Written by Gary
US main stock index futures are modestly higher (SPY +03%). US producer prices rose slightly in June, while the cost of goods declined.
Here is the current market situation from CNN Money | |
 | European markets are higher today with shares in France leading the region. The CAC 40 is up 0.39% while London’s FTSE 100 is up 0.11% and Germany’s DAX is up 0.01%. |
US producer prices rose slightly in June, while the cost of goods declined
What Is Moving the Markets
| Here are the headlines moving the markets. | |
 | Oil prices edge up on tropical storm and geopolitical tensionsOil prices inched higher on Friday and were on track for a weekly gain as U.S. oil producers in the Gulf of Mexico cut more than half their output because of a tropical storm and as tensions continued to simmer in the Middle East. |
| Ford, VW join forces on electric, autonomous carsFord and Volkswagen joined forces to develop autonomous and electric cars on Friday and said they were also looking at other areas of cooperation, deepening a global alliance to slash development and manufacturing costs. |
| Daimler warns on profit again, blames diesel and recall costsLuxury carmaker Daimler cut its profit forecast for the fourth time in 13 months on Friday, as it set aside more money to cover a regulatory crackdown on diesel emissions and vehicle recalls related to Takata airbags. |
| Volkswagen investment vaults Argo into top ranks of self-driving firmsVolkswagen AG’s $2.6-billion investment in Ford Motor Co’s Argo AI self-driving unit, announced on Friday, immediately vaults the two-year-old Pittsburgh-based startup into the top ranks in the sector. |
| Airbus pulls anniversary book over fraud probe concerns: sourcesAirbus has halted sales of a new book that the planemaker had commissioned for its 50th anniversary to avoid hampering the manufacturer’s attempts to win a settlement in a bribery probe, two people familiar with the matter said. |
| Exclusive: India aims to raise $47 billion from stake sales in state firms over 5 years – sourcesThe Indian government has plans to raise as much as 3.25 trillion rupees ($47.4 billion) in the next five years by reducing its stakes in some large state-owned firms to 40%, two senior government officials told Reuters, in the nation’s biggest privatization push in more than two decades. |
| Volkswagen to contribute $2.6 billion to Ford’s autonomous venture: sourceCarmaker Volkswagen will inject $1 billion in capital and $1.6 billion worth of assets into Ford’s self-driving unit, a source close to the matter said on Friday, as the two carmakers deepen a global alliance to share costs. |
| Shares flat as investors digest economic data, dollar dips for third dayWorld shares came within a whisker of posting their first weekly loss since May on Friday and the dollar was down for a third day running, as even stronger than expected U.S. inflation failed to shake bets on Federal Reserve interest rate cuts. |
| China’s June exports, imports fall as trade war takes heavier tollChina’s exports fell in June as the United States ramped up trade pressure, while imports shrank more than expected, pointing to further weakness in the world’s second-largest economy and slackening global growth. |
| Cryptos Rally As Coinbase CEO Says Trump’s Bitcoin Tweet Is “Achievement Unlocked”Despite President Trump’s criticism of cryptos, Bitcoin and its allies are bid this morning… |
| “All News Is Good News” As S&P Rises Above 3,000 While Bond Selloff AcceleratesThis is one of those morning where bad news is good news for stocks while good news is bad news for bonds… or in other words, any news is good for stocks. Despite fresh all time highs in US equities, where the S&P is set to open above 3,000 after closing at 2,999.9 on Thursday, world shares came within a whisker of posting their first weekly loss since May on Friday and the dollar was down for a third day, even as a stronger-than-expected U.S. inflation print failed to shake bets on Federal Reserve interest rate cuts. |
| China To Sanction American Companies Selling Weapons To TaiwanWhen it comes to tail risks that could cause WWIII, simmering tensions around Taiwan and Beijing’s increasingly belligerent rhetoric probably rank as one of the most probable. Since at least the beginning of the year, President Xi has warned that ‘reunification’ between Taiwan and the mainland is inevitable, and hinted that Beijing wouldn’t hesitate to attack any foreign power that tries to stop China. In response, Taiwan’s President Tsai Ing-wen has insisted that the people of Taiwan would ‘never’ tolerate rule by the Communist Party, and insisted that the island’s military would fight. In the middle of this, Washington has okayed the sale of $2.2 billion in weapons, including missiles and tanks, to Taiwan. The decision outraged Beijing, which accused Washington of interfering in its relations with its wayward province. Now – at a time when Peter Navarro said that trade talks are going “great” – Beijing is moving ahead with an unexpected escalation: China’s Foreign Ministry Spokesman Geng Shuang said in a statement that Beijing intends to impose sanctions on American companies selling arms to Taiwan. That list likely includes most of the major American defense contractors, particularly General Dynamics, the maker of the Abrams tank, and Raytheon, maker of the Stinger missile – two of the armaments being purchased by Taiwan. CHINA SAYS TO SANCTION U.S. FIRMS INVOLVED IN TAIWAN ARMS SALES U.S. GOVT IN `TOTAL DISREGARD’ OF CHINA, MINSTER WANG YI SAYS WANG YI: U.S. SHOULDN’T HAVE OFFICIAL RELATIONS WITH TAIWAN The announce comes as Chinese Foreign Minister Wang Yi warned during a trip to Hungary on Friday that Washington must end its dealings with Taiwan, saying that continuing would be like “playing w … |
| “I Thought The Numbers Would Be Bad, But This Is Ugly” – Singapore Economy Unexpectedly Tumbles; Chinese Exports SlideThe latest confirmation that global trade is suffering its gloomiest period since the financial crisis, if not outright depressionary as we pointed out two months ago… |
| Modi’s privatisation push may put Rs 3.25 trillion in govt’s kittyModi’s privatisation push may put Rs 3.25 trillion in govt’s kittyThe plan will open up a steady stream of state companies to greater private investment. |
| Infy raises guidance: Key takeaways from Q1Infy raises guidance: Key takeaways from Q1Infosys said it expects to return about 85% of the free cash flow over a five-year period. |
| Australia, India’s sugar fight gets bitterAustralia, India’s sugar fight gets bitterAustralia has formally asked the WTO to set up a panel to probe if India was breaching its obligations. |
| June 2019 Sea Container Counts Continue To Indicate A Weak EconomyWritten by Steven Hansen The June year-to-date import/export container count growth rate remains in contraction.
|
| Metals Stocks: Gold on track to end upbeat week on positive note as Fed reinforces rate-cut hopesGold futures edge higher Friday, on track to end an upbeat week on a positive note after Federal Reserve Chairman Jerome Powell did nothing to dispel expectations for a rate cut later this month and the U.S. dollar came under renewed pressure. |
| Tesla picks up two ‘car of the year’ awardsTesla Inc. vehicles win two ‘car of the year’ awards this week, with a U.K. magazine using an all-purpose British compliment to describe the Model 3 mass-market sedan and a U.S. magazine calling the Model S sold a few years ago the “ultimate car.” |
| Outside the Box: This little-known tobacco stock is a big winner from e-cigarette bansUniversal only sells raw tobacco leaf. And it offers a 5% dividend yield. |
Earnings Summary for Today
leading Stock Positions
Current Commodity Prices
Commodities are powered by Investing.com
Current Currency Crosses
The Forex Quotes are powered by Investing.com.
To contact me with questions, comments or constructive criticism is always encouraged and appreciated:
