Written by Gary
US market’s bull market looks back on track (SPY +0.2%), thanks to Amazon.com , Alphabet and other high-flying technology and consumer discretionary companies.
Todays S&P 500 Chart
The Market in Perspective
| Here are the headlines moving the markets. | |
 | JPMorgan undercuts discount brokerages on tradesJPMorgan Chase & Co, in a bid to lure customers from the discount brokerage industry, said on Tuesday it will begin offering free stock trades for self-managed accounts through its Chase mobile banking app starting next week. |
| S&P hits record high, equals longest-ever bull runThe benchmark S&P 500 touched a record high on Tuesday and equaled its longest-ever bull-market run, as U.S. stocks rose on encouraging earnings reports in the consumer sector and relative calm in the ongoing trade dispute between the United States and China. |
| U.S. buyback announcements slow, but on track for $1 trillion: TrimTabsU.S. companies’ taste for their own shares is set to push buybacks past the $1 trillion-a-year mark for the first time as soon as November, TrimTabs Investment Research said, even as its latest data showed the pace of new repurchase announcements slowing during the second-quarter reporting season. |
| The bull that won’t die: S&P 500 back at a record after months on iceAfter a seven-month stall, Wall Street’s bull market looks back on track, thanks to Amazon.com , Alphabet and other high-flying technology and consumer discretionary companies. |
| Uber hires CFO after lengthy search, paving way for IPOUber Technologies Inc has hired a chief financial officer, the ride-services company said on Tuesday, filling a long-standing vacancy and clearing the way for a much-anticipated initial public offering next year. |
| British outsourcer Capita poaches Go-Ahead CFO: Sky NewsBritish outsourcing company Capita has poached the finance chief of bus and train company Go-Ahead Group to become its new CFO, Sky News reported on Tuesday. |
| Instant View: S&P 500 trades above January high, sets recordThe S&P 500 stock index rose as much as 0.57 percent on Tuesday to 2,873.23, putting it just above its previous record high of 2,872.87 on Jan. 26. Bolstered by quarterly earnings reports and a rise in stock buybacks, the benchmark S&P 500 has gained over 2 percent in the past month. |
| S&P 500 sets record high, dollar slips after Trump attacks FedGlobal equity markets rose on Tuesday, with the S&P 500 setting a new record high, as strong earnings and economic growth fueled stocks, while the dollar weakened after U.S. President Donald Trump slammed the Federal Reserve for raising interest rates. |
| Facebook moves to rate users on trustworthiness: reportFacebook Inc has started scoring its users based on their trustworthiness in an attempt to fight misinformation, the Washington Post reported on Tuesday, citing a company executive. |
| Stocks & Gold Jump As Real Routed, Dollar DumpedStocks are at record highs… so… Since the headlines crossed proclaiming some low-level Chinese folk will visit DC to meet some low-level Trump administration folk – Gold and The Dow have soared together, dollar faded, and bonds modestly bid…
China stocks extended Monday’s “National Team’ gains but went flat after the lunch break…
UK’s FTSE faded a little on the day but European stocks extended recent gains too… |
| Oil Markets Are In For A Bumpy RideAuthored by Tsvetana Paraskova via Oilprice.com, The always-volatile oil market is set for even more volatility over the next two years as investors and speculators try to make sense of the conflicting market forces determining the pace of demand growth and global oil supply.
Over the past month, the two key themes have been how much Iranian oil will come off the oil market from U.S. sanctions in November, and how much demand growth could suffer with the trade wars. More recently, another theme is the emerging markets turmoil following Turkey’s crisis. Throw in all the new and much stricter International Maritime Organization (IMO) regulations on sulfur fuel oil requirements from 2020 that are expected to upend the refining and shipping markets, and oil prices are set for wild swings, industry executives and analysts say. The |
| “This Has Never Happened Before”: JPM’s Kolanovic Spots An “Unprecedented Divergence”Over the weekend, when discussing the recent bifurcation between the US and emerging markets, we noted that one shouldn’t pay attention to the “significant role played by the sharp decline in the EM tech sector, especially after the recent collapse in Tencent stock and more recently, the sharp drop in JD.com following poor earnings.” Furthermore, we said that “since the start of June, the EM tech sector has accounted for c.40% of the decline in the value of EM equities, with the Chinese internet names the primary drivers following recent regulatory challenges and poor results. And, as the chart below highlights, this has opened up a record divergence in tech performance between the US and EM. Needless to say, such a divergence is unusual: in the 18 months to the end of June this year, both the US and EM tech sectors rose by 50% in USD terms. Since then, the EM tech sector is down 6%, while its US counterpart up by 5%.”
We concluded that this “record divergence” is bad news for EM bulls, because looking ahead, with the top 5 stocks in EM all tech names, a stabilization in EM tech is … |
| Protesters Destroy 105-Year-Old “Silent Sam” Confederate Statue At UNC-Chapel HillChaos broke out Monday night as a group of around 300 demonstrators gathered at the base of Silent Sam, a Confederate memorial statue on the University of North Carolina Campus.
After covering it in gray banners to turn it into an “alternative monument” which read, in part “For a world without white supremacy,” Silent Sam was pulled down just after 9:15 p.m.
After the statue had fallen, protesters rushed to the remains to take selfies and stomp on the 105-year-old monument which was erect … |
| Abbott Labs Is a Rare Growth Story in Health CareThe reason to buy shares in Abbott Labs is simple:The company is growing its top line faster than just about any health-care company of comparable size and since it doesn’t sell pharmaceuticals in the U.S., it is relatively insulated from regulatory risk. |
| Market Extra: This bull market may soon silence all the naysayersThings could get even more awesome for the stock market as it heads into what may be shaping up to be a very bullish season as the one month period from Tuesday’s close has been among the strongest for equities in the past 10 years. |
| Market Extra: Chicago mulls sale of debt to fill pension funding hole — here’s why it’s a bad ideaAs Chicago nears a decision on a multibillion sale of pension obligation bonds, analysts say the bonds have rarely succeeded at topping up unfunded public pensions, and are historically linked to fiscal stress and municipal debt defaults. |
| Earnings Results: Toll Brothers shares surge as luxury builder reports 30% profit riseShares of Toll Brothers rose as much as 13% on Tuesday as the luxury home builder reported a better-than-forecast 30% increase in net profit. |
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