Breaking news, updates, and reports on current events.
via @Schuldensuehner: #WeWork filed confidentially w/ the Securities and Exchange Commission in Dec. Shared office provider was last valued at $47bn. https://www.wsj.com/articles/wework-files-for-initial-public-offering-11556566087 …
via @staunovo: IMF’s latest fiscal break even oil prices: -Saudi Arabia USD 85/bbl -U.A.E. USD 65/bbl -Iraq USD 64/bbl -Kuwait USD 49/bbl -Iran USD 126/bbl
What is going on with Tesla in China? Global Times (aka the Chinese Communist Party) reports on “Chinese car hailing company demands compensation from Tesla in Times Square, NYC” According to information released by the company, Shenma Zhuanche is the biggest buyer of Tesla cars in the Asian Pacific region, having purchased 278 vehicles from … Read more
via CNBC: Federal Reserve economists have floated the idea of a “standing repo facility” which would allow banks to exchange Treasurys for reserves. The idea would be to get banks to hold fewer reserves, and thus would help the Fed in its quest to shrink its balance sheet. There’s considerable support for the plan, but … Read more
via CNBC: Economic forecaster Lakshman Achuthan is warning Wall Street that the market’s new highs don’t signal a revitalized growth cycle. Achuthan, co-founder of the Economic Cycle Research Institute, believes it’s not an ideal environment for sustainable gains. “All the optimism is really in these risk-on assets,” he said Wednesday on CNBC’s “Trading Nation. ” … Read more
via CNN: London (CNN Business)Deutsche Bank is in rough shape and its leadership has gone silent on their plans for the future. First quarter results from Germany’s largest bank on Friday showed that revenue is falling faster than costs, one day after merger talks with crosstown rival Commerzbank (CRZBF) were called off. Yet CEO Christian Sewing has been … Read more
From Wall Street Journal: Uber and Lyft each provide substantial discounts and incentives to riders, which subsidize the cost of trips and encourage usage. But they don’t account for these amounts in their sales numbers. Instead they categorize them as marketing expenses. That inflates reported gross profits and distorts common analyses of the companies’ unit economics. … Read more
LOS ANGELES (CNS) — The median price of a Los Angeles County home rose by 2.1 percent in March, compared to the same month a year ago, despite median prices across Southern California dropping for the first time in seven years, according to figures released Friday. According to the CoreLogic real estate information service, the … Read more
via themarketear: Wilson´s worried: 1. We do not change our broader call for a multi-year trading range of 2400 – 3000 for the S&P. With valuations at the high end of fair value and continued conviction that earnings estimates still need to be lowered, we would avoid betting on a melt up 2. The high … Read more
https://finance.yahoo.com/news/vanguard-drops-hammer-etf-fee-143705599.html On April 26, Vanguard said it’s lowering fees on 21 of its ETFs, including its two largest funds, the Vanguard S&P 500 ETF (NYSE: VOO) and the Vanguard Total Stock Market ETF (NYSE: VTI). VTI and VOO are the third- and fourth-largest U.S.-listed ETFs, respectively, and are two of the four ETFs with more than $100 billion in … Read more
Record valuations and leverage alone do not make a market top. Add macro timing: -Faltering consumer confidence-Liquidity drying up-Negative economic surprises-EPS growth deceleration-Yield curve inversions-Extreme VIX short-China shocks to comehttps://t.co/9DrQo35QlK — Kevin C. Smith, CFA (@crescatkevin) April 26, 2019 The recipe for a hard landing: Historical global debt imbalances.Record overvalued assets prices.Faith in central banks … Read more
via bigthink: 62 percent of cancer patients report being in debt due to their treatment. 55 percent accrue at least $10,000 in debt, while 3 percent file for bankruptcy. Cancer costs exceed $80 billion in America each year. Rebecca Meyer was diagnosed with glioblastoma when she was 5 years old. She fought bravely for 10 months … Read more
Savings rate plunges as more people spend their money. People are using their savings, plus credit cards to spend. The experts were wrong again, the shutdown did not collapse the economy. Trump has changed the laws regarding Dodd-Frank and the Volker Rule and the [CB] refuses to follow the new law. IMF warns of slow … Read more
via readynutrition: Since flood season is upon us, and it’s “unprecedented” this year, it could be helpful to learn how to gain some knowledge and learn to survive a flash flood. If you get caught in your car in a flash flood, knowing the proper steps to take could save your life and the lives of anyone else … Read more
by Martin Armstrong Chicago still just got 2.5 inches of snow cancelling numerous flights. Snowing this late in the season is concerning on our models. As I have warned, the winters will get longer and the summers shorter. This can cause severe reduction in the production of food in the years ahead. The snow over the weekend … Read more
Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter The surprise in the SEC 10-Q filing when no one was supposed to pay attention. Today, when no one was supposed to pay attention any longer, Tesla filed its quarterly report Form 10-Q with the SEC. Tesla had reported “earnings” on April 24, a doozie of a net loss of $702 million. But … Read more
by Jeff Thomas “There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.” – Ludwig … Read more
Judge wants Foxx to explain the irregularities in the Smollett case. The 2020 Presidential race has begun and the it is filled with corrupt politicians. MSM pushing the idea that people are not going to vote for Trump in the next election. Trump baits the [DS] and it works, they are all out their panicking … Read more
by Troy The S&P 500 has officially made a new all-time high on an intraday HIGH basis. Meanwhile, many traders and pundits have claimed that the stock market rally “doesn’t make any sense”, because so many factors are “diverging from it”. Go here to understand our fundamentals-driven long term outlook. Let’s determine the stock market’s most … Read more