24Jan2019 Pre-Market Commentary: Wall Street Futures Point To A Flat Opening, DOW Down 15 Points, WTI Trading At 52.26, Better-than-feared Earnings From Chipmakers

Here is the current market situation from CNN Money

European markets are mixed today. The CAC 40 is up 0.81% while the DAX gains 0.49%. The FTSE 100 is off 0.09%.

Gloomy data pushes euro lower but will Draghi worry?

The euro retreated while stocks and bonds rallied on Thursday, as painful data from France and only modestly better readings from Germany set the tone for the European Central Bank’s first meeting of the year.

Renault names new leaders as scandal-hit Ghosn bows out

Renault appointed Michelin boss Jean-Dominique Senard as its new chairman on Thursday, after Carlos Ghosn was forced to resign in the wake of a financial scandal that has rocked the French carmaker and its alliance with Japan’s Nissan .

Union Pacific quarterly revenue rises 6 percent

U.S. railroad operator Union Pacific Corp on Thursday reported a 6 percent rise in quarterly revenue, helped by higher industrial shipments.

American Airlines quarterly profit beats on higher fares

American Airlines reported better-than-expected quarterly profit on Thursday and forecast 2019 earnings above Wall Street estimates as the No.1 U.S. airline benefits from higher fares and healthy passenger demand, sending its shares up nearly 6 percent.

New Renault chairman Senard to focus on alliance with Nissan, Mitsubishi

Jean-Dominique Senard, the new chairman of French carmaker Renault , said he would focus on talks to cement Renault’s alliance partnership with Japanese peers Nissan and Mitsubishi .

ECB keeps policy unchanged but may acknowledge weak growth

The European Central Bank left its policy stance unchanged as expected on Thursday, keeping a rate hike later this year on the table even as the euro zone economy suffers its biggest slowdown in half a decade.

Statement from the ECB following policy meeting

Following is the statement from the European Central Bank following its policy meeting.

Chip results augur more tech gloom as slowing China weighs

Somber results from chipmakers SK Hynix Inc and Texas Instruments Inc , on the heels of warnings from tech behemoths Samsung and Apple, indicate more gloom for the sector as China’s economy slows to its weakest in decades.

Hedge fund prepares proxy fight to oust board at embattled PG&E

PG&E Corp shareholder Blue Mountain Capital Management LLC is preparing to launch a proxy fight to oust the embattled California utility owner’s board, arguing that the company is harming investors with its plan to seek bankruptcy protection in the wake of catastrophic wildfires.

Initial Jobless Claims Crash To 50 Year Lows

For the first time since October 1969, initial jobless claims in America dropped below 200k…

We would expect this to jump in the next few weeks as government workers claim benefits during the shutdown.

Watch Live: Mario Draghi Explain How A Hawkish ECB Will Rescue EU’s Collapsing Economy

With the core of Europe contracting (PMIs

Russia Warns US Intervention In Venezuela Would Have “Catastrophic Consequences”

Russia has dismissed the political crisis engulfing Venezuela as an attempted coup while expressing concern over the role of external states and the potential for foreign military intervention, calling Juan Guaido’s move to declare himself president illegal.

Kremlin Spokesman Dmitry Peskov said Thursday, “We are very concerned by statements that don’t rule out some kind of external intervention,” as cited by Bloomberg. “We consider such intervention unacceptable,” Peskov added while describing the internal unrest spilling into the streets after the catalyst of Monday’s failed military revolt of 27 officers in an opposition neighborhood of Caracas an “attempt to usurp power”.

Prior meeting at the Novo-Ogaryovo state residence outside Moscow on December 5, 2018. Image source: AFP

This follows President Trump’s declaration that the US would only recognize the unelected head of the opposition-held National Assembly as “the President of the Venezuelan National Assembly, Juan Guaido, as the Interim President of Venezuela.” A senior Trump administration official followed

Countries Are Beginning To Stockpile Gold

Authored by Lawrence Thomas via GoldTelegraph.com,

The Bank of China had increased its gold reserves from 1842.6 tons to 1,852 tons in December 2018. This increase represents the first major purchase of gold by the Bank of China since 2016. And there appears to be a purpose for the renewed interest in gold.

While the U.S. Federal Reserve Bank has attempted to keep gold prices low in an effort to preserve world dominance of the U.S. dollar, other countries have taken advantage by accumulating more precious metal at bargain prices.

Economic Report: Jobless claims fall below 200,000 for first time since 1969, but tens of thousands unpaid federal workers seek financial aid

The number of Americans applying for unemployment benefits through state programs fell below 200,000 for the first time since 1969 — even as new claims soared for furloughed government workers who file through a separate federal program.

TaxWatch: How to invest in real estate and pay nothing in capital gains because of this new tax break

Hold an investment in a Qualified Opportunity Zone fund for a decade and pay nothing on your gains.

Earnings Outlook: Caterpillar earnings: Will good numbers finally lift the stock out of its doldrums?

Caterpillar Inc. is scheduled to report fourth-quarter earnings on Monday before the bell and analysts are hoping for news that can prop up its battered stock.