Written by Gary
US stocks post mixed finish amid weak tech, financial sectors (SPY +0.02% flat). Markets not impressed with new iphones.
Todays S&P 500 Chart
Here’s everything Apple just announced, including the new iPhones
Apple adds heart monitoring to Apple Watch
CBS: ’60 Minutes’ executive Jeff Fager is out because of violating policy
US in early stages of proposing new trade talks with China in the near future
Here are the headlines moving the markets. | |
![]() | Brent reaches $80 a barrel after fall in U.S. crude stocksOil futures rose on Wednesday, with Brent reaching $80 a barrel, after a larger-than-expected drop in U.S. crude inventories and as U.S. sanctions on Iran added to concerns over global oil supply. |
![]() | Volvo shows off self-driving, electric truck with no cabSweden’s Volvo, the world’s second-biggest truck maker, presented a new self-driving electric truck on Wednesday, which it said should help respond to the boom in ecommerce and a shortage of freight drivers. |
![]() | Tesla investor says SEC asked it about ‘funding secured’ tweetTesla Inc’s biggest institutional investor said on Wednesday it was questioned by U.S. securities regulators about Elon Musk’s now-abandoned plans to take the electric carmaker private and that the chief executive needed help running the company. |
![]() | U.S. officials have reached out to China for new trade talks: sourcesThe Trump administration has reached out to China for a new round of trade talks as it prepares to activate punitive U.S. tariffs on $200 billion worth of Chinese goods, two people familiar with the matter said on Wednesday. |
![]() | Apple debuts biggest iPhone yet, health-oriented watchApple Inc introduced its largest iPhone ever and a new line of watches that can detect heart problems on Wednesday as it looks to get users to upgrade to more expensive devices in the face of stagnant global demand for smartphones. |
![]() | As Trump embraces more tariffs, U.S. business readies public fightAfter months of waging a behind-the-scenes war against President Donald Trump’s trade tariffs that have escalated far beyond what business groups once imagined, more than 60 U.S. industry groups are launching a coalition on Wednesday to take the fight public. |
![]() | 60 Minutes Jeff Fager leaving CBS after reports of inappropriate behaviorThe executive producer of the CBS television program “60 Minutes,” Jeff Fager, is leaving CBS News, according to a company memo on Wednesday, amid reports of inappropriate behavior. |
![]() | U.S. incomes rose but inequality widened in 2017: dataThe median U.S. household income rose for a third straight year in 2017 to the highest on record since 1967 by one measure, but the gap between white- and non-white households widened, government data showed on Wednesday. |
![]() | Wall Street dips with Apple, other tech sharesU.S. stocks edged lower on Wednesday, weighed down by a decline in Apple as it unveiled larger iPhones but made just minor changes to its offerings, and other technology shares. |
![]() | Stocks, Dollar Sink As Goldman Suffers Longest Losing Streak In HistoryGreatest economy ever and some record losing streaks… Headlines on possible US-China trade talks sparked a bid in stocks, but that faded quickly as investors (and machines) remembered the last talks 2 weeks ago ended fruitless… Apple’s product presentation saw Fitbit battered…and AAPL shares slide at the lack of innovation… Semi stocks continued to slide, breaking below the 200DMA before bouncing back t … |
![]() | How Long Until The S&P Doubles From Here And What Will Cause It To Do So?Submitted by Nick Colas of DataTrek Research S&P 6000: Not If or When, But How: The S&P 500 has more than doubled in the past decade, outpacing every other major equity market around the world. In that observation lays the explanation for how it could double again in the next 10 years. History says it will not be Apple or Amazon that gets us there. It will be companies that are not yet public or even not yet created. Today we’re going to ponder a long term question: “how long will it take for the S&P 500 to double from here and what will cause it to do so?” We got to thinking about this question in the wake of all the commentary around the Lehman bankruptcy a decade ago. Much of it reads like a triumph of buy-and-hold investing, given that US equities are 130% higher since the unofficial start of the Financial Crisis and also sit near all time highs just now. Fair enough, but it is important to know that the US experience is absolutely unique in this regard. Consider how the rest of the world has done in the last decade or longer: The Hong Kong Hang Seng Index is currently 16% below its 2007 all-time peak. The Shanghai Composite trades for less than half its October 2007 peak right now. The MSCI Emerging Markets Index sits 26% lower than its 2008 highs. The UK FTSE 100 is only 10% higher than its 2007 peak and 13% higher than its prior top in 2000 (i.e. you’d have done better in bonds). The German DAX Index is 50% higher on a price basis from its 2007 peaks, a 4% CAGR but nowhere near the US experience. The French CAC 40 Index saw its all time high in 2000, and the Italian MIB Index is off by more than 50% from its 2007 all time highs. The Japanese Nikkei 225 is still some 40% below its all time high from 1989, and currently sits at the same levels as 1996. … |
![]() | “Leaking Like Mad”: FBI-DOJ-MSM Collusion Went Far Deeper Than Previously KnownThe FBI’s coordination with the mainstream media surrounding the 2016 US election – a “media leak strategy” which was first first revealed Tuesday, goes far deeper than first reported, according to Fox News, which obtained “new communications between the former lovers.” A December 15, 2016 email appears to discuss a “political” leaking operation, in which others were “leaking like mad” amid the Trump-Russia probe.
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![]() | Tesla’s Largest Investor Has Spoken To The SEC, Says Musk “Needs Help” As Another Tesla Exec FleesIn a potentially ominous development for Elon Musk, Tesla’s biggest institutional investor, Baillie Gifford, said that it had spoken to the SEC about Elon Musk’s plans to take the electric carmaker private and told Reuters that the chief executive needs help running the company. “He needs help, and I mean that psychologically as much as practically,” said asset manager Baillie Gifford’s James Anderson, the fund manager of Scottish Mortgage Investment Trust, which owns 7.72% of Tesla’s outstanding shares. Anderson told Reuters he has talked with Musk about the idea of bringing in another executive, something analysts have been calling for amid a broader appeal for Tesla to add a chief operating officer or other new blood to top management. Anderson also said that Musk told him he was “getting there” on the idea of accepting more help in running the company. The asset manager who previously complained about Musk’s tweeting, also said that he had suggested to Musk his tweets are “not a great thing” and added that the firm had been talking to the SEC about Musk’s proposal and financing claims. “I don’t know what they’ll do with him, but there’s no implication that we’ve done anything wrong,” Anderson said in an interview at the firm’s London off … |
![]() | 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. |
![]() | August 2018 Beige Book: Reading Between The Lines – Rate Of Economic Expansion Improved
The consolidated economic report from the 12 Federal Reserve Districts (Beige Book) stated “economy expanded at a moderate pace”. The previous report stated “10 of the 12 Federal Reserve Districts reporting moderate or modest growth”. |
![]() | Bond Report: Treasurys see past supply test as traders look ahead to consumer inflation dataTreasury yields fell Wednesday as investors digested a key debt auction, suggesting healthy appetite for yields at current levels. |
![]() | The Fed: Fed’s Brainard says an inverted yield curve won’t get in way of rate hikesA key Federal Reserve official says that an inverted yield curve would not necessarily point to an imminent recession, despite its historical track record in doing so. |
![]() | Economic Report: Fed’s Beige Book finds pockets of weaker growthThree of the Fed’s 12 districts report somewhat weaker growth in August, according to the central bank’s latest Beige Book report. |
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