dChan
Anonymous ID: 8190ab May 7, 2019, 5:06 a.m. No.6436239   🗄️.is 🔗kun

Pompeo Snubs Merkel With Last-Minute Cancellation

 

As tensions with Iran reach a boiling point and Washington looks ready to walk away from trade talks with China, Secretary of State Mike Pompeo apparently wanted to make sure the US's European 'allies' know their place.

According to Bloomberg, Pompeo scrapped plans for a Tuesday meeting with German Chancellor Angela Merkel and Foreign Minister Heiko Maas, citing unspecified "pressing issues."

 

"Unfortunately, we must reschedule the Berlin meetings due to pressing issues. We look forward to rescheduling this important set of meetings. The Secretary looks forward to being in Berlin soon," according to a statement from the State Department that was relayed to the American embassy.

 

Merkel issued a brief statement saying the joint appearance had been cancelled because of the "cancellation by the US side."

 

Pompeo was in the region to attend talks in Finland, where he warned China and Russia against pursuing "aggressive" actions in the Arctic, while resisting a diplomatic push by other countries in the region to take steps to curb climate change. He also met with his Russian counterpart, Foreign Minister Sergei Lavrov.

 

Those speculating about the reason for the cancellation have a veritable buffet of US gripes to choose from. These include: Germany’s decision to balk at banning Huawei from its 5G network, US criticisms of the Nord Stream 2 gas pipeline, and Trump’s persistent NATO bashing, which has largely focused on Germany's not spending enough on defense.

 

Juergen Hardt, a lawmaker in Merkel’s Christian Democratic Union, insisted that Pompeo's cancellation wasn't a snub.

 

Though he added that "it’s a pity that this meeting isn’t taking place."

https://www.zerohedge.com/news/2019-05-07/pompeo-snubs-merkel-last-minute-cancellation

Anonymous ID: 8190ab May 7, 2019, 5:25 a.m. No.6436279   🗄️.is 🔗kun

Futures Drop As Traders Brace For Trade War Impact

There was renewed turbulence in global markets overnight, which however eased modestly following Monday's rollercoaster, after the late Tuesday shock confirmation by USTR Lighthizer that the US would indeed hike tariffs at midnight on Friday even as China's top trade negotiator Liu He confirmed he was headed to the US for what may prove to be a futile trip. And, like yesterday, stocks in Europe and Asia dropped alongside U.S. equity-index futures as a slew of trade headlines continued to roil traders around the globe. The dollar edged higher and Treasury yields were steady, while Turkey’s lira plunged as concerns about its politics erupted again.

Europe's Stoxx 600 Index fell to a five-week low as declines for banks and oil producers outweighed gains for real-estate companies; the index slumped to session lows just after 7am ET, falling as much as 0.6% with energy shares among the worst performing industry groups as crude extended losses. The SXEP was down 1.2%, tracking oil lower as Saudi Arabia was reported to supply extra crude to its customers in Asia.

To be sure, the drop could be worse, but many investors continue to hope that the tariff threats are a negotiating tactic, especially as Beijing confirmed its top negotiator, Vice Premier Liu He, would go to Washington on Thursday and Friday as planned.

(think this deal get's done by Xi and POTUS-personally, this is a sideshow)

the drop is not worse because, as mentioned in the afternoon report, these bank's and institutions are so highly levered into the markets the cannot afford much of any "down-look for a repeat of yesterday however oil is down on decent volume so anything possible.

See what they do with the 10 year-watch the line just above where it's at now-cap#4.

Earlier in the session, Asian stocks edged lower, led by industrial and technology firms, after slumping on trade tensions Monday. MSCI’s broadest global and Asian indexes had largely held their ground overnight, though Japan’s Nikkei did take a delayed 1.5 percent hit, having been closed for over a week. Markets in the region were mixed, with China advancing and Japan and South Korea retreating. The Topix fell 1.1% as Japanese traders returned from a long holiday break.

 

However, the highlight of the overnight session was once again the Turkish lira, which was back under heavy fire after the country’s elections board ruled to scrap and re-run Istanbul elections. It slid 1.5% past the 6.15 per dollar which also sent government bonds tumbling.

Market Snapshot

 

S&P 500 futures down 0.4% to 2,922.25

STOXX Europe 600 down 0.3% to 385.68

MXAP down 0.1% to 160.85

MXAPJ up 0.3% to 531.93

Nikkei down 1.5% to 21,923.72

Topix down 1.1% to 1,599.84

Hang Seng Index up 0.5% to 29,363.02

Shanghai Composite up 0.7% to 2,926.39

Sensex down 0.04% to 38,583.72

Australia S&P/ASX 200 up 0.2% to 6,295.68

Kospi down 0.9% to 2,176.99

German 10Y yield fell 1.7 bps to -0.011%

Euro up 0.01% to $1.1200

Italian 10Y yield rose 1.8 bps to 2.208%

Spanish 10Y yield fell 2.3 bps to 0.961%

Brent futures down 0.9% to $70.57/bbl

Gold spot little changed at $1,281.23

U.S. Dollar Index little changed at 97.53

 

US Event Calendar

 

10am: JOLTS Job Openings, est. 7,350,

prior 7,087

3pm: Consumer Credit, est. $16.0b, prior

$15.2b

 

https://www.zerohedge.com/news/2019-05-07/futures-resume-slide-traders-brace-trade-war-impact

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

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

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

Anonymous ID: 8190ab May 7, 2019, 5:46 a.m. No.6436325   🗄️.is 🔗kun

Elon Musk Buys $25m in TSLA stock

 

'''this is window dressing for his attempt to secure outside funding.

Owns almost 34m shares of it.

 

from April 29th

Tesla says it may need to raise funds from outside sources

Company uses SEC filing to say raising ‘additional capital’ is an option down the road

https://www.mercurynews.com/2019/04/29/tesla-says-it-may-need-to-raise-funds-from-outside-sources/

Cap #1/2 sauce

https://www.secform4.com/insider-trading/1318605.htm

Anonymous ID: 8190ab May 7, 2019, 6:04 a.m. No.6436377   🗄️.is 🔗kun   >>6474 >>6519

Volkswagen unit Porsche to pay 535 million euro fine over diesel cheating

 

BERLIN/FRANKFURT (Reuters) - German prosecutors imposed a 535 million euro ($598 million) fine on German luxury carmaker Porsche AG, a unit of Volkswagen, as punishment for lapses in supervisory duties which allowed the company to cheat diesel emissions tests.

 

Prosecutors in the southern city of Stuttgart on Tuesday said that the company’s development department had neglected its legal obligations, which ultimately led to the sale of diesel cars that spewed excessive pollution levels.

 

The fine against Porsche follows a 1 billion euro penalty for management lapses imposed against Volkswagen by prosecutors in Braunschweig, and a fine of 800 million euros against Audi by prosecutors in Munich, Germany last year.

 

U.S. authorities disclosed Volkswagen’s systematic emissions cheating on Sept. 18, 2015, sparking the biggest business scandal in the company’s history which has cost Volkswagen Group 30 billion euros in penalties and fines.

 

VW, Porsche and Audi all sold diesel engine cars which failed to conform to clean air rules and cheated emissions tests.

 

German prosecutors have pursued individual engineers and took action against the companies for lack of oversight because managers failed to prevent heavily polluting cars from hitting European roads.

 

Prosecutors said Porsche had not appealed the findings by the prosecutor.

 

Porsche confirmed the fine and said that prosecutors’ proceedings against the company had come to an end.

 

The fine does not hinder ongoing proceedings against individual people in relation to Porsche’s diesel manipulations, the prosecutors added.

https://www.reuters.com/article/us-volkswagen-emissions-porsche/volkswagen-unit-porsche-to-pay-535-mln-euro-fine-over-diesel-cheating-idUSKCN1SD1BA