Written by Gary
US stocks finish fractionally higher as Wall Street extends rally (SPY +0.4%), ahead of Trump’s State of the Union address.
The Market in Perspective
Here are the headlines moving the markets. | |
Boeing makes ‘significant investment’ in supersonic jet developer AerionBoeing Co said on Tuesday it had made a significant investment in supersonic business jet developer Aerion, as the world’s biggest planemaker looks to tap into rising demand for high-end aircraft that can reduce travel time. | |
Stocks end higher with State of the Union on deckU.S. stocks rose on Tuesday as largely upbeat corporate results fueled investor optimism ahead of the highly awaited State of the Union address by President Donald Trump. | |
Electronic Arts cuts revenue outlook after poor ‘Battlefield’ salesElectronic Arts lowered its revenue outlook on Tuesday, hit by lackluster sales of its newly launched “Battlefield V” title which faces stiff competition from “Red Dead Redemption” and upstart online games like “Fortnite.” | |
Apple agrees to pay back-taxes to French authoritiesApple’s French division said it had reached a deal with France to pay an undeclared amount of back-dated tax, which French media estimated at around 500 million euros ($571 million). | |
Chevron CEO Wirth set to earn $19 million in annual pay(This February 4 story corrects headline and paragraphs 1, 4 to show Wirth is eligible to earn $19 million, not “more than $28 million”.) | |
Uniper CEO, CFO to step down at end of AugustThe chief executive and finance chief of energy group Uniper, which has been in a tussle with major shareholder Fortum, will step down at the end of August, the company said on Tuesday. | |
Fiat Chrysler recalls 882,000 pickup trucks for steering, pedal issuesFiat Chrysler Automobiles NV said on Tuesday it would recall 882,000 pickup trucks worldwide in two new recalls to address steering and pedal issues. | |
U.S. jury orders Takeda to pay Bayer $155 million over hemophilia drugA U.S. jury has ordered Takeda Pharmaceutical Co’s Baxalta unit to pay Bayer AG $155.19 million for infringing a patent related to a Baxalta hemophilia treatment, court records made public on Tuesday show. | |
Viacom’s Netflix deal highlights content strategy; earnings mixedViacom Inc announced another film production deal with Netflix Inc through its Nickelodeon kids division, fleshing out a strategy to produce more shows and movies for others as streaming video giants battle for viewers. | |
Stocks Continue To Soar But Bonds, Bullion, & The Greenback Ain’t Buying ItEverything is awesome, right? (just don’t pay attention to bonds, gold, or the dollar)… Well it had to be higher on SOTU day… Chinese equity markets remain closed for the lunar new year holiday but yuan surged overnight – erasing the plunge from the day before… … | |
Crypto Exchange CEO Who Took Keys To $150M Fortune To His Grave Filed Will Just Before DyingAnother interesting wrinkle has surfaced in the mysterious saga surrounding the death of Gerald Cotten, the founder of Canadian crypto exchange QuadrigaCX who died suddenly at age 30 last month, inadvertently sealing away a C$190 million ($145 million) fortune in cryptocurrencies belonging to his customers (or at least that’s what the exchange and his widow have claimed). According to Bloomberg, Cotten, who reportedly died suddenly while traveling in India due to complications arising from his Crohn’s disease (according to Quadriga, he was planning to help build an orphanage), filed a last will and testament just 12 days before his “unexpected” demise – which seems to undercut the exchange’s argument that he died suddenly and, as a result, neglected to share the keys to the exchange’s cold storage wallets with his business partners, or his wife, who will inherit his estate. Cotten signed his will on Nov. 27, 2018, leaving all of his assets to his wife, Jennifer Robertson, while making her the executor of his estate. … | |
Watch Congressional Members Get Confronted On US-Led Regime Change Efforts In VenezuelaIs Congress attempting to keep a check on the executive’s foreign policy adventurism especially as we inch closer toward yet another unnecessary military intervention, this time in Venezuela? Or perhaps the better question is, when has it ever? Journalist Max Blumenthal recently went to Capitol Hill to find out with camera in tow. And like with Libya, Syria, or Ukraine before, it appears the greater the hawkishness, the greater the ignorance. Blumenthal confronted Congressional members who admitted to US “meddling” in the Latin American country, but who can’t figure out if it’s “good meddling or not” — as one befuddled and confused lawmaker responded.
The irony of course is that these very Congressional members, perhaps reflecting much of the broader American public, have been obsessed with alleged ‘Russian meddling’ in the US over the past two years yet don’t give a thought when it goes the other way — that is, America’s penchant for meddling in other nations, even to the point of military-led regime change and covert coup attempts. To meddle or not to meddle? Predictably it was a basic assump … | |
Oregon Defies Logic With Statewide Rent ControlAuthored by Andrew Moran via The Mises Institute, It is often said by cynical economists and political commentators, usually of the right or libertarian persuasion, that the road to hell is paved with good intentions. There is no more odious and damagingeconomic policy that comes from the heart than rent control. For years, limiting the cost of living spaces was done at the local level, but one West Coast state aims to be the first to implement statewide rent controls. Oregon’s Proposed Rent Controls Oregon is set to pass SB 608, legislation that prohibits landlords from raising rents in the first year of a resident’s tenancy. The bill would also cap future rent hikes at 7% annually, plus inflation. This will target all rental properties 15 years or older but exempt units that are a part of a government housing project. It should be noted that SB 608 does not have vacancy controls, which means buildings can jack up the rent by any amount once th … | |
Market Extra: State of the stock market? Trump’s State of the Union will be tracked closely on Wall StreetThe stock market has rebounded from a dreadful December but investors could be keying in on coming comments from President Donald Trump for further direction about plans to help deliver a fresh jolt to the economy and their wallets. | |
The Tell: If stock-market investors missed January’s surge, they’re out of luck, says Goldman SachsMissed January’s stock-market rally? Well, tough luck, says strategists at Goldman Sachs. Here’s why. | |
Outside the Box: If Trump keeps stressing China, the U.S. economy will losePushing the world’s most populous nation into a recession would be a disaster for both countries. |
Summary of Economic Releases this Week
Earnings Summary for Today
leading Stock Positions
Current Commodity Prices
Commodities are powered by Investing.com
Current Currency Crosses
The Forex Quotes are powered by Investing.com.
To contact me with questions, comments or constructive criticism is always encouraged and appreciated: