Archives of “July 2019” month

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Trump voices displeasure over Iran breaching uranium stockpile limit

  
Analysis, Politics
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More sanctions to follow?

US Iran

Trump tweets:

Iran was violating the 150 Billion Dollar (plus 1.8 Billion Dollar in CASH) Nuclear Deal with the United States, and others who paid NOTHING, long before I became President – and they have now breached their stockpile limit. Not good!

This comes after the International Atomic Energy Agency confirmed overnight that Iran has now exceeded its supposedly agreed stockpile limit of low-enriched uranium, which breaches one of the key points in the 2015 nuclear deal.
Even so, reports say that Iran is still a long way off from being able to produce a bomb but when you see Trump tweet something like this, it’s never too long before something happens again amid escalating tensions between the two countries.

Here are the two latest Trump nominations for the Federal Reserve Board

  
  Analysis

His prior picks of Moore and Cain failed, but these the latest two

Christopher Waller
  • executive vice president at the Federal Reserve Bank of St. Louis
  • worked at the Bank since 2009
  • previously was a chair of economics at the University of Notre Dame and a chair in macroeconomics and monetary theory at the University of Kentucky
Judy Shelton
  • economic advisor to the president during his 2016 campaign
  • has a doctorate in business administration from the University of Utah
  • In a recent interview Shelton said that if appointed, she’d lower interest rates to 0% in one to two years. Sounds like she doesn’t much care that the C in FOMC is a committee, but there you go.
waller shelton

The bottom falls out of oil again

  
Analysis, Crude
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Fresh lows for WTI

It’s turned into a brutal day for oil. WTI is now down nearly 5% as another wave of selling hits into the settlement.
It’s legged lower in another quick move to $56.30 from $57.15. It had been propped up by some laughably bad geopolitical rumors but it’s rolled over again into the floor.
Fresh lows for WTI
The settlement is $56.25, down just shy of $3 per barrel.
As traders we often fret about the markets humbling us, but the same market just humbled OPEC, who ostensibly has more control over it than anyone.

S&P closes higher. That means it is another record close.

  
Analysis, US Market
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Major indices rise modestly on the day in up and down session

The S&P is closing higher. Since yesterday was a record high, that means today is a record as well (that analysis is pretty simple).
The Nasdaq remains below it’s record close at 8163.99.  The high today reached 8109.36 – near the closing level for the day.

The final numbers are showing:

  • The S&P index rose 8.68 points or 0.29% at $1413.56
  • The Nasdaq index rose 17.931 points or 0.22% at 8109.09
  • The Dow rose by 69.25 points or 0.26% at 26786.68
Looking at the % changes and % high/low levels, the major US stock are all closing at/near the highs for the day.   European shares (apart from the Portugal PSI20) closed higher as well.
Some winners today:
  • Verizon, +2.61%
  • Cisco, +1.95%
  • McDonald’s, +1.53%
  • Gilead, +1.49%
  • MasterCard, +1.41%
  • Delta Airlines, +1.33%
  • alphabetic, +1.15%
  • Facebook, +1.04%
  • Pfizer, +1.03%
  • Intuit,, 0.81%
  • visa, +0.78%
  • Microsoft, +0.66%
  • Walt Disney, +0.64%
  • Amazon, +0.63%
  • Apple, +0.59%
Some losers on the day include:
  • Nvidia, -2.37%
  • Beyond Meat, -1.88%
  • Chewy, -1.87%
  • Broadcom, -1.67%
  • Chevron, -1.52%
  • Charles Schwab, -1.42%
  • Dow DuPont, -1.31%
  • micron, -1.27%
  • Tesla, -1.15%
  • Exxon Mobil, -1.06%
  • Wells Fargo, -0.96%
  • Bank of America, -0.95%
  • Box, -0.91%
  • QUALCOMM, -0.66%
  • Boeing, -0.62%

 

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