Written by Gary
Wall Street’s major indexes hit record highs, all closing within pennies of their high marks (SPY +0.9%). A shot of Chinese stimulus drove a gauge of world equity performance to a record high.
The Market in Perspective
| Here are the headlines moving the markets. | |
 | Oil edges up on Mideast tensions, trade optimismOil inched up on Thursday on rising tensions in the Middle East and signs of improving Washington-Beijing trade relations, but a strong U.S. dollar limited price gains. |
| Wall Street opens 2020 with new records on China stimulus, trade hopesWall Street’s major indexes hit record highs to open the new year on Thursday, as fresh economic stimulus from China added to optimism fueled by easing trade tensions and an improving global outlook. |
| Lebanon receives Interpol arrest warrant for ex-Nissan boss GhosnLebanon received an Interpol arrest warrant on Thursday for former Nissan chairman Carlos Ghosn, while Turkey launched an investigation into his daring escape from Japan via Istanbul. |
| Global stocks surge as rally enters new year, dollar reboundsThe dollar snapped a four-day losing streak on Thursday and global stock markets jumped at the start of 2020 as a shot of Chinese stimulus drove a gauge of world equity performance to a record high. |
| Uber Eats goes local to find its niche in South African food fightA stone’s throw from Nelson Mandela’s former home in South Africa’s Soweto township, Dumile Badela’s restaurant is now more hectic and lucrative than ever, thanks to Uber Eats, his hungriest customer yet. |
| From arrest to flight – key dates in the Ghosn affairOusted Nissan boss Carlos Ghosn decided to flee Japan after learning that his trial had been delayed until April 2021 and also because he had not been allowed to speak to his wife, sources close to Ghosn said on Thursday. |
| Lebanon played no official role in Ghosn exit: minister to MTVLebanon played no official role in ousted Nissan boss Carlos Ghosn’s departure from Japan, caretaker defense minister Elias Bout Saab told Lebanese broadcaster MTV on Thursday. |
| Dollar recovers from six-month low after year-end sell-offThe dollar recovered from a six-month low to rise 0.46% on Thursday, the year’s first trading day, after a downbeat December that left the index virtually flat at the end of 2019 . |
| Carlos Ghosn says family played no role in escape from Japan: statementThe family of former Nissan boss Carlos Ghosn played no role in his escape from Japan, Ghosn said in a statement on Thursday, days after his abrupt arrival in Beirut from Tokyo, where he faces trial for alleged financial misconduct. |
| Stocks, Bonds, Silver, & The Dollar All Soar As 2020 StartsStocks, Bonds, Silver, & The Dollar All Soar As 2020 Starts Overheard in Apple’s corporate treasury office… Chinese stocks were up on the first day of 2020… |
| The Price Of Year-End Market Stability: $414 BillionThe Price Of Year-End Market Stability: $414 Billion One year ago today, when only a handful of market insiders were aware such a thing as the repo market exists (and even fewer were worried about how broken it would soon become), something unexpected happened: as we reported on January 1, 2019, the closing print of the overnight general collateral rate exploded to 6.125%, the highest GC repo rate observed since January 2001, and roughly 400 bps higher than the Fed funds rate. |
| China Halts UK Stock Connect Over Hong Kong Rift ÂChina Halts UK Stock Connect Over Hong Kong Rift  Sources told Reuters Thursday that China is blocking a proposed merger to connect the Shanghai and London stock exchanges because of escalating political tension. The sources, which include government officials and people on the transaction team working to solidify the Shanghai-London deal, said the suspension via China was politically driven in response to Britain’s support of pro-democracy demonstrators in Hong Kong. One source told Reuters that “It’s not only a big blow to the companies looking to broaden the investor base via listings in London, but also to China’s links with global markets.” |
| Gold: How High In 2020?Gold: How High In 2020? Authored by Mike Shedlock via MishTalk, Gold broke out of a six year consolidation. Things look up in 2020. Gold Monthly Chart 2004-Present |
| Rs 3.13L cr: Non-telcos face bigger AGR pain than telecom firmsRs 3.13L cr: Non-telcos face bigger AGR pain than telecom firmsThe total amount the DoT has sought from non-telecom companies stand at Rs 3.13 lakh crore. |
| The biggest challenge facing e-comm sectorThe biggest challenge facing e-comm sector To keep up with these changing demands, it is crucial that the logistics sector be efficient. |
| Choosing health cover is set to get a lot easierChoosing health cover is set to get a lot easierIrdai has issued guidelines on standard individual health insurance, asking insurers to cover basic health needs. |
| November 2019 Leading Index Review: Continues to Forecast Soft GrowthWritten by Steven Hansen
This post is a review of all major leading indices showing their values as of the date of this post. Generally, the indices are forecasting weak growth. |
| The Tell: The stock market’s rally to start 2020 means it will take the average worker a record 114 hours to buy one unit of the S&P 500Stocks lurch toward fresh records to commence the first trading day in 2020, but those gains have raised some questions about the run-up in values for broad-market U.S. equity benchmarks. |
| The Tell: A popular Wall Street blogger vowed to never short the stock market again ” until nowAfter getting destroyed by misplaced bets against stocks, Wolf Richter of the popular Wolf Street financial blog, says he’s back at it again. |
| The Tell: Don’t laugh, here’s why the ‘great rotation’ from bonds to stocks could finally happen in 2020After years of false starts, talk of a œgreat rotation out of bonds and into stocks is now usually met with derision. But the phenomenon has been a feature of the late innings of œall great bull markets ” and this one should be no exception, argues a prominent Wall Street analyst. |
Summary of Economic Releases this Week
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