Written by Gary
US major indexes expected to break through resistance (SPY +0.64%). Major concern of investors is will market stay in the green?
Here is the current market situation from CNN Money | |
European markets are broadly higher today with shares in Germany leading the region. The DAX is up 1.21% while France’s CAC 40 is up 0.96% and London’s FTSE 100 is up 0.73%. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
Trump prods General Motors over its auto plants in ChinaU.S. President Donald Trump, who is engaged in a trade war with Beijing, said on Friday that American automaker General Motors had opened major plants in China before he took office and should begin moving its operations back to the United States. | |
Campbell’s profit beats estimates on cost cuts, shares riseU.S. food company Campbell Soup Co reported better-than-expected fourth-quarter profit, benefiting from cost cuts, sending shares up 5% before the bell. | |
China will exempt Tesla cars from purchase taxChina will exempt Tesla Inc’s electric vehicles (EV) from purchase tax, the Ministry of Industry and Information Technology (MIIT) said on its website. | |
Danske Dank reported to police for overcharging customers: regulatorDenmark’s Financial Supervisory Authority (FSA) has reported Danske Bank to the police for overcharging customers, the financial watchdog said on Friday. | |
Stock futures rise on U.S.-China trade optimismU.S. stocks index futures rose on Friday, as investors took comfort from signals that the United States and China will resume trade talks. | |
Boeing aims to strengthen engineering oversight after panel reviewBoeing Co needs to reorganize its engineering reporting lines company-wide and ensure higher ranking officials, including its CEO, get faster feedback about potential safety concerns from lower levels of the company, according to an internal review at the U.S. planemaker following two recent fatal crashes. | |
Oil prices fall but set for weekly gain as trade row rhetoric easesOil prices gave back some of their recent gains on Friday, but were still headed for the biggest weekly increase since early July, boosted by an easing of China-U.S. trade rhetoric, a decline in U.S stockpiles and a looming hurricane in Florida. | |
Freenet-led revolt against Sunrise’s UPC deal gains alliesSunrise Communications’ proposed takeover of Liberty Global’s Swiss UPC business faces a revolt with at least two big investors joining top shareholder Freenet in opposing the 6.3 billion Swiss franc ($6.46 billion) deal, sources said. | |
Exclusive: Saudi Aramco board sees too many risks for New York IPO – sourcesBy Rania El Gamal, Alex Lawler, Marwa Rashad and Hadeel Al Sayegh | |
Americans’ Spending Jumps In July As Income Growth Slows DramaticallyFollowing this week’s GDP revisions, Americans’ spending was expected to reaccelerate (after slowing for 3 straight months) and incomes are expected to see growth moderate, and that is exactly what happened. Personal Spending jumped 0.6% MoM in July (the best since April) but Personal Income rose just 0.1% MoM (well below expectations and the slowest since Sept 2018) | |
China Rejected Secret Hong Kong Proposal To Appease ProtestersBeijing’s role in directing the Hong Kong government throughout the extradition bill protests has been widely assumed, and following the arrest of three protest leaders Friday morning (local time), as well as the cancellation of Saturday’s march, the long-anticipated crackdown (complete with a ‘rotation’ of PLA forces) appears to have finally started. | |
Tesla Shares Spike 4% After Musk Gets China Auto Tax Exemption Following Shanghai VisitPerhaps Trump should take some diplomacy lessons from Elon Musk? Tesla shares have spiked over 4% in the pre-market session on news that the company won an exemption from a 10% Chinese tax on automotive sales, according to Bloomberg. The exemption previously only applied to domestic EV makers and will affect all Tesla models sold in China, according to China’s industry ministry. < … | |
Global Stocks Surge On Trade Optimism, Ending Turbulent August With A Sea Of GreenFor the second day in a row, global markets and US equity futures are a sea of green with stocks pushing higher as trade headlines bathe algos in a sea of trade optimism ahead of month end, even as the dollar ascent continued offsetting the weaker Chinese yuan which was on track for its weakest month in 2-1/2 decades. | |
Slowdown gets real as India clocks in slowest growth in over 6 yearsSlowdown gets real as India clocks in slowest growth in over 6 yearsThe biggest laggard was Manufacturing’ sector, which saw a tepid growth of 0.6 percent. | |
Sitharaman unveils a mega bank merger planSitharaman unveils a mega bank merger planFinance Minister announced amalgamation of ten public sector banks into four big banks. | |
How Sitharaman’s GenNext PSBs affect youHow Sitharaman’s GenNext PSBs affect youThese mergers could impact almost every other individual who has a savings account or FD with a PSU bank. | |
Outside the Box: Low interest rates are compounding the big problems facing pension fundsWith more than $1 trillion in unfunded liabilities, pensions face tough conversations around increasing contributions or changing benefits. | |
Economic Report: U.S. consumer spending surges in July ” but inflation is still quite tameAmericans boosted spending in July on recreational goods and vehicles as well as energy to run their air conditioners, but inflation remained low enough to give the Federal Reserve room to cut interest rates next month. | |
Outside the Box: Why you should keep believing in Warren Buffett even though the stock market is crushing Berkshire HathawayThe big problem is large-cap value stocks ” Buffett’s sweet spot ” haven’t done well. |
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