Written by Gary
The SP 500 almost made a new historic high, missing by a few dollars (SPY +0.5%).
Here is the current market situation from CNN Money | |
 | North and South American markets are mixed today. The S&P 500 is up 0.47% while the Bovespa gains 0.15%. The IPC is off 0.55%. |
Traders Corner – Health of the Market
Baker Hughes data show a weekly drop in the U.S. oil-rig count
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| Oil prices steady, heads for strong weekly gainOil prices were steady on Friday but were on track for the strongest weekly gains in more than a month as support from falling U.S. crude inventories, optimism over a U.S.-China trade deal and possible action from OPEC and its allies to extend output cuts outweighed broader economic concerns. |
| U.S., China ‘close to finalizing’ parts of Phase 1 trade pact: USTRU.S. and Chinese trade officials are “close to finalizing” some parts of an agreement after high-level telephone discussions on Friday, the U.S. Trade Representative’s office said, adding that deputy-level talks would proceed “continuously.” |
| Big U.S. retailers pull 22-ounce J&J baby powder off shelves after recallFour major U.S. retailers, including Walmart and Target Corp, are removing all 22-ounce bottles of Johnson & Johnson’s baby powder from their stores, following the healthcare conglomerate’s recall last week of some bottles due to possible asbestos contamination. |
| General Motors strike to cut U.S. October job growthA strike by General Motors will likely slash at least 46,000 jobs from October’s nonfarm payrolls, a Labor Department report showed on Friday. |
| S&P 500 rises above record closing high on U.S.-China trade reportThe S&P 500 on Friday rose above its record closing high after a report that the United States and China were close to finalizing parts of a trade pact. |
| USTR says close to finalizing parts of trade deal with ChinaThe United States and China are close to finalizing some sections of a trade agreement after a phone call between top negotiators, the U.S. Trade Representative’s office said on Friday. |
| EasyJet adds Orly baggage connections with long-haul partnersLow-cost airline easyJet has added baggage services to its flight-connections partnership with two budget long-haul carriers flying from Paris, in a move that challenges Air France on transatlantic and Caribbean leisure routes. |
| Verizon earnings beat estimates as cheaper plans attract customersVerizon Communications Inc beat Wall Street estimates for third-quarter profit and revenue on Friday, as the largest U.S. wireless carrier cut prices of its unlimited plans to pull in more subscribers who pay monthly bills. |
| Boeing considered system redesign before accidents: NTSB reportBoeing engineers and test pilots considered before two fatal 737 MAX crashes whether an anti-stall system should be redesigned after discussing how flawed data from a single sensor could trigger it repeatedly, U.S. investigators have found. |
| PG&E Crashes To All Time Low Over Fears It Will Be Blamed For Latest California InfernoPG&E Crashes To All Time Low Over Fears It Will Be Blamed For Latest California Inferno Shares of California’s largest, insolvent utility, PG&E, plunged 26% to a new all time low on Friday… |
| Endorsement Time: Soros Says Warren “Most Qualified To Be President”Endorsement Time: Soros Says Warren “Most Qualified To Be President” George Soros, like Barack Obama, has passed over former Vice President Joe Biden when it comes to the 2020 US election. In a wide-ranging interview with the New York Times, the progressive billionaire predicted that Senator Elizabeth Warren of Massachusetts will become the Democratic nominee who will face Trump in 2020. |
| Cryptos Are Exploding Higher, Bitcoin Up Over $1,000 In MinutesCryptos Are Exploding Higher, Bitcoin Up Over $1,000 In Minutes After a bloodbath of a week, Cryptos are suddenly soaring higher this morning. The entire space is a sea of green… |
| Did Trump Outsmart Putin With Syria Retreat?Did Trump Outsmart Putin With Syria Retreat? Authored by Zev Chafets, op-ed via Bloomberg.com, Russia will soon find itself caught between Turkey and Syria… |
| The plan to make Jio nearly debt-free by end of this fiscal is hereThe plan to make Jio nearly debt-free by end of this fiscal is herePost this move, Jio will only have spectrum-related liabilities on its books, RIL noted. |
| JLR numbers help Tata Motors cut Q2 lossJLR numbers help Tata Motors cut Q2 lossCompany’s Jaguar and Land Rover business improved performance thanks to a better sale in China. |
| What’s next on India’s wish list for the FM?What’s next on India’s wish list for the FM?An ET Online survey has found out what people want next after last month’s corporate tax cut. |
| 18 October 2019 ECRI’s WLI Growth Rate Declined And Returned To Contraction
ECRI’s WLI Growth Index which forecasts economic growth six months forward declined and returned to contraction. ECRI also released its coincident and lagging indicators. |
| 3 ways the revamped American Express Green Card is a sign of the timesCharge cards are becoming a thing of the past. |
| Commodities Corner: Silver’s risk-to-reward appeal among ‘best opportunities in a decade’Silver prices have fallen 9% from this year’s highs “an opportunity for investors to buy the metal that has outperformed gold so far this month. |
| Cannabis Watch: Hexo stock slides another 4% to weigh on cannabis sector after job cuts prompt downgradeHexo Corp. stock fell another 4% Friday, bringing its weekly losses to 12%, after CIBC downgraded the stock and said the 200 job cuts announced Thursday were the latest sign of the challenges facing the Quebec-based cannabis company. |
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