Written by Gary
The Dow rose 0.75%, the S&P 500 added 0.96%, while the Nasdaq Composite jumped 1.58% to fresh all-time highs. The dollar snapped a 2-week winning streak while the pound continued moving higher and the euro treaded water. Oil and gold each gained on the day but both lost ground for the week.
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The Market in Perspective
| Here are the headlines moving the markets. | |
 | U.S. rejects bid by Tesla for tariff exemption for Model 3 ‘brain’U.S. trade officials rejected Tesla Inc’s bid for relief from President Donald Trump’s 25 percent tariffs on the Chinese-made computer “brain” of its Model 3 electric vehicle, one of more than 1,000 product denials linked to China’s industrial development plans. |
| World stocks rally after U.S. payrolls data tops views; inflation comments dent dollarGlobal equity markets rallied on Friday, buoyed by a U.S. payrolls report that shot past expectations, while the dollar weakened after several Federal Reserve officials voiced concerns about low inflation. |
| PG&E unable to strike deal over renewable power contracts: court documentsPG&E Corp was unable to reach a deal with NextEra Energy Inc and other companies with which it has billions of dollars in power contracts in a jurisdictional dispute over the bankrupt utility’s ability to walk away from or amend those agreements, according to court documents. |
| U.S. judge approves Fiat Chrysler diesel emissions settlementA federal judge in San Francisco on Friday approved a $307.5 million civil settlement for about 100,000 U.S. owners of Fiat Chrysler diesel vehicles that the government said had illegal software that allowed them to emit excess emissions. |
| Wall St rises on upbeat jobs reportU.S. stocks rose in a broad-based rally on Friday as stronger-than-expected job growth in April with muted wage gains left investors upbeat about the outlook for the economy and interest rates. |
| Brazil’s Natura to invest $5 million in new brands through venture capital fundsBrazil cosmetics company Natura intends to invest up to $5 million in new brands in beauty and wellness segments in Europe and the United States through venture capital funds, executives said on Friday. |
| Wells Fargo expects to refund monthly service fees to some customersWells Fargo & Co said on Friday it expects to refund some servicing fees to customers who may have been confused about how to avoid monthly charges. |
| Trump ‘firm’ on China structural demands, tariffs part of enforcement: PenceU.S. Vice President Mike Pence said on Friday that President Donald Trump would “stand firm” on his demands for structural changes to China’s trade practices, and removal of U.S. tariffs on Chinese goods would be a part of a mechanism to enforce any deal with Beijing. |
| Trump says U.S.-China trade deal is going along pretty wellU.S. President Donald Trump said on Friday the trade deal the United States is negotiating with China is going pretty well. |
| Dow Suffers Longest Weekly Losing Streak Of Year As Fed Loses Control Of Short-EndThe Fed’s tweak to the funding markets failed to take back control… |
| Neo-Nazi Arrested For Threatening To Kill Don Jr., Jared Kushner & Ben ShapiroA raging anti-semite who was stockpiling tactical weaponry and Nazi paraphernalia has been arrested for sending death threats to Jared Kushner, Donald Trump Jr. and Ben Shapiro, TMZ reports. Barely a week after a deranged 19-year-old shot up a synagogue in Poway, Calif., claiming the Christchurch Shooter as his inspiration, Chase Bliss Colasurdo was arrested Wednesday in Washington State after the FBI and Secret Service uncovered multiple death threats against Trump’s family members. |
| Florida Teachers Can Be “Good Guy With A Gun” Under New Bill Allowing Them To Pack HeatFlorida’s House of Representatives passed a bill on Wednesday allowing full-time teachers to carry guns in the classroom – expanding on a program launched in the wake of the deadly Parkland high school shooting in February, 2018. |
| The Wheels Of Real Justice Are In Motion Now: Kunstler Fears The “Desperate Resistance” Next Move…Authored by James Howard Kunstler via Kunstler.com, “Impeachment is too good for him,” Nancy Pelosi declared of the president on Thursday after “his lapdog” – as she styled Attorney General William Barr – refused to be whipped by grandstanding Democrats on the Senate Judiciary Committee. What did Madam Speaker have in mind then? Dragging Mr. Trump behind a Chevy Tahoe over four miles of broken light bulbs? Staking him onto a nest of fire ants? How about a beheading at the capable hands of Rep. Ilhan Omar (D-MN)? |
| May 2, 2019 Weather Impacts On Economic Activity – Reverse DroughtWritten by Sig Silber U.S. and World Agriculture: Plus an Expanded Weather Forecast Section Right now, instead of too little precipitation we have too much with the result being persistent flooding in a number of areas. The highly amplified forecast suggests this may continue to be a problem. Combined with areas that are colder than normal, it has caused a slow start to the crop year in many areas. We will discuss all of this and provide an approximately 25-day weather forecast update and also provide some interesting information on the impact of drought on trees.
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| Why Gold Could Be Approaching A RallyWritten by Jim Welsh There is a key indicator which hints that an advance for gold may be near. I explain what this is in an Investing Channel presentation. The prospects for a rally in 2019 are also supported by a wave cycle analysis which is also discussed.
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| The Wall Street Journal: Tesla completes its $2.35 billion stock and bond saleTesla Inc. has completed a $2.35 billion stock and bond sale, giving the company a much-needed boost of liquidity as it continues its quest to become the first mass producer of electric cars. |
| Market Snapshot: Nasdaq rings up a record to end the week after hotter-than-expected April jobs reportThe Nasdaq on Friday closes at an all-time high and the S&P 500 narrowly misses its own, as investors buy stocks following an April employment report that came in hotter than expected, underscoring consistent labor-market strength. |
| The Wall Street Journal: White House weighs nominating former Trump aide to the FedPresident Trump’s next nominee to the Federal Reserve board may be one of his former domestic policy aides who now oversees economic policy studies at the conservative Heritage Foundation. |
Summary of Economic Releases this Week
Earnings Summary for Today
leading Stock Positions
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