21May2019 Market Close: Wall Street Closes Higher, DOW Up 197 Points Just Below Resistance, US Dollar Up 0.12%, WTI Slips On Demand Worries

Tech shares boost Wall St. after Huawei reprieve

Shares of technology companies helped lift Wall Street on Tuesday after the United States temporarily eased curbs on China’s Huawei Technologies Co Ltd, alleviating investor concerns about pressure on future corporate results in the sector.

U.S. eases curbs on Huawei; founder says clampdown underestimates Chinese firm

The United States has temporarily eased trade restrictions on China’s Huawei to minimize disruption for its customers, a move the founder of the world’s largest telecoms equipment maker said meant little because it was already prepared for U.S. action.

Airbus prepares counter-punch to new Boeing mid-sized jet

Airbus hinted on Tuesday at a price battle and imminent aircraft revamp to counter a possible new Boeing mid-sized jet, promising a “left hook, right hook” from two of its established models.

Oil little changed as U.S.-Iran dispute supports, trade war weighs

Oil futures were steady on Tuesday as the prospect of mounting U.S.-Iran tensions disrupting supply was offset by concerns that a lengthy trade war between Washington and Beijing would limit crude demand.

EU regulators to decide on IBM’s $34 billion Red Hat bid by June 27

EU antitrust regulators will decide by June 27 whether to clear U.S. tech giant International Business Machines Corp’s $34 billion bid for software company Red Hat.

Southwest Airlines mechanics dispute ends just as American’s heats up

Southwest Airlines Co’s mechanics union said on Tuesday its members had overwhelmingly voted to ratify a tentative contract agreement with the airline, ending seven years of labor negotiations fraught with legal disputes and flight disruptions.

Rare earth firms’ stocks soar on U.S.-China trade war speculation

Shares in rare earth-related companies soared on Tuesday, led by jumps in Chinese producers a day after Chinese President Xi Jinping visited a rare earth firm in southern China, sparking speculation the sector could be the next front in the Sino-U.S. trade war.

Airbus CEO hints at more powerful A321 jet

Airbus Chief Executive Guillaume Faury hinted on Tuesday at the launch of a more powerful new A321 jet, saying the planemaker’s current A321LR was the world’s longest-range single-aisle jet “for the moment.”

Fed officials see past misses as trouble for any new inflation approach

The Federal Reserve is discussing whether a better way to get the U.S. economy to hit the central bank’s inflation target is to tolerate much higher price increases in some years to counter the weaker ones.

Stocks Bounce As Huawei Hope Trumps Home Sales Horror

It appears President Trump saw the news last night, did not like stocks being red and reversed his Huawei ban (at least temporarily), everything is awesome again…

Trump’s apparent (temporary) fold on Huawei sparked buying euphoria at China’s open, but things faded in the afternoon session…

North Korea Slams “Fool Of Low IQ” Biden, Says Frontrunner Status Is ‘Laughable’

At a time when the relationship between the Trump Administration and Beijing has probably never been more tense, we imagine it’s only a matter of time before Beijing unleashes the ‘coordinated’ Facebook campaign to sabotage the Trump administration, a campaign presumably organized at the behest of Trump’s one-time presidential rival, Hillary Clinton.

But if/when that happens, don’t expect Pyongyang to play along. To wit, North Korea’s state broadcaster has, seemingly apropros of nothing, lashed out at Joe Biden, accusing the former vice president of being “a snob bereft of elementary quality as a human being” in a scathing editorial.

St Louis Fed Promotes Still More Free Money For Banks (And Hiding It All)

Authored by Mike Shedlock via MishTalk,

St Louis Fed researchers concocted a scheme to pay banks still more free money, but this time hiding all of it.

Steve Cohen Unmasked As Mystery Buyer Of $91 Million Bunny

The mystery buyer who paid $91 million for Jeff Koons’ now-infamous rabbit sculpture – a purchase that prompted WSJ to speculate about the art market entering a “frothy period” – has been unmasked: According to ArtNet, it’s Steve Cohen.

Cohen’s motives in buying the piece are unclear. Did Cohen feel like treating himself after making it through 2018 without attracting more legal scrutiny from the SEC? Or did he simply want to remind the world that, although the name on the door has changed, he’s still the Steve Cohen.

Slowdown pangs to be felt by commercial vehicle segment too

Slowdown pangs to be felt by commercial vehicle segment tooCrisis in the NBFCs that finance more than half of new truck sales has affected the sector.

What the new govt can do to reform the GST

What the new govt can do to reform the GSTA lot of items, at present, are outside the GST net. The new govt must improve its coverage.

RBI to have specialised cadre for supervision

RBI to have specialised cadre for supervisionA decision to this effect was taken at a meeting of the RBI’s Central Board chaired by its Governor.

Trucking Industry Growth Is Up Or Down Depending On the Source

Written by Steven Hansen

Headline data for truck shipments showed that the American Trucking Association (ATA) tonnage showed continued strong year-over-year growth, but the CASS Freight Index reported the year-over-year growth rate continues to contract.

Bond Report: Treasury yields follow stock-market rebound as investors receive break from trade anxiety

Treasury prices fall slightly Tuesday, pushing yields up, as a short respite from market jitters weighs on demand for government paper, even as investors keep an eye on trade uncertainty

The Ratings Game: Tesla stock ‘bear case’ is $10, Morgan Stanley says

Tesla Inc. shares slide further on Tuesday after analysts at Morgan Stanley peg their worst-case scenario for the stock at $10 and say the Silicon Valley car maker might have grown “too big.”

The Moneyist: My grandson’s live-in girlfriend hates me and doesn’t want me to stay at their home — should I still leave him all my money?

This woman is upset that she’s been shunned by her grandson’s partner.