14Jan2020 Midday Update: Wall Street Main Indexes Set New High, Albeit Just, DOW +0.4%, Gold Steady At 1540, Wells Fargo Quarterly Profit Slumps 55%

Here is the current market situation from CNN Money

North and South American markets are mixed to lower. Shares in Mexico are off as the IPC drops 0.91%. The Bovespa is down 0.19% while the S&P 500 in U.S. is unchanged.

S&P 500 eases from record on tech retreat, Wells Fargo slide

The S&P 500 eased from record levels on Tuesday, as technology stocks handed back gains made on hopes of a preliminary U.S.-China trade deal and Wells Fargo slid in a mixed start to big banks’ quarterly earnings.

China to ramp up U.S. car, aircraft, energy purchases in trade deal: source

China has pledged to buy almost $80 billion of additional manufactured goods from the United States over the next two years as part of a trade war truce, according to a source, a target that could provide a much-needed boost for planemaker Boeing but is being questioned by U.S. trade experts.

Delta beats profit forecast on strong demand as rivals battle 737 MAX crisis

Delta Air Lines Inc on Tuesday reported a fourth-quarter profit that beat estimates, boosted in part by customers it gained from rival airlines’ 737 MAX cancellations and growing air travel demand.

Boeing net orders slump to lowest in decades

Boeing Co reported its worst annual net orders in decades on Tuesday, along with its lowest numbers for plane deliveries in 11 years, as the grounding of its 737 MAX jet saw it fall far behind main competitor Airbus .

American Airlines extends Boeing 737 MAX flight cancellations into June

American Airlines Group Inc will extend cancellations of Boeing Co 737 MAX flights through June 3 as the grounding threatens to impact a second busy U.S. summer travel season.

Stock rally stalls ahead of U.S.-China trade deal, oil gains

Equity markets traded little changed globally on Tuesday as investors awaited the signing of the China-U.S. trade deal, while oil prices rose on hopes the agreement will help revive the world’s sluggish economy.

Amazon boss Jeff Bezos arrives in India as local traders plan protests

Amazon.com Inc founder Jeff Bezos arrived in India on Tuesday, according to a post on his Twitter account, as thousands of small traders across 300 cities planned protests, claiming the firm is distorting local retail market.

Citigroup beats estimates on credit card, trading revenue growth

Citigroup Inc beat analysts’ estimates for fourth-quarter profit on Tuesday, boosted by growth in its credit card business and a jump in trading revenue.

JPMorgan posts record annual profit as bond trading rebounds

JPMorgan Chase & Co posted its biggest-ever annual profit on Tuesday as its bond trading business bounced back in the last three months of the year, setting an upbeat tone for the big U.S. banks reporting this week.

Establishment Pundits Go Nuts Over New Russian Hacking Conspiracy

Establishment Pundits Go Nuts Over New Russian Hacking Conspiracy

Authored by Caitlin Johnstone via Medium.com,

The New York Times reports that GRU operatives launched a successful œphishing attack on the Ukrainian gas company at the heart of scandalous allegations about Joe Biden, and establishment pundits are falling all over themselves to tweet the hottest take on this exciting new Russia conspiracy.

You Can’t Make This Up: NY Fed President Slams Bankers For Risk-Taking Behavior

You Can’t Make This Up: NY Fed President Slams Bankers For Risk-Taking Behavior

The latest stroke of genius from NY Fed president John Williams, who spoke earlier today to students at the London School of Economic with the intention of giving them career advice and perspectives on corporate culture (Williams says “I’ve now led two major organizations, and culture is both the hardest and the most important thing to get right” and yet he hasn’t worked in the private sector a single day in his life), is simply beyond commentary, even for jaded, veteran observers of endless human observers such as this wwebsite.

Consider the following excerpt from his speech:

When we talk about company culture in the context of financial services, the first thing that comes to mind is the risky, unethical, and sometimes criminal behavior in the banking industry, particularly during the financial crisis. And 10 years on from the crisis, this behavior persists. Instances of fraud, money laundering, and scandals related to foreign exchange and LIBOR continue to make the headlines.

And then consider the following admission from Fed Chair Jerome Powell, made in October 2012:

I think we are actually at a point of encouraging risk-taking, and that should give us pause. Investors really do understand now that we will be there to prevent serious losses. It is not that it is easy for them to make money but that they have every incentive to take more risk, and they are doing so. Meanwhile, we look like we are blowing a fixed-income duration bubble right …

Sanders Surges To Top In California; Polls Show Biden Leading In Iowa, New Hampshire

Sanders Surges To Top In California; Polls Show Biden Leading In Iowa, New Hampshire

Authored by Jon Queally via CommonDreams.org,

With a ten-point jump since November, Sen. Bernie Sanders has surged to the lead in a California tracking poll less than two months before the state’s Democratic primary on Super Tuesday ” March 3.

The tracking poll Public Policy Institute of California, which was last conducted in November, shows Sanders leading with support of 27 percent of likely Democratic primary voters, followed by former Vice President Joe Biden with 24 percent and Sen. Elizabeth Warren at 23 percent.

#NEW California @PPICNotes Poll:

Sanders 27% (+10 since last month)
Biden 24% (-)
Warren 23% (-)
Buttigieg 6% (-1)
Klobuchar 4% (+3)
Yang 3% (-2)https://t.co/sjVuKv43ja pic.twitter.com/HOOqDjf5XM

” Political Polls (@PpollingNumbers) January 14, 2020

“Collateral Damage”: Trudeau Blames Trump For Iran Accidentally Shooting Down Passenger Plane

“Collateral Damage”: Trudeau Blames Trump For Iran Accidentally Shooting Down Passenger Plane

No, this isn’t a mistake or a misquote.

Canadian PM Justin Trudeau really did just blame President Trump for the downing of Ukrainian International Airlines Flight 752, which was shot down by an IRGC missile operator just minutes after taking off from the International Airport in Tehran.

After initially denying any involvement in the accident, the Iranian regime confirmed the world’s suspicions on Saturday when it announced that the passenger plane was shot down by mistake, killing more than 170 passengers and crew, including more than 60 Canadians.

In the days after the crash, Trudeau demanded that Iran allow Canadian investigators to cooperate in the investigation, and examine the data.

India Inc could be headed for forgettable Q3 earnings

India Inc could be headed for forgettable Q3 earningsPolitical disruptions due to the anti-CAA protests also hurt sales for a few companies.

Retailer’s war against e-tailers may get ugly

Retailer’s war against e-tailers may get uglyHandset retailers plans to meet the FM with the demand of a probe into GST and I-T return filing by etailers.

The ‘Amazon’ of realty sector is here

The ‘Amazon’ of realty sector is hereHousing ministry launched an e-commerce platform to facilitate homebuyers in identifying genuine properties.

The Tell: Fund manager’s top 2020 surprise: Biden wins in clean sweep for Democrats amid ‘garden variety’ bear market

Politics and profits will influence the stock market more so in 2020 than they have in any other year over the past decade, according to Doug Kass of Seabreeze Partners Management, who calls himself œa cynic looking for truth.

The Tell: Forget the election, stocks face this crucial test right now, analyst says

Investors may be sweating the November presidential election, but the stock market’s true test is likely to come in the current quarter, says one Wall Street bull.

Need to Know: History will repeat itself when it comes to stocks in 2020, Goldman Sachs says

The signing of a œphase one trade deal between the U.S. and China after months of negotiations and tensions looks set to boost stocks further.