Futures up, no surprise after the ramp job yesterday. Pelosi letter did help but it was moar munchkins jaw-boning about possible removal of tariffs-sure!. He is not long for that job imo.
Rats keeping this propped for friday feel good weekend edition. Morgan Stanley earnings were actually worse than JPM but those go buried in all the goings on yesterday.
That was fun! My dog was wondering why I was hooting and hollering so much.
Oil on it's way up again and look for it to continue tracking with equity markets. How anyone is buying this here is a mystery but they do.
Europe up
Asia juiced by the yuan intervention. Sometimes this takes a bit to work it's way into the entire system but it does.
Lower-tier property developers in China were bitching about not getting enough juice from that intervention.
Muh property values!
Still have earnings however nothing major today and of course they made sure all the banks reported so friday can be an up day into the weekend.
Morgan Stanley dropped that bomb earlier than normal yesterday and hardly hears a thing about it anywhere.
Ag/Au remain stable but have some selling prior to market open. Ag chart is similar
$1282.xx/$15.38
love and god bless back to you anon
NFLX Pre-market
348.90 -4.29 (-1.21%)
9:17AM EST
With that bomb yesterday they have arrested the initial drop on the release. It was down a bit over 4% in after-hours.
I'm sure everyone is rushing out to buy a stock that burns $15m in cash each and every day.
That model is dead. The only reason it survives is the sweet deals it gets for content acquisition. They also have a ton of off-sheet obligations to acquire it. Last I checked it was upwards of $20b.
They also never monetized it's brand. No branded clothing etc. Seems a missed opportunity.
they were doing it last night too. Mattis slide and all that as well
anyone else having issues posting graphics this morning?
US Industrial Production Jumps In December As Auto Manufacturing Surges
Despite the market collapse and sinking sentiment, Industrial Production rose more than expected in December (up 0.3% vs 0.2% exp), albeit with a downward revision for November. This was driven by a 1.1% MoM surge in Manufacturing output, the most since Feb 2018
In fact, U.S. factory production expanded in December by the most in 10 months, ending the year stronger than expected thanks to a surge in motor-vehicle output and gains across a range of other goods.
The data offer some relief after recent regional and national surveys suggested a worsening outlook for factories. While manufacturing is expected to keep growing, concerns over global growth and trade-war uncertainty may limit gains in 2019.
Production of motor vehicles increased 7.5 percent, the most since June, and other sectors with solid gains included petroleum and coal products, nonmetallic mineral products and computers and electronics. Industries with declines included machinery, textile and product mills and paper.
With the mass layoffs and plant closure that have hit since, we suspect this will not continue.
Utility output fell 6.3 percent, as warmer-than-usual temperatures reduced demand for heating.
And finally, the question is - will IP catch UP to the The Dow or The Dow catch down to IP?
___
Channel stuffing by forcing dealers to buy cars that are then reported as 'sold'. You have seen the massive amounts of inventory that the auto dealers have…those are already reported as sold.
see here:
https://economyandmarkets.com/economy/general-motors-channel-stuffing-their-sales/
All of them do it world-wide
https://www.zerohedge.com/news/2019-01-18/us-industrial-production-jumps-december-auto-manufacturing-surges
Netflix, Inc. (NFLX)
NasdaqGS - NasdaqGS Real Time Price.
344.08-9.11 (-2.58%)
As of 9:44AM EST.
This is getting heavily sold and the order flow is being slowed imo. Ugly spikey chart so far.
top kek!
Tell Billionaire CEO Jamie Dimon He’s The Reason Why America’s Small Businesses Are Dying
The live stream of Jamie Dimon’s address (watch below) at the NY Economic Club opens with the billionaire CEO of JP Morgan Chase pointing out a dearth of activity from American small business entrepreneurs over the last ten years since the Wall Street financial crisis:
“Small business formation is lower than it’s ever been in the United States in recovery. This recovery is ten years long, a little over 20 percent. It’s the most anemic recovery from a major recession we’ve ever had. It should have been 40 percent.”
Yeah, maybe because Wall Street financiers have been hogging up so much capital and credit since 2008 through massive federal subsidies.
Like the $700 billion Wall Street Bailout, the Troubled Asset Relief Program, which Nancy Pelosi and George W. Bush teamed up to help pass.
That is 140x more money than the border fence appropriation that has the government tangled up in a record 26-day long shutdown.
Maybe it’s because last year the federal government raised taxes on upper-middle-class income earners by eliminating the federal tax deduction for state and local taxes.
That’s why House Speaker Paul Ryan (R-WI) and Senate Majority Leader Mitch McConnell (R-KY) had to walk back promises that the Republican tax bill wouldn’t increase taxes on any Americans.
And this ended up being a tax increase on a stratum of income earners that those small business entrepreneurs are aiming at sliding into with a successful small business.
Starting a small business and really making it into something that’s truly thriving involves taking risks and venturing time, and work, and money, and energy, toward the possibility of a big payoff.
But tax increases like this reduce the reward for taking all of those risks and succeeding by bringing something really valuable to the market. That’s stifling to entrepreneurship.
And meanwhile when Wall Street banks take exorbitant risks, if they don’t pay off, the finance industry gets a big bailout from the federal government on the back of a small business.
Maybe it’s because of the monetary brinksmanship of the Federal Reserve bank in expanding the Adjusted Monetary Base by a factor of nearly 5x from 2008 to 2015.
To lend all that new money to Wall Street banks at a discount.
A radical experiment with a nation’s money to put it in the most charitable terms. And what you see described in the graph above by the U.S. Federal Reserve Bank of St. Louis is one of the major reasons why so much money has bailed out of institutional finance and into cryptocurrency.
Which has ironically driven the creation of many small businesses by enterprising cryptocurrency engineers and entrepreneurs. In 2017 cryptocurrency startups secured nearly a billion dollars in venture capital in 300 different deals.
rest at link
https://www.ccn.com/tell-billionaire-ceo-jamie-dimon-hes-the-reason-why-americas-small-businesses-are-dying/
i member.
was on a plane in 2009 out of JFK and they had some puff piece on the tv and it was him and cramer. Balled up a napkin and threw it at the screen. Steward came over and asked if there was a problem. "no problems sir..just missed the garbage can".
Later the same one confided in the back that they had to say something about that. They agreed though.
He has fucked this country up so much. Most know very little.
Stein
notable
Netflix, Inc. (NFLX)
338.13-15.06 (-4.20%)
As of 10:30AM EST. Market open.
the order flow here is awful. Can't get out of it's own way.