Today's Headlines
Bloomberg:
- Global Growth Less Synchronized, More Uncertain, G-20 Draft Says.
- Iran Warns Trump Not to Threaten Country's Oil Exports.
- China's Luck on Yuan Devaluation Risks Running Out on Trump Ire.
- Mnuchin Sees No Chance for Currency War Despite Trump Tweets.
- Mexico's President-Elect Calls for Nafta Agreement in Letter to Trump.
- Analysts Are Downgrading China's Small Banks at Record Pace.
- Bank of Korea Sees Possible Impact From China Deleveraging Plan.
- BOJ Debating How to Keep Policy Sustainable, Reduce Side Effects.
- Asia Stocks Face Mixed Start; Dollar Holds Loss: Markets Wrap. Asian stocks looked set for a mixed start to the week after President Donald Trump threw trade tensions back to the forefront of investor concerns and traders awaited guidance from a flurry of upcoming company earnings. Futures signaled small declines for equities in Japan and Australia, while contracts in Hong Kong pointed to gains. The dollar was hit on Friday and Treasuries fell after Trump said he’s “ready to go” with additional import tariffs and that China, the European Union and others have been manipulating their currencies and interest rates. The offshore yuan was steady after last week’s slide. In Japan, government bond yields are in focus after a slide in futures during U.S. trading Friday on speculation over the central bank’s policy intentions. Futures on Japan’s Nikkei 225 slipped 0.6 percent. Futures on Australia’s S&P/ASX 200 declined 0.3 percent. Futures on Hong Kong’s Hang Seng advanced 0.3 percent.
- Five Things You Need to Know to Start Your Day.
Wall Street Journal:
MarketWatch.com:- Prolonged Slump in Bond Liquidity Rattles Investors.
- China Targets Apple With Push Into Advanced Screens.
- Meat Piles Up in U.S. Warehouses.
- Trade Fight Poses Big Risks for Smaller Countries.
- Syrian Rescuers Evacuated as Assad Tightens Grip on Rebel Areas.
- Costs Are Crashing the Party for Manufacturers.
- 2.5 Billion Pounds of Meat Piles Up in U.S. as Exports Slow.
- Officials’ Stark Warnings on Russia Diverge From White House View.
Fox News:
Zero Hedge:
- Clapper: Obama Was Behind The Whole Thing.
- "Hoax From The Beginning": Carter Page FISA Application Exposes Flimsy Underpinnings Of FBI "Witch Hunt".
- As Firms Buy-Back Shares In Record Amounts, Look Who Was Selling.
- Iran Warns Trump Not To Cut Off Oil Exports, Threatens "Mother Of All Wars".
-
This Is What Happens Behind Closed Doors When U.S. Presidents Meet With Fed Chairs.
- Six Reasons Why Credit Suisse Is Very Worried About China's Economy.
Business Insider:
- One woman killed, gunman in custody after hostage standoff inside Los Angeles-area Trader Joe's, police say.
- Meet the campaigners who will stop at nothing in their quest to tear Facebook apart.
- Amazon quietly signed a $5.5 billion deal to sell its products to American cities — here are some of the biggest spenders.
- The US housing gap is at a 3-year low — but data suggests that's about to reverse.
- Mexico's president-elect wrote Trump a 7-page letter vowing to reduce migration to the US.
Night Trading
- Asian indices are -.5% to unch. on average.
- Asia Ex-Japan Investment Grade CDS Index 86.50 -1.5 basis points.
- Asia Pacific Sovereign CDS Index 13.0 unch.
- Bloomberg Emerging Markets Currency Index 69.71 +.09%.
- FTSE 100 futures -.12%
- S&P 500 futures +.12%.
- NASDAQ 100 futures +.12%.
Earnings of Note
Company/Estimate
Before the Open:
Before the Open:
- (CALM)/1.48
- (HAL)/.59
- (HAS)/.34
- (ITW)/1.97
After the Close:
- (GOOG)/9.83
- (BRO)/.28
- (OI)/.75
- (STLD)/1.49
- (AMTD).79
- (VMI)/1.94
- (WERN)/.50
- (WHR)/3.66
8:30 pm EST
- The Chicago Fed National Activity Index for June is estimated to rise to .3 versus -.15 in May.
- Existing Home Sales for June is estimated to rise to 5.44M versus 5.43M in May.
- None of note
- The Eurozone Consumer Confidence report could also impact trading today.
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