Written by Gary
BTFDers hope to cash in on a short-lived market decline (SPY -0.8%). Two-year Treasury yield falls below 2% and Trump’s tweet about Mexico tariffs.
Here is the current market situation from CNN Money | |
North and South American markets are mixed. The Bovespa is higher by 0.43%, while the IPC is leading the S&P 500 lower. They are down 1.36% and 0.83% respectively. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
Trump vows rapid, high tariffs on Mexico unless illegal immigration endsU.S. President Donald Trump, responding to a surge of illegal immigrants across the southern border, vowed on Thursday to impose a tariff on all goods coming from Mexico, starting at 5% and ratcheting much higher until the flow of people ceases. | |
Mexican president says country will ‘overcome’ Trump threats, urges national unityMexico’s president said on Friday he would respond with “great prudence” to threats by his U.S. counterpart Donald Trump to impose tariffs on Mexican goods entering the United States, and called on Mexicans to unite to face the challenge. | |
Wall Street reels as Trump threatens tariffs on MexicoWall Street’s main indexes fell sharply on Friday, hit by fears that President Donald Trump’s shock threat of tariffs on Mexico could prove the trigger that pushes the United States into recession. | |
Global stocks drop on fears of expanding trade warGlobal equities tumbled and safe-haven sovereign bonds surged Friday after President Donald Trump’s unexpected threat of tariffs on Mexican goods added to fears that escalating trade wars will push the U.S. and other major economies into recession. | |
Pompeo tells Germany: Use Huawei and lose access to our dataThe United States raised the pressure on Western allies in a war of attrition over next-generation networks on Friday, saying countries that allow China’s Huawei to build their telecoms infrastructure could be cut off from crucial intelligence data. | |
Trump’s Mexican tariffs threat sends shudders through autos sectorShares of global automakers and suppliers tumbled on Friday after U.S. President Donald Trump threatened to impose tariffs on imports from Mexico, potentially upending a global manufacturing business model established decades ago. | |
Uber loses $1 billion in quarter as costs grow for drivers, food deliveryUber Technologies Inc reported a $1 billion loss on Thursday as the ride-hailing service spends heavily to build up its food delivery and freight businesses, sending revenues up 20% in its first quarterly report as a public company. | |
White House trade adviser Navarro sees Mexico reacting ‘favorably’ to tariff threat: CNBCWhite House trade adviser Peter Navarro said in a television interview on Friday that he believes Mexico will respond “favorably” to U.S. President Donald Trump’s demand that the country stop illegal immigration or face ratcheting tariffs. | |
How tariff hikes are squeezing the U.S. furniture businessAfter President Donald Trump announced higher tariffs on Chinese imports earlier this month, Francis O’Brien slapped a new 4% fee on every item of furniture he sells. | |
Buchanan Blasts Mueller: “Republicans Should Not Let Him Skate On This”Authored by Patrick Buchanan via Buchanan.org, What is it about special counsel Robert Mueller that he cannot say clearly and concisely what he means? | |
Trade Wars Are The ‘Enemy Of Growth:’ ReportThe Organization for Economic Cooperation and Development (OECD) warned that recent escalations in trade tensions between the US and China had stalled global growth. It seems this year’s major theme from the OECD is the deepening of the trade war starting to disrupt the volume of global trade (something we highlighted in a piece called: Global Trade Collapsing To Depression Levels), weighing on consumer demand worldwide, and hurting economic output in both developed and emerging markets.
Relations between both countries deteriorated earlier this month when President Trump announced that he would increase tariffs on $200 billion in goods from 10% to 25%. In a tit-for-tat effort, China responded by raising the tariffs on $60 billion of US goods. The OECD suggests that a re-escalation of the trade war could damage smaller economies and accelerate the global synchronized decline. | |
FOMO Unbound! Did We Just Miss The Bitcoin Bottom?Authored by Mark Jeftovic via Guerilla-Capitalism.com, I meant to write this back around May 7th or so, after I listened to “What Bitcoin Did #104” with Tuur Demester and then read his “Bitcoin in Heavy Accumulation” paper. The title of my post was supposed to be “Is Bitcoin finally putting in a bottom?” Real life got in the way of my writing, for a few weeks and then Bitcoin went and did this | |
Italy Folds? Bond Yields Tumble As Govt Promises EU To Cut Welfare CostsEuro is rallying against the dollar and BTP yields are tumbling after the Italian government has responded to EU concerns (threats of fines) about the southern European nation’s surging debtload. In what appears like a “say whatever they want to hear” statement, Italian officials promised that the country is planning to reduce the cost of new welfare measures for income support (“citizens income”) and earlier retirement age in 2020-2022, Italian news agency Adnkronos reports. Additionally, Italy will reportedly tell the EU that its structural deficit can improve without a rise in VAT:
And sure enough, the market is buying it… | |
Nirmala Sitharaman to present Union Budget on July 5Nirmala Sitharaman to present Union Budget on July 5Union minister Prakash Javadekar said that the Economic Survey will be released on 4th of July. | |
India’s unemployment rate at 45-year highIndia’s unemployment rate at 45-year highThe same figure was leaked to a newspaper in January, which said it was the highest since 1972/73. | |
Modi keeps promise, PM-KISAN expandedModi keeps promise, PM-KISAN expandedGovt also okayed Pradhan Mantri Kisan Pension Yojana under which farmers will get pension of Rs 3,000/month. | |
24 May 2019 ECRI’s WLI Growth Rate Now Marginally In ContractionWritten by Steven Hansen ECRI’s WLI Growth Index which forecasts economic growth six months forward declined and now is marginally in contraction. | |
Final May 2019 Michigan Consumer Sentiment Down From PreliminaryWritten by Steven Hansen The final University of Michigan Consumer Sentiment for May came in at 100.0 – down from the preliminary of 102.4, up from the April final of 97.2, and up from the March final of 98.4. | |
Livability: Try one of these unique dining experiences in really cool placesA shipping container food court, a restaurant in a hollowed-out airplane and a burger laundromat, for starters. | |
Your Digital Self: Make TVs relevant again — that’s what these companies are trying to doModern displays will be made to enhance your digital life, not dominate it, says Jurica Dujmovic. | |
MarketWatch First Take: Facebook continues to flail about in the eyes of several stormsFacebook Inc. is the center of another storm, with inconsistent behavior and responses over both privacy and content moderation on the social network, giving the company another black eye. |
Earnings Summary for Today
leading Stock Positions
Current Commodity Prices
Commodities are powered by Investing.com
Current Currency Crosses
The Forex Quotes are powered by Investing.com.
To contact me with questions, comments or constructive criticism is always encouraged and appreciated: