01Mar2019 Open Market Commentary: Dow Rose 216 Points, Now Falling To Low Triple Digits, U Of M Consumer-confidence Weaker Than Expected

Here is the current market situation from CNN Money

European markets are higher today with shares in Germany leading the region. The DAX is up 0.96% while London’s FTSE 100 is up 0.54% and France’s CAC 40 is up 0.52%.

EBay announces review of StubHub, Classifieds in deal with activists

EBay Inc on Friday announced a review of its StubHub and eBay Classifieds businesses and said it would appoint two new directors to its board, as part of an agreement with activist investors to avert a proxy contest.

China cheers MSCI weight gain, yen takes the strain

World markets enjoyed a lively end to an otherwise slow week on Friday, with Chinese A-shares leaping after MSCI quadrupled their weight in its global benchmarks and strong U.S. economic data lifting the dollar and bond yields.

Wall Street rises at open following benign inflation data

U.S. stocks rose broadly at open on Friday as data showed inflation pressures remain tame, which together with slowing economic growth underscored the Federal Reserve’s “patient” stance towards raising interest rates further this year.

EU states block putting Saudi Arabia, U.S. territories on dirty-money list

European Union member states unanimously rejected on Friday a proposal to blacklist Saudi Arabia and four U.S. territories for lax controls on terrorism financing and money laundering, sources told Reuters.

Tesla shares down 5 percent after Model 3 launch, sales shake-up

Wall Street reacted nervously on Friday to Tesla Inc’s move to shut its network of showrooms and launch a long-awaited cheaper version of its Model 3 sedan, with its shares falling 5 percent and most analysts expressing concern over the company’s long-term margins.

U.S. personal income falls; spending weakest since 2009

U.S. personal income fell for the first time in more than three years in January as dividends and interest payments dropped, pointing to moderate growth in consumer spending after it fell by the most since 2009 in December.

Customer deposits need protection in no-deal Brexit: EU watchdog

The EU bank watchdog has urged member states to protect customer deposits in branches of British banks in the European Union if Britain leaves the bloc this month with no deal.

Take Five: U-turn if you want to! World markets themes for the week ahead

Following are five big themes likely to dominate thinking of investors and traders in the coming week, and the Reuters stories related to them.

Another Kroger unit to stop accepting Visa credit cards due to high fees

U.S. supermarket chain Kroger Co on Friday said its Smith’s Food and Drug Stores division will stop accepting Visa Inc’s credit cards, starting April 3, because of excessive transaction fees.

UMich Confidence Slumps In Late February, Near 2-Year Lows

U.S. consumer sentiment unexpectedly fell from an initial February reading and remained near the prior month’s two-year low, signaling that Americans haven’t quite shaken off the government shutdown and trade war.

The University of Michigan’s final February sentiment index was 93.8, well below the preliminary reading of 95.5. Most notably, the measure of current conditions weakened from the earlier reading to the lowest since November 2016 while expectations were lower than in the initial report.

Following the dismal spending datya earlier today, UMich’s report showed 25 percent of all consumers reported worsening finances, the highest proportion recorded since Donald Trump was elected president

Buying Conditions rebounded in February…

Fighting Erupts In Kashmir As Pakistan Delays Return Of Indian Pilot

The international community breathed a sigh of relief on Thursday after Pakistani Prime Minister Imran Khan said a captured Indian air force pilot would be released as a “goodwill gesture” to prevent the latest conflict between the two nuclear-armed neighbors from escalating.

But it’s beginning to look like that burst of optimism was premature.

Cross-border clashes erupted along “line of control” that separates Indian-controlled and Pakistani-controlled Kashmir. Exchanges of conventional weapons fire have been reported in in Bala Kote, Mendhar, Jammu and Kashmir, according to local media reports. The fire comes as Pakistan has reportedly delayed the return of Wing Commander Abhinandan Varthaman, who is being hailed as a hero in India after he was shot down Wednesday in the first bout of aerial combat between India and Pakistan in nearly fifty years.

According to one local Pakistani source, the return of the pilot was delayed by Pakistan’s military following a disagreement about the timing. Crowds of demonstrators who had amassed on both sides of the border have reportedly started to disperse.

…

“Downside Risks Prevail” – US Manufacturing Survey Plunges To 26-Month Lows

With US economic data at its most disappointing in 18 months, it should not be surprising that Markit’s US Manufacturing PMI plummeted to 53.0 in February – its lowest since August 2017.

Under the hood in the PMI data, new orders tumbled to 52.7 (lowest since June 2017), and output slowed to its weakest since Sept 2017.

ISM’s Manufacturing survey rebounded in January (like PMI) after December’s plunge, and was expected to slide back modestly in February, but it didn’t – it plunged back to cycle lows…54.2 – the lowest since Dec 2016

ISM Prices Paid contracted (49.4) for the second month in a row as new orders and employment stumbled.

Chris Williamson, Chief Business Economist at IHS Markit said:

“The PMI indicates the US manufacturing sector is growing at its weakest rate for one and a half years, with firms reporting a marked easing in production growth in February, linked to a similar slowdown in order book growth.

“The survey exhibits a strong advance correlation with comparable official data, and suggests …

US Army Takes 50 Tons Of Gold From Syria In Alleged Deal With ISIS

Authord by Elias Marat via The Mind Unleashed,

As the remaining pockets of ISIS fighters faced imminent defeat in northeast Syria, the United States allegedly gave them an offer they couldn’t refuse: give us your massive caches of gold – or die.

According to reports by Syrian state news agency SANA, U.S. forces struck a deal with ISIS whereby the terrorist group would give up 50 tons of gold across eastern Syria’s Deir el-Zour province in exchange for safe passage.

The precious metal, worth about $2.13 billion, was plundered by the self-designated “caliphate” as its reign of terror spread across Syria and Iraq between 2015 and 2017.

Turkish newspaper Daily Sabah reports that local sources claim U.S. Army helicopters have already transferred the gold from the U.S. forces’ base in Kobani, the Kurdish-controlled city that lies close to Syria’s nort …

December 2018 Headline Personal Spending Growth Slowed

Written by Steven Hansen

The headline data this month shows continued relatively good growth in income.

Capitol Report: Here’s what Elizabeth Warren’s attack on big money could mean for her Democratic rivals

The Massachusetts Democrat is putting pressure on opponents who are viewed as more mainstream and more likely to attract the biggest donors.

In One Chart: Under Trump, the EPA’s enforcement efforts fall to a 40-year low in this one key area

As the Trump administration draws flak for how it’s running the Environmental Protection Agency, one critic is putting out charts to make his case.

Key Words: Otto Warmbier’s parents respond publicly to Trump’s statement that he takes North Korea’s Kim ‘at his word’

“Now we must speak out,” say Fred and Cindy Warmbier, parents of the University of Virginia student who died shortly after being released by the North Korean regime after nearly 18 months in prison.