Written by Gary
US stock futures flat on the negative side (SPY -0.06%) as investors weighs China-US tariff rollback talk.
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 0.51% while Germany’s DAX is off 0.51% and France’s CAC 40 is lower by 0.35%. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
With discounts galore and Taylor Swift, Alibaba eyes another record Singles’ DayAlibaba Group will kick off its annual 24-hour shopping extravaganza on Monday with deals and deep discounts galore, and a performance by American popstar Taylor Swift to top it all, as it pushes to rake in another record Singles’ Day sales. | |
White House says tariff could be removed if U.S.-China trade deal reachedTariffs could be lifted amid the U.S.-China trade deal if an agreement is reached, a White House spokeswoman said on Friday, citing optimism about a final pact but giving no further details. | |
U.S. charges New York company with illegal Chinese equipment salesFederal prosecutors have filed criminal charges accusing a New York company of exposing the U.S. government and private customers to security risks by illegally importing and selling surveillance and security equipment from China. | |
China, U.S. agree tariff rollback if phase one trade deal is completedChina and the United States have agreed to roll back tariffs on each others’ goods in a “phase one” trade deal if it is completed, officials from both sides said on Thursday, sparking division among some advisers to President Donald Trump. | |
Wall Street Weekahead: Small-cap shares poised to benefit from shift to valueBeleaguered shares of small U.S. companies are set for a bump in performance as value stocks have risen, market analysts say, but small caps could quickly fade again with an economic setback. | |
Gap CEO exiting as forecast cut casts doubt on turnaroundGap Inc said on Thursday Chief Executive Officer Art Peck will leave the company, a surprise exit in the middle of a restructuring that comes as the apparel retailer slashed its full-year earnings forecast, sending its shares down 7%. | |
Old Navy spin-off in doubt after Gap’s Peck departs: analystsShares of Gap Inc fell nearly 10% on Friday, as the surprise departure of Chief Executive Officer Art Peck and persistent declining sales, threw the apparel retailer’s planned spin-off of its Old Navy brand into question. | |
Factbox: Gap goes in-house for new interim bossRobert Fisher, the son of Gap Inc’s founders, took over as interim chief executive officer of the apparel retailer on Thursday, tasked with putting the company on the path to a turnaround and negotiating the planned spin-off of Old Navy. | |
Exclusive: Boon for Hong Kong as Alibaba plans $15 billion listing in late November – sourcesChinese retail titan Alibaba plans to list in Hong Kong in the final week of November, two people with direct knowledge said, aiming to raise up to $15 billion in a deal that signals a vote of confidence in the Asian financial hub. | |
Blain: If Yields Rise Any Higher, The Melt-Up Will Quickly ReverseBlain: If Yields Rise Any Higher, The Melt-Up Will Quickly Reverse Blain’s morning porridge, submitted by Bill Blain of Shard Capital
Stock markets are staging a Melt-up! China and the US have agreed to roll back sanctions. Whoopee! Everything is fine and dandy. No ¦ it’s not. Might be time to hedge with some puts. As stocks soared, bonds suffered. Earlier this week I asked a number of clients for their predictions on markets in 2020 ” one them replied: œ I am expecting to see a massive correction in the bond markets. 10 yr UST moving above 3%, 10 yr Bunds above 1%. Credit spreads blowing out and Stock markets falling 20 to 30%. The trigger? Perhaps a deal between Xi and Trump? A coconut is on its way to that chap for his bond comment. This morning we have most European bonds back in positive yield territory. (I note with some amusement Greece yields less than Italy!) 10-year Treasuries flirted with 2% yesterday ” now at 1.90%. | |
Navarro Doubles Down On Trade Deal Report Denial, Says “Only Trump” Can Remove TariffNavarro Doubles Down On Trade Deal Report Denial, Says “Only Trump” Can Remove Tariff Detective Rustin Cohle would have had a field day with the trade negotiations. Like Cohle’s catchphrase from Season One of “True Detective” goes: “Time is a flat circle – everything we have done or will do we will do over and over and over again, forever.” First, there were anxieties about the fate of the “Phase 1” trade deal, followed by rumors that the two sides might be able to work something out, followed by false reports that a multi-phase deal had been struck, and now…the White House is pouring cold water on these rumors, insisting that the two sides are nowhere near a deal to remove all US trade war tariffs. If we had to represent this visually, the chart would look like this: | |
Round 2: Musk Responds To Einhorn’s “Fraud” Accusations, Mocks Greenlight’s PerformanceRound 2: Musk Responds To Einhorn’s “Fraud” Accusations, Mocks Greenlight’s Performance Emboldened by Tesla’s stock rising nearly 100% off its 52 week lows (and who knows what else), Elon Musk took to Twitter at about midnight Pacific Time to once again taunt short Tesla short sellers. This time it was Greenlight’s David Einhorn that drew his ire. Responding to a Tweet of a Zero Hedge article that contained an except from Einhorn’s Q3 investor letter, Musk copied and pasted his own letter back to Einhorn, referring to him as “Mr. Unicorn”.
Musk started off by claiming that Einhorn’s comments about Tesla were just “saving face” with his investors. He then mocks Einhorn’s performance, noting his “sharp drop in assets under management”.
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Futures Flat At All Time High In Anticipation Of More “Trade Deal Optimism”Futures Flat At All Time High In Anticipation Of More “Trade Deal Optimism” One day after US equity futures hit a new all time high and European stocks traded just shy of their April 2015 record on fresh signs of “trade deal optimism”… | |
Ask almighty: Sebi chief on Nilekani’s God remarkAsk almighty: Sebi chief on Nilekani’s God remarkThe comments come after Nilekani said processes at Infy are so strong that God cannot change their numbers. | |
Moody’s downgrades outlook on Indian cosMoody’s downgrades outlook on Indian cosMoody’s has downgraded outlook on companies from IT, infrastructure and oil & gas sectors. | |
D-Street made Rs 43 lakh crore since DeMoD-Street made Rs 43 lakh crore since DeMoDespite telecom, auto, healthcare and PSU indices sliding 8-19 % in these three years, cash came in. | |
Rail Week Ending 02 November 2019 Intuitive Sectors Worsening AcceleratesWritten by Steven Hansen Week 44 of 2019 shows same week total rail traffic (from same week one year ago) contracted according to the Association of American Railroads (AAR) traffic data. The economically intuitive sectors rolling averages remain in contraction – and declined further. | |
Market Extra: Which markets are closed on Veterans Day?In observance of U.S. Veterans day, the bond market will be closed next Monday Nov 11 while other markets will remain open. | |
Need to Know: J.P. Morgan puts pedal to the floor as it reduces gold recommendation while still pushing stocksLet’s get risky, says J.P. Morgan’s strategy team. | |
Market Snapshot: Stock futures bounce around as Wall Street weighs China-U.S. tariff rollback talkU.S. stocks are little changed Friday morning as enthusiasm for assets considered risky appear to be replaced by a more cautious posture on Wall Street, with market participants assessing conflicting narratives on progress in Sino-American trade talks and reports of infighting in the White House. |
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