Written by Gary
DOW joins SP 500, Nasdaq recording new records (SPY +0.3%) as China will slash tariffs on $75 billion in U.S. goods. US weekly jobless claims hit nine-month low; productivity rebounds.
Here is the current market situation from CNN Money | |
 | North and South American markets are mixed today. The Bovespa is up 0.22% while the S&P 500 gains 0.20%. The IPC is off 0.40%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| Stocks rally, safe-haven currencies drop, on China plan to cut tariffsWorld equity markets rallied for a fourth day on Thursday, with a bevy of key stock indexes touching fresh peaks, as news that China will soon cut tariffs on some U.S. goods buoyed risk sentiment and pushed safe-haven currencies lower. |
| U.S. weekly jobless claims hit nine-month low; productivity reboundsThe number of Americans filing for unemployment benefits dropped to a nine-month low last week, suggesting a tightening labor market would continue to keep the longest economic expansion in history on track despite weak business investment. |
| Huawei sues Verizon over patents; Verizon blasts ‘PR stunt’China’s biggest telecommunications equipment maker will square off in court against the No. 1 U.S. wireless carrier over whether Verizon Communications Inc should pay Huawei Technologies Co Ltd for patent infringement. |
| Yum Brands misses sales, profit estimates as Pizza Hut battles rivals; shares dropYum Brands Inc shares fell 4.7% after it reported quarterly same-store sales and profit that missed analyst expectations on Thursday, as stiff competition took a bite out of sales at its Pizza Hut chain in the United States. |
| ICE makes case for eBay talks following earnings reportNew York Stock Exchange owner Intercontinental Exchange Inc (ICE) would “love” to speak with eBay Inc about a potential deal if its management is interested, the company’s chief executive said on Thursday following the release of ICE’s financial results. |
| EU antitrust regulator stresses fair rules as Germany, France call for overhaulEurope’s future must be based on fair competition rules, EU antitrust regulators said on Monday, after Germany and France reiterated calls for a speedy overhaul of the bloc’s rules to help EU companies better compete with U.S. and Chinese rivals. |
| Coronavirus impact on financial markets and economiesFinancial markets appear to be recovering from the damage done in late January by the coronavirus outbreak in China. |
| Twitter notches first $1 billion quarterly revenue, beating estimates; shares jumpTwitter Inc pulled in $1 billion in quarterly revenue for the first time on Thursday, beating expectations as efforts to make its platform more user-friendly brought in more people, and sending its shares up 14% in early trading. |
| Deutsche Bank shares soar after new shareholder steps inDeutsche Bank on Thursday said Los Angeles-based Capital Group has taken a 3.1% stake, boosting shares in Germany’s largest bank which has been hit by losses and misconduct scandals. |
| Market To World: “Be Happy Or Get Punished!”Market To World: “Be Happy Or Get Punished!” Authored by Richard Breslow via Bloomberg, It’s never in good taste to gloat. Although there is a powerful attraction to do so in a competitive environment. Similarly, no one wants to constantly hear grumbling about how wrong things are and how they have personally been mistreated. But that tendency has virtually become a national pastime. Those are the emotions once again being vented by one group or the other while watching the equity markets perform. |
| Watch Live: President Trump Addresses The Nation After Impeachment AcquittalWatch Live: President Trump Addresses The Nation After Impeachment Acquittal After trolling the left with his tweet right after acquittal in the Senate impeachment trial last night, President Trump is set to address the nation at noon ET. < … |
| “What Were We Thinking?”“What Were We Thinking?” Authored by Charles Hugh Smith via OfTwoMinds blog, Will we wonder, what were we thinking? and marvel anew at the madness of crowds? |
| Giga-Stupidity Has No Limits…Giga-Stupidity Has No Limits… Via AdventuresInCapitalism.com, Don’t worry, this isn’t another detailed article on Tesla. I’ve permanently sworn those off. As far as I’m concerned, there are two camps of investors; those who think it’s a fraud and those who aren’t very good at math. However, that doesn’t mean that Tesla cannot be a good long or short at the right moments in time – yeah, I know, hypocrisy; right? Well, at least I recognize it for what it is; TSLA is a ticker symbol without any bearing on the actual business fundamentals. You see, ever since the Federal Reserve stepped in this fall with their œnot QE the last vestigial tethers to fundamental underpinnings have forever been cast adrift. There’s a business in the abstract sense and then there’s the meta-narrative which often seems to derive a lot of its meaning from the stock chart. Since charts are mostly influenced by cross-ownership within ETFs, the circular loop of œup-to-the-right=ETF is forced to increase weighting=up-to-the right can be self-fulfilling. Taking a step back, I have always intuitively known that stocks can literally trade at any price, both far above or below fair value. In fact, the only reason I have been successful in finance, is because of my ability to recognize those moments and monetize them. However, I feel that over the past few years, the range of probabilities has widened dramatically. As David Einhorn put it this summer;
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| 135 bps cut and 365 days later, loans are finally turning cheaper135 bps cut and 365 days later, loans are finally turning cheaperMonetary transmission has turned positive for outstanding rupee loans for the first time since February last. |
| Govt owes Air India Rs 822 cr for VVIP flightsGovt owes Air India Rs 822 cr for VVIP flightsAir India has outstanding dues of over Rs 822 crore towards VVIP charter flights, as per an RTI response. |
| Faster, safer cheque clearing in India soonFaster, safer cheque clearing in India soonThe RBI is now planning to implement a pan-India Cheque Truncation System from September 2020. |
| 4Q2019 Preliminary Headline Productivity ImprovedWritten by Steven Hansen
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| Market Extra: Lenders are getting a barrage of questions about likely fallout from tighter New York rent capsCommunity banks that help finance rent-regulated New York apartments are fielding a battery of questions from analysts asking about the potential fallout to their loan portfolios seven months after sweeping tenant protections took hold. |
| NewsWatch: Dow joins S&P 500, Nasdaq at records as China says it will slash tariffs on $75 billion in U.S. goodsStocks head higher Thursday, setting the stage for a fourth straight day of gains as focus shifts from the rising death tolls from coronavirus to fresh developments in trade between China and America. |
| Market Snapshot: Dow joins S&P 500, Nasdaq at records as China says it will slash tariffs on $75 billion in U.S. goodsStocks head higher Thursday, setting the stage for a fourth straight day of gains as focus shifts from the rising death tolls from coronavirus to fresh developments in trade between China and America. |
A simple summary of the headlines for this release is that labor costs are growing as fast as productivity on a quarter-over-quarter basis..Earnings Summary for Today
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