01Jul2019 Market Close: Wall Street Rises On Trade Hopes, But BTFDers Save The Day, DOW Closes Up 117 Points, Gold Slips To 1384, Traders Sell The Trade-Truce News

Southwest expects Boeing 737 MAX cancellations beyond Oct. 1: CEO

Southwest Airlines expects it will have to remove the grounded Boeing Co 737 MAX jets from its flying schedule beyond the current Oct. 1 re-entry date following the discovery of a fresh safety issue, Chief Executive Gary Kelly told employees on Monday.

WPP in exclusive talks to sell Kantar stake to Bain Capital

WPP is in exclusive talks to sell a majority stake in its data analytics unit Kantar to private equity firm Bain Capital, it said on Monday, in a $4 billion deal aimed at steering the world’s biggest advertising company back to growth.

Trump says China trade talks ‘back on track,’ new tariffs on hold

The United States and China agreed on Saturday to restart trade talks after President Donald Trump offered concessions including no new tariffs and an easing of restrictions on tech company Huawei in order to reduce tensions with Beijing.

Explainer: What extra U.S. farm products could China buy?

China has agreed to make unspecified new purchases of farm products from the United States, President Donald Trump said after meeting his Chinese counterpart Xi Jinping in Japan.

Stocks rise on trade hopes, but off from earlier high

U.S. stocks climbed on Monday, but were well off highs that sent the S&P 500 to a record, fueled by gains in technology stocks on optimism for progress in U.S.-China trade talks and signs of a likely reprieve for Chinese telecom company Huawei.

OPEC extends oil cut to prop up prices as economy weakens

OPEC agreed on Monday to extend oil supply cuts until March 2020, three OPEC sources said, as the group’s members overcame their differences in order to prop up the price of crude amid a weakening global economy and soaring U.S. production.

Oil steadies on OPEC cuts, but oversupply fears persist

Oil prices pared gains on Monday after worries about oversupply persisted, pulling back from an early rally as OPEC extended supply cuts until March 2020 during a meeting in Vienna.

U.S.-China trade truce lifts global stocks, gold falls

Global stocks rose and bonds retreated on Monday as the United States and China agreed to restart trade talks at the G20 summit over the weekend, leading investors to bet that a breakthrough between the world’s two largest economies would jumpstart global economic growth.

U.S. manufacturing stumbles under weight of trade tensions

U.S. manufacturing activity slowed to near a three-year low in June, with a measure of new orders received by factories tumbling, amid growing anxiety over an escalation in trade tensions between the United States and China.

Traders Sell The Trade-Truce News But S&P Holds Record Highs

A China trade truce, surging chip stocks, and bad (economic) news that must be good ammo for The Fed to cut, BUT stocks faded all the gains – simply put, it’s never enough!!

Chinese stocks surged on the trade-truce and while they maintained gains, the afternoon session saw barely any follow-through…

All Is Not Well In ‘Deep-State’ World

Authored by James Howard Kunstler via Kunstler.com,

Stagecraft

The playwrights of yore had a neat way of resolving sticky plots: when it seemed all was lost among the confounded mortals on stage, a supernatural figure would descend from the riggings above the proscenium, lowered in a basket on a cable — Moliere liked to use an actor playing Louis XIV, his patron — to resolve, untangle, forgive, and pardon all the complications of the story. This device is known as the Deus ex Machina, God in a machine.

Facebook Employees Possibly Exposed To Highly Toxic Sarin At Work

Update: Some more details about the incident have started leaking out. Menlo Park Fire Department officials said a machine at Facebook’s mailing facility alerted employees that a package might contain Sarin. No employees were exposed to the substance. Facebook employs machines to scan all of its mail, per NBC.

UPDATE: Menlo Park Fire officials say machine at Facebook’s mailing facility alerted employees that a package might contain sarin; the employees themselves were not exposed to the substance. No official word on what the substance actually is: https://t.co/74EAGOfkud

— Riya (@loislane28) July 1, 2019

Per Menlo Fire:
– Facebook runs all their mail through a machine that can detect dangerous substances.
– Today, that machine alerted employees that a package might contain sarin; nobody was actually exposed.
– @facebook protocol is to alert the fire dept to remove/test substance

— Riya (@loislane28) July 1, 2019

* * *

According to fire officials in Menlo Park, two Facebook employees may have been exposed to Sarin at a company mailing facility, NBC Bay Area reports.

Everything You Are Being Told About Saving & Investing Is Wrong, Part 3

Authored by Lance Roberts via RealInvestmentAdvice.com,

In Part 1, we discussed the problems with the “savings” side of the equation as it relates to building wealth. Part 2, covered the issues of counting on average, or compound, returns as it relates to future outcomes.

This final chapter is going to cover some concepts which will destroy the best laid financial plans if they are not accounted for properly.

Just recently, CNBC ran a story discussing the “Magic Number” needed to retire:

“For many people who adhere to the mission, there’s a savings target they want to hit, at which point they will have reached financial independence, as they define it. It’s called their FIRE number, and typically, it’s equal to 25 times a household’s annual spending, invested in low-cost, passive stock funds. Many wannabe-early retirees aim to save between $1 million and $2 million.”

This was the savings level we addressed in part one, which is erroneous because it is based on today’s income-replacement level and not the future inflation-adjusted replacement level, as it requires substantially higher savings levels. To wit:

“The chart below takes the inflation-ad …

DHFL lenders may have found a bridge over troubled waters

DHFL lenders may have found a bridge over troubled watersThe lenders are trying to rescue DHFL with outstanding debt of over Rs 1 lakh crore and prevent a default.

Should India really trust China on 5G?

Should India really trust China on 5G?Trusting China would mean allowing Chinese to form the bedrock of cities, transport and electricity networks.

Managing fiscal deficit, the Jaitley way

Managing fiscal deficit, the Jaitley wayJaitley set the fiscal deficit at 3.2% during 2017-18 Budget & promised to bring it down to 3% in 2018-19.

Bond Report: Treasury yields climb after China-U.S. trade truce

Treasury yields rise on Monday trading after the G-20 meeting between President Donald Trump and Chinese leader Xi Jinping led to a temporary cessation of trade hostilities between the two sides.

Project Syndicate: Old age doesn’t kill economic expansions — and the usual culprits are nowhere in sight

The idea that economic expansions have some kind of natural lifespan and then die of old age has neither empirical nor theoretical support, writes Anatole Kaletsky.

As Beyond Meat soars, Conagra sees $30 billion opportunity in Gardein plant-based meat alternatives

Conagra sees a multibillion-dollar opportunity in the Gardein brand, which it acquired in the 2018 Pinnacle Foods deal.