Archives of “May 29, 2020” day
rssJesse Felder: “The economy has become much more dependent on bubbles in the capital markets.”
Major indices in Europe close sharply lower
For the week major indices close sharply higher
- German DAX, -1.6%
- France’s CAC, -1.5%
- UK’s FTSE 100, -2.5%
- Spain’s Ibex, -2.3%
- Italy’s FTSE MIB, -0.7%
- German DAX, +4.7%
- France’s CAC, +6.13%
- UK’s FTSE 100, +1.2%
- Spain’s Ibex, +6.3%
- Italy’s FTSE MIB, +5.2%
Looking at the daily chart for the German DAX, the index moved above its 100 day moving average for the 1st time since February 24 this week. That moving average currently comes in at 11559.22. The price is closing above that level trading today giving a more positive bias despite the declines on the day.. The low today in the German DAX reached 11575.74 – above that key moving average level.
Canada Q1 GDP -8.2% vs -10.0% expected
Canada first quarter GDP
- Prior was +0.3% (unrevised)
- -2.1% q/q drop
- Sharpest drop since Q1 2009
- Household spending -2.3% in Q1, worst ever
- Exports -3.0%
- Imports -2.8%
- Inventories -$3.7B
- Full report
Trump lambastes Twitter, says it is doing nothing about the lies and propaganda from China
Trump tweets out more criticism against Twitter
Twitter is doing nothing about all of the lies & propaganda being put out by China or the Radical Left Democrat Party. They have targeted Republicans, Conservatives & the President of the United States. Section 230 should be revoked by Congress. Until then, it will be regulated!
China repeats that Hong Kong is part of its internal affairs, no other country has the right to intervene
Comments by the Chinese foreign ministry
- Says that China opposes US actions, calls it ‘pure nonsense’
- Urges US to stop frivolous political manoeuvres
Can you hear me now?
Nikkei 225 closes lower by 0.18% at 21,877.89
Japanese stocks recover to end the day closer to flat levels
The market is keeping more cautious but any hints of a major risk-off play remains at bay for now, with investors all still waiting on US president Trump’s announcement on China that is to come later in the trading day.
Who’s long and short on Comex.. ‘Other’
Japan’s auto production fell in April at its fastest since 2013
Auto output fell 33% in the month.
- largest m/m fall since 2013 (based on comparable data)