17Jun2019 Pre-Market Commentary: Wall Street To Open Fractionally Higher, DOW Futures Up 11 Points, Stocks, Dollar Hold Gains With All Eyes On Fed Meeting

Here is the current market situation from CNN Money

European markets are mixed today. The CAC 40 is up 0.24% while the DAX gains 0.02%. The FTSE 100 is off 0.12%.

Fashion house Chanel reaffirms its independence as sales and profits rise

Luxury fashion group Chanel, whose star designer Karl Lagerfeld passed away earlier this year, reported higher annual sales and profits on Monday and once again reaffirmed its independence, stating it was not for sale.

Deutsche Bank to set up 50 billion euro bad bank

Deutsche Bank is planning to overhaul its trading operations by creating a so-called bad bank to hold tens of billions of euros of non-core assets, a source close to the matter said on Monday.

Stocks, dollar hold gains with all eyes on Fed meeting

Share markets couldn’t add to recent gains and government bond yields inched fractionally higher on Monday, as investors hunkered down for what is shaping up to be a crucial week for global monetary policy.

Pfizer bolsters cancer portfolio with $10.64 billion deal for Array

Pfizer Inc said on Monday it would acquire Array Biopharma Inc for $10.64 billion in cash to beef up its cancer portfolio as it faces rising generic competition for its blockbuster drugs.

Boeing dealt new blow as Airbus launches long-range A321

Boeing suffered a fresh setback on the opening of the Paris Airshow on Monday as its engine supplier announced a delay for the U.S. planemaker’s all-new 777X jet while Airbus launched a rival plane aimed at the middle of the market.

Oil prices fall 1% as economic worries outweigh tanker tensions

Oil prices slipped more than 1% on Monday as signs of an economic slowdown amid international trade disputes began to outweigh supply fears stoked by attacks on oil tankers in the Gulf of Oman last week.

U.S. chipmakers quietly lobby to ease Huawei ban

Huawei’s American chip suppliers, including Qualcomm and Intel, are quietly pressing the U.S. government to ease its ban on sales to the Chinese tech giant, even as Huawei itself avoids typical government lobbying, people familiar with the situation said.

Huawei says U.S. ban hurting more than expected, to wipe $30 billion off revenue

China’s Huawei Technologies Co Ltd has taken a harder-than-expected hit from a U.S. ban, the company’s founder and CEO Ren Zhengfei said, and slashed revenue expectations for the year.

Boeing crisis, trade tensions cast pall over air show

Safety concerns, trade wars and growing security tensions in the Gulf are dampening spirits at the world’s largest planemakers as they arrive at this week’s Paris Airshow with little to celebrate despite bulging order books.

Dollar, Bond Yields Tumble As Empire Manufacturing Survey Crashes

Against expectations of a small drop to 11.0, Empire State Manufacturing Survey collapsed – by the most on record – from +17.8 to -8.6 in June. This is the first negative print since Oct 2016.

Why Brexit Must Be Delivered (And Johnson Will Do It)

Authored by Mike Shedlock via MishTalk,

There is no question Johnson will deliver Brexit. The only question is “How?”

Huawei Braces For 60 Million Smartphone Unit Sales Plunge

As we slowly creep closer to the end of Washington’s 90-day grace period for Huawei, the company’s anxieties are rising as Huawei tries to figure out how it will sell smartphones without Google’s Android operating system.

After revealing on Monday that the company expects sales to decline as much as 60 million units across foreign markets due to the Trump Administration’s ban, a Bloomberg report detailed the company’s new strategy to help it cope with a prolonged trade fight: Focus on its domestic smartphone market, which it already dominates with a one-third market share.

Slow Start As Traders Brace For Huge Week For Global Markets

With the most important 2 weeks of the year looming dead ahead, on Monday U.S. equity futures drifted without conviction along with European stocks following a mixed session in Asia as a huge week for central-bank decisions and policy gets underway, to be followed by the highly anticipated G-20 meeting in Osaka at the end of the month. Treasuries and gold dropped, the dollar was steady and cryptos surged to new 2019 highs.

Jet’s fate sealed? No suitor willing, final descent begins

Jet’s fate sealed? No suitor willing, final descent beginsAs a way forward, lenders decided to take Jet Airways to NCLT and seek resolution under the IBC.

Will SBI’s home loan plan help borrowers?

Will SBI’s home loan plan help borrowers?SBI has decided to link its home loan interest rates to the repo rate. Here’s what this means for borrowers.

Sensex ends 491 pts down, Nifty below 11,700

Sensex ends 491 pts down, Nifty below 11,700Experts blamed weak global sentiment, liquidity concerns and cautiousness ahead of the Union Budget.

Economic Report: Empire State manufacturing index posts largest-ever drop into negative territory in June

The Empire State factor index plummeted 26 points in June and is now signaling contraction for the first time since Oct. 2016, the New York Fed said Monday.

Futures Movers: Oil extends last week’s sharp retreat as demand worries sour sentiment

Crude futures prices fall Monday as the markets digested worrisome demand updates issued last week while keeping tabs on typically price-supportive risks percolating in the Middle East.

Next Avenue: 7 money-saving tricks for your summer vacation

Save like a Jedi during peak travel season with these hacks.