26Jun2018 Market Close: Wall Street Bounces Back With Help From Energy, Technology, Oil Hits $70 As U.S. Toughens On Iran, US Dollar Index Climbs Back Into The 94 Level, Critical Support Levels In Question Tomorrow

Wall Street bounces back with help from energy, technology

(Reuters) – U.S. stocks rebounded on Tuesday on gains in the energy, technology and consumer discretionary sectors after a sharp sell-off a day earlier on spiraling global trade tensions.

GE breakup leaves it with best and worst performers

(Reuters) – General Electric Co said on Tuesday it will spin off its healthcare business and divest its stake in oil-services firm Baker Hughes, effectively breaking up the 126-year-old conglomerate which was once the most valuable U.S. corporation and a global symbol of American business power.

Trump revs up attacks on Harley-Davidson over production move

WASHINGTON/CHICAGO (Reuters) – U.S. President Donald Trump threatened Harley-Davidson Inc with higher taxes on Tuesday and said the iconic motorcycle maker would suffer from a public backlash if it goes ahead with a plan to move production for European customers overseas.

Automakers to warn Trump of $45 billion higher vehicle costs if tariff imposed

WASHINGTON (Reuters) – An automotive trade group said on Tuesday it would tell the Trump administration that a U.S. threat to impose a tariff of up to 25 percent on imported passenger vehicles under national security grounds would cost American consumers $45 billion annually, or $5,800 per vehicle.

Facebook eases ban on cryptocurrency related ads

(Reuters) – Facebook Inc on Tuesday decided to allow certain ads promoting cryptocurrency and related content from pre-approved advertisers, but would continue its ban on those tied to binary options and initial coin offerings.

Ex-State Street executive convicted in U.S. of hidden fee fraud

BOSTON (Reuters) – A former State Street Corp executive was convicted on Tuesday of participating in a scheme to defraud several of the bank’s customers by charging them secret commissions on billions of dollars of trades.

Trump says CFIUS can protect U.S. technology from Chinese acquisitions

WASHINGTON (Reuters) – President Donald Trump said on Tuesday that sensitive U.S. technology can be protected from acquisition by China through the committee that scrutinizes foreign acquisitions of American companies, but the ultimate method was still being worked out.

Put on probation, Uber wins London license to avoid ban

LONDON (Reuters) – Uber Technologies Inc won a probationary licence to operate in London on Tuesday in a partial victory for its new chief executive after it made changes to ease strained relations with city authorities.

Trump says finishing U.S. study on tariffs on cars from EU

WASHINGTON (Reuters) – U.S. President Donald Trump said on Tuesday the government was completing a study about increasing import tariffs on cars from the European Union and suggested he would take action soon.

US Dead-Cat-Bounce Fades As ‘Weaponized’ Yuan Tumbles

It was BTFD day in America…

China was a mixed bag overnight as the tech-heavy CHINEXT was suddenly panic bid (National Team?) but SHCOMP closed in a bear market…

Europe continues to slide…

But US stock investors (machines) decided today was BTFD day (Trannies never made it into the green today)…

Market Drop Prompts Trump To Offer China A Trade War “Olive Branch”

One day after the market tanked followed media reports that the Trump administration would pursue new initiatives to limit Chinese investments in US tech industries, on Tuesday the president suggested that he will ease off demands for such new restrictions, and will rely instead on a 1988 law being updated by Congress that authorizes the government to review foreign investments for national security problems.

Speaking to reporters at the White House, Trump said that “we have the greatest technology in the world, people come and steal it. We have to protect that and that can be done through CFIUS,” or the Committee on Foreign Investment in the U.S., which traditionally has screened foreign investments to see whether they endanger national security.

Trump also said that the recent WSJ article reporting that the administration was planning two further initiatives, in addition to CFIUS, to prevent Beijing from obtaining advanced U.S. technology, “a bad leak…probably just made up.”

Why is this stated policy important? Because according to the WSJ it would represent a potential “olive branch” for Trump in the escalating trade war with China, and a signal that the US is willing to break the tit-for-tat escalation:

If Mr. Trump’s decision holds through June 30, when the new policies are scheduled to be announced, it would represent a significant backing away from threats the president has made against China and a possible olive branch to Beijing before the July 6 impositon of tariffs on $34 billion of Chinese goods.

Meanwhile, lawmakers who have worked on a CFIUS reform bill have also …

Facebook Wants To Spy On You Via Hidden Inaudible TV Ad Messages

Authored by Mac Slavo via SHTFplan.com,

Social media giant Facebook continues to ramp up the creepy factor. According to a recently filed patent, Facebook wants to spy on you by hiding inaudible messages in TV ads.

Facebook has filed a patent for a system that hides audio clips in TV commercials. These sounds would be so high-pitched that they are inaudible to human beings. They would then trigger your phone to record all the background noises in your home. The patent application is called “broadcast content view analysis based on ambient audio recording.”

18 Democrats Sue Trump To Reunite Immigrant Families

As outrage over President Trump’s “zero tolerance” policy continues to bubble, a group of Democratic attorneys general from 17 states, including Washington, are suing to force the Trump administration to reunite migrant families who have been separated at the US-Mexico border.

In what may be simply a coincidence, the new lawsuit was filed just hours after the Supreme Court overturned a series of lower court rulings blocking the third version of President Trump’s travel ban, which stoked opposition among the same group of attorney generals.

The group filed the lawsuit in a US District Court in Seattle on Tuesday: it’s the first legal challenge to the practice made by US states, and accuses the administration of denying the migrants the right to due process and their right to seek asylum, the Associated Press reported.

Before Trump signed his executive order ending the separations, US authorities had separated 2,300 chil …

GE’s Plan Rests on Promises and Some Sleight of Hand

GE’s transformative moves will buy it valuable time to reduce leverage, but investors should wait for more concrete improvements in the businesses.

Has the Big Yuan Short Finally Arrived?

Trade wars are brewing, Chinese stocks are tanking and investors are getting nervous about Chinese growth again.

Why Visa and Mastercard Should Thank the Supreme Court, Too

A court victory for Amex will help the three big card companies continue charging high fees and hurt upstart payment companies.

How ‘Fortnite’ cracked the code to become the most successful free videogame ever

The out-of-nowhere success of “Fortnite” reveals that there is a massive opportunity up for grabs in videogames, if any company can replicate the secret sauce of the hit “battle royale” game.

Market Extra: Forget the tariff tantrum—S&P 500 is headed 10% higher in 2018, says Blackstone’s Wien

Blackstone’s Byron Wien, who predicted that some “lurking” geopolitical factor would upset the U.S. equity markets a few weeks ago, says that the S&P 500 is on track to hit 3000 in next half of 2018.

Trump Today: President threatens to tax Harley-Davidson ‘like never before’ if it shifts production overseas

President Donald Trump threatened to tax motorcycle-maker Harley-Davidson “like never before” if the company moves production overseas, as he hosted members of Congress at the White House and again criticized Rep. Maxine Waters.