Written by Gary
US stocks soared higher today (SPY +0.8%), with the Dow setting a course for its best day in over four months. Emerging market currencies rebounded on after China said it will hold trade talks with the US.
Todays S&P 500 Chart
Dow posts biggest jump since April after US and China say trade talks to resume
Booming Walmart, Cisco results show US economy’s strength is real and broad-based
Dow industrials end nearly 400 points higher
The Market in Perspective
Here are the headlines moving the markets. | |
Air France-KLM appoints first foreign CEO over union objectionsAir France-KLM named Air Canada executive Benjamin Smith as its new boss on Thursday, opting for an outsider to steer the airline group through a fraught stand-off with unions at its French carrier. | |
Google employees demand more oversight of China search engine planGoogle’s plan to launch a censored search engine in China requires more “transparency, oversight and accountability,” hundreds of employees at the Alphabet Inc unit said in an internal petition seen by Reuters on Thursday. | |
Turkey will emerge stronger from lira crisis despite row with U.S.: ministerFinance Minister Berat Albayrak assured international investors on Thursday that Turkey would emerge stronger from its currency crisis, insisting its banks were healthy and signaling it could ride out a dispute with the United States. | |
Global stocks, emerging market currencies rise on planned U.S.-China trade talksU.S. stocks and emerging market currencies rebounded on Thursday after China said it will hold trade talks with the United States later in August and Turkey’s lira continued its recovery. | |
Wall St. rebounds as Walmart beats, trade worries easeU.S. stocks bounced back on Thursday, with the Dow setting a course for its best day in over four months, as a series of positive earnings and waning trade jitters girded investor confidence. | |
Turkey does not wish to have problems with U.S.: foreign ministerTurkey does not wish to have problems with the United States and the two NATO allies could easily overcome their differences but not with the current U.S. approach, Foreign Minister Mevlut Cavusoglu said on Thursday. | |
USTR Lighthizer eyes NAFTA ‘breakthrough,’ Mexico urges flexibilityU.S. Trade Representative Robert Lighthizer on Thursday expressed hope a breakthrough could be made in the coming days in efforts to rework the NAFTA trade deal, though his Mexican counterpart said flexibility was needed to reach agreement. | |
Exclusive: U.S. seed sellers push for limits on Monsanto, BASF weed killerAmerica’s two biggest independent seed sellers, Beck’s Hybrids and Stine Seed, told Reuters they are pushing U.S. environmental regulators to bar farmers from spraying dicamba weed killer during upcoming summers in a potential blow to Bayer AG’s Monsanto Co. | |
Air France KLM names Air Canada executive Smith as CEOThe board of Air France-KLM named Air Canada executive Benjamin Smith as its new chief executive on Thursday, opting for an outsider to try and steer the group through a fraught stand-off with unions at its French carrier. | |
Dow Soars Most In 4 Months Because China Agrees To Talk On Trade (Again)R.I.P.
Overnight saw the world was saved by a headline…
US equity futures show the excitement the algos felt from that headline… The Nasdaq was unable to recover its losses from yesterday while The Dow and S&P did but late weakness across the big tech names went the S&P back into the red from Tuesday’s close. Nasdaq erased most of its post-Trade-Talks gains, The Dow soared 1.5%… The Dow surged all the way up to last Tues … | |
“Trump@War”: A Peek Inside Steve Bannon’s New FilmFormer White House chief strategist Steve Bannon has got all hands on deck for the upcoming midterms; launching Citizens for the American Republic (COAR) – an outside political group which will advise surrogates, generate talking points and assist with media campaigns for candidates. As part of his new campaign, Bannon – a former Hollywood producer with several films under his belt – will release a new documentary on September 9, “Trump@War,” the two year anniversary of then-candidate Hillary Clinton calling Trump voters “deplorables.” Bannon calls the November midterm election a referendum on Trump, one which could have disastrous consequences for the President should Democrats regain control of Congress. “It’s very simple to me. This is a referendum on Trump, up-or-down vote on impeachment,” he said. “This other side, they’re very motivated — and they’re motivated for one thing: They want to impeach Donald Trump.” “It’s all on the table Nov. 6,” Bannon added. “This is the re-elect. How do you use this to trigger the civil war in the Democratic party? You must win. [The midterms] have more value than the typical, ‘We’re holding the House.” Bannon spoke with Axios about the new film, which they describe as designed “to portray Trump supporters as being under siege — complete with clips of CNN’s Don Lemon, and footage of a “Make America Great Again” hat being burned.”
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Weed-Killing Carcinogen Glyphosate Found In Children’s FoodsAuthored by Mac Slavo via SHTFplan.com, The known carcinogen and infamous weed killing chemical glyphosate has just been found in breakfast foods marketed for children. A new study has discovered trace amounts of the most widely used herbicide in the country in oats, granolas, and snack bars. Concern over glyphosate has continued to grow in the United States in recent years. Although the chemical may be safe in some amounts to spray on weeds if certain safety precautions are taken, it is probably a lot more dangerous if it’s ingested by a child. Most disturbing, however, is the fact that thirty-one out of 45 tested products had levels of glyphosate that were higher than what many scientists consider safe for children. The study, which was conducted by the non-profit Environmental Working Group (EWG) found that many of the breakfast foods marketed … | |
Hackers Steal $13 Million From Bank ATMs In 28 CountriesAuthored by Joseph Jankowki via PlanetFreeWill.com, Just days after an FBI warning of the prospect of a worldwide mass hacking plot that could have millions withdrawn from bank accounts, Hackers managed to steal $13 million from ATMs across 28 countries. The cybercriminals infected cash machines of India based Cosmos Bank with malware, which allowed them to approve transactions and access client accounts, reports Yahoo News. Fake credit cards were used to drain the cash from the machines. In a confidential alert issued last Friday, the FBI had warned American banks of an imminent “cashout” attack on cashpoints around the globe. | |
Good Isn’t Good Enough at Macy’sThe department store has solid earnings and raises guidance, but that isn’t enough for investors after a big stock run. | |
Trump Today: President attacks Boston Globe after critical editorials, says ‘no rush’ on NaftaPresident Donald Trump on Thursday ramped up attacks on the media, as he hailed the strength of the U.S. dollar and told members of his cabinet he’s in “no rush” on a new North American Free Trade Agreement. | |
Why job seekers are relocating at historically low ratesThe tight labor market, soaring real-estate prices and new technology make moving for a better job less desirable. | |
Bond Report: Treasury yields tick higher after plans for China and U.S. to renew trade talksU.S. Treasurys slump on Thursday, pushing yields higher, as demand for haven assets, and thus flows into U.S. government paper, abate after reports saying China and the U.S. would resume trade talks. |
Summary of Economic Releases this Week
Earnings Summary for Today
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