Wall Street Breakfast August 21: Central Bank Cues Awaited
Welcome to seeking alpha's wall street breakfast. Your daily source of market news and analysis subscribe to this podcast on apple podcasts google podcasts spotify defy in stitcher. Today is wednesday august twenty first and i'm your host steve brown our top stories today central bank possible tax cuts and teaming up on big tech leading today's news this week central bank fest begins with minutes. That's from the fed's recent policy meeting when officials voted to lower interest rates for the first time since two thousand eight graders will look for signs of disagreement and clues to what the central bank might do next. That's followed by tomorrow's e._c._b. Minutes and the jackson hole symposium on friday were the focus will turn to fed chair jerome powell tone and signals of further easing ahead ahead of the action. Dow futures are up by one hundred seventy three points while the s&p five hundred and nasdaq futures are appointed percent and point nine percent respectively in other news. President trump is considering potential tax cuts on wages as well as profits from asset sales while seeking to downplay concerns the world's top economy could be heading for a recession a quote payroll taxes something we think about he told reporters adding that he would not need congressional approval to link capital gains texas to inflation quote. I'm not talking about doing anything at this moment but indexing is something that a lot of people have liked for a long time the d._o._j. Has confirmed it is working with a group of more than a dozen state attorneys general as it moved forward with a broad investigation of big tech. Previously approved acquisitions are part the broad antitrust review on july twenty third the justice department said it was opening abroad investigation into whether major digital technology firms engaged in anticompetitive. If practices including concerns raised about quote search social media and some retail services online a day after unveiling being anew solar panel rental program tesla is facing some heat walmart has sued the company over solar panels atop seven of its stores that allegedly caught fire and highlighted the familial so you'll ties between tesla and solar city as the underpinnings of a flawed merger that produced shoddy craftsmanship when tesla acquired solar city in two thousand sixteen the two point point six billion dollar deal was criticized by many as a bailout for elon musk the biggest shareholder of both the electric car maker and the solar panel distributor amid growing asian political unrest alibaba has delayed its fifteen million dollar listing in hong kong reuters reports. The financial community is watching while no new <unk> timetable has been formerly set. Alibaba could deal as early as october just last month a._b. Inbev cancelled a plan nine point eight billion dollar local i._p._o. Of it's asia pacific unit while the hong kong exchanges lagged behind its new york rivals in the annual battle to be the leading global listings of new italian all you media reports are again talking about the chrysler renault merger bringing new rumors about negotiations between the two companies to achieve the goal the french government could have their interests the nissan thus convincing the japanese company to accept its alliance partner joining the f._c._a. Group the news will likely give the better european auto sector some relief amid recent threats from president the trump the tariff the industry boeing is hiring hundreds of temporary workers to assist with aircraft maintenance and customer delivery preparations of park seven thirty-seven max jets at grant county international airport in washington state. It's the first publicly detailed steps to deliver hundreds of grounded planes. The airlines all over the world boeing also reiterated plans to get the seven thirty seven max flying again commercially early q. four wins approval of reprogram software for its m._c._a._s. system top japanese and american negotiators will meet in washington over the next few days in a last-minute attempt to compromise on beef and car exports to conclude a trade radio by september. The time line is important in the context of the political calendar as president trump is eager for a swift deal with tangible benefits to american farmers ahead of the u._s. Presidential campaign in two thousand twenty japan also needs the final text of a deal by september in order to obtain parliamentary approval put any trae pack into effect this year ear. Australia is joining a u._s. Led naval coalition to protect shipping in the gulf where tensions have mounted after iran sees the british flag doc thinker in the strait of hormuz in july the country will contribute defence planning and operations staff to the coalition including royal australian air force poseidon surveillance aircraft and a royal australian navy frigate about fifteen percent of crude oil and twenty five to thirty percent of refined oil justin for australia transits through the gulf politicians from five star and former italian prime minister matteo enzi center-left democratic party are discussing forming a new coalition that would push matteo aubenas league party into the opposition italian government bonds rallied yesterday after prime minister giuseppi conti resigned from the government though italian stocks fell again as has analysts called the situation a quote total mess italy's debt-to-gdp ratio currently tops a hundred and thirty one percent the highest in europe with the exception of greece while while the government has continued to risk and overshoot of e you mandated deficit spending levels as six twenty pm today u._s. futures and crude oil or all set to open in the green with gold slightly down on today's economic calendar existing home sales are out at ten a._m. Eastern time that concludes today's wall street breakfast thank you for listening for the best investment analysis and news on the web go to seeking dot com subscribe to this podcast on apple podcasts google podcasts spotify and stitcher. You can sign up for our other podcasts behind the idea essay for f.a.s.t. Let's talk e._t._f.'s the cannabis investing podcast and marketplace roundtable on those platforms as well have a great day.