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Market Update – Monday 08/05/19 4:00 PM EDT

The SkyNet SellBots were out in full force all day as the US-China trade war escalated another couple of notches.

The BuyBots made a token appearance in the last hour of trading to cut into the day’s massive losses, but it was wasn’t much more than the proverbial Dead Cad Bounce. The DJIA ended down 767 points (2.9%) and the NASDAQ plunged 278 points (3.5%).

Stock Markets Take Another Hit As The Trade War With China Heats Up

There may be much more red ink tomorrow as the stock futures are down sharply again in overnight trading.

Stay tuned as the battle of the SkyNet StockBots continues.

08/12/19 – Tyler Durden: 3 Charts Confirming The Global Economy Is Already In Recession

Over the weekend, it finally dawned on Goldman that a protracted trade war – which it not really a trade but a defining clash of the world’s two most advanced superpowers – is bad for the US economy. Yes, the bank which for the longest time was expecting 4 rate hikes this year and for the US-China “trade war” to magically end with an amicable handshake and a hug some time in the next few months, and which only changed its forecast to a rate cut after Powell said he would engage in “mid-cycle easing”, has now once again flip-flopped and in a report published on Saturday warned that it now expects a “bigger hit from the trade war” for the US economy. Read More.

Market Update – Friday 08/02/19 4:00 PM EDT

It was another wild roller coaster ride for US stocks, as the SkyNet SellBots kept up the recent pressure at the open of trading on Wall Street. At precisely 11:00 AM EDT (“funny” how that happens), the BuyBots stepped in to start a rally into the close and cut the day’s losses in half or more. The DJIA ended down 98 points (0.4%) and the NASDAQ tanked 107 points (1.3%).

Stay tuned as the battle of the SkyNet StockBots continues.

08/08/19 – Alasdair Macleod: Deeply negative nominal rates are on their way

Growing evidence of a severe global recession is sure to provoke more aggressive monetary policies from central banks. They had hoped to have the leeway to cut interest rates significantly after normalising them. That hasn’t happened. Consequently, as the recession intensifies central banks will see no alternative to deeper negative nominal rates to keep their governments and banks afloat through a combination of eliminating borrowing costs and inflating bond prices. It will be the last throw of the fiat-money dice and, if pursued, will ultimately end in the death of them. Gold and bitcoin prices are now beginning to detect deeper negative rates and the adverse consequences for fiat currencies. Read More.

Market Update – Thursday 08/01/19 4:00 PM EDT

It was a wild roller coaster ride on Wall Street today, as the SkyNet BuyBots mounted a strong rebound from yesterday’s Fed-induced drop. At precisely 1:15 PM EDT (“funny” how that happens), Donald Trump put an end to the rally by announcing new tariffs on China.

Trump says US adding more tariffs on China

The SellBots jumped on the news, sending US stocks sharply lower within minutes of the statement. The DJIA plunged 280 points (1.0%) and the NASDAQ tanked 64 points (0.8%).

Stay tuned as the battle of the SkyNet StockBots continues.

08/07/19 – Brandon Smith: This Is The Same Pattern The Fed Followed Before The Great Depression

There is immense confusion surrounding July’s Federal Reserve meeting and the rather insane aftermath that has been spurred on in the trade war. The Fed’s latest rate decision of a mere .25 bps cut was seen as “disappointing”, this was then followed by Jerome Powell’s public statements making it clear that this was only a mid-year “adjustment”, and that it was not the beginning of a rate cutting cycle and certainly not the beginning of renewed QE. Read More.

Market Update – Wednesday 07/31/19 4:00 PM EDT

 The SkyNet StockBots held their ground until Fed Head Jerome Powell surprised the markets with a less than assuring statement about future interest rate cuts.

Fed Chairman Powell says rate move was a ‘midcycle adjustment,’

The SellBots jumped on the news, sending US stocks sharply lower within minutes of the statement. The DJIA plunged 334 points (1.2%) and the NASDAQ tanked 98 points (1.2%).

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update – Tuesday 07/30/19 4:00 PM EDT

The SkyNet SellBots had the advantage in the overnight futures session, sending US stocks lower at the open of trading on Wall Street. From there, stocks zigged and zagged their way higher, to cut the day’s losses. The DJIA closed down 23 points (0.1%) and the NASDAQ dropped 20 points (0.2%).

Stay tuned as the battle of the SkyNet StockBots continues.

08/06/19 – Jpachim Fels: Interest Rates: Naturally Negative?

It is no longer absurd to think that the nominal yield on U.S. Treasury securities could go negative. Last week the German 30-year government bond yield dipped into negative territory for the first time ever. Around $14 trillion of outstanding bonds worldwide, or 25% of the market, now trade at negative yields, according to Bloomberg. What was once viewed as a short-term aberration – that creditors are paying debtors for taking their money – has already become commonplace in developed markets outside of the U.S. Read More.

08/05/19 – Michael Snyder: China Just Went Nuclear In The Trade War, And There Is No Turning Back Now

When will Americans start to wake up and realize what is happening? At the end of last week, President Trump announced that the U.S. would be imposing a 10 percent tariff on 300 billion dollars worth of Chinese imports, and that marked a dramatic escalation in our trade war with China. This move by Trump came as a total shock to Chinese officials, and global financial markets were thrown into a state of turmoil. Read More.

08/05/19 – Tyler Durden: Meanwhile, Inside The Plunge Protection Team: Chaos

It was almost ten years ago that we first profiled the most important trading desk in the world: not one situated in any of the (increasingly empty) massive trading floors of the world’s commercial banks located in either the financial district, midtown or Connecticut, but the one inside the 9th floor of 33 Liberty Street, the home New York Fed, the one which is also known in trader folklore as the “Plunge Protection Team.” Read More.

Market Update – Monday 07/29/19 4:00 PM EDT

The SkyNet StockBots delivered a split performance, as US stocks zigged and zagged throughout the day. The DJIA gained 29 points (0.1%) but the NASDAQ dropped 37 points (0.4%).

Stay tuned as the battle of the SkyNet StockBots continues

08/02/19 – Patti Domm: Perfect summer storm brewing for stock correction as trade war simmers and more Fed action awaited

With new risks from trade wars, stocks head into the final weeks of summer vulnerable to a pull back or even correction. The market was down sharply in the past week, buffeted first by disappointment over the Fed’s more hawkish-than-expected policy outlook. Then they were beaten down by fears President Donald Trump is starting a new front in the trade wars with China that is unlikely to end any time soon. Read More.

Market Update – Friday 07/26/19 4:00 PM EDT

US stocks got a pop from the SkyNet BuyBots at the open of trading on Wall Street, and kept on going to close near the highs of the day. The DJIA gained 51 points (0.2%) and the NASDAQ jumped 91 points (1.1%).

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update – Thursday 07/25/19 4:00 PM EDT

The SkyNet SellBots ruled the day, sending US stock down sharply at the opening of trading. From there, stocks zigged and zagged to close near the lows of the day. The DJIA dropped 129 points (0.5%) and the NASDAQ tanked 83 points (1.0%).

Stay tuned as the battle of the SkyNet StockBots continues.

Market Update – Wednesday 07/24/19 4:00 PM EDT

It was a split personality day for US stocks as the SkyNet StockBots hammered DJIA stock Boeing and bought just about everything else. The DJIA dropped 79 points (0.3%) but the NASDAQ jumped 70 points (0.8%).

Stay tuned as the battle of the SkyNet StockBots continues.