Written by Gary
US stocks rose today (SPY +0.5%), extending a strong start to the quarter.
Here is the current market situation from CNN Money | |
North and South American markets are higher today with shares in U.S. leading the region. The S&P 500 is up 0.48% while Mexico’s IPC is up 0.32% and Brazil’s Bovespa is up 0.05%. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
U.S. services, private payrolls data highlight slowing economyU.S. services sector activity hit a more than 19-month low in March and private payrolls grew less than expected, underscoring a loss of momentum in the economy that supports the Federal Reserve’s move to suspend interest rate hikes this year. | |
IKEA to test furniture rental in 30 countriesIKEA wants to roll out furniture rental to all its main markets in a bid to appeal to its increasingly environmentally conscious and transient customers. | |
Ford to launch more than 30 new models in China over next three yearsFord Motor plans to launch more than 30 new models in China over the next three years of which over a third will be electric vehicles, the U.S. automaker said on Wednesday, as it seeks to reverse slumping sales in the world’s top auto market. | |
Trump orders crackdown on counterfeit sales onlinePresident Donald Trump on Wednesday ordered a crackdown on counterfeit products on third-party online marketplaces, asking for more information on how the United States can better track and curb such sales. | |
Max Levchin’s Affirm raises $300 million in latest funding roundPayPal Holdings Inc co-founder Max Levchin’s Affirm has raised $300 million in a funding round led by Thrive Capital that included actor Ashton Kutcher and Guy Oseary’s Sound Ventures as one of its new investors. | |
German lawmakers ready to block public cash for Deutsche-CommerzbankLawmakers are warning Germany’s finance minister that they will block any attempt to invest public money into a merged Deutsche Bank and Commerzbank, a deal which could require up to 10 billion euros ($11.2 billion) of fresh capital. | |
Deutsche Bank and Commerzbank divided over pace of merger talks: sourcesDeutsche Bank and Commerzbank are divided over the pace of their merger talks, two people with knowledge of the matter said on Wednesday. | |
India’s Jet grounds much of its fleet as it awaits bailout fundsIndia’s Jet Airways has been forced to ground more than three quarters of its fleet after failing to pay lessors as it awaits bailout funds promised by state-run banks. | |
Wall Street rises as trade hopes build; chip index hits recordU.S. stocks rose on Wednesday, extending a strong start to the quarter as rising hopes of a trade deal with Beijing and bullish reports lifted the semiconductor index to a record high. | |
Malinvestment: Have We Learned Anything Since The Last Recession?Authored by Bradley Thomas via The Mises Institute, A growing number of economists are predicting the current economic boom will turn to bust in 2019. When recession does come, will economists simply call for more of the same – namely endless government spending? | |
NYT: ‘Creepy’ Joe Biden May Be Sunk; 2020 Enemies Crank Out Political Ad Using Molestation FootageAs the list of women coming forward with #MeToo claims against ‘creepy’ Joe Biden grows (we’re up to four now, including a survivor of sexual assault), the New York Times reports that the 76-year-old politician’s “tactile style” may put a damper on his 2020 ambitions in the #MeToo era. | |
Market Paradox: Loan Prices Jumped In Q1 Despite Non-Stop Loan Fund OutflowsThe number of paradoxes in the centrally-planned market just keep on piling up. As we reported yesterday the BBB-rated universe of lowest-rated IG corporate bonds, some $3+ trillion and most in danger of being downgraded to junk just had their best quarter since 1995 (alongside most other soaring assets). | |
Nasdaq Triggers “Golden Cross” But “The Market Is Not The Economy”For the first time since May 2016, the Nasdaq has triggered a ‘golden cross’ as its 50DMA crosses above its 200DMA. | |
March 2019 ADP Job Growth Is 129,000. Job Market Is Weakening.Written by Steven Hansen ADP reported non-farm private jobs growth at 129,000 which was below the range of expectations. A quote from the ADP authors:
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In One Chart: A closely watched momentum indicator signals a near 200% rally for bitcoin, in one chartThe April resurgence in bitcoin ticked off another milestone on Tuesday, when the digital currency closed above its 200-day moving average for the first time in nearly two years. | |
This daily task could be dangerous for pregnant womenPregnant women who commute 50 miles or more are at risk for adverse birth outcomes, a new study suggests. | |
Market Extra: The legendary ‘gatekeeper’ of the stock market—whose picks dictated trillions in ETF holdings — is retiringDavid Blitzer, a stock-market indexing icon who has helped oversee the composition of the S&P 500 for over two decades, is retiring. |
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