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U.S. trade deficit narrows in April; labor market strong
WASHINGTON (Reuters) - The U.S. trade deficit unexpectedly narrowed in April as imports of goods dropped to a 15-month low, which could support the economy as it slows after a temporary boost from exports and an accumulation of inventories early this year.
Other data on Thursday showed the number of Americans filing applications for unemployment benefits was unchanged, suggesting the labor market remains resilient despite the moderation in economic activity.
The Commerce Department said the trade deficit fell 2.1% to $50.8 billion in April. Data for March was revised up to show the trade gap increasing to $51.9 billion instead of the previously reported $50.0 billion. The government revised trade data from 2014. Economists polled by Reuters had forecast the trade gap would widen to $50.7 billion in April.
The goods trade deficit with China, a focus of President Donald Trump’s “America First” agenda, increased 29.7% to $26.9 billion. Trump in early May escalated the trade fight with China, slapping additional tariffs of up to 25% on $200 billion of Chinese goods, which prompted retaliation by Beijing.
While Washington has secured a trade pact with Mexico and Canada, there are fears it could be scuttled by Trump’s announcement last week that he would impose a tariff on all goods from Mexico in a bid to stem the tide of illegal immigration across the U.S.-Mexican border. The tariff would start at 5% on June 10.
In April, goods imports fell 2.5% to $208.7 billion, the lowest level since January 2018. Imports fell broadly in April. Imports of consumer goods dropped $1.1 billion. There were also decreases in imports of motor vehicles and capital goods. Weak imports could be flagging weak domestic demand.
Goods exports dropped 3.1% to $136.9 billion. The percentage decline was the largest since January 2015. Civilian aircraft exports plunged $2.3 billion. Boeing in March suspended deliveries of its 737 MAX jet after the aircraft was grounded indefinitely following two deadly crashes in five months. Production of the troubled plane has been cut.
There were also decreases in exports of consumer goods and motor vehicles. Exports of soybeans fell in April and further declines are likely following the recent heightening of tensions between Washington and Beijing.
China, the world’s biggest buyer of soybeans, has previously targeted the crop in the trade war, only relenting when trade negotiations appeared to be progressing.
When adjusted for inflation, the goods trade deficit fell to $81.9 billion in April from $83.00 billion in the prior month. The drop in the so-called real goods trade deficit suggested that trade could add to economic growth.
rest at link
https://www.reuters.com/article/us-usa-economy-trade/u-s-trade-deficit-narrows-in-april-labor-market-strong-idUSKCN1T71LA
Snap CEO sold $17.52m in Shares- June 3
Snap Inc. is a camera company. The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company provides Camera, Friends Page, Discover, Snap Map, Memories and Spectacles. Snapchat opens directly into the Camera, helping in creating a Snap and sending it to friends. It offers a range of creative tools that enables people to personalize and add content to their Snaps. Its chat services includes creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of stickers and Bitmojis. Memories enable users to create Snaps and stories from their saved snaps, as well as their camera roll. It also offers Spectacles, its sunglasses that make Snap. The Company’s advertising products include Snap Ads and Sponsored Creative Tools, such as Sponsored Lenses and Sponsored Geofilters.
Number of employees : 2 884 people.
https://www.marketscreener.com/SNAP-INC-34091150/company/
https://www.secform4.com/insider-trading/1564408.htm
Tesla Director Antonio Gracias Has Now Dumped Almost All Of His Personal Stock
Despite no real formal updated delivery guidance for Q2 and yesterday's conveniently leaked article to electrek claiming "new record 'sales numbers'", Tesla board member and long time friend of Elon Musk, Antonio Gracias, hasn't stopped spraying the open market with his personal stock holdings.
A Form 4 filed on 6/5/2019 shows that Gracias again blew out stock between $177.70 and $185.70 after exercising options. As some noted, this Form 4 says that Gracias now has just 466 shares left personally, and that his remaining shares are held in funds.
As you can see from the below chart, Gracias' sale follows a long line of insider selling from Tesla executives since late last year.
Gracias and other long-time top Musk lieutenant, JB Straubel, have been selling, collectively, over $50 million in stock since last November. Reminder, we wrote days ago that Straubel's office presence at Tesla was reported to be "scarce".
Others noted that the pace that Gracias is selling at would leave his funds with no stock left to sell by "early 2020".
Elon’s BFF (and Tesla Director) Gracias continues to unload his $TSLA stock on schedule. At this rate his fund will be out completely in early-2020.
The board of directors and the company itself can do everything they want to try to and posture to make it look as though everything is fine at the company, but the stock sales from insiders at Tesla continue to allude to a different story.
And who are the bagholders for these sales? Despite retail traders on Robinhood religiously buying the dip….there was one other person who recently agreed to buy stock as part of the company's recent financing- See Cap#4
https://www.zerohedge.com/news/2019-06-06/tesla-director-antonio-gracias-has-now-dumped-almost-all-his-personal-stock
https://www.secform4.com/insider-trading/1318605.htm