20Dec2019 Midday Update: Wall Street Rides Trade Optimism To Record Highs, DOW Up 105 Points, WTI Crude Slips To 60.01, US Economy Grows Steadily In Third Quarter

Here is the current market situation from CNN Money

North and South American markets are mixed. The S&P 500 is higher by 0.56%, while the Bovespa is leading the IPC lower. They are down 0.11% and 0.04% respectively.

Stocks extend record rally, sterling endures rough week

A year-end rally in global equity markets extended gains on Friday, helped by data showing relatively strong U.S. growth, while sterling headed toward its worst week in more than two years on concerns over how Britain will leave the European Union.

FCA sticks to investment plan for Italy, no redundancies: unions

Fiat Chrysler will stick to its 5 billion euro ($5.5 billion) 2020 investment plan for Italy, union officials said on Friday, adding that the group had confirmed a pledge to get all employees off furlough arrangements and back to work by 2022.

Novartis wins Medicaid approval for new sickle cell drug in key U.S. states

Novartis AG has secured Medicaid coverage for a pricey new sickle cell disease therapy in two U.S. states just weeks after winning U.S. approval, following an early campaign to convince local officials of its value, according to a company executive and a Reuters review of public filings.

Spirit AeroSystems to freeze parts production for 737 MAX as Boeing woes spread

Boeing’s top supplier Spirit AeroSystems Inc said on Friday it would stop making fuselages for the grounded 737 MAX jets, the first major indication of disruption spreading to the planemaker’s suppliers facing thousands of potential layoffs.

U.S. Justice Department and FCC fight state effort to block merger of Sprint, T-Mobile

The U.S. Justice Department and Federal Communications Commission filed in court on Friday to support a merger of T-Mobile and Sprint , the third- and fourth-largest wireless carriers.

Wall Street rides trade optimism to record highs

U.S. stocks inched to fresh record highs on Friday, as investors remained optimistic about improving trade relations between Washington and Beijing in the run-up to the holiday season.

U.S. economy grows steadily in third quarter; consumer spending solid in November

U.S. economic growth nudged up in the third quarter, the government confirmed on Friday, and there are signs the economy more or less maintained the moderate pace of expansion as the year ended, supported by a strong labor market.

Shell writes down up to $2.3 billion on weaker economic outlook

Royal Dutch Shell said on Friday it expected to write down up to $2.3 billion in the fourth quarter, the latest major energy company forced to shrink estimates for sector values due to a weaker economic outlook.

Just Eat food fight nears end as it backs Takeaway’s final offer

Just Eat backed a final 5.5 billion pound ($7.2 billion) all-share offer from Takeaway.com on Friday, saying a tie-up to create one of the leading online food delivery companies was more compelling than a rival cash bid from Prosus.

At Least 61 US Veterans Who Guarded ‘Contaminated’ Ex-Russian Base Died Or Have Cancer

At Least 61 US Veterans Who Guarded ‘Contaminated’ Ex-Russian Base Died Or Have Cancer

At least 61 US special operations forces who were deployed to a former Soviet base just a few hundred miles from the Afghanistan border have either died or have cancer, according to a new report by McClatchy DC’s Tara Copp.

The Strongest Seasonal-Advance In Precious Metals Begins Now

The Strongest Seasonal-Advance In Precious Metals Begins Now

Authored by Dmitri Speck via Acting-Man.com,

Plans and Consequences

You are probably already getting into the holiday spirit, perhaps you are even under a little stress. But the turn of the year will soon be here ” an occasion to review the past year and make plans for the new one. Many people are doing just that ” and their behavior is creating the strongest seasonal rally in the precious metals markets.

US Steel Shares Plunge, Dividend Slashed, Buybacks Halted, 1,500 Workers Cut Amid Deepening Manufacturing RecessionÂ

US Steel Shares Plunge, Dividend Slashed, Buybacks Halted, 1,500 Workers Cut Amid Deepening Manufacturing RecessionÂ

President Trump told a crowd of steelworkers in Illinois in July 2018 that “After years of shutdowns and cutbacks today the blast furnace here in Granite City is blazing bright, workers are back on the job and we are once again pouring new American steel into the spine of our country.”Â

While US Steel’s Granite City might be operational for the time being, the steel producer has just announced it will shut down a “significant portion” of its Great Lakes Works facility, slash its dividend, terminate 80% of its share buyback program, and layoff 1,500 workers.Â

Great Lakes Works is expected to halt operations by April 2020. The mill rolls slabs into sheets of steel and has been battered by the manufacturing recession and trade war. The facility laid off 200 workers earlier this year, with another 1,500 in the near term, reported 247 Wall Street. Â

With Stocks In Full-Blown Melt Up, Here Are The Key Gamma And Delta Strikes To Watch

With Stocks In Full-Blown Melt Up, Here Are The Key Gamma And Delta Strikes To Watch

Yesterday we presented a lengthy explanation why in a technically and position-driven market such as this one, gamma is arguably one of the most important factor explaining short-term market moves. This prompted numerous reader inquiries what are the key gamma (and delta) strikes to watch. Today, courtesy of Nomura’s Charlie McElligott, and in light of today’s year-end quad withing day, we answer this question.

First, looking at the market gamma pins, McElligott notes that the big strikes now are at 3,210, 3,225 and 3,250 as gamma shifts to ever higher strikes on account of overwriters rolling “out and up.”

Finance Minister has some serious advice for corporate India

Finance Minister has some serious advice for corporate IndiaSitharaman has asked India Inc to come out of “self doubt” mood and unleash the animal spirit .

Gopinath on why India needs to be fiscally fit

Gopinath on why India needs to be fiscally fit”For India, macro stability is very important, which means stability on the fiscal front,” Gopinath said.

Life cover: All that changed in 2019 for you

Life cover: All that changed in 2019 for youIRDAI has further simplified both traditional and ULIP products offered by life insurers.

13 December 2019 ECRI’s WLI Growth Rate Unchanged

Written by Steven Hansen

ECRI’s WLI Growth Index which forecasts economic growth six months forward was unchanged and remains slightly in expansion. ECRI released their coincident and lagging indicators this week.

Key Words: The stock market could surge another 20% if the head of Merrill Lynch’s wealth management is right

Head of Merrill Lynch Wealth Management Andy Sieg says that the U.S. stock market has plenty of room to run higher, despite a remarkable bull run that has taken the three main benchmarks to new heights.

Key Words: ‘I’m 100% in equities. ¦ You’re never going to make enough money if you have 40% of your money in bonds,’ says CNBC anchor

CNBC’s Becky Quick on Thursday morning explains that she’s all but abandoned allocating any portion of her personal investment portfolio to bonds.

The Wall Street Journal: U.K. Parliament backs Johnson’s Brexit deal, clearing major hurdle

Britain’s new Parliament voted overwhelmingly Friday to back Prime Minister Boris Johnson’s Brexit accord, a significant step toward the country’s departure from the European Union on Jan. 31.