Written by Gary
US stock index futures slipped fractionally this morning (SPY -0.1%), as weak Chinese economic data and a dour forecast from Cisco rekindled fears of a global slowdown.
Here is the current market situation from CNN Money | |
European markets are lower today with shares in Germany off the most. The DAX is down 0.39% while London’s FTSE 100 is off 0.38% and France’s CAC 40 is lower by 0.07%. |
What Is Moving the Markets
Here are the headlines moving the markets. | |
Burberry aims to woo more customers in China with Tencent tie-upBritish luxury brand Burberry on Thursday said it has joined forces with China’s Tencent for a new digital marketing and sales push to tap the nation’s increasingly social media savvy shoppers in a critical luxury market. | |
Oil rises on U.S. crude stocks fall, OPEC comments on U.S. shale growthOil rose on Thursday after industry data showed a surprise drop in U.S. crude inventories, while comments from OPEC about lower-than-expected U.S. shale production in 2020 also provided some support. | |
Walmart raises earnings forecast, expects strong holiday salesWalmart Inc reported better-than-expected third quarter U.S. comparable sales on Thursday as people spent more at its stores and website and the retailer picked up market share in food and other groceries. | |
Futures slip as weak Chinese data sparks growth fears; Cisco fallsU.S. stock index futures slipped slightly on Thursday, a day after the S&P 500 and the Dow closed at record highs, as weak Chinese economic data and a dour forecast from Cisco rekindled fears of a global slowdown. | |
How SoftBank is putting its stamp on LatAm’s venture capital sceneSoftBank, whose $5 billion Latin America fund has showered regional startups with cash, is also courting local venture capital funds, an unusual move for the Japanese investor that has jolted the region’s tech scene. | |
Ford to use Mustang name for electric SUVFord Motor Co will use the Mustang name, previously reserved for a muscle car, for an electric sport utility vehicle (SUV) that customers in the United States, Canada and Europe can start ordering on Nov. 17, the company said on Thursday. | |
World stocks sink as China slowdown deepens, German economy weakWorld stocks nudged down on Thursday as Chinese economic data slowed in October and Germany only narrowly avoided a recession in the third quarter, adding to worries about the global growth fallout from the U.S.-China trade war. | |
Alibaba’s Hong Kong listing offers valuable Beijing goodwillAlibaba’s Hong Kong listing will not only land it $13.4 billion, it will also garner goodwill from Beijing to help the Chinese e-commerce giant weather the fallout of a damaging trade war. | |
WPP says acquisitions back on agenda after Kantar saleAdvertising group WPP will consider making acquisitions to bolster its capabilities in faster growing segments such as technology and commerce after selling a majority stake in its research arm Kantar, Chief Executive Mark Read said on Thursday. | |
Despite Rebound, Producer Price Inflation Weakest In 3 YearsDespite Rebound, Producer Price Inflation Weakest In 3 Years Following yesterday’s mixed picture for consumer prices, producer prices are expected to rebound from September’s shocking plunge and it did, beating expectations of a 0.3% MoM jump (but year-over-year growth in PPI slipped to +1.1% – the lowest since September 2016). | |
Consumers Are Keeping The US Out Of Recession? Don’t Count On It.Consumers Are Keeping The US Out Of Recession? Don’t Count On It. Authored by Lance Roberts via RealInvestmentAdvice.com, Just recently, Jeffry Bartash published an interesting article for MarketWatch.
That statement is correct, and considering the consumer makes up roughly 70% of economic growth, this is why you œnever count the consumer out.  The most valuable thing about the consumer is they are œfinancially stupid.  But what would expect from a generation whose personal motto is œYOLO ” You Only Live Once.  This is why companies spend billions on social media, personal influencers, television, radio, and internet advertising. If there is an outlet where someone will watch, listen, or read, you will find ads on it. Why? Because consumers have been psychologically bred to œshop till they drop.  | |
Walmart Shares Jump After Q3 EPS Beats, Company Boosts Full-Year OutlookWalmart Shares Jump After Q3 EPS Beats, Company Boosts Full-Year Outlook Walmart jumped pre-market after the company reported Q3 EPS that beat expectations and boosted its year end earnings outlook. The largest US retailer reported Q3 adjusted EPS $1.16, stronger than the estimate of $1.09 and 8 cents higher than a year ago on revenue of $127.99 billion, slightly below the consensus est. of $128.67 billion which was a $3.1 billion or 2.5% increase from a year earlier. | |
Stocks Struggle Amid Barrage Of Dismal Econ Data, HK Violence As Germany Narrowly Avoids RecessionStocks Struggle Amid Barrage Of Dismal Econ Data, HK Violence As Germany Narrowly Avoids Recession Global stocks and US equity futures eased further on Thursday as the latest dismal Chinese data missed across the board and showed further economic slowdown, with investment growth printing weakest since 1998… | |
AGR shows up in Airtel’s Q2 books, co posts Rs 23k cr lossAGR shows up in Airtel’s Q2 books, co posts Rs 23k cr lossRevenue of the telecom firm increased by 4.79 per cent to Rs 21,199 crore in Q2FY20. | |
Govt plans to cut stake in IOC to below 51%Govt plans to cut stake in IOC to below 51%Indian Oil is the third oil company in which government is thinking of cutting its stakes. | |
What Rafale verdict means for IndiaWhat Rafale verdict means for IndiaThe court struck down pleas that had sought re-examination of the December 14, saying it lacked merit. | |
Rail Week Ending 09 November 2019 Intuitive Sectors Marginally ImproveWritten by Steven Hansen Week 45 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 – but improved. | |
Economic Report: U.S. wholesale prices get gasoline bump in October, PPI shows, but inflation still tameThe wholesale cost of U.S. goods and services posted the sharpest increase in October in six months, but aside from higher gas prices, there was little inflation to be found. The producer price index rose 0.4% last month. | |
Middle-income Americans are increasingly ‘financially vulnerable,’ despite a strong economy and low unemploymentHouseholds making less than $30,000 a year were the sole income group to see an increase in financial health scores. | |
Economic Report: U.S. jobless claims jump to nearly 5-month high of 225,000The number of people who applied for jobless benefits last week shot up to a nearly five-month high, but the surprising spike likely stemmed from season quirks just ahead of the holiday season instead of a pronounced increase in layoffs. Initial jobless claims rose by 14,000 to 225,000. |
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