Market Weekly: Sep 04-Sep-08-2017

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    N. Korea believed to have conducted 6th nuclear test

    South Korea calls national security meeting after earthquake of magnitude 6.3 detected near a North Korean testing area


    Bitcoin topped $5,000 over the weekend, surpassing another key milestone and bringing its year-to-date return to almost 420%.

    Prices have since dropped as much as $400, which may be linked to some substantial BTC holders selling large blocks.


    Stocks in Asia had closed down on Monday, with South Korea’s Kospi falling 1.19 percent to close at 2,329.65. The Nikkei 225 tumbled 0.93 percent, or 183.22 points, to close at 19,508.25; Hang Seng -1%; Sensex -0.9%. European markets also declined, with the pan-European Stoxx 600 erasing 0.52 percent by the market close.


    ^^^ +3s and thank you for look ahead at the coming week


    [b][color=red][size=5]MINUS 260 — PPPPPLLLLUUUNNNGGGEEEE
    OHHHH THE HUMANITY[/size][/color][/b]


    July Factory Orders: -3.3% vs. -3.2% consensus and -3.2% prior (revised).

    August TD Ameritrade Investor Movement Index: 7.45 vs. 7.09 in July.
    an all-time high, increasing 5.1% to 7.45 as TD Ameritrade clients were net buyers of equities.

    It’s very possible that our rate hikes over the past 18 months are leading to slower job growth, leaving more people on the sidelines, leading to lower wage growth, and leading to lower inflation and inflation expectations,” says Minneapolis Fed President Neel Kashkari.

    “These premature rate hikes that we are embarking on, they’re not free, and I think we need to remind ourselves of that.”

    A voter on the FOMC this year, Kashkari dissented against the March and June rate hikes.


    United Technologies ($UTX) has reached a deal to buy Rockwell Collins ($COL) for $30B

    the biggest-ever aerospace deal


    At the close

    Dow -1.07% to 21,753.24. S&P -0.76% to 2,457.62. Nasdaq -0.93% to 6,375.57.
    Treasurys: 30-year +0.96%. 10-yr +0.42%. 5-yr +0.26%.
    Commodities: Crude +2.75% to $48.59. Gold +1.11% to $1,345.21.
    Currencies: Euro +0.18% vs. dollar. Yen -0.84%. Pound -0.8%.


    Houston businessman Tilman Fertitta agrees to buy Rockets for record $2.2 billion


    [b][size=6]Summer Box-Office Debacle:
    Moviegoing Hits 25-Year Low as Revenue Plummets[/size][/b]

    Revenue plummeted 14.6 percent to $3.83 billion, tying with summer 2014 to mark the worst year-over-year decline in modern history, according to final numbers released Tuesday by comScore. When adjusting for inflation, it’s even worse.

    To boot, it is the first time since 2006 that overall revenue didn’t reach $4 billion.

    The downturn in attendance was even more alarming. Roughly 430 million consumers went to the movies between May 5 and Labor Day, by far the worst showing in at least 25 years.

    Heading into summer, the domestic box office was running comfortably ahead of 2016. Now, it is down more than 6 percent from the same time period last year.


    Moody’s and S&P both placed UTX on review for a one-notch downgrade, with the former saying the company may have to increase “reliance on inherently uncertain earnings growth to moderate leverage… The time to decrease leverage to United Technologies’ current levels could be lengthy.”

    [quote=”Assistanc3″ post=1314]United Technologies ($UTX) has reached a deal to buy Rockwell Collins ($COL) for $30B

    the biggest-ever aerospace deal[/quote]


    Australia Q2 GDP YoY, 1.8% vs. 1.8% expected
    Australia Q2 GDP QoQ, 0.8% vs. 0.8% expected

    Eurozone Markit Retail PMI Aug: 50.8 (prev 51)

    Germany Factory Orders Jul
    MoM : -0.70% (est 0.20%; prev rev 0.90%)
    WDA YoY : 5.00% (est 5.80%; prev 5.10%

    Italy Retail Sales July
    MoM: -0.20% (est -0.20%; prev 0.60%
    YoY: 0.00% (est 1.20%; prev rev 1.3%)


    BoC Raises Key Rate 25bps to 1%

    Canadian dollar hits 2 year high


    July ISM Non-Manufacturing Index: 55.3 vs. 55.8 expected, 53.9 prior.
    Business activity 57.5% vs 55.9.
    New Orders 57.1% vs 55.1%.
    Employment 56.2% vs 53.6%

    Aug. US PMI Services Index: 56.0 vs. 56.9 consensus, 54.7 prior.

    Redbook Chain Store Sales: +4.4% Y/Y vs. +4.3% last week.
    Month-to-date sales up 4.4% through September 2.
    September sales are expected to increase 4.3%.

    July International trade: -$43.7B vs. -$44.6B expected and -$43.5B (revised) prior.
    Exports: $194.4B
    Imports: $238.1B

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