Written by Gary
Rising oil prices boosted energy stocks, and revived hopes that a phase one trade deal will finally be struck between the U.S. and China lifted the rest of the stock market on Wednesday. The S&P 500 rose 0.63%, with the DJIA up about 0.54%. The Nasdaq Composite and the Nasdaq 100 indices were up 0.54% and 0.51%. WTI crude soared 4% to close at $58.34. Safe havens declined: Gold -0.3% and 10-year treasury -0.4% (yield up 4% to 1.78).
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The Market in Perspective
Here are the headlines moving the markets. | |
Stocks rally on renewed trade talk optimism, yields riseGovernment debt yields and a gauge of global equity markets rose on Wednesday as sentiment improved after U.S. President Donald Trump said trade talks with China were going “very well” and a news report suggested key differences were being ironed out. | |
Wall Street bounces back on renewed trade optimismWall Street rebounded on Wednesday as investor optimism got a boost from U.S. President Donald Trump’s remarks that talks with China on an interim trade deal were going “very well.” | |
Exclusive: As Citgo profit rises, pressure to restore dividend grows – sourcesCitgo Petroleum Corp’s directors are unlikely to bow to pressure this week to resume dividend payments, two sources close to the discussions said, as the refiner cannot yet help Venezuela’s interim government ease creditors’ claims against its parent PDVSA that also are threatening its assets. | |
Elon Musk, at defamation trial, says he wrote ‘pedo guy’ tweet ‘off the cuff’Elon Musk, wrapping up two days of testimony at his defamation trial on Wednesday, insisted his “pedo guy” Twitter message at the heart of the case was an “off-the-cuff” insult hurriedly written in anger and not meant to be taken literally. | |
Walmart favors ‘reasonable controls’ over collection and use of personal dataWalmart Inc for the first time on Wednesday revealed the breadth of customer information it collects as it came out in favor of consumers having “reasonable controls” with regard to collection, use and sharing of personal data. | |
Warren calls for Larry Page testimony, despite change of guard at AlphabetUnited States Senator Elizabeth Warren said on Wednesday that she still expects Larry Page to testify in Congress, a day after he stepped down as chief executive of Alphabet Inc , Google’s parent company. | |
PG&E nearing $13.5 billion deal with wildfire victims – BloombergBankrupt California power producer PG&E Corp is close to finalizing terms for a $13.5 billion payout to victims of wildfires ignited by its power lines, Bloomberg reported on Wednesday, citing people familiar with the matter. | |
Under Pichai, Alphabet’s moonshot projects may face more scrutinyAlphabet’s leadership change has some investors hoping that the owner of Google will take a hard look at the cash-burning ventures championed by its founders. | |
Uber may offer courier services for retail business – CEO KhosrowshahiUber Technologies Inc Chief Executive Officer Dara Khosrowshahi said on Wednesday the ride hailing company could extend its food delivery service to offer courier services for other retail businesses. | |
Steve Cohen To Buy 80% Stake In The New York MetsSteve Cohen To Buy 80% Stake In The New York Mets Yet another corpulent billionaires is about to spend billions to own a franchise sports club, just so he can avoid spending billions in taxes. According to FOX Sports reporter Ken Rosenthal, Fred Wilpon’s Sterling Partners, the owners of the New York Mets, is in talks to sell up to 80% of the MLB team to billionaire Steve Cohen, who is already an investor in the club.
The transaction, which was confirmed by the club, would value the team at $2.6 billion, according to Bloomberg. According to the proposed deal, real estate developer and billionaire, Fred Wilpon, the team’s current owner, will remain in his role for at least five years, at which time Cohen will have a path to controlling the franchise. Jeff Wilpon, his son, will remain as the team’s chief operating officer for the five-year period. Meanwhile Cohen, whose net worth is $9.2 billion, according to the Bloomberg Billionaires Index, will remain as chief execut … | |
Trump’s Trade Talk Tanks Stocks… Until Unsourced Rumor Sparks Buying-PanicTrump’s Trade Talk Tanks Stocks… Until Unsourced Rumor Sparks Buying-Panic Trump’s actual words on tape prompted a notable plunge in stocks yesterday and his thoghts were confirmed by Wilbur Ross and Larry Kudlow. However, in this new normal of muppetry, today saw an unsourced rumor from Bloomberg saying that a deal is close (yeah, seriously), spark a short-squeeze-ignited ramp to erase all those losses… | |
Why Do Dems Ignore Zelensky Evidence?Why Do Dems Ignore Zelensky Evidence? Authored by Sarah Cowgill via LibertyNation.com, Ukrainian President Volodymyr Zelensky is the latest in a long line of people including politicians, lawyers, and Republicans to deny his conversation with Donald Trump was a œquid pro quo moment. At the epicenter of the impeachment investigation, the phone call between the two world leaders is the linchpin for the Democrats’ case. But despite holding hearings to ascertain Trump’s guilt or innocence, or unearth a scintilla of hard evidence of wrongdoing, the Dems continue to ignore the other major participant in the phone call. | |
US Officials Tout ‘Fresh Intelligence’ Of Imminent Iran Attack ‘Threat’ Against TroopsUS Officials Tout ‘Fresh Intelligence’ Of Imminent Iran Attack ‘Threat’ Against Troops US defense officials are claiming fresh intelligence pointing to the looming threat of a possible attack by Iran on US forces and interests in the Middle East. “There has been consistent intelligence in the last several weeks,” an administration official was anonymously cited as saying by CNN. A separate official said the information gathered by military and intelligence agencies was collected through November. As is typical when vague claims of a new ‘Iran threat’ is on the horizon there’s absolutely nothing in terms of specifics or evidence, just anonymous officials and fear inducing headlines (also via the same intel bureaucrats which gave us the Iraq war). | |
Why rise in ease of doing biz ranking is not enough for IndiaWhy rise in ease of doing biz ranking is not enough for IndiaSanctity of contracts is important. A new govt annulling a contract impacts the country’s image badly. | |
Another Motown biggie is getting slump chillsAnother Motown biggie is getting slump chillsSeveral automobile firms including Maruti and Hero had announced non-working days in the past. | |
Scam-hit IL&FS’ book tells a sorry taleScam-hit IL&FS’ book tells a sorry taleThis is the first earnings announcement after the govt sacked its board in October last year. | |
LIVE ALL WEEK: Weather 2 December Through 8 December 2019Written by Sig Silber This article provides continuous updates for a variety of Weather and Weather-Related Threats as well as a general weather forecast. These are “Live” maps and continually update. Please pay attention to the Mesoscale Events maps — Mesoscale Events are potentially life-threatening situations. We have now added a Ski Report. | |
Growth Outlook For 2020Written by Jim Welsh Macro Tides Monthly Report 01 December 2019 Will Economic Growth Meet Expectations in 2020? After the yield curve inverted in May and the ISM Manufacturing Index fell below 50 fears of a recession beginning in 2020 were rampant. | |
In One Chart: Trader pockets windfall after betting $49 million against the S&P 500 right before Monday’s steep dropIt may have started out like a year-end hedge, as Trade Alert’s Henry Schwartz described it, but a day later and it’s already delivered a tidy profit. | |
Ad agency founded by Britain’s ‘Mad Men’ issues profit warning, sending shares plunging 46%M&C Saatchi stock plunged on Wednesday after the world’s largest independent ad agency issued a profit warning and revealed its accounting scandal would have a greater impact. | |
The New York Post: New York Mets owners in negotiations to sell team to hedge-fund billionaire Steve CohenThe sale would value the New York Mets at $2.6 billion and was first reported by Bloomberg News. |
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