Written by Gary
US stocks rallied to close out the trading week today (SPY +0.9%) as the SP 500 set a closing record after an US jobs report and data on Chinese manufacturing.
Oil boosted by robust jobs data, fall in U.S. rig count, China trade hopes
The Market in Perspective
Here are the headlines moving the markets. | |
Barneys’ Madison Avenue store to remain open for at least a yearBarneys New York Inc’s flagship Madison Avenue outlet in Manhattan will remain open for at least another year in a slimmed-down form while the buyer of the luxury retailer’s brands negotiates with the store’s landlord. | |
Exclusive: U.S. opens national security investigation into TikTok – sourcesBy Greg Roumeliotis, Yingzhi Yang, Echo Wang and Alexandra Alper | |
Wall Street rallies to highs after upbeat U.S. jobs dataU.S. stocks rallied to close out the trading week on Friday as the S&P 500 set a closing record for the third time in five days after an upbeat U.S. jobs report and data on Chinese manufacturing lessened concerns about slowing global growth. | |
Oil rises nearly 4% on U.S.-China trade hopes, but sets weekly declineOil prices rose nearly 4% on Friday on signs of progress in U.S.-China trade talks and stronger-than-expected economic data in both countries, including U.S. employment and Chinese manufacturing activity numbers. | |
U.S. Supreme Court to review SEC’s power to recover ill-gotten gainsThe U.S. Supreme Court on Friday agreed to hear a challenge to the ability of the Securities and Exchange Commission to recover ill-gotten profits obtained through misconduct in a case from California that could weaken the agency’s enforcement power. | |
Apple asks U.S. to waive tariffs on Chinese-made watches, iPhone parts, AirPodsApple Inc asked the Trump administration to waive tariffs on Chinese-made Apple Watches, iPhone components and other consumer products, according to company filings with the U.S. Trade Representative’s Office. | |
Google taps fitness tracker market with $2.1 billion bid for FitbitAlphabet Inc-owned Google will buy Fitbit Inc for $2.1 billion, as the biggest Web search company looks to take on Apple and Samsung in the crowded market for fitness trackers and smart watches. | |
Factbox: Fight for fitness – With Fitbit, Google takes on Xiaomi, Apple, SamsungCompetition in the wearable market is taking a turn as Alphabet Inc-owned Google buys Fitbit Inc in a bid to take on Apple and Samsung. | |
Shares, crude prices rise on U.S., China dataWorld equity markets surged and crude oil prices jumped on Friday after a stronger-than-expected U.S. employment report, a surprise bounce in Chinese manufacturing and optimism over U.S.-China trade talks tamped down fears of slowing global growth. | |
“Extreme Greed” Trigger’d – Gold, Bonds, & Stocks Rally As Dollar Dives“Extreme Greed” Trigger’d – Gold, Bonds, & Stocks Rally As Dollar Dives Thanks to a melt-up today, US equities (apart from Trannies) ended the week higher… | |
Halloween Is Over… And The Jig Is Up For DemocratsHalloween Is Over… And The Jig Is Up For Democrats Authored by James Howard Kunstler via Kunstler.com, And so Nancy Pelosi and Adam Schiff take the Republic into a dangerous defile on a dark day as they engineer a House resolution with rules for a medieval-style inquiry on the existence of phantoms. The phantom du jour, of course, is the fabled œwhistleblower, a CIA ectoplasm identified by everybody and his uncle in Swampland as one Eric Ciarmarella, 33, a former Joe Biden staffer, Obama White House low-level NSC holdover, and John Brennan œasset deeply involved in Ukrainian pranks during the 2016 election and subsequent disinformation leakage to the media since the early days of the Trump administration. The œwhistleblower’s trail winds through every shadowy turn of RussiaGate to the current phantasmagoria of UkraineGate, and connects the principal misdeeds carried out along the way including Hillary Clinton’s devious operations with Fusion GPS, the Comey-led FBI’s illegal entanglement with CIA spying on US citizens (including occupants of the White House), and lately the mendacious maneuvers of House Intel Committee chair Mr. Schiff. | |
Predictions Of Stock Market Carnage Based On Who’s Elected Are Almost Always WrongPredictions Of Stock Market Carnage Based On Who’s Elected Are Almost Always Wrong With recent forecasts of market mayhem if Elizabeth Warren is elected, Bloomberg would like to remind everybody that past predictions of a presidential candidate’s impact on equities are usually wrong. | |
US vs China: Unstoppable Force Vs Immovable ObjectionUS vs China: Unstoppable Force Vs Immovable Objection Submitted by Michael Every of Rabobank, Markets were rocked yesterday by further bad news on the trade front. Not only is the APEC venue not available for Trump and Xi to meet, but according to a news report senior Chinese officials have little faith in the US sticking to any deal, have literally no appetite for the large up-front agri purchases that the US is insisting on, and are refusing to contemplate any immediate start on a ‘phase 2’ deal without the States removing tariffs ” which isn’t going to happen. All in all one could almost make the argument that this is case of unstoppable force (the US) vs. unmoveable objection (China), and hence a real trade deal can’t be done. Of course, we have made exactly that projection since before the trade war even started. Indeed, we aren’t compelled to change that view despite both Larry Kudlow and Chinese officials scrambling to let the world press (meaning stock markets) know that the two sides are close to agreement, really. Do they actually agree? Yes ” on their irreconcilable differences. Now just isn’t the time to advertise that agreement to disagree too loudly: but supply chains will keep moving anyway. Consider that US Secretary of State Pompeo and Vice President Pence have both made clear from the US side that China must reform or decoupling, even if undesirable, looms: Pompeo openly talked about œconfronting the Chinese Communist Party . For its part, the Chinese Communist Party’s fourth plenum this week announced œnational security and œrising risks were the immediate prio … | |
For Amazon, a perfect Future now depends on 40 questionsFor Amazon, a perfect Future now depends on 40 questionsAs per sources, CCI has asked Amazon more than 40 questions related to Future Retail deal and its businesses. | |
Why WhatsApp row is a wake-up call for IndiaWhy WhatsApp row is a wake-up call for IndiaIndia holds for around a fourth of WhatsApp’s global 1.5 bn accounts. The security hole has made many fearful. | |
WTO just gave US a rude jolt in tiff with ChinaWTO just gave US a rude jolt in tiff with ChinaA WTO panel said that China was entitled to slap compensatory sanctions on US imports worth $3.579 bn. | |
‘Mattress Mack’ says he lost $13 million betting on the Houston Astros. Silver lining? The attention he got was worth $8.6 million for his storeJim McIngvale says the bets were a hedge to cover losses he would have incurred for a promotion he offered customers if the Astros won the World Series. | |
Market Extra: Dow and S&P 500 are guaranteed to rise at least another 5% in the next 2 months ” if this 70-year-old pattern holdsThe markets have enjoyed an anxiety-ridden climb toward all-time highs, but if this statistical trend for equity benchmarks holds up, there is much more room to run. | |
Why Trump’s move from New York to Florida for tax purposes could be ‘doomed’‘Simply declaring yourself a resident doesn’t make it so.’ |
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