Written by Gary
Stocks began December with their second selloff in two sessions as worries grew about U.S. trade fights with just about the entire world and new reports showing weakening manufacturing and construction data. Brent crude was unchanged but WTI rose to the 56 handle. Nat Gas also rose in the U.S. Gold, silver and copper all ended up from their lows but down for the day, Gold closed below $1,470.
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The Market in Perspective
| Here are the headlines moving the markets. | |
 | Zuckerberg denies that Trump tried to lobby against ban on political ads: CBSFacebook Inc Chief Executive Officer Mark Zuckerberg said in an interview to CBS on Monday that U.S. President Donald Trump did not discourage him from banning political ads on the social media platform during a secret meeting in October. |
| U.S. stocks retreat on economy and trade jittersWall Street stepped back from last week’s record highs on Monday, with disappointing U.S. manufacturing data and fresh trade worries keeping buyers on the sidelines. |
| Large investor lays out $31 million options hedge against U.S. stock market dropMonday’s slide in U.S. stocks prompted at least one large investors to load up big on stock options that would guard against a sharper hit to stocks into the start of next year. |
| U.S. may increase tariffs after WTO rejects EU claims over AirbusThe World Trade Organization on Monday rejected European Union claims that it no longer provides subsidies to planemaker Airbus , prompting the United States to say it could increase retaliatory tariffs on a wider range of European goods. |
| Cosmetics maker Natura urges Brazil to protect Amazon after fires hit suppliersBrazilian cosmetics maker Natura & Co is pressing government officials, the private sector and local communities to bolster environmental protections in the Amazon after fires this year disrupted its supply chain, its chief executive told Reuters. |
| Cyber Monday sales poised to top $9.4 billionCyber Monday sales were on course to bring in a record $9.4 billion, according to early estimates, building on a bumper Black Friday weekend for retailers driven by earlier-than-usual promotions and free shipping. |
| Apple fails to end MacBook ‘butterfly’ keyboard class actionA federal judge on Monday rejected Apple Inc’s bid to dismiss a proposed class action lawsuit by customers who said it knew and concealed how the “butterfly” keyboards on its MacBook laptop computers were prone to failure. |
| Dollar, stocks slide on Trump tweets, dour PMI dataThe dollar and global stock markets fell on Monday after U.S. President Donald Trump said he would restore tariffs on some imports from Brazil and Argentina, while a drop in new U.S. factory orders in November to their lowest since 2012 deepened the decline. |
| Oil futures edge up on talk of further OPEC+ supply curbsOil futures gained about 1% on Monday on hints the Organization of the Petroleum Exporting Countries (OPEC) and its allies may agree to deepen output cuts at a meeting this week and as rising manufacturing activity in China suggested stronger demand. |
| Could America Survive A Truth Commission?Could America Survive A Truth Commission? Authored by Charles Hugh Smith via OfTwoMinds blog, A nation that’s no longer capable of naming names and reporting what actually happened richly deserves an economic and political collapse to match its moral collapse. |
| Stocks, Bonds, & The Dollar Dumped On Dismal-Data & Trade-TensionsStocks, Bonds, & The Dollar Dumped On Dismal-Data & Trade-Tensions A quadruple-whammy of not-awesome trade-related comments today spoiled the party… 0602ET *TRUMP TO RESTORE TARIFF ON STEEL SHIPPED FROM BRAZIL, ARGENTINA 1035ET *TRUMP WILL INCREASE TARIFFS IF NO CHINA DEAL, ROSS TELLS FOX 1200ET *TRUMP AIDE SAYS IT’S UP TO CHINA IF DEAL WILL BE MADE THIS YR 1230ET *CHINA TO RELEASE ‘UNRELIABLE ENTITY LIST’: GLOBAL TIMES And then US Macro data poured cold water on China and EU economic hope as construction spending plunged and manufacturing ISM disappointed significantly. |
| Every Single Asset Tracked By Deutsche Bank Is Up For The YearEvery Single Asset Tracked By Deutsche Bank Is Up For The Year What a difference a year makes. It was last December, which incidentally was the worst December for US equities since the Great Depression, that we showed a remarkable chart: an astounding 93% of all assets tracked by Deutsche Bank were down for the year – worse than even the years of the Great Depression. |
| Do The Democrats Have A Death Wish?Do The Democrats Have A Death Wish? Authored by James Howard Kunstler via Kunstler.com, The early winter holidays are notorious for giving people the blues, but as the last Thanksgiving leftovers slide into the stockpot, the Democratic Party was put on suicide watch. Is the ghost of Jeffrey Epstein in charge? It’s a little late to call an exorcist. |
| Just how bad will the telco tariff pinch be? Here’s a lowdownJust how bad will the telco tariff pinch be? Here’s a lowdownEven with a tariff hike of 40%, Jio would be cheaper by 15-20% than its rivals, analysts firms say. |
| IndiGo wants its pilots to go easy on planesIndiGo wants its pilots to go easy on planesIndiGo has told its pilots to stop pushing engines on its new jets to the limit when the planes are climbing. |
| Fight to take over Jaypee gets more intenseFight to take over Jaypee gets more intenseSuraksha Realty may offer more cash and land to lenders and higher penalty to homebuyers to acquire Jaypee. |
| Median Household Income Little Changed In October 2019from Sentier Research New data from the monthly Current Population Survey (CPS), indicate that the median annual household income in October 2019 was $66,465, not statistically different than September 2019 ($66,445).
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| October 2019 Construction Spending Year-over-Year Growth Continues To Trend UpwardWritten by Steven Hansen The headlines say construction slowed month-over-month. Our analysis shows the rolling averages improved.
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| Economic Report: U.S. manufacturing sector slumps further in November: ISMThe ISM’s manufacturing index fell to 48.1% in November from 48.3% in October, according to the latest report released Monday. |
| The Tell: Don’t get so excited, this economist says ” the trade news isn’t that goodInvestors may be œover-interpreting some mildly positive developments on trade, this economist says, and he doesn’t see much upside for growth from here. |
| The Margin: Peloton’s viral ad captures a ‘116 lb woman’s YEARLONG fitness journey to becoming a 112 lb woman’It’s the classic feel-good Christmas tale: A husband wants his wife to work out more, so he gives her some exercise equipment she clearly doesn’t need. Wife is thrilled but also scared. She captures her journey on social media for a year, then the happy couple celebrate the following Christmas by reviewing her progress. |
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