID (Reuters) – Goldman Sachs is moving one of its senior London-based dealmakers to Madrid as part of a plan to strengthen its European network ahead of Brexit, sources familiar with the matter said.

Saudi Aramco international listing looks increasingly difficult: sources

DUBAI/LONDON (Reuters) – Saudi Arabia is increasingly looking to just float oil giant Saudi Aramco locally as plans for an initial public offering (IPO) on an international exchange such as London or New York hang in the balance, sources close to the process said.

Rexit Rout: Gold Pops As Tech Stocks, Bond Yields, Dollar Tumble

It appears Rexit was a bigger deal to markets than Cohn-xit…

Between Rexit, UK-Russia tensions, and Trump’s tariffs on China, bonds and bullion were bid as safe-havens while the dollar and stocks slumped…

Tech stocks were the most troubled today following the Qualcomm/Broadcom deal death and chatter from Washington of more targeted tariffs on China, but everything (except Trannies) was down…

This broke the Nasdaq’s …

“It’s Time To Be Alert!”

Authored by Steven Vanelli via Knowledge Leaders Capital blog,

This is the time to be alert for any signs of a failure in the S&P 500. Why? There are two really good historical precedents to the current market configuration.

The set-up is as follows: stocks suffer a rather quick correction, bounce back, take out the previous lows and experience a waterfall decline. The period of time from the bounce-back high to a new low was seven days.

Let’s look at the 1929 crash to start. The S&P 500 peaked at 31.86 on September 16, 1929. Over the next 14 days, the index experienced a 10.08% correction. Then, over the next four days, stocks bounced back by 7.54%. What followed was a seven-day period of time where stocks drifted lower, and then on October 18, 1929 the low was broken and a waterfall decline ensued. The decline from October 8, 1929 to November 13, 1929 was a 22-day waterfall decline, with stocks dropping 42.68% into November 13, 1929.

The 1987 crash was a remarkably similar experience. Stocks peaked on August 25, 1987 and then began a 7.79% decline over 18 days. Stocks then rebounded by 5.65% over the following 10 days, peaking on October 5, 1987. Ove …

The Trade War Escalates: Trump Demands Broader Tariffs Against China

Just when investors thought President Trump might be easing up on his protectionist push following the uproar caused by his decision to slap tariffs on steel and aluminum imports, Politico is reporting that Trump’s next trade salvo will be explicitly directed at China.

According to Politico, Trump last week told Cabinet secretaries and top advisers during a White House meeting that he wants to hit China with steep tariffs and other restrictions as retaliation for Chinese policies blatantly designed to siphon valuable intellectual property from US companies. The measures would be a follow up to an order issued by Trump over the summer, when he ordered the Commerce Department to launch an investigation into Chinese IP theft, using an obscure law that was frequently employed by the Reagan administration.

* * *

As we explained back in August, with total bilateral trade of more than half a trillion dollars a year, the list of potential losers from Trump’s protectionist policies is notably lengthy:

U.S. compa …

China Is A Greater Threat To The US Than Russia, Pompeo Says

After a year of delivering President Trump’s daily intelligence briefing, CIA Director Mike Pompeo is finally getting his shot at the big chair.

Assuming Pompeo’s nomination sails through the Senate (in January 2017, he was easily confirmed as CIA director in a 66-32 vote), he cold officially take over for Tillerson as soon as the first or second week in April. Back then, Pompeo faced resistence from a small but vocal contingent of Senate Democrats, and – of course – Rand Paul.

Rumors that Pompeo would replace Tillerson at the State Department have been circulating since at least October, when we published a post entitled “Will CIA Director Mike Pompeo Replace Rex Tillerson As Secretary Of State?”

As investors attempt to suss out what, exactly, Pompeo’s nomination means for markets, Citi published a note breakin …

When the Fed Wishes for Inflation

Inflation is dead, at least for now, and that is making life more difficult for the Federal Reserve.

Don’t Mistake Market Calm for Being Out of the Woods

Investors should search the past for lessons about where we are in the market cycle. 2005 was an instructive moment.

Tillerson’s Golden Parachute

Rex Tillerson is having a bad day, but a glance at the share price of Exxon Mobil might make the day of his firing better.

Trump Today: Trump Today: President ousts Tillerson and says Kudlow has ‘good chance’ for White House job

President Donald Trump said Tuesday he decided “by myself” to oust Secretary of State Rex Tillerson, as he told reporters Larry Kudlow had a “very good chance” at becoming his White House economist, and visited California for the first time as commander-in-chief.

Fake-news concerns haven’t diminished love for YouTube: report

The Google-owned streaming video platform ranked sixth on a recent list of most intimate brands, up from 25th a year ago.

Women who want to be CEO should take a closer look at this industry

Women are the boss more frequently than men in many companies in this industry.