Written by Gary
Wall Street’s major stock indexes slipped today from profit taking (SPY -0.6%). The year-end rally apparently has lost steam after pushing stocks to record highs in 2019.
The Market in Perspective
| Here are the headlines moving the markets. | |
 | Ford says Mustang Mach-E reservations fullFord Motor Co said on Monday reservations for the first edition of its electric sport utility vehicle, Mustang Mach-E, are full. |
| Wall Street pulls back from records as investors take profitsWall Street’s major stock indexes slipped from record highs on Monday as investors booked profits from gains made this month after the United States and China reached a trade deal. |
| World stocks slip as rally pauses, dollar easesThe dollar slid on Monday on a loss of safe-haven appeal, and global stock markets fell as a year-end rally lost steam after pushing stocks to record highs in 2019. |
| Oil hits three-month high on upbeat data, Middle East tensionOil prices rose on Monday to three-month highs, lifted by optimism over an expected China-U.S. trade deal and upbeat industrial data, while traders kept a close watch on the Middle East following U.S. air strikes in Iraq and Syria. |
| Lockheed Martin hits 2019 F-35 delivery target of 131 jetsLockheed Martin Corp said on Monday it has reached its 2019 target to deliver 131 F-35 fighter jets to the United States and its allies, as the defense contractor built 47% more jets this year. |
| ‘Do Not Sell My Info’: U.S. retailers rush to comply with California privacy lawU.S. retailers including Walmart Inc will add “Do Not Sell My Info” links to their websites and signage in stores starting Jan. 1, allowing California shoppers to understand for the first time what personal and other data the retailers collect, sources said. |
| Nestle wraps up 20 billion Swiss franc share buyback, launches new programSwiss food giant Nestle said on Monday it had completed a 20 billion Swiss franc ($20.7 billion) share buyback program and reiterated plans for a new one up to the same amount starting next year. |
| Tesla delivers first China-made Model 3 sedans in just under a yearTesla has started delivering Model 3 electric cars built at its Shanghai factory in just under a year since it began work on the $2 billion plant, a record for global automakers in China, and said it would ramp up deliveries from next month. |
| White House adviser says China trade deal signing expected soonThe White House’s trade adviser on Monday said the U.S.-China Phase 1 trade deal would likely be signed in the next week, but said confirmation would come from President Donald Trump or the U.S. Trade Representative. |
| Stocks & Bonds Suffer Worst Day In A Month As Year-End LoomsStocks & Bonds Suffer Worst Day In A Month As Year-End Looms “But everyone else was long too, right?” Stock and bond prices were both down today – adding up to the worst combined day since 12/2 |
| McDermott Plunges On Report Bankruptcy Filing Could Come “Within Weeks”McDermott Plunges On Report Bankruptcy Filing Could Come “Within Weeks” It’s been a bad year for McDermott shareholders and it’s about to get even worse. The Houston-based engineering and construction giant, which has struggled this year after it reported losses on some big liquefied natural gas construction projects, and which saw its stock crushed from $10 to as low as $1 amid speculation it may restructure… |
| “It’s Not Over!”“It’s Not Over!” Authored by Sven Henrich via NorthmanTrader.com, Central banks came, saw, and saved everything again and set the global economy back on a path of reflation or so go many market narratives being sold to the public these days following the furious Q4 market rally to new highs. |
| “US Dominance In Mideast Is Over”: Iran Declares After Joint Drills With Russia & China“US Dominance In Mideast Is Over”: Iran Declares After Joint Drills With Russia & China At a moment the US struck five supposedly ‘Iran-linked’ militia bases in Iraq and Syria on Sunday, sending regional tensions soaring, unprecedented four-day long joint naval drills involving Iran, Russia and China outside the Persian Gulf were simultaneously winding down. Iran used the occasion of being joined by Chinese and Russian warships in the Gulf of Oman and Indian Ocean to declare that US dominance in the Middle East is now over. “Today, the era of American free action in the region is over,” naval commander Rear Admiral Hossein Khanzadi said. “They must leave the region gradually,” he added. |
| Struggling to stay fiscally fit, FinMin tightens purse stringsStruggling to stay fiscally fit, FinMin tightens purse stringsThe FinMin has cut ministries’ spending limit to 25% of budget estimate for entire fiscal year. |
| Hinduja brothers ready bid for grounded JetHinduja brothers ready bid for grounded JetGopichand Hinduja and Ashok Hinduja plan to submit an expression of interest by the Jan 15 deadline. |
| 2020 may decide contours of Modi’s legacy2020 may decide contours of Modi’s legacy in the coming year, the political focus will largely shift squarely on governance. |
| Bond Report: 2-year/10-year Treasury yield curve touches steepest since October 2018Long-dated Treasury yields climb Monday as the yield curve steepens to its widest point this year amid increasing confidence that a phase one trade deal would help bolster the U.S. and Europe’s growth prospects. |
| Nio’s stock jumps more than 60% after quarterly loss narrows, deliveries surgeShares of Nio rocketed on heavy volume Monday, and were headed for a record rally, after the China-based electric-vehicle maker reported a third-quarter loss that narrowed more than expected, as revenue and vehicle deliveries surged, helping to provide an upbeat outlook for the current quarter. |
| UPS expects a record-breaking 1.9 million returns on National Returns DayAmazon is offering one free return on even more items heading into National Returns Day, which UPS says will break records. |
Summary of Economic Releases this Week
Earnings Summary for Today
leading Stock Positions
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