25Jun2019 Pre-Market Commentary: Wall Street Futures Are Mostly Flat This Morning, DOW Down Six Points, Investors Focusing On Fed For More Clarity On Interest Rates

Here is the current market situation from CNN Money

European markets are lower today with shares in France off the most. The CAC 40 is down 0.14% while Germany’s DAX is off 0.12% and London’s FTSE 100 is lower by 0.02%.

Futures lower on Iran tensions, trade worries

U.S. stock futures were pulled lower by Iran tensions and trade worries on Tuesday, with investors focusing on Federal Reserve officials for more clarity on interest rates.

AbbVie to buy Botox-maker Allergan in $63 billion deal

Drugmaker AbbVie Inc said on Tuesday it would buy Botox-maker Allergan Plc for about $63 billion, grabbing control of by far the biggest name in medical aesthetics to help reduce its reliance on blockbuster arthritis treatment Humira.

Central bankers weigh up Facebook’s Libra plan

A senior member of the Swiss National Bank said he was open-minded about Facebook’s cryptocurrency project, while an Italian official looked for more information as central bankers try to get to grips with the initiative.

UK watchdog wants more detail on Facebook’s Libra coin plan

There was “insufficient” detail to understand Facebook’s plans to expand into payments and launch its own Libra coin, Britain’s Financial Conduct Authority (FCA) said on Tuesday.

Oil prices drop on demand worries, Saudi supply pledge

Oil prices inched lower on Tuesday, weighed down by concerns over declining crude demand and a Saudi pledge to offset any shortfall from countries hit by sanctions, as the market shrugged off risks to supply linked to tensions around Iran.

BMW’s hybrid cars to switch to electric only mode in polluted cities

BMW’s new hybrid cars will automatically switch off their combustion engines in heavily polluted inner city areas and use pure electric driving mode as a way to cut vehicle emissions, the carmaker said on Tuesday.

Trade stress, Iran tensions hits stocks, dollar frets on Fed doves

European shares were spooked by Iran tensions and trade jitters on Tuesday, while the risk of more dovish talk from the Federal Reserve inflated gold to six-year highs and stoked demand for safe-harbor currencies like the yen and Swiss franc.

Fund supermarket Allfunds bulks up with Credit Suisse deal

Spain’s Allfunds Group is buying Credit Suisse’s business-to-business investment fund platform InvestLab for an undisclosed sum as the investment services industry consolidates to reap the benefits of scale.

With job intact, Nissan’s CEO pins Renault alliance on mutual respect, flags inequality risk

Nissan Motor Co Ltd on Tuesday threw cold water on hopes for a quick fix to strained relations with France’s Renault SA, saying inequality between the partners could unravel their two-decade-old automaking alliance.

Rate-Cuts May Not Be Enough

Authored by Lance Roberts via RealInvestmentAdvice.com,

For the fourth time, since the end of 2017, the market has set an all-time high. Each previous all-time high has led an almost immediate sell-off.

Will this time be different?

Such is the belief currently which is being driven primarily by the “Pavlovian” response of a more “accommodative” Federal Reserve which is expected to cut rates sharply by the end of this year. It is also the “hope” there will be a resolution to the ongoing “trade war” with China at the G-20 Summit next week.

Nowhere was this “Pavlovian” response more evident than in Jeffry Bartash’s latest post for MarketWatch:

“A stream of negative news pointing to a slower economy has not only failed to halt the latest bull run on Wall Street, it’s actually encouraged investors to snap up more stocks.

In the sometimes wacky world of Wall Street, the reason is understandable enough. Investors expect weaker U.S. growth to force the Federal Reserve to cut interest rates and supply more stimulus to the economy. Lower rates also make stocks more attractive investments.”

After a decade of near zero interest rates, $33 Trillion in liquidity, and a seemingly unstoppable “bull market run,” which was caused by zero-rates and an endless stream of liquidity, it is not surprising investors expect the same outcome – forever.

However, assumptions are always a dangerous thing. Markets have a nasty habit of doing exactly the opposite of what …

SpaceX’s Latest Launch Ends With Fiery Crash

Though it had carried out a handful of successful launches, SpaceX’s legacy of launch-day malfunctions is well recognized by now, and will likely create problems for CEO Elon Musk as he pushes to launch the company’s first manned space flight by the end of the year.

“It Would Be An Earthquake” – Three Chinese Banks Tumble After US Threatens To Cut Them Off From SWIFT

In news that initially did not receive much prominence, on Monday a US judge found three large Chinese banks — reportedly the state-owned Bank of Communications, China Merchants Bank, and Shanghai Pudong Development Bank — in contempt for refusing to comply with subpoenas in an investigation into North Korean sanctions violations. This could open the door for them to be cut off from the US financial system, i.e. SWIFT.

“Should it occur, to say that China will not take that well is as large an understatement as one can conceive of. It would be an earthquake”, commented Rabobank’s Michael Every.

Global Stocks, S&P Futures Hit By Iran Tensions, G20 Fears

US equity futures dipped in the red, following European and Asian shares lower, amid renewed Iran tensions and trade jitters ahead of this week’s G-20 meeting…

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Why New Delhi should take Acharya’s exit very seriously

Why New Delhi should take Acharya’s exit very seriouslyAcharya, who had cautioned against chipping away at the central bank’s autonomy last year, quit abruptly.

How Jaitley’s 5 years affected your budget

How Jaitley’s 5 years affected your budgetThe budgets Jaitley presented shared a common theme — they taxed the rich to hand sops to the middle class.

Firms with multiple offices get a GST shocker

Firms with multiple offices get a GST shockerServices provided by an organisation in one state to another office in another state will face GST.

Market Snapshot: Stock-index futures edge lower ahead of Fed speakers, including Powell

U.S. stock-index futures drift lower as investors await remarks by Federal Reserve Chairman Jerome Powell and other central bankers and look ahead to a meeting between President Donald Trump and Chinese leader Xi Jinping this weekend.

Mark Hulbert: Chances are the U.S. stock market will be higher by year-end, but there’s a catch

Because of market efficiency, there’s always a better-than-even chance of higher stock prices.

Next Avenue: Four questions to ask when looking for a 55+ active adult community

If you’re considering an age-restricted community, finding one that’s right for you takes work.