Written by Gary
US stock index futures are little changed this morning (SPY +0.01% flat), as better-than-expected earnings reports were overshadowed by fresh jitters about the global economy.
Here is the current market situation from CNN Money | |
 | European markets are mixed. The DAX is higher by 0.01%, while the CAC 40 is leading the FTSE 100 lower. They are down 0.41% and 0.05% respectively. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
 | Kansas City Southern profit beats on increased petroleum shipments to MexicoRailroad operator Kansas City Southern on Friday reported a better-than-expected quarterly profit, helped by an increase in refined fuel products and liquid petroleum gas shipments to Mexico and lower fuel and equipment costs. |
| How a small aluminum maker won U.S. trade protectionWhen Donald Trump won the White House, the sprawling aluminum smelter that hugs the Ohio River here was operating at less than half its capacity, and most of its skeleton crew of 270 remaining workers were fearful about their future. |
| Schlumberger profit beats as international gains offset weak North AmericaSchlumberger NV beat Wall Street estimates for profit on Friday, in the first quarter under Olivier Le Peuch, as higher international drilling activity boosted demand for its equipment and services and helped counter weakness in North America. |
| Shares sapped by poor China growth, dollar gets weekly maulingWorld stocks flatlined after China posted its weakest growth in nearly three decades on Friday, while the dollar headed for its worst week in almost four months having been pummeled by pound and euro Brexit rallies. |
| Oil ticks up as rising crude stocks are offset by products demandOil prices rose slightly on Friday as concern over an economic slowdown in China, the world’s biggest oil consumer, was countered by bullish signals from both the Chinese and U.S. refining sectors. |
| American Express profit beats Wall Street estimates on higher consumer spendingCredit card issuer American Express Co reported a higher-than-expected rise in third-quarter profit on Friday, as more people used cards to shop, pay bills and make big ticket purchases. |
| Tesla’s Nuerburgring run revs up debate over speed recordsTesla Inc’s attempts to humble Porsche with a new lap record on Germany’s legendary Nordschleife racetrack have reignited a controversy about the value of lap times, as the circuit steps in to quash claims of cheating. |
| Futures flat as China data gloom overshadows upbeat earningsU.S. stock index futures were little changed on Friday, as better-than-expected earnings reports were overshadowed by fresh jitters about the global economy after economic data from China revealed growth slowed to its weakest pace in almost 30 years. |
| Zero-sugar sodas drive Coca-Cola revenue beatCoca-Cola Co reported better-than-expected quarterly revenue on Friday, boosted by strong demand for its zero-sugar sodas and Coca-Cola Plus Coffee, a blend of its traditional soda and coffee. |
| US Imposes A Record $7.5 Billion In Tariffs On European Goods; Europe Vows RetaliationUS Imposes A Record $7.5 Billion In Tariffs On European Goods; Europe Vows Retaliation Submitted by Michael Every of Rabobank Deals Flying Around The final quarter of 2019 is shaping up as a quarter of deals. A œphase-1 trade deal between the US and China is in the making, the US just agreed with Turkey on a ceasefire in Syria, and UK Prime Minister Boris Johnson struck a last-minute deal with the EU yesterday. And the world’s just become a better place, right? Well, not so fast! Remember that the US-China trade deal is just œprogress in the eyes of China and it remains to be seen whether this leads to a signing ceremony at the APEC meeting in Chile next month, especially as the Trump administration doesn’t seem willing to roll back current tariffs, a key demand by China. Meanwhile, the US tariffs on USD7.5bn of European goods have just kicked in, and Cheese, wine, olives and many other European goods will be subject to a price hike; the French Economy Minister Bruno Le Maire said on the sidelines of the IMF annual meetings that œEurope is ready to retaliate, in the framework of course of the WTO.” |
| Schiff Staffer Flew To Ukraine 2 Months Ago, Met With Impeachment WitnessSchiff Staffer Flew To Ukraine 2 Months Ago, Met With Impeachment Witness A staffer for Rep. Adam Schiff’s House Intelligence Committee flew to Ukraine in late August on a trip organized and sponsored by the Atlantic Council, where he met with a key witness for the Democrats’ ongoing impeachment efforts. |
| World Stocks Drop, Futures Tread Water After China Reports Worst GDP Growth In 30 YearsWorld Stocks Drop, Futures Tread Water After China Reports Worst GDP Growth In 30 Years World stocks slipped and US equity futures were unchanged after China posted its weakest growth rate in 30 years, as Q3 GDP disappointed, printing a below-expectations 6.0%… |
| New York City Council Votes To Close Rikers Island JailNew York City Council Votes To Close Rikers Island Jail Lawmakers in New York City voted Thursday to close the Rikers Island Jail complex as part of a new modernization effort that includes smaller jails throughout the city, reported Bloomberg. New York City Council voted 36-13 to shut down the jail by 2026, in favor of ten small prisons, one in each borough except Staten Island. New York City Mayor Bill de Blasio is leading a movement in the city towards ending mass incarceration. Rikers Island, a historic jail complex situated in the East River between Queens and the Bronx, is the world’s largest correctional and mental institution. |
| State-run firms are fighting Sebi over governance lapsesState-run firms are fighting Sebi over governance lapsesThis is not the first instance where listed government entities have refused to comply with Sebi rules. |
| GST regulation puts companies in a fixGST regulation puts companies in a fixThe regulation disallows firms to take input tax credit if vendor invoices are not uploaded on the GST network. |
| Is US losing lustre for Indian MBA aspirants?Is US losing lustre for Indian MBA aspirants?Interestingly, large, highly ranked, full-time, two-year MBA programs in US saw the steepest declines. |
| Autotrader: 7 family sedans with the highest safety ratingsHere are some great midsize sedans that also earned a coveted IIHS Top Safety Pick+ rating |
| Market Snapshot: Stock-index futures edge higher, on track for positive week as earnings season beginsStock-index futures trade flat to slightly higher after data showed China’s economy continued to cool in the third quarter, looking for direction at the end of a week that saw equities buoyed by a strong start to earnings season. |
| SmileDirectClub stock falls anew after company files suit against California Dental BoardSmileDirectClub Inc. shares tumbled anew on Thursday, after the company filed a lawsuit against the California Dental Board and individual members, claiming that they attempted to intimidate its staff and customers in a series of raids on its SmileShops across the state. |
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