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U.S. Futures Set to Open Lower After China Threatens Retaliation for Tariffs #China #Futures #Tariffs

U.S. futures set to open lower after China threatens retaliation for tariffs.  Chinese officials announced a plan to add tariffs on another $75B of U.S. goods that will mostly be in the range of 5 and 10% and go into effect on September 1st and December 15th.  An exception to the 5-10% range will be automobiles and automobile parts, which will be hit with a 25% tariff.   European shares also moved lower after the retaliatory tariffs from China on U.S. goods.  Asian shares closed higher on the day as markets closed prior to the latest tariff announcements.

 

 

US Futures Lower / Asia Higher / EU Lower / WTI @ 53.82 -1.53 / Brent 58.84 -1.08 / Nat Gas @ 2.13 -0.03 / Gold @ 1511.30 +2.80 / Platinum 851.36 -6.92 / Silver @ 17.08 +0.04 / Copper @ 2.54 -0.02 / AGS Mixed / Euro @ 1.1067 -0.0011 / 10 Yr UST @ 1.61% / 30 Yr @ 2.12%

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18 Hits

U.S. Futures are Slightly Higher as Investors Await Jackson Hole Comments #Futures #Powell #JacksonHole

U.S. futures are slightly higher as investors await Jackson Hole comments. Several Fed Presidents will speak today as the central bank summit begins in Jackson Hole, Wyoming. Investors will look for clues from the speakers for hints on the path of interest rate policy. On the data front, weekly jobless claims fell 12k to 209k last week, slightly below estimates of 216k. Later this morning markets will get a look at the August flash PMI composite. European shares are mixed with consumer product companies leading the losses. Data out of the euro zone showed that business improved in August as PMI was stronger than expected. Asian shares closed mixed with shares in Hong Kong lagging the region.

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29 Hits

U.S. Futures are Higher Ahead of FOMC Minutes #Fed #FOMC #Powell

U.S. futures are higher ahead of FOMC minutes. Later today the Fed will release the minutes from their July meeting in which they lowered rates by 25 basis points in what was labeled a “midcycle adjustment”. Markets will look for additional clues for future policy considerations. On the data front, mortgage applications fell slightly by 0.9% as rates stabilized, one week after applications surged nearly 22%. Later this morning markets will get a look at existing home sales from July. Retail stocks are getting a boost today after Target reported better-than-expected earnings and revenue and lifted guidance for the remainder of the year. European stocks are broadly higher with automotive stove leading the gains.  Italy’s markets are higher despite the resignation of Prime Minister Giuseppe Conte. Asian shares closed mixed with Chinese shares managing small gains.

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24 Hits

U.S. Futures are Set to Open Slightly Higher as Earnings Winds Down #Futures #Earnings

U.S. futures are set to open slightly higher as earnings winds down. In a week with several retailers reporting earnings, Home Depot and Kohls both reported better-than-expected earnings today, while revenue missed expectations. There is no scheduled economic data for release today. European shares are mixed as recession fears are being countered with talks of new stimulus. Healthcare stocks are leading in European trading, while Utilities are lagging. Asian shares closed mixed with Japanese stocks leading the region.

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21 Hits

U.S. Stock Futures Rise as Treasury Yields Stabilize #Futures #YieldCurve #Economy

U.S. stock futures rise as Treasury yields stabilize. Concern over falling yields and yield curve inversion took a toll on stocks last week, however, rebounding yields are helping to boost stocks this morning. European shares are higher as Germany floats the idea of fiscal stimulus through government spending to help the economy as needed. Asian shares closed higher with Chinese stocks leading after the PBOC will take measures to lower lending rates to boost the economy.

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20 Hits

What You Don't Know About Medicare May Hurt You

Medicare Enrollment Periods & Special Rules
 

Medicare Enrollment:

When you are first eligible for Medicare, you have a 7-month Initial Enrollment Period to sign up for Part A and/or Part B:

  •  Begins 3 months before the month you turn 65.
  •  Includes the month you turn 65.
  •  Ends 3 months after the month you turn 65.

If you are not automatically enrolled, you can sign up for free Part A (if eligible) any time during or after Initial Enrollment Period starts. If you have to enroll in both Part A and Part B, then you can only enroll during valid enrollment period.

If you wait until the month you turn 65 or enroll in 3-month window after your Part B coverage will be delayed.

In most cases, if you do not enroll in Part B when first eligible you will have to pay a late enrollment fee/penalty. The penalty is 10% additional for every 12 months you wait and will have to pay that additional fee for life. This may also cause a gap in coverage.

If you do not sign up during your Initial 7-month Enrollment Period, you can enroll for Part A and Part B during the General Enrollment Period between January 1st-March 31st if both below apply:

  • You did not sign up when first eligible.
  • You are not eligible for a Special Enrollment Period.

Your coverage starts July 1st if enroll during General Enrollment Period.

 

Special Rules: (Special Enrollment Periods)

Once your Initial Enrollment Period ends, you may be able to sign up for Medicare during a Special Enrollment Period (SEP). If you are covered under a group health plan based on current employment, you have a SEP to sign up for Part A and/or Part B anytime as long as:

  • You or your spouse (or family member if you’re disabled) is working.
  • You are covered by a group health plan through the employer or union based on that work.

You may have an 8-month SEP to enroll in Part A and/or Part B that starts at one of these times-whichever happens first:

  • The month after the employment ends.
  • The month after group health plan insurance based on current employment ends.

Usually do not have to pay a late enrollment penalty if you enroll during SEP.

 

*COBRA and retiree health plans are not considered coverage based on current employment. You are not eligible for a Special Enrollment Period when that coverage ends.

*If your group plan has fewer than 20 employees you need to enroll in Part B when you turn 65 and Medicare will be primary and group secondary. If group plan has 20 or more then group primary and can utilize special rules.

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34 Hits

US Stocks are Higher Today as Markets Look to Rebound From a Volatile Week #Volatility #ConsumerSentiment #HousingStarts

US futures are higher today as markets look to rebound from a volatile week. Bond yields are off its’ lows with the 10-year coming up to 1.56% while the 30 year came back up to 2%. In economic data, housing starts fell 4.0% to an annual pace of 1,191,000 units, below estimates of 1,256,000 units. Later this morning, we will also get the preliminary University of Michigan Consumer Sentiment Index for August which is estimated to come in at 97. Markets in Asia closed higher led by the Hang Seng and European markets are trading higher as they track US futures.

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37 Hits

U.S. Futures Gain on Trade News and Stronger Data #TradeTalks #Tariffs #RetailSales

U.S. futures gain on trade news and stronger data. U.S futures reversed early losses after China said that they hope the U.S. can meet them half-way on trade negotiations. Earlier reports were that China would retaliate on new tariffs which drove futures lower earlier this morning. On the data front, retail sales rose more than expected in July as the consumer remains strong. Both the Philadelphia Fed Outlook  survey and the Empire State Manufacturing survey beat expectations in August. Jobless claims rose slightly to 220,000 last week, while Q2 non-farm productivity rose 2.3%. Later this morning markets will get a look at Industrial production from July, Business inventories from June and housing prices in August. European shares are bouncing off the lows after trade headlines and U.S. data. Asian shares closed mixed with Japanese shares lagging the region as banks were weak.

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28 Hits

U.S. Futures Fall as the 2/10 Yield Curve Inverts #Futures #Economy #YieldCurve

U.S. futures fall as the 2/10 yield curve inverts. The 2yr/10yr Treasury curve has inverted stoking fresh fears of an upcoming recession. Data out of Credit Suisse shows that while the 2/10 inversion usually leads to recession, on average it has taken 22 months and stocks were 12% higher one year after the initial inversion. On the data front, dropping rates caused a surge in refinances last week, jumping 37% for the week. In other data, import and export prices both rose slightly in July, while estimates were for a slight decline for both. European shares are lower as German GDP contracted in Q2 while euro zone GDP grew by only 0.2%. Asian stocks closed higher piggybacking the rally on Wall Street as President Trump pushed back additional Tariffs to December.

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144 Hits

U.S. Futures are Lower as Investors Monitor the Yield Curve #Futures #YieldCurve #CPI

U.S. futures are lower as investors monitor the yield curve. Investors are keeping an eye on Treasury spreads as the 2/10yr curve has reached the flattest level since 2007. Many experts watch for curve inversion as a sign of upcoming recession. On the data front, inflation was reported slightly hotter than expected with CPI rising 0.3% in July. European stocks are lower with automotive and retail stocks lagging. Asian stocks declined overnight, led lower by the Hang Seng index as tensions continue to rise in Hong Kong.

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159 Hits

U.S. Stock Futures are Lower as Global Growth Concerns Loom #Futures #Economy #Stocks

U.S. stock futures are lower as global growth concerns loom. Concerns over the U.S/China trade progress has some investment banks lowering growth forecasts on reduced probability that a trade deal will get done. European shares have reversed lower with bank stocks leading the loses. Asian shares closed mostly higher with China’s Shanghai composite leading the gains, bouncing back from last week’s losses.

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40 Hits

US Stocks are Down as US-China Trade Uncertainty Looms Over Global Markets #TradeTalks #China #PPI

US Stocks are down this morning as uncertainty over the US and China trade war continues to loom over global markets. In economic data, core US PPI came in at a drop of 0.1% from the prior month compared to a 0.1% gain and this also marks the first time there was a drop in this number since 2017. Markets in Europe are trading lower after Italian banks fell sharply on concerns of renewed political uncertainty after the current ruling party called for fresh general elections. Asian markets closed mixed with the Nikkei higher and the Shanghai index off slightly less than 1 percent. The Nikkei closed higher after reporting better than expected GDP numbers.

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49 Hits

US Futures are Higher This Morning as Global Bond Yields Rise #Yield #Yuan #China

US futures are higher this morning as global bond yields rise. Markets were trading lower for most of yesterday after yields fell causing global growth concerns. The level of the yuan versus the dollar has also been at the forefront of news as it is hovering the key number of 7 yuan per dollar. Asian markets did close higher led by the Shanghai Composite after China reported a rise in exports of 3.3% year over year compared to estimates of a 2% drop. Markets in Europe are trading higher led by the CAC on the back of higher bond yields.

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45 Hits

US Futures are Sharply Lower Following a Slide in Treasury Yields #Bonds #Yield #Yuan

US futures are sharply lower this morning following a sharp slide in Treasury yields. The US ten-year yield came as low as 1.63% earlier this morning with the spread between the 2 year and the 10-year coming in at levels not seen since 2007. Other factors that may be causing this selloff in futures is China devaluing their currency once again and setting the official midpoint reference for the yuan at 6.9996 to the dollar. Markets in Asia closed mostly lower as uncertainty continues to loom over the region. European markets are trading higher but earlier gains were pared as global yields fell. No major economic data is due out today.

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52 Hits

US Futures are Higher After China Stabilizes Their Currency Overnight #China #Yuan #JOLTS

US futures are higher this morning after China stabilizes their currency overnight. Markets were down sharply yesterday after China devalued its currency, escalating the US/China trade war with all major US markets closing down over 2 percent. Markets in Asia closed lower as the trade uncertainty continues to loom over markets there. European markets are trading higher as they rebound with US futures. No major economic data has been released yet. Later this morning, we will get new JOLTS job report.

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52 Hits

US Futures are Sharply Lower After China Retaliates US Tariffs by Devaluing Currency #TradeWar #China #Yuan

US futures are sharply lower after China retaliates US tariffs by devaluing their currency. The yuan dropped in value and broke above 7 yuan per US dollar, the lowest level in over 10 years as China looks to offset the effects of tariffs. China also told its state-owned companies to suspend US agricultural imports. Global markets are down sharply on this news with the Hang Seng leading Asian markets to close lower. European stocks are trading lower led by the FTSE and the CAC which are both down over 2 percent. Later this morning, we will get US Markit services PMI and ISM nonmanufacturing data.

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55 Hits

U.S. Futures are Lower as Markets Digest News of New Tariffs #Tariffs #China #JobsReport

U.S. futures are lower as markets digest news of new tariffs. President Trump announced that the U.S. would add a new 10% tariff on the remaining $300B of goods imported from China. Retail and technology stocks slumped on the new as consumer products will be largely affected by the new tariff. On the data front, the Labor Department reported that non-farm payrolls rose 164,000 in July, in line with estimates. The unemployment rate remained unchanged at 3.7% while the participation rate rose to 63%. On the inflation front, average hourly earnings rose 0.3% m/m and 3.2% y/y, slightly more than expectations. On the trade front, the trade deficit was about unchanged at $55.2B. Later this morning markets will get a look at a final read on consumer sentiment from July and June factory orders. European and Asian stocks are trading lower as the U.S./China trade war heats-up and markets look for safe havens.

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50 Hits

U.S. Futures are Slightly Higher After a Volatile Fed Day #Futures #Powell #InterestRates

U.S. futures are slightly higher after a volatile Fed day. Stocks are seeking direction after the Fed reduced interest rates for the first time since 2008. The 25 basis point cut was widely expected, however, markets seem confused about the Feds next moves. On the data front, weekly jobless claims rose 8,000 to 215,000, in line with estimates. Later this morning markets will get a look at both the PMI and ISM manufacturing from July. European shares are mixed after the BOE held rates unchanged and reduced their growth forecast due to Brexit concerns. Asian shares closed mostly lower, with Chinese shares lagging, after July PMI showed contraction for the third straight month.

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56 Hits

U.S. Futures are Higher as Earnings Boost Stocks Ahead of the Fed Announcement #Earnings #Inflation #FOMC

U.S. futures are higher as earnings boost stocks ahead of the Fed announcement. Strong earnings from Apple, GE, Mondelez and others have helped lift stocks this morning. On the data front, ADP reported that private employment rose 156,000 in July, in line with estimates. On the inflation front, employment costs rose 0.6% in Q2 and 2.7% y/y, roughly in line with estimates. Later this morning markets will get a look at Chicago PMI from July and the latest Fed policy announcement at 2pm. Markets are expecting the Fed to cut rates by 25 basis points and will look for clues of additional cuts. European shares are mostly higher as earnings help to boost shares. Asian shares closed lower with Chinese stocks lagging after Chinese factory activity contracted in July for the third consecutive month.

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57 Hits

U.S. Stock Futures are Lower as President Trump goes to Twitter about China #TradeTalks #PCE #Brexit

U.S. stock futures are lower as President Trump goes to Twitter about China. President Trump began tweeting this morning about China’s economy not doing well and how the country has not kept their promise to buy more U.S. agriculture products. President Trump’s comments come as U.S. trade representatives begin sit-down meetings in China. On the data front, personal income rose 0.4% in June, while consumer spending rose 0.3%. A key inflation measure, core PCE, was in line with estimates rising 0.2% m/m. Later this morning markets will get a look at home prices from May, pending home sales from June and consumer confidence for July. European stocks are trading lower, with banks leading the decline, after U.K. PM Boris Johnson said that Britain will leave the EU without a deal on October 31st unless the EU is ready to negotiate. Asian stocks closed higher after the BOJ left rates unchanged and is prepared to take further easing measures if necessary.

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52 Hits

U.S. Futures are Slightly Higher Ahead of Corporate Earnings and a Fed Rate Decision #Futures #Earnings #FOMC

U.S. futures are slightly higher ahead of a much anticipated week of corporate earnings and a Fed rate decision. This week will see a large percent of companies report earnings as well as the two-day Fed meeting in which the market is looking for a 25 basis point cut in rates. The Fed rate decision will occur on Wednesday at 2pm, followed by a press conference at 2:30pm by Fed Chair Powell. On the trade front, U.S. representatives are back in China this week as the two countries try to come to a trade agreement. European stocks are mostly higher with financial stocks leading. Asian stocks closed mostly lower ahead of U.S./China trade talks. South Korea’s Kospi was weak in the region as chipmakers lagged.

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60 Hits

U.S. Futures are Higher as Earnings and GDP Beats Estimates #Earnings #GDP #ECB

U.S. futures are higher as earnings and GDP beats estimates. Strong earnings from Intel, Alphabet, Starbucks and more have helped boost investor confidence this morning. On the data front, second quarter GDP was reported at 2.1%, slightly better than the 1.9% estimates, but down from 3.1% in the first quarter. European stocks are higher one day after the ECB left rates unchanged but hinted that further cuts are possible. Asian shares closed mostly lower with Chinese stocks lagging.

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62 Hits

U.S. Stock Futures are Mixed After Data #Earnings #ECB #DurableGoods

U.S. stock futures are mixed after data. Markets have a lot to digest this morning with many large companies reporting earnings, economic data and an ECB rate decision. On the earnings front, reports have been mixed with better-than-expected results from 3M, Raytheon, Waste Management and Facebook, while Dow, Bristol-Myers and Southwest Air had mixed results. After the bell today, several widely held large-cap stocks will report, including, Intel, Alphabet, Amazon and Starbucks. On the data front, durable good new orders grew more than expected in June while the trade deficit widened. Weekly jobless claims fell 10,000 to 206,000. European stocks are higher after the ECB left rates unchanged, however, left the door open for a future rate cut as well as a revamped asset purchase program. Asian stocks were mostly higher in a muted session with semiconductor stocks outperforming in the region.

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69 Hits

U.S. Futures are Lower as Big Tech Falls on Regulatory Concerns #Futures #BigTech #Housing

U.S. futures are lower as big tech falls on regulatory concerns. The DOJ announced they will examine big technology companies for anticompetitive practices. While the announcement did not specify the companies in focus, shares of Facebook, Google, Amazon and Apple are lagging pre-market. On the data front, mortgage applications fell 1.9% last week, with both purchases and refinances falling. Later this morning markets will get a look at new home sales from June. European shares are mixed with the German DAX leading despite weaker than expected PMI in July. Asian markets closed mostly higher with Chinese stocks leading.

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61 Hits

U.S. Futures are Higher as Earnings Boost Confidence #Earnings #BudgetDeal #Brexit

U.S. futures are higher as earnings boost confidence. Stronger than expected earnings from Coke, Lockheed Martin, United Technologies and more have stock futures moving higher. On the political front, a bipartisan agreement was finalized last night to suspend the debt ceiling and boost spending for two years. The House will have to approve this deal prior to going on recess. On the data front, later this morning markets will get a look at June existing home sales. European shares are higher ahead of the ECB policy meeting on Thursday with investors expecting a 10 basis point rate cut. In the race to replace U.K. PM Theresa May, Boris Johnson edged out rival Jeremy Hunt. Johnson will now have until October 31st to reach a BREXIT deal or choose to leave without a deal in place. Asian stocks closed higher with Japanese shares leading the region.

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72 Hits

U.S. Futures are Higher as Technology Stocks Lead #Futures #Earnings #Technology

U.S. futures are higher as technology stocks lead. Stocks are set to open higher after several chip companies and other technology stocks received upgrades from Goldman, Morgan and others. Earnings reports ramp up this week with reports coming from Coca-Cola, Harley Davidson, Visa, Amazon, Intel, Alphabet, McDonalds, Caterpillar, UPS and many more. European shares are higher with the German Dax leading. Asian shares closed lower with Chinese stocks lagging despite strong performance from the new STAR market in Shanghai. The STAR Market is a Nasdaq-like technology heavy exchange in Shanghai that will start with 25 companies. The strong interest in the new STAR Market on the first day may have led to the lackluster performance of the Shanghai composite on the first day as investors flocked to the new market.

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62 Hits

US Futures are Higher This Morning as Markets Look to Close the Week on a Strong Note #Earnings #Fed

US futures are higher this morning as markets look to close the week on a strong note. In corporate earnings, Microsoft and American Express reported strong beats and both stocks are trading higher in the premarket. Markets globally are higher with the Nikkei leading a positive close in Asia and European markets are trading higher led by the CAC. New York President Williams had dovish statements in a speech yesterday which helped spark the rally in global markets.

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66 Hits

US Futures are Lower This Morning as Earnings Continue to Lead the Headlines #Earnings #Netflix #IBM

US futures are lower this morning as earnings continue to lead the headlines. Netflix is down sharply after reporting a loss in US subscribers while IBM is also down after reporting declining sales from its IT division. From the companies that have already reported earnings, about 84% have beat on the bottom line. But with most earnings estimates lowered coming into the quarter, the beats are not as significant, and investors look to more intricate data out of earnings reports for direction. Markets in Asia closed lower led by the Nikkei and European markets are trading lower led by the DAX. 

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63 Hits

US Futures are Flat This Morning as Earnings Season Begins #Earnings #Housing #TradeTalks

US futures are flat this morning as earnings season starts to ramp up. Bank of America, CSX and United Airlines were a few of the large companies that reported early this morning with CSX, the large transportation company, missing on the top and bottom lines. In economic data, housing starts fell 0.9% to an annual pace of 1.25 million while permits fell 6.1% to a 1.22 million pace. Most markets in Asia closed slightly lower led by the Nikkei while European markets are lower led by the DAX. Trade uncertainty continues to loom over global markets after President Trump suggested that China and the US have a “long way to go” on trade talks.

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68 Hits

US Stocks are Higher as Markets Continue to Rally to New Record Highs #Earnings #GDP #DAX

US stocks are higher this morning as markets continue to rally into new record highs. Bank earnings started with Citigroup reporting better than expected revenues while other large banks will follow later this week. Markets in Asia closed mostly higher despite data that showed that China’s GDP came in at only 6.2%, the lowest rate in about 27 years but this data met estimates. European markets are trading higher led by the DAX on the back of the data from China. No major US economic data is due today.

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65 Hits

U.S. Stocks are Set to Open Higher After a Record Close #Futures #PPI #IndustrialProduction

U.S. stocks are set to open higher after a record close. The S&P 500 and Dow Industrials both closed at record highs yesterday after the two-day testimony from Fed Chair Jerome Powell seemed to confirm that a rate cut is only weeks away. On the data front, the Labor Department reported that produces prices rose 0.1% in June and 1.7% year-over-year. European shares are trading higher after euro zone industrial production rose more than expected in May. Asian shares closed mostly higher after Chinese exports were not as weak as expected in June.

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469 Hits

U.S. Futures are Holding on to Gains After Data #Futures #CPI #Jobless

U.S. futures are holding on to gains after data. Consumer price inflation rose 0.1% in June and 1.6% year-over-year. After stripping-out food and energy, prices rose 0.3% in June and 2.1% on a year-over-year basis. Weekly jobless claims fell 13,000 last week to 221,000, about in line with expectations. Fed Chair Jerome Powell will complete his 2-day testimony in front of the House Financial Services Committee today. On the first day of testimony, markets felt his prepared statement and responses to lawmakers were dovish and concluded that a rate cut was coming in July. European shares are mixed with automotive stocks leading higher. The BOE Financial Stability report showed that British banks are capitalized well to handle both a no-deal Brexit and global trade war. Asian shares closed higher in a broad advance with strength in Japanese shares.

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75 Hits

U.S. Futures Spike Higher After Prepared Comments From Powell #Futures #FOMC #Powell

U.S. futures spike higher after prepared comments from Powell. Futures erased early losses and moved higher after prepared comments from Fed Chair Powell hinted at a rate cut. In two separate events today, investors will get a deeper look into the FOMC thinking. At 10am, Fed Chair Jerome Powell will testify in front of the House Financial Services Committee in Washington D.C. and later this afternoon, the FOMC minutes will be released from the June meeting. Both events could provide further insight into what the Fed may be thinking on the potential for interest rate cuts. Early today, weekly mortgage applications failed to improve despite lower rates, falling 0.1%. European shares are mixed with banks leading higher. Asian shares closed mostly higher with Chinese shares lagging the region. A report out of China showed consumer inflation rose 2.7% in June as food price inflation remains high.

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77 Hits

U.S. Futures are Lower Ahead of Powell Testimony #FOMC #Powell #JobsReport

U.S. futures are lower ahead of Powell testimony. Markets are looking for direction ahead of Fed Chair Jerome Powell’s testimony to the House Financial Services Committee tomorrow. Today, markets will get a look at job openings from May, which is expected to fall slightly from April. European stocks are mostly lower with automobile stocks lagging after BASF warned of a slowdown in the sector. Asian shares closed mostly lower, however, Japanese stocks managed to end the session higher.

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94 Hits

U.S. Stocks are Lower as Market Expectations for Fed Rate Cuts Change #Fed #RateCut #DeutscheBank

U.S. stocks are lower as market expectations for Fed rate cuts change. Following the stronger-than-expected jobs number on Friday, markets have lowered expectations for future rate cuts, pressuring stocks. There is no scheduled economic data for release today. European shares are mixed with basic material stocks leading. Germany’s largest lender, Deutsche Bank, announced a major restructuring that will include ending global equity sales and trading operations and up to 18,000 job cuts by 2022. Asian shares closed lower with Chinese stocks leading the losses.

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98 Hits

U.S. Futures are Holding on to Gains After Data #ADP #Jobless #ISM

U.S. futures are holding on to gains after data. ADP reported that private payrolls grew by 102,000 in June, below estimates for 140,000. First time claims for jobless benefits were 221,000 last week, about in line with the consensus estimate. On the trade front, the U.S. trade deficit widened in May to -$55.5B, higher than estimates of -$53.5B. Later this morning markets will get a look at factory order from May and the ISM non-manufacturing data from June. European shares are trading higher with consumer discretionary stocks leading and energy shares lagging. Yesterday, EU leaders agreed to nominate Christine Lagarde, former IMF Managing Director, to take over for Mario Draghi to lead the ECB. Asian shares closed mostly lower with Chinese shares leading the decline as reports that China’s service sector slowed in June.

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103 Hits

U.S. Stock Futures are Slightly Lower as Trade Remains in Focus #Tariffs #EU #Oil #OPEC

U.S. stock futures are slightly lower as trade remains in focus. Shortly after agreeing to a trade truce with China, the U.S. is now eyeing tariffs on an additional $4B in European goods for new tariffs. Tariff targeted goods include olives, cheese and whisky. On the data front, later this morning markets will get a look at motor vehicle sales from June. Oil prices are lower despite OPEC reaching a deal to extend production cuts for an additional 4 months to due to a weakening global economy. European shares are mostly higher despite new tariff threats and weaker U.K. construction activity. Asian stocks closed mixed with Chinese shares leading.

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645 Hits

U.S. Stock Futures Surge on Trade Headlines #TradeTalks #Tariffs #PMI

U.S. stock futures surge on trade headlines. Stocks are set to open at or near record highs as President Trump and Chines President Xi Jinping agree to a trade truce as they try to come to a comprehensive trade agreement. As part of the truce, the U.S. will temporarily hold off on imposing tariffs on $300B of additional goods and could delay restrictions on U.S. companies doing business with Huawei. Technology shares are leading gains as semiconductor stocks rally on the Huawei news. On the data front, later this morning markets will get a look at the PMI manufacturing and ISM manufacturing numbers from June as well as construction spending from May. European and Asian stocks are higher on trade optimism, with technology shares leading the gains, despite weak factory activity in June in both regions.

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100 Hits

U.S. Stocks are Higher as Banks Lead #G20Summit #PCE #PMI

U.S. stocks are higher as banks lead. Bank stocks are higher this morning after passing the Fed’s annual stress test and some received approval to raise their dividend. On the data front, personal income and spending rose in line with estimates in May, while core PCE was slightly higher than expectations. Later this morning markets will get a look at Chicago PMI and the final read on consumer sentiment from June. European stocks are higher with technology shares leading. On the data front, euro zone inflation was unchanged in June at 1.2%. Asian shares closed lower in a subdued session as investors await headlines out of the G20 summit in Japan.

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741 Hits

U.S. Futures are Holding Gains After Data #GDP #Jobless #HomeSales

U.S. futures are holding gains after data. A final look at Q1 GDP was unchanged at 3.1%, however, core prices were slightly higher than previously thought. On the employment front, weekly jobless claims rose 10,000 from the revised 227,000 last week. Later this morning the market will get a look at pending home sales from May. Stock futures got an initial boost overnight when it was reported that the U.S. and China had reached a trade truce prior to meeting at the G20 summit this weekend. European shares are mixed with retailers leading after H&M shares surged on news the company will open fewer stores and boost online presence. Asian shares closed higher, with Chinese stocks leading, as markets hope for progress at the meeting between President Xi Jinping and President Trump at the G20 summit.

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111 Hits

U.S. Stock Futures Rise on Trade Optimism #TradeTalks #Mnuchin #China

U.S. stock futures rise on trade optimism. Markets cheered comments from Treasury Secretary Steven Mnuchin from a CNBC interview this morning, stating that the U.S. and China have 90% of the trade deal complete. Additionally, it was reported that President Trump may be willing to delay additional tariffs if trades talks progress. On the data front, new orders for capital goods fell more than expected in May, however, core capital goods beat expectations, rising 0.4%. European shares are higher, with automotive and bank stocks leading higher. Asian shares closed mixed with Japanese stocks lagging the region.

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104 Hits

US Futures are flat Ahead of Commentary From Fed Chair Powell #Futures #Powell #G20

US futures are mostly flat this morning ahead of commentary from Fed Chair Powell. Powell is expected to discuss the Fed’s economic outlook and policies at the Council on Foreign Relations at 1pm. Investors are also awaiting the meeting between President Trump and Chinese President Xi Jinping later this week at the G20. In economic data, new home sales for May along with consumer confidence data, Richmond Fed survey and Dallas Fed services for June will be released. Markets in Asia closed mostly lower led by the Hang Seng while European markets are trading mostly flat across the board.

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113 Hits

U.S. Stocks are Looking to Open Higher to Start the Week #China #Iran #Powell

U.S. stocks are looking to open higher to start the week. Stocks have been resilient in light of increased tensions with Iran, Chinese trade and President Trump’s public disapproval of Fed Chair Jerome Powell. Large-cap stocks are flirting with all-time highs as the final week of Q2 begins. European stocks are not faring as well with most markets lower on the day. Automobile manufacturers are lagging after another profit warning from Daimler. Stocks in Asian closed higher, however, a lack of conviction kept gains small on the day.

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118 Hits

U.S. Futures are Lower as Stocks Approach Record Highs #Futures #SPX #HomeSales

U.S. stock futures are lower as stocks approach record highs. The S&P 500 closed at an all-time high on Thursday after the dovish Fed meeting, however, stocks are taking a breather today after a strong week of gains. On the data front, later this morning the market will get a look at existing home sales from May. European shares are lower with most sectors trading lower. Asian markets closed mostly lower with Japanese shares leading the losses.

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108 Hits

U.S. Futures are Looking to Open Near Record Highs After Dovish Fed Meeting #Futures #Fed #Jobless

U.S. stock futures are looking to open near record highs after dovish Fed meeting. While the Fed left rates unchanged in yesterday’s meeting, the indication is that there could be two rate cuts this year. Markets are now pricing-in a 100% chance of a rate cut in the July meeting. On the data front, weekly jobless claims fell to 216,000 from 222,000, below estimates of 219,000. The Philadelphia Business Outlook Survey came in significantly below expectations in June, falling to 0.3 from 16.6. European stocks higher with technology stocks leading the gains. The Bank of England left rates unchanged and reduced the growth forecast for Q2 as global trade disputes weigh. Asian shares closed higher with Chinese shares leading the region.

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U.S. Futures are Slightly Higher as Markets Await the FOMC Policy Decision #Futures #FOMC #Powell

U.S. stock futures are slightly higher as markets await the FOMC policy decision. Stocks seem to be on hold, with little trading ahead of the June FOMC policy meeting. The FOMC statement will be released at 2pm ET, followed by Chairman Powell’s press conference at 2:30pm. The expectations are for no rate change, but a change in the language may indicate that the committee is prepared to cut rates if warranted. In other U.S. data, mortgage applications fell 3.4% last week after a strong surge in the prior week. European stocks are mostly lower with utility stocks giving back some of the recent gains. Asian shares closed higher with Chinese stocks leading the region.

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118 Hits

Global Stocks and Bonds Rally After Draghi Comments #Futures #ECB #Draghi

Global stocks and bonds rally after Draghi comments. At a conference in Portugal, ECB President Mario Draghi commented that the ECB could cut rates again or purchase additional assets if conditions continue to worsen. The news sent stocks and bonds higher as rates are likely to go lower and provide additional stimulus for the economy and the equity markets. On the data front, housing starts fell 0.9% and building permits rose 0.3% in May, both were slightly better than analyst expectations. European stocks went from trading lower to solid gains after President Draghi’s comments. Utility stocks are leading European stocks higher as bond yields fall. Asian shares closed mostly higher with Japanese stocks lagging the region.

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110 Hits

U.S. Stock Futures are Slightly Higher as Fed Week Begins #FOMC #Manufacturing #HousingMarket

U.S. stock futures are slightly higher as Fed week begins. The FOMC will begin their June meeting on Tuesday, ending with a policy announcement on Wednesday at 2pm. While recent headlines have been focusing on a rate cut, the markets are pricing-in only a small probability of a rate cut at the current meeting. On the data front, the Empire State Manufacturing Survey dropped to -8.6 in June, much weaker then estimates of 10.0. Later this morning markets will get a look at housing market conditions from June. European stocks are mixed with financials outperforming. Asian stocks closed mixed with Chinese stocks leading the region.

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U.S. Stock Futures are Lower as Technology Stocks Fall #RetailSales #Broadcom #IndustrialProduction

U.S. stock futures are lower as technology stocks fall. Weaker-than-expected revenue in Q2 along with reduced 2019 guidance from Broadcom has put pressure on chip stocks this morning. On the data front, retail sales rose 0.5% in May, slightly below expectations. Later this morning, markets will get a look at industrial production from May, business inventories from April and a preliminary look at June consumer sentiment. European shares are trading lower with technology shares leading the decline. Asian shares closed mixed with Chinese stocks lagging the region.

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Lee DeLorenzo Named to Barron’s Top Women Financial Advisors 2019

Lee DeLorenzo of United Asset Strategies has been named among the ranks of remarkable women selected for Barron’s Top Women Financial Advisors 2019. This is DeLorenzo’s eleventh consecutive year cracking the Barron’s Top 100, carefully selected from female advisors across the country. Top Advisor rankings are determined by revenue generated, assets under management, as well as the quality of their practices.

The traditional “eat-what-you-kill” era is changing, the Barron’s article notes, moving towards “consultative, financial planning-based relationships,” an environment that benefits from intuition, empathy, and a listening ear.

“At United, we have embraced holistic financial and life coaching with our clients as central to a successful relationship. We are amazed at how long the financial advice community takes to change,” says DeLorenzo.

 

For more information on Lee DeLorenzo and United Asset Strategies, visit www.unitedasset.com

 

See here for full Barron’s article, ‘Why Women Make Great Financial Advisors. So Why Aren’t There More?’

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