Written by Gary
The Nasdaq fell sharply today, as technology stocks pulled back leading decline.
Here is the current market situation from CNN Money | |
North and South American markets are higher today with shares in Mexico leading the region. The IPC is up 0.45% while Brazil’s Bovespa is up 0.35% and U.S.’s S&P 500 is up 0.04%. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
U.S. consumer confidence hits one-and-a-half year low in JanuaryU.S consumer confidence fell to a 1-1/2 year low in January as a partial shutdown of the government and financial markets turmoil left households nervous about the economy’s near-term outlook. | |
Wall Street edges lower on tech retreat, trade concernsThe S&P 500 and Nasdaq fell on Tuesday, as technology stocks pulled back, while concerns about the upcoming U.S.-China trade talks and mixed earnings reports gave little impetus for markets to recover from a slide a day earlier. | |
Verizon sees no increase in 2019 profit, misses fourth-quarter revenue estimateVerizon Communications Inc on Tuesday gave full-year 2019 profit guidance that disappointed investors, and missed analysts’ fourth quarter revenue estimates, though it beat on profit. | |
Lockheed forecasts 2019 profit below view, but sees higher cash flowLockheed Martin Corp, the Pentagon’s top weapons supplier, on Tuesday forecast 2019 profit below estimates and reported that quarterly margins slipped at the unit that makes the radar-evading F-35 fighter jet and C-130 transport plane. | |
Bankrupted by deadly wildfires, PG&E vows to keep the lights onUtility owner PG&E Corp filed for bankruptcy protection on Tuesday in anticipation of liabilities from California wildfires, including a catastrophic 2018 blaze that killed 86 people. | |
U.S. judge rejects Yahoo data breach settlementA U.S. judge rejected Yahoo’s proposed settlement with millions of people whose email addresses and other personal information were stolen in the largest data breach in history, faulting the Internet services provider for a lack of transparency. | |
VW’s Traton trucks pursues growth with China, U.S. alliancesVolkswagen’s trucks business Traton wants to use alliances with rivals in China, the United States and Japan to tap into global growth and achieve a return on sales of nine percent, Chief Executive Andreas Renschler said on Tuesday. | |
Sainsbury’s-Asda deal could live with upwards of 132 store disposals: UBSThe proposed merger of Sainsbury’s and rival supermarket operator Asda would be viable even if regulators forced the group to dispose of 132 stores or more, Sainsbury’s house broker UBS said on Tuesday. | |
Cryptocurrency thefts, scams hit $1.7 billion in 2018: reportCryptocurrencies stolen from exchanges and scammed from investors surged more than 400 percent in 2018 to around $1.7 billion, according to a report from U.S.-based cyber security firm CipherTrace released on Tuesday. | |
The NFL’s Latest HeadacheAuthored by Doug French via The Mises Institute, The Raiders are coming to Las Vegas and the excitement is palpable. Three-quarters of a billion dollars of taxpayer money used as Raider bait seemingly hasn’t upset anyone. The arrival of the NFL after the Golden Knights’ first NHL season has local real estate salespeople, developers, casino owners and business folk dreaming of cashing in on a local professional sports bonanza. Pro sports is seen as the next step in Sin City’s evolution. I’m told Raider Stadium construction is on schedule despite a major concrete malfunction. The eventual parking scheme is, shall we say, untested. But, tickets are selling like hotcakes and the town has gone collectively coocoo for the Raiders as it did with the Golden Knights. What could go wrong? Insurance? Or, lack of it? Insurers are leaving the football market fearing Chronic Traumatic Encephalopathy (CTE) is the new asbestos. Steve Fainaru and Mark Fainaru-Wada wrote in a spectacular ‘o … | |
Tesla Facing $920 Million Debt Bill If Its Stock Doesn’t Rally 21% In 4 WeeksOne of the ongoing sub-plots that Tesla saga participants have been watching closely has been how the company plans to deal with $920 million of convertible bonds that are maturing in just about four weeks, on March 1. As we exit January and head into February, the clock is officially ticking for the company to try and manage how it is going to pay off this debt, which could cost the cash flow-challenged company as much as $1 billion in much needed liquidity. The bonds were issued back in 2014 and Tesla can pay them off with both cash and stock, but it needs shares to jump about 21% from current levels to trigger the convertible price, and for them to add stock into the mix. Otherwise, it’s cash and carry. If they have to pay the entire $920 million bond off in cash, it would take a huge bite out of Tesla’s cash balance. The one remaining potential catalyst for Tesla shares to move higher before maturity is going to be the company’s earnings on Wednesday. Chris Hartman, a convertibles experts at Aegon Asset Management told Bloomberg that … | |
Gold Jumps To 8-Month Highs As Geopolitical Chaos ReignsGold extended gains to an eight-month high as fallout from geopolitical turmoil including US-China trade tensions, a WW3-inducing Venezuelan ‘coup’, and Brexit uncertainty has spurred demand for the safe-haven metal. Spot gold is now at its highest since May 2018 against the USDollar… Gold is also strong against the yuan (but not breaking out yet)… | |
Is The Permian Bull Run Coming To An End?Authored by Kurt Cobb via OilPrice.com, The bad news coming out of the shale oil fields of America could all be put down to slumping oil prices. That is certainly a big factor. But as investment professionals like to say, when the tide goes out, we all find out who’s been skinny-dipping. The pattern of negative news from shale country is not just related to price, however. Oil production, it seems, is being overstated industry-wide by 10 percent and 50 percent in the case of some companies, according to The Wall Street Journal. The CEO of one of the largest players in the industry, Continental Resources, predicted that growth in shale oil production could fall by 50 percent this year compared to last year. In reality, we should expect worse as the industry for obvious reasons tends to … | |
TaxWatch: Beware, the IRS is looking for these red flags when it decides who to audit this tax seasonTax experts give their opinion on what to avoid when filing your taxes. | |
Futures Movers: Oil prices build on gains in wake of Treasury sanctions on Venezuela’s PdVSAOil prices on Tuesday pick up from the late-Monday recovery seen after the U.S. Treasury unveiled sanctions on Venezuela’s state-owned oil firm, Petróleos de Venezuela SA. | |
NewsWatch: Beware, the IRS is looking for these red flags this tax seasonTax experts give their opinion on what to avoid when filing your taxes. |
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