Written by Gary
US stock market equities on light volume made new historic highs, but failed to keep them (SPY flat -0.02%).
The Market in Perspective
| Here are the headlines moving the markets. | |
 | Amazon’s Ring cameras are vulnerable to hackers, lawsuit in U.S. claimsAmazon.com Inc and its Ring home security camera unit have been sued by an Alabama homeowner who said the cameras’ defective design leaves purchasers vulnerable to cyberattacks. |
| Oil hits three-month high on falling oil stocks, investor optimismOil prices rose to the fourth consecutive weekly gain on Friday, steadying at three-month highs after new data showed U.S. crude inventories fell far more than expected, while upbeat economic data and optimism over a U.S.-China trade deal fueled a year-end stock market rally. |
| Global shares rise in record year-end rally, dollar slipsWorld equity markets scaled fresh records as a year-end rally climbed further on Friday with upbeat Chinese economic data and optimism a U.S.-Sino trade deal is imminent raising global growth prospects, but the dollar weakened as risk appetite grew. |
| S&P 500, Dow edge up to records; Nasdaq win streak at riskThe S&P 500 and the Dow industrials edged higher to fresh records on Friday, as a year-end rally fueled by optimism over an initial U.S.-China trade deal chugged along. |
| Oilfield service firms have a bearish outlook for 2020: Dallas FedWith their business outlook worsening, about half of oil field service firms plan to cut spending in 2020, the Federal Reserve Bank of Dallas said on Friday in its quarterly energy survey. |
| Facebook’s Libra has failed in current form: Swiss presidentFacebook’s Libra project has failed in its current form and needs reworking to be approved, said the president of Switzerland where the cryptocurrency is seeking regulatory consent. |
| Tesla set to begin deliveries of China-made Model 3 cars on Dec. 30U.S. electric vehicle maker Tesla Inc will begin delivering Model 3 vehicles built at its Shanghai factory on Monday, a company representative told Reuters. |
| Turkey unveils first fully homemade car in $3.7 billion bet on electricTurkey unveiled its first fully domestically-produced car on Friday, saying it aimed to eventually produce up to 175,000 a year of the electric vehicle in a project expected to cost 22 billion lira ($3.7 billion) over 13 years. |
| China fines Toyota 87.6 million yuan over Lexus price-fixingChina’s market regulator on Friday has fined Japanese carmaker Toyota Motor 87.6 million yuan ($12.5 million) for price-fixing on its premium Lexus cars in eastern Jiangsu province, according to a document on its website. |
| Bonds, Stocks, & Silver Surge Over Xmas Week But Dollar Dives To 5-Month LowsBonds, Stocks, & Silver Surge Over Xmas Week But Dollar Dives To 5-Month Lows
It’s been a year of buying everything: S&P’s best year since 1997 Gold’s best year since 2010 Bond’s best year since 2014 And all it took was $5 trillion in global liquidity!!! |
| One Bank Asks If The Market’s “Explosive” Melt Up Will End In A Flash CrashOne Bank Asks If The Market’s “Explosive” Melt Up Will End In A Flash Crash Earlier we pointed out something which under normal circumstances would be seen as an ominous sign (although the current market is anything but normal as Morgan Stanley pointed out), namely the market’s record euphoria and pervasive trade optimism amid what Nomura dubbed was an “explosive” increase in hedge fund net exposure to US stocks. |
| Are We About To Return To The Principle That “Actions Have Consequences”?Are We About To Return To The Principle That “Actions Have Consequences”? Authored by James Howard Kunstler via Kunstler.com, Evidence of Absence What is most perilous for our country now, would be to journey through a second epic crisis of authority in recent times without anybody facing the consequences of crimes they might have committed. The result will be a people turned utterly cynical, with no faith in their institutions or the rule of law, and no way to imagine a restoration of their lost faith within the bounds of law. It will be a deadly divorce between truth and reality. It will be an invitation to civil violence, a broken social contract, and the end of the framework for American life that was set up in 1788. |
| Vodafone Idea, Airtel may have to wait longer for Trai lifelineVodafone Idea, Airtel may have to wait longer for Trai lifelineThe telecom regulator could take at least six more months to decide on a floor price for tariffs. |
| Bank frauds have hit a record Rs 1.13 lakh crBank frauds have hit a record Rs 1.13 lakh cr97.3% of the frauds reported in the first half of FY20 by value occurred in previous financial years. |
| How Instagram is changing the way you shopHow Instagram is changing the way you shop Instagram has altered the look and nature of products people buy and the physical spaces where they shop. |
| Rail Week Ending 21 December 2019 – Intuitive Sectors Decline and Remain In ContractionWritten by Steven Hansen Week 51 of 2019 shows same week total rail traffic (from same week one year ago) contracted according to the Association of American Railroads (AAR) traffic data. The intuitive sectors declined.
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| The Moneyist: ‘Even wealthy Americans have no qualms about re-gifting’ ” but when is it NOT cool to re-gift your unwanted swag?‘Cast thy bread upon the waters: for thou shalt find it after many days.’ |
| The No. 1 job in America that requires no experience pays $100,000 a year ” and it’s NOT in Silicon ValleyThese 2019 figures are based on salary, openings, and the amount of experience required. |
| Want to get your finances in order in 2020? Here’s the only New Year’s resolution you should make‘With effort and perseverance, many in our nation could change from a state of financial fragility to one of financial resilience.’ |
Summary of Economic Releases this Week
Earnings Summary for Today
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