25Jul2018 Market Close: Wall Street Rises On U.S.-EU Trade Deal Hopes, DOW Closes Up 172 Points, Facebook Stock Down 9% After Earnings, Nasdaq Closes At New Record High

Trump, Juncker voice desire to reduce tariffs, trade tensions

U.S. President Donald Trump and the European Union’s chief executive, Jean-Claude Juncker, both expressed a desire on Wednesday to cut tariffs and ease trade transatlantic trade tensions as a high-stakes White House meeting got underway.

Trump secures concessions from EU to avoid trade war: Dow Jones citing EU official

U.S. President Donald Trump has secured concessions from the European Union to avoid a trade war, CNBC reported on Wednesday, quoting a Dow Jones report that cited an EU official.

Trump, Juncker expected to speak at White House following trade meeting: officials

U.S. President Donald Trump and the European Union’s chief executive, Jean-Claude Juncker, were expected to make statements at a joint event on Wednesday following a meeting on trade, White House officials said.

Wall St. rises on U.S.-EU trade deal hopes, tech gains

Wall Street’s major indexes rose on Wednesday after U.S. President Donald Trump said he hoped to reach a trade deal with Europe as he met with European Commission President Jean-Claude Juncker.

Trump says he hopes to strike trade deal with Europe

U.S. President Donald Trump said on Wednesday he hopes to work out a fair and reciprocal trade deal between the United States and Europe as he welcomed the head of the European Commission to the White House for talks.

Global stock rally adds fourth straight day as trade fears ebb

Global stocks extended their rally into a fourth consecutive day on Wednesday as investor optimism over corporate earnings trumped concern about the trade war.

Sinclair, Tribune shares jump after Trump knocks FCC in tweet

Sinclair Broadcast Group Inc and Tribune Media Co shares rose on Wednesday after U.S. President Donald Trump criticized the Federal Communications Commision for deferring a decision last week on their proposed $3.9 billion tie-up and a federal appeals court upheld a rules change on broadcast ownership rules.

FCC chairman stands by Sinclair Tribune merger review decision

Federal Communications Commission Chairman Ajit Pai said on Wednesday he stands by the decision to refer Sinclair Broadcast Group Inc’s $3.9 billion proposed acquisition of Tribune Media Co for review by an administrative law judge despite critical comments from U.S. President Donald Trump.

China keeps Qualcomm guessing on NXP fate as bid enters final hours

Qualcomm Inc is yet to win China’s nod to buy Dutch chipmaker NXP Semiconductors even as a deadline for the offer to expire is just hours away, raising the prospect the deal could be scuppered amid Sino-U.S. trade tensions.

The Art of The Deal Sends Stocks Soaring

Trump wins… again…

China was dead flat overnight…

DAX was weak following headlines around 25% auto tariffs…

While Trannies led the day, Nasdaq did its best to show that everything is still awesome…and then EU trade concesssions deal headlines sent traders into a buying panic, sending US stocks soaring…

We Have A Deal: Watch As Trump And Juncker Reveal Agreement To Avert A Trade War

There was much pessimism going into today’s meeting between US President Trump and EU Commission president Jean-Claude Juncker that any deal could be announced.

In fact, according to an analysis released earlier today by SGH Macro Advisors, hopes of anything tangible being announced are slim to none, as EU officials were dampening expectations right ahead of the widely anticipated summit over auto and trade tariffs between Trump and Juncker.

From what we understand, the EU is not coming with any “substantial offer” to Washington, but rather with some broad proposals intended to keep a dialogue alive and to avoid further escalation. EU officials are concerned about the raising of expectations last week by National Economic Council Director Larry Kudlow, and they see his comments to some extent as “bullying tactics” to pressure them into concessions in the negotiations.

And yet, according to Dow Jones and Reuters, Trump has managed to secure concessions to avoid a trade war, including agreeing to import more soybeans and lowering industrial tariffs as well as working more on LNG exports.

President Trump has secured concessions from Europe to avoid a trade war, with Europe agreeing to the following (per Dow jones):

Europeans agreed to work on more U.S. LNG exports

Europeans agree on lowering industrial tariffs

EU agrees to align regulator standards on medical products

EU agrees to import more U.S. soybeans

It was not immediately clear if auto tariffs are also included in the agreements, but stocks are surging on the news, and the January all time highs are now in sight:

Lawmaker Duped By Sacha Baron Cohen Resigns

Georgia state lawmaker Jason Spencer resigned Tuesday night after he was duped into an appearance on comedian Sacha Baron Cohen’s new Showtime series, “Who Is America.”

Spencer, a Republican, initially refused to resign after the segment aired, which features him baring his buttocks, shouting the n-word, and doing a terrible impression of a Chinese tourist. He changed his tune on Tuesday after harsh rebuke, with a terse resignation letter which reads: “This email/letter is to serve as an official resignation notice to your office that I will be resigning my post effective July 31, 2018.”

Spencer appeared in a segment in which Cohen portrays an Israeli military expert who is making a video about how to mount a personal defense against potential terrorists. In one scene Cohen’s character urges Spencer to draw attention to an unfolding attack.

The lawmaker responds by shouting the n-word.

In another, Cohen says that Muslim extremists are religiously repulsed by human buttocks. He persuades Spencer to fend off an attacker by charging at him backwards ― he shouts “USA!” and “America!” ― with his bare bottom exposed. –

A Weak US Dollar Will Not Make America Great

Authored by Daniel Lacalle via DLacalle.com,

The US dollar has become the safest asset in the face of mounting evidence that the “beggar thy neighbor” policy and drowning structural problems in liquidity is coming to a close.

The reality is that the US dollar is strengthening because of the evidence of a deeper slowdown in China and the massive imbalances built by some emerging economies in the past -large fiscal and trade deficits financed with the cheap inflow of dollars-.

As the US economy improves and others face the saturation of past stimuli, it is only logical that the United States sees a high inflow of funds from abroad. And that is good. Keeps US treasury yields low, a high demand for bonds and equities, and a steady increase in capital investment into the US economy.

There are many who think that the US economy will not accept a strong dollar.

Allow me to doubt it. The US only exports around 10% of GDP and less than 30% of the profits of the S & P 500 come from exports.

In the past nine years, devaluing and lowering rates has hurt the middle class, savers, workers, and high productivity companies. Those that voted for the current administration to make a drastic change on the past mistakes.

A devaluation policy hurts more Americans than it helps. Devaluation is simply stealing from your citizens’ savings and disposable income.

A strong US dollar reduces inflationary pressures and keeps interest rates low. Both effects are positive for savers, workers, and families as the economy strengthens and wages improve.

…

Google’s Costly Traffic Jam Eases

The internet giant’s strong results help offset growing worries about costs and political risks.

China Stimulates Again, but Don’t Expect Fireworks

China analysts have spent the past three months arguing about whether Beijing will stimulate the economy as growth slows. The answer is now apparent, but what does that mean for markets?

Employees don’t work as hard if they think they earn less than their co-workers

Knowing what your boss earns has a very different effect on productivity.

Bloom Energy will be profitable this year, CEO says after IPO

Wall Street seemingly could not get enough of Bloom Energy Corp. on Wednesday, with shares rising as much as 50% after an initial public offering that Chief Executive and founder K.R. Sridhar credited to his company’s ability to explain its purpose.

The Margin: Elon Musk allegedly silences one of his short-selling critics by calling his boss

He’s growing more and more irritable. He starts nasty Twitter feuds. He lashes out at the media when they don’t lavish him with praise. In the eyes of his most staunch supporters, he can do no wrong. And for the haters, he’s beyond redemption.