Written by Gary
The dollar slid to a six-month low today as progress on US-China trade tensions led investors to higher-risk assets (SPY +0.2%). Global equity markets sent to record highs petered out on the last trading day of 2019.
The Market in Perspective
Here are the headlines moving the markets. | |
Oil posts biggest yearly rise since 2016Oil prices fell 1% on Tuesday, the last trading day of the decade, but notched the biggest annual gain in three years, supported by a thaw in the prolonged U.S.-China trade war and ongoing supply cuts from major oil producers. | |
Global stocks end 2019 near record highs, dollar slidesThe dollar slid to a six-month low on Tuesday as progress on U.S.-China trade tensions led investors to higher-risk assets, while a year-end rally that pushed global equity markets to record highs petered out on the last trading day of 2019. | |
S&P 500 inches lower as year-end record rally cools offThe S&P 500 dipped on Tuesday as investors took profits from a year-end rally powered by trade optimism and an improving global outlook, which put the benchmark index on track for its biggest annual percentage gain since 2013. | |
Dollar index records smallest ever annual move in 2019The U.S. dollar index recorded its smallest-ever annual move in 2019, up just 0.24% for the year after a drop in December reversed early gains as trade hopes and investor confidence diminished demand for the safe-haven asset. | |
Trump says U.S.-China trade deal will be signed on January 15U.S. President Donald Trump said on Tuesday that Phase 1 of trade deal with China would be signed on Jan. 15 at the White House, though considerable confusion remains about the details of the agreement. | |
Tesla must face lawsuit claiming racism at California factoryA federal judge rejected Tesla Inc’s effort to dismiss claims by two former workers that the California electric car factory where they worked was a hotbed of racial hostility, clearing the way for a possible trial. | |
Hudson’s Bay chairman considers sweetened bid for retailerHudson’s Bay Co Chairman Richard Baker and his partners have approached the retailer’s minority stockholders, including bidding rival Catalyst Capital, to potentially raise their take-private bid, a source familiar with the matter said on Tuesday. | |
Ghosn says he escaped ‘injustice’ in Japan; Lebanon calls arrival a private matterOusted Nissan boss Carlos Ghosn said on Tuesday he had fled to Lebanon to escape a “rigged” justice system in Japan, raising questions about how one of the world’s most-recognized executives had slipped away while on bail. | |
Factbox: Carlos Ghosn joins list of execs fighting extraditionOusted Nissan boss Carlos Ghosn said on Tuesday he had fled to Lebanon to escape a “rigged” justice system in Japan, where he believed he would not get a fair trial. | |
2019 – The Year Of Buying Everything2019 – The Year Of Buying Everything The global bond and stock markets added $24 trillion in market value ($17.5 tn stocks, $6.5 tn in bonds) | |
“A Nation Dying” – Opioid Deaths Linked To Auto Plant Closures, Study Says“A Nation Dying” – Opioid Deaths Linked To Auto Plant Closures, Study Says A new study has found the link between automobile manufacturing plant closures and a community’s struggle with opioid overdose deaths. The study, published Monday in JAMA Internal Medicine, titled “Association Between Automotive Assembly Plant Closures and Opioid Overdose Mortality in the United States,” shows how US adults are more likely to die from opioid overdoses if they live near a manufacturing plant that closed in the last five years. “Our findings illustrate the importance of declining economic opportunity as an underlying factor associated with the opioid overdose crisis,” researchers from the Perelman School of Medicine at the University of Pennsylvania wrote in the study. Researchers examined opioid death rates in 112 manufacturing counties across the US that had at least one manufacturing plant close since 1999. A majority of the counties were in the South and Midwest regions of the country. | |
Watch: 20 Times Leftists Went Berserk On Campus In 2019Watch: 20 Times Leftists Went Berserk On Campus In 2019 Via The College Fix, TRIGGERED: Violence, destruction, rage… | |
Epstein’s ‘Madam’ Must Have ‘Serious Dirt’ On Powerful People: Former AssociateEpstein’s ‘Madam’ Must Have ‘Serious Dirt’ On Powerful People: Former Associate Ghislaine Maxwell likely has “serious dirt” on powerful people, according to a former friend who thinks Jeffrey Epstein’s alleged ‘madam’ thinks she can evade prosecution as a co-conspirator in the dead pedophile’s decades-long sex crimes. | |
RBI tightens control, co-ops will now need approval for new CEORBI tightens control, co-ops will now need approval for new CEORBI had previously capped lending to a single borrower & raised priority sector lending requirements for UCBs | |
US, China take another step towards truceUS, China take another step towards truceThe two sides earlier this month announced a “Phase One” deal in their nearly two-year trade confrontation. | |
Feb on, shops must go cashless or face fineFeb on, shops must go cashless or face fineShops, firms with an annual turnover of Rs 50 cr or more need to provide digital payment facilities. | |
The New York Post: Ex-FBI agent Strzok says in new filing in wrongful-termination suit that his free-speech rights were violatedThe document was filed in response to the Justice Department’s motion to dismiss Peter Strzok’s wrongful-termination lawsuit, which Strzok filed in August. | |
Key Words: Dow industrials in 2020 will hit 32,000, predicts Trump’s trade adviser Peter NavarroSpeaking on CNBC on Tuesday, Navarro forecast another period of buoyancy for equity benchmarks and the U.S. economy. | |
Personal Finance Daily: Your no B.S. guide to losing weight in the New Year and this critical tax change ‘will send estate planners reeling’Tuesday’s top personal finance stories |
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