Written by Gary
US equities mixed at the noon hour (SPY +0.01%). DOW flat while small caps tread carefully in the green.
Here is the current market situation from CNN Money | |
 | North and South American markets are mixed. The S&P 500 is higher by 0.02%, while the IPC is leading the Bovespa lower. They are down 0.73% and 0.59% respectively. |
Traders Corner – Health of the Market
Stocks to pop another 10% or more from here despite trade war, rising rates, says Street’s biggest bull Dwyer
Grocer Aldi targets nearby rivals in its bid to boost its US footprint
Dropbox has been on a wild ride, and one market watcher sees it surging nearly 40 percent
Fox earnings beat estimates as TV, film revenues grow
Oil regains some poise after 3 percent drop
Saudi Arabia reassures Canada on oil supply in row over jailed activists
Mexico says must finish NAFTA talks with U.S. before Canada rejoins
U.S. labor market tightening; inflation steadily rising
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| Tech stocks take Nasdaq closer to recordThe Nasdaq inched toward a record on the back of high-flying technology trio of Apple, Amazon and Microsoft, while gains in the Dow and the S&P 500 were limited as energy shares fell. |
| Samsung unveils gaming-friendly Galaxy Note 9 to boost salesSamsung Electronics Co Ltd launched the Galaxy Note 9 “phablet” in New York on Thursday, promising better battery life and quick cooling to attract gamers and rejuvenate flagging sales. |
| Viacom shares gain as ‘Mission Impossible’ powers ParamountViacom Inc’s quarterly profit beat analysts’ estimates and the media company forecast a strong current quarter, boosted by the success of its movie “Mission: Impossible – Fallout”. |
| Tribune Media files suit, terminates Sinclair merger dealTribune Media Co said on Thursday it had terminated a $3.9 billion deal to be acquired by Sinclair Broadcast Group and was suing Sinclair for breach of contract, after regulators objected to the acquisition that was supported by U.S. President Donald Trump. |
| Perrigo plans to separate prescription pharma businessPerrigo Co Plc said on Thursday it would separate its generics prescription business, which has been a drag on results, to focus on consumer healthcare following a strategic review, sending the drugmaker’s shares down about 8 percent. |
| J.C. Penney eyes Babies ‘R’ Us customers with addition of more baby productsJ.C. Penney Co Inc will stock more baby products at outlets in the vicinity of stores shut by Babies ‘R’ Us’, taking advantage of the recent collapse of parent Toys ‘R’ Us. |
| GM squeezes pounds and pennies to attack Ford’s pickup profit machineWhen General Motors Co engineers were developing the 2019 Chevrolet Silverado and GMC Sierra pickup trucks, some of them joined public tours of Ford Motor Co’s Dearborn, Michigan factory to watch aluminum-bodied F-series trucks go down the assembly line. |
| Global trade losing momentum in third quarter, WTO indicator showsLower export orders and car sales are likely to slow world trade growth in the third quarter, the WTO said, as a global tariff crusade by U.S. President Donald Trump to protect American jobs begins to bite. |
| The ‘Friends’ trend: ’90s fashion revival for back-to-school seasonUrban Outfitters Inc , American Eagle Outfitters Inc and other retailers are filling stores with styles from the 1990s in a bet that fanny packs, chunky-soled sneakers and high-waisted “mom jeans” will lift back-to-school sales. |
| “Step Back From The Brink” UN Warns As Major War Looms After Overnight Gaza AirstrikesIn the third serious flare-up of violence in the last month, a major escalation began between Israel and Hamas militants in Gaza overnight, which involved approximately 180 projectiles fired towards Israeli territory, and more than 150 Israeli airstrikes on targets inside Gaza, according to statements by the Israeli Defense Forces (IDF). A number smaller scale and sporadic tit-for-tat incidents led to the start of the late Wednesday night massive exchange of rockets began Monday, when an Israeli tank fired on a northern Gaza Hamas border post, killing two Hamas members. Israel claimed Hamas had fired on Israeli positions, while a Hamas statement said the fighters had merely been involved in a military exercise and not an act of aggression against Israeli soldiers. Another Israeli tank attack followed on Wednesday in response to what the IDF described as shots fired at civilian workers constructing an underground barrier on the Israeli side of the border wall. After sunset, the first significant barrage of rocket and mortar fire was unleashed from Gaza on southern Israel, sending civilians in the town of Sderot and other close southe … |
| A Bearish Market Warning From The Tech Bubble Is BackAuthored by @pattidomm via CNBC.com, Stocks are moving out of step with each other the most they have since just before the end of the tech bubble, and with stock valuations at a high, that could be a warning.
In January 2001, before tech went bust, stocks diverged as growth flourished. Everything named dotcom boomed, but old line industries puttered. There hasn’t been such a divergence between stocks in the overall market since then, not even during the Great Recession. The current market’s low correlation comes as valuations soar. At 22, as measured by the trailing price-to-earnings multiple, valuations are higher than they’ve been 84 percent of the time since 1952.
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| Tesla Tumble Erases “Going Private, Funding Secured” GainsBut, but, but… $420??!!
Did Elon ‘PT Barnum’ Musk just jump the shark? |
| Sudden Emerging Market BloodbathSlowly at first, then all at once – Emerging Market currencies are crashing across the board… The dead cat bounce is over for EM FX…
The plunge is led by Turkey’s Lira (not helped by Fitch warnings of further downgrades)
The Rand, Peso (Argentina and Mexican), Ruble, and Real are all getting clubbed by a baby seal… |
| Not the Streaming Deal ‘Star Wars’ Fans Are Looking ForWalt Disney’s streaming service could have a troublesome absence when it launches late next year. |
| June 2018 Headline Wholesale Sales SlowWritten by Steven Hansen The headlines say wholesale sales were down month-over-month with inventory levels remaining elevated. Our analysis also shows an acceleration of the rate of growth for the rolling averages.
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| NewsWatch: Tesla’s stock is the company’s greatest marketing tool — what happens when it goes away?The electric-car maker’s shares help create buzz, which drives demand for its vehicles, says Cullen Roche. |
| The Wall Street Journal: Samsung introduces not-so-new Galaxy Note 9Samsung’s new Galaxy Note 9 unveiled Thursday looks much like last year’s model, reflecting slowing innovation in smartphones that has contributed to a historic dip in industry sales. |
| Next Avenue: What Congress is doing to boost your retirement savingsThere’s a flurry of activity in the Capitol to help Americans save for retirement and for emergencies. |
Overnight strikes on Gaza. Image source: AFP/Getty
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