{"id":13268,"date":"2019-07-01T07:41:12","date_gmt":"2019-07-01T12:41:12","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=13268"},"modified":"2019-07-01T07:41:12","modified_gmt":"2019-07-01T12:41:12","slug":"before-the-open-jul-1-6","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=13268","title":{"rendered":"Before the Open (Jul 1)"},"content":{"rendered":"

Good morning. Happy Monday. Hope you had a good weekend. <\/span>
\n The Asian\/Pacific<\/strong> markets did very well. Japan, China, Taiwan and Singapore posted big gains; India, Malaysia, Thailand and the Philippines also posted gains. Europe, Africa and the Middle East<\/strong> are currently doing very well. The following are up more than 1%: the UK, Denmark, Poland, France, Turkey, Germany, Russia, South Africa, Finland, Norway, Netherlands, Belgium, Austria and Sweden. Futures in the States<\/strong> point towards a very big gap up open for the cash market. <\/span>
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\n The dollar is up. Oil and copper are up. Gold and silver are down. Bonds are down. <\/span>
\n Stories\/News from Seeking Alpha…<\/span>
\n U.S.-China trade truce relief shows in stock markets futures, which indicate strong gains at the open. Nasdaq futures gain 1.7%, while the S&P futures rise 1.1% and Dow futures point to a 274-point, or 1%, advance. Stoxx Europe 600 Index rises 0.8% in morning trading. In Asia, the Nikkei 300 Index closed up 2.1% and Shanghai Composite rose 2.2%. Crude oil surged 2.6% after Russia and Saudi Arabia agreed this weekend to extend by 6-to-9 months the OPEC+ oil supply cut deal. 10-year Treasury fell, pushing yield up 2 basis points to 2.02%.<\/span>
\n U.S.-North Korea nuclear talks on again<\/span>
\n In a quickly arranged meeting in the demilitarized zone this weekend between President Trump and Kim Jong Un, the two leaders agreed to restart talks over denuclearization. They agreed to designate nuclear negotiating teams that will begin work over the next several weeks. New working-level talks will probably start in mid-July, U.S. Secretary of State Mike Pompeo said. But the two sides don\u2019t have a common definition of denuclearization.<\/span>
\n Saving Iran nuclear deal isn\u2019t likely<\/span>
\n After talks in Vienna on Friday with the remaining signatories of the 2015 nuclear deal – Britain, France, Germany, Russia and China – Iran’s deputy foreign minister Abbas Araghchi said he would report back to Tehran on the discussions. Though a step forward, the talks didn\u2019t meet Iran\u2019s expectations, he said.<\/span>
\n Turkish lira gains as U.S. sanctions threat softens<\/span>
\n The lira jumped 1.6% against the U.S. dollar after President Trump signaled he may reassess threats to sanction Turkey if it proceeds with a Russian missile purchase. Earlier the currency rose more than 2% against the dollar to 5.6766, pushing the dollar-lira pair below its 100-day moving average. iShares MSCI Turkey ETF (NASDAQ:TUR) jumped 3.5% in premarket trading.<\/span>
\n Sony\u2019s next PlayStation keeps aim on hard-core gamers<\/span>
\n Though it\u2019s still more than a year away, Sony\u2019s (NYSE:SNE) next-generation PlayStation is marketing against newcomers like Google (GOOG, GOOGL) by playing up the latest features that hard-core gamers obsess over, the Wall Street Journal reports. It\u2019s already talking up effects like “ray trading”, which shows the play of light on characters’ faces in low-light scenes. The new system will compete against Alphabet\u2019s Stadia, Apple (NASDAQ:AAPL) Arcade, and Microsoft\u2019s (NASDAQ:MSFT) next-generation Xbox.<\/span>
\n Unrest continues in Hong Kong<\/span>
\n Protestors tried to storm Hong Kong\u2019s legislature, ramming windows as about 100 riot police warned them to stop charging or they would use force. Earlier, police beat some protesters with batons and used pepper spray to try to disperse crowds near where officials were preparing a ceremony to commemorate the city\u2019s handover back to China from the U.K. in 1997.<\/span>
\n Deutsche Bank board to meet July 7 on job cuts<\/span>
\n Deutsche Bank’s (NYSE:DB) supervisory board will meet to discuss a major restructuring at the German bank that could eliminate as many as 20,000 jobs, Reuters reports, citing people with knowledge of the matter. The German lender is also considering cuts at its management board. However, the plan is fluid and many aspects of the plan are still to be decided.<\/span>
\n Final U.S.-China trade deal no more likely, Chinese adviser says<\/span>
\n A trade truce with the U.S. reached over the weekend makes a final trade deal no more likely, according to Zhu Ning, a Chinese academic who advises the Chinese government and central bank. He likens the dispute to conflicts in Korea or Vietnam. “It could drag on and there could be no declaration of war but the skirmishes keep going,” he said on the sidelines of the World Economic Forum in Dalian on Monday.<\/span>
\n What else is happening…<\/span>
\n Blackstsone (NYSE:BX) nears sale of $1.1B of Spanish mortgages.<\/span>
\n Intelsat (NYSE:I) gets internet, mobile contract in Indonesia.<\/span>
\n Deutsche Bank (DB) plans wealth management hiring spree.<\/span>
\n BIS to establish hub to foster innovation in central banking community.<\/span>
\n DOJ extends Boeing (NYSE:BA) probe to 787 Dreamliner.<\/span>
\n Today’s Economic Calendar<\/strong>
\n 9:45 PMI Manufacturing Index
\n 10:00 ISM Manufacturing Index
\n 10:00 Construction Spending<\/span><\/span><\/span><\/span>
\nOther<\/strong>…<\/span>
\ntoday’s upgrades\/downgrades<\/a> from briefing.com<\/span>
\nthis week’s Earnings<\/a><\/span> from Morningstar<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning. Happy Monday. Hope you had a good weekend. The Asian\/Pacific markets did very well. Japan, China, Taiwan and Singapore posted big gains; India, Malaysia, Thailand and the Philippines also posted gains. Europe, Africa and the Middle East are currently doing very well. The following are up more than 1%: the UK, Denmark, Poland, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"_links":{"self":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/13268"}],"collection":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13268"}],"version-history":[{"count":0,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/13268\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}