Written by Gary
Stocks rally on US economic data, bond yields rise (SPY +0.1%). US employment and manufacturing data underscored a strong economy.
Here is the current market situation from CNN Money | |
North and South American markets are mixed today. The IPC is up 1.17% while the S&P 500 gains 0.14%. The Bovespa is off 0.22%. |
Traders Corner – Health of the Market
U.S. total weekly active drilling-rig count down 14 at 1,045: Baker Hughes
What Is Moving the Markets
Here are the headlines moving the markets. | |
U.S. job gains largest in 11 months; unemployment rate risesU.S. job growth surged in January, with employers hiring the most workers in 11 months, pointing to underlying strength in the economy despite an uncertain outlook that has left the Federal Reserve wary about more interest rate hikes this year. | |
Chevron’s profit rises on higher oil prices and outputU.S. oil and natural gas producer Chevron Corp on Friday reported quarterly earnings that topped analysts’ estimates on higher prices and production, sending shares higher in morning trading. | |
IAG’s Walsh to Airbus: drop A380 price to boost salesAirbus should lower the price of its A380 jetliner if it wants to sell more of them, IAG CEO Willie Walsh said on Friday, adding that the airline group would consider additional aircraft if the price was right. | |
Stocks rally on U.S. economic data, bond yields riseGlobal equity markets and bond yields rose on Friday after U.S. employment and manufacturing data underscored a strong economy with little wage inflation, a Goldilocks mix that could allow the Federal Reserve to stand pat on raising interest rates soon. | |
Wall Street edges higher after strong jobs data; Amazon dragsU.S. stocks edged higher on Friday after solid gains in January, as stronger-than-expected jobs data eased concerns about a slowdown, although disappointing outlook from e-commerce giant Amazon capped gains. | |
Toyota U.S. auto sales fall 6.6 percent in JanuaryToyota Motor Corp on Friday reported a 6.6 percent fall in U.S. vehicle sales for January, hurt by lower demand for its Camry and Prius cars. | |
U.S. appeals court hears challenge to FCC net neutrality repealA federal appeals court was hearing arguments on Friday over whether the Trump administration acted legally when it repealed landmark net neutrality rules governing internet providers in December 2017. | |
Exclusive: Papa John’s seeks investment after it abandons outright sale – sourcesPapa John’s International Inc, the world’s third largest pizza delivery company, is pursuing the sale of a stake in itself after acquisition offers from private equity firms did not meet its valuation expectations, people familiar with the matter said on Friday. | |
Boeing goes bionic to roll out more DreamlinersBoeing Co is counting on a new kind of worker to help it reach a long-coveted target of rolling out 14 787 Dreamliners from its factories each month: half human, half robot. | |
Digital Media Bloodbath Continues: New Vice CEO Cuts 10% Of Staff, Shifts Focus To Film, TVThe digital publishing industry, which expanded rapidly during the online video boom but has since been struggling to deliver on the lofty promises sold to its VC and corporate backers, just can’t catch a break. Following mass layoffs at Buzzfeed, the Huffington Post, Gannett and Verizon Media Group last week, Vice Media has become the latest trendy new media darling to announce deep cuts to staffing levels. The Hollywood Reporter reported Friday morning that the cuts will impact around 250 people, and are part of new CEO Nancy Dubuc’s “strategic plan” to cut back on spending and “achieve profitability.” The cuts, which will be distributed across “all departments at every level”, will total roughly 10% of the company’s workforce.
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Nobody’s Buying US Treasuries Except “Other Investors” & Mutual Funds?Authored by Chris Hamilton via Econimica blog, Today’s question: Who buys and holds America’s federal debt? To begin, the chart below shows the growth of US debt (split between public marketable debt and non-marketable Intra-Governmental holdings) and Federal Funds rate since 1970. Public marketable debt is skyrocketing while debt held by Intra-Governmental trust funds continues slowing. As for the annual change in US debt, the chart below outlines the increasing quantities issued to the public (marketable) debt versus what was purchased via Intra-Governmental trust fund surplus’. Note the diminishing IG versus surging marketable debt. | |
Schultz Confronted By Angry Protesters During Seattle Book EventFormer Starbucks CEO Howard Schultz was greeted by protesters at Seattle’s Moore Theater Thursday night during a book tour stop – less than one week after he was heckled at a New York Barnes & Noble for being an “egotistical, billionaire asshole.” His crime? Announcing on 60 Minutes that he was thinking of running for president as a “centrist independent” – a move viewed by Democrats as splitting the party, virtually ensuring a second term for President Trump. Protesters gathered outside Moore Theater holding signs shaped like giant coffee cups with messages such as “Grande Ego” , “Venti Mistake” and “Howard, Don’t Do It!”
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Trump Versus The Spy Chiefs: Who’s Right?Authored by Patrick Buchanan via Buchanan.org, To manifest his opposition to President Donald Trump’s decision to pull all 2,000 U.S. troops out of Syria, and half of the 14,000 in Afghanistan, Gen. James Mattis went public and resigned as secretary of defense. Now Director of National Intelligence Dan Coats, in public testimony to Congress, has contradicted Trump about the threats that face the nation. Contrary to what the president believes, Coats says, North Korea is unlikely to give up its nuclear weapons. ISIS remains a serious threat, even if the caliphate has been rolled up. And there is no evidence that Iran, though hostile and aggressive, is acquiring nuclear weapons. CIA Director Gina Haspel agreed: Iran remains in compliance with the nuclear treaty that Trump has trashed and abandoned. The treaty is still doing what it was designed to do. At this perceived public defiance, Trump exploded:
Trump then brought up the epochal blunder of U.S. intelligence in backing the Bush II claim that Saddam Hussein had weapons of mass destruction (a “slam dunk”), and was a grave threat to the USA. Born of incompetence and mendacity, that counsel led to the greatest strategic blunder of the 21st century, if not of U.S. history — the second Iraq War. Launched by George W. Bush, this invasion plunged us into the Middle East’s forever war and got the Republican Party ejected from power in 2006 and 2008. Wh … | |
November 2018 Headline Wholesale Sales DeclinedWritten by Steven Hansen The headlines say wholesale sales declined month-over-month with inventory levels remaining slightly elevated. Our analysis shows a deceleration of the rate of growth for the rolling averages. | |
Capitol Report: Why wage gains may accelerate despite January pauseWorker pay barely rose in January despite a hefty 304,000 gain in new jobs — most of them well paid — and a slew of increases in minimum wages across the country. What the heck is going on? | |
Key Words: Cory Booker opens White House run with call for end to marijuana ‘prohibition’Cory Booker is making his efforts at marijuana legalization part of his freshly begun presidential campaign, the New Jersey senator said in a radio interview Friday as he made his White House bid official. | |
Outside the Box: Two cannabis companies top Harry Boxer’s stocks to watchShares of Aphria and Cronos rallied this week. |
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