Written by Gary
The SP 500 and the Nasdaq edged up to record highs for the third consecutive session. Nasdaq Composite up by more than 0.1% as Canada takes trade spotlight.
Todays S&P 500 Chart
The Market in Perspective
Here are the headlines moving the markets. | |
Tesla wins court case against Ontario government over rebate cancellationA Canadian court has ruled in favor of Tesla Inc after the electric carmaker challenged the province of Ontario’s wind-down of an electric vehicle rebate. | |
Canada rejoins talks to stay in NAFTA, deal possible this weekCanada’s top trade negotiator joins her Mexican and U.S. counterparts in Washington on Tuesday in a bid to remain part of a revamped trilateral North American trade pact, as U.S. officials expressed optimism a deal could be reached this week. | |
Trump’s U.S.-Mexico trade deal meets bipartisan skeptics in CongressPresident Donald Trump’s bilateral trade deal with Mexico ran into questions, on substance and procedure, from both parties in the U.S. Congress on Tuesday, with Democratic Senate Leader Chuck Schumer saying the pact faces “serious legal concerns.” | |
Altice files opposition to T-Mobile and Sprint mergerU.S. cable TV provider Altice USA Inc called for regulators to intervene in the proposed merger between T-Mobile US Inc and Sprint Corp , in a filing published on Tuesday. | |
U.S. banking regulator kicks off rewrite of community lending rulesA federal banking regulator said on Tuesday it will begin soliciting input on decades-old rules on bank lending in low-income communities, kicking off a long awaited and potentially contentious rulewriting process. | |
Barnes & Noble is sued by ex-CEO over terminationThe former Barnes & Noble Inc chief executive who was fired last month for alleged policy violations sued the bookseller for breach of contract and defamation in connection with his sudden termination after just 14 months on the job. | |
Canada’s Trudeau says he will defend dairy farmer protections in NAFTACanadian Prime Minister Justin Trudeau said on Tuesday his position on the supply management system that protects Canada’s dairy farmers has not changed and he will defend it as Canada works to renew the NAFTA trade deal with the United States and Mexico. | |
Wall Street edges up as Canada takes trade spotlightThe S&P 500 and the Nasdaq edged up to record highs for the third consecutive session on waning trade jitters that have vexed the markets for much of the year. | |
Google ties up with Indian lenders in bid to woo new usersAlphabet Inc’s Google said on Tuesday it is partnering with a handful of Indian banks to bring quick loans to the masses, as it aims to woo tens of millions of new internet users in the country to its digital payments services. | |
Stocks Flat, VIX Up As Emerging Market Rout ReturnsRecord-er and Record-er… China stocks limped lower overnight but ended unch thanks to a late surge… But US equities could not hold a solid momo ignition no matter what… With cash equities sliding into the red near the close… (Nasdaq was the day’s leader, and Trannies the laggard) | |
Peter Thiel Prefers Trump’s “Rude” Honesty To Other’s “Beautiful Lies” About World IssuesResponding to a question asked by David Velez, the chief executive officer of Nubank, a Brazilian fintech company backed by Thiel’s Founders Fund, during an entrepreneurship event in Sao Paulo, Brazil; billionaire venture capitalist Peter Thiel is not ready to give up on defending President Donald Trump just yet. Bloomberg reports that the PayPal and Palantir co-founder praised Trump’s honesty, adding that unlike other Republican presidential hopefuls from the 2016 election, he isn’t a “zombie” and was the only candidate who addressed what Thiel considers politics’ biggest problem: political correctness.
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Can The US Bring Iranian Oil Exports To Zero?Authored by Gregory Brew via Oilprice.com, The U.S. wants Iran’s oil exports to drop to zero, according to a recent statement by National Security Advisor John Bolton. The question is: can the U.S. pull it off? The pressure has been on Iran’s customers since May, to cut their purchases of Iranian oil and freeze out the oil producer, OPEC’s third largest, from the world oil market. The U.S. is re-imposing sanctions on Iran following the U.S. withdrawal from the 2015 nuclear deal, and has threatened secondary sanctions on any country that continues to buy oil from Iran. The campaign has proven effective thus far. In the first half of August, Iran’s oil exports fell by 600,000 bpd, plunging from 2.32 million bpd to 1.68 million bpd. Iran’s exports have been falling all year, and reached their | |
Print-pocalypse: Pittsburgh Becomes Largest City Without A Daily Print NewspaperPittsburgh’s last remaining daily newspaper, the 232-year-old Pittsburgh Post-Gazette, notified readers that it is discontinuing publication of its Tuesday and Saturday newspapers as it prepares for a digital transition, said The Hill. The Post-Gazette had announced plans in June to consolidate the paper from seven days a week to five days, as the industry as a whole continues to shrink. The Post-Gazette, which dates back to 1786, is following a trend that we warned about earlier this month, in which, newspapers around the country are collapsing as the print-apocalypse expands.
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Why Markets Rallied on Trump’s Trade DealThe bilateral trade deal with Mexico and any subsequent agreement with Canada may create some frictions for companies and consumers, but it is a relief compared to what might have been. | |
In One Chart: The media-bias chart that led to Trump’s threat to regulate GoogleIf this Trump vs. Google thing blows up into something more than just another presidential rant — and it might, considering the White House is “taking a look” at it — then one day we can perhaps reminisce about how it all started with this chart: | |
The Moneyist: I paid my boyfriend’s rent and bills to improve his credit score—then he bought a house without telling meThis New Jersey woman wonders whether her partner is using her for a mortgage. | |
Bond Report: 10-year, 30-year U.S. government debt yields hit 2-week highTreasurys came under pressure, pushing yields higher, on Tuesday amid reports that Germany was contemplating extending financial aid to Turkey, which is in the throes of currency crisis. |
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