We have had an eventful past couple of days:
*On the Geopolitical front, things are still very unsettled:
President Trump Impeachment proceedings are now upon us. This is about politics and will just serve to further divide the nation. He won’t be removed from office. This is a distraction that will make for headlines, and may weigh on the equity markets. Speaker Pelosi, has been trying to avoid starting impeachment proceeds, that she knows most likely will not lead anywhere and the question is, will this hurt the President or will it strengthen his hand going into the 2020 election in November?
Supreme Court ruling on Brexit reopens Parliament. After Boris was handed a unanimous defeat, stay tuned for his next move. BBC coverage of Parliament should be interesting viewing!
Check out these two world leaders!
*The Conference Board’s consumer confidence indicator came in lower, although still at a high level.
Consumer expectations came in lower at 95.8 from 112 last month
Decline among Americans over 55 was sharp
The Richmond Fed’s regional manufacturing index came in below expectations
Factory orders in the U.S. declined in September, Manufacturers are less optimistic about future business
The recent data tends to point to a slowing economy, and more uncertainty about future growth for the business community in the U.S.
U.S. new home sales for August, market expects a rise to an annual pace of 660,000 from 635,000 last month
Market will want to see a bounce due to lower rates, as housing has been a drag on the economy the past 6 months.
|Ticker||Date Opened||Entry Price||Stop||Target Price||Current Price||% Change|
|Long Mowi ASA||2019/09/20||210.50||205.00||218.00||206.80||-1.76%|
|Short DNB ASA||2019/09/23||162.90||166.00||150.00||156.85||+3.71%|
– Mark W