Written by Gary
US factory activity sinks to 10-year low from 49.1 to 47.8 (SPY -1.1%). Investors concerned of a sharp slowdown in economic growth in the third quarter.
Here is the current market situation from CNN Money | |
North and South American markets are mixed to lower. Shares in U.S. are off as the S&P 500 drops 1.13%. The Bovespa is down 0.61% while the IPC in Mexico is unchanged. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
Big drone on campus: UPS gets U.S. government okay for drone airlineUnited Parcel Service Inc on Tuesday said it won the U.S. government’s first full approval to operate a drone airline, which gave it a lead in the nascent U.S. drone delivery business over rivals Amazon.com Inc and Alphabet Inc. | |
U.S. September auto sales fall as shift in Labor Day holiday hurtsAutomakers, including Toyota Motor Corp and Hyundai Motor , on Tuesday reported a sharp drop in September U.S. sales, hurt by the early timing of Labor Day as sales from the holiday weekend were booked in August. | |
Oil prices sink as weak U.S. economic data dims demand outlookOil prices slipped on Tuesday, pressured as weak U.S. economic data dimmed crude’s demand outlook, while reports of an output decline from the world’s largest oil producers in the third quarter kept prices from falling further. | |
U.S. factory activity sinks to 10-year low in SeptemberU.S. manufacturing activity tumbled to a more than 10-year low in September as lingering trade tensions weighed on exports, further heightening financial market concerns of a sharp slowdown in economic growth in the third quarter. | |
Tesla registers Shanghai construction unit in acceleration of China plansU.S. electric vehicle maker Tesla Inc has registered a construction company in China, a business registration filing shows, the latest sign Tesla is pushing ahead with its plans in the world’s biggest auto market. | |
Credit Suisse clears its CEO in spying scandal that rocked Swiss bankingCredit Suisse cleared its CEO on Tuesday of snooping on a star wealth manager in an episode that saw suicide, scandal and espionage invade the secretive world of Swiss private banking. | |
Italy’s Illycaffe sets five year target for U.S. expansionItaly’s Illycaffe could reach its goal of opening 200 cafes in the United States within five years as part of a broader drive to expand its business outside its home market, Andrea Illy, the chairman of the premium coffee maker said. | |
King dollar reigns supreme as U.S. outshines the euro areaThe dollar surged to a 29-month high against a basket of rival currencies on Tuesday, while pummeling the euro to its weakest since May 2017. | |
Ryanair can bide its time for better plane deals, says O’LearyRyanair can wait out price rises sought by planemakers since the global grounding of the Boeing 737 MAX, the Irish airline’s boss said on Tuesday. | |
Pelosi’s Impeachment TrapPelosi’s Impeachment Trap Authored by Eric Posner via Project Syndicate, America’s Democrats have made a serious mistake by launching impeachment proceedings against President Donald Trump. They are replaying the Republican impeachment of Bill Clinton in 1998, a futile exercise that damaged Republicans, enhanced Clinton’s power, and caused institutional damage as well. | |
As The Tide Goes Out, SoftBank Has Been Swimming Naked All AlongAs The Tide Goes Out, SoftBank Has Been Swimming Naked All Along Earlier this year, Japan’s SoftBank Group Corp. announced a $5.5 billion share buyback program as it said valuations for its technology investments continued to soar. Eight months later, and those technology investments are imploding, has since sent Softbank’s stock into a bear market. SoftBank’s share buyback program included measures to repurchase 112 million shares worth $5.5 billion through 1Q20, or about 10% of its current outstanding shares, excluding treasury stock. Upon the announcement of the buyback program, Softbank’s equity nearly doubled from early February to late April. Then by late summer into early Fall, SoftBank’s shares plunged 28% in the last 42 trading sessions, pressured by troubling issues with the SoftBank Vision Fund, the company’s $103 billion venture portfolio. | |
Pound Rallies On Reports EU Ready To Offer Johnson Major Brexit ConcessionPound Rallies On Reports EU Ready To Offer Johnson Major Brexit Concession The British pound swiftly erased a session’s worth of losses Tuesday evening local time following reports that the EU is ready to work with UK PM Boris Johnson to include a time limit on the controversial Irish Backstop. Remember: The Irish backstop is a provision in the withdrawal agreement that would purportedly impose a hard border between Northern Ireland and the rest of the UK if the two sides can’t come up with a permanent trade deal during the post-Brexit negotiating period. The provision is a ‘backstop’ – meaning it only comes into effect if no binding agreement is reached. | |
Global Warming Fraud Exposed In PicturesGlobal Warming Fraud Exposed In Pictures Authored by Mike Shedlock via MishTalk, Climate change alarmists have convinced the public something must be done now. The reports are easily debunked as fraud… | |
Kirana stores hold the whip hand in retail war with Amazon, FlipkartKirana stores hold the whip hand in retail war with Amazon, FlipkartIndia has the market size and talent pool to make things happen and now investors are lining up with capital. | |
How to put shadow banks on firmer groundHow to put shadow banks on firmer groundAn institution that uses public funds to buy stalled projects from builders could halt this crisis of confidence. | |
Slump-hit Auto Inc is chasing glory abroadSlump-hit Auto Inc is chasing glory abroadAs slump continues, some auto majors are looking to revive their exports after years of neglecting that market. | |
August 2019 Construction Spending Year-over-Year Growth ImprovedWritten by Steven Hansen The headlines say construction improved month-over-month. Our analysis shows the rolling averages improved. | |
Outside the Box: Why is it still so hard for women to save for retirement?Behavior among millennial women is ‘truly troubling’ | |
In One Chart: What’s your ‘wealth number?’ This is how rich you are on a scale from -2 to 11Ever wonder where you fit in, wealth-wise, on a scale from œsubsistence farmer to Amazon’s Jeff Bezos? If so, Bloomberg Businessweek is here to help. | |
Outside the Box: Why getting an annuity from your 401(k) is a terrible ideaInsurance companies will love the latest retirement idea from Congress |
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