Written by Gary
SP 500 earnings swoon seen extending to fourth quarter (SPY +0.2%). Trump said the US and China were close to agreeing on the first phase of a trade deal.
The Market in Perspective
| Here are the headlines moving the markets. | |
 | Fed’s Brainard calls for ‘flexible’ average inflation targetThe Federal Reserve should move from a strict 2% inflation target to a broad, “flexible” promise that inflation would average that level over time, a key member of the U.S. central bank’s board of governors said on Tuesday in one of the most explicit endorsements yet of changes in its monetary policy framework. |
| Stocks, oil prices edge up on trade talk optimismOil prices and a gauge of global stock markets edged higher on Tuesday, lifted by fresh record highs on Wall Street after U.S. President Donald Trump said the United States and China were close to agreeing on the first phase of a trade deal. |
| S&P 500 earnings swoon seen extending to fourth quarterEarnings of companies in the benchmark S&P 500 index are expected to decline in the fourth quarter from the year-earlier period, which would mark a second straight quarterly profit drop, according to IBES data from Refinitiv. |
| Uber drives up prices for shared rides, Chicago data revealsHow much ride-hailing companies Uber and Lyft charge customers throughout a day is one of the most closely held secrets in Silicon Valley. |
| Activist investor seeks to oust Trump friend Barrack from CEO job at Colony CapitalActivist investor Blackwells is pushing to remove Tom Barrack, a billionaire friend of President Donald Trump, as CEO of Colony Capital, saying his mismanagement of the real estate and investment firm has cost shareholders billions of dollars in lost gains. |
| U.S. unveils procedure to shield telecom networks from national security threatsThe United States on Tuesday set out a procedure to protect its telecommunications networks and their supply chains from national security threats, saying it would consider whether to bar transactions on a case-by-case basis. |
| Musk to testify in own defense in defamation trial, his lawyer saysTesla Inc’s chief executive, Elon Musk, will testify in his own defense against a defamation lawsuit brought by a British cave explorer, Musk’s lawyer said on Monday in U.S. District Court in Los Angeles. |
| Black Friday darker for some retail stocks than othersThe U.S. holiday shopping period kicking off on Friday may heighten Wall Street’s perception of a growing divide between retailers adapting to online sales and those unable to shake their reliance on dwindling shopping mall traffic. |
| Oil gains, bolstered again by U.S.-China trade talksOil prices rose on Tuesday after news that U.S. and Chinese officials discussed trade, while predictions for a weekly draw on U.S. crude stockpiles lent some support as well. |
| Another “Deal Is Close” Headline Sends Stocks, Bonds, Dollar, Yuan, & Gold All HigherAnother “Deal Is Close” Headline Sends Stocks, Bonds, Dollar, Yuan, & Gold All Higher A high-level conversation… spun as progress… additional headlines from various administration officials all claiming a deal is close… and hey presto – more gains for stocks and more new record highs… Is it really that simple? YES!!! |
| Trump Wins Round One In Battle Over His Tax ReturnsTrump Wins Round One In Battle Over His Tax Returns Authored by Mike Shedlock via MishTalk, In a round one victory for Trump, the US Supreme Court suspended a House subpoena regarding Trump’s finances. |
| How Central Banks Changed The Nature Of Assets: Stocks Behave Like Bonds And Bonds Are The New StocksHow Central Banks Changed The Nature Of Assets: Stocks Behave Like Bonds And Bonds Are The New Stocks Over the weekend, when discussing the biggest “conundrum” in the markets, namely the all time high prints in the S&P coupled with record outflows from equities… |
| Recession Early Warning? Spending By The Wealthy Is SlowingRecession Early Warning? Spending By The Wealthy Is Slowing Via SchiffGold.com, America’s economy is built on consumption. Average Americans have been pushing the US economy along, spending money they don’t have. But as we’ve reported, there are signals that the credit cards might be close to maxed out. Now there appears to be another warning sign ” the wealthy are reining in their spending. |
| Why India needs faster economic growth before it gets too lateWhy India needs faster economic growth before it gets too lateIndia runs the risk of growing old before it grows rich, and has a 10-year window to grow really fast. |
| A UN climate change report has dire findingsA UN climate change report has dire findingsThe world’s 20 richest nations, responsible for bulk of emissions, should take urgent steps, says the report. |
| Chinese excel at Wall Street’s toughest testChinese excel at Wall Street’s toughest testVirginia-based CFA Institute has found rising applicants from Asia — and especially China. |
| Outside the Box: 4 reasons why this bull market in stocks will keep going in 2020It’s time to focus on œquality companies. |
| Key Words: John Schnatter eats 40 Papa John’s pizzas in 30 days, says it ‘doesn’t taste as good’ anymoreThe ex Papa John’s CEO says new ownership has ‘destroyed the company’ he founded, in a viral interview |
| Dick’s Sporting Goods’ decision to remove guns was big factor in earnings beat: CFRADick’s Sporting Goods Inc. reported earnings and sales that beat expectations on Tuesday, which CFRA’s Camilla Yanushevsky attributes, in part, to the retailer’s pullback on gun sales. |
Summary of Economic Releases this Week
Earnings Summary for Today
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