Written by Gary
S&P wobbles on fresh trade uncertainty. but Disney lifts DOW (SPY +0.03 flat). Investors have uncertainty over U.S.-China trade relations.
The Market in Perspective
| Here are the headlines moving the markets. | |
 | Facebook removes 3.2 billion fake accounts, millions of child abuse postsFacebook Inc removed 3.2 billion fake accounts between April and September this year, along with millions of posts depicting child abuse and suicide, according to its latest content moderation report released on Wednesday. |
| J&J blockbuster loses ground to biosimilars despite Quebec court rulingJohnson & Johnson’s Remicade, a blockbuster drug that treats autoimmune disorders, has steadily lost market share among patients enrolled in the Canadian province of Quebec’s public drug program, even after a court ruling reinstated full coverage in January, a Reuters analysis of government data shows. |
| Black student loan borrowers are defaulting at nearly twice the rate of whites: NY FedStudent loan borrowers from mostly black neighborhoods are almost twice as likely to default on their debt as borrowers from neighborhoods that are mostly white, according to research released Wednesday by the Federal Reserve Bank of New York. |
| MetLife sued for gender discrimination by ex-chief administrative officerMetLife Inc was sued for gender discrimination on Wednesday by a female former senior vice president who said she was underpaid, called a “bitch” and told she had to “choose between being pretty and being smart” while working at the insurance company. |
| Shares, bond yields slip on sour trade deal sentimentGlobal equity markets and government bond yields fell on Wednesday as sentiment soured that a U.S.-China trade deal can be reached soon and on fears intensifying unrest in Hong Kong may lead to a Chinese crackdown. |
| Google Pay to offer checking accounts through Citi, Stanford Federal next yearAlphabet Inc’s Google said on Wednesday it will offer personal checking accounts next year through its Google Pay app in partnership with Citigroup Inc and a small credit union at Stanford University. |
| S&P wobbles on fresh trade uncertainty; Disney lifts DowThe S&P 500 and Nasdaq stock indexes slipped on Wednesday on fresh uncertainty over U.S.-China trade relations, while a jump in Walt Disney shares boosted the Dow. |
| Trade talks between U.S. and China ‘hit a snag’ over farm purchases: WSJU.S.-China trade negotiations have ‘hit a snag’ over farm purchases, with China not wanting a deal that looks one-sided in the favor of the United States, the Wall Street Journal reported https://on.wsj.com/2CEYDR7 on Wednesday, citing people familiar with the matter. |
| United Auto Workers union unveils ethics reforms after U.S. corruption probeThe United Auto Workers (UAW) on Wednesday announced a series of ethics reforms in answer to a spreading U.S. federal corruption probe that has resulted in charges or convictions for a number of former leaders of the union. |
| Stocks Shrug Off China Trade Talks Tumult, Decouple From BondsStocks Shrug Off China Trade Talks Tumult, Decouple From Bonds Overheard today in Washington and the markets… From the moment the cash markets opened, US equity markets shot higher on a series of pumps, decoupling completely from the bond market… |
| President Trump’s Key Manufacturing Industry Group Attacked By Chinese HackersPresident Trump’s Key Manufacturing Industry Group Attacked By Chinese Hackers A new report from Reuters says Chinese hackers attacked the National Association of Manufacturers (NAM) over the summer as the trade war between Washington and Beijing intensified. Sources say NAM hired a cybersecurity firm to minimize the breach and prevent further intrusion from Chinese hackers. |
| Boomers Prefer To Die At Home: Enormous Glut Of Senior HousingBoomers Prefer To Die At Home: Enormous Glut Of Senior Housing Authored by Mike Shedlock via MishTalk, Developers keep building housing for seniors. The problem is, seniors don’t want it. |
| October Budget Deficit Surges 34% To $134 Billion, Worst In Five YearsOctober Budget Deficit Surges 34% To $134 Billion, Worst In Five Years One month after the Treasury reported that in fiscal 2019 the US budget deficit hit $984 billion, a 26% increase from a year earlier, and the largest annual deficit since 2012’s $1.1 trillion, today the US Treasury released the latest monthly deficit data which revealed that in October, the first month of Fiscal 2020, the US deficit shortfall hit $134 billion, a $34 billion, or 34%, increase to the $100 billion deficit in October 2018, bigger than the average forecast of $130 billion. |
| Voda boss says Indian JV remark distorted, apologises to govtVoda boss says Indian JV remark distorted, apologises to govtThe letter was written after govt officials expressed displeasure over the tone and tenor of Read’s comment. |
| Changing address on Aadhaar just got easierChanging address on Aadhaar just got easierThe changes were made by amending the Prevention of Money-laundering Rules, as per a gazette notification. |
| CJI designate on Ayodhya verdict & moreCJI designate on Ayodhya verdict & moreIn an interview with ET, Bobde says the key message from the Ayodhya verdict is that the dispute is now over. |
| Disney stock surges to record high on the ‘eye-popping’ subscription number for Disney+Walt Disney Co. stock rallies more than 7% on Wednesday and notches its biggest one-day gain in nearly seven months after news its newly launched Disney+ had attracted millions of subscribers in one day. |
| Key Words: Democrat Peter Welch invites Trump to join impeachment hearings as president slams ‘hoax’President Donald Trump on Wednesday got an invitation to testify in the House’s impeachment proceedings, as a Democrat pushed back at a Republican who called for a whistleblower to appear. |
| Google plans to offer checking accounts ” why so many tech companies want to be your bankGoogle has joined a long list of companies expanding to offer traditional banking services. |
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