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GLOBAL MARKETS LIVE: Cathay, Nets, GE, Deere…

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08/16/2019 | 09:35am EDT

This is a rather slow news day as the earnings season ends. After days of volatility, global markets are calming down. U.S. stock-index futures gained with European equities


S&P 500 futures up 0.9% to 2,872.75
Brent futures up 1.5% to $59.09/bbl
Gold spot down 0.7% to $1,512.71
US Dollar Index up 0.1% to 98.26


Earnings season: Deere, GreenTree Hospitality and Qudian are among companies reporting earnings today.

More calls for a rate cut within the Fed. The head of the Fed in Minneapolis, Neel Kashkari, is "leaning towards the camp of yes" because "we need to give more stimulus to the economy, more support, we need to continue the expansion and not allow a recession to hit us," he told Minnesota Public Radio. "The signals are mixed. But it's definitely a nervous time."  

Cathay Pacific’s CEO quits. The board accepted the resignation of Rupert Hogg, the CEO of the Hong Kong airline. This comes as Cathay Pacific Airways’ shares fell close to their lowest level in a decade, after China criticized the airline for letting its employees join pro-democracy protests in Hong Kong. The company threatened to fire these employees. China’s civil aviation authority has asked the company to submit information about all crew members flying to China for verification and authorization.

Joseph Tsai to acquire the Nets and Barclays Center for $3.5 billion. The co-founder of Alibaba is to take control of the Nets and their stadium. Joseph Tsai, who had already bought 49% of the Nets from Mikhail Prokhorov for $1 billion, will soon become the sole owner of the Brooklyn franchise for another $1.3 billion. The Taiwanese Canadian businessman will also buy the Barclays Center for an additional $1.2 billion.

General Electric: a $38 billion suspected fraud. General Electric has tumbled on the stock market following accusations by a whistleblower that the group had hidden several tens of billions of dollars in losses. The group formally denied it. The conglomerate is accused of hiding $38.1 billion in potential losses and its cash position is allegedly much worse than its accounts suggest.

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING 1.14% 182.51 Delayed Quote.33.15%
CATHAY PACIFIC AIRWAYS LTD -1.36% 10.12 End-of-day quote.-8.83%
DEERE & COMPANY -0.23% 164.07 Delayed Quote.9.99%
DJ INDUSTRIAL -0.59% 26935.07 Delayed Quote.15.47%
ELECTRICITÉ DE FRANCE -1.61% 10.69 Real-time Quote.-21.27%
GENERAL 0.00%End-of-day quote.0.00%
GREENTREE HOSPITALITY GROUP LTD - ADR -1.87% 11.04 Delayed Quote.-15.01%
LONDON BRENT OIL -1.50% 63.92 Delayed Quote.17.36%
NASDAQ 100 -0.99% 7823.553294 Delayed Quote.24.83%
NASDAQ COMP. -0.80% 8117.674437 Delayed Quote.23.32%
QUDIAN INC - ADR -1.11% 7.13 Delayed Quote.66.20%
S&P 500 -0.49% 2992.07 Delayed Quote.19.36%
US DOLLAR INDEX 0.24% 98.51 End-of-day quote.1.89%

Romain Fournier
© MarketScreener.com 2019
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