09Apr2019 Market Close: Wall Street Falls On Renewed Trade Tensions, Slowdown Angst, DOW Closes Down 190 Points With Investors Nervous About Earnings, Gold Index Climbs Into The 1300 Range

Canada looks at fresh tariffs on U.S. goods, silent on details revealed by envoy

Canada is looking at ways to boost the effectiveness of its retaliatory tariffs against the United States, Foreign Minister Chrystia Freeland said on Tuesday, but did not address remarks by a senior official who revealed what Ottawa might do.

Shareholder adviser Glass Lewis opposes UBS compensation report

Shareholders of Swiss bank UBS Group should oppose its compensation report for 2018, proxy adviser Glass Lewis said, citing “pay-for-performance concern”.

Share rally cools as Trump turns trade heat on Europe

The dollar fell and the rally in global equities lost steam on Tuesday as a U.S. threat to slap tariffs on hundreds of European goods and a downgrade by the International Monetary Fund in its global economic growth forecasts dimmed the appetite for risk.

Principal Financial to buy Wells Fargo’s retirement unit for $1.2 billion

U.S. retirement plan administrator Principal Financial Group said on Tuesday it would buy Wells Fargo & Co’s retirement plan services business for $1.2 billion, as it seeks a larger presence in markets serving mid-sized companies.

Boeing records zero new MAX orders following global groundings

Boeing Co’s orders and deliveries sank in the first quarter, with zero new orders for the 737 MAX following a worldwide grounding in March in the wake of two fatal plane crashes.

Oil drops on global growth worry, possible output rise

Oil prices edged lower on Tuesday, slipping off five-month highs after the International Monetary Fund cut its global economic growth forecasts and as Russia signaled it may retreat from its production-cutting deal with OPEC.

Wall Street falls on renewed trade tensions, slowdown angst

Wall Street lost ground on Tuesday as tariff tensions between the United States and its European trading partners went from simmer to boil and the IMF cut its global growth outlook.

Wynn ends A$10 billion acquisition talks with Australia’s Crown Resorts

Wynn Resorts Ltd, the world’s No. 2 casino operator, said on Tuesday it scrapped preliminary talks to acquire Crown Resorts Ltd for A$10 billion ($7.1 billion), after the Australian Financial Review broke news of the negotiations.

H&M limits free deliveries for low-spending loyalty club members

Fashion retailer H&M has reintroduced delivery fees for its core brand’s loyalty club members on small online orders to cut logistics costs and help restore group profitability.

IMF’d: Stocks Skid, Bonds & Bullion Bid As Lagarde Guts Global Growth Guesses

Your mission, should you wish to accept it, is to keep global stock markets at record highs, and sentiment soaring, as the global economy collapses beyond its debt-limit “event horizon”… The other IMF is not so sure…

Tick, tock…

Another Blockbuster Storm Could Hit The Plains And Midwest States This Week

One month after one of the most powerful storms on record pummeled the Plains and Midwest, another storm of similar strength has been forecasted to strike the same region this week.

“Another strong storm is poised to impact the central U.S. from Colorado to the Great Lakes mid-to-late week this week, with strong winds, and heavy precipitation” reported Meteorologist and owner of Empire Weather, Ed Vallee.

“While likely not a “bomb” (requires a 24mb drop in 24 hours or less), this will be another very strong storm with significant impacts. Rain and snow will break out across South Dakota, Nebraska, and Iowa Tuesday night, and expand in coverage across the central Plains and Midwest into Wednesday. As this storm deepens, winds will be strong, gusting 40-60 mph across the Plains, leading to strong wind generation. Alternatively, heavy rain and snow will impact SD, northern NE, and MN with some areas seeing up to 2 feet of accumulation. Data points to total liquid falling from this storm ranging from 2-4″, with locally higher amounts. Regardless of exact numbers, this region is moisture laden due to heavy winter rain and snow, and this additional moisture will lead to catastrophic flooding in the Upper Midwest. This will continue to promote disruptions to planting processes in the central and southern U.S., and likely lead to delays further north as we head deeper into the Spring,” Vallee added.

Vallee explains the probabilities of the storm developing into a “bomb cyclone” (an area of low pressure that drops 24 millibars in 24 hours) are low. However, some weather models are showing the storm is on the brink of becoming one. Either way, this storm is expected to unleash severe weather in the next 12 to 48 hours.

Exit Polls Show Netanyahu Expected To Win Unprecedented Fifth Term As Israeli Prime Minister

Despite facing indictment for fraud and breach of trust, Israeli Prime Minister Benjamin Netanyahu’s coalition appears to have held on to their majority in Tuesday’s federal election, according to media reports.

Should Netanyahu return for a fifth term (his fourth consecutive since he was first elected PM for one term in the 90s before running and winning reelection in 2009) as prime minister, making him a lock to become the longest serving leader in Israeli history come July, the conservative firebrand and Trump ally plans to make history again by moving ahead with plans to annex parts of the West Bank, while also becoming the first sitting prime minister to officially be indicted on serious criminal charges while in office.

Stockman To Dalio: It’s The Fed, Stupid!!

Authored by David Stockman via Contra Corner blog,

If you want to know had badly Keynesian central banking has corrupted the financial discourse, just check into the current PC sensation of the week.

From eyelash extensions to a ride on a slide —department stores rethink what it means to have it all

From big names like Neiman Marcus to new names like Fourpost, department stores are revamping for a new age of shopping.

The Ratings Game: Vans will be a brand leader for VF Corp. after jeans spin-off: analysts

As VF Corp. prepares to spin off its Kontoor jeans business, analysts say Vans will be a star among the remaining brands.

Zogenix shares down 23% after FDA refuses to review company’s marketing application for seizure drug

Shares of Zogenix, Inc. plunged 23% Tuesday after the company disclosed Monday evening that the Food and Drug Administration had refused to review the marketing application for a treatment of seizures associated with a rare form of childhood epilepsy.