20Jan2020 Market Commentary: Most Markets Are Closed For The Martin Luther King Holiday, DOW Futures Down 36 Points, SP 500 Futures Down -0.2%, US Equity Futures Will Trade Electronically Until 1 P.m. ET

Here is the current market situation from CNN Money

European markets are mixed. The DAX is higher by 0.12%, while the FTSE 100 is leading the CAC 40 lower. They are down 0.30% and 0.26% respectively.

BBC’s Hall to step down ahead of crunch funding talks with British government

The BBC’s most powerful man will step down in six months to allow a new person to lead negotiations with Prime Minister Boris Johnson’s government over a financing model for the publicly funded broadcaster.

Global FDI dips, hit by Hong Kong divestment, Brexit: U.N.

Global direct foreign investment (FDI) dipped slightly around the world last year, hit by massive divestment in Hong Kong and a drop in flows into Britain due to Brexit uncertainty, the United Nations said on Monday.

IMF cuts global growth forecasts as India falters, says bottom may be near

The International Monetary Fund on Monday trimmed back its 2020 global growth forecasts due to sharper-than-expected slowdowns in India and other emerging markets but said a U.S.-China trade deal was another sign that trade and manufacturing activity may soon bottom out.

Boeing customer Air Lease says ‘damaged’ MAX brand should be dropped

The chairman of major aircraft leasing firm Air Lease , which has 150 of Boeing’s grounded 737 MAX jet on order, on Monday called on the U.S. manufacturer to drop the “damaged” MAX brand to avoid it undermining the plane’s value.

Global stocks stay near record highs; focus turns to central banks, earnings

World stocks traded just below record highs on Monday, pausing ahead of this week’s central bank meetings, economic data and earnings, while oil prices rose to their highest in over a week after blockades began shutting down two Libyan oilfields.

Key events in Huawei CFO Meng Wanzhou’s extradition case

Meng Wanzhou, chief financial officer of Huawei Technologies Co Ltd, will appear in a Vancouver, Canada, courtroom on Monday for the first day of her extradition trial, a process expected to take months – possibly years – to decide whether she can be extradited from Canada to the United States.

Meng Wanzhou’s freedom on trial as China-U.S. clash plays out in Canada court

Huawei Chief Financial Officer Meng Wanzhou will be in a Vancouver courtroom on Monday for the first day of her extradition trial, a process expected to take months – possibly years – to decide whether she can be extradited from Canada to the United States.

China repeats call on Canada to release Huawei CFO Meng

China repeated its call on Monday for Canada to release detained Huawei Technologies Chief Financial Officer Meng Wanzhou as soon as possible, ahead of the executive’s first extradition hearing later in the day.

Apple’s Cook says global corporate tax system must be overhauled

Everyone knows that the global corporate tax system needs to be overhauled, Apple Chief Executive Tim Cook said on Monday, backing changes to global rules that are currently under consideration.

IMF Slashes Global GDP Forecast For 6th Consecutive Time, Warns “Climate Change” Will Hit Economy

IMF Slashes Global GDP Forecast For 6th Consecutive Time, Warns “Climate Change” Will Hit Economy

After the IMF cut its global economic outlook for 2019 to 2.9% in October, the lowest since the financial crisis, and warned that global trade growth would be “close to a standstill”, moments ago the IMF once again downgraded its forecast for global GDP for 2020 and 2021, its sixth straight reduction, although in a sliver of optimism, global GDP in 2020 is now expected to post a modest rebound from 2.9% to 3.3%, (down from 3.4% in October) and to 3.4% in 2021 (down from 3.6%) as the IMF says “there are now tentative signs that global growth may be stabilizing, though at subdued levels.”

According to the IMF, the downward revision primarily reflects negative surprises to economic activity in a few emerging market economies, most notably India, where 2020 GDP is now expected to rise just 5.8% down from 7.0%, which means that in 2020 China will regain the title of the world’s fastest growing economy. In a few cases, this reassessment also reflects the impact of increased social unrest.

Futures Flat With US Closed For Holiday; Nat Gas Craters

Futures Flat With US Closed For Holiday; Nat Gas Craters

With the US on holiday celebrating MLK Jr. day, volumes around the globe are abysmal and sentiment has seen a modest drift even if the the general market tone has remained upbeat after the signing last week of the US/China Phase 1 trade deal, which helped push Asian shares to 20 months high this morning after US equities last week hit another all-time high on Friday.

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NYT Editors Hedge Their Bets, Endorse Warren & Klobuchar

NYT Editors Hedge Their Bets, Endorse Warren & Klobuchar

Talk about hedging your bets.

After keeping the entire Washington media class waiting on the edge of their seats for hours, the NYT editorial board released its endorsements for the Democratic nomination. And in what the paper described as a “significant break with convention”, the members of its editorial board have selected not one, but two candidates – both of them women.

Its chosen candidates are: Elizabeth Warren, the Republican-turned-progressive who for years posed as a Native American to game America’s system of affirmative action – and Amy Klobuchar, the midwestern senator from the great state of Minneapolis with a reputation for being an unhinged dragon-lady boss.

In keeping with the general level of spectacle and insanity suffusing American politics since the age of Trump, the NYT decided to transform the staid process of making an endorsement into a weeks-long reality-TV-type miniseries, with the paper dribbling out edited interviews with each of the candidates, and publishing episodic updates on its new television spinoff, the Weekly.

The EU Is The Biggest Loser From US-China Agreement

The EU Is The Biggest Loser From US-China Agreement

Authored by Daniel Lacalle via DLacalle.com,

Market participants’ excess of optimism with the trade agreement between the United States and China is clearly exaggerated, once we have the details.

Both the United States and China’s economy have suffered a mild impact from trade disputes. The United States saw a mild slowdown in growth but did not suffer inflationary pressures from the tariffs, while its trade deficit shrunk reduced to the lowest level in 17 months and unemployment is at a minimum of 50 years. In the case of China, the growth of the economy (even adjusted for inflated data) was less affected by the trade war than many feared. Although its exports grew much less than expected, it has been able to increase them somewhat, 0.5% in 2019.

In the trade dispute, it is clear that China has been comparatively worse off. The country had to make an urgent devaluation of the yuan, bail out dozens of domestic entities and their total foreign currency reserves remained flat, barely covering their credit commitments ¦ But, at the same time, China’s trade surplus increased by 25% even if it was mainly due to lower imports.

China has shown an acceptable relative strength but its Achilles heel remains its shortage of dollars. Its apparent huge reserves of 3 billion are not operational due …

IMF slashes India’s FY20 growth forecast by 130 bps to 4.8%

IMF slashes India’s FY20 growth forecast by 130 bps to 4.8%The IMF cut its estimate citing a sharper-than-expected slowdown in local demand and stress in NBFC sector.

India has a plan to lend NBFCs a helping hand

India has a plan to lend NBFCs a helping handIndia is mulling a plan akin to US’ Troubled Asset Relief Program to give NBFCs some headroom to lend.

Soon, you can buy one policy for many cars

Soon, you can buy one policy for many carsICICI Lombard’s floater is an app-based interface that will help link multiple vehicles together & offer coverage.

The Tell: Some big coal players may escape BlackRock’s planned divestment

BlackRock has set out plans to rid its portfolio of coal companies. But for diversified miners that dig up an array of products, it’s not obvious which companies will be axed from the fund management giant’s active funds and which will stay.

Key Words: Man who made a killing during financial crisis says that, at some point, the stock market will slow down ” but, till then, ‘I love riding a horse that’s running’

David Tepper is going to take his horse to the Old Town Road and ride till he can’t no more.

Market Snapshot: Why ‘irrationally bullish’ investors are getting nervous as the stock market races to uncharted territory

Where is this stock market head in the coming days and weeks? That is the trillion-dollar question some nervous strategists, analysts and traders are wrestling with, following a relatively brisk rally for equities to kick off 2020.