Written by Gary
DOW hits all-time intraday high (26,771.92) (SPY +0.01% flat). WTI crude trading in the mid 75 handle.
Here is the current market situation from CNN Money | |
North and South American markets are mixed today. The Bovespa is up 3.54% while the S&P 500 gains 0.05%. The IPC is off 0.71%. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
Regulator says South Africa’s Eskom can recover $2.25 billion over four yearsSouth African energy regulator NERSA on Tuesday gave power utility Eskom the go-head to recover 32.69 billion rand ($2.25 billion) of costs incurred over the past three years through higher tariffs over a four-year period from 2019 to 2023. | |
U.S. stocks flat as Italy worries weighU.S. stocks treaded water on Tuesday, pressured by worries of a euro zone breakup after anti-euro comments from an Italian lawmaker. | |
September a ‘tale of two hurricanes’ for U.S. new car salesMajor automakers on Tuesday posted a hefty drop in U.S. new vehicle sales for September, caused in part by a drop in sales in areas hit by Florence and a tough comparison to the previous September when consumers rushed to replace vehicles damaged by Hurricane Harvey. | |
Shell’s LNG Canada seen as tip of megaproject icebergThe launch of a massive liquefied natural gas (LNG) export project in Canada has finally fired the starting gun on a wave of plan approvals around the world, needed to avoid a supply crunch after 2020. | |
Citigroup plans to grow offshore booking center in UAE: executiveCitigroup plans to boost the United Arab Emirates’ role as an offshore booking center and is working towards a full banking license in Saudi Arabia, helping to propel its regional growth, a senior executive told Reuters. | |
Moody’s places GE ratings under review for possible downgradeCredit ratings agency Moody’s Investor Service said on Tuesday it has placed ratings of General Electric Co and its finance unit under review for a possible downgrade, a day after the conglomerate replaced its chief executive officer and announced a $23 billion charge. | |
Amazon raises minimum wage to $15, urges rivals to followAmazon.com Inc said on Tuesday it would raise its minimum wage to $15 per hour for U.S. employees from next month, seeking to head off criticism of working conditions at the world’s second most valuable company. | |
Senator Bernie Sanders applauds Amazon for wage hikeU.S. Democratic Senator and prominent Amazon critic Bernie Sanders praised the company’s move to increase minimum hourly wages to $15 on Tuesday and said other companies should follow its lead. | |
Italy’s Enel names Nicola Cotugno chief of Brazil operationsItalian utility Enel SpA on Tuesday named Nicola Cotugno as the country manager for its Brazilian operations, replacing Carlo Zorzoli, who will head global business development at Enel’s green power unit in Italy. | |
“Hero” Survivors Who Confronted Jeff Flake Work For Soros-Funded NonprofitOutgoing Arizona Senator Jeff Flake has insisted that his last-minute decision to demand that the FBI reopen its background check investigation into Trump SCOTUS nominee Brett Kavanaugh wasn’t inspired by a pair of young women who accosted him in the halls of the US Capitol and loudly berated him with tear-jerking stories of sexual abuse. But the timing of Flake’s change of heart is certainly curious, and the liberal press has widely heralded the two young women has “heros” for helping to force a delay of Kavanaugh’s confirmation by at least another week. But one thing the progressive press hasn’t reported is that the two young women weren’t merely concerned citizens speaking truth to power. The reality is that Ana Maria Archila and Maria Gallagher are both professional political activists employed by the Center for Popular Democracy. And guess who finances the CPD? That’s right… According to a report in the New York Post, the CPD is financed primarily by George Soros’ Open Society foundation, the massive non-profit that supports groups fighting on behalf of the billionaire investors’ political agenda across Europe and the US. Tha … | |
Bubbles And ZombiesAuthored by John Coumarianos via RealInvestmentAdvice.com, They say nobody rings a bell at the top of the market. But whether this is the top or not, two prominent market observers and historians, Robert Shiller and Edward Chancellor, are expressing concern. First, Shiller warns readers not to take big increases in earnings too seriously because earnings are volatile. Everyone knows that stock prices have risen dramatically since 2009. A $100 investment in the S&P 500 in 2009 has grown to nearly $400 at the end of August 2018. But Shiller reminds us that earnings have grown dramatically too. In fact, “real quarterly S&P 500 reported earnings per share rose 3.8-fold over essentially the same period, from the first quarter of 2009 to the second quarter of 2018,” according to Shiller. Prices, in fact grew a bit more slowly than earnings since the end of the crisis. So should we think stocks are reasonably priced since earnings have grown at the same pace as prices? Not s … | |
FBI Interviews Three Kavanaugh Witnesses Who Don’t Remember Ford’s Mystery Groping PartyUpdate: According to AP, Mark Judge’s lawyer confirms that The FBI’s interview has now been completed. * * * It would seem the Democrats had better quickly switch the Kavanaugh narrative back to him being an immature teenage drinker quickly as The Washington Post reports that, according to sources, three witnesses whom Christine Blasey Ford alleges were at the party in her testimony have told The FBI that they do not recall the gathering. The FBI has talked to alleged party guests Patrick J. Smyth, Mark Judge and Leland Keyser:
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Uranium One: FBI Refuses To Release Three-Dozen Secret Memos Involving Clintons, Russia And ObamaThe FBI has refused to declassify 37 pages of materials related to the Uranium One deal, citing national security and the privacy issues, reports The Hill’s John Solomon. The documents are thought to contain information regarding then-Secretary of State Hillary Clinton’s involvement, as well as the Obama administration’s knowledge of the controversial deal. The existence of the documents became known after a recent Freedom of Information Act (FOIA) release of related material contained an entry entitled “Uranium One Transaction.” The publicly available portion includes benign material, such as public letters from members of Congress who demanded information on the Uranium One approval.
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Something Happened at Pfizer?The other CEO announcement on Monday wasn’t quite as exciting. | |
August 2018 CoreLogic Home Prices Up 5.5% Year-over-YearWritten by Steven Hansen CoreLogic’s Home Price Index (HPI) shows that home prices in the USA are up 5.5 % year-over-year year-over-year (reported up 0.1 % month-over-month). CoreLogic HPI is used in the Federal Reserves’ Flow of Funds to calculate the values of residential real estate. The quote of the day was in this data release:
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Key Words: Billionaire investor predicts huge things for Tesla in the coming yearsWhile Tesla’s stock continues its run of extreme volatility and short-sellers squeal in giddy anticipation that their bets are finally about to pay off, one major shareholder couldn’t be more optimistic about the company’s future. | |
The Ratings Game: GE stock has hit bottom after new CEO Culp’s hiring, analyst saysGE stock pulls back after the previous session’s sharp climb, but RBC Capital analyst Deane Dray turns bullish, enough so to suggest prices likely bottomed. | |
Futures Movers: Oil eases back from 4-year highs with data expected to show a weekly rise in U.S. crude suppliesOil futures head lower Tuesday, a day after reported declines in Iranian exports contributed to a rise in prices to their highest level in nearly four years. Investors await weekly data that are expected to reveal a second straight climb in U.S. crude inventories. |
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