Written by Gary
The US stock markets modestly-sized publicly listed companies are beating out the heavyweights (SPY +0.05%). Weakness in defensive stocks offset trade optimism after Trump’s indicated easing US-China trade tensions.
Todays S&P 500 Chart
States hoping for long-term benefits from sports betting might not get the windfall they’re looking for
Here’s where and when you’ll be able to gamble on sports legally
Goldman: Something strange is happening with the US economy that could cause interest rates to jump
CBS, Viacom had agreed on price for deal before lawsuit, sources say
Here’s the memo Elon Musk just sent announcing a major shake-up at Tesla
The Market in Perspective
| Here are the headlines moving the markets. | |
 | U.S. small caps near record highs, outperform larger rivalsSAN FRANCISCO (Reuters) – Wall Street’s modestly-sized publicly listed companies are beating out the heavyweights. The Russell 2000 , which tracks U.S. small capitalization companies, on Monday slipped 0.2 percent, but earlier in the session rose to within less than two points of its previous record high of 1,615.5 points. |
| After Trump pledge to help China’s ZTE, Commerce eyes changesWASHINGTON (Reuters) – The U.S. Commerce Department is exploring “alternative remedies” to punish Chinese telecommunication company ZTE Corp for flouting U.S. sanctions on trade with Iran after President Donald Trump intervened, Commerce Secretary Wilbur Ross said on Monday. |
| Home Depot well placed to withstand ‘Amazon effect,’ investors sayNEW YORK (Reuters) – Home Depot Inc shares have climbed with the approach of spring weather, as some investors believe the retailer is well positioned to fend off the competitive threat of online retailers as the peak season for home improvement begins. |
| CBS sues controlling Redstone family in bid for independence(Reuters) – CBS Corp filed a lawsuit on Monday to reduce the voting power of controlling shareholder National Amusements Inc, the movie theater company owned by Sumner and Shari Redstone, in an act of defiance aimed at thwarting the Redstones’ plan to merge CBS with Viacom Inc. |
| Wall St. pares gains as defensive stocks offset trade optimismNEW YORK (Reuters) – Wall Street edged higher after pulling back from stronger gains on Monday as weakness in defensive stocks offset trade optimism after U.S. President Donald Trump’s conciliatory remarks toward China’s ZTE Corp indicated easing U.S.-China trade tensions. |
| Gaming investors eye jackpot from U.S. sports betting rulingNew York (Reuters) – Shares in gaming and casino companies jumped on Monday, led by Scientific Games Corp , as investors wagered on new business opportunities for the industry after the U.S. Supreme Court paved the way for states to legalize sports betting. |
| Tesla CEO Musk tells staff he plans ‘thorough reorganization’(Reuters) – Tesla Inc’s |
| NAFTA math may not add up to more U.S. auto jobsDETROIT (Reuters) – Trump administration demands in NAFTA trade negotiations meant to push auto jobs back to the United States may not be enough to spark a shift in where automakers build cars and trucks. |
| Russian billionaires take boardroom battle to London High CourtLONDON (Reuters) – Russia tycoon Oleg Deripaska gave evidence in the London High Court on Monday in a case challenging the sale of shares in Norilsk Nickel (Nornickel) by soccer club owner Roman Abramovich. |
| Dow Clings To Longest Win Streak In 8 Months; Dollar & Bond Yields RiseJust when you thought the China trade-war was easing… The Dow is up 8 days in a row – longest streak in 8 months…BUT look where the Dow stalled today – at its 50% retrace from the Feb tumble…
Russell 2000 ripped up to test its all-time closing high (1615.52), then tumbled back into the red…
And a weak close spoiled the party…. |
| Melania Trump Hospitalized For “Benign Kidney Condition” As Harry Reid Undergoes Pancreatic Cancer SurgeryFirst Lady Melania Trump is in the hospital after she underwent a successful “embolization procedure to treat a benign kidney condition,” according to a statement by her office. “This morning, First Lady Melania Trump underwent an embolization procedure to treat a benign kidney condition. The procedure was successful and there were no complications,” reads the statement. “Mrs. Trump is at Walter Reed National Military Medical Center and will likely remain there for the duration of the week. The First Lady looks forward to a full recovery so she can continue her work on behalf of children everywhere.”
Meanwhile, former Senate Majority Leader Harry Reid (D-NV) underwent surgery for pancreatic cancer on Monday morning at Johns Hopkins Hospital in Baltimore, where doctors removed a tumor according to a statement from Reid’s family. “Today, Former Democratic Leader Harry Reid underwent surgery at Johns Hokins Cancer Center to remove a tumor from his pancreas,” the statement reads. “His doctors caught the problem early during a routine screening and his surgeons are confident that the surgery was a success and tha tthe prognosis for his recovery is good.”
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| Ron Paul Explains Trump’s Plan For Iran: Put Terrorists In ChargeAuthored by Ron Paul via The Ron Paul Institute for Peace & Prosperity, Back in the 2008 presidential race, I explained to then-candidate Rudy Giuliani the concept of “blowback.” Years of US meddling and military occupation of parts of the Middle East motivated a group of terrorists to carry out attacks against the United States on 9/11. They didn’t do it because we are so rich and so free, as the neocons would have us believe. They came over here because we had been killing Muslims “over there” for decades.
How do we know this? Well, they told us. Osama bin Laden made it clear why al-Qaeda sought to attack the US. They didn’t like the US taking sides in the Israel-Palestine conflict and they didn’t like US troops on their holy land. Why believe a terrorist, some responded. As I explained to Giuliani ten years ago, the concept of “blowback” is well-known in the US intelligence community and particularly by the CIA. Unfortunately, it is clear that Giuliani never really understood what I was trying to tell him. Like the rest of the neo … |
| Harvard Endowment Goes All-In Apple, Microsoft And GoogleOne year ago, the Harvard University endowment made news when it disclosed in its 13F filing, that its biggest publicly traded holding was a junk bond ETF, an indication of not only the recent infatuation with high yield bonds (which this year has proven to be all too dear to those who are still long junk) amid an unprecedented scramble for any instrument with yield, but also of the creeping shift to passive investments as the school replaced some of its own traders with external money managers. That was the case until the fourth quarter, when Harvard’s latest $855MM position in HYG was dissolved, and in the fourth quarter, Harvard reported only $114.2 million in long equity exposure for 13F purposes, a steep drop from the $1.02 billion in holdings in Q3 2017. Then late on Friday, the Harvard endowment reported its latest 13F, in which it had another surprise: of its $817 million in long positions as of March 31, 2018, the vast majority, or 72% to be precise, was just three stocks: Apple (35%), Microsoft (21%) and Alphabet (16%), with the remaining positions – mostly ETFs – accounting for just 28% of Harvard Endowment’s long equity positions. Specifically, the Harvard Management Company bought 1.69 million of AAPL. 1.85 million shares of MSFT and 129,000 of GOOGL, the latest 13F revealed. |
| Venezuela’s Oil Meltdown Is Getting WorseDeath spiral is an overused term, but it is justified when describing Venezuela’s oil industry right now. Energy consumers and investors should pay attention. |
| Investors Shouldn’t Be So Quick to Swipe Left on Tinder’s OwnerIAC and Match.com, the owners of Tinder and other dating services, were rattled by Facebook’s plans to launch a dating service. But there’s room for two in this market. |
| Startups Show Insurers They Need to Get SmarterEstablished insurers will struggle to boost profits while the property and casualty industry is flooded with capital and investment returns remain depressed. Their only option is to get quicker and smarter. |
| The Tell: Wall Street’s ‘fear index’ is giving stock-market investors a wrong reading, says GoldmanAccording to Goldman Sachs strategists, the Cboe Volatilty Index is offering a reading that’s too low given the size of the S&P 500’s recent moves. |
| Capitol Report: Here’s how much $3-per-gallon gas will offset the tax cutsIt’s a question on everyone’s minds, as gas price tip toward $3 a gallon nationally and campaigning for midterm elections heats up — will the rise in gas prices offset the benefit of the tax cuts? |
| Here’s one theory why people in their 20s and 30s are reluctant to investSeveral studies suggest a majority of millennials are not invested in the stock market. |
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