16.08.2019 - Market today

16.08.2019 - Market today

According to Reuters, Wall Street’s three main indexes are down at least 1.5% since last Friday, on track to rack up their third consecutive week of losses, as investors worried about the risk of recession and U.S.-China trade tensions. China’s state planner said overnight that it would roll out a plan to boost disposable income...
Argentine stocks near default? Index falls more than 35 percent

Argentine stocks near default? Index falls more than 35 percent

According to Bloomberg, The surprise outcome in Argentina’s primary vote roiled the nation’s financial markets, sending the S&P Merval Index plunging 48% in dollar terms. Source: Bloomberg Suddenly, fears of a full-blown financial crisis in Argentina have once again come rushing to the fore In the wake of President Mauricio Macri’s stunning rout in primary...
Will we see 2 more rate cuts?

Will we see 2 more rate cuts?

As late as last December, Goldman was expecting four rate hikes in 2019. Then, as recently as mid-June, the "smartest men in the Goldman room", did not expect the Fed to cut rates at all in July and September. Of course, all that changed when it became clear that "Powell has thrown in the towel",...
New tarrifs on the way

New tarrifs on the way

According to zerohedge, Earlier today we reported that contrary to the conventional wisdom that Trump blasted off his 1pm China tariff tweet - in which he single-handedly ended the ceasefire between the US and China when he unveiled 10% tariffs on $300BN in Chinese imports starting September - on his own, instead a number of...
Lufthansa falls more than 5 percent after bad data

Lufthansa falls more than 5 percent after bad data

According to CNBC, German airline Lufthansa on Tuesday posted a decline in second-quarter earnings, hurt by price competition on short-haul routes in Germany and Austria as well as rising fuel costs. The company said in a statement that adjusted earnings before interest and tax (EBIT) fell to 754 million euros ($839.73 million), compared to 1...