Written by Gary
US-China trade, Hong Kong protest tensions rise (SPY -0.9%). Economic uncertainty continues to dampen risk sentiment; Hong Kong protests raise some eyebrows, stir worries.
Here is the current market situation from CNN Money | |
North and South American markets are broadly lower today with shares in Brazil off the most. The Bovespa is down 1.81% while Mexico’s IPC is off 1.15% and U.S.’s S&P 500 is lower by 0.95%. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
Oregon joins states’ lawsuit to block T-Mobile, Sprint mergerOregon has joined a multistate lawsuit to block the merger of U.S. wireless carriers T-Mobile US Inc and Sprint Corp , the New York attorney general’s office, which is leading the lawsuit along with California, said on Monday. | |
AMS sparks bidding war for Osram, shines spotlight on auto businessOsram said on Monday it would consider a takeover by Austrian sensor maker AMS that trumps a competing bid by Bain and Carlyle with a cash offer valuing the German lighting group at 4.3 billion euros ($4.8 billion). | |
Oil steadies as Saudi, Kuwait signals offset demand fearsOil prices were little changed on Monday as expectations that major producers would continue to reduce global supplies faced worries about sluggish crude demand growth due to the U.S.-China trade war. | |
Wall Street slips on political tensions, recession fearsU.S. stocks slipped on Monday as political tensions around the world and fears that a prolonged U.S.-China trade war would push the global economy into recession sapped risk appetite. | |
Yen and bond bulls charge on; Argentina braces for maulingInvestors piled into gold, the safe-haven yen and bonds on Monday over nagging concerns about a prolonged U.S.-China trade war and global growth, while Argentina’s peso plunged 27% after voters handed its president an election mauling. | |
CBS shareholders to get slight premium from Viacom deal: sourcesCBS Corp and Viacom Inc are in the final stages of negotiating an all-stock merger that values Viacom at a discount to its closing price on Friday, two sources told Reuters. | |
Jet Airways sale suffers setback as two potential investors back outCreditors’ hopes of resurrecting India’s Jet Airways and salvaging some value from the bankrupt airline were dealt a fresh blow on Monday as two potential investors said they were no longer interested in putting money into the business. | |
Saudi Aramco aims to buy Reliance stake, reports lower earningsSaudi Aramco is planning a multibillion dollar investment in India’s Reliance Industries as the energy giant diversifies its oil business, where weaker prices cut its first-half profit by 12%. | |
Lloyd’s of London meets second-quarter electronic trading targetLloyd’s of London met a second-quarter target to complete at least half of its insurance under-writing deals electronically, as part of efforts to modernize operations and save costs. | |
Elizabeth Warren Takes The Lead In Online Betting MarketsAfter a handful of strong debate performances, coupled with the doddering, gaffe-prone antics of de facto front-runner Joe Biden, Massachusetts Senator Elizabeth Warren is for the first time leading the massive pool of Democratic 2020 primary contenders in the online betting market PredictIt. | |
When Should You Panic About The Yuan? Here Is The Simple AnswerChinese authorities weakened the Yuan Fix for the 8th day in a row overnight, sending offshore yuan down to 7.10/USD, drifting back towards last week’s devaluation lows. Some have proclaimed the recent ‘stability’ – i.e. yuan hasn’t kept collapsing in a straight line despite capital outflow fears and the political crisis in Hong Kong – a positive… | |
Russia Admits Radiation Releasing ‘Mystery Blast’ Involved “Mini Nuclear Reactor”Russia has belatedly admitted that the mystery explosion which released radiation into the air last Thursday, triggering warning alerts across towns near the northern port cities of Arkhangelsk and Severodvinsk, involved a “small-scale nuclear reactor”. Radiation levels had spiked to 20 times their normal levels after the incident at a military testing ground in Russia’s Arkhangelsk region, prompting an emergency response team to deploy in full nuclear radiation protective gear, as photos which came out in the aftermath appeared to show. Consistent with early speculation, western defense officials and analysts now believe it was a failed test of a Russian nuclear powered cruise missile. | |
Epstein Is The Deep State Civil War’s First High-Profile CasualtyAuthored by Charles Hugh Smith via OfTwoMinds blog, The “traditionalist” Neocons are going to have to decide to fish or cut bait. | |
Anil Agarwal makes a u-turn on Jet, says not interested anymoreAnil Agarwal makes a u-turn on Jet, says not interested anymoreThe EoI was exploratory in nature. On further evaluation we intend to not pursue it, Agarwal said in a statement. | |
Power may trip Modi’s $5-tn economy dreamPower may trip Modi’s $5-tn economy dreamL&T Power CEO said the $5-tn economy goal would be unachievable if we don’t add power generation capacity. | |
A Chinese firm is on Bharat Yatra for growthA Chinese firm is on Bharat Yatra for growthChinese smartphone brand Xiaomi began its offline push nearly two years back. | |
Cannabis Watch: CannTrust stock slides 26% after regulator says another facility is breaking rulesTroubled Canadian cannabis company CannTrust Holdings Inc. said Monday it has received a report from Health Canada informing it that its manufacturing facility in Vaughan, Ontario is noncompliant with certain regulations, sending its battered stock down 25%. | |
In One Chart: Here’s how the stock market tends to perform when bond yields plumb new lowsA flight to the perceived safety of sovereign debt appears to be in effect, amid a raft of growing global political worries, but that doesn’t necessarily mean stocks can’t rally in tandem. | |
Olive Garden is selling a $500 Lifetime Pasta Pass for the first timeIn addition to its annual Never Ending Pasta Pass offer, Olive Garden is selling a Lifetime Pasta Pass that doesn’t expire. |
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