Written by Gary
The Nasdaq remains in negative territory at the noon hour (SPY -0.01%)and the SP 500 is flat. WTI crude slips 1 point from the 71 handle made this morning.
Here is the current market situation from CNN Money | |
![]() | North and South American markets are mixed. The IPC is higher by 0.54%, while the Bovespa is leading the S&P 500 lower. They are down 1.94% and 0.03% respectively. |
Traders Corner – Health of the Market
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. | |
![]() | United Tech to pay $14 million for illegal foreign payments: U.S. SECUnited Technologies Corp will pay $13.9 million to settle charges it made illegal payments or provided trips and gifts to officials from Azerbaijan, China, Kuwait, South Korea, Pakistan, Thailand and Indonesia in order to obtain business, the top U.S. securities regulator said on Wednesday. |
![]() | Boeing 737 recovery plan ‘taking hold’ after factory snarl: CEOBoeing expects to deliver roughly as many 737 narrowbody jetliners in September as the company delivered in August as it works to bounce back from a manufacturing logjam triggered by supplier delays, its chief executive officer said on Wednesday. |
![]() | Mexico must be ready for bilateral U.S. trade deal: ministerMexico expects U.S.-Canada talks on trade to yield an agreement, but Mexico must be ready to pursue a bilateral trade deal with the United States if Ottawa and Washington do not come to terms, Mexican Economy Minister Ildefonso Guajardo said on Wednesday. |
![]() | Online firms face EU fine if extremist posts stay up over an hourThe European Union’s chief executive on Wednesday proposed hefty fines on Google, Facebook, Twitter and other online platforms if they fail to remove extremist content within one hour. |
![]() | Macy’s to hire 80,000 for holiday rush, boost online staffingMacy’s Inc said on Wednesday it would hire 80,000 temporary workers for the holiday season, in line with last year’s initial hiring, and deploy more hands to cater to the avalanche of online orders expected in the shopping period. |
![]() | Trade optimism, energy stocks lift Dow; tech slide hits NasdaqThe Nasdaq fell on Wednesday, weighed down by a drop in Apple and other companies on fears of further regulation, while a rise in energy stocks and a report of fresh U.S.-China trade talks helped keep the S&P afloat and boosted the Dow Industrials. |
![]() | Global stocks look for direction in trade strife, oil prices leapAn index of global stocks rose on Wednesday, helped by a report that Washington is proposing a new round of trade talks with Beijing and resurgent oil prices pumping up energy names. |
![]() | Blackstone, Centerbridge consider joint bid for Santander HQ in Spain: sourcesU.S. investors Blackstone and Centerbridge are considering a 3 billion-euro ($3.5 billion) offer for Banco Santander’s headquarters in Madrid, two sources with knowledge of the matter said on Wednesday. |
![]() | VW ex-CEO, Bosch CEO won’t testify in Stuttgart trial: judgeFormer Volkswagen (VW) Chief Executive Martin Winterkorn and Bosch CEO Volkmar Denner are no longer expected to testify in a trial brought against VW’s main shareholder Porsche SE by investors, according to a judge. |
![]() | Top Tennis Umpires May Unionize, Boycott Serena WilliamsTop tennis umpires are reportedly banding together to consider boycotting Serena Williams, after she responded poorly to a late game penalty in last weekend’s US Open women’s final, according to the Washington Post. The umpires are also considering the formation of a union according to a Tuesday report, “in part because they are not allowed to discuss specific matches.”
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![]() | Hungary’s Orban Slapped With Unprecedented EU Censure Over Claims Of “Authoritarian Rule”The forint and Hungarian stocks weakened on the news that Hungarian Prime Minister Viktor Orban has been hit by an unprecedented European Union censure for which his government now faces the threat of sanctions by fellow EU member states. On Wednesday members of European Parliament voted on the move as a result of what EU lawmakers say is a breach of the European bloc’s values and laws and eroding democratic standards, and amidst accusations Hungary is now an “autocracy”. The rebuke was passed by 448 votes to 197. Meanwhile Orban bit back ahead of the EU censure vote, saying before Parliament the planned move “insults the honor of the Hungarian nation” and was “a slap in the face”; and the controversial prime minister further cast the whole charade is an attempt to “blackmail” Hungary into bowing to EU pressures to soften its hard line stance on the migrant issue. The rare discipl … |
![]() | Here’s Everything You Need To Know About Wednesday’s Apple Product LaunchApple is still riding high after adding more than $160 billion to its market cap since the beginning of August, a sum that vaulted the once-bankrupt consumer-tech giant past the $1 trillion valuation mark, cementing its status as the world’s most valuable publicly-traded firm. So, with its eye firmly fixated on the prize, the company is reportedly preparing to unveil its latest batch of three new iPhone models that, according to Bloomberg, will represent the most expensive offerings that the company has ever introduced. And when Apple CEO Tim Cook takes the stage on Wednesday for the company’s annual product launch, analysts will already be looking ahead to the year-end holiday sales season. While smartphone sales increased by a meager 2% last quarter, analysts widely expect that Apple, which commands an army of dedicated consumers, won’t disappoint, as Deutsche Bank’s Jim Reid humorously explains.
Looking … |
![]() | Jamie Dimon Backpedals; Regrets Mocking Trump’s IQ, Inheritance “From Daddy”Update: Dimon now says he regrets his remarks, stating “I should not have said it. I’m not running for president. Proves I wouldn’t make a good politician. I get frustrated because I want all sides to come together to help solve big problems.”
*** Jamie Dimon thinks he could beat Donald Trump in an election, telling a New York audience “I think I could beat Trump… because I’m as tough as he is, I’m smarter than he is,” adding “I can’t beat the liberal side of the Democratic party,” reports CNBC. |
![]() | Jack Ma’s Retirement Is a Sign Alibaba’s Heyday May Have PassedDespite the fabled co-founder’s retirement, Jack Ma will still have influence at Alibaba. But the real question for investors is whether his departure means the company’s best days are behind it. |
![]() | CBS After MoonvesLes Moonves’s departure from CBS, and the deal with National Amusements, ends a messy chapter for the company, but there are still important issues to consider before CBS gets an all-clear. |
![]() | The Fed: Fed’s Brainard says an inverted yield curve won’t get in way of rate hikesA key Federal Reserve official on Wednesday said that an inverted yield curve would not necessarily point to an imminent recession, despite its historical track record in doing so. |
![]() | Project Syndicate: Your crypto ‘stable coin’ isn’t tethered to anythingBarry Eichengreen explains why stable crypto-coins aren’t stable at all. |
![]() | The Tell: New York replaces London as top global financial center and Brexit’s to blame: surveyLondon is no longer at the top of global financial centers and Brexit is to blame. Instead, New York City took the crown, according to the Global Financial Centres Index. |
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