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YAY – a CALM & FLAT DAY in markets so far — as hopefully VIX may stabilize … Some minor profit taking by 2 o’clock club … not even breaking “special counsel” release is keeping us from an usually quiet day in equities :woohoo: … Money never sleeps :whistle: although a few Canadians are prone to catnaps from time to time 😉
JPMorgan Chase & Co. is reportedly shopping around for an ETF business that would boost its presence in the $3.5 trillion US ETF industry.
JPM’s asset-management unit has reportedly been talking with the US business of ETF Securities. JPMorgan also spoke with Global X, a company it once held a minority stake in, though that firm entered into a definitive agreement this week to be purchased by South Korea’s Mirae Asset Management.
ETF Securities’ US unit, with about $2.8 billion in assets, specializes in precious metals and commodity exchange-traded products. The company has been in conversations with as many as 10 potential buyers, including U.K.-based Aberdeen Asset Management, and is expected to be acquired some time in the first quarter, one person said.
Rod Rosenstein on Mueller indictments: “There is no allegation in this indictment that any American was a knowing participant in this illegal activity. There is no allegation in the indictment that the charge conduct altered the outcome of the 2016 election.”
January Housing Starts: 1.326M vs. 1.232M expected, 1.209M prior (revised from 1.192M).
Building permits 1.396M vs. 1.300M expected and 1.300M prior (revised).Jan. Import/Export Prices: Import prices Index +1% vs. +0.6% consensus and +0.2% prior (revised).
Export prices +0.8% M/M vs. +0.3% consensus and +0.1% prior (revised).February Consumer Sentiment: 99.9 vs. 95.4 consensus and 95.7 prior.
Current economic conditions 115.1 vs. 112 consensus and 110.5 prior.
Index of consumer expectations 90.2 vs. 84.5 consensus and 86.3 prior.Q4 E-Commerce Retail Sales: +3.2% Q/Q vs. +3.6% in Q3.
Federal Judge Laura Taylor Swain has rejected a $550M government loan to keep Puerto Rico’s troubled electric utility in operation, saying PREPA had not looked hard enough for alternative funding.
At the close
Dow +0.07% to 25,217.05. S&P +0.04% to 2,732.92. Nasdaq -0.23% to 7,239.11.
Treasurys: 30-year +0.45%. 10-yr +0.25%. 5-yr +0.12%.
Commodities: Crude +0.57% to $61.69. Gold -0.3% to $1,351.20.
Currencies: Euro -0.78% vs. dollar. Yen +0.2%. Pound +0.61%.
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