By Barbara Kollmeyer, MarketWatch
Watch out for comments from new U.K. Prime Minister Boris Johnson, who could trigger action for the FTSE 100 and the pound.
European stocks /zigman2/quotes/210599654/delayed XX:SXXP -0.64% are sagging after weak data and heavy losses for Deutsche Bank’s /zigman2/quotes/203042512/composite DB +4.08% , which reported a $3.5 billion loss. Asia markets /zigman2/quotes/211618636/realtime XX:ADOW -0.18% were mixed.
Disappointing results are hitting shares of machinery giant Caterpillar /zigman2/quotes/203434128/composite CAT +1.24% and Boeing /zigman2/quotes/208579720/composite BA -4.83% . Better earnings news is lifting medical device maker Boston Scientific /zigman2/quotes/203726728/composite BSX +2.46% and package shipper UPS /zigman2/quotes/201245396/composite UPS -2.90% . Tesla /zigman2/quotes/203558040/composite TSLA +5.66% , Ford /zigman2/quotes/208911460/composite F +3.97% and PayPal /zigman2/quotes/208054269/composite PYPL -1.37% will report late, alongside Facebook.
Earnings Watch: Facebook’s fine, Boeing’s bind and Tesla’s bottom line
Taco king Chipotle /zigman2/quotes/200781108/composite CMG +2.07% , Visa, Snapchat parent Snap /zigman2/quotes/205087158/composite SNAP -0.49% and chip maker Texas Instruments /zigman2/quotes/202237907/composite TXN -2.48% are up on earnings news late Tuesday.
Treasury Secretary Steven Mnuchin will hit CNBC early to discuss the latest on trade talks with China, due to restart next week.
The Markit manufacturing and services purchasing managers indexes will be released after the open, followed by new home sales.
Democrats are hoping Wednesday’s long-awaited testimony by former special counsel Robert Mueller will dent President Trump’s re-election bid. See Live Blog
Bank of America Merrill Lynch recently referred to bond inflows as “staggering”, with a record $455 billion pouring into the asset class so far this year. That’s as investors bet on lower yields, meaning higher prices, better returns. But our chart of the day says the ship may have sailed on that asset.
It comes from The Atlas Investor’s Tiho Brkan, via the below tweet, which shows the level of bond bullishness right now. For a contrarian investor, he says that may be a red flag:
U.S.-born teen released after being held by immigration officials for three weeks
And neighbors form a human chain to stop another detention
#Ididn’twanttodie — Russian hashtag (translated) at the front of the country’s fight against domestic abuse
Bison charge, hurls 9-year old into the air at Yellowstone
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