Analytics, 25 September 2019
Daily comment Sep 26
Daily comment Sep 26
- Wall St opens lower amid political and trade uncertainty
- BIDU +3.4%, to reduce stake in Ctrip
- FB -1.7% on DoJ antitrust probe
- Whistleblower letter “appears credible”
- US and Japan signed partial trade deal
- Fed to increase REPO operations to $100bn
- WTI -0.8%
Market movers:
- Baidu (+3.4%): The Co. will reduce its stake in Ctrip.com to 13% raising ~$1bn. (https://bit.ly/2liR65m)
- Facebook (-1.7%): The US department of Justice will open an antitrust investigation against FB. (https://reut.rs/2lIhTZf)
- Huawei’s CEO said that the company would be willing to license its 5G technology to a US firm. (https://reut.rs/2lUuJDG)
- Peloton priced its IPO at $29/sh, the high end of the expected range. The offering values the fitness bicycle maker at $8.1bn. (https://cnb.cx/2nkFwYc)
Macro:
- The call transcript with Ukrainian president revealed Trump’s asking for Biden son’s investigation. (https://on.wsj.com/2mKbU63)
- Meanwhile, The Intelligence community admitted complaint letter against US president to be credible. (https://bloom.bg/2lXxR1u)
- Donald Trump said a trade deal with China could be reached sooner than expected. (https://reut.rs/2liHDek)
- Fed would increase the size of repo operations to $100bn from $75bn. (https://on.wsj.com/2mOAWRO)
- US and Japan signed a limited trade agreement that cuts tariffs on US farm products and Japanese industrial goods. (https://on.wsj.com/2nvFk8z)
- WTO will authorize the US to impose tariffs on ~$8bn EU goods due to state aid to Airbus. (https://bloom.bg/2mUpPXf)
Commodities:
- WTI (-0.8%): US imposed penalties against some Chinese tanker firms for carrying Iranian crude after sanction waivers expired. (https://bit.ly/2lu5o3q)
Coming up:
- On Fri (9/27) -US Core PCE data is due.