18Oct2019 Midday Update: Wall Street Edged Lower Set To End A Strong Week On A Downbeat Note, DOW Down 170 Points, Heavyweight Johnson and Johnson Slipped

Here is the current market situation from CNN Money

North and South American markets are lower today with shares in Mexico off the most. The IPC is down 0.48% while Brazil’s Bovespa is off 0.35% and U.S.’s S&P 500 is lower by 0.30%.

Exclusive: Boeing 2016 internal messages suggest employees may have misled FAA on 737 MAX – sources

Boeing Co turned over instant messages from 2016 between two employees that suggest the airplane maker may have misled the Federal Aviation Administration about a key safety system on the grounded 737 MAX, sources briefed on the matter said.

Johnson & Johnson to recall some baby powder as FDA finds traces of asbestos

Johnson & Johnson said on Friday it is recalling around 33,000 bottles of baby powder in the United States after U.S. health regulators found trace amounts of asbestos in samples taken from a bottle purchased online.

Johnson & Johnson says baby powder investigation could take 30 days or more

Johnson & Johnson said on Friday its investigation into asbestos contamination of its baby powder could take 30 days or more, after announcing it planned to recall about 33,000 bottles of the product in the United States.

Wall Street pressured by J&J, global growth concerns

Wall Street edged lower on Friday, set to end a strong week on a downbeat note, as heavyweight Johnson & Johnson slipped and worries over global economic growth were rekindled by gloomy data out of China.

Judge’s unorthodox approach has huge opioid settlement within reach

From the start of the sprawling U.S. litigation seeking to hold drugmakers and distributors liable for the country’s opioid epidemic, Judge Dan Polster has made one thing clear: he never wanted a trial.

Opioid litigation talks can ‘get a long way’ to deal: lawyer

Executives from several large healthcare companies and state attorneys general were progressing toward what is expected to be a multibillion dollar deal to resolve the sprawling litigation over the U.S. opioid epidemic, a plaintiffs’ lawyer said Friday.

Oracle co-CEO Mark Hurd passes away

Oracle Corp co-Chief Executive Officer Mark Hurd passed away on Friday, the business software maker said.

In oil-rich region, Venezuelans fear catastrophe if Trump forces Chevron to leave

With the $2 he earns in wages each week working as a cargo driver for Venezuelan state oil company PDVSA, 56-year-old Freddy Brito cannot even afford to buy one kilogram (2.2 lb) of cheese.

Schlumberger takes $12 billion charge as CEO charts new course

Schlumberger NV’s new chief executive wielded an axe to the company’s asset-heavy businesses, taking a $12.7 billion charge in the face of weaker shale drilling and sliding profits.

“Everyone’s Afraid”: Mexican Cops Forced To Surrender El Chapo’s Son After Brutal Cartel Battle

“Everyone’s Afraid”: Mexican Cops Forced To Surrender El Chapo’s Son After Brutal Cartel Battle

After seeing what happened to El Chapo, Mexican’s gun kingpins aren’t allowing themselves to be captured quite so easily, reckoning that escaping from a maximum security cell in the states truly is impossible. An intense gunfight broke out in Culiacan, the capital of Mexico’s Sinaloa State, on Friday, blocking roads and effectively paralyzing the whole city, as cartel gunmen repelled an attempt by Mexican police to capture one of the sons of Joaquin “El Chapo” Guzman.

The son is wanted in the US for drug trafficking, suspected of involvement in his father’s criminal organization. Mexican Security Secretary Alfonso Durazo said 30 members of the Mexican National Guard and Army were patrolling in Culiacan when suddenly they were fired upon from a nearby house.

They managed to repel their attackers, and inside the house, they found Ovidio Guzmán López. The violence began shortly after 3:30 pm local time on Thursday.

The Crackdown On Illegal Immigration Is Hurting Oil Drillers

The Crackdown On Illegal Immigration Is Hurting Oil Drillers

Authored by Tsvetana Paraskova via OilPrice.com,

U.S. crude oil production growth may have slowed down this year, but the largest oil-producing counties in the Permian basin continue to feel a shortage of labor. Â

The predicament for small oil services business owners in New Mexico is aggravated by the surge in worksite audits, investigations, and arrests as part of U.S. President Donald Trump’s tougher stance on illegal immigration.Â

Hillary Clinton Pitches Conspiracy Theory That Tulsi Gabbard, Jill Stein Are Russian Assets

Hillary Clinton Pitches Conspiracy Theory That Tulsi Gabbard, Jill Stein Are Russian Assets

Hillary Clinton is still peddling election-related conspiracy theories, this time hinting that 2020 Democratic contender Tulsi Gabbard is being ‘groomed’ to split the Democratic vote as a third party candidate, thus handing the election to President Trump.Â

Speaking with former Obama 2008 campaign manager David Plouffe on his podcast, “Campaign HQ with David Plouffe,” Clinton said – without mentioning Gabbard by name: “I’m not making any predictions but I think they’ve got their eye on somebody who is currently in the Democratic primary and are grooming her to be the third-party candidate. She’s the favorite of the Russians.”Â

Of course, that’s “assuming Jill Stein will give it up – because she’s also a Russian asset,” Clinton continued.Â

Hillary Clinton doesn’t just predict the Russians will support Tulsi Gabbard as a third-party candidate; she also calls Jill Stein “a Russian asset — I mean totally.”

Full context: pic.twitter.com/a5wZeCKWsd

” Aaron Blake (@AaronBlake) October 18, 2019

Boeing Shares Battered After 2016 Text Messages Reveal Company Misled FAA About 737 MAX

Boeing Shares Battered After 2016 Text Messages Reveal Company Misled FAA About 737 MAX

Boeing shares are under pressure following a Reuters report that internal instant messages from 2016 – that have only recently been shared with the FAA – suggested employees misled the FAA about a key safety system on the 737 Max.

The FAA Administrator is demanding an explanation from Boeing regarding the delay in the recently disclosed 737 MAX ‘smoking gun’ documents. As CNBC notes, the FAA says Boeing discovered the messages œsome months ago and the flight regulatory agency finds the document œconcerning.

œThe FAA is also disappointed that Boeing did not bring this document to our attention immediately upon its discovery, the agency said.

œThe FAA is reviewing this information to determine what action is appropriate.

The document was shared with lawmakers investigating the plane’s certification, the FAA added.

The stock is down 3% and falling…

Thought the govt was done with economic boosters? Think again

Thought the govt was done with economic boosters? Think againThe CEA said govt plans to take more steps to boost consumer demand including simplifying personal taxes.

Key takeaways from RIL’s Q2 numbers

Key takeaways from RIL’s Q2 numbersReliance Jio crossed Rs 5,000 crore quarterly EBITDA mark for the first time.

Singh brothers have a settlement plan

Singh brothers have a settlement planSingh brothers are lodged in Tihar jail since Thursday after the court sent them to 14-day judicial custody.

11 October 2019 ECRI’s WLI Growth Rate Declines And Barely Hangs On In Expansion

Written by Steven Hansen

ECRI’s WLI Growth Index which forecasts economic growth six months forward declined and barely remains in expansion.

Market Snapshot: U.S. stock market falls on economic growth concerns

U.S. stocks fell Friday after data showed China’s economic growth slowing further in the third quarter and investors awaited more signals from the corporate earnings season about the health of the U.S. economy.

Commodities Corner: Why the IMO 2020 marine fuel sulfur limit will hurt consumers

A new rule that sets a much lower global limit on sulfur content in marine fuel is on the horizon, leading to higher shipping costs that may ultimately force consumers to pay more for goods and to heat their homes.

Cannabis Watch: One year on, Canada’s legal cannabis market is down but not out

Canadian cannabis companies should be celebrating the first anniversary of legalized weed on Thursday, but the party atmosphere has been tainted by a sharp three-month selloff that has seen many companies surrender half their value or more.