Motorola

Futures Levitation Continues As Brent Rises Above $50 For First Time Since November

In what has been another quiet overnight session, which unlike the past two days has not seen steep, illiquid gaps higher in US equity futures (the E-mini was up 3 points and accelerating to the upside as of this writing so there is still ample time for the momentum algos to go berserk), the main event was the price of Brent rising above $50 for the first time since November with WTI rising as high as $49.97.

Ex-Google Engineers Launch "Otto": Completely Driverless Truck Testing Underway

Movement in the autonomous vehicle space accelerated once again. Four ex-Google engineers, including the man who built Google’s first self-driving car,  announced “Otto”, an autonomous truck retrofitting business. The service isn’t vaporware. “Otto” is currently operating on Nevada highways.

Breaking Down Warren Buffett's Rosy Outlook For America

There’s something about being insanely rich that people will believe every word that comes out of your mouth no matter how bizarre. As one of the richest men in the world, Warren Buffett’s opinions carry almost Biblical impact, even when they might be completely ridiculous.

Frontrunning: October 1

  • After Rough Quarter, Investors Buckle Up (WSJ)
  • From heroes to bystanders? Central banks' growth challenge (Reuters)
  • Russian Airstrike in Syria Targeted CIA-Backed Rebels, U.S. Officials Say (WSJ)
  • Kremlin says Syria air strikes target list of groups, not just Islamic State (Reuters)
  • That’s information warfare? Russia accused of killing civilians in Syria (RT)
  • Euro zone factory growth eases in August despite modest price rises (Reuters)
  • How Glencore's Crazy Month Makes Greek Banks Look Tame (BBG)

Frontrunning: August 13

  • China central bank tries to soothe global markets, says no reason for yuan to fall further (Reuters)
  • Huge blasts at Chinese port kill 44, with hundreds injured (Reuters)
  • China efforts to slow yuan fall hoist Europe shares, bond yields (Reuters)
  • Greek Economy Unexpectedly Surged Before Capital Controls (BBG)
  • Joe Biden Is Sounding Out Allies About a 2016 Bid (WSJ)
  • U.K. Tries to Kick-Start Shale Gas With Planning Speedup (BBG)

The Song Remains The Same

We love reading quotes from Hussman in 2000 and 2007. The air is getting pretty thin up here. A stock market driven by Google, Apple, Netflix and a few other tech darlings with no earnings does not make a market. Time is running out for the bulls. The same morons on CNBC ridiculed and scorned his facts then and they scorn and ridicule him now. Do we trust Jim Cramer and Steve Liesman or John Hussman? Guess.

Frontrunning: June 12

  • Razor-edge U.S. Congress vote to decide fate of Obama Pacific trade pact (Reuters)
  • EU Readies for Default as Tsipras Drives Greek Finances to Brink (BBG)
  • Greece Can’t Plan a Barbecue, Let Alone a Currency, Nielsen Says (BBG)
  • IMF quits Greece talks amid ‘air of unreality’ as deal unravels (FT)
  • Greece Counts Cost of One Man's Gamble (BBG)
  • Merkel urges Greece and creditors to keep pushing for deal (Reuters)
  • Fearful ECB starts countdown on Greek funding lifeline (Reuters)
  • Greek stocks suffer further pummelling (FT)

Frontrunning: June 1

  • Senate lets NSA spy program lapse, at least for now (Reuters)
  • Draghi Deflation Relief Means Little With Greek Threat Unsolved (BBG)
  • Tepid factory data add to Asian gloom (FT)
  • Citigroup Likely to Close Banamex USA (WSJ)
  • Frugality of High Earners in U.S. Shows Long Shadow of Recession (BBG)
  • Greece’s Tsipras Warns Bell May Toll for Europe (BBG)
  • Carnegie Mellon Reels After Uber Lures Away Researchers (WSJ)
  • Romário leads drive for Brazilian probe into Fifa (FT)
  • Faster than China? India's road, rail drive could lay doubts to rest (Reuters)

Chinese Saturation Reached: World's Largest Smartphone Market Suffers First Drop In 6 Years

Less than two years ago, the number of smartphone shipments in China soared by roughly 100% year over year, rising over 80 million for the first time. Fast forward to Q1 of 2015 when according to IDC, the Chinese smartphone market - the largest in the world since 2011 when it overtook the US - has not only reached maturity but is now also fully saturated and as a result smartphone shipments suffered their first Y/Y decline, dropping 4.3% on an annual basis. As IDC notes, "this is the first time in six years that the China smartphone market declined YoY as the market continues to mature." Worse, on a quarter over quarter basis, the market contracted 8% on the back of a large inventory buildup at the end of last year.