Deutsche Bank to pay $95 million to end U.S. tax fraud case
http://www.reuters.com/article/us-deutsche-bank-lawsuit-idUSKBN14O26X
Tesla starts battery cell production at gigafactory
http://www.reuters.com/article/us-tesla-gigafactory-idUSKBN14O1OK
Fed policymakers agree Trump fiscal boost poses inflation risk
http://www.reuters.com/article/us-usa-fed-minutes-idUSKBN14O20D
The Closing Look
Stocks rallied on Wednesday after the Fed minutes showed they are concerned about a stronger dollar. Mortgage applications fell by 12% last week, from two weeks earlier as rising interest rates hurt. Separately, Fiat Chrysler, Ford Motor and General Motors all reported better-than-expected auto sales for December, which helped their stocks rally. U.S. auto sales for…
US private sector created 153K jobs in December, vs 170K expected: ADP @FoxBusiness
http://www.foxbusiness.com/markets/2017/01/05/private-sector-added-153000-jobs-in-december.html
U.S. December auto sales surprisingly strong, 2016 sets new high
http://www.reuters.com/article/us-usa-autos-idUSKBN14O1H4
Thursday’s Pre-Market Look: Stocks In The News Before The Open
Macy’s (M) sank almost 10% in pre-market trading after it cut its 2017 EPS forecast to $2.95-$3.10 from a prior view of $3.15-$3.40 and said it plans to close 68 stores and cut 6,200 jobs. Kohl’s (KSS) tumbled over 13% in pre-market trading after it said comparable same-store sales fell -2.1% y/y in the fiscal…
Oil prices firm on U.S. crude inventory fall, record car sales
http://www.reuters.com/article/us-global-oil-idUSKBN14P02C
The Morning Look
Market Update: Stock futures are lower before Thursday’s open as traders wait for Friday’s jobs report. Gary’s Thoughts: Futures down just a bit but Macys yonked…Kohls yonked, LB, JWN, JCP and other big retailers smacked….big retailers continue to lag. We suspect there will be many more store closings in the years ahead. Macys just announced…
U.S. Labor department sues Google for compensation data
http://www.reuters.com/article/us-alphabet-lawsuit-idUSKBN14O2D9