Trade talks between China & the US are still ongoing and a trade deal has not been drafted yet. However, the trade deadline (March 1st) could be moved, according to a US White House senior official. Uncertainties about another government shutdown increases.
- U.S. Markets weekly performance
- Dow Jones: +0.17%
- S&P 500: +0.05%
- The Dow Jones has now been up for seven straight weeks.
- Google beat earnings expectations with net revenue of $31.33 billion (up 21% year-to-year).
- Spotify has generated a profit for the first time in its 10-year history.
- Disney beat earnings expectations. Its growth was mainly driven by Disney’s domestic parks. Its growth is expected to continue with its new streaming service project, Disney+, competing with Netflix.
- Regional banks, SunTrust and BB&T, merged for a total amount of $66 billion.
- Twitter stock price tumbled by 10% despite better than expected earnings and revenue.
- Fiat-Chrysler posted a weak outlook for 2019. The automaker reported weak sales in North America, the world’s biggest auto market.
- The tractor-trailer indicator shows a 3-month decline in new truck orders. Historically, this data is an indicator of how healthy the US economy is.
- The National Retail Federation predicts a rise between 3.8% to 4.4% in consumer spending this year. The government shutdown, the trade war between the two biggest economies of the world could alter that forecast.
- The former chair of the Federal Reserve, Janet Yellen, said in an interview that the Fed might cut interest rate if the US economy weakens or financial conditions tighten.
- The EU slashes growth forecasts for all the euro area’s major economies, warning that Brexit and a China slowdown may make things worse.
- Bill Gross, aka the “Bond King”, is retiring from investment firm Janus Henderson. He wants to focus on managing his personal assets and charitable foundation.