Written by Gary
US stock indexes mostly slip (SPY -0.01 flat). Bond Report: U.S. government bonds hold steady a day after Fed’s rate cut.
The Market in Perspective
| Here are the headlines moving the markets. | |
 | Banker tells German fraud trial he made millions from ‘astronomical’ tradesA British investment banker at the center of Germany’s biggest fraud trial told judges on Thursday he earned millions of euros from deals involving “astronomical” trades that prosecutors say were a means to make bogus tax reclaims. |
| Shares rise after Fed rate cut, oil prices gainA gauge of global equity performance rose within 1% of a record high on Thursday, a day after the Federal Reserve cut interest rates, but crude oil prices climbed higher on concerns last weekend’s attacks on Saudi Arabia’s oil facilities pose supply risks. |
| Microsoft nudges S&P 500 toward record highMicrosoft and healthcare companies lifted Wall Street on Thursday, a day after the Federal Reserve cut interest rates as expected and left the door open for further monetary easing. |
| Biotech is going to the dogs – and big profits awaitFor Jessica Lescault there is no question that her 6-year old English bulldog “Moose” deserves cutting-edge biotechnology cancer treatment as much as any human patient. |
| Factbox: Animal health sector aims to emulate Zoetis biotech leapA commercial breakthrough in the field of complex therapeutic proteins for dogs by sector leader Zoetis has roused rivals to action in a hunt for biotechnology medicines to treat pets. |
| U.S., Chinese trade deputies face off in Washington amid deep differencesU.S. and Chinese deputy trade negotiators were set to resume face-to-face talks for the first time in nearly two months on Thursday, as the world’s two largest economies try to bridge deep policy differences and find a way out of a bitter and protracted trade war. |
| Chinese officials to visit U.S. farmland as trade talks continue: U.S. agriculture chiefA Chinese delegation will visit American farm regions with U.S. officials next week in an effort to build goodwill amid ongoing trade negotiations, U.S. Agriculture Secretary Sonny Perdue told reporters on Thursday. |
| Mediaset strikes deal to limit withdrawal rights impact in pan-EU TV dealItalian broadcaster Mediaset said on Thursday it had reached an agreement with Peninsula Holding to limit the impact of the exercise of withdrawal rights in its deal to create a pan-European TV platform (MFE). |
| Exclusive: France’s CNP and Brazil’s Caixa close to reaching $1.7 billion insurance deal – sourcesFrance’s CNP Assurances SA is close to reaching a deal worth 7 billion reais ($1.7 billion) with Brazil’s state-owned lender Caixa Economica Federal [CEF.UL] to sell insurance in the bank’s more than 3,000 branches, two sources with knowledge of the matter said. |
| Stocks Pump-n-Dump As Quad-Witch Looms, Liquidity Crisis ContinuesStocks Pump-n-Dump As Quad-Witch Looms, Liquidity Crisis Continues Billions more in immediate liquidity, a promise of moar to come, but indications are that things are not improving and stocks gave up their early gains… somebody do something!! First things first, The Fed increased its liquidity provision once again today and EFF-IOER continues to be out of control… |
| Bitter Bolton Unloads On Trump’s Backing Down From War At Closed-Door EventBitter Bolton Unloads On Trump’s Backing Down From War At Closed-Door Event It was perhaps bound to happen, especially as months of bellicose threats against Iran now give way to mere new sanctions roll out, and the White House remains painted into a corner facing all “bad options” after the so-called ‘maximum pressure’ campaign has failed. Recently dismissed national security adviser John Bolton has for the first time ripped into his former boss, attacking Trump’s foreign policy during a closed door lunch on Wednesday hosted by the conservative Gatestone Institute. “He ripped Trump, without using his name, several times,” one anonymous attendee told Politico. The blunt of Bolton’s criticism focused on “doomed to failure” efforts at negotiating with North Korea and Iran, which he said would only result in softening sanctions but crucially with no change in the regimes’ behavior. |
| NBC News Ridiculed After ‘Climate Confessions’ Goes Horribly AwryÂNBC News Ridiculed After ‘Climate Confessions’ Goes Horribly Awry In an effort to invoke maximum first-world guilt over our addiction to red meat and plastic straws, someone at NBC thought it would be a great idea to let people anonymously “confess” to their climate sins in order to shame the rest of us into using paper straws and giving up bacon. |
| Deja Vu 2000 Or Flashback 2007? (Part 1)Deja Vu 2000 Or Flashback 2007? (Part 1) Authored by David Hay via Evergreen Gavekal blog,
SUMMARY Evergreen has made the case in the past for a two-tiered equity market; however, if signs that we’re heading towards a recession are correct, including a consumer retrenchment, there will likely be no places to hide in equities ” much like in 2008. As 2019 has unfolded, it’s become clear that not only will there be no S&P profit expansion, but another earnings recession looks highly probable. It’s likely that the reason that both market shakeouts in 2015 and 2018 were relatively mild is because an actual recession was avoided. One thing that’s glaringly different about the current yield curve inversion is the mind-blowing amount of pseudo-money that central banks have created to buy up government bonds and drive yields down. The multi-trillion-dollar questions are (1) did the Fed tighten too much last year and (2) did the Fed wait too long to cut? The answer may be yes to both. As a result, it’s possible that we coul … |
| The single-most effective solution to India’s economic woesThe single-most effective solution to India’s economic woesAs GST council meets in Goa, they have to find a way to boost economy. The answer is to overhaul the GST totally. |
| Das on why govt may not give a fiscal boosterDas on why govt may not give a fiscal boosterThe RBI Governor said that there is little fiscal space for the government to unveil any countercyclical measures. |
| This co is giving Rs 1 lakh bonus to its staffThis co is giving Rs 1 lakh bonus to its staffWorkers of Singareni Collieries Company Limited would get a bonus of Rs 1.01 lakh, Telangana CM said. |
| Market Extra: How the stock market tends to perform after back-to-back Fed rate cutsOn Thursday, U.S. equity benchmarks were staging a test of fresh all-time highs, a day after the Federal Reserve cut interest rates for the second time in as many meetings. |
| IPO Report: Ping IPO pops 31% in debutIt’s not the sexiest tech IPO in a year of A-list names, but shares of Ping Identity Holding Corp. are up sharply, pushing the software company past $1 billion in market value. |
| Bond Report: U.S. government bonds hold steady a day after Fed’s rate cutU.S. Treasurys trade virtually unchanged Thursday, a day after the Federal Reserve cut interest rates, with divisions among policy makers, casting doubt on the Federal Open Market Committee’s appetite for quantitative easing and further interest-rate reductions. |
Summary of Economic Releases this Week
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:
