AuthorTopic: Big Slide v2.0 Begins  (Read 118669 times)

Offline Palloy2

  • Global Moderator
  • Sous Chef
  • *****
  • Posts: 6097
    • View Profile
    • Palloy's Blog
Re: Big Slide v2.0 Begins
« Reply #525 on: March 23, 2018, 08:03:51 PM »
I don't suppose they will have access to the gold markets.  Is there a fundamental human right to be able to buy gold?  I don't suppose there is in China, any more than I can buy gold from Fort Knox.
"The State is a body of armed men."

Offline RE

  • Administrator
  • Chief Cook & Bottlewasher
  • *****
  • Posts: 39144
    • View Profile
Re: Big Slide v2.0 Begins
« Reply #526 on: March 23, 2018, 08:12:35 PM »
I don't suppose they will have access to the gold markets.  Is there a fundamental human right to be able to buy gold?  I don't suppose there is in China, any more than I can buy gold from Fort Knox.

It's not "buying gold" if you already own a "Gold Backed Yuan".  It's just trading the Certificate in from Paper for Gold.

RE
Save As Many As You Can

Offline Palloy2

  • Global Moderator
  • Sous Chef
  • *****
  • Posts: 6097
    • View Profile
    • Palloy's Blog
Re: Big Slide v2.0 Begins
« Reply #527 on: March 23, 2018, 08:24:19 PM »
Have you got nothing better to do?
"The State is a body of armed men."

Offline RE

  • Administrator
  • Chief Cook & Bottlewasher
  • *****
  • Posts: 39144
    • View Profile
Re: Big Slide v2.0 Begins
« Reply #528 on: March 23, 2018, 08:30:13 PM »
Have you got nothing better to do?

Not at the moment.

RE
Save As Many As You Can

Offline RE

  • Administrator
  • Chief Cook & Bottlewasher
  • *****
  • Posts: 39144
    • View Profile
💴 Asian shares stumble as trade war fears roil global markets
« Reply #529 on: March 26, 2018, 01:44:49 AM »
https://in.reuters.com/article/global-markets/asian-shares-stumble-as-trade-war-fears-roil-global-markets-idINKBN1H2080

Money News
March 25, 2018 / 6:59 PM / Updated 2 hours ago
Asian shares stumble as trade war fears roil global markets
Swati Pandey

4 Min Read

SYDNEY (Reuters) - Fears of a full-blown trade war between the United States and China battered Asian shares again on Monday, keeping the safe haven yen near a 16-month peak as investors fretted over the fate of global growth.


Employees of the Tokyo Stock Exchange (TSE) work at the bourse in Tokyo, Japan, February 9, 2016. REUTERS/Issei Kato/Files

But E-Mini futures for the S&P 500 leapt 0.6 percent, an unusual move during early Asian hours, after the Wall Street Journal reported the United States and China have quietly started negotiating to improve U.S. access to Chinese markets.

The news was little consolation for Asian shares which were left nursing their wounds.

Japan’s Nikkei was down 0.6 percent after falling to a near six-month trough at open. Chinese shares declined about 1 percent in early trade.

MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.2 percent for its fourth consecutive day in the red.

The index is headed for its first quarterly decline since late 2016 as the risk of faster U.S. rate rises and the spectre of a trade war spooked investors who had enjoyed a multi-year bull run.

“Protectionism remains a source of volatility and downside for equities,” analysts at JPMorgan said in a note.
ADVERTISING
inRead invented by Teads

“Asia ex-Japan equity outperformance is in part a function of faster growth and capital inflows - both clearly at risk in a trade war.”

South Korea’s benchmark share index was the lone bright spot, up 0.1 percent on reports the United States and South Korea were on the verge of a trade deal, including an exemption from U.S. steel and aluminium tariffs for South Korea.

The Korean won was also firmer after hitting a near one-month trough on the U.S. dollar last week.

U.S. President Donald Trump signed a memorandum on Friday that could impose tariffs on up to $60 billion of imports from China, although the measures have a 30-day consultation period before they take effect.

The tariffs are on top of additional duties on steel and aluminium on a number of countries including China, which has already hit back with its own plans to slap duties on up to $3 billion of U.S. imports.

U.S. shares were also clobbered last week, with the Dow falling 1.8 percent on Friday, the S&P 500 declining 2.1 percent and the Nasdaq off 2.4 percent.

“A faltering US stock market would be contagious, which it has been since Wednesday,” Capital Economics said in a note.

“Stocks in emerging market countries with close to ties to China remain especially vulnerable, as do companies around the world which could be affected by Chinese retaliation,” it added.
IN SEARCH OF SAFETY

In the uncertain global economic climate, investors looked to pile into the Japanese yen, traditionally a safe haven asset thanks to the country’s massive current account surplus.

Speculators added short dollar bets to their portfolios, taking the net short position to its highest in more than a year, according to calculations by Reuters and the Commodity Futures Trading Commission for the week to March 20.Short yen positions were cut to the smallest since November 2016.

The yen held at 104.90 after last week going below 105 for the first time since November 2016. The euro, another perceived haven for nervous investors, was up 0.1 percent at $1.2367.

The dollar index tracking the greenback against six other major currencies, was near a one-month low at 89.423.

In commodities, international Brent crude futures opened above $70 per barrel for the first time since January.Prices were lifted by expectations that OPEC-leader Saudi Arabia may extend supply cuts into 2019, as well as concerns that the United States may re-introduce sanctions against Iran.

Spot gold was flat at $1,346.71 an ounce.

Reporting by Swati Pandey; Editing by Eric Meijer
« Last Edit: March 26, 2018, 01:47:25 AM by RE »
Save As Many As You Can

Offline RE

  • Administrator
  • Chief Cook & Bottlewasher
  • *****
  • Posts: 39144
    • View Profile
PPT & BTFDers ride to the rescue!
« Reply #530 on: March 26, 2018, 11:43:53 AM »
They don't seem too worried about the new "Gold Backed"  ::) PetroYuan today.

RE

https://www.cnbc.com/2018/03/26/us-stock-futures-dow-data-fed-speeches-and-politics-on-the-agenda.html

Dow jumps 550 points as trade tensions ease


    The Dow Jones industrial average traded 550 points higher, with Microsoft as the best-performing stock in the index.
    The move higher comes after the major averages posted their worst week since January 2016 amid fears of a trade war between China and the U.S.
    Earlier, the Financial Times reported China has offered to buy more semiconductors from the U.S. to help cut its trade surplus with the U.S.

Fred Imbert   | Alexandra Gibbs   
Published 9 Hours Ago Updated 11 Mins Ago CNBC.com
      

      
Jim Paulsen on 3 risk factors for this year
Jim Paulsen on three risk factors for this year 
2 Hours Ago | 06:38

Stocks traded sharply higher on Monday, bouncing back from strong losses in the previous session as trade tensions between the U.S. and China appeared to ease.

The Dow Jones industrial average rose 550 points, with Microsoft as the best-performing stock in the index. The S&P 500 gained 2.1 percent to bounce above its 200-day moving average, with technology and financials leading all sectors higher. The Nasdaq composite advanced 2.3 percent with Apple and Amazon both rising.

The Financial Times reported China has offered to buy more semiconductors from the U.S. to help cut its trade surplus with the U.S. The Wall Street Journal also reported that U.S. and Chinese officials are working to improve U.S. access to China's markets.
Traders work on the floor of the New York Stock Exchange.
Lucas Jackson | Reuters
Traders work on the floor of the New York Stock Exchange.

Investors "have apparently recognized that a trade war is in no one's best interests and therefore extremely unlikely," said Jeremy Klein, chief market strategist at FBN Securities, in a note. "Specifically, the President merely wants to fulfill a campaign promise while China will only enact token countermeasures to appease its citizens."

Markets overseas also jumped on Monday. In Asia, some indexes rose after news surfaced that the U.S. had agreed to excuse South Korea from steel levies. Meantime in Europe, stocks were lower as investors failed to shake off trade war worries.

Wall Street finished Friday's session deep in the red on Friday, with the Dow dropping more than 400 points by the close — closing at its lowest level since November and finishing in correction territory, as it was 11.6 percent down from its 52-week high. The S&P 500 ended Friday's session just outside of correction territory.

"The [S&P 500] comes into the last week of March and the 1st quarter after of the worst weekly showings in the last decade. With the recent intense back and forth action, the environment is looking more like 2011 once again," Frank Cappelleri, executive director at Instinet, said in a note to clients.

Last week, President Donald Trump signed an executive memorandum that would inflict tariffs on Chinese imports — of up to $60 billion. China retaliated with their own set of levies, drawing up a list of 128 U.S. products that could be possible retaliation targets.

Social media firms continue to be under fire, as abuse of people's data remains a key topic of discussion. Last week, reports emerged alleging that Cambridge Analytica, an analytics company, had gathered data from 50 million Facebook profiles without the permission of its users. While Facebook have since come out to apologize and try to rectify the matter, concerns remain.

Facebook shares dropped 2.4 percent and dipped into bear market territory after the Federal Trade Commission announced it was investigating the company's data practices. Shares of Google-parent Alphabet also declined on the news, before rebounding to trade along the flatline.

In other corporate news, Boeing shares rose 1.7 percent after the company announced it delivered its first 787-10 Dreamliner jet to Singapore Airlines over the weekend.

Meanwhile, Dollar Tree rose 3.4 percent after Piper Jaffray upgraded the stock to "overweight" from "neutral," citing, among other factors, good investments at its Family Dollar unit.


Save As Many As You Can

Offline Palloy2

  • Global Moderator
  • Sous Chef
  • *****
  • Posts: 6097
    • View Profile
    • Palloy's Blog
Re: Big Slide v2.0 Begins
« Reply #531 on: March 26, 2018, 09:19:27 PM »
European banks are collapsing putting pressure on the entire banking system. They will only survive for another 20 years (honestly!).

https://www.zerohedge.com/news/2018-03-26/european-stocks-enter-correction-bank-battering-continues
European Stocks Enter Correction As Bank-Battering Continues
Tyler Durden
03/26/2018

Europe's Stoxx 600 index is now down over 10% from its January highs, officially entering correction...



As (major exporter) Germany leads the drop this month...



And bank stocks continues to get battered...



Though we note that the last two weeks have seen US banks underperform EU, as credit risk spikes on global funding stress...
"The State is a body of armed men."

Offline Palloy2

  • Global Moderator
  • Sous Chef
  • *****
  • Posts: 6097
    • View Profile
    • Palloy's Blog
Re: Big Slide v2.0 Begins
« Reply #532 on: March 26, 2018, 09:26:23 PM »
After years of inaction, finally FTC is "committed to protecting consumers' privacy and data ".

https://www.zerohedge.com/news/2018-03-26/facebook-plunges-after-ftc-reveals-probe-privacy-practices
Facebook Plunges After FTC Probe, German Sanctions Headlines
Tyler Durden
03/26/2018

The Federal Trade Commission has confirmed that it has opened a nonpublic probe into Facebook's privacy practices, saying it's committed to protecting consumers' privacy and data and will hold accountable companies that abuse the FTC guidelines.

In a statement, the FTC said it takes "very seriously" recent press reports raising concerns about the data security at the social media giant, according to Bloomberg.

And with that, the public is getting an important early clue into the shape of the federal response to revelations about Facebook's handling (abuse?) of user data for commercial purposes.

The FTC investigation, which was reported by Bloomberg last week, is focused on whether Facebook violated terms of a 2011 consent decree over its handling of personal user data.

Additionally, German Justice Minister Barley said Monday in Berlin that Facebook's data practices couldn't be tolerated and that sanctions against the company should be levied at the EU level. He added that the company needs to be more transparent about its algorithms.

Facebook shares, which plunged into correction territory last week, collapsed further on the news.



And it's not helping that Mark Zuckerberg is dumping his shares into this freefall...

"The State is a body of armed men."

Offline Palloy2

  • Global Moderator
  • Sous Chef
  • *****
  • Posts: 6097
    • View Profile
    • Palloy's Blog
Re: Big Slide v2.0 Begins
« Reply #533 on: March 27, 2018, 06:45:20 PM »
Twitter is tanking after Moodys downgraded them over cash flow outlook:



Down over 12% today, and 24% in 2 weeks.
"The State is a body of armed men."

Offline RE

  • Administrator
  • Chief Cook & Bottlewasher
  • *****
  • Posts: 39144
    • View Profile
Re: Big Slide v2.0 Begins
« Reply #534 on: March 27, 2018, 06:56:56 PM »
Twitter is tanking after Moodys downgraded them over cash flow outlook:

What will Trumpovetsky do if Twitshit goes Tits Up? ???  ::)

RE
Save As Many As You Can

Offline azozeo

  • Master Chef
  • *****
  • Posts: 9345
    • View Profile
Re: Big Slide v2.0 Begins
« Reply #535 on: March 27, 2018, 07:04:41 PM »
With Z's stock share's dumping, I'll bet he's planning on gettin' all lawyer'd up like Traitor 44 & HRC.
I know exactly what you mean. Let me tell you why you’re here. You’re here because you know something. What you know you can’t explain, but you feel it. You’ve felt it your entire life, that there’s something wrong with the world.
You don’t know what it is but its there, like a splinter in your mind

Offline Surly1

  • Administrator
  • Master Chef
  • *****
  • Posts: 16492
    • View Profile
    • Doomstead Diner
Re: Big Slide v2.0 Begins
« Reply #536 on: March 28, 2018, 01:51:14 AM »
With Z's stock share's dumping, I'll bet he's planning on gettin' all lawyer'd up like Traitor 44 & HRC.

Dafuq?
The only thing "Traitor 44" was guilty of was President' While Black.

Hittin' the pipe again?
"It is difficult to write a paradiso when all the superficial indications are that you ought to write an apocalypse." -Ezra Pound

Offline Palloy2

  • Global Moderator
  • Sous Chef
  • *****
  • Posts: 6097
    • View Profile
    • Palloy's Blog
Re: Big Slide v2.0 Begins
« Reply #537 on: March 29, 2018, 09:00:19 PM »
https://www.zerohedge.com/news/2018-03-28/bezos-battered-13-billion-net-worth-loss-amazon-crashes
Bezos Battered : $13 Billion Net Worth Loss As Amazon Crashes
Tyler Durden
Wed, 03/28/2018

Amazon shares are down 7% today and almost 11% in the last two days, breaking below its 50DMA, amid a broad tech unwind contagion and growing concerns about government crackdowns from "obsessed" Trump.

Bloodbath...



The reason is that according to Axios, it is not Facebook that Trump wants to go after, but rather Amazon: “He’s obsessed with Amazon,” a source said. “Obsessed.” According to the anonymous sources, Trump has allegedly talked about changing Amazon’s tax treatment because he’s worried about mom-and-pop retailers being put out of business.

    A source who’s spoken to POTUS: “He’s wondered aloud if there may be any way to go after Amazon with antitrust or competition law."

    Trump’s deep-seated antipathy toward Amazon surfaces when discussing tax policy and antitrust cases. The president would love to clip CEO Jeff Bezos’ wings. But he doesn’t have a plan to make that happen.

    Behind the president's thinking: Trump's wealthy friends tell him Amazon is destroying their businesses. His real estate buddies tell him — and he agrees — that Amazon is killing shopping malls and brick-and-mortar retailers.

        Trump tells people Amazon has gotten a free ride from taxpayers and cushy treatment from the U.S. Postal Service.
        “The whole post office thing, that's very much a perception he has,” another source said. “It's been explained to him in multiple meetings that his perception is inaccurate and that the post office actually makes a ton of money from Amazon."
        Axios' Ina Fried notes: The Postal Service actually added delivery on Sunday in some cities because Amazon made it worthwhile.
        Trump also pays close attention to the Amazon founder's ownership of The Washington Post, which the president views as Bezos’ political weapon.

To be sure, speculation like this is hardly new, and reemerges periodically, although today it comes at a sensitive time for the tech sector, and Amazon in particular. As Stifel analyst Scott Devitt pointed out today, Amazon's shares are sinking after an earlier Axios report suggested that President Trump may not like the company, yet "we already know this based on numerous tweets on the topic by the president."

And all that means that Jeff Bezos has lost over $13 billion in net worth in the last two days.

Bezos lost $4.6bn yesterday and today's drop is almost double that - the biggest two-day crash in the stock in four years.
"The State is a body of armed men."

Offline RE

  • Administrator
  • Chief Cook & Bottlewasher
  • *****
  • Posts: 39144
    • View Profile
📉 Stock futures plunge, with the Dow set for a nearly 600 point drop
« Reply #538 on: April 04, 2018, 04:02:51 AM »
Bring in the PPT!

Kohl's still trading basically sideways.  I'm not dropping back in on this clusterfuck anytime soon.

RE

https://www.cnbc.com/2018/04/04/us-stock-futures-dow-data-trade-tech-and-politics-in-focus.html

Stock futures plunge, with the Dow set for a nearly 600 point drop, after China announces tariffs


    Around 6:20 a.m. ET, Dow futures indicated a drop of nearly 600 points. The Nasdaq and the S&P 500 futures also both indicated heavy losses at the open.
    China has announced brand-new tariffs on 106 U.S. products, including cars, whisky, and soybeans.
    In earnings, CarMax, Acuity Brands and Lennar are all scheduled to publish their latest financial reports.

Alexandra Gibbs   | @alexgibbsy
Published 1 Hour Ago Updated 24 Mins Ago CNBC.com
      

U.S. stock index futures tumbled ahead of Wednesday's open, as concerns over a potential trade war between the U.S. and China intensified.

Around 6:20 a.m. ET, Dow futures indicated a drop of nearly 600 points at the start of trading in New York. The Nasdaq and the S&P 500 futures also indicated heavy losses at the open for their respective markets.
Traders work on the floor of the New York Stock Exchange (NYSE).
Getty Images
Traders work on the floor of the New York Stock Exchange (NYSE).

The moves in pre-market trade come as China announced brand-new tariffs on 106 U.S. products, including cars, whiskey, aerospace and defense, and soybeans.

Automakers were down sharply, with Ford and General Motors off about 4 percent. Boeing was also slammed, down more than 7 percent.

The move comes less than a day after President Donald Trump issued a list of Chinese imports that the U.S. administration aims to target as part of a crackdown on what the president sees as unfair trade practices.

U.S. futures extended losses following the announcement, with worries over technology and trade already putting markets on edge.

Wednesday's pre-market trade paints a different picture to that of Tuesday's session, when stocks on Wall Street rose sharply to finish the day on a positive note. The Dow Jones industrial average closed almost 400 points higher as technology rebounded from sharp losses seen in Monday's sessions.

Ahead of Friday's nonfarm payrolls, investors will digesting the latest economic news, including the ADP National Employment Report at 8:15 a.m. ET and services purchasing managers' index (PMI) at 9:45 a.m. ET.

Meantime at 10 a.m. ET, non-manufacturing ISM report on business is due as well as factory orders. Mortgage applications will be released at 7 a.m. ET as usual.
What's most likely to derail the market?
Tech sector worries
Trade battles
Credit fears
Vote
Vote to see results

On the earnings front, CarMax, Acuity Brands and Lennar are all scheduled to publish their latest financial reports.

Meantime, investors will be keeping a close eye on Spotify, after it debuted on the public market Tuesday. The music streaming platform closed up 13 percent, from its reference price.

On the central banking front, the Federal Reserve Bank of Chicago's two-day annual risk conference begins. Meantime, two speeches by Fed officials are due to take place, one from St. Louis Fed President James Bullard in Arkansas, and one from Cleveland Fed President Loretta Mester in Ohio.

No major auctions by the U.S. Treasury are due to take place Wednesday.

—CNBC's Sam Meredith contributed to this report.
Save As Many As You Can

Offline Eddie

  • Global Moderator
  • Master Chef
  • *****
  • Posts: 17502
    • View Profile
Re: Big Slide v2.0 Begins
« Reply #539 on: April 04, 2018, 04:19:02 AM »
Glad I went to cash.
What makes the desert beautiful is that somewhere it hides a well.