Written by Gary
Dow rises more than 200 points after Trump says trade talk with China’s Xi went well (SPY +2.1%). Markets have not pushed through important resistance level.
Here is the current market situation from CNN Money | |
North and South American markets are broadly higher today with shares in Mexico leading the region. The IPC is up 1.86% while Brazil’s Bovespa is up 1.71% and U.S.’s S&P 500 is up 0.66%. |
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. | |
Volvo Cars taps Baidu tech to develop robotaxi for ChinaVolvo Cars has teamed up with Chinese search engine operator Baidu to develop a self-driving taxi for China, it said on Thursday, opening another frontier to secure its place in the robotaxi market while its Uber supply deal remains in limbo. | |
New York regulator grants virtual license to bitcoin ATM operatorNew Yorkers will be able to use their mobile phones to obtain bitcoin or sell it for cash at kiosks similar to ATMs in and around New York City after the state Department of Financial Services said on Thursday it has approved the virtual currency license of Coinsource Inc. | |
UBS to ramp up training, set up sexual misconduct hotlineSwiss bank UBS will expand training for staff investigating sexual misconduct claims, and introduce a confidential hotline to handle such allegations, an internal memo sent to staff seen by Reuters shows. | |
Trump comment, chipmakers power Wall Street’s third day of gainsU.S. stocks rose for a third straight day on Thursday, as industrials gained after President Donald Trump said trade talks with China were “moving along nicely”, while optimism was boosted by healthy results, especially from chipmakers. | |
Activist investor Icahn sues Dell over IPO plansActivist investor Carl Icahn sued Dell Technologies on Thursday, alleging that the computer maker did not disclose financial information related to its plans to go public by buying back its tracking stock . | |
U.S. charges financier, former Goldman bankers for 1MDBU.S. prosecutors unveiled criminal charges on Thursday against two former Goldman Sachs Inc bankers and Malaysian financier Low Taek Jho tied to the alleged theft of billions from Malaysian sovereign wealth fund 1MDB. | |
GM CEO expects Tesla to be around in the next 10 yearsGeneral Motors Co’s Chief Executive Officer Mary Barra said on Thursday she expects Tesla Inc to be around in the next 10 years, despite the electric carmaker’s troubles with turning around its operations. | |
Exclusive: Mastercard lodged U.S. protest over Modi’s promotion of Indian card networkMastercard told the United States government in June that Indian Prime Minister Narendra Modi was using nationalism to promote the use of a domestic payments network, and New Delhi’s protectionist policies were hurting foreign payment companies, a document seen by Reuters showed. | |
Stocks begin November stronger, lifted by results, trade war progressWorld equity markets began November with a broad rally on Thursday after a brutal October, boosted by strong corporate earnings and signs that a trade war between economic giants, China and the United States, could be contained. | |
State Dept Spokesperson Nauert Reportedly Trump Top Pick For UN AmbassadorFollowing Dina Powell’s “not interested” response, CNN is reporting that President Trump’s current top pick to replace Nikki Haley as UN ambasador is State Department spokesperson Heather Nauert. According to two sources familiar with his pick, CNN reports that Trump could offer Nauert the post as soon as this week. Notably, Nauert has been keeping a low profile this week after meeting with Trump on Monday. Two of her daily briefings have been conducted by her deputy. Aside from former deputy national security adviser Dina Powell, who withdrew from consideration early in the process, Trump has eyed several people to replace Haley, including Ric Grennell, the US ambassador to Germany; Jamie McCourt, the US envoy in Paris; and Kelly Craft, the ambassador in Canada. Trump has repeatedly told aides he wanted a woman to fill the role. | |
Martin Armstrong Warns Politicians Are Creating The Worst Economic Crash In HistoryAuthored by Martin Armstrong via ArmstrongEconomics.com, Politicians have totally and completely misunderstood the trends within the global economy and as a result, they are actually creating one of the worst economic debacles in history. I have explained several times that the bulk of investment capital is tied up in two primary sectors – (1) government bonds and (2) real estate. Because of income taxes, real estate has offered a way to make money in capital gains without having to pay income taxes. Money has looked to park in real estate around the world for many various different reasons as in Italy it was the escape from inheritance taxes as well as banks or in Vancouver to gain a foothold for residency fleeing Hong Kong. In Australia, there was the Super Annuation Fund which allowed people to use retirement funds for real estate. People spend more when they believe that they have big profits in their home. The recession of 2007-2010 was so bad, recording the worst of all declines since the Great Depression, all BECAUSE | |
Trump: “When I Can, I Tell The Truth”With the midterm vote less than a week away, President Trump sat down for a wide-ranging interview with ABC’s Jonathan Karl to discuss some of the more pressing issues affecting the vote. In remarks that, at times, sounded like Trump was deliberately trying to trigger Democrats and journalists who have opposed his administration at every turn. Early in the interview, Trump insisted that, if Democrats win control of the House and try to investigate his finances, he would cooperate because he has nothing to hide. “I’m an open book”, he said. But in one of the interview’s most memorable lines, Trump said that he “tries to tell the truth” when he can, while pointing out that ABC sometimes reports things about the Trump administration that aren’t necessarily truthful – a claim that went unchallenged by Karl.
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“Not For Them To Know” – Project Veritas Catches Andrew Gillum Campaign Staffer In Racist SlurAuthored by Mike Brest via The Daily Caller, Florida Democratic gubernatorial candidate Andrew Gillum is the latest to be stung by a Project Veritas undercover video. A video released on Thursday shows a campaign staffer they identify as Omar Smith using a racial slur and saying the candidate makes promises he knows he can’t keep.
He went on, saying, “Gillum is a progressive. He is a part of the crazy, crazy, crazies.” Then the undercover reporter asked how Gillum plans to pay for many of his campaign promises, Smith said he couldn’t.
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October 2018 Manufacturing Survey Growth Little ChangedWritten by Steven Hansen The ISM Manufacturing survey again marginally declined but continued in expansion. The key internals are in expansion. The Markit PMI manufacturing Index is in positive territory and was little changed. | |
Economic Report: American homeownership increases again as housing market looks for balanceThe national homeownership rate ticked up again even as home price growth moderated, a signal that some Americans have been able to take advantage of easing conditions and become owners. | |
Wayfair’s losses widen as advertising spending reaches half a billion dollarsWayfair Inc. shares take a 11.3% nosedive in Thursday trading after the company reports deeper-than-expected losses and skyrocketing advertising costs. | |
Capitol Report: Trump tweet draws Willie Horton comparison from top Republican in FloridaPresident Donald Trump fed the fear machine, once again, on Wednesday when he tweeted a pro-GOP ad beginning with “illegal immigrant, Luis Bracamontes, killed our people!,” before cutting to images of the caravan that’s quickly becoming the thrust of his approach to the midterms. |
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