Market Weekly: Dec 4 Dec 8 2017

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    This weeks U.S. market data includes Durable goods and factory…



    should be another interesting week


    ^^^^ +3 and THANK YOU to our editor-and-chief for excellent insights for next week … another big concern is whether USA GOVT will shutdown for spending too much $$$ and going over budget … But we’ve been doing that for years without concern, so why worry now?


    DOW FUTURES UP OVER 200 on SENATE passage of TAX REFORM bill


    Markets were robust during morning hours, but some backing & filling occurred later as DOW closed 58 points higher & NASDAQ was down about 75 points … This morning more of a flat opening by the big 3

    Dow Jones 24,326.96 +36.91 (0.15%)
    S&P 500 2,640.46 +1.02 (0.04%)
    Nasdaq 6,770.43 -4.93 (-0.07%)


    The board of the Richmond Fed has named senior McKinsey & Co. executive Thomas Barkin as its next president. He’s succeeding Jeffrey Lacker, who resigned earlier this year amid his involvement in 2012 leak of confidential information.

    Somewhat notable is that this is the first time the Richmond Fed has brought in somebody from outside the bank as its president.

    Barkin will have a vote on the FOMC next year.


    At an event in Hawaii, Microsoft $MSFT showed new laptops from Asus and HP with Qualcomm’s Snapdragon 835 chips that use ARM’s architecture. The PCs have a modem for LTE connectivity, so they don’t have to exclusively rely on WiFi networks.

    Terry Myerson, executive vice president of Microsoft’s Windows and devices group, told CNBC that he uses his Asus NovaGo “always connected” convertible laptop for a week at a time on a single charge. That’s very unusual at a time when most laptop and tablet batteries won’t last longer than a day.


    Trade Deficit Widens 8.5%
    US Oct. International trade: -$48.7B vs. -$47.4B expected and -$44.9B prior.

    Imports climbed 1.6% to $244.6b, boosted by mobile phones, apparel, household goods and service-related purchases
    Exports were unchanged at $195.9b as more shipments of petroleum were offset by declines of capital equipment, consumer goods

    The latest report also showed record imports from China led to a wider trade gap, $31.9 billion from $29.9 billion
    Shipments from Mexico were also the highest ever, causing the U.S. gap with that country to expand in October, $6 billion from $5.1 billion


    PPPLLLUUNNNGGEEE … DOW down -100 at close :ohmy: which is about 0.4% these days πŸ˜‰ πŸ™‚ Mainly some shifting between value & growth … and movement from TECH to BANKs yesterday (as we are in year-end cyclical rotations of funds (where some profit taking is underway also) … All down days are GOOD ones long term πŸ™‚


    At the close
    Dow -0.46% to 24,177.51. S&P -0.35% to 2,630.72. Nasdaq -0.19% to 6,762.40.
    Treasurys: 30-year +0.39%. 10-yr +0.07%. 5-yr -0.01%.
    Commodities: Crude +0.26% to $57.62. Gold -0.63% to $1,269.70.
    Currencies: Euro -0.33% vs. dollar. Yen +0.13%. Pound +0.23%.


    Time is moving so quickly – it’s hard to sometimes land on the right thread for week … but all is good — as I’m right there with you πŸ™‚

    Markets are holding up well as we need some year end re-alignment … and even major risks like FED GOVT shutdown are being worked on (and that is actually more of benefit than risk) … as in Back to Future III – some of Doc Brown’s WAKE-UP juice may be in order πŸ˜‰ πŸ™‚ Best news of all is that rifle season ended DEC 2nd in SW VA — so that rest of HERD will be a little safer in the archery & final specialty seasons ahead πŸ™‚


    [size=5]PPPLLLUUUNNNGGGEEE …. For Wednesday, DOW & NASDAQ futures are both down TRIPLE DIGITS as some backing & filling in investment strategies for new 2018 calendar year are in process (and all sorts of geopolitical risks are still out there as well)


    jeeze I post in the wrong market thread and the indexes just couldn’t handle it πŸ˜›


    6:00 AM ET
    Japan -1.97%.
    Hong Kong -2.14%.
    China -0.29%.
    India -0.63%.
    London -0.12%.
    Paris -0.59%.
    Frankfurt -0.79%.


    Samsung Heavy Industries plunged the most on record in Seoul trading after forecasting surprise losses and announcing a share sale plan, underscoring the bleak outlook for the global shipbuilding industry.

    The world’s third-largest shipbuilder said Wednesday it plans to raise 1.5 trillion won (S$1.86 billion) by selling new shares in a rights offering. Samsung Heavy, saddled with 3.3 trillion won of short-term debt, expects demand for new vessels and offshore projects to continue shrinking and that will push the company into losses this year and next, compared with analyst estimates for a profit.

    Shares of Seongnam, South Korea-based Samsung Heavy plunged 29 per cent to close at 8,960 won in Seoul, giving it a market value of about US$3.2 billion. Hyundai Heavy declined 6.2 per cent and Daewoo Shipbuilding dropped 2.8 per cent.

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