Written by Gary
US main indexes are mostly flat, trading along the unchanged line (SPY -0.1%). US crude inventories have fallen more than expected.
Here is the current market situation from CNN Money | |
 | North and South American markets are mixed. The IPC is higher by 0.27%, while the Bovespa is leading the S&P 500 lower. They are down 0.18% and 0.02% respectively. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| Senior U.S.-Chinese trade negotiators to confer before Trump-Xi G20 meetingThe top U.S. trade negotiator said on Wednesday it is in the interests of China and the United States to have a successful trade pact and he expects to confer with a senior Chinese official before next week’s G20 summit in Japan where President Donald Trump and Chinese President Xi Jinping are set to meet. |
| CEOs of some U.S. firms to meet Chinese Premier Li this week: BloombergTop executives of at least five U.S. companies are scheduled to meet Chinese Premier Li Keqiang this week, Bloomberg reported on Wednesday, citing people familiar with the matter. |
| Macron to discuss Renault-Nissan with Japan’s Abe next week: Elysee officialFrench President Emmanuel Macron will discuss the situation regarding the alliance between carmakers Renault and Nissan with Japanese Prime Minister Shinzo Abe next week, said an official at Macron’s Elysee office. |
| Czech owners of Skoda, Volkswagen cars qualify for $23 million compensationA Prague district court has ruled that a number of Czech owners of Skoda and Volkswagen cars qualify for 533 million crowns ($23.30 million) in compensation linked to VW’s diesel emissions scandal, the ruling seen by Reuters said. |
| Wall St. takes a breather with all eyes on Fed meetingWall Street’s main indexes took a pause on Wednesday, after a rally the previous day, as investors held back from making big bets ahead of the Federal Reserve’s policy statement that is expected to lay the groundwork for future interest rate cuts. |
| Explainer: Who pays Trump’s tariffs, China or U.S. customers and companies?U.S. President Donald Trump says China pays the tariffs he has imposed on $250 billion of Chinese exports to the United States. |
| Sullenberger tells Congress 737 MAX pilots should get new simulator trainingChesley “Sully” Sullenberger, who in 2009 landed a US Airways flight safely on the Hudson River in New York, told a congressional panel on Wednesday that pilots of the now-grounded 737 MAX should get new simulator training before the plane returns to service. |
| Oil prices little changed on U.S. inventory data, hopes for trade dealOil futures edged up on Wednesday as government data showed U.S. crude inventories fell more than expected, while the prospect of a trade deal between Washington and Beijing also supported prices. |
| Factbox: U.S. companies warn on Trump’s tariffsA host of U.S. consumer companies have warned that costs related to tariffs on goods imported from China will hit their profits. |
| MSM Pundits Slammed For Defending AOC Holocaust ComparisonRep. Alexandria Ocasio-Cortez (D-NY) is taking heat this week after she casually compared the border crisis to the holocaust, drawing wide condemnation from Jewish groups and others who thought her comments were in extremely poor taste.
In response, the Jewish Community Relations Council of New York slammed AOC, writing in a Tuesday statement: “We are deeply disturbed by the language used in your recent Instagram live video which seeks to equate the detention centers on America’s southern border with Nazi-era Concentration Camps.” “The terms ‘Concentration Camp’ and ‘Never Again’ are synonymous with and evocative of the atrocities committed by Adolf Hitler’s Nazi Germany,” the letter continues. |
| The Fed’s Many Options For TodayAuthored by Bryce Coward via Knowledge Leaders Capital blog, Today will obviously be one of the most important news days of the year for financial markets with the Fed expected at the very least to signal that a rate cutting cycle is in the offing. Indeed, since the Fed last raised rates the yield curve has inverted at the important 10Y-3M spread, inflation expectations as priced by the bond market have plummeted from 2.2% to just 1.6%, and the bond market is already pricing in about 75bps of cuts by the end of the year. We also have several important voting Fed members on record signaling that a lower Fed Funds rate will be appropriate at some point in 2019. Since all signs point to a rate cutting cycle, the questions are simply around when it will start, by how much will they initially cut (25bps or 50bps), and will the balance sheet policy change. Currently, the market only expects a 20% chance of a 25bps cut in the Fed Funds rate tomorrow and the market expects no change to the current balance sheet runoff policy. Clearly, as is nearly always the case when it comes to Fed meetings, there is an opportunity for the Fed to surprise either hawkishly or dovishly today. By our math there are four probable outcomes of the meeting. |
| The Bull-Bear Debate Rages, JPMorgan Breaks It DownInvestors are buying stocks, buying bonds, and buying gold… |
| Americans Aren’t Paying Their Credit Card Debt. What Could Go Wrong?Authored by Chloe Anagnos via The American Institute for Economic Research, Student-loan debt hit an all-time high of $1.4 trillion in the first quarter of 2019, Experian claims. Considering that this is an increase of 116 percent in the last decade, it’s safe to say that young adults are starting their lives with a crushing debt burden. But student loans aren’t the only reason they are struggling: auto loans and credit cards are also hurting their pocketbook. |
| PM’s economic aides rebut Subramanian’s GDP claimsPM’s economic aides rebut Subramanian’s GDP claimsThe EAC-PM asserted that India’s GDP estimation methodology is on par with its global standing. |
| Amended proposal for Air India’s sale soonAmended proposal for Air India’s sale soonLast year’s attempts by the government to sell its stake in Air India didn’t attract any bidders. |
| Why IT cos won’t pay more for your H-1B visaWhy IT cos won’t pay more for your H-1B visaIndian IT firms may not be too keen on using a window for faster processing of H-1B visas. |
| NerdWallet: The ‘good enough’ theory and how you can apply it to your financesInstead of being paralyzed by indecision, sometimes it’s best to choose and move on. |
| NerdWallet: Questions about working in retirement: How it can affect your Social Security and other financesWorking in retirement can come with unexpected costs and hazards. Here’s how to plan for them. |
| NerdWallet: Here’s what you need to know about the new tools to jump-start your creditBoth Boost and UltraFICO have some quirks—here’s the lowdown and how to decide if you should use them. |
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