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Anonymous ID: afbc5e April 29, 2019, 5:33 a.m. No.6357279   🗄️.is 🔗kun   >>7776

Boeing Shares are down*As FAA Turns Attention To Dreamliner Hydraulic Leakage

(*edit- a .5% drop is not a slide)

 

Ahead of Boeing CEO Dennis Muilenburg's first showdown with shareholders since the March 10 crash of Ethiopian Airlines flight 302, the FAA has drawn attention to recent reports about dangerous hydraulic leakages involving the Boeing 787, otherwise known as the 'Dreamliner'.

 

The regulator is imposing a new 'flight directive' on Dreamliners, meaning planes could be grounded if they don't undergo additional rounds of inspections and records checks to make sure parts including the aileron and elevator power control units are still working properly.

 

Shares dumped as this news added to anxieties about a weekend report about Boeing's failure to alert the FAA and Southwest, its biggest customer, that it had disabled an important safety feature on the 737 MAX 8.

Still, Boeing shares are - incredibly - still up 17% on the year.

https://www.zerohedge.com/news/2019-04-29/boeing-shares-slide-faa-turns-attention-dreamliner-hydraulic-leakage

Anonymous ID: afbc5e April 29, 2019, 5:48 a.m. No.6357361   🗄️.is 🔗kun

US Futures Drift Lower As Chinese Stocks Extend Worst Drop Of 2019

 

US equity futures and European bourses drifted lower, failing to carry over Asian optimism into Monday trading, while Chinese stocks extended the worst weekly loss of 2019 with another 0.8% drop to start the week despite profits at Chinese industrial firms growing for the first time in four months and a strong GDP print, if only superficially, on Friday. Most European markets were mostly in the red, with Italy sliding despite S&P reaffirming Italy's BBB rating late on Friday, while the dollar rose alongside US Treasury yields, while the yen slumped as Japan remains closed for a week-long holiday.

The MSCI All-Country World Index was flat after the start of European trading, lifted higher by Asian markets (ex China) but pressured by poor European trading. After rising initially, the Stoxx 600 dropped to session lows while the Spain’s IBEX 35 index underperformed peers, down over half a percent after Prime Minister Pedro Sanchez overcame a challenge from nationalists in elections on Sunday. The elections had little immediate impact on the country’s bond market. Shares in Italian banks got a boost and Italian government bonds rallied after S&P Global affirmed Italy’s sovereign credit rating.

 

Also in Europe, the ECB reported that Eurozone credit growth decelerated markedly despite decent M3 growth, as loan growth to firms decreased to 3.5% in March from 3.8% in Feb, while loans to households stood at 3.2% in March, down from 3.3% in Feb.

 

Earlier in the session, a similar see-saw pattern was observed in Chinese stocks, which initially moved higher but closed near session lows, down 0.8% after losing 5.6% last week, the worst of 2019.

The latest Chinese data showed industrial profits grew in March after four months of contraction, but analysts said sentiment remained fragile. Economists polled by Reuters expect factory activity in the world’s second largest economy to grow at a steady but modest pace in April.

Market Snapshot

 

S&P 500 futures down 0.1% at 2,939

STOXX Europe 600 up 0.1% to 391.55

MXAP up 0.3% to 162.56

MXAPJ up 0.5% to 540.49

Nikkei down 0.2% to 22,258.73

Topix down 0.2% to 1,617.93

Hang Seng Index up 1% to 29,892.81

Shanghai Composite down 0.8% to

3,062.50

Sensex up 0.9% to 39,067.33

Australia S&P/ASX 200 down 0.4% to

6,359.49

Kospi up 1.7% to 2,216.43

German 10Y yield rose 1.5 bps to -0.007%

Euro up 0.07% to $1.1159

Brent Futures down 0.7% to $71.67/bbl

Italian 10Y yield fell 10.3 bps to 2.213%

Spanish 10Y yield fell 1.9 bps to 1.005%

Brent Futures down 0.7% at $71.67/bbl

Gold spot down 0.4% at $1,281.70

U.S. Dollar Index down 0.02% at 97.98

 

US Event (data) Calendar

 

8:30am: Personal Income, est. 0.4%, prior

0.2%

8:30am: Personal Spending, est. 0.7%; Real

Personal Spending, est. 0.3%

8:30am: PCE Deflator MoM, est. 0.3%; PCE

Deflator YoY, est. 1.6%

8:30am: PCE Core Deflator MoM, est. 0.1%;

PCE Core Deflator YoY, est. 1.7%

10:30am: Dallas Fed Manf. Activity, est. 10,

prior 8.3

 

In commodities, Brent (-0.9%) and WTI (-0.5%) prices are subdued in reaction to US President Trump’s comments on Friday that he contacted OPEC and told them to lower oil prices; although, there were subsequent reports that OPEC or Saudi officials have not spoken to President Trump regarding oil prices. However, some of the downside was mitigated by the Baker Hughes total rig count which fell by 21, with oil rigs falling by 20 to 805 in the steepest decline since January. Regarding the Iranian waivers a Trump Official says there is no wind down period or short-term waiver being considered for China’s oil purchases from Iran, and that it should be easy for China to comply as business with the US is more important for them than Iran. Elsewhere, sources report that exports of Nigeria’s Amenam crude oil is currently under a force majeure; these exports are operated by Total and typically equal 100k BPD. Gold (-0.3%) is marginally weaker, although the yellow metal is trading within a relatively narrow USD 5/oz range. After the metal printed its biggest daily gain in over a month on Friday, following US data which was disappointing in-spite of the larger than expected headline GDP print of 3.2%. Elsewhere, China’s Iron and Steel association stated that the industry is at risk from excess capacity which could impact profits in the industry.

https://www.zerohedge.com/news/2019-04-29/us-futures-drift-lower-chinese-stocks-extend-worst-drop-2019

https://www.bloomberg.com/markets/stocks

https://www.marketwatch.com/investing/bond/tmubmusd10y?countrycode=bx/futures

https://www.dailyfx.com/crude-oil

Anonymous ID: afbc5e April 29, 2019, 6:20 a.m. No.6357505   🗄️.is 🔗kun   >>7630 >>7778 >>7817

U.S. consumer spending posts biggest increase since 2009

 

WASHINGTON (Reuters) - U.S. consumer spending increased by the most in more than 9-1/2 years in March, but price pressures remained muted, with a key inflation measure posting its smallest annual gain in 14 months.

The surge in consumer spending reported by the Commerce Department on Monday sets a stronger base for growth in consumption heading into the second quarter after it slowed sharply in the first three months of the year. Tame inflation, however, supports the Federal Reserve’s recent decision to suspend further interest rate increases this year.

 

Fed officials are scheduled to meet on Tuesday and Wednesday to assess the economy and deliberate on the future course of monetary policy. The U.S. central bank in March dropped forecasts for any interest rate increases this year, halting a three-year policy tightening campaign. The Fed raised borrowing costs four times in 2018.

 

Consumer spending, which accounts for more than two-thirds of U.S. economic activity, surged 0.9 percent as households stepped up purchases of motor vehicles and spent more on healthcare. Consumer spending edged up 0.1 percent in February. Data for January was revised up to show consumer spending rising 0.3 percent instead of the previously reported 0.1 percent gain.

 

The release of the February spending data was delayed by a five-week partial shutdown of the federal government that ended on Jan. 25. Economists polled by Reuters had forecast consumer spending jumping 0.7 percent in March.

 

When adjusted for inflation, consumer spending increased 0.7 percent in March. This so-called real consumer spending was unchanged in February. The data was included in last Friday’s first-quarter gross domestic product report.

 

March’s surge in real consumer spending suggested an acceleration in consumption was likely in the second quarter. Consumers spending increased at a 1.2 percent annualized rate in the first quarter, the slowest in a year. The overall economy grew at a 3.2 percent rate last quarter.

 

U.S. Treasury yields were little changed after the consumer spending and inflation data. The dollar held steady against a basket of currencies. U.S. stock index futures were trading slightly lower.

TAME INFLATION

 

In March, spending on goods rebounded 1.7 percent, with outlays on long-lasting manufactured goods such as cars shooting up 2.3 percent. Spending on goods fell 0.5 percent in February. Outlays on services increased 0.5 percent last month, driven by healthcare spending, after rising 0.4 percent in February.

 

Inflation was benign, with the personal consumption expenditures (PCE) price index excluding the volatile food and energy components unchanged in March after edging up 0.1 percent in February. That lowered the year-on-year increase in the so-called core PCE price index to 1.6 percent, the smallest increase since January 2018, from 1.7 percent in February.

 

The core PCE index is the Fed’s preferred inflation measure. It hit the central bank’s 2 percent inflation target in March last year for the first time since April 2012.

 

In March, personal income ticked up 0.1 percent after rising 0.2 percent in February. Wages rose 0.4 percent in March after advancing 0.3 percent in the prior month.

 

Savings fell to $1.03 trillion in March from $1.16 trillion in February. The saving rate dipped to 6.5 percent last month from 7.3 percent in February.

https://www.reuters.com/article/us-usa-economy/u-s-consumer-spending-posts-biggest-increase-since-2009-idUSKCN1S516T?il=0

Anonymous ID: afbc5e April 29, 2019, 6:43 a.m. No.6357647   🗄️.is 🔗kun

>>6357622

it's a bit longer now. 1200 I think, have not been to the site for a bit. Once you start reading it, it sort of make's it's own point without needing to finish the entire submission.