Written by Gary
Stocks rallied today (SPY +1.4%) as traders grew more optimistic over the possibility of a limited trade deal between China and the US.
Here is the current market situation from CNN Money | |
 | North and South American markets are broadly higher today with shares in Brazil leading the region. The Bovespa is up 1.96% while U.S.’s S&P 500 is up 1.42% and Mexico’s IPC is up 0.66%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| Oil rises 2% after reports of Iranian tanker attackOil prices rose about 2% on Friday after Iranian media said a state-owned oil tanker had been attacked in the Red Sea near Saudi Arabia, pushing Brent crude above $60 a barrel for the first time this month. |
| GM appeals directly to employees as strike losses mount, riling UAWGeneral Motors Co took the unusual step of appealing directly to employees in a blog post on Friday that laid out the terms of the automaker’s latest offer aimed at ending a month-long strike, angering the union with which it is negotiating. |
| Trump sees ‘good things’ in trade talks; China dangles partial dealU.S. President Donald Trump sounded an optimistic note on Friday as high-level trade talks with China entered a second day, while Beijing indicated it was open to a “partial” deal that would avoid a planned hike in tariffs on its goods this month. |
| Chinese delegation departs USTR building as U.S. trade talks concludeChinese officials, led by Vice Premier Liu He, departed the U.S. Trade Representative’s office on Friday, signaling that two days of U.S.-China trade talks had concluded. |
| British regulator reviews JPMorgan metals trading amid U.S. probe: sourcesBritain’s financial services regulator is examining allegations of precious metals market manipulation by JPMorgan Chase & Co traders following criminal charges by U.S. authorities, according to two people familiar with the matter. |
| Wall Street rallies on trade deal hopes; Apple hits record highWall Street rose for the third straight session on Friday, as investors expected top-level trade talks between the United States and China to result in a partial trade deal and delay planned U.S. tariff increases. |
| California governor says broad power shutdown to prevent fires ‘unacceptable’California Governor Gavin Newsom called a widespread electricity shutdown triggered by a power company to prevent wildfires “unacceptable”, as gale-force winds and dry weather posed a critical fire threat to the north of the state. |
| Two California wildfires destroy homes near Los Angeles, leaving at least one deadA pair of wildfires has destroyed dozens of homes near Los Angeles, killed a man and forced some 100,000 residents to evacuate, fire officials said on Friday, days after power cuts were ordered across the state to prevent fires. |
| Wall Street Week Ahead: Bruised U.S. banks expected to report third quarter earnings declineThe biggest U.S. banks are expected to kick off the earnings season on a sour note next week due to falling interest rates, which may have pressured net interest margins enough to cause the sector’s first year-over-year earnings per share decline in three years. |
| CIA ‘Whistleblower’ Assisted By James Clapper AssociateCIA ‘Whistleblower’ Assisted By James Clapper Associate A CIA officer who worked with former Vice President Joe Biden, flipped out when he found out Trump wanted Biden investigated, and submitted an embellished whistleblower complaint with the help of Democratic operative attorneys was assisted by former Inspector General for the Intelligence Community, Charles McCullough - who worked for President Obama’s Director of National Intelligence and current CNN talking head, James Clapper.Â
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| Drexel Professor Busted Blowing Federal Research Funds At Strip ClubsDrexel Professor Busted Blowing Federal Research Funds At Strip Clubs Authored by Jon Street via Campus Reform, A Pennsylvania professor spent taxpayer dollars intended for federal research at strip clubs and sports bars, according to the U.S. Department of Justice. |
| US To Send ‘Thousands’ More Troops To Saudi ArabiaUS To Send ‘Thousands’ More Troops To Saudi Arabia Reuters reports, citing defense or administration sources, that the US is set to send thousands of additional troops to Saudi Arabia in the wake of last month’s Aramco attacks. “The United States is planning to send a large number of additional forces to Saudi Arabia following the Sept. 14 attack on its oil facilities, which Washington and Riyadh have blamed on Iran,” according to a breaking Reuters report. |
| With Oval Office Meeting Looming, This Is Where Trade Talks StandWith Oval Office Meeting Looming, This Is Where Trade Talks Stand Traders have been playing “Chutes and Ladders” with conflicting trade headlines all week. But as President Trump prepares to meet with Chinese Vice Premier Liu He Friday afternoon, the market has latched on to hopes that a partial – or “skinny” – trade deal might be reached. For those who haven’t paid attention to every twist and turn in the trade-talk narrative over the past week, here’s a very brief summary of where we stand. Downbeat reports about China’s delegation planning to depart from Washington a day early morphed into positive headlines on Thursday as the two sides held their first face-to-face meeting in months. As Trump assured investors that everything was going great, there were reports that the two sides had decided on a currency agreement. But by Friday morning, that had morphed into China offering to scrap its requirement that foreign financial services companies find a local partner before opening up shop on the mainland. Others reported that Washington might ease sanctions on Huawei. Meanwhile, sources told BBG that the currency agreement resembled a deal that the two sides had hammered out earlier this year before talks broke down. |
| We just can’t damn GST now, says Nirmala SitharamanWe just can’t damn GST now, says Nirmala Sitharaman”GST might have flaws but I’m sorry, it’s the ‘kanoon’ of the country now,” the Finance Minister said. |
| Why Telangana is sitting on time bombWhy Telangana is sitting on time bombThe frighteningly high uranium concentration in groundwater samples were found by the AMD. |
| Air travel is about to get a lot betterAir travel is about to get a lot betterThe airlines will have to send periodic messages to passengers to keep them updated on delays. |
| 04 October 2019 ECRI’s WLI Growth Rate Improves and Is In Expansion
ECRI’s WLI Growth Index which forecasts economic growth six months forward improved and is in expansion. |
| Cannabis Watch: Cannabis stocks mostly higher after major rout even concerns about lack of profit persistCannabis stocks were mostly higher Friday, recovering some of the steep losses suffered in the previous session as concerns about the lack of profits in the sector sparked a massive rerating of risk. |
| Top Ten: Weekend roundup: Money advice for daughters vs. sons | Retiring in Portugal | Biotechs, Netflix and pot stocksAlso, how to make a lot of money investing in China. |
| Columbus Day: Which markets are closed?Many market participants are hoping for a little quiet on this upcoming U.S. holiday after lots of stormy sailing. |
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