22Aug2019 Pre-Market Commentary: Wall Street Pointing To A Higher Opening, DOW Up 32 Points Pushing Hard Into A Substantial Resistance

Here is the current market situation from CNN Money

European markets are mixed. The DAX is higher by 0.15%, while the FTSE 100 is leading the CAC 40 lower. They are down 0.37% and 0.20% respectively.

Oil rises further above $60, Jackson Hole summit in focus

Oil rose further above $60 a barrel on Thursday, supported by a drop in U.S. crude inventories and OPEC-led supply cuts, although worries about the global economy weighed.

Volkswagen CEO interested in Tesla stake: Manager Magazin

Volkswagen CEO Herbert Diess is interested in acquiring a stake in Tesla , German business publication Manager Magazin reported on Thursday, citing company sources.

Boeing spacecraft astronauts see new frontier for commercial space

A crew of veteran U.S. astronauts and aviators are training in Houston for a manned mission to the International Space Station aboard Boeing’s new Starliner spacecraft, which could also be used to take tourists into space on future missions.

South Korea’s top court to rule on Samsung heir’s bribery case on August 29

South Korea’s Supreme Court is to rule next Thursday on whether to uphold a reduced sentence given to Samsung Group heir Jay Y. Lee or ask an appeals court to revisit a case that was part of a graft scandal that brought down the president in 2017.

Fed doubts dominate as futures tick lower

Wall Street’s main markets were set to edge lower on Thursday as the previous session’s hints of a skeptical Federal Reserve attitude to a new cycle of interest rate cuts offset a handful of more bullish signs from U.S. retailers.

Stocks edge down as investors crave clarity on Fed stance

Share markets slipped on Thursday as uncertainty over the outlook for U.S. interest rate cuts left investors on edge, with the release of minutes from the Federal Reserve’s last policy meeting exposing rifts over its recent easing.

Fed was divided on rate cut, wanted to avoid appearing on path for more cuts

Federal Reserve policymakers were deeply divided over whether to cut interest rates last month but were united in wanting to signal they were not on a preset path to more cuts, a message not likely to sit well with U.S. President Donald Trump.

Over Fed minutes, a Trump-shaped shadow

The one thing Federal Reserve officials were in broad agreement about at their last meeting was this: to not tip their hands about what happens next.

Explainer: What are the obstacles to Bayer settling Roundup lawsuits?

Bayer AG is in mediation to potentially settle thousands of U.S. lawsuits claiming that the company’s Roundup weed killer causes cancer, but some legal experts said the cases raises novel questions that may prevent an easy settlement.

Trader: If You’re Looking For A Canary In The Coal Mine…

Authored by Richard Breslow via Bloomberg,

The Day Before a Big Event Is Hardest to Trade

The European PMIs that were released earlier today beat forecasts. And it felt positively quaint when the euro and bund yields rose to their respective highs of the day. If that is all it takes to change the mood, then economists should be enlisted to keep low-balling any economic estimates. Algorithms can be forgiven for reacting to the prints. No human trader should have been doing anything else besides fading the move for better intraday trade location.

South Korea Scraps Intelligence Pact With Japan Amid Rising Trade Tensions

Most Americans could be forgiven for thinking that the ‘trade war’ is really only impacting the US and (maybe) China. After all, it was President Trump’s belligerent rhetoric about holding China accountable that helped him win in 2016 in the first place. But what is less known, is that Trump’s angry trade rhetoric aggravated a bunch of other longstanding trade spats, most notably, the now-emergent trade spat between Japan and South Korea, which is threatening to seriously disrupt trade throughout the Pacific Rim region.

Tesla Jumps After German Press Says Volkswagen Preparing Acquisition

Elon Musk may have finally secured some of that precious financing he once claimed to have secured (roughly one year ago), though, according to a report in German business magazine Manager, things didn’t turn out quite like he had hoped.

Rally Fizzles As Traders Digest FOMC Minutes, Brace For Jackson Hole

US equity futures drifted lower, tracking European and Asian stocks in the red as uncertainty over the outlook for interest rate cuts following the release of the FOMC minutes kept investors on edge, while few traders were willing to trade in size with the Jackson Hole meeting set to begin. The yen and dollar jumped as the euro dropped and the yuan tumbled, while Treasuries edged higher with oil, while gold dipped.

Who is India’s biggest defaulter? A top broker gives you the shocker

Who is India’s biggest defaulter? A top broker gives you the shockerRaamdeo Agrawal said there is a liquidity crisis in the economy and today it has become the worst.

Here’s the deal behind online shopping deals

Here’s the deal behind online shopping dealsOnline retailers offer 50% average discounts on fashion and lifestyle products even in non-sale events.

Biscuits, briefs, bikes, booze & the breakdown

Biscuits, briefs, bikes, booze & the breakdownThe 4 Bs can encapsulate the consumption story like few else can: They show the road the economy is taking.

Metals Stocks: Gold sinks as bond yields climb

Gold futures head lower Thursday as bond yields edge up, dimming some of the luster from the precious metal, with the Fed’s symposium of central bankers getting underway in Jackson Hole, Wyo.

Key Words: Bank of America’s CEO has one simple reason why he doesn’t see a recession looming

Bank of America Corp.’s CEO Brian Moynihan says he doesn’t see a recession in the offing because the U.S. consumer remains healthy.

Need to Know: These 4 big blue chips stocks are cheap for a reason, cautions money manager

Our call of the day looks at four big U.S. companies that have stumbled after a solid ride between 2016 and 2018. The Felder Report’s Jesse Felder says they need to get a lot cheaper.