9/18 Premarket


●      Inflation didn’t even get past 2% when the U.S. economy was running with a 3.5% pre-pandemic unemployment rate, its lowest in 50 years.

○      created asset inflation but not necessarily broad economic inflation

●      The total value of foreign direct investment and venture capital deals between the U.S. and China fell to a near nine-year low, research and consulting firm Rhodium Group said in a report. 

○      Completed U.S. direct investment into China fell 31% to $4.1 billion, while Chinese investment into the U.S. would have plunged if not for Tencent’s $3.4 billion minority stake in Universal Music

●      Of the 11 major S&P indexes, industrials, materials and energy have gained more than 2% so far this week, while communication and consumer discretionary posted the biggest declines.

○      Asian stocks gained, led by materials and IT, after falling in the last session 

●      France’s daily cases rose by more than 10,000 to the highest since the end of lockdown in May.

●      New York City delayed the reopening of classes for in-person learning until September 29 

●      Bancel added “it is extremely unlikely” everyone in the US could get vaccinated by the end of the first quarter of 2021 

●      despite trillions of interventions and the deceiving highs on indices such as $SPX and $NDX volatility has remained stubbornly high

●      Mark Esper says China is “too far behind” US Navy, will never close the gap

Comments

Post a Comment

Popular posts from this blog

9/23 Premarket

  ●       The S&P 500 broke a four-day slide yesterday, gaining +1.05%, cyclical sectors like Banks (-1.89%), Autos (-1.13%) and Energy (-1.03%) continued to lag. ○       Retail (+3.64%), Media (+2.24%) and Software (+1.94%) all the led the S&P higher as the tech gains saw the NASDAQ rally +1.71% ○       Stay-at-home movement is coming back with further restrictions being seen in Europe.   ●       House passes spending bill to fund government until December 11 ○       $8 billion for nutrition assistance for schoolchildren and families ○       It also adds increased accountability for farm aid money to prevent it from going to large oil companies ○       Dems reaffirmed commitment to $1200 stimulus checks ●       Johnson & Johnson becomes 4th company to enter stage 3 vaccine testing ●       Powell: US Economy could start to decelerate without additional stimulus ○       Appears in front of House Select Subcommittee on the Coronavirus Cri
Read more

9/15 Premarket

  ●       The International Energy Agency on Tuesday cut its forecast for 2020 oil demand growth, citing what it calls a “treacherous” path ahead due to weakening market sentiment and an upsurge in the number of coronavirus cases reported across the globe ●       Morgan Stanley updates outlook to say fiscal stimulus no longer expected before the election ●       Expect the Fed’s forward guidance on interest rates to remain unchanged and for the Committee to reframe their asset purchases as being focused on providing accommodation, not aiding market functioning. ●       Import prices rose 0.9% MoM (well above the 0.5% expected) and Export prices rose 0.5% MoM (also better than the +0.4% expected). But despite both the beats, import and export prices remain underwater on a YoY basis. ●       Citigroup, Wells Fargo to resume job cuts after ending a pledge to pause staff reductions ●       JP Morgan sees drop in productivity from people working at home ●       The Federal
Read more