• [stock-market-ticker symbols="AAPL;MSFT;GOOG;HPQ;^SPX;^DJI;LSE:BAG" stockExchange="NYSENasdaq" width"100%" palette="financial-light"]

    Dow Back Over 27,000, All Eyes On ECB Tomorrow, Oil Down Again Post-Bolton

    September 11, 2019
    No Comments
    Will Mario Draghi and the ECB cut rates? Screenshot: YouTube

    Stocks Rise On Several Indicators

    The DJIA is enjoying its sixth straight day of gains, up 0.41%. The NASDAQ is leading the major indexes, up 0.88%, and the S&P 500 is up 0.51%. The gains come on several bits of news:

    First, China has waived 25% tariffs on 16 U.S. products. This marks the first time Beijing has given concessions since the trade war began. Investors viewed the move as a small but hopeful gesture. The products do not include soybeans or meat, so the impact on markets was minimal.

    Rates markets were fairly sidelined awaiting the most watched European Central Bank (ECB) meeting tomorrow. Global equities continued the rally that's been in play for the last week as additional monetary stimulus is widely expected from the ECB in the form of a 10 basis point cut, according to economists polled by CD Media.

    Oil Continues To Lose

    Geopolitics keeps oil front and center as it continues its decline begun yesterday after John Bolton was fired from his National Security Adviser position after 18 months. Shedding some light on the tumult around yesterday's decision, President Trump made comments indicating that he had "weighed easing Iran sanctions," and that conversation prompted pushback from Bolton that culminated in the loss of his job.

    Brent crude futures are down 2% on the day, and off 4.5% since the Bolton news was announced midday on Tuesday.



    CDM Staff

    The mission at Creative Destruction Media is to be the catalyst for the "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one."
  • Subscribe
    Notify of

    Inline Feedbacks
    View all comments


  • Subscribe to our evening newsletter to stay informed during these challenging times!!