Archives of “October 29, 2019” day

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US House of Representatives looking likely to move forward on the Trump impeachment – here’s what you need to know.

  
Analysis, Politics

I reckon need to know number 1 is Trump is unlikely to end up being impeached. IMO anyway.

But, before the final decision is made here is a good summary of the process that’ll unfold via AFP. A decent guide, not a legal text, K?
I reckon need to know number 1 is Trump is unlikely to end up being impeached. IMO anyway.
As for market impact … dunno. But I suspect not a lot. Again, IMO.

Federal Reserve FOMC decision due Wednesday – preview

  
  Analysis
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Via Société Générale, in brief:
  • Fed… likely to cut
  • A more favourable economic outlook, however, suggest two things: First, that recent rate cuts were offered only as an insurance policy and second, that the Fed is likely to pause on any further rate moves. 
  • We see any such pause as short lived. 
  • By spring 2020, economic evidence should, in our view, compel further rate cuts.
  • Balance sheet details are also a key item.
Federal Open Market Committee meet Wednesday 30 October 2019 

US Senator plans legislation to block US govt pensions from investing in Chinese stocks

  
  Analysis
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Senator Marco Rubio want legislation to block the Federal Retirement Thrift Investment Board from investing in Chinese stocks

  • The Board delayed a decision on switching the benchmark for its $50 billion TSP I Fund to mirror an index with Chinese assets
  • for at least two weeks
  • Rubio said he would introduce bipartisan legislation “to ensure that federal retirement savings can never be a source of wealth funding the Chinese Communist Party at the expense of our nation’s future prosperity”

Tudor Jones says stocks would drop 25% on a Warren presidential win

  
Analysis, US Market
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Paul Tudor Jones says that a win from Elizabeth Warren in the US 2020 presidential election would prompt a 25% drop in the S&P500.

  • Cites concerns over her proposed wealth tax
PTJ was speaking at a conference on Monday in NY, Bloomberg report citing people familiar with his presentation. 
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warren is a contender for the Dem nomination. 

S&P index closes at an all time record. Nasdaq trades above record close.

  
Analysis, US Market

Nasdaq can’t stay above the record close level

The S&P index is closing at an all-time record high. The NASDAQ index traded above the all-time record close, but backed off into the close. The index also failed to reach the all-time intraday high price at 8339.64. The high for the day reached 8335.56

The final numbers are showing:

  • S&P index up 16.87 points or 0.56% at 3039.42
  • NASDAQ index up 82.86 points or 1.01% at 8325.98
  • Dow up 132.66 points or 0.49% at 27090.72
In after hours trading Alphabet earnings missed although revenues beat marginally.
Earnings-per-share $10.12 versus $12.42 estimate
Revenues $40.5 billion versus $40.32 billion estimate
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