Written by Gary
Apple, healthcare weigh on Wall Street as trade deadline looms (SPY -0.3%). Global stocks, gold rolled over as trade war spurs concerns.
The Market in Perspective
| Here are the headlines moving the markets. | |
 | Apple, healthcare weigh on Wall Street as trade deadline loomsU.S. stocks pulled back on Monday from near-record levels, as shares of Apple Inc and healthcare companies fell and investors braced for a busy week of political and economic news, including a potential turning point in the U.S.-China trade dispute. |
| Amazon lawsuit blames Trump for loss of Pentagon cloud contractAmazon.com Inc on Monday accused U.S. President Donald Trump of exerting “improper pressure” and bias that led the Department of Defense to award a lucrative $10 billion cloud contract to rival Microsoft Corp. |
| Volkswagen charged with violating vehicle emission standards in CanadaGerman automaker Volkswagen AG on Monday was charged with importing nearly 128,000 vehicles into Canada contravening the country’s environmental legislation, a Canadian government agency said. |
| Mexico asks Pelosi to act on trade deal, business groups waryMexican President Andres Manuel Lopez Obrador on Monday urged U.S. House Speaker Nancy Pelosi to decide on ratification of a North American trade pact, even as Mexican business groups fretted that proposed changes were weakening the deal. |
| Global stocks, gold little changed as trade war spurs concernsGlobal equity markets traded flat on Monday as investors hoped officials would delay more U.S. tariffs set to take effect on Chinese goods this coming Sunday, while gold held firm as investors hedged against a possible escalation in the trade war. |
| Nokia halts legal action against Daimler with mediation offer in patent rowFinnish telecoms equipment maker Nokia has suspended legal action against German carmaker Daimler in the hope that mediation will resolve their dispute over technology licensing fees. |
| Testimony begins in U.S. states’ lawsuit to block T-Mobile/Sprint dealWitness testimony began Monday over an effort by U.S. state attorneys general to stop T-Mobile US Inc from buying Sprint Corp, in a case that highlights disagreements between federal antitrust enforcers, who are Republican, and Democrats in powerful states. |
| Morgan Stanley cutting jobs due to uncertain global environment -sourceMorgan Stanley is cutting about 2% of its workforce globally due to an uncertain global economic outlook, according to a source familiar with the matter. |
| France’s Sanofi to buy biotech firm Synthorx for $2.5 billionFrance’s Sanofi on Monday agreed to buy California-headquartered biotechnology firm Synthorx in a cash deal worth about $2.5 billion as it steps up a push in the lucrative field of cancer drugs under its new chief executive. |
| Stocks Slide As Bond Yields, Dollar Erase Friday Jobs SpikeStocks Slide As Bond Yields, Dollar Erase Friday Jobs Spike It appears Friday’s “goldilocks” jobs data has not cheered the bond and FX traders as much as the equity algos after all… |
| Illinois Exodus Alert: Why Chicago Skyscrapers & Your Home Are Worth LessIllinois Exodus Alert: Why Chicago Skyscrapers & Your Home Are Worth Less Via The Chicago Tribune Editorial Board, Chicago, bustling city of big business and gleaming skyscrapers, looks vibrant. Yet there’s a sense of foreboding in big-money circles – a legitimate concern that Illinois’ fiscal rot is scaring away jobs and investment. |
| Joe Biden’s ‘Temper Was Overflowing’ After Ukrainian Prosecutor Seized Burisma Assets: ReportJoe Biden’s ‘Temper Was Overflowing’ After Ukrainian Prosecutor Seized Burisma Assets: Report The Ukrainian prosecutor Joe Biden got fired by threatening to withhold vital US financial aid says that the former Vice President was outraged after Ukrainian authorities seized the assets of Burisma – a natural gas firm owned by a notoriously corrupt oligarch who hired Hunter Biden to sit on its board. |
| Profit “Inequality”: Is It Possible That S&P 500 Companies Make Money And No One Else Does?Profit “Inequality”: Is It Possible That S&P 500 Companies Make Money And No One Else Does? Submitted by Joseph Carson, Former Director of Global Economic Research, Alliance Bernstein Inequality has been used to describe the widening gap between household income and wealth. Yet, is it also appropriate to use œinequality as a way to describe the growing and unexplained gap between the earnings of S&P 500 companies and everyone else? Appropriate or not there is something unusual at work with the profit data, as it appears the only firms making any money nowadays are those in the S&P 500. According to the Bureau of Economic Analysis (BEA), in Q3 2019 the annualized after-tax operating profits of all US companies, large and small, public and private, totaled $1.881 trillion. That represented an increase of approximately $220 billion from the level of after-tax operating profits recorded in 2015. |
| Is GDP best measure of growth? Here’s how to make it betterIs GDP best measure of growth? Here’s how to make it betterFor India, there are three key steps we may explore. First, to measure the destruction of natural and social capital. |
| Govt’s fiscal worry may not end anytime soonGovt’s fiscal worry may not end anytime soonCGST collection during Apr-Nov stood at Rs 3.28 lakh crore against budgeted estimate of Rs 5.26 crore. |
| Paul Volcker: The first monetary rockstarPaul Volcker: The first monetary rockstarVolcker left 2 major legacies: one that benefits Fed chiefs & another that central bankers have sought to dismantle. |
| Biotech stocks are producing outsized gains ” here’s how to get your shareAn evergreen strategy is to buy stocks of companies that are likely to be bought out at attractive premiums. |
| Trump Today: Trump says USMCA ‘looking good’ as he slams Russia-probe reportPresident Donald Trump said Monday the U.S.-Mexico-Canada trade deal is œlooking good, as he blasted a Justice Department report finding a legal basis for the FBI probe into his 2016 campaign. |
| Amazon blames Trump’s ‘improper pressure’ for losing $10 billion Pentagon contractThe Joint Enterprise Defense Infrastructure plan was the $10 billion military computing project that was eventually awarded to Microsoft. |
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