Written by Gary
Futures gain with support from tech stocks (SPY +0.1% and slipping). Oil slipped today as China’s economic outlook remained weak.
Here is the current market situation from CNN Money | |
European markets are mixed today. The CAC 40 is up 0.22% while the DAX gains 0.10%. The FTSE 100 is off 0.06%. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
Futures gain with support from tech stocksAdvances in some of the biggest technology companies bolstered U.S. stock index futures on Monday, as investors looked past last week’s reports that Washington was considering delisting Chinese companies from U.S. stock exchanges. | |
Blackstone to buy U.S. warehouses from Colony Capital in $5.9 billion dealBlackstone Group Inc said on Monday it would buy U.S. industrial warehouses from real estate and investment management firm Colony Capital Inc in a $5.9 billion deal, to capitalize on the e-commerce boom. | |
Oil down more than 1% on trade war jitters and Chinese dataOil slipped on Monday as China’s economic outlook remained weak even as manufacturing data improved, with the continuing trade war with the United States weighing on demand growth for the world’s largest crude importer. | |
Shares steady as investors shrug off U.S. delisting threatShares on Monday largely shrugged off reports that Washington is considering delisting Chinese companies from U.S. stock exchanges, with market players downplaying the likelihood of such radical escalation of the U.S.-China trade war. | |
Chinese companies rethink U.S. IPOs after Trump’s delisting threatBestbond, a Chinese apartment rental company, had been planning on a Nasdaq flotation in one to two years but as U.S.-China trade tensions racheted higher, the Hong Kong stock exchange emerged as a possible candidate. Now, it’s firmly on the table. | |
Explainer: What delisting Chinese firms from U.S. stock markets could meanU.S. President Donald Trump’s administration is considering forcing Chinese firms to delist from U.S. stock exchanges, according to sources, a move that would escalate U.S.-China tensions and could throw some of China’s biggest companies into chaos. | |
Forever 21 latest retailer to file for bankruptcyFashion retailer Forever 21 Inc filed for bankruptcy on Sunday, as it joined a growing list of brick-and-mortar players who have succumbed to the onslaught of e-commerce companies such as Amazon.com Inc . | |
Sempra Energy to sell stake in Peruvian businesses for $3.59 billionU.S.-based Sempra Energy said on Monday it would sell stakes in its Peruvian operations to a unit of China Yangtze Power Co for $3.59 billion in cash, to focus on its core businesses in North America. | |
UK Markets watchdog fines Prudential 24 million pounds over annuity salesBritain’s markets watchdog has fined the country’s largest insurer Prudential 24 million pounds ($29.39 million) for failures related to non-advised sales of annuities, it said on Monday. | |
Stocks Slump After Navarro, Trump Trade CommentsStocks Slump After Navarro, Trump Trade Comments Markets had maintained some gains from the denial of China delisting headlines that sparked selling on Friday. But following Trump advisor Navarro’s comments on CNBC, notably hawkish on China and not directly denying the China investment flows discussion, algops began to get spooked. Then President Trump retweeted the following quote:
Adding that:
And stocks did not receive that well… | |
Repo Rate Soars As Fed Accepts $63.5 Billion In Collateral On Last Day Of Q3Repo Rate Soars As Fed Accepts $63.5 Billion In Collateral On Last Day Of Q3 With quarter-end funding needs supposedly squared away thanks to last week’s three 2-week term-repo operations, moments ago the NY Fed announced that in the final overnight repo operation of the quarter, dealers submitted $63.5BN in collateral ($49.75BN in TSYs, $13.75BN in MBS)… | |
Frightening Videos Surface Of Tesla’s “Smart” Summon FeatureFrightening Videos Surface Of Tesla’s “Smart” Summon Feature With Tesla releasing V10 of its vehicle software earlier this week, owners were chomping at the bit to get their hands on the long touted “Smart Summon” feature, which is supposed to allow drivers to summon their vehicles to them in parking lots using their cell phones. But, as things go with Tesla, the idea of the idea was worlds away from the actual implementation of it. In fact, early customer videos and reports of the “feature” are making Smart Summon look extremely dangerous and nothing short of a complete disaster. As soon as the software update pushed to drivers, videos began popping up on social media showing a litany of negative consequences of everyday users beta testing Smart Summon in real life. Tesla says that with Smart Summon “customers who have purchased Full Self-Driving Capability or Enhanced Autopilot can enable their car to navigate a parking lot and come to them or their destination of choice, as long as their car is within their line of sight. It’s the perfect feature to use if you have an overflowing shopping cart, are dealing with a fussy child, or simply don’t want to walk to your car through the rain.” Tesla claims that “customers who have had early access to Smart Summon have told us that it adds both convenience to their trips and provides them with a unique moment of delight when their car picks them up to begin their journey.” Let’s compare Tesla’s description of the feature with the real world results. First, there’s this video of … | |
Futures Jump As Markets Downplay Risk Of US-China Trade War EscalationFutures Jump As Markets Downplay Risk Of US-China Trade War Escalation Unlike last week, when every day was marked by either full-on trade deal euphoria or, as was the case on Friday afternoon, despair amid speculation of trade war escalation, overnight markets were relatively muted and fluctuated in Europe while US equity futures jumped as the lack of explicitly negative trade war news was interpreted as good news. Indeed, investors generally shrugged off reports that Washington is considering delisting Chinese companies from U.S. stock exchanges, with traders downplaying the likelihood of such radical escalation of the U.S.-China trade war. | |
This tiny bank in Maharashtra is a canary in coalmineThis tiny bank in Maharashtra is a canary in coalmineHow did PMC’s board, its auditors and the central bank remain clueless for so long? | |
Fraud probe sends Indiabulls into a tailspinFraud probe sends Indiabulls into a tailspinThere were only 5 instances, excluding Monday’s, when the scrip fell in double digits. | |
The problem with banning onion exportsThe problem with banning onion exportsEncouraging imports, not banning exports, is the remedy to augment supplies. | |
Best New Ideas in Money: Silicon Valley’s final frontier for mobile payments ” ‘the neoliberal takeover of the human body’Ditching credit cards for facial recognition removes the last physical barrier between our bodies and Corporate America. | |
Best New Ideas in Money: Why the best person to give you money advice may NOT be an accountant or financial adviserStarting this year, it will be possible to be officially certified as a financial therapist. | |
Market Extra: Like it or not, the U.S. dollar is cementing its role as a global safe havenThe U.S. dollar’s rally this week in the face of rising domestic political uncertainty underlines the currency’s credentials as a haven. |
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