Written by Gary
A rock’s throw from a new high and a dollar short (SPY +0.4%). US core inflation firming, but Fed still seen cutting rates. August 2019 Sea Container counts remain In contraction.
The Market in Perspective
| Here are the headlines moving the markets. | |
 | Washington, Beijing lay ground for trade deal talks; China buys U.S. soybeansThe United States on Thursday welcomed China’s renewed purchases of U.S. farm goods while maintaining the threat of U.S. tariff hikes as the world’s two largest economies prepared the ground for talks aimed at breaking the logjam in their trade war. |
| Exclusive: Ahead of trade talks, China makes biggest U.S. soybean purchases since June – tradersPrivately run Chinese firms bought at least 10 boatloads of U.S. soybeans on Thursday, the country’s most significant purchases since at least June, traders said, ahead of high-level talks next month aimed at ending a bilateral trade war that has lasted more than a year. |
| Reuters asks judge to release secret Propecia documentsReuters asked a U.S. judge on Thursday to unseal documents filed in court regarding potential risks associated with Propecia, Merck & Co’s popular baldness drug. |
| Brazilian lithium producer Sigma in talks with Tesla, other automakersBrazil-based lithium startup Sigma Lithium Resources Corp has held talks with Tesla Inc and other automakers about supplying the key battery ingredient in the coming years, the company’s chief executive said on Thursday. |
| LSE board poised to decide fate of Hong Kong exchange’s $39 billion offerThe London Stock Exchange’s board will meet in coming days to decide on the Hong Kong bourse’s surprise $39 billion takeover proposal, a source close to the British company said on Thursday, as the market poured cold water on the deal. |
| Wall Street advances on trade concessions, euro zone stimulusWall Street advanced on Thursday, and the S&P 500 hovered a hair’s breadth below its all-time high, buoyed by positive developments on the U.S.-China trade front and a promise of continued stimulus from the European Central Bank. |
| SmileDirectClub falls 11% in U.S. market debutShares of SmileDirectClub , a teeth alignment company, tumbled 10.7% in their market debut on Thursday, after the company’s initial public offering was priced above expectations. |
| Exclusive: Two JPMorgan metals executives put on leave amid U.S. probe – sourceTwo JPMorgan Chase & Co employees, including a top metals trading executive, have been placed on leave in response to a U.S. criminal investigation into the bank’s metals trading practices, according to a source familiar with the matter. |
| Stocks rise, bond yields off lows, on trade optimismA gauge of global stock markets reached a six-week high in choppy trading on Thursday after new hints of progress in the U.S.-China trade dispute, sending bond yields off lows hit earlier in the wake of the European Central Bank’s new stimulus measures. |
| Momo Meltdown Stalls As Stocks Jump On Draghi And TrumpMomo Meltdown Stalls As Stocks Jump On Draghi And Trump Global equity, FX, and bond markets are trading like penny stocks once again as central bank promises, leaks, and actions combine with US and China trade negotiators’ promises, leaks, and actions spark panic-buying – and manic-selling – each and every day. Add to that the biggest quant quake in a decade and “things just went just a little bit slightly turbo” today… For the first time in a month, offshore yuan traded above its fix |
| US Forces Accused Of “Indiscriminate Attacks” On Civilians In Syria: UN ReportUS Forces Accused Of “Indiscriminate Attacks” On Civilians In Syria: UN Report Authored by Andrea Germanos via CommonDreams.org, A new report out Wednesday from United Nations investigators says that U.S. forces may have committed war crimes in Syria. Released by the Independent International Commission of Inquiry on the Syrian Arab Republic, the report catalogs how the eight-year conflict “continues to torment civilians who bear the brunt of hostilities,” as operations carried out by the U.S.-led international coalition, militants, and Russia-backed pro-government forces have left essential infrastructure obliterated, civilians killed, maimed, and uprooted, and communities in “near complete destruction.” |
| The Top Lesson From The Quant Carnage: Too Many Investors Are Poorly Exposed To Positive NewsThe Top Lesson From The Quant Carnage: Too Many Investors Are Poorly Exposed To Positive News Over the weekend, Morgan Stanley – once again ahead of its peers – pointed out what it saw as a major, if not the biggest, challenge facing today’s market: what if things got better. Separately, three weeks ago – long before Bloomberg published “Carnage in Crowded Hedge Fund Stocks May Mean Some Don’t Survive” – we wrote “Crowding Is Now One Of The Biggest Market Risks”, in which we explained that virtually all funds are on the same side in both the most loved momentum stocks and most hated value stocks. Well, fast forward to this week when the combination of “good news” suddenly dominating the newsflow, together with a massive unwind of the most crowded stocks, led to the historic, worst ever 2-day return in the sector-neutral momentum factor. |
| Brazilian Official Who Fought To Protect The Amazon “Assassinated” In Front Of FamilyBrazilian Official Who Fought To Protect The Amazon “Assassinated” In Front Of Family Authored by John Vibes via The Mind Unleashed blog, Maxciel Pereira dos Santos, a Brazilian government official who has been working with indigenous people to preserve the Amazon rainforest for over a decade, was shot and killed in front of his family in an apparent assassination on Friday. Santos was shot twice in the head while riding a motorbike through Tabatinga, a small city located in the Amazon rainforest, along Brazil’s border with Colombia and Peru. |
| M&M bets on a Netflix-style service for cars as slump bites harderM&M bets on a Netflix-style service for cars as slump bites harderMahindra & Mahindra is tying-up with self-drive car rental firm Revv to offer its cars on a subscription model. |
| India’s app economy is set to boom and how!India’s app economy is set to boom and how!India will overtake the US as the worlds largest developer population centre by 2024, says a report. |
| $800 bn: What BRI backlash may cost China$800 bn: What BRI backlash may cost China ‹ ‹The most pessimistic scenario is investment might only reach around $560 billion, as per a report. |
| August 2019 Sea Container Counts Remain In ContractionWritten by Steven Hansen The August year-to-date import/export container count growth rate remains in contraction.
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| Look at this ETF for a ‘conscious capitalism’ approachIt’s an exchange-traded fund that offers reasonable returns while allowing investors access to a basket of companies that practice good governance as defined by employee engagement, customer loyalty, transparency in financial reporting, and more. |
| More evidence that passive fund management beats activeA new report from Morningstar quantifies how frequently passively-managed funds, and lower-cost ones, beat active strategies that charge more. |
| Dow Jones Newswires: ESG investing trend has powered index giant MSCI to market outperformance in 2019Index and research giant MSCI Inc. has seen its stock outperform the market this year, buoyed by its rapidly expanding ESG ” or environmental, social and governance ” investing services. |
Summary of Economic Releases this Week
Earnings Summary for Today
leading Stock Positions
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