Written by Gary
US stock markets drift leading up to Independence Day on Thursday (SPY -0.3%). Markets muted as trade optimism fades.
Here is the current market situation from CNN Money | |
 | North and South American markets are mixed today. The Bovespa is up 0.36% while the IPC gains 0.02%. The S&P 500 is off 0.21%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| Arizona to pull incentive for Nike plant over sneaker recallArizona will withdraw financial incentives for Nike Inc’s manufacturing plant in the state after the sportswear maker pulled the release of a sneaker that featured a colonial-era version of the American flag, Governor Doug Ducey said on Tuesday. |
| Major companies call on U.S. Supreme Court to rule in favor of LGBT workersMore than 200 U.S. companies, including Amazon , Alphabet Inc’s Google , and Bank of America , on Tuesday urged the U.S. Supreme Court to rule that federal civil rights law prohibits discrimination against gay and transgender workers. |
| Macron proposes Lagarde to head ECB in push to end EU jobs deadlockFrench President Emmanuel Macron sought to break a deadlock over the EU’s top jobs on Tuesday by proposing France’s Christine Lagarde, now head of the International Monetary Fund (IMF), to lead the European Central Bank (ECB), diplomatic sources said. |
| Wall St. muted as trade optimism fadesWall Street’s main indexes were subdued on Tuesday, as a trade truce-fueled relief rally in the previous session fizzled out after the United States threatened additional tariffs on European goods. |
| Oil dives 3% on demand worries even as OPEC, allies extend cutsOil prices fell more than 3% on Tuesday, even after OPEC and allies including Russia agreed to extend supply cuts until next March, as weak manufacturing data had investors worried that a slowing global economy could dent oil demand. |
| Automakers post mixed U.S. June sales; SUVs, truck sales stay strongMajor automakers on Tuesday posted mixed U.S. sales results for June and the second quarter, with demand still fairly strong for SUVs and pickup trucks while passenger car sales continued a long-running decline. |
| Irish regulator opens third privacy probe into AppleApple’s main regulator in the European Union, Ireland’s Data Protection Commissioner (DPC), has opened a third privacy investigation into the iPhone maker over the last few weeks, a spokesman for the DPC said on Tuesday. |
| Huawei founder downplays effect of promised Trump reprieve: FTU.S. President Donald Trump’s move to relax a ban on Huawei Technologies Co Ltd’s equipment will not have “much impact” on its business as it adjusts to a new era of American hostility, the Financial Times quoted Huawei founder Ren Zhengfei as saying on Tuesday. |
| Relief rally fades fears of expanding trade warsThe global stocks rally that followed progress on U.S.-China trade relations stalled on Tuesday, pressured by weak manufacturing data from the euro zone and the United States, and as Washington threatened additional tariffs on European goods. |
| Why A Third Of Americans Have Cut Spending Over The Last YearA third of all Americans have cut their spending this year, according to a new survey by CNBC. And for a country indoctrinated by a system that encourages spending and abhors savings, readers may be surprised to learn that a majority of the respondents, that 54% of survey respondents still described themselves as savers. The survey polled men and women across the country, and looked at changes in people’s money behaviors. Many people are taking a critical look at their spending and preparing for “what ifs”, the survey concluded. |
| Stocks & Bond Yields Are Tumbling; Traders Suggest Pence/Putin Anxiety?Following headlines that both US VP Pence and Russian President Putin had cancelled events, stocks and bond yields have accelerated their declines… |
| Here’s What Military-Loving Trump Is Planning For The 4th Of JulyAuthored by Robert Wenzel via TargetLiberty.com, How twisted has history gotten? |
| Pence Recalled To White House As Putin Pulls Out Of Scheduled Event; Officials Say “No Cause For Alarm”Update 3: RT is reporting that Putin is meeting with his defense minister about this morning’s deadly fire aboard a Russian deep submersible. It’s still unclear what Pence and the EU Security Council are doing. Now, officials are clarifying that Air Force Two never actually left Washington.
Meanwhile, the National Guard has confirmed that gunshots are being investigated at the Pease Air National Guard base in Portsmouth, New Hampshire. It’s unlikely that has anything to do with Pence, but it’s another strange coincidence.
* * * Update 2: It could be just a coincidence, but the timing is certainly curious. Not long after Pence turned around to head back to Washington Tuesd … |
| No one wants to buy Anil Ambani’s most valued assetNo one wants to buy Anil Ambani’s most valued assetTelcos may steer clear of buying RCom’s airwaves – even if put to sale – to avoid clashes with the DoT. |
| King coal’s future in India is far from bleakKing coal’s future in India is far from bleakCoal may account for half of India’s power generation in 2030 despite a solar and wind energy boom, a report said. |
| 10 challenges you may face while filing ITR10 challenges you may face while filing ITRSome incomes are tax-free, some allow deductions. In such a scenario, computing taxable income is challenging. |
| Cannabis Watch: Cannabis stocks hit by holiday slump but Aleafia shines after getting Australia export licenseCannabis stocks fell Tuesday, tracking declines in the broader market where excitement about a U.S.-China trade truce had dissipated on concerns about how quickly a deal can be achieved. |
| Upgrade: These Arizona retirees ‘couldn’t afford’ America — now they live their dream life on $2,000 a month in EcuadorThey haven’t been back to the U.S. in years, and say they don’t miss it much (except for Home Depot and some friends). |
| Upgrade: This is the No. 1 ZIP code in America for baby boomersA higher percentage of boomers live in these 20 zip codes than any others in the U.S. |
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