Written by Gary
Second-quarter GDP trimmed to 2% from 2.1% (SPY +1.0%). Jobless claims climb 4K to 215K, but layoffs still remarkably low.
Here is the current market situation from CNN Money | |
European markets are sharply higher today with shares in France leading the region. The CAC 40 is up 1.39% while Germany’s DAX is up 1.13% and London’s FTSE 100 is up 1.05%. |
U.S. trade deficit in goods narrows in July on stronger exports
What Is Moving the Markets
Here are the headlines moving the markets. | |
AirAsia close to adjusting Airbus order plans: sourcesAirAsia Group Bhd will announce on Friday an adjustment to its large Airbus SE order plans, confirming at least part of its order for A330neos while making room for the A321XLR, two people familiar with the matter said. | |
Argentina says to extend maturities of international bonds, IMF debtArgentina will negotiate with holders of its sovereign bonds and the International Monetary Fund to extend the maturities of its debt obligations as a way of ensuring the country’s ability to pay, Treasury Minister Hernan Lacunza said on Wednesday. | |
Argentina bonds plumb new lows as government eyes extending debt maturitiesArgentina’s international dollar bonds fell to new record lows on Thursday and its debt-insurance costs rocketed after the government announced plans to “reprofile” some debt, leaving investors scrambling to assess what kind of hit they might face. | |
Apple to supply parts to independent repair shops for first timeApple Inc said on Friday it will begin selling parts, tools and repair guides to independent shops to fix broken iPhones, a major change after years of lobbying against laws in some U.S. states that would have compelled it to do just that. | |
Stock futures jump after China’s positive comments on tradeU.S. stock index futures jumped about 1% on Thursday as China sounded upbeat about its trade talks with the United States, calming investors unnerved by the prospect of a recession. | |
Best Buy’s annual sales outlook misses estimates as tariffs loomBest Buy Co Inc forecast annual same-store sales below analysts’ estimates on Thursday, citing new U.S. tariffs set to be imposed on Chinese imports, such as phones, video game consoles and other electronics. | |
Dollar Tree’s same-store sales exceed Wall Street expectationsDollar Tree Inc reported better-than-expected quarterly same-store sales on Thursday as the company’s Family Dollar chain posted its best growth since being acquired in 2015. | |
Tencent scraps plan to invest $150 million in Chinese education firm VIPKid: sourcesTencent has shelved plans to invest about $150 million to lead a fresh fundraising round for a Chinese education firm VIPKid, two people familiar with the matter said, as Beijing moved to tighten oversight of online education platforms. | |
Thyssenkrupp CEO’s last roll of the dice: sell the family silverThyssenkrupp CEO Guido Kerkhoff has little choice but to sell the group’s prized elevator division lock, stock and barrel so he can save the conglomerate’s remaining businesses, four sources close to the German company said. | |
Beijing Condemns Washington’s Interference After Latest ‘Freeop’ In South China SeaThe endless back-and-forth of provocations between the US and China in the South China Sea continued apace on Thursday as Bejing condemned the latest US “freedom of navigation” operation near a set of disputed reefs in the South China Sea, according to the SCMP. On Wednesday, the guided missile destroyer USS Wayne E. Meyer sailed within 12 nautical miles of Fiery Cross and Mischief reefs, the two biggest artificial islands – or, as Steve Bannon calls them, ‘stationary aircraft carriers’ – in the disputed Spratlys. According to the SCMP, it was the first time an American warship had challenged two Chinese military outposts at once in a “freedom of navigation” operation. On Thursday, Senior Colonel Li Huamin, spokesman of the People’s Liberation Army’s Southern Theater Command, accused Washington of “acting as a hegemony in ignorance of the international laws and rules” and urged itto stop its “provocative actions” to avoid an “unpredictable incident.” | |
8 Reasons To Hold Some Extra CashAuthored by Lance Roberts via RealInvestmentAdvice.com, Over the past few months, we have been writing a series of articles that highlight our concerns of increasing market risk. Here is a sampling of some of our more recent newsletters on the issue. Never Hurts To Ring The Cash Register Looking For A Sellable Rally Bull vs. Bear Case Don’t Fear A Bear Market Risk Happens Fast The common thread among these articles was to encourage our readers to use rallies to reduce risk as the œbull case  was being eroded by slower economic growth, weaker earnings, trade wars, and the end of the stimulus from tax cuts and natural disasters. To wit:
| |
Global Markets Soar After China Hints At Trade Talk OptimismIt is a sea of green across global markets as European stocks and US equity futures rallied sharply and Asian shares pared earlier declines, after after comments from China that Beijing is in “effective contact” with the US on trade and that they are discussing the upcoming September talks. The Chinese Yuan soared while Treasury yields jumped. | |
Florida Declares State Of Emergency As Hurricane Dorian Set To Ruin Labor Day WeekendJust in time to spoil Labor Day weekend, Hurricane Dorian has barreled through the US Virgin Islands and Puerto Rico without causing much damage, and is now headed straight for the Florida coastline. After intensifying from a tropical storm into a hurricane late Wednesday, the storm continued to strengthen as it pulled closer to the Continental US. The storm is expected to continue strengthening over the next few day, and is expected to make landfall on Florida’s Atlantic coast as a CAT 3 storm late Sunday or Monday.
In typical fashion, president Trump warned that Dorian will be “a very big storm, perhaps one of the biggest!” and urged people to follow state and federal instructions.
As … | |
Believe it or not, here’s an industry that wants to pay more GSTBelieve it or not, here’s an industry that wants to pay more GSTAmid the clamour for slashing GST rates, rail manufacturers are seeking the opposite “an increase. | |
RBI’s sandbox move leaves industry dividedRBI’s sandbox move leaves industry dividedBackers are calling the initiative a game changer even as others seek more operational clarity. | |
Weak rupee makes studies abroad dearerWeak rupee makes studies abroad dearerBanks usually secure education loans with a mortgage of property belonging to the parents. | |
Rail Week Ending 24 August 2019: Intuitive Sectors WorsenWritten by Steven Hansen Week 34 of 2019 shows same week total rail traffic (from same week one year ago) contracted according to the Association of American Railroads (AAR) traffic data. The economically intuitive sectors rolling averages remain in contraction – and worsened this week. | |
Economic Report: Jobless claims climb 4,000 to 215,000 in late August, but layoffs still remarkably lowThe number of people who applied for unemployment benefits in late August rose slightly to 215,000, but layoffs remain remarkably low more than 10 years after the last recession and show little sign of rising even as the economy faces stiffer headwinds. | |
Economic Report: Second-quarter GDP trimmed to 2% from 2.1%; companies cut spending, boost profitsThe U.S. economy grew a touch slower in the spring than initially reported owing to declining exports and weak corporate investment, but companies managed to post a sizable increase in profits even as their business outlook dimmed. | |
Need to Know: Don’t worry about the ‘monsters’ as production is about to boom, says this fund managerGlobal interest rate reductions and the end of the inventory building cycle should lift U.S. exports and production and boost materials and home-building sectors, says one fund manager. |
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: