Written by Gary
US major indexes are sea-sawing in light trading (SPY +0.1%) as investors continue to be concerned with trade wars and the global economy.
Here is the current market situation from CNN Money | |
North and South American markets are broadly higher today with shares in Brazil leading the region. The Bovespa is up 1.06% while Mexico’s IPC is up 1.05% and U.S.’s S&P 500 is up 0.03%. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
Equities advance after week-long selloff, bond yields steadyWorld stock markets climbed for the first time this week on Thursday, giving pause to a multiday selloff on fears of an escalating trade war between the United States and China that has pushed investors into safe-haven bonds and the U.S. dollar. | |
CBS board plans merger talks with Viacom: CNBCShares of Viacom Inc jumped nearly 6% on Thursday on a report that CBS Corp’s board is preparing for merger talks with the media company. | |
Wall St steadies after trade tension-driven selloffU.S. stocks inched higher for the first time this week on Thursday, as President Donald Trump said trade talks with China were going well, offering a glimmer of hope to markets roiled by worries that a protracted dispute would slow global growth. | |
Disney CEO says it will be ‘difficult’ to film in Georgia if abortion law takes effectWalt Disney Co Chief Executive Bob Iger told Reuters on Wednesday it would be “very difficult” for the media company to keep filming in Georgia if a new abortion law takes effect because many people will not want to work in the U.S. state. | |
U.S. inflation much softer in first quarter; puts spotlight on FedU.S. inflation was much weaker than initially thought in the first quarter amid a sharp slowdown in domestic demand, which could cast doubts on the Federal Reserve’s view that the benign price pressures were largely because of temporary factors. | |
FirstGroup reaches end of the line of Greyhound bus rideDallas-based Greyhound was put up for sale by Britain’s FirstGroup on Thursday as the North American bus line battles to compete with growing pressure from low cost airlines. | |
JPMorgan’s deposit growth slowing as customers seek higher yieldDeposit growth at JPMorgan Chase & Co, the largest U.S. bank by assets, is slowing as customers withdraw some of their money and stash it with competing banks that pay higher interest rates, a bank executive said Thursday. | |
Rogers vice chairman calls for banning Huawei from Canada’s 5G network: BloombergCanadian telecom provider Rogers Communications Inc’s vice chairman, Philip Lind, said on Thursday that Huawei Technologies Co should be banned from Canada’s 5G network, Bloomberg reported. | |
U.S. dollar stores warn of tariff hit after reporting upbeat salesTwo of America’s largest dollar store chains warned on Thursday that rising tariffs due to escalating trade tensions between Washington and Beijing would hit U.S. shoppers, after reporting strong quarterly sales that sent their shares up about 6%. | |
Barclays Is Tired Of Taking The Tesla “Blue Pill”, Slaps It With $150 Price TargetBetter late than never. After last week’s onslaught of sell side downgrades of Tesla, Barclays joined the party, and on Thursday it slapped the second lowest street $150 price target on the company (Vertical Group’s Gordon Johnson has the lowest at $54) and highlighted a scenario that could see shares go as low as $133. Analyst Brian Johnson said that the automaker could be relegated to the status of becoming just a “niche luxury carmaker”, an angle that many Tesla skeptics have insisted would have been a better path for Tesla from the get go. Barclays predicts that there isn’t much left of the blissfully ignorant illusionary view on Tesla, stating that the company’s “blue pill” call option value now appears far out of the money. Barclays also predicts that it could be time for the rest of the market to embrace the harsh realities and brutal truths of the dying Tesla narrative. Johnson’s note suggests that recent price action, “even in the face of a successful fund raise” indicated that market participants are starting to take the “red pill”. As a result, Barclays lowered its target on the company to $150 from $192, saying that – despite Elon Musk’s recently leaked email claiming “great” demand – that demand for the Model 3 has stagnated in the U.S. | |
When Will The FBI Place Informants In Bernie Sanders’ 2020 Campaign?If the 2016 US election taught us anything, it’s that the FBI feels it’s necessary to send people to spy on the campaigns of candidates who might have ties to Russia. We’ve also learned that the agency’s bar for launching a massive counterintelligence investigation is incredibly low – spending what President Trump says was $40 million based on flimsy rumors that Russia had ‘dirt’ on Hillary Clinton. | |
Buchanan: Is The Liberal Hour Ending In The West?Authored by Patrick Buchanan via Buchanan.org,
Well, “stupid” they may be, and, yes, they do love their countries, but last week they gave Juncker a thrashing, as they shook up the West and the world. Elections in the world’s largest electoral blocs — the 28-nation EU, and an India of 1.3 billion people — showed that the tide of nationalism continues to rise and spread across Europe and Asia. In India, the Hindu Nationalist BJP party of Prime Minister Narendra Modi won a smashing victory. So strong was Modi’s showing that he rushed to reassure non-Hindus, especially India’s 200 million Muslims, that they remain equal citizens. But in India the Hindu hour is at hand. Nigel Farage’s Brexit Party, formed just months ago, ran first in Britain with 31%. No other party came close. Labor won 14% and Prime Minister Theresa May’s Tories ran 5th with 9%, a historic humiliation. In the French elections, Emmanuel Macron’s party lost to the National Rally of Marine Le Pen, whom he had defeated 2-1 in the last presidential election. Matteo Salvini’s populist-nationalist League, with 34%, ran first in Italy in a showing that could lead to national elections that could make him prime minister. The nationalist Law and Justice Party in Poland and the populist Fidesz Party of Viktor Orban in Hungary … | |
Chinese Man Behind Viral “Trade War” Song Debuts Hymn Praising HuaweiLast week we reported that the Sino-American trade war now has a song, titled “Trade War,” had gone viral on the largest Chinese social media platforms. Now, the man behind “Trade war,” has written two more nationalistic songs praising Huawei and its “ironman” founder Ren Zhengfei. Zhao Liangtian’s original anti-American anthem begins with a chorus singing: “Trade war! Trade war! Not afraid of the outrageous challenge! Not afraid of the outrageous challenge! A trade war is happening over the Pacific Ocean!”
The song also included lyrics such as: “if the perpetrator wants to fight, we will beat him out of his wits.” The song, set to a tune of an anti-Japanese song from the 1960s, reveals the tsunami of anti-US sentiment spreading across the country. Liangtian told Bloomberg earlier this month: “Since the trade war broke out, I felt t … | |
Steep FDI drop jolts India into course correction modeSteep FDI drop jolts India into course correction mode The government is examining India’s foreign direct investment policy to look for new areas. | |
All those who made it to Modi 2.0 CabinetAll those who made it to Modi 2.0 CabinetAmit Shah, Jaishankar among 25 Cabinet ministers. Sushma Swaraj, Rajyavardhan Rathore left out. | |
How a startup is fighting India’s water crisisHow a startup is fighting India’s water crisisHyderabad-based startup Vassar Labs is taking small steps to solve India’s water crisis. | |
Second Estimate 1Q2019 GDP Growth Slightly Lowered to 3.1 %Written by Steven Hansen The second estimate of first quarter 2019 Real Gross Domestic Product (GDP) was lowered from the advance estimates +3.2 % to +3.1 %. | |
Fat-shaming kids may make them even more overweightBullied youths gained 33% more weight each year than those who weren’t teased. | |
Metals Stocks: Gold futures look to settle at a roughly 2-week highLackluster trading in gold futures Thursday gives way to a solid move higher, as tepid trade in equity markets and persistent worries about U.S.-China trade tensions and sluggish global economic growth help lift prices toward their highest finish in two weeks. | |
The Tell: S&P 500 near fair value, says analyst who called stock-market selloff, but beware of ‘overshoots’Stock-market weakness probably has a way to go, but the S&P 500 is near fair value, says Barry Bannister, head of institutional equity strategy at Stifel Nicolaus. And investors should remain aware that “overshoots are the norm” in the current market environment, he says. |
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