Written by Gary
US stock indexes dipped slightly (SPY -0.2%) as investors moved to the sidelines without concrete signs of progress on US-China relations.
The Market in Perspective
| Here are the headlines moving the markets. | |
 | Wall Street ends slightly lower; investors stay to sidelinesU.S. stock indexes dipped slightly on Thursday as investors moved to the sidelines with mixed messages and no concrete signs of progress on U.S.-China relations. |
| Facebook agrees to provide additional documents in California AG data privacy probeFacebook Inc has agreed to turn over additional documents after the California state attorney general’s office went to court earlier this month to compel the social media firm to comply with requests for information in its privacy investigation. |
| GM’s electric pickup to hit dealer showrooms in fall 2021: CEOGeneral Motors Co’s first electric pickup truck model will go on sale in the fall of 2021, the company’s top executive said, around the same time that electric carmaker Tesla Inc’s own model is expected to debut. |
| U.S House Democrats see progress on USMCA, passage still possible this yearU.S. House Democrats said they ironed out some differences with the Trump administration on Thursday about a trade agreement with Canada and Mexico, and that Congress could still vote on the deal – one of President Donald Trump’s top priorities – this year. |
| Pelosi says progress was made on USMCA in meeting with LighthizerU.S. House Speaker Nancy Pelosi said on Thursday that progress was made on the U.S.-Mexico-Canada trade pact in a meeting she held with U.S. Trade Representative Robert Lighthizer and Richard Neal, the chairman of the House Ways and Means Committee. |
| Saudi Aramco order book reaches 73 billion riyals so far: SambaSaudi Aramco’s initial public offering (IPO) has attracted approximately 73 billion riyals ($19.47 billion) in institutional and retail orders so far, Saudi Arabia’s Samba Financial Group said on Thursday. |
| U.S. senators urge Trump administration to halt Huawei license approvalsA bipartisan group of 15 U.S. senators urged the Commerce Department to suspend issuing licenses to U.S. firms that conduct business with China’s Huawei Technologies Co, saying it could threaten U.S. security. |
| Exclusive: Unilever, Henkel and buyout funds eye bids for Coty’s $7 billion beauty brands – sourcesConsumer goods giants Unilever and Henkel and a series of buyout funds including Advent and Cinven are talking to U.S. cosmetics maker Coty to submit bids for some of its most popular beauty brands, three sources told Reuters. |
| Global stocks slip, dollar rebounds on rekindled trade hopesThe dollar rebounded and global equity markets pared losses on Thursday as efforts by China to smooth the path forward in U.S.-Sino trade talks helped sooth investor sentiment, though fears remained that a phase one deal might not occur until next year. |
| Bonds, Stocks, Bitcoin, & Bullion All Drop As Trade-Deal Hope TumblesBonds, Stocks, Bitcoin, & Bullion All Drop As Trade-Deal Hope Tumbles Up, down; buy, sell; impeach, don’t impeach; deal, no deal… it’s enough to make you go full Ari Amid an avalanche of misdirecting headlines and statements on the trade-deal… |
| Lindsay Graham Requests Full Transcripts Of Joe Biden’s Calls With Ukrainian PresidentLindsay Graham Requests Full Transcripts Of Joe Biden’s Calls With Ukrainian President Via SaraACarter.com, Senate Judiciary Committee Chairman Lindsey Graham, (R-SC) confirmed in an interview with Sean Hannity on Fox News that he is sending a letter to Secretary of State Mike Pompeo requesting the transcripts of three phone calls the senator said then-Vice President Joe Biden had with then-Ukrainian President Petro Poroshenko. |
| Amid Record Positioning, Something Just Snapped In The ‘Short-Vol-To-Zero’ TradeAmid Record Positioning, Something Just Snapped In The ‘Short-Vol-To-Zero’ Trade Since The Fed unleashed ‘NotQE’, stocks have soared higher – ignoring every piece of bad news and clinging to the narrative that better-than-feared Q3 earnings, cherry-picked upside-surprises in economic data, and optimism that the worst of trade tensions could be behind us are driving the next leg in the ‘secular’ bull market. At the same time, amid soaring uncertainty, volatility expectations across multiple asset-classes have utterly collapsed. FX, Equity, and Gold vols are crashing… |
| 15 US Senators Demand President Trump To Halt Huawei License Approvals15 US Senators Demand President Trump To Halt Huawei License Approvals Reuters is now reporting that more than a dozen US senators have demanded the Trump administration to halt the Commerce Department from issuing licenses to US firms that conduct business with Huawei. On Wednesday, the Trump administration allowed some suppliers to restart sales with the Chinese telecom after it was placed on a blacklist for national security threats over the summer. |
| An ex-RBI Guv thinks $5-tn goal is ‘simply out of question’An ex-RBI Guv thinks $5-tn goal is ‘simply out of question’The former RBI governor said India needs a 9 percent per annum growth to reaching $5 trillion by 2025. |
| Economy to stay at low ebb in Q2, says ICRAEconomy to stay at low ebb in Q2, says ICRAThe ICRA also forecast the country’s GVA at basic prices in year-on-year (YoY) basis to 4.5 per cent respectively. |
| Pai has a suggestion for ex-employer InfosysPai has a suggestion for ex-employer Infosys”You can’t make it a bland statement,”Mohandas Pai said, adding the specific concerns needs to be allayed. |
| Bond Report: Treasury yields rise most in two weeks on tentative trade optimismU.S. Treasury yields edged up Thursday, reversing some of this week’s decline, after a report said Beijing was pushing to advance talks on a partial trade deal with the U.S. |
| Key Words: Obama cautions at Salesforce convention that society’s at a ‘dangerous moment’ because of information techAt one of San Francisco’s biggest tech conferences, 44th President of the United States Barack Obama cited technology as a driver of his top three challenges facing the world today. |
| Jim Chanos on Tesla: ‘We are still bears’Legendary short seller Jim Chanos dispels rumors he has covered his Tesla shorts, saying that Tesla œis and remains one of our biggest and our best short positions. |
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