Written by Gary
US major indexes rally a day after falling to their lowest in more than a year. SPY higher SPY +1.7% extending the coronavirus rebound.
Here is the current market situation from CNN Money | |
 | North and South American markets are sharply higher today with shares in Mexico leading the region. The IPC is up 1.96% while U.S.’s S&P 500 is up 1.70% and Brazil’s Bovespa is up 1.23%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| Defense aircraft demand lifts U.S. factory orders; underlying softness remainsNew orders for U.S.-made goods increased by the most in nearly 1-1/2 years in December, flattered by robust demand for defense aircraft, but persistently weak business spending on equipment pointed to limited scope for a sharp rebound in manufacturing. |
| Ferrari tempers 2020 expectations with cautious upgradeDemand for Ferrari’s Portofino and 812 Superfast models helped the Italian supercar maker hit last year’s profit targets though it only provided a cautious upgrade to its outlook for 2020. |
| Exclusive: iPhone app makers questioned in U.S. antitrust probe of Apple – sourcesThe U.S. Justice Department has reached out to app developers as part of its investigation into Apple Inc , one of the four big tech companies being probed for alleged anti-competitive behavior, according one of the developers and another person familiar with the investigation. |
| Wall Street rallies as China measures ease virus fearsU.S. stocks surged on Tuesday and the S&P 500 and Nasdaq were on pace to unwind losses from last week as fears of a heavy economic impact from the coronavirus epidemic tapered off after China’s central bank intervened for the second day. |
| Tesla up 20% after Panasonic posts first quarterly profit at battery businessTesla Inc’s stock surged 20% on Monday in its largest one-day gain since 2013, fueled by a quarterly profit at Panasonic’s battery business with the U.S. car maker and an investor report predicting its shares would rise more than ten-fold by 2024. |
| Another day, another record: Tesla shares march toward $1,000Shares of Tesla Inc surged 20% on Tuesday to hit $940, extending a stunning rally that has more than doubled the company’s market value since the start of the year as more investors bet on Chief Executive Elon Musk’s vision. |
| Oil rebounds on prospect of bigger OPEC+ supply cutsOil prices bounced on Tuesday a day after falling to their lowest in more than a year, edging up on hopes that more cuts in crude production from OPEC and its allies would offset demand destruction related to the coronavirus outbreak. |
| Stocks surge, oil rebounds on China virus effortsCrude oil prices rebounded and global equity markets surged on Tuesday as China’s efforts to minimize the economic impact from the coronavirus epidemic spurred investors’ risk appetite. |
| U.S. Federal Reserve bars Goldman Sachs executive from industry for role in 1MDB scandalThe U.S. Federal Reserve announced Tuesday it had permanently barred Goldman Sachs executive Andrea Vella from the banking industry for his role in Malaysia’s 1MDB scandal. |
| Tech Firm Whose Half-Baked App Cocked Up Iowa Results Run By Ex-Clinton, Obama StaffTech Firm Whose Half-Baked App Cocked Up Iowa Results Run By Ex-Clinton, Obama Staff An app developed by a Democratic digital nonprofit group that botched the Iowa caucus results is run by former staffers for Hillary Clinton’s 2016 campaign, Obama’s presidential campaign, as well as Google, Apple and former DNC employees. The app was created by Shadow, Inc., which was acquired in January 2018 by the nonprofit, ACRONYM and paid $60,000 by the Democratic Party for “website development” – which, according to the Huffington Post, was used to develop the app which caucus site leaders were supposed to use to upload the results at their locations. According to the Post, Shadow CEO Gerard Niemira, COO James Hickey and product manager Ahna Rao worked together on the Hillary for America campaign. |
| WHO Chief Praises China’s “Forceful Measures”, Blasts Rest-Of-World For Causing “Fear & Stigma”WHO Chief Praises China’s “Forceful Measures”, Blasts Rest-Of-World For Causing “Fear & Stigma” In yet another stunning statement from the Director-General of the World Health Organization, up is down, war is peace, and caution is dangerous. Having once again earlier denied that the novel coronavirus is a ‘pandemic’, saying instead that it’s an epidemic with “multiple foci,” and with people dropping down dead on the streets in China (and being forced into ambulances), WHO Director-General Tedros reiterated his previous stunning praise for China’s “forceful measures” to halt the spread of the virus. However, a member of the World Health Organization’s emergency committee on coronavirus has accused China of not reporting cases fast enough in the early stages of the outbreak last month, raising fresh questions about Beijing’s response to the health emergency. John Mackenzie, emeritus professor at Curtin University, said it defied logic that there was no increase in new cases at the same time that Chinese officials were holding local political meetings in January.
|
| A Failed Coup Of A Failing EstablishmentA Failed Coup Of A Failing Establishment Authored by Patrick Buchanan via Buchanan.org, It has been a bad few days for the establishment, really bad. |
| Hyundai, Kia Factories Crippled In South Korea As Part Suppliers In China Remain ClosedHyundai, Kia Factories Crippled In South Korea As Part Suppliers In China Remain Closed A globalized world is full of complex supply chains that wind in and out of countries. When one country goes offline, the chain breaks, and that’s exactly what’s happening in Asia. Yonhap News reports that Hyundai Motor Co. and its sister Kia Motors Corp. suspended production lines in South Korea after it was hit with a parts shortage from China as the coronavirus outbreak continues to leave entire manufacturing hubs shut down. |
| China’s coronavirus could play into its trade war with the USChina’s coronavirus could play into its trade war with the USSuch outbreaks flourish thanks to one factor: international trade, the original pandemic superhighway. |
| 10% TDS applicable only on MF dividends10% TDS applicable only on MF dividendsCurrently, the onus of declaring capital gains for taxation lies with the investor or unit-holders. |
| MCA orders inspection of Zee’s booksMCA orders inspection of Zee’s booksIn November, two non-exec directors – Subodh Kumar and Neharika Vohra ” had alleged governance lapses. |
| December 2019 Headline Manufacturing New Orders ImprovedWritten by Steven Hansen
|
| The Ratings Game: Ralph Lauren has closed about half of its stores in China due to the coronavirusRalph Lauren says it has closed about half of its stores in China, but its exposure to the region is small. |
| Outside the Box: 9 things companies should be doing to avoid creating a toxic workplaceShareholders must ensure that management builds employee morale and a company’s value, writes Ann Skeet. |
| Tesla ‘casino’ lures back famed short sellerAndrew Left of Citron Research on Tesla Inc. stock: ‘Whoever bought it at these prices has to flush it.’ |
US Census says manufacturing new orders improved month-over-month. Our analysis shows the rolling averages improved but remaining in contraction,Earnings Summary for Today
leading Stock Positions
Current Commodity Prices
Commodities are powered by Investing.com
Current Currency Crosses
The Forex Quotes are powered by Investing.com.
To contact me with questions, comments or constructive criticism is always encouraged and appreciated:
