Brazil

Apple Launches Red iPhone 7, Introduces New iPad

As previewed last week, moments ago Apple has introduced a 9.7-inch iPad with Retina display, starting at $329. Today AAPL also announces red edition of iPhone 7 and iPhone 7 Plus to mark more than 10 years of partnership between Apple and HIV/AIDS charity.

Global Stocks Rise; Euro Surges To 6 Week High After French Presidential Debate

European stocks are modestly in the green as gains in banks and oil companies offset declines in miners. Asian stocks and S&P futures rise with Emerging-market stocks extending their longest winning streak since August on the back of the 5th consecutive daily drop in the USD. The euro rose to the strongest in six weeks after a French presidential debate eased market concerns about a possible Le Pen win.

Row Breaks Out At G-20 Over Future Of Global Trade

A row appears to have broken out during today's G-20 meeting in Baden Baden, Germany - the first for the Trump administration - where the dominant topic is trade, and specifically how the "globalization vs protectionism" debate will look in a world where Donald Trump is president of the world's biggest economy.

Global Stocks Soar To Record Highs On "Dovish" Fed, Dutch Vote

World stock indexes surged to record highs on Thursday while the dollar traded close to a one-month low after the Federal Reserve hiked U.S. interest rates but signaled no pick-up in the pace of tightening, while the Dutch elections were broadly interpreted as a drop in support for Europe's anti-establishment powers.

Frontrunning: March 13

  • Oil touches three-month lows, as U.S. supply swells (Reuters)
  • Oil Steadies Below $49 as U.S. Drilling Threatens Longer Glut (BBG)
  • Traders Brace as Crucial Events Loom for Markets (WSJ)
  • Preet Bharara’s Probes Likely to Continue After His Exit (WSJ)
  • Dollar steadies after three-day fall (Reuters)
  • GOP Health Plan Would Hit Rural Areas Hard (WSJ)

Crude Plunges Below $49, Dragging Markets Lower; All Eyes On Draghi

While trader attention will soon be focused on the ECB and any potential tightening hints from the central bank, a more pressing development as US traders walk in today, will be ongoing collapse in WTI, which after crashing 5.5% yesterday, has tumbled more than 2% this morning, sliding not only below $50 for the first time since December 1, but also dropped under $49, as a near record number of net long spec positions suddenly rushes to unwind their exposure.

Frontrunning: March 8

  • GOP Disagrees on How—and Whether—to Pay for Tax Cuts (WSJ)
  • 'It's like kumbaya:' Trump's genial private meetings with CEOs jar with public attacks (Reuters)
  • New Health Plan Sparks Debate Over Obamacare Comparisons (WSJ)
  • China Grants Preliminary Approval to 38 New Trump Trademarks (BBG)
  • Questions About Loyalty to Trump Stall Treasury Picks (BBG)
  • Women in U.S. plan to stay off the job, rally in anti-Trump protests (Reuters)

OECD Warns There Is A "Disconnect" Between Markets And The Global Economy

"Disconnect between financial markets and fundamentals, potential market volatility, financial vulnerabilities and policy uncertainties could, however, derail the modest recovery. The positive assessment reflected in market valuations appears disconnected from real economy prospects." - OECD

Trump Won't Be Happy: US Records Biggest Trade Deficit In 5 Years

In a report that will be closely scrutinized by the trade-sensitive Trump administration, today the Department of Commerce announced that the January trade deficit surged in January 2017, jumping from $44.3 billion in December (revised) to $48.5 billion in January, as imports increased more than exports.This was the biggest trade deficit going back to early 2012.