09Jul2019 Midday Update: Wall Street Has Recouped Most Of Morning Opening Losses, DOW Down Almost 100 Points, Nasdaq Up 0.3%, Stocks Remain Mixed On Trade Concerns

Here is the current market situation from CNN Money

North and South American markets are mixed. The Bovespa is higher by 0.42%, while the IPC is leading the S&P 500 lower. They are down 0.29% and 0.07% respectively.

Doubts over Deutsche Bank turnaround plan dent shaky shares

Deutsche Bank shares extended losses on Tuesday on investor doubts that its chief executive can revive the lender by shrinking the investment bank and returning to its roots as banker to corporate Germany.

Exclusive: Germany’s Bayer seeks animal health merger with Elanco – sources

Bayer has approached U.S. drug firm Elanco Animal Health to discuss a possible combination of their pet-health businesses to create an industry giant, three sources familiar with the matter told Reuters.

U.S., China to relaunch talks with little changed since deal fell apart

The United States and China are set to relaunch trade talks this week after a two-month hiatus, but a year after their trade war began there is little sign their differences have narrowed.

U.S. expects China to buy farm products during trade talks: Kudlow

White House economic adviser Larry Kudlow on Tuesday said China was expected to move forward with agricultural purchases from the United States even as trade talks resumed between the two countries, with top officials slated to talk by phone this week.

Wall St. edges lower as trade concerns weigh, big rate cut hopes fade

The S&P 500 and the Dow Industrials were on track to fall for the third straight session on Tuesday, as investors worried over warnings of a hit to earnings from the U.S.-China trade dispute and reined in hopes of a steep interest rate cut this month.

Stocks drop as trade tensions threaten earnings

Stock markets around the world broadly fell on Tuesday as trade tensions weighed on the outlook for corporate earnings and as hopes dwindled over a hefty U.S. interest rate cut this month.

The $280,000 lab-grown burger could be a more palatable $10 in two years

Lab-grown meat, first introduced to the world six years ago in the form of a $280,000 hamburger, could hit supermarket shelves at $10 a patty within two years, European start-ups told Reuters.

Deutsche Bank in partnership talks with SoftBank-backed OakNorth: source

Deutsche Bank is in talks with SoftBank-backed British fintech firm OakNorth to use the latter’s credit analysis and monitoring platform, a source with knowledge of the discussions told Reuters.

Oil edges up on supply cuts; trade worries limit gains

Oil futures edged up on Tuesday as OPEC supply cuts and Middle East tensions kept global benchmark Brent crude above $64 a barrel, while gains were limited by the U.S.-China trade dispute that has dragged on the global economy and crimped oil demand.

Peso Plunges After Mexican FinMin Unexpectedly Resigns, Questions “Conflicts Of Interest”

The mexican peso is sliding fast this morning following the surprise resignation of finance minister Carlos Urzua.

Urzua tweeted his resignation letter: “I appreciate the opportunity to have been able to serve Mexico.”

Agradezco la oportunidad de haber podido servir a México. pic.twitter.com/aaa2cIa9uI

— Carlos Urzúa (@CarlosUrzuaSHCP) July 9, 2019

Urzua proclaimed that “administration decisions were made without sufficient backing” and added that “some government officials held conflicts of interest.”

And the immediate reaction is selling pesos on uncertainty…

Egypt Seizes Tanker Carrying Iranian Crude

Tehran’s threats of retaliation against the UK for seizing a tanker carrying Iranian crude oil for export have prompted a British vessel to shelter in the Gulf, but the rest of the world doesn’t seem to be taking them too seriously.

Martin Armstrong Blasts “More Insanity From The Climate Group” Without Supporting Evidence

Authored by Martin Armstrong via ArmstrongEconomics.com,

Here we go again.

Mass Exodus: 11 Members Of Tesla’s Autopilot Team Have Left In The Past Few Months

Several key members of Tesla’s Autopilot team have left the company together after CEO Elon Musk expressed unhappiness with the progress in developing fully automated driving capabilities, according to The Information. Musk is also reportedly upset that some team members have told him that they can’t meet his timelines for developing the technology.

Over the last few months, at least 11 members of the Autopilot software team have left. This represents close to 10% of the total group. Several of the remaining managers are now working directly with Musk. These departures followed the removal of the Autopilot group’s leader Stuart Bowers in May.

Musk’s unhappiness with the Autopilot group is apparently due to difficulties they have had in adapting the software, which was designed to steer vehicles on highways and in cities. Specifically, the team has been working on trying to get the software to work in cities to achieve Musk’s already promised goal of “full self driving”.

IndiGo founders’ feud: Gangwal flags serious governance lapses

IndiGo founders’ feud: Gangwal flags serious governance lapsesGangwal in a letter to Sebi alleged “collapsing corporate governance standards” at IndiGo.

One of world’s worst polluters gets an e-car

One of world’s worst polluters gets an e-carSouth Korea’s Hyundai Motor Co. on Tuesday launched its Kona SUV, a full-fledged electric vehicle, in India.

Look who’s winning the US-China trade war

Look who’s winning the US-China trade warBangladesh’s garment industry is sensing an opportunity to sell in US. And it has Trump’s war with China to thank.

May 2019 Headline JOLTS Job Openings Rate Continues To Predict Lower Employment Growth

Written by Steven Hansen

The BLS Job Openings and Labor Turnover Survey (JOLTS) can be used as a predictor of future jobs growth, and the predictive elements show that the year-over-year growth rate of unadjusted private non-farm job openings is in contraction or close to it.

The Technical Indicator: S&P 500 nails near-term target (2,995), sustains July break to record territory

The major U.S. benchmarks are off to a bullish third-quarter start, writes Michael Ashbaugh, with each index staging an orderly pullback from its recent record close.

How Amazon and Walmart’s next-day shipping could bust your budget

Etsy says it will offer free shipping to shoppers spending $35 or more.

Elon Musk ‘unhappy’ with Tesla’s Autopilot team, report says

Tesla Inc. Chief Executive Elon Musk is “unhappy” with his company’s progress in developing fully autonomous vehicles, and at least 11 members of the software team have left in the past few months, according to Tuesday report on The Information.