Dow fell 13, advancers over decliners about 5-4 & NAZ went up 36. The MLP index gained 2+ to the 256s & the REIT index was even at 382. Junk bond funds fluctuated & Treasuries rose in price. Oil crawled higher in the 55s & gold was steady at 1425.
AMJ (Alerian MLP Index tracking fund)
Wall Street rises ahead of jam-packed week of 2Q earnings
US debt ceiling and budget deal ‘near final’; suspends ceiling for 2 years: Source
Iranian officials said that 17 people have been captured who were allegedly spies working for the US Central Intelligence Agency. The Iranian Intelligence Ministry held a briefing today where they announced the alleged spies were Iranian citizens but trained by the CIA. Some of those arrested have been sentenced to death, the Intelligence Ministry added. It was not immediately clear when they were arrested. US officials have not yet responded to the allegations. The Iranian gov occasionally makes similar claims & it was not immediately possible to determine whether they are legitimate. The US gov never acknowledges CIA recruitment abroad.
Iranian officials say 17 alleged US spies captured, some sentenced to death
club.ino.com/trend/analysis/stock/HAL?a_aid=CD3289&a_bid=6ae5b6f7
Earnings week is just beginning. Meanwhile tensions in the Mideast are high & rising. Safe haven gold & Treasuries are treading water with all that is going on
Dow Jones Industrials
AMJ (Alerian MLP Index tracking fund)
| CL=F | Crude Oil | 56.16 | +0.53 | +1.0% |
| GC=F | Gold | 1,428.50 | +1.80 | +0.1% |
The top three US stock exchanges opened with marginal increases ahead of a jam-packed week of Q2 earnings & amid continued investor optimism that the Federal Reserve is poised
to lower interest rates, though potentially less than previously
thought. 79% of S&P 500 companies exceed earnings expectations, according to FactSet. Hopes are still high that the Federal Reserve will cut interest rates at its upcoming Jul meeting. Several
officials at the central bank have suggested as much over the past few
weeks, including Chair Jerome Powell, but more cautious wording is
suggesting to investors & other experts that the Fed may lower rates
by a qtr of a percentage point, less than the ½-basis point some
were predicting. A closely watched indicator of the central bank's sentiment, lists
the possibility for a 25-point cut at 75.5%.
Wall Street rises ahead of jam-packed week of 2Q earnings
The White House & congressional Dems have
moved close to a budget deal that would raise the US debt ceiling for 2 years, a source close to the talks said. An agreement to
prevent the US from hitting its borrowing limit & stop gov
funding from lapsing is “near final,” the leaker said, & remaining talks
relate to “technical language issues.” The
developing deal would suspend the debt ceiling thru Jul 31, 2021.
It would permanently end the sequester, automatic across the board
spending cuts. A sequester would have taken effect in Jan without
congressional action. The budget agreement would include parity between increases in
defense spending & domestic, non-defense outlays — a priority for
House Speaker Nancy Pelosi. It would also have $75B in spending
offsets, measures conservatives have backed. Lawmakers have
scrambled to strike a deal before they leave for their Aug recess. Treasury Secretary Steve Mnuchin warns the US could run out of cash
to pay its bills by Sep, setting up the potential for default on
the federal debt. In addition, the gov will shut down if
Congress cannot pass a spending bill by Sep 30. While a default would
reverberate throughout the global economy & financial markets, a
temporary gov funding lapse could drag on US economic growth.
US debt ceiling and budget deal ‘near final’; suspends ceiling for 2 years: Source
Iranian officials said that 17 people have been captured who were allegedly spies working for the US Central Intelligence Agency. The Iranian Intelligence Ministry held a briefing today where they announced the alleged spies were Iranian citizens but trained by the CIA. Some of those arrested have been sentenced to death, the Intelligence Ministry added. It was not immediately clear when they were arrested. US officials have not yet responded to the allegations. The Iranian gov occasionally makes similar claims & it was not immediately possible to determine whether they are legitimate. The US gov never acknowledges CIA recruitment abroad.
Iranian officials say 17 alleged US spies captured, some sentenced to death
Halliburton
(HAL) reported a drop in Q2 net income to $75M. The results were impacted by asset impairment & severance charges. EPS was 9¢, but adjusted for asset impairment costs, was 35¢. That beat
expectations for 30¢. "Halliburton's
execution in the second quarter was outstanding and I am pleased with
our results. We continue to build on the growth momentum internationally
and successfully manage the market dynamics in North America,"
commented Jeff Miller, CEO. "Total company
revenue was $5.9 billion and adjusted operating income was $550 million,
representing increases of 3% and 29%, respectively, compared to the
first quarter of 2019." The provider of
drilling services to oil & gas operators posted revenue of $5.93M, falling short of forecast for $5.97B. The stock added 1.25.
If you would like to learn more about HAL, click on this link:club.ino.com/trend/analysis/stock/HAL?a_aid=CD3289&a_bid=6ae5b6f7
Halliburton profit slumps 85% on charges
Earnings week is just beginning. Meanwhile tensions in the Mideast are high & rising. Safe haven gold & Treasuries are treading water with all that is going on
Dow Jones Industrials
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