07Jan2020 Market Close: Wall Street Slips Fractionally, DOW Closes Down 0.4%, Energy Shares Fall, Investor Uncertainty Persists Amid The US-Iran Standoff

Exclusive: Impossible Foods abandons pursuit of McDonald’s burger deal

Impossible Foods is no longer trying to win a coveted deal to supply McDonald’s Corp with plant-based burgers, telling Reuters it cannot produce enough of its imitation meat to partner with the world’s No.1 fast-food chain.

S&P 500, Dow slip with investor focus on Middle East, but chipmakers climb

The S&P 500 and Dow declined on Tuesday as investor uncertainty persisted amid the U.S.-Iran standoff, while energy shares fell as oil prices gave up recent gains.

Dollar gains, oil slips as markets focus on Mideast

The dollar gained, helped by better-than-expected data in the U.S. non-manufacturing sector, and oil prices retreated on Tuesday as investors anxiously scanned developments in the U.S.-Iranian stand-off in the Middle East.

Oil falls 1% as investors reassess Middle East risks

Oil prices fell almost 1% on Tuesday, surrendering some recent gains as investors reconsidered the likelihood of immediate supply disruptions in the Middle East after the United States killed a top Iranian military commander last week.

U.S., European regulators to meet with Boeing this week on 737 MAX software audit

U.S. and European aviation safety regulators will meet with Boeing this week in an effort to complete a 737 MAX software documentation audit – a key step toward the grounded plane’s eventual return to service.

Boeing now recommends 737 MAX simulator training for pilots before flight resumption

Boeing Co said on Tuesday it was recommending that airline pilots undergo simulator training before they resume flying the 737 MAX, a shift from its previous position that pilots only needed computer-based training on new software following two fatal crashes.

Latin America’s Avianca reduces Airbus order by 20 planes

Latin American airline Avianca has reached an agreement with airplane manufacturer Airbus to reduce the number of planes it was set to buy by 20, the company said on Tuesday.

Stripteasing Musk launches Tesla SUV program In China

Elon Musk raised an online storm by dancing on stage at the launch of Tesla’s Model Y electric sports utility vehicle program on Tuesday in its new Shanghai factory, where the company delivered its first cars built outside the United States to the public.

U.S. trade deficit at three-year low as imports tumble

The U.S. trade deficit fell to a more than three-year low in November as imports declined further, weighed down by the Trump administration’s trade war with China, and exports rebounded, suggesting solid economic growth in the fourth quarter.

Bitcoin & Bullion Bid As Stocks & Bonds Skid

Bitcoin & Bullion Bid As Stocks & Bonds Skid

Overheard as stocks soared last year…

Because fun-durr-mentals…

And Again: The Fed Monetizes $4.1 Billion In Debt Sold Just Days Earlier

And Again: The Fed Monetizes $4.1 Billion In Debt Sold Just Days Earlier

Over the past week, when looking at the details of the Fed’s ongoing QE4, we showed out (here and here) that the New York Fed was now actively purchasing T-Bills that had been issued just days earlier by the US Treasury. As a reminder, the Fed is prohibited from directly purchasing Treasurys at auction, as that is considered “monetization” and directly funding the US deficit, not to mention is tantamount to “Helicopter Money” and is frowned upon by Congress and established economists. However, insert a brief, 3-days interval between issuance and purchase… and suddenly nobody minds. As we summarized:

“for those saying the US may soon unleash helicopter money, and/or MMT, we have some ‘news’: helicopter money is already here, and the Fed is now actively monetizing debt the Treasury sold just days earlier using Dealers as a conduit… a “conduit” which is generously rewarded by the Fed’s market desk with its marked up purchase price. In other words, the Fed is already conducting Helicopter Money (and MMT) in all but name. As shown above, the Fed monetized T-Bills that were issued just three days earlier – and just because it is circumventing the one hurdle that prevents it from directly purchasing securities sold outright by the Treasury, the Fed is providing the Dealers that made this legal debt circle-jerk possible with millions in profits, even as the outcome is identical if mer …

Iranian MPs Pass Bill Labeling All US Military Personnel “Terrorist Entities”

Iranian MPs Pass Bill Labeling All US Military Personnel “Terrorist Entities”

Lawmakers of the Islamic Consultative Assembly on Tuesday have labeled the Pentagon and its affiliates as terrorist entities under a new law, according to Islamic Republic News Agency (IRNA).Â

Iran’s new legislation was overwhelmingly approved by 223 lawmakers, according to IRNA. The law comes in response to the US’ assassination of top Iranian general Qasim Suleimani last Friday.Â

CNN Attacks Babylon Bee: Is The Web Only Big Enough For One Fake News Site?

CNN Attacks Babylon Bee: Is The Web Only Big Enough For One Fake News Site?

On Sunday, a CNN reporter sounded the alarm over the popularity of a piece published by a conservative satirical site.

As Fox News reports, last week, The Babylon Bee drew some laughs with an article poking fun at the Democrats’ reaction to the U.S. airstrike that led to the death of Irani Gen. Qassem Soleimani, using the headline “Democrats Call For Flags To Be Flown At Half-Mast to Grieve Death of Soleimani.”

Govt firms up a nine-point plan to plug GST revenue leaks

Govt firms up a nine-point plan to plug GST revenue leaksThe action plan was finalised after a meeting of state and central GST chief commissioners on Tuesday.

Your TV bill is likely to go down from March

Your TV bill is likely to go down from MarchTrai amendments to new regulatory framework could lower DTH/cable bills by up to 14 per cent, Icra said.

Bharat Bandh today: All you need to know

Bharat Bandh today: All you need to knowNearly 25 crore people are likely to take part in the strike to protest against govt’s “anti-people” policies.

November 2019 Headline Manufacturing New Orders Declined

Written by Steven Hansen

US Census says manufacturing new orders declined month-over-month. Our analysis shows the rolling averages insignificantly improved but showing no year-over-year growth.

November 2019 Inflation Adjusted Trade Little Changed

Written by Steven Hansen

Trade data headlines show the trade balance improved with exports growth moderately improving. Still if one looks at inflation-adjusted data, there was little change in the rate of growth for both exports and imports.

The Tell: Here’s why Groundhog Day could be a critical juncture for this bull market

Russ Koesterich, portfolio manager at ETF giant BlackRock, is mostly bullish on 2020 ” at least for the next few weeks.

Capitol Report: Republicans and Democrats signal they’re still at impasse on Trump’s impeachment trial in Senate

As Congress gets back to work this week, top Republican and Democratic lawmakers are indicating that they remain at an impasse over President Donald Trump’s impeachment trial.

Trump Today: Trump walks back threat to break international rules of conflict and target Iranian cultural sites

President Donald Trump said Tuesday the U.S. is prepared to act against Iran if it retaliates for the killing of one of its top military leaders, but pulled back on a threat to target the country’s cultural sites.