These Moves By China Will Cause Even Further Dislocations!
Source: http://www.bloomberg.com/news/articles/2016-01-05/china-said-to-intervene-in-stock-market-after-590-billion-rout
Well that was yucky!
We read somewhere the Atlanta Fed cut its GDP forecast for Q4 to 0.7%…which is a big drop from Q3. That means Yellen raised rates into a real slowdown. The Fed waited years to raise rates and they do it while commodities crash, China slumps, markets are in trouble and GDP is cut. Thrilling! Short…
The Morning Look
Stock Market Overview: U.S. stock futures are down again as the world digests Monday’s sharp world-wide sell-off. Economic data is relatively thin today with the focus being on motor vehicle sales. Gary has expressed caution and has been telling you about how the market has been getting weaker not stronger over much of 2015. Leadership continues to…
U.S. Factory Activity Falls Deeper into Contraction @FoxBusiness
http://www.foxbusiness.com/economy-policy/2016/01/04/us-manufacturing-falls-deeper-into-contraction-territory/?intcmp=marketfeatures
DOJ Files Civil Complaint Against Volkswagen @FoxBusiness
http://www.foxbusiness.com/industries/2016/01/04/doj-files-civil-complaint-against-vw/?intcmp=marketfeatures
Stocks Facing Bigger Issue Than Chinese Slowdown @FoxBusiness
www.foxbusiness./markets/2016/01/04/stocks-facing-bigger-issue-than-chinese-slow-down/?intcmp=marketfeatures
Fed’s Williams Unfazed by China @FoxBusiness
http://www.foxbusiness.com/business-leaders/2016/01/04/fed-williams-unfazed-by-china-sees-3-5-rate-hikes-this-year/?intcmp=bigtopmarketfeatures
$GM invests $500 million in Lyft, sets out self-driving car partnership
http://www.reuters.com/article/us-gm-lyft-investment-idUSKBN0UI1A820160104
Required Reading Of The Day
Stocks Fall Hard Across The Globe Obama tightens gun rules, requires more background checks Obama administration asks top court to reject Texas abortion law South China Sea tensions surge as China lands plane on artificial island Exclusive: Dalian Wanda clinches deal for Legendary Entertainment – source
The Closing Look
Stock Market Commentary: Stocks tanked on Monday after a new round of selling began in China. Overnight, Chinese stocks plunged a whopping 7% which triggered a world wide sell-off across the globe. Stocks in China were halted after new circuit breakers were introduced today. Monday was the first trading day for the month, quarter and year and…