Written by Gary
S&P, Nasdaq fall as White House weighs delisting Chinese companies (SPY -0.6%).
Here is the current market situation from CNN Money | |
 | North and South American markets are lower today with shares in U.S. off the most. The S&P 500 is down 0.50% while Mexico’s IPC is off 0.45% and Brazil’s Bovespa is lower by 0.32%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| S&P, Nasdaq fall as White House weighs delisting Chinese companiesThe S&P and the Nasdaq fell on Friday after news that the Trump administration was considering delisting Chinese companies from U.S. stock exchanges and limit U.S. investments into China. |
| Oil, shares fall on potential limit on China investmentsCrude oil prices and a gauge of global equity markets fell on Friday after a report said the administration of U.S. President Donald Trump was weighing limits on the flow of U.S. portfolio investments into China. |
| Oil shipping rates soar as U.S. supertanker sanctions rattle crude tradeKey oil freight rates from the Middle East to Asia rocketed as much as 28% on Friday in a global oil shipping market spooked by United States sanctions on units of Chinese giant COSCO for alleged involvement in ferrying crude out of Iran. |
| Trump administration considering delisting U.S.-listed Chinese firms: reportThe Trump administration is considering delisting Chinese firms from U.S. stock exchanges, according a Bloomberg report on Friday, sending shares of those companies sharply lower. |
| U.S. eyeing possibility of delisting Chinese firms from U.S. exchanges: sourceThe U.S. government is considering the possibility of delisting Chinese companies from U.S. exchanges, a source briefed on the matter said, in what would be an escalation of trade tensions between the U.S. and China. |
| Fiat Chrysler to pay $40 million over inflated sales figures: SECFiat Chrysler Automobiles NV will pay $40 million for misleading investors about its monthly sales figures and will resolve a lengthy probe by the U.S. Securities and Exchange Commission (SEC). |
| Cyclical shares key to determining endurance of U.S. stock rallyImproved economic sentiment in recent weeks has lifted shares of U.S. financial, energy, industrial and materials companies, but analysts are sharply divided on whether that optimism is warranted. |
| Launch of Facebook’s Libra could be delayed over regulatory concerns: executiveThe launch of Facebook’s Libra could be pushed back to tackle the regulatory concerns that have been raised around the world, the head of the organization set up to oversee the cryptocurrency told Reuters. |
| After WeWork debacle, IPO market slams brakes on unprofitable companiesCompanies making their debut on the U.S. stock market are getting a rough welcome, especially if they are losing money, casting a shadow over the calendar for initial public offerings for the rest of the year. |
| “It’s All Going To Help Him”: Normal Democrats See Little Upside To Impeaching Trump, Worry It Will Backfire“It’s All Going To Help Him”: Normal Democrats See Little Upside To Impeaching Trump, Worry It Will Backfire Democrat voters surveyed by Reuters fear that impeaching President Trump over the Biden-Ukraine scandal will backfire, giving him a boost into the 2020 US election.  In short, Congressional Democrats looking to impeach have major credibility issues after the Mueller report failed to show that Trump ‘colluded’ with Russia, and a transcript of his call with Ukrainian President Volodymyr Zelensky failed to show Trump strongarming him into investigating former Vice President Joe Biden and his coke addict son. |
| Pets Are Now As Unaffordable As College, Housing, And HealthcarePets Are Now As Unaffordable As College, Housing, And Healthcare Authored by Charles Hugh Smith via OfTwoMinds blog, Like so many other things that were once affordable, owning pets is increasingly pricey. One of the few joys still available to the average household is a pet. At least this is what I thought until I read 5 money-saving tips people hate, which included the lifetime costs of caring for a pet. It turns out Poochie and Kittie are as unaffordable as college, housing and healthcare (and pretty much everything else). Over the course of 15 years, small-dog Poochie will set the owner back an eye-watering $17,560 to $93,520, while big-dog Fido costs $22,025 to $82,929 over 12 years. Kittie is a relative bargain at $16,800 over 15 years. Some estimates of responsible pet ownership are considerably lower, but non-pet owners may be surprised by 1) how many options for the care of pets are now available and 2) how many medical interventions and treatments are now available, at prices that aren’t much different from human healthcare. Five-figure bills for pet surgeries and other care are not uncommon. Unfortunately, pets aren’t able to tell us they don’t want any extraordinary measures taken to extend their lives, and so households may agree to procedures they really can’t afford. Here is an excerpt from the article: The SPCA lists the cost of pets as follows:< … |
| Trolling Russia “Hopes” White House Refrains From Releasing Putin-Trump CallsTrolling Russia “Hopes” White House Refrains From Releasing Putin-Trump Calls With Democrats going all-in with a rare impeachment process ” for the fourth time ever in American history “ it appears Moscow couldn’t resist the opportunity to troll, while also perhaps legitimately slamming what is a deeply unusual practice in foreign relations. Ukrainian President Volodymyr Zelensky’s office is said to be bristling over the “embarrassing” release the Trump call transcript “ which of course means Kremlin officials have grabbed the popcorn to sit back and enjoy the show. “The Kremlin says it hopes the US will not release the transcripts of Vladimir Putin’s phone calls with Donald Trump after a whistleblower claimed the White House was hiding records of the US president’s phone conversations with foreign leaders,” FT reports from Moscow. |
| Yuan, Stocks Slammed As US Weighs Limits On Portfolio Flows From ChinaYuan, Stocks Slammed As US Weighs Limits On Portfolio Flows From China In what appears to dismiss President Trump’s claims that a deal is a lot closer than you think, Bloomberg reports that the White House is said to support a review of investment limits for China. Among the options the Trump administration is considering: delisting Chinese companies from U.S. stock exchanges and limiting Americans’ exposure to the Chinese market through government pension funds. Exact mechanisms for how to do so have not yet been worked out and any plan is subject to approval by President Donald Trump, who has given the green light to the discussion, according to one person close to the deliberations. Bloomberg adds that there is reportedly no timeline for a Chinese capital restriction action. The market did not like that… |
| In a hot market, PSU stocks get cold shoulder. Here’s whyIn a hot market, PSU stocks get cold shoulder. Here’s whyTwenty-one other stocks have eroded in excess of 20 per cent in last one year. |
| Top MFs risk regulator wrath on Essel pactTop MFs risk regulator wrath on Essel pactShares of Zee Entertainment Enterprises Ltd. have steadied since hitting a 5-yr low Monday. |
| How grim is situation at WeWork? Read thisHow grim is situation at WeWork? Read thisWeWork has only enough cash to last for six months. It’s losing millions of dollars a day. |
| 20 September 2019 ECRI’s WLI Growth Rate Continues to Improve
ECRI’s WLI Growth Index which forecasts economic growth six months forward marginally improved but remains slightly in contraction. |
| IPO Report: IPO market has begun pushing back on growth-at-all-costs private companiesEndeavor Group Holdings became the latest company to scale back plans for an initial public offering on Thursday, when it reduced the size of the deal and slashed its price range. |
| ‘Abominable’ expected to lead weekend box office as first animated film of fall seasonhe weekend box office is expected to be dominated by œAbominable, the first animated film of the fall season, that is expected to topple last weekend’s leader Downton Abbey, according to forecasts. |
| The Tell: Emerging markets offer useful lessons for market impact of impeachment, says analystOne analyst says investors may want to look abroad to gain further insight into the market implications of presidential impeachments. |
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