21Jun2019 Pre-Market Commentary: Wall Street Futures Edge Lower On Reports Trump Ordered US Airstrikes On Iran, DOW Futures Down 30 Points, WTI Crude Steady In The 57 Handle

Here is the current market situation from CNN Money

European markets are mixed. The FTSE 100 is higher by 0.11%, while the DAX is leading the CAC 40 lower. They are down 0.06% and 0.03% respectively.

Airlines avoid parts of Iran-controlled airspace after U.S. regulator’s order

Some global airlines are re-routing flights to avoid Iran-controlled airspace over the Strait of Hormuz and Gulf of Oman, they said on Friday, after the U.S. aviation regulator barred its carriers from the area until further notice.

Foxconn picks chip-unit head for chairman, as Gou seeks Taiwan presidency

Apple Inc supplier Foxconn chose chip-unit boss Liu Young-way as chairman on Friday to succeed Terry Gou, who is preparing to contest Taiwan’s presidential elections next year.

Brent oil up 5% this week on fears of U.S.-Iran conflict

Brent oil rallied above $65 per barrel on Friday and was on track for a 5% gain this week on fears of a U.S. military attack on Iran that would disrupt flows from the Middle East, which provides more than a fifth of the world’s oil output.

European central bankers claim oversight over Facebook’s cryptocurrency

Three European central bankers are claiming oversight over Facebook’s planned virtual currency to ensure it will not jeopardize the financial system or be used to launder money.

Futures slip after strong rally as Iran tensions rise

U.S. stock index futures dipped on Friday, after a strong rally in the prior session that helped the S&P 500 hit a record high, as rising tensions between the United States and Iran kept investors on edge.

Exclusive: Chevron Phillips Chemical in bid to acquire Nova Chemicals – sources

Chevron Phillips Chemical Company, a joint venture between Chevron Corp and Phillips 66, has offered to acquire Nova Chemicals Corp for more than $15 billion including debt, people familiar with the matter said on Thursday.

Huawei says shipped 100 million smartphones this year as of end-May

Huawei Technologies said on Friday it has shipped 100 million smartphones this year as of May 30.

Huawei executive says European smart phones sales up ‘in past few days’

Huawei smart phones sales in western European countries have risen “in the past few days” as customers grow more confident the Chinese company will weather U.S. sanctions levied last month, a European executive said on Friday.

Dollars in the detail: banks pan for gold in ‘data lakes’

From sending special offers on restaurants to burger-loving current account holders to selling anonymized credit card records, banks are racing to monetize the huge troves of data they hold.

It’s Back: All Bitcoin Futures Trade Above $10,000 As Institutional Open Interest Explodes

It’s not just gold that is celebrating the return of the race to the rates bottom which ensures that real rates around the globe are (or will soon be) negative for a long time, with analysts starting to whisper that NIRP may be coming to the US, making inert, zero-yielding assets attractive.

Bitcoin, left for dead as recently as one year ago, has exploded in the past two months, and after trading at $4,000 at the start of April, the cryptocurrency has been soaring and overnight spiked to just shy of $10,000, trading at $9,810 at last check.

Trying To Prevent Recessions Leads To Even Worse Recessions

Authored by Jesse Colombo via RealInvestmentAdvice.com,

Deutsche Bank strategists Jim Reid and Craig Nicol wrote a report this week that echos what I and other Austrian School economists have been saying for many years: actions taken by governments and central banks to extend business cycles and prevent recessions lead to even more severe recessions in the end.

Iran Says “It Refrained” From Shooting Down US Plane With 35 People On Board

Following reports that the Trump Administration backed down from a ‘retaliatory strike’ against Iran, the commander of the IRGC offered some helpful “color” that we’re sure will help assuage Washington’s anger.

During a statement on Friday, Sardar Hajizadeh, commander of the Air Force’s Corps of Air Force, revealed that Iran refrained from shooting down an American P8 Spy Plane flying nearby which Iran said had 35 people on board. According to Iran’s Tasnim News Agency, the plane had been flying with the drone that had been shot down.

According to Hajizadeh, the spy plane left the area after it received Iran’s warnings.

Global Stock Rally Fizzles On Quad-Witching Friday As Iran Tensions Spike, Gold Hits 6 Year High

The global stock rally that took all US assets, including stocks, investment grade and junk bonds, to all time highs while sending gold and Treasuries soaring on Thursday, fizzled as world stocks fell on Friday amid worries about a U.S. military strike against Iran, while the ongoing US-China trade conflict took the edge off the central bank-induced rally from earlier in the week.

Director after director jumps ship as law catches up with peers

Director after director jumps ship as law catches up with peersConcerns over damaged reputations and legal liability behind such departures.

Rlys wants to go the LPG way on subsidies

Rlys wants to go the LPG way on subsidiesRailways recovers only 53% of the cost of a ticket from a passenger, which puts additional pressure on the network.

H-1B staffing firms hit by Trump’s tantrums

H-1B staffing firms hit by Trump’s tantrumsStaffing companies hire nearly 17 million temporary and contract employees annually in the US.

Futures Movers: Gas futures surge, oil gains, amid reports of refinery fire and ongoing Mideast tension

Oil futures extended this week’s rally Friday after U.S. prices scored their highest settlement this month a day earlier, while gasoline futures shot higher amid reports of a fire at a 150-year-old refinery complex in Philadelphia.

Cannabis Watch: Cannabis stocks rise as investors cheer shareholder approval of Canopy megadeal

Cannabis stocks mostly climb Thursday afternoon, as investors cheer the shareholder approval of Canopy Growth Corp. and Acreage Holdings Inc.’s planned $3.4 billion megadeal.

Cannabis Watch: Canopy Growth earnings show decline in recreational pot sales since launch of legal weed in Canada

The world’s largest pot company said Thursday that recreational pot sales in Canada declined from the launch quarter, but continued to promise increased production of marijuana to meet demand.