Written by Gary
DOW rallies more than 160 points to a record high (SPY +0.8%) as a phase one trade deal between China and the U.S. clears the path higher for Wall Street to end 2019.
Here is the current market situation from CNN Money | |
 | North and South American markets are higher today with shares in U.S. leading the region. The S&P 500 is up 0.88% while Brazil’s Bovespa is up 0.43% and Mexico’s IPC is up 0.21%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| Oil rises back toward three-month highs on U.S.-China trade dealOil prices rose slightly Monday on hopes energy demand will benefit from the trade deal between the United States and China announced last week, but prices remained below the previous session’s three-month highs. |
| Cineworld tops North American box office with Cineplex dealCineworld will buy Canada’s Cineplex for $1.65 billion in cash, making the British firm the biggest cinema operator in North America as it looks to tackle increasing competition from online streaming services. |
| Exclusive: Prosieben’s NuCom eyes acquisition of Meet Group – sourcesGerman broadcaster ProSiebenSat.1 Media SE’s e-commerce arm NuCom Group is exploring the acquisition of U.S. livestreaming app developer Meet Group Inc , people familiar with the matter said on Monday. |
| Kudlow: U.S.-China deal ‘absolutely’ done, U.S. exports to China will doubleThe so-called Phase One trade deal between Washington and Beijing has been “absolutely completed,” a top White House adviser said on Monday, adding that U.S. exports to China will double under the agreement. |
| Factbox: What is actually in the U.S.-China ‘Phase One’ trade deal?The United States and China have agreed on the terms of a “Phase One” trade deal that reduces some U.S. tariffs on Chinese goods and is said to boost Chinese purchases of American farm, energy and manufactured goods while addressing some disputes over intellectual property. |
| WPX Energy expands in Delaware basin with $2.5 billion Felix dealWPX Energy Inc said on Monday it would buy privately held Felix Energy in a $2.5 billion deal, as the Permian basin operator looks to add oil-rich acreage in the Delaware region of the prolific shale field, sending its shares up more than 9%. |
| Wall St. touches fresh highs on China data, trade deal boostWall Street hit record highs for the third straight session on Monday, as upbeat domestic data from China and cooling trade tensions between Washington and Beijing improved investor outlook on global economic growth. |
| Bayer asks U.S. appeals court to reverse $25 million Roundup verdictBayer AG on Monday said it has asked a U.S. federal appeals court to throw out a $25 million judgment it was ordered to pay to a California man who blamed the company’s Roundup weed killer for his cancer. |
| Boeing suppliers bracing for temporary halt in 737 MAX outputBoeing Co suppliers, customers and financiers braced on Monday for a possible freeze in Boeing 737 production for the first time in more than 20 years as the grounding of the best-selling MAX looks set to last well into the New Year. |
| Emissions Soar As Permian Flaring Frenzy Breaks New RecordsEmissions Soar As Permian Flaring Frenzy Breaks New Records Authored by Nick Cunningham via OilPrice.com, The flaring and venting of natural gas in the U.S. continues to soar, reaching new record highs in recent months. The volume of gas that was burned or simply released into the atmosphere by oil and gas drillers reached 1.28 billion cubic feet per day (Bcf/d) in 2018, according to the EIA, up from 0.772 Bcf/d in 2017. |
| Harvey Weinstein Insists He Was Great Friend To Women In HollywoodHarvey Weinstein Insists He Was Great Friend To Women In Hollywood In his first comments to the press in more than a year, and first sit-down interview since settling civil cases filed against him and his bankrupt film studio by more than 30 women, disgraced media mogul, former Democratic fundraiser and living embodiment of misogyny Harvey Weinstein admitted a reporter from the New York Post to his hospital room for a lengthy interview consisting – from what we can tell – of mostly softball questions seemingly angled to help rehabilitate Weinstein’s image, according to Page Six. |
| Christmas Impeachment Stocking: There’s Nothing In ItChristmas Impeachment Stocking: There’s Nothing In It Authored by Mike Shedlock via MishTalk, The Democrats have made the weakest case for impeachment since Andrew Johnson in 1868. |
| China TV Pulls Arsenal Match After Superstar Mesut Ozil’s Comments About Mistreatment Of UighursChina TV Pulls Arsenal Match After Superstar Mesut Ozil’s Comments About Mistreatment Of Uighurs English football club Arsenal is feeling the same heat from China that spurred a major controversy for the NBA just months ago, after a well known Arsenal player made comments critical of the nation. Arsenal player Mesut Ozil recently made comments critical of the treatment of the Uighur minority in China on social media, according to Bloomberg. On Twitter and Instagram, Ozil accused Muslims of staying quiet over the mistreatment of the Uighurs, making himself one of the most public figures to condemn China for their actions.Â
The club immediately tried to distance itself from Ozil’s comments with a post on Chinese platform Weibo, saying:
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| Auto Inc on why road to $5-tn goal passes through MotownAuto Inc on why road to $5-tn goal passes through MotownIndustry captains said the auto sector needs double-digit growth if the government wants to attain $5 tn goal. |
| Govt taking steps to spur consumption: FMGovt taking steps to spur consumption: FMThe FM said the government has expedited payments to those who have rendered services especially the MSMEs. |
| Niti begins work to fix data quality issuesNiti begins work to fix data quality issuesThe move comes close on the heels of a controversy over the consumption survey that was junked by the govt. |
| Market Extra: Why Wall Street sees the stock-market on the verge of a ‘melt-up’Analysts at Bank of America Merrill Lynch, led by strategists Michael Hartnett, describe the market as œprimed for Q1 2020 risk asset melt-up. Here’s why. |
| Capitol Report: Here are the Democrats running for president, as half of the field prepares for Thursday’s debateSeven Democratic presidential hopefuls are poised to debate Thursday in Los Angeles. The party’s overall 2020 field remains large, with 15 contenders even after three exits earlier this month. |
| TaxWatch: Starting a new job in 2020? Read this before you fill out the new W4 formFilling out the revamped W-4 form correctly could save you a surprise tax bill. |
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