I Read The News So You Don’t Have To – Market News (January 10, 2019)

by ogordained

 

UNITED STATES

  • Futures are down slightly
  • Donald Trump met with Nancy Pelosi and Chuck Schumer in an attempt to resolve the government shutdown.
    • Trump walked out of the meeting after they said they weren’t going to fund a border wall
  • The FOMC Minutes revealed a dovish Fed that’s readying to pause rate hikes
  • The Dow and the S&P 500 both posted their best 10-day performance since July 2009

OTHER

  • Oil prices entered a bull market, rallying 5.2% yesterday to a nearly four-week high
  • Nicolás Maduro will be inaugurated for as Venezuela’s president today.
    • Polls show 80% of Venezuelans oppose him
    • Governments across Latin America have issued a statement saying that as of January 11th they will no longer regard Maduro as Venezuela’s legitimate president
  • The advocate-general of the European Court of Justice will publish comments on a case that pits Googleagainst CNIL, France’s data-protection regulator.
    • At issue is the geographical scope of the “right to be forgotten
    • Google argues it should remove links only from its European websites
    • the CNIL argues that the delisting must be global
    • If Google loses, rules passed by the EU would have to be applied across the world
  • French Consumer Confidence has fallen steeply amid the yellow vests protests
  • Eurozone Unemployment fell below 8% for the first time in years
  • Ford will cut thousands of jobs in Europe — part of  a $14bn cost-cutting drive
    • Reports also suggest that Ford is in talks with Volkswagen about forming a global alliance

CHINA

  • Car sales fell last year for the first time since 1990
  • Inflation is falling (Actual 1.9% | Expected 2.1%)
    • Falling inflation gives the Peoples Bank of China more room to ease

 

218 views