I Read The News So You Don’t Have To – Market News (January 29, 2019)

by ogordained

UNITED STATES

  • Futures are flat ahead of Apple’s earnings announcement after market close
    • Amazon and Microsoft will be particularly susceptible to any bad news
  • Apple is working to fix a glitch FaceTime which allows users to listen to the recipient before they have answered a call
  • America’s envoy to Afghanistan said the US and the Taliban have forged a draft framework for ending their 17-year war
  • PG&E has filed for bankruptcy, they’ve been resilient in the face of disaster before
    • 1996: Let’s toxic wastewater into groundwater supplies – settles lawsuit for hundreds of millions of dollars
    • 2001:  Declares bankruptcy after the state mismanaged deregulation of the electricity market.
    • 2010: Gas pipeline explodes.
  • The Federal Reserve‘s Federal Open Market Committee begins a two-day policy meeting today, with a decision on interest rates due Wednesday
    • They’re not expected to take any action
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OTHER

  • The House of Commons will vote on Brexit measures today
    • Some proposed amendments would constrain Theresa May’s government
    • One tries to stop Britain leaving the EU without a deal on March 29th by requiring the government to ask the EU to extend the deadline
  • Eurozone Loan Growth remains stable (4% YoY to Businesses / 3.3% YoY to Households)
  • America imposed sanctions on PDVSA, Venezuela’s state oil company, to cut off foreign money to Nicolás Maduro’s government
  • Australian Auto Loan delinquencies are on the rise and business confidence has plummeted over the last few months
  • Exports out of Hong Kong contracted much sharper than anticipated (Actual -5.8% | Expected -1.7%)
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CHINA

  • The US filed criminal charges against Huawei for stealing trade secrets, obstructing justice and violating sanctions against Iran
  • The US and China are to resume two days of trade talks tomorrow
  • Industrial profits continue on their contractionary course