Written by Gary
US futures have pulled back from yesterday’s FOMC-driven gains amid reported doubts from China has doubts over a long-term US trade deal (SPY -0.1%).
Here is the current market situation from CNN Money | |
European markets are lower today with shares in London off the most. The FTSE 100 is down 0.99% while France’s CAC 40 is off 0.34% and Germany’s DAX is lower by 0.15%. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
U.S. labor costs rise in third-quarterU.S. labor costs increased in the third quarter as a tightening labor market lifted wages across the board. | |
U.S. consumer spending rises moderately, wages flatU.S. consumer spending rose marginally in September while wages were unchanged, which could cast doubts on consumers’ ability to continue driving the economy amid a deepening slump in business investment. | |
U.S. weekly jobless claims rise more than expectedThe number of Americans filing applications for unemployment benefits rose slightly more than expected last week, but the trend in claims remained consistent with strong labor market conditions. | |
World stocks touch 20-month high, bond yields drop after Fed cutsWorld stocks edged to their highest in over 20 months on Thursday after the Federal Reserve cut rates even as it signaled it would hold back from further reductions, sending bond yields and the dollar down. | |
Cigna raises 2019 forecast as Express Scripts buyout powers profit beatCigna Corp raised its full-year earnings target on Thursday, after reporting a better-than-expected quarterly profit boosted by its acquisition of pharmacy benefits manager Express Scripts last year. | |
Encana plans to move base to U.S. amid pipeline crunch in CanadaEncana Corp will shift base to the United States and become Ovintiv Inc, the Canadian oil and gas producer said on Thursday, as Canada faces pipeline capacity shortages that have led many companies to move from the country’s energy sector. | |
Bombardier to sell aerostructures business to Spirit AeroSystemsCanada’s Bombardier said on Thursday it had agreed to sell its aerostructures business to Spirit AeroSystems for more than $1 billion in cash and debt. | |
Britain welcomes Spirit AeroSystems’ purchase of Bombardier’s Belfast siteBritish business minister Nadhim Zahawi on Thursday welcomed Spirit AeroSystems’ purchase of Bombardier’s plant in Belfast as great news for workers and a welcome investment in the United Kingdom. | |
Fiat Chrysler and Peugeot on course to create world’s No.4 carmakerFiat Chrysler and Peugeot owner PSA plan to join forces in a 50-50 share merger to create the world’s fourth-largest automaker, seeking scale to cope with costly new technologies and slowing global demand. | |
Kudlow Tries To Rescue Markets After China Spoiled The PartyKudlow Tries To Rescue Markets After China Spoiled The Party Dow futures were down a horrifying 90 points this morning, erasing all of Powell’s pumpathon after China poured cold water on US-China trade talks. So what does the administration do – to rescue stocks from a terrifying 0.3$ drop? Unleashes The Kudlow: *KUDLOW SAYS U.S.-CHINA TALKS GOING SMOOTHLY: WHITE HOUSE AIDE And the result, reflexive buying by algos… | |
US Incomes, Spending Accelerated In September As Fed’s Favorite Inflation Signal SlowedUS Incomes, Spending Accelerated In September As Fed’s Favorite Inflation Signal Slowed After August’s slowdown in annual growth for spending and income, analysts forecast a modest rebound in September but the data disappointed with personal income up 0.3% MoM (in line with expectations) but spending rose just 0.2% MoM (below the +0.3% MoM expected). | |
Markets Spooked By Report China Doubts Trade Deal Is Ever PossibleMarkets Spooked By Report China Doubts Trade Deal Is Ever Possible S&P futures reversed overnight gains, and European stocks slumped on Thursday after a Bloomberg report that China doubts the possibility of a long-term trade deal with President Donald Trump. And one day after they all slumped following the Fed’s latest rate cut which pushed stocks to all-time highs, safe-haven assets including bonds, gold, and the yen all advanced. | |
NSC Official Who Quit Ahead Of Today’s Impeachment Testimony Reportedly Witnessed Quid Pro QuoNSC Official Who Quit Ahead Of Today’s Impeachment Testimony Reportedly Witnessed Quid Pro Quo A senior National Security Council (NSC) official and John Bolton ally who resigned ahead of today’s testimony with House impeachment investigators reportedly witnessed Trump ally Gordon Sondland convey a quid pro quo arrangement whereby nearly $400 million in US military aid to Ukraine in exchange hinged upon investigations into former Vice President Joe Biden and his son Hunter. | |
Slump worsens: Core sector nosedives to -5.2% in SeptemberSlump worsens: Core sector nosedives to -5.2% in SeptemberThe index was dragged down by coal mining which came in at -20.5 percent. | |
YES Bank gets a binding offer for $1.2 bnYES Bank gets a binding offer for $1.2 bnYES Bank has been trying to raise capital to fight off the liquidity issues. | |
April-Sept fiscal deficit at 92.6% of FY20 targetApril-Sept fiscal deficit at 92.6% of FY20 targetThe revenue deficit for the same period stood at 4.85 lakh crore. | |
Economic Report: U.S. jobless claims rise 5,000 to 218,000 ” California wildfires likely play a roleThe wildfires in California likely spurred an increase in the number of people who applied for unemployment benefits at the end of October, but layoffs across the U.S. remained extremely low in a good sign for the economy. Initial jobless claims totaled 218,000. | |
Share plunge keep Peugeot investors on good side of $50 billion Fiat mergerInvestors take French carmaker value down to terms of planned deal | |
This city’s real-estate market is the least likely to tank during the next recessionIf investors have flocked to your town, keep a close eye on home prices. |
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