31Dec2018 Midday Update: Wall Street On Track For A Positive Close Today, Anemic Volume, Wall Street Will Be Closed Tomorrow

Here is the current market situation from CNN Money

North and South American markets are broadly higher today with shares in Brazil leading the region. The Bovespa is up 2.84% while U.S.’s S&P 500 is up 0.58% and Mexico’s IPC is up 0.38%.

Wall Street falters after strong start to wrap up a rocky 2018

U.S. stock indexes faltered after a strong start on Monday in thin trading, as optimism on signs of progress in the U.S.-China trade war was offset by oil prices erasing gains in the last day of what is Wall Street’s worst year in a decade.

Trade optimism lifts stocks, though 2018 set to end with losses

Equities around the world rose on Monday, with Wall Street edging up in choppy trading as hints of progress in the trade dispute between the United States and China provided a rare glimmer of optimism in what has been a punishing end of year for markets.

‘Pooey Puitton’ purse said to irk Louis Vuitton, prompts lawsuit

A California toy company has sued Louis Vuitton to stop the French luxury goods maker from interfering with its sales of a slime-filled, poop-shaped toy purse for children, Pooey Puitton.

Oil prices slip, set for first annual drop since 2015

Oil prices slipped 1 percent on the final day of the year, en route for their first annual drop in three years as fears of a slowing global economy and emerging supply glut outweighed impending production cuts from OPEC nations.

Tesla has over 3,000 Model 3s left in U.S. inventory: Electrek

Tesla Inc had over 3,000 Model 3s left in inventory in the United States as of Sunday, automotive news website Electrek reported on Monday, citing people familiar with the matter.

Trump says ‘big progress’ on possible China trade deal

U.S. President Donald Trump said on Twitter that he had a “long and very good call” with Chinese President Xi Jinping and that a possible trade deal between the United States and China was progressing well.

U.S. companies repatriate over half a trillion dollars in 2018, but pace slows

U.S. companies have sent home over half a trillion dollars of cash they held overseas in 2018 to take advantage of tax changes, but data suggest the pace is slowing, potentially removing a key source of support for Wall Street.

Canada Goose’s first China store draws eager crowds despite diplomatic headwinds

Large crowds have been drawn to Canada Goose’s new outdoor wear store in downtown Beijing, its first in mainland China, since its opening on Friday, despite sub-zero temperatures and a chill in China’s relations with Canada.

Fed Chair Powell’s unscripted approach sets up for rocky 2019

Jerome Powell had a bumpy first year as Federal Reserve chairman when it came to talking policy, by turns spooking and comforting investors even as economic data offered increasingly mixed signals and President Donald Trump stepped up his attacks on the U.S. central bank.

The 5 Most Insane Campus Free Speech Controversies Of 2018

Authored by Grace Gottschling via Campus Reform,

This year was full of liberal elites on college campuses doing their darnedest to try to silence conservatives. The list made coming up with just five quite the tall task. But, as with anything else, Campus Reform is always up for a challenge.

That said, here are the five most insane college campus free speech controversies of 2018.

1. Gonzaga cites Christian mission in rejecting Ben Shapiro event

In November, Gonzaga University, a Christian college, refused to allow conservative pundit Ben Shapiro from speaking at the college.

Shapiro had been invited by Gonzaga’s College Republicans chapter, but was ultimately rejected from being able to speak because of the perceived likelihood of protests. The college also argued that Shapiro’s speech would go against the university’s mission statement.

“Mr. Shapiro’s appearances routinely draw protests that include extremely divisive and hateful speech and behavior, which is …

“I Had To Quit For My Sanity”: Teachers Resigning At Highest Rate Ever Recorded

Teachers and other public education employees are quitting their jobs at the fastest pace on record after roughly 10% of the industry quit over a 12 month period ending in October, according to data from the Labor Department.

While US workers overall at the highest rate since 2001 amid a tight labor market and historically low unemployment, quitting a job in education is notable since the field is known for stability and rewarding longevity, reports the Wall Street Journal’s Michelle Hackman and Eric Morath.

The educators may be finding new jobs at other schools, or leaving education altogether: The departures come alongside protests this year in six states where teachers in some cases shut down schools over tight budgets, small raises and poor conditions.

In the first 10 months of 2018, public educators quit at an average rate of 83 per 10,000 a month, according to the Labor Department. While that is still well below the rate for American workers overall—231 voluntary departures per 10,000 workers in 2018—it is …

House Democrats Settle On Strategy To Reopen Government, Deny Funding For Wall

House Democrats have decided how they are going to proceed in their attempts to reopen the government when they take control of the House Thursday, according to the Washington Post.

NEWS: House Dems have decided on their approach to reopen government.
Will be a Homeland CR til Feb 8 (extending existing levels of $1.3b border funding) + full-year bills on the other 6, using the bipartisan Senate versions.

Expected to be made public later today.

— Erica Werner (@ericawerner) December 31, 2018

Democrats plan to pass a stopgap spending bill to fund the Homeland Security Department through Feb. 8. The legislation would continue existing levels of border funding without giving President Trump the new wall money he is seeking.

Tesla Slides on Report of Over 3,300 Model 3s in Inventory

The end of the year push to try and sell vehicles using a $7,500 Federal tax credit as a bargaining chip appears to be falling flat on its face for Tesla. A new report by electrek published on New Year’s Eve says that Tesla still has over 3,300 Model 3 vehicles in its U.S. inventory, which sent the stock sliding lower by about 2% in morning trading.

The inventory is despite Elon Musk pumping that deliveries were available on Twitter – and the company even trying to get its own employees to purchase a vehicle in order to move inventory.

Reminder to US buyers that the $7500 tax credit drops in half in about 48 hours. Order online at https://t.co/46TXqRrsdr or visit a Tesla store to see if there is any inventory left in your region.

— Elon Musk (@elonmusk) December 30, 2018

At one point, Musk eve …

Need to Know: Expect more 1,000-point swings for the Dow in 2019: Mohamed El-Erian

It’s the end of a long year and what have we learned? Volatility will be our friend in 2019, that’s according to our call of the day from Allianz’s top economic adviser, Mohamed El-Erian.

Market Snapshot: Stocks buoyed by trade hopes in last session of a dismal 2018

Trade-deal headlines provide a lift for stocks on Monday, but major indexes remain on track to ring out 2018 with their worst performance since 2008.

Project Syndicate: Roubini: President Trump is flirting with mutually assured economic destruction

Now that financial markets see the danger of the Trump presidency, the risk of a financial crisis and global recession has grown.