Wall Street Breakfast August 14: Trade War Blink Or U.S. Consumer Wink?
Welcome to seeking alpha wall street breakfast your daily source of market news and analysis subscribe to this podcast on apple podcasts google podcasts just spotify stitcher today is wednesday august fourteenth and i'm your host steve brown and i'm thrilled to announce that according to chargeable the wall all street breakfast podcast recently claimed the number one spot in apple podcasts business news category thank you to all of you are dedicated listeners for making this possible our top stories today trae or blink or u._s. Consumer wink negative yields in the u._s. and earning season not over yet leading today's news tariff relief lead to big gains for wall street on tuesday but u._s. Futures are pointing to losses of point five percent it as weaker than expected data from china and germany dimmed the global outlook yesterday the u._s. trade representative announced that new ten percent tariffs originally scheduled to go into effect september one would be delayed until december fifteen for some consumer items while other products are being removed from the new tariff list altogether due to quote health insecurity factors president trump later told reporters that his decision to delay the duties was to avoid an impact on christmas shopping in other news former fed chairman alan greenspan said nothing is stopping the u._s. from getting sucked into the global trend of negative yielding debt adding that quote zero. Oh has no meaning besides being a certain level with global central banks engaging an unprecedented monetary easing a record fifteen trillion dollars of government bonds. Now trade at negative yields yields the u. s. china trade war is also putting pressure on the ten year treasury note which nearly inverted on tuesday with the two year treasury note a historic recession indicator ninety percent of s. p. five hundred companies have already reported q two results but there is still plenty to watch this week particularly retail and e commerce players after surprisingly strong earnings from j. D. dot com on tuesday. Macy's will release quarterly figures today while walmart j._c. Penney alibaba will report tomorrow. Analysts expect consumer discretionary and consumer stable prophets to fall this quarter with categories like multi line retailers in food products walks among the biggest decliners a seasonal slowdown and trade tensions saw china posted weakest industrial output growth since two thousand two which rose four point eight percent in july from a year ago adding to the case to roll out more stimulus retails also slumped while fixed asset investment slowed further push for trade talks following the data and delay to the next trench u._s. Tariffs chinese officials stuck to plans to visit washington september for face to face meetings trading the shares m._s._c._i. Hong kong e._t._f. E w h the largest fund trucking hong kong stocks jumped to a five year high on tuesday with twenty five million shares trading hands in new york as riot police clashed with pro democracy protesters and the hong kong airport returned to com e w h ended the session the green though the one point four billion dollar fund has lost about forty percent of its assets since june tensions are still running high with president trump's stoking fears yesterday about possible intervention from chinese troops massing at the border europe's largest economy contracted acted by point one percent in the second quarter as global tensions put pressure on its export driven manufacturing sector chancellor angela merkel said the economy was entering a quote vote difficult phase adding quote. We will react depending on the situation. A closely watched survey of investors yesterday. Found german economic sentiment had plummeted to its the lowest level since the euro zone crisis in twenty eleven. The newly combined viacom c._v._s. will invest in more movies and t._v. Shows as it it seeks to challenge the disney and net flicks in the streaming business. Viacom owns the paramount pictures movie studio and pay tv channels such as comedy central mtv and b. e. t. eh while c._b._s. Has a broadcast network television stations showtime and a stake in the c._w. Network the two companies have spent more than thirteen billion combined in the past year close to the estimated fifteen billion net flicks intends to spend in twenty nineteen facebook confirmed it has been transcribing audio clips of its users in messenger but stop using human review quote more than a week ago. Only those who opted into the feature had their audio clips reviewed by third party contractors according to the company but it support page states that even if one person in a chat considered any audio would have been translated regardless of whose senate dissolving tech giants will be challenging with the might be the best action to restore market competition according to f._c._c. chairman joe simmons who is leading the agency's tech sector review for antitrust violations amazon and alphabet are common targets of antitrust investigations both domestically and overseas the f._t._c. is also investigating vesting facebook as six twenty a._m. Today u._s. futures crude oil and gold or all set to open in the red on today's economic allender e._i._a. Petroleum inventories are out at ten thirty 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 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 cast and marketplace roundtable on those platforms as well have a great day.