28Mar2019 Pre-Market Commentary: Wall Street Futures Mixed, DOW Futures Flat, Gold Index Falls Below 1300, US-China Trade Negotiations In Focus

Here is the current market situation from CNN Money

European markets are mixed today. The FTSE 100 is up 0.33% while the DAX gains 0.15%. The CAC 40 is even.

EU court clears German green charge exemption to industry

Germany acted legally when it exempted heavy industry from a green energy surcharge in 2012, the European Union’s top court said on Thursday, overturning a decision by the EU antitrust regulator and annulling EU orders to recover the aid.

Futures muted with U.S.-China trade negotiations in focus

U.S. stock index futures treaded water on Thursday, as investors awaited more details on the progress in U.S.-China trade negotiations amid lingering fears of slowing economic growth.

Swedbank sacks CEO after money laundering allegations

Swedbank dismissed Chief Executive Birgitte Bonnesen on Thursday just before its annual shareholder meeting, after mounting investor criticism over allegations the bank was involved in money laundering in the Baltics.

Sony to close smartphone plant in China to cut costs

Sony Corp is closing its Beijing smartphone plant, a spokesman said on Thursday, as the Japanese electronics giant cuts costs in an attempt to make the money-losing handset business profitable from next year.

Exclusive: U.S.-hired firm audits Russia’s Rusal for compliance with sanctions deal

A firm hired by the U.S. Treasury Department is auditing Russian aluminum giant Rusal to check whether it is complying with the terms of a deal under which Washington agreed to lift sanctions on the company, Rusal said.

Exclusive: China makes unprecedented proposals on tech, trade talks progress – U.S. officials

China has made unprecedented proposals in talks with the United States on a range of issues including forced technology transfer as the two sides work to overcome remaining obstacles to a deal to end their protracted trade war, U.S. officials told Reuters on Wednesday.

Lyft raises IPO price target as investor fret over missing out

Lyft Inc on Wednesday raised the price range for its initial public offering, as investors looked past the ride-hailing startup’s mounting losses to the company’s growing market share against larger rival Uber Technologies Inc.

Swedbank says has been truthful over money laundering probes

Swedbank believes it has been honest with authorities looking into allegations that accounts at the bank may have been used for money laundering, its chairman said on Thursday.

Bayer shares sag after U.S. jury verdict in Roundup cancer trial

Shares in Bayer hit an almost 7-year low on Thursday after a U.S. jury awarded $80 million to a man claiming use of the group’s weed killer Roundup caused his cancer, with thousands of similar lawsuits looming.

Pound Tumbles As Leading Brexiteers Walk Back Support For Brexit Deal

For a brief moment earlier this week, it looked as if Theresa May’s supremely unpopular Brexit withdrawal deal might actually pass on the third go. But after the DUP reaffirmed its opposition to the deal last night, and a group of Brexiteers calling themselves “the spartans” said they wouldn’t follow ERG leaders like Jacob Rees-Mogg and Boris Johnson in accepting Theresa May’s “back me then sack me” deal gambit, support for the deal is crumbling once again.

Both Johnson and Rees-Mogg have reportedly rescinded their support for the deal, and though No. 10 insists talks with the DUP are ongoing, it’s unlikely we’ll see them relent, unless May can succeed in securing “material changes” to the agreement, which the EU has already made clear isn’t an option.

The pound broke below a critical resistance level at $1.3125 Thursday morning, as last night’s indicative vote failed spectacularly, with MPs rejecting every alternative to May’s deal. This was a moot point anyway, since the EU has made clear that it’s either the withdrawal agreement, or no deal.

Stocks Slide As Rate Drop Continues, Dollar Spikes

While global markets showed tentative signs of a rebound in sentiment in early Thursday trading, as the global bond rally showed signs of easing, with Treasuries turning lower alongside most sovereign debt in Europe, this quickly reversed around the time US traders start showing up at their desks, and European stocks faded almost all of their earlier gains, while U.S. equity futures drifted, once again within striking distance of the 2,800 key level.

Twitter Suspends Tesla Critic’s Account, Before Reinstating It, After User Posts About Tesla-Related Deaths

Update 3/28/2019 7:59am EST: It appears all of the account’s original followers have been reinstated.

Deutsche Shares Plunge As Bank Discusses Raising Up To 10 Billion For Commerzbank Deal

Deutsche Bank shares sank on Thursday after the Financial Times reported that the troubled German lender had been discussing tapping equity markets to raise as much as 10 billion ($11.2 billion) in what would be the bank’s fifth return to the equity well in under a decade. At the higher end of the range, the raise – which would help facilitated a “merger of weakquals” with fellow struggling German lender Commerzbank – would be equivalent to roughly two-thirds of Deutsche’s 16 billion market cap, and about 40% of the combined market value of Deutsche and Commerzbank.

The news sent Deutsche’s shares spiraling lower, nearing the all-time lows reached late last year:

Documentary Of The Week: Friedrich Nietzsche

Written by John Lounsbury

Who Is Friedrich Nietzsche, What Did He Believe In, and Why Is He Important?

Friedrich Wilhelm Nietzsche was a German philosopher, cultural critic, composer, poet, philologist, and Latin and Greek scholar whose work has exerted a profound influence on Western philosophy and modern intellectual history. A fundamental element of his thinking was that there is no absolute truth, that what we accept as truth is nothing more than perception.

This technology entrepreneur’s career advice is to skip the MBA and go work at a startup

In today’s world, it’s better to study technology and work on big problems, according to Vivek Wadhwa.

Need to Know: Stock market bulls, your ‘flight from safety’ rally is coming, says Barclays

When investors finally calm down, they’ll start backing out of bonds and moving into stocks. Welcome to the next leg of this rally, says our call of the day, from Barclays.

Economic Report: Jobless claims fall to 211,000 in late March to match 2019 low; labor market still strong

The number of people who applied for unemployment benefits in late March fell for the second week in a row to match the lowest level of 2019, a sign the sturdy U.S. labor market remains a source of strength for a U.S. economy struggling to gain traction. Jobless claims declined by 5,000 to 211,000.