Written by Gary
US three major Wall Street indexes opened higher (SPY +0.1%), after Apple’s strong earnings boosted technology companies and helped ease concerns over future growth of the tech sector.
Here is the current market situation from CNN Money | |
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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.
What Is Moving the Markets
| Here are the headlines moving the markets. | |
 | Exclusive: Nissan close to settling dispute with India over unpaid incentivesNissan Motor Co and authorities in an Indian state are close to settling a dispute over which the Japanese carmaker initiated international arbitration seeking more than $729 million in unpaid dues and damages, sources told Reuters. |
| Sanofi, Novartis latest to stockpile drugs in case of no-deal BrexitSanofi and Novartis said on Wednesday they planned to increase stockpiles of medicines Britain in preparation for potential disruption if the UK crashes out of the European Union without a deal. |
| Wall Street opens higher as Apple lifts tech stocksU.S. stocks opened higher on Wednesday after Apple’s strong earnings boosted technology companies and helped ease concerns over future growth of the tech sector. |
| Activists renew call for structural change as Thyssenkrupp lowers guidanceActivist investors Cevian and Elliott have renewed calls for structural changes at ThyssenKrupp after the German industrial conglomerate cut its earnings guidance late on Tuesday. |
| Scolding from Chinese state media dampens Apple’s earnings cheerApple Inc may have just notched up its fourth straight quarter of double-digit revenue growth in China but the shine quickly came off that stellar performance as Chinese state media stepped up a tirade of criticism against the smartphone giant. |
| Auto suppliers retool to chase electric vehicle bonanzaIn what seems to be a magic trick, Dele Fayemi runs a batch of batteries in a beaker of boiling water – a physical impossibility that should cause a short circuit. |
| Samsung borrows from Chinese playbook in battle for India’s smartphone marketSometimes keeping ahead of the game means learning some tricks from rivals – a strategy Samsung Electronics Co Ltd hasn’t been too proud to adopt in India where Xiaomi Corp and other Chinese brands have made hefty inroads. |
| Skills shortage makes it harder for VW to meet new rules of the roadVolkswagen warned that a shortage of engineers is hampering efforts to get its cars to meet new anti-pollution rules, clouding its sales outlook and overshadowing a forecast-beating 23 percent rise in underlying operating profit. |
| Global factory growth slowing; China-U.S. trade war bitingFactory growth stuttered across the world in July, heightening concerns about the global economic outlook as an intensifying trade conflict between the United States and China sent shudders through trading partners. |
| Trump Urges AG Sessions To “Stop Dirty Democrats’ Rigged Witch Hunt Right Now”President Trump was later then normal to take to his Twitter account this morning, but nevertheless provided a triumvirate of tweets that doubled down on his views of the Russia probe and what should be done about it.
Trump began with a two-fer tweet, quoting Alan Dershowitz: “FBI Agent Peter Strzok (on the Mueller team) should have recused himself on day one. He was out to STOP THE ELECTION OF DONALD TRUMP. He needed an insurance policy. Those are illegal, improper goals, trying to influence the Election. He should never, ever been allowed to remain in the FBI while he himself was being investigated. This is a real issue. It won’t go into a Mueller Report because Mueller is going to protect these guys. Mueller has an interest in creating the illusion of objectivity around his investigation.”
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| Ron Paul: Government-Funded ‘Free’ Healthcare Is “Preposterous & Deadly”Day after day, the newly minted hordes of ‘Democratic Socialists’ proclaim “free stuff” for all as their platform to grabbing the greater fool’s marginal vote.
And finally, after Ocasio-Cortez’ embarrassing display of ignorance, Mike Shedlock notes, cost estimates for “free stuff” are pouring in. The sticker price for “Medicare for All” is shocking. “Medicare for All” sounds great. And every unthinking socialist wants it. But here’s the deal: ‘Medicare for All’ Would Cost $32.6 Trillion Over 10 Years.
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| Watch Russian Supersonic Anti-Ship Missile Destroy Mock Enemy VesselAccording to the Russian Ministry of Defence (MoD), Russian jets, including Su-34 fighters, Su-30SM, Su-24, Su-34 and Su-25 attack aircraft, participated in a series of military exercises in the Caspian Sea along with the Russian Navy Caspian Flotilla about a week ago.
In total, about ten naval ships of the Caspian fleet and about 50 aircraft were involved in the war drills. Days later, a video surfaced on social media showing a successful air-launch of a Kh-31 (Russian: Ð¥-31; AS-17 ‘Krypton’) supersonic missile by a Su-34 fighter.
The Kh-31 is a supersonic air-to-surface anti-ship missil … |
| 10Y Treasury Yield Tops 3.00% After Surprise Supply IncreaseAs we noted here, the Treasury announced it would raise the amount of long-term debt it sells to $78 billion this quarter, up from $73 billion last quarter, while launching a new two-month bill. The surprise is that whereas consensus had expected 5-year auctions to increase by $1 billion in the quarter, the Treasury will now increase the auction amount by $1bn every month in the quarter, for a total of $3 billion, which in turn will put extra pressure on the belly of the curve. And that extra supply has prompted weakness across the Treasury curve, pushing 10Y Yields back above 3.00% for the first time since The Fed hiked rates in June…
And the yield curve is steepening… |
| Bonds Need to Catch Up on the NewsThe bond-market tide may be on the turn. After weeks of inaction, 10-year Treasury yields are eyeing 3% once more. Continued momentum in the global economy could lead yields higher still. |
| July 2018 ADP Job Growth Is 219,000
ADP reported non-farm private jobs growth at 219,000. |
| MarketWatch First Take: Apple earnings show why you can expect more $1,000 iPhonesApple Inc.’s expensive iPhone X helped the company beat Wall Street’s expectations yet again this quarter, giving credence to the possibility of another higher priced iPhone this fall. |
| Earnings Results: Apple stock set for record after earnings and outlook beatIn a quarter when iPhone unit sales were of somewhat diminished importance, Apple Inc. beat earnings and revenue expectations and then delivered an upbeat view of what’s to come, sending shares toward record highs. |
| MoviePass to raise subscription fee, limit access to some films in cost-reducing measureThe new monthly fee will be $14.95, the company said. . |
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