Mattress Firm, the largest U.S. mattress retailer, is planning to file for bankruptcy Reuters reports, as the firm struggles to exit costly store leases and shut some of its 3,000 locations that are losing money.
Trade fears have returned with a twist, as global market weakness has spread to European banks while safe havens including the yen and sovereign bonds are broadly higher amid a broad risk-off sentiment.
On this quad-watching Friday, U.S. equity futures slide alongside Asian and European shares, after a torrid week full of political news and central bank developments, with Friday now anxiously eyeing the start of trade war between the US and China.
Washington DC has become as leaky as Williams Sonoma’s finest colander, and every major hedge fund has their sources of information there: No one wants to buy the dip if a real seller with better DC sources caused it.
After two consecutive days of failed S&P ignition attempts, in which US stocks opened sharply higher only to close near the lows, on Wednesday the algos will try for the third consecutive time to escape the recent late-day selloff funk.
"... the company has also taken the unprecedented step of putting some $10,000,000 in reserves to thwart future attacks and reward the cyber sleuths or informants who reveal the identities of anyone attempting to compromise their network..."
For the fifth month in a row, the US trade balance went deeper into deficit (if the advance data holds), hitting a larger than expected -$74.4bn in January - the biggest deficit since July 2008 (in the middle of the last recession).
World stocks hit a new all time high on Friday with U.S. equity futures rising for the 8th trading day out of 9 in 2018 and the Dow is just a little over 300 points away from 26,000. The euro surged to a three-year high as Germany was said to reach a "grand coalition" agreement, heaping more pressure on the dollar before inflation data.