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U.S. Stocks are Looking to End the Week at All-Time Highs as Futures Rise #Futures #Housing #China

U.S. stocks are looking to end the week at all-time highs as futures rise. U.S. futures got a boost this morning after the latest look at housing starts showed a 16.9% rise in December, well above estimates. Building permits in December fell 3.9% after a strong November reading. Later this morning markets will get a look at industrial production from December, a preliminary look at consumer sentiment in January and job openings from November. European stocks are higher with materials stocks leading on strong gains. On the data front, euro zone inflation rose slightly in December to 1.3%. Asian markets closed higher after China reported in line GDP results from 2019, rising 6.1% despite trade tension.

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U.S. Stock Futures are Holding Gains After Data #Jobless #RetailSales #Exports

U.S. stock futures are holding gains after data. The Commerce Department reported that retail sales rose 0.3% in December, however, ex-auto and gas sales rose 0.5% as the 1.5% decline in auto sales weighed on results. Weekly jobless claims fell 10,000 last week to 204,000. In other data, import prices rose 0.3% in December, while export prices fell 0.2%. Later this morning markets will get a look at business inventories from November and housing market conditions for January. European stocks are mostly lower with automotive stocks lagging and utility stocks leading. Asian shares closed mostly higher with Chinese shares lagging the region.

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19 Hits

U.S. Stocks are Slightly Lower as the U.S. and China Prepare to Sign a Phase One Trade Deal #Futures #China #TradeDeal

U.S. stocks are slightly lower as the U.S. and China prepare to sign a phase one trade deal. According to Treasury Secretary Steven Mnuchin, most tariffs will remain after the phase one deal and will be removed in phases with additional agreements. As part of the deal, China is expected to purchase $200B ($80B manufactured goods, $53B energy, $32B agriculture, $35B services) in U.S. products/services over two years. On the data front, mortgage applications surged last week, rising 30.2% as refinancing applications surged. According to the Bureau of Labor Statistics, producer prices rose 0.1% in December and 1.3% y/y. The rise in producer prices ex-energy also rose 0.1% in December, however, the 1.1% y/y rise was well below forecasts of 1.4%. The January Empire State manufacturing survey came in slightly above expectations in January at 4.8. European stocks are mostly lower with automotive stocks lagging and healthcare stocks leading. Germany reported that 2019 GDP rose 0.6%, the weakest reading in six years. Asian shares closed mostly lower ahead of the signing of the U.S./China phase one trade deal.

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U.S. Stock are Down as Reporting Season Begins #Earnings #Financials #China

U.S. stock are down as reporting season begins. Earnings season is starting on a positive note with strong earnings from Citi, JPMorgan and Delta, however, Wells Fargo missed expectations. On the data front, December consumer prices rose 0.2% m/m and 2.3% y/y, mostly in line with expectations. European stocks are mixed with telecom stocks leading and energy shares lagging. Asian markets closed mixed with Chinese shares lagging the region. Chinese imports from the U.S. rose in November and December as soybean and pork imports rose. China had a $23.18B trade surplus with the U.S. in December, down from $24.6B in November.

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32 Hits

U.S. Stock Futures are Higher as Earnings Season Begins #Earnings #Banks #TradeDeal

U.S. stock futures are higher as earnings season begins. Earnings season kicks into gear this week as several banks are set to report earnings. Banks reporting this week include JPMorgan, Citi, Wells Fargo, Bank of America, Goldman Sachs and more. On Wednesday of this week the U.S. and China are scheduled to sign the phase one trade deal, reducing tariffs on some Chinese products while the Chinese are expected to increase agriculture purchases. European markets are mixed with technology stocks leading and automotive stocks lagging. Asian shares closed mostly higher with Chinese stocks leading.

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24 Hits

U.S. Stocks are Trying to Hold Gains After Data #JobsReport #Unemployment #Wages

U.S. stocks are trying to hold gains after data. Nonfarm payrolls rose 145,000 in December, slightly below expectations of 160,000. Job gains were led by the retail, leisure & hospitality and health care sectors, while manufacturing, transportation, warehousing and mining saw job losses. The unemployment rate was unchanged at 3.5%, however, average hourly earnings were weaker than expected rising 0.1% for the month and 2.9% yoy. European stocks are mixed with strength in the German DAX. Asian markets closed mostly higher with strength in technology stocks.

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31 Hits

U.S. Stock Futures are Higher Adding to Wednesday’s Gains #Futures #MiddleEast #Iran

U.S. stock futures are higher, adding to Wednesday’s gains. U.S. stocks are gaining, adding to yesterday’s relief rally as Middle East tensions subside. Lack of U.S. retaliation and the thought that Iran has stood down, has investors relieved. On the data front, the Labor Department reported that weekly jobless claims fell to 214,000 last week, below expectations of 220,000. European shares are higher with technology stocks leading higher. Asian stocks closed sharply higher with the Japanese Nikkei 225 leading the region after lagging in recent sessions.

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25 Hits

U.S. Stock Futures are Higher After a Wild Overnight Session #Iran #Trump #ADP

U.S. stock futures are higher after a wild overnight session. Overnight, stock futures dropped in excess of 1.5% with gold rising 2% and oil rising 4% on news that Iran had launched missiles toward U.S. forces in Iraq. After assessment of the details of the attack, the reality that there were no casualties nor attacks on oil infrastructure, markets began to rise and gold and oil retreated. President Trump is expected to make a statement this morning about the attack and the expected U.S. response. Helping markets get a boost this morning was a stronger than expected ADP private payroll report, rising 202,000 in December. In other data, mortgage applications fell slightly last week as the increase in purchases was more than offset by the decline in refinancing. European stocks are also turning positive as overnight tensions ease, with the German DAX leading higher. Asian markets closed lower, with Japanese stocks leading the losses, as tensions remained elevated at the close of Asian trade.

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37 Hits

U.S. Stock Futures are Flat as Markets Digest Latest Geopolitical Risks #Futures #Iran #TradeDeficit

U.S. stock futures are flat this morning as markets digest latest geopolitical risks. Iran is said to be evaluating 13 scenarios of retaliation against the U.S., with the weakest of which would be a “historic nightmare” according to the head of Iran’s national security council. President Trump has warned Iran that the U.S. has 52 targets selected in the event that Iran retaliates. On the data front, the trade deficit narrowed in November to $43.1B, beating expectations of -$43.9B. Later this morning markets will get a look at factory orders from November and the ISM non-manufacturing index from December. European stocks are higher after trading lower for the past two sessions, with technology stocks leading. Asian markets closed higher with Japanese stocks leading the region.

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35 Hits

U.S. Stock Futures are Lower as Middle East Tensions Rise #Iran #Oil #PMI

U.S. stock futures are lower as Middle East tensions rise. Concerns over a possible Iranian retaliation has investors taking caution with stocks falling and gold rising. Over the weekend Iraq called for all foreign troops to leave the country, which President Trump said he will not do without repayment for the multi-billion dollar airbase that we built. On the data front, later this morning markets will get a look at the PMI services index from December. European stocks are lower, with auto stocks leading the declines, at geopolitical tensions rise. Euro zone composite PMI rose slightly in December to 50.9 from 50.6 in November. Asian stocks closed mostly lower with Japanese stocks lagging the region.

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45 Hits

U.S. Stock Futures are Lower After the U.S. Confirm Air Strike on Iranian Military Commander #Futures #Iran #Oil

U.S. stock futures are lower after the U.S. confirmed an air strike on Iranian military commander. U.S. stocks dropped while oil and gold are rising as geopolitical tensions rise. The U.S. confirmed that that U.S. forces killed Iranian General Qasem Soleimani in an airstrike in Iraq. Questions over the type and extent or an Iranian retaliation has investors concerned. On the data front, later this morning markets will get a look at ISM manufacturing index from December, construction spending from November and the FOMC minutes from the December policy meeting. European stocks are lower on the increased geopolitical tensions with auto stocks lagging while energy stocks leading. Asian shares closed mostly lower with Japanese stocks lagging the region.

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297 Hits

U.S. Stocks Futures Gain to Start the New Year #Futures #PMI #Manufacturing

U.S. stocks futures gain to start the new year. Stocks are looking to build on 2019 gains, as futures drift higher. On the data front, weekly jobless claims fell 2,000 to 222,000, in line with forecasts. Later this morning markets will get a look at manufacturing PMI from December. European shares are higher, with bank stocks leading the gains, despite weaker than expected manufacturing PMI in December. Asian shares closed mostly higher with Chinese stocks leading as survey data showed an improvement in manufacturing activity in December.

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60 Hits

U.S. Stocks are Drifting Higher on the Final Trading Day of 2019 #Economy #Investing #SP500

U.S. stocks are drifting higher on the final trading day of 2019. The S&P 500 is looking to end 2019 with the strongest one-year performance since 2013, led by strong performance from technology stocks. On the data front, home prices rose 2.2% y/y in October and later this morning investors will get a look at consumer confidence from December. European markets are also lower on the final trading day of the year. Germany and Swiss markets are closed today. Asian shares closed mostly lower, however, Chinese stocks rose on better-than-expected December PMI in China.

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79 Hits

U.S. Stock Futures are Slightly Higher to Start the Final Week of Trading in 2019 #TradeDeficit #Inventories #PMI

U.S. stock futures are slightly higher to start the final week of trading in 2019. The U.S. trade deficit narrowed more than expected in November to $63.2B as exports rose 0.7% while imports fell 1.3%. Wholesale inventories were unchanged in November against expectations of a 0.2% rise. Later this morning, markets will get a look at Chicago PMI from December and pending home sales from November. European shares are lower with most sectors trading lower. Asian shares closed mixed with Japanese shares lagging in their final trading day in 2019.

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43 Hits

U.S. Stocks Gain as Year End Rally Continues #Investing #SP500 #NASDAQ

U.S. stocks gain as year-end rally continues. The S&P 500 needs to add less than 0.5% by year-end to make 2019 the best one-year return since 1997 when the index rose 29.6%. The strong 2019 gains have been led by technology shares with the tech-heavy Nasdaq up nearly 36% in 2019. There is no economic data scheduled for release today in the U.S.. European stock are gaining with material stocks leading and consumer defensive stocks lagging. Asian stocks closed mixed with Japanese shares lagging after retail sales disappointed in November.

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53 Hits

U.S. Stocks are Higher as New All-Time Highs Continue to Pile Up #Stocks #SPX #NASDAQ

U.S. stocks are higher as new all-time highs continue to pile up. The Nasdaq has recorded nine consecutive record high closes as stocks surge into year-end. On the data front, mortgage applications fell 5.3% last week as both new purchases and refinancing fell. Weekly jobless claims fell 13,000 last week to 222,000, in line with estimates. Most European markets are closed today on holiday. Asian shares closed mostly higher with China’s Shanghai leading the region. Markets in Hong Kong and Australia remained closed on holiday.

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72 Hits

IRA Changes You Should Know About – Secure Act 2019

Setting Every Community Up for Retirement Enhancements Act of 2019, better known as the SECURE Act, was signed into law on December 20th, 2019. There are many aspects to the new bill, but for purposes of this summary, we will focus on the required minimum distribution (RMD) age being increased to 72 and changes to inherited IRA distribution rules.

 

  • Required Minimum Distribution (RMD): The bill changes the age at which individuals need to begin taking their required minimum distribution from the year they turn 70 ½ to now age 72. This applies to individuals that are not 70 ½ by December 31st, 2019. For anyone who turned 70 ½ up to and including December 31st, 2019, they are under the old rules and must continue to take their RMDs, but if you obtain the age of 70 ½ after December 31st, 2019, then you’re not required to start calculating and taking your RMD until age 72.

 

  • Inherited IRA Distribution Rules: For individuals who inherited an IRA prior to January 1st, 2020, no changes to current distribution schedules are required. However, for individuals that inherit an IRA from an individual who passed away after December 31st, 2019 fewer beneficiaries will be able to extend distributions from the inherited IRA over their lifetime. Commonly referred to as a “stretch IRA” will no longer be available unless you meet certain exceptions. The bill now requires beneficiaries withdraw all assets from the inherited IRA within 10 years following the death of the original account holder who passed away after December 31st, 2019. Exceptions to the 10-year distribution requirement include assets left to a surviving spouse, a minor child, a disabled or chronically ill individual and beneficiaries who are less than 10 years younger than the decedent.

 

Exploring estate and tax strategies is more important than ever. Feel free to contact United Asset Strategies to get answers to questions regarding the new Secure Act and request an appointment for the New Year!

 

 

Erin Gibbons, Senior Financial Planner

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80 Hits

U.S. Stock Futures are Higher Ahead of Abbreviated Session #Futures #Holidays #Stocks

U.S. stock futures are higher ahead of abbreviated session. U.S. stock markets will close at 1pm today and will be closed tomorrow on holiday. Markets will likely see a low volume session as many market participants get a head start on the holidays. Later this morning markets will get a look at the Richmond Fed manufacturing survey from December. Richmond Fed estimates are for a slight rise to 1 as the survey has struggled to stay positive. European stocks closed mixed in a holiday shortened session. Asian shares closed mixed with Chinese stocks outperforming the region.

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56 Hits

U.S. Stock Futures are Holding Gains Despite Weaker Data #Futures #Tariffs #DurableGoods

U.S. stock futures are holding gains despite weaker data. Durable good orders fell 2.0% in November, while the consensus estimate was for a rise of 1.5%. The decline in new orders was largely influenced by weaker commercial aircraft orders as orders ex-transportation were unchanged. Later this morning markets will get a look at new home sales from November. European shares are mixed with finance stocks lagging and healthcare stocks leading. Asian markets closed mixed on Monday with weakness in Chinese stocks after China announced a reduction in tariffs on over 800 products come January 1st.

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55 Hits

U.S. Stock are Higher Ahead of Quadruple Witching Trading Session #Volatility #Options #GDP

U.S. stock are higher ahead of quadruple witching trading session. Markets may see more than usual volatility and volume as the expiration of options and futures on stocks and indexes all expire today for December expiration. In the absence of a 1% decline, markets will record their fourth consecutive week of gains, contained within ten of the past eleven weeks of higher closes for the S&P500. On the data front, the final look at Q3 GDP was in line with estimates at 2.1%. Later this morning markets will get a look at personal income and spending from November and the final look at consumer sentiment from December. European shares are higher with autos leading. On the European data front, U.K. Q3 GDP rose 0.4%. Asian shares closed mixed with Japanese shares lagging as auto stocks fell on the passage of the US-Mexico-Canada trade deal which requires 75% of auto parts to come from North America.

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63 Hits

U.S. Stocks Shrug Off House Impeachment #Futures #Trump #Economy

U.S. stocks shrug-off House impeachment. U.S. stocks are mixed this morning after the House of Representatives voted to impeach President Trump on two charges. The markets have been unphased by the news as there is a high degree of confidence that the Republican Senate will acquit him early next year. On the data front, jobless claims fell by 18,000 to 234,000 last week, however, was still above expectations of 221,000. The Philadelphia Fed business outlook survey was much worse than expected in December, coming in at 0.3, against expectations of 8.5 in December. Later this morning the market will get a look at existing home sales from November. European stocks are mostly lower with automobile stocks lagging. Sweden ended five years of negative rates and raised their repo rate to 0%, while the BOE held rates steady at 0.75%. Asian shares closed mostly lower across the region. The BOJ kept monetary policy unchanged in their most recent meeting that concluded today.

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76 Hits

U.S. Stocks are Slightly Higher After Record Closing High #Stocks #SPX #Brexit

U.S. stocks are slightly higher after record closing high. While stocks closed off the highs from Tuesday morning, they still managed to close at new all-time highs. On the data front, weekly mortgage applications fell 5% last week as both refinancing and new purchases declined. European stocks are mostly higher with energy stocks leading, despite rising risk of no-deal Brexit. British PM Boris Johnson will look to amend the Brexit deal requiring the transition be completed by December 2020, without extension. Asian shares closed mostly lower with Japanese stocks lagging the region.

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59 Hits

U.S. Stocks Futures are Slightly Higher After Data #Futures #Economy #Housing

U.S. stocks futures are slightly higher after data. Housing starts and permits rose 2.4% and 1.4%, respectively in November, both stronger than expected. Later this morning markets will get a look at November industrial production and job openings/labor turnover from October. European shares are mostly lower with the German DAX lagging the region. Asian shares closed mostly higher with Chinese shares leading the region.

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76 Hits

U.S. Stock Future Rise to Start the Week #TradeDeal #Manufacturing #PMI

U.S. stock future rise to start the week. Stock are extending last week’s gains as progress toward a trade deal has lifted sentiment. On the data front, the NY state manufacturing survey was better than expected in December. Later this morning markets will get a look at flash composite PMI and housing market conditions for December. European shares are higher with basic material stocks leading. On the data front, euro area flash composite PMI rose in line with expectations. Asian shares closed mixed despite better than expected better than expected industrial production numbers in China.

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303 Hits

U.S. Stock Futures are Holding Gains After a Volatile Morning Session #TradeDeal #China #BorisJohnson

U.S. stock futures are holding gains after a volatile morning session. Stock futures have been volatile after mixed messages surfaced regarding the status of a done deal. Reports that China’s Commerce Ministry will hold a press conference at 9:30am to discuss trade talks has settled markets for the time being. On the data front, retail sales rose less than expected in November, while import and export prices rose in line with estimates. Later this morning markets will get a look at business inventories from October. European stocks are higher on trade progress and more clarity on Brexit after Prime Minister Boris Johnson’s Conservative party won a big election, now holding the largest majority since 1987. Labour party leader Jeremy Corbyn will likely step down after the defeat and Brexit should move forward. Asian stocks closed higher on trade news with Japan and Hong Kong stocks rising in excess of 2%.

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78 Hits

U.S. Stock Futures are Off the Highs After Data #Jobless #Inflation #ECB

U.S. stock futures are off the highs after data. Weekly jobless claims rose more than expected last week, rising 49,000 to 252,000. On the inflation front, producer prices were weaker than expected in November coming in unchanged against expectations of a 0.2% rise. European stocks are mixed, giving up early gains after the ECB left rates unchanged. Investors will be closely watching new ECB President, Christine Lagarde, in her first press conference to look for clues on future policy decisions. Asian shares closed mixed with Hong Kong’s hang Seng leading the region on strength in technology shares.

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66 Hits

U.S. Markets are Mixed Ahead of Fed Decision #Futures #FOMC #CPI

U.S. markets are mixed ahead of Fed decision. Later this afternoon, markets will get a look at the Fed’s latest policy decision with a press conference to follow. It is widely expected that there will be no change in rates at the current meeting, however, markets will look for updates on future policy decisions. On the data front, weekly mortgage applications rose 3.8% last week on strength in refinancing. Additionally, the Department of Labor reported that consumer prices rose about in line with expectations, rising 0.3% in November and 2.1% y/y. European stocks are also mixed as investors seem hesitant to act ahead of the U.S. Fed announcement. Asian shares closed mostly higher; however, Japanese stocks lagged the region.

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74 Hits

U.S. Stock Futures are Higher After a Strong Jobs Number #Economy #JobsReport #Unemployment

U.S. stock futures are higher after a strong jobs number. The Labor Department reported that the economy added 266,000 nonfarm payrolls in November, well ahead of the 180,000 estimate. The strong number pushed the unemployment rate down slightly to 3.5%, however, the strong growth has not had a major impact on wages as average hourly earnings rose less than expected. Later this morning markets will get a preliminary look at consumer sentiment for December. European stocks are higher, with all sectors moving higher, despite weaker industrial output in Germany. Asian stocks closed higher with Chinese stocks leading.

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87 Hits

U.S. Stock Futures are Holding Gains After Data #TradeTalks #TradeDeficit #Jobless

U.S. stock futures are holding gains after data. Futures got a boost early this morning after the Chinese Commerce Ministry spokesman reiterated that the U.S. and China continue to communicate on trade and that they believe that if a phase one deal is agreed upon, tariffs would need to be lowered. On the data front, the trade balance narrowed more than expected in October to -$47.2B. Jobless claims fell 10,000 last week to 203,000, beating expectations of 218,000. Later this morning markets will get a look at factory orders from October. European stocks are mixed after German factory orders fell more than expected in October. Asian shares closed mostly higher, led by Australian stocks after two days of losses.

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81 Hits

U.S. Stock Futures are Holding Gains Despite Weaker Data #ADP #PMI #ISM

U.S. stock futures are holding gains despite weaker data. The November read of private payroll growth was well below estimates according to ADP. ADP reported that private payrolls rose 67,000 in November, while analyst estimates were in the range of 150,000. Mortgage applications fell 9.2% last week as slight gains in purchases was more than offset by weakness in refinancing. Later this morning markets will get a look at U.S services PMI and the ISM non-manufacturing index from November. European shares are mostly higher with most sectors trading higher on trade optimism. Euro zone PMI came in at 50.6, slightly above the threshold of 50 showing continued expansion. Asian shares closed broadly lower with Australian stocks lagging for the second day as economic growth slowed to 1.7% y/y in September.

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80 Hits

U.S. Stock Futures are Lower After Trade Comments #Trump #China #TradeDeal

U.S. stock futures are lower after trade comments. President Trump commented that he would prefer to wait until after the 2020 presidential election to finalize a trade deal but is willing to move faster for the right deal. European shares are mostly lower on President Trumps trade comments as well as the possibility of tariffs on French products in response to France looking to add a digital tax that could hurt U.S. technology companies. Asian shares closed mostly lower with Australian stocks lagging the region.

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85 Hits

US Stocks are Slightly Higher to Start Off the Final Month of the Year #China #PMI #ISM

US stocks are slightly higher to start off the final month of the year. Better than expected economic data out of China helped give global markets a boost. The Caixin manufacturing PMI came in at 51.8 compared to estimates of 51.4. In US economic data, we will get ISM manufacturing and construction spending numbers later this morning. Markets in Asia closed higher led by the Nikkei on the back of the Chinese data while European markets are trading down led by the DAX. 

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89 Hits

U.S. Stock Futures are Higher on Strong Data #DurableGoods #Jobless #GDP

U.S. stock futures are higher on strong data. Durable goods rose 0.6% in October against expectations for a 0.7% decline. Ex-transportation and core capital goods both beat expectations by a large margin. Third quarter GDP was revised higher to 2.1% from 1.9%. Lastly, jobless claims were in line with expectations last week at 213,000. European stocks are mostly higher after stronger than expected consumer confidence numbers from France. Asian stocks closed mostly higher; however, Chinese stocks lagged the region after industrial profits reportedly declined 9.9% y/y in October.

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88 Hits

U.S. Stock Futures are Mixed After a Strong Start to the Week #Futures #TradeTalks #TradeDeficit

U.S. stock futures are mixed after a strong start to the week. Strong moves in technology and healthcare stocks helped lift the markets to new highs yesterday. This morning, investors are taking a more skeptical view on the overnight trade news that the U.S. and China have agreed on steps necessary to resolve obstacles to achieving a phase one deal. On the data front, the trade deficit narrowed in October to -$66.53B from -$70.4B. Later this morning markets will get a look at home prices from September, new home sales from October and consumer confidence for November. European stocks are mixed with discretionary stocks lagging while consumer staples are leading. Asian shares closed mostly higher with Japanese stocks leading.

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97 Hits

U.S. Stock Futures are Higher on Deal News #TradeTalks #Takeovers #HongKong

U.S. stock futures are higher on deal news. Two large takeover deals helped boost sentiment on Monday as Charles Schwab confirmed their plans to acquire TD Ameritrade for $26B and LVMH agreed to buy Tiffany for $16.2B. On the data front, later this morning markets will get a look at manufacturing activity in Texas for November. European stocks are broadly higher with all sectors trading higher. Asian shares closed higher, with Hong Kong stocks leading, after pro-democracy candidates won recent elections.

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98 Hits

U.S. Stock Futures are Slightly Higher Ahead of Data #Futures #PMI #ConsumerSentiment

U.S. stock futures are slightly higher ahead of data. Markets are holding gains ahead of the November read on composite PMI and the final read on November consumer sentiment. The bounce comes after stocks have fallen for three straight days following a long stretch without back-to-back declines. European shares are higher, with basic material stocks leading, despite euro zone PMI falling to 50.3 in November. Asian shares closed mostly higher; however, Chinese shares lagged the region.

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88 Hits

U.S. Futures are Near Unchanged as Markets Weigh Trade Developments #China #Trump #HongKong

U.S. stock futures are near unchanged as markets weigh trade developments. With President Trump reportedly ready to sign a bill in support of Hong Kong protestors, market fear this may damage trade negotiations. Also weighing on markets was the testimony of Gordon Sondland yesterday in the impeachment hearing, where he stated that the President directed him to put pressure on Ukraine to initiate investigations on Hunter Biden. On the data front, weekly jobless claims were higher than expected last week at 227,000, while the Philadelphia Fed business outlook survey beat expectations in November. Later this morning markets will get a look at existing home sales from October. European stocks are slightly lower with basic material stocks lagging. Asian shares closed broadly lower as expectations for a trade deal to be done before year-end is fading.

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105 Hits

U.S. Stock Futures are Lower for a Second Day #Futures #Tariffs #FOMC

U.S. stock futures are lower for a second day. With futures lower, the S&P 500 may break the current streak of 30 straight trading days without back-to-back declines as stocks closed slightly lower yesterday. Trade rhetoric has been weighing on stocks overnight after President Trump said he would raise tariffs if a deal cannot be reached. On the data front, weekly mortgage applications fell 2.2% as strength in purchases was more than offset by the weakness in refinancing. Later this afternoon, markets will get a look at the FOMC minutes from the October meeting. European shares are lower with basic materials and travels stocks lagging. Asian stocks closed broadly lower as trade concerns weigh.

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109 Hits

U.S. Stock Futures are Holding Gains After Data #Futures #Earnings #Housing

U.S. Stock futures are holding gains after data. Housing starts were slightly weaker than expected, however, building permits beat expectations in October. The market is also weighing mixed news out of a few big retailers this morning after Home Depot and Kohls reported weaker-than-expected results while TJ Max beat expectations. European shares are trading higher, with automotive and materials stocks leading the gains. Asian shares closed mixed with Chinese stocks leading the region.

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102 Hits

U.S. Stock Futures Reverse Early Gains on China Headlines #TradeTalks #China #Housing

U.S. stock futures reverse early gains on China headlines. Stock futures were trading at all-time highs in the pre-market but have reversed earlier gains after CNBC reported that the Chinese have become pessimistic on a trade deal due to President Trump’s insistence on not rolling back tariffs. On the data front, markets will get a look at sentiment in the housing market later this morning when the NAHB releases their November read on the housing market index. European markets are mixed with financial stocks leading and auto stocks lagging. Asian stocks closed mostly higher with Chinese stocks leading.

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107 Hits

U.S. Stock Futures are Holding Gains After Data #TradeTalks #RetailSales #Manufacturing

U.S. stock futures are holding gains after data. Stock futures initially got a boost after-hours yesterday when economic advisor Larry Kudlow said that the U.S. and China are close to a deal. Those gains have held this morning after the Commerce Department reported that retail sales rose 0.3% in October, slightly better than expected. While headline retail sales were higher than expected, core sales were below expectations and September’s core reading was revised slightly lower. Import and export prices both fell in October, with import prices down 0.5% and export prices falling 0.1%. Lastly, the November Empire State Manufacturing Survey was weaker than expected coming in at 2.9. Later this morning markets will get a look at October industrial production and business inventories from September. European stocks are mostly higher with auto stocks reversing yesterday’s losses and leading higher. On the data front, euro zone inflation was 0.7% in October, down from 0.8% in September. Asian shares closed mostly higher as trade comment have lifted the region.

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117 Hits

U.S. Stock Futures Remain Lower After Data #Jobless #Inflation #Powell

U.S. stock futures remain lower after data. Weekly jobless claims rose 14,000 last week to 225,000, above estimates of 215,000. On the inflation front, the BLS reported that producer prices for final demand rose slightly more than expected, rising 0.4% in October, however, these number still confirm that inflation remains under control. Later this morning, Fed Chair Jerome Powell will begin day two of his congressional testimony on economic outlook. European shares are lower with automobile stocks lagging. German GDP beat expectations in Q3, rising 0.1%, above expectations of a 0.1% decline. The euro zone fared slightly better with GDP rising 0.2% in Q3. Asian markets closed mixed with the Hang Seng lagging as Hong Kong protests turn violent and Japanese shares underperforming after Q3 GDP missed expectations by a wide margin. Chinese industrial production missed expectations in October, growing 4.7% y/y against expectations of a 5.4% rise.

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113 Hits

U.S. Stock Futures are Lower Ahead of Powell's Speech #Fed #Powell #Tariffs

U.S. stock futures are lower ahead of Powell's speech. Stocks are looking to open lower as the U.S. and China dispute tariffs in attempt to achieve a phase one trade deal. Later this morning markets will be paying attention to the opening of the public portion of the impeachment investigation on Capitol Hill where Representatives Adam Schiff and Devin Nunes will have a chance to question witnesses. Markets will also hear from the Fed Chair Jerome Powell as he will testify before the Congressional Joint Economic Committee on the economic outlook later this morning. Earlier today, the October consumer price index was reported in line with estimates, rising 0.2%m/m and 2.3% y/y when food and energy were excluded. European stocks are trading lower with financial stocks leading the decline. Asian stocks closed lower with Hong Kong’s Hang Seng leading the declines, as the escalation of violence has investors cautious.

 

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109 Hits

U.S. Stock Futures Are Flat Ahead of President Trump’s Speech #Futures #Trump #SmallBusiness

U.S. Stock futures are flat ahead of President Trump's speech. Markets will be looking for comments on trade as President Trump is set to speak today at the Economic Club of New York at noon.  On the data front, the NFIB reported that the October small business optimism rose in October, as small businesses are considering increasing inventories and will look to make capital outlays.  European shares are higher on improved sentiment after speculation that President Trump may delay auto tariffs on the EU for up to six months.  Asian shares closed mostly higher with Japanese shares leading the region.

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116 Hits

U.S. Stocks Are Set to Open The Week Lower After Five Consecutive Weeks of Gains #Trump #China #Tariffs

U.S. stocks are set to open the week lower after five consecutive weeks of gains. U.S. stocks are slightly lower after President Trump denied stories that he has agreed to rollback tariffs on Chinese goods.  There is no economic data for release today and the bond market is closed in honor of Veteran’s Day.  European stocks are lower with basic material stocks lagging as tariff talk weighs.  In the U.K., third quarter GDP rose by 0.3%, however, manufacturing output fell by 0.4% in September.  Asian markets closed mostly lower with Hong Kong’s Hang Seng Index leading the losses after protests escalated.

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114 Hits

U.S. Futures are Slightly Lower After Closing at All-Time Highs #Futures #SP500 #TradeTalks

U.S. stock futures are slightly lower after closing at all-time highs. The S&P 500 is looking to record a 5th straight week of gains after closing at a record high yesterday on news that the U.S. and China would consider rolling back tariffs as part of a trade agreement. Markets are quiet this morning as investors digest earnings reports and trade news. Later this morning markets will get a preliminary look at November consumer sentiment. European shares are mostly lower with basic materials stocks leading the decline. Asian stocks closed mostly lower, however, Japan’s Nikkei 225 outperformed the region.

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133 Hits

U.S. Futures Move to Record Highs on U.S./China Tariff Concession Agreements #TradeTalks #China #Jobless

U.S. stock futures move to record highs on U.S./China tariff concession agreements. The U.S. and China have reportedly agreed to remove existing trade tariffs, in phases, as they work toward a trade agreement. On the data front, weekly jobless claims were lower than expected last week, coming in at 211,000. European shares are also higher on tariff news with bank stocks leading and utility stocks lagging. Asian shares closed mostly higher on trade developments.

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143 Hits

U.S. Stock Futures are Slightly Higher as Stocks Pause Near Record Highs #Futures #Economy #Mortgage

U.S. stock futures are slightly higher as stocks pause near record highs. With little news moving stocks this morning, futures are hanging around unchanged. On the data front, mortgage applications fell slightly last week on weakness in purchases. Non-farm productivity was lower than expected in Q3, falling 0.3% against expectations of a 1% rise. Unit labor cost rose more than expected in Q3, rising 3.6% against expectations of a 2.2% rise. European shares are mostly higher, with bank stocks leading, after euro zone PMI rose more than expected in September. Asian shares closed mixed with Chinese stocks underperforming the region.

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128 Hits

U.S. Stock Futures are Holding Small Gains as Investors Focus on Trade #Futures #TradeTalks #TradeDeficit

U.S. stock futures are holding small gains as investors focus on trade. Positive comments from Chinese President Xi Jinping on lower tariffs, followed by reports that the U.S. is considering reducing tariffs as part of a “phase one” trade agreement has helped boost stocks this morning. On the data front, the trade deficit narrowed in September to $52.5B, in line with estimates. Later this morning markets will get a look at the ISM non-manufacturing index from October as well as job openings and labor turnover from September. European shares are trading higher with material stocks leading and utility stocks lagging. Asian stocks closed higher with Japanese stocks leading after being closed on Monday. Chinese services PMI dropped to a nine-month low in October but remains in expansion territory.

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125 Hits

U.S. Stock Futures are Higher on Trade Optimism #TradeWar #Huawei #China

U.S. stock futures are higher on trade optimism. News that U.S. firms may shortly would be able to resume business with Chinese telecom company Huawei, is being viewed as sign that trade talks are progressing. Investors are optimistic that a phase one deal can be completed soon. On the data front, later this morning markets will get a look at factory orders from September. European stocks are higher as trade sensitive stocks lead the market higher on positive trade comments. Asian stocks closed broadly higher with Chinese stocks leading. Markets in Japan were closed on holiday.

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139 Hits

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