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Take Five: Shaky September​

Sept 2 (Reuters) - U.S. jobs numbers dominate the agenda as markets brace for a choppy September, with France seeking a way through its political mess, Germany having regional polls and African leaders heading to Beijing.

Here's your guide to the week ahead in financial markets from Kevin Buckland in Tokyo, Ira Iosebashvili in New York, Duncan Miriri in Nairobi and Dhara Ranasinghe and Naomi Rovnick in London.

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Morning Bid: Labor Day to labor report as Sept kicks off​

September 3, 2024 6:13 AM EDT

A look at the day ahead in U.S. and global markets from Mike Dolan

Wall Street gets September off to a late start with a holiday- shortened week that focusses squarely on the U.S. jobs market after last month's unemployment rate scare sparked a mini panic.

Returning from Monday's Labor Day holiday, U.S. markets seem in a more comfortable place than they were a month ago when July's outsize jump in the U.S. jobless rate to 4.3% re-ignited recession fears and aggravated a volatility squall.

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How big a problem is the mounting global debt? - Splash247

Pierre Aury assesses the state of the world economy with some startling stats. We saw last month that it was unlikely that the historically high level of unrealised losses sitting in the balance sheets of banks could trigger a 2008 style crisis. Human ingenuity is endless when time comes to cook...
splash247.com
 

East Coast Port Workers Reportedly Seeking 77% Wage Increase​

With less than a month until the current union contract expires at the East and Gulf Coast ports and formal negotiations still at a standstill, it appears the dockworkers are playing hardball.

A report from the Wall Street Journal says the International Longshoremen's Association (ILA) is pushing for a six-year contract that includes a 77 percent pay increase for its 45,000 workers.

The union is meeting Wednesday and Thursday in New Jersey to iron out the final contract demands.

Since last November, the ILA has been insistent that if its employers, the United States Maritime Alliance (USMX), don't cater to their demands, the union workers will go on strike Oct. 1 across all 36 ports stretching from Texas to Maine.

Previous reports indicated that the ILA had targeted a wage increase above the 32 percent increase that its West Coast dockworker counterparts, the International Longshore and Warehouse Union (ILWU), procured when it signed and ratified a six-year contract last summer.

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Stock futures are little changed after tech sell-off drags S&P 500 to worst day since August: Live updates​

U.S. stock futures were little changed Tuesday night after the major averages fell to start September.

Dow Jones Industrial Average futures fell by 5 points, or 0.01%. S&P 500 futures and Nasdaq 100 futures dipped 0.05% and 0.04%, respectively.

Nvidia shares fell 2% in extended trading after a Bloomberg report, citing sources familiar, said the U.S. Justice Department sent subpoenas to the chipmaker. The move comes after Nvidia tumbled more than 9% in the regular session amid a broader pullback in semiconductor stocks.

Wall Street is coming off a losing session, with the major benchmarks posting their worst day going back to the Aug. 5th sell-off as chip names came under pressure and the latest economic data implied slowing growth for the U.S. economy. The Dow Jones Industrial Average fell more than 600 points, or 1.5%, while the S&P 500 slid 2.1%. The Nasdaq Composite dropped 3.3%.

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Trade expectations in the new marketing year | Weekly Commodity Market Update​

Sep 3, 2024 #agriculture #news #markets
This week Will and Ben talk expectations for U.S. ag exports for the new marketing year.

12:59

Chapters:
0:00 Introduction
1:24 Market recap
2:26 Post-holiday crop market rally
3:45 Review of 2023-2024 exports
7:50 A fresh marketing year look
11:08 What to watch this harvest
 

Sounion Salvage Setback | Are Russians Paying off Houthis | War Risk Insurance | US Navy Redeploy​

Sep 3, 2024 #Sounion #supplychain #redsea

In this episode, Sal Mercogliano - a maritime historian at Campbell University (@campbelledu) and former merchant mariner - discusses the status of the tanker #Sounion in the Red Sea, the attempted salvage operation, Russian tankers sailing through the region, the rise in war risk insurance in the Red Sea and the redeployment of US forces to the Red Sea, Bab el-Mandeb and the Gulf of Aden.

16:14

- Marine Traffic. marinetraffic.com
- SOUNION Salvage Operation Faces Setback in Red Sea https://gcaptain.com/sounion-salvage-...
- Conditions Not Met to Tow Burning Tanker in Red Sea Says EU https://www.maritime-executive.com/ar...
- MT Anderson on X https://x.com/MT_Anderson
- Two More Tankers Attacked in Red Sea https://gcaptain.com/two-more-tankers...
- Bahri Denies Tanker was Targeted in Red Sea https://gcaptain.com/bahri-denies-tan...
- Merchant Ship Attacks Nov 2023- https://storymaps.arcgis.com/stories/...
- UKMTO Recent Incidents https://www.ukmto.org/recent-incidents
- JMIC Weekly Dashboard https://www.ukmto.org/partner-product...
 

Morning Bid: Stocks in seasonal sneeze as factories flunk​

September 4, 2024 6:14 AM ED

A look at the day ahead in U.S. and global markets from Mike Dolan

Wall Street seems to be making a habit of these early month stock plunges, with Tuesday's tremor a mild aftershock from the brief August quake one month ago.

Given that September historically tends to be the worst month of the year for stock market returns - with August a close second - then seasonal flurries like this probably should be treated as such. This too will likely pass.

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Scrap Market Insights: Post-Labor Day Copper Fluctuations & Aluminum Gains​

Check Scrap Prices: https://iScrapApp.com/ - In this week’s market update, iScrap App dives into the latest movements in the scrap metal industry following Labor Day weekend. With fluctuating copper prices, a bright outlook for aluminum, and ongoing uncertainty in steel markets, the rest of 2024 is set to be eventful.
What You'll Learn: Why copper prices are fluctuating amid global uncertainties Positive trends in aluminum due to supply constraints The impact of EV demand on metals like lead and nickel

Read more: https://iscrapapp.com/blog/weekly-scr...

22:52
 

Morning Bid: Stocks calmed as action switches to rates, jobs​

September 5, 20246:24 AM EDT

A look at the day ahead in U.S. and global markets from Mike Dolan

U.S. stocks look to have weathered the early September squall for now but interest rate speculation and ebbing bond yields now take center stage as evidence mounts of slowing U.S. labor market.

Futures markets now see almost a 50-50 chance of a 50 basis point Federal Reserve rate cut this month and two-year Treasury yields plumbed 3.75% on Thursday for the first time in 16 months.

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CLS Week 36 (may need to register to read - it's free)

Fearnleys Week 36

Drewry WCI 05 Sep

World Container Index - 14 Nov

14 Nov 2024: Drewry’s World Container Index remained stable at $3,440 per 40ft container this week.
www.drewry.co.uk

Commodities - Live Quote Price Trading Data

Trading Economics provides data for several commodities including live bid/ask quotes, last trading prices, forecasts, charts with historical time series and news. This table was last updated on Monday, November 11, 2024.
tradingeconomics.com
 

Morning Bid: Payrolls, Williams and Waller - a big decider​

Sept. 6 (Reuters) - A look at the day ahead in U.S. and global markets from Mike Dolan

Friday looks set to play out like a concentrated version of what markets have been navigating all year - what's the fine balance for the U.S. economy to both dodge recession and allow interest rates to come down at the same time.

After a torrent of labor market and business updates all week, the August employment report now acts as the decider, setting the tone for both this month's Federal Reserve meeting and the holy grail of a "soft landing" for the economy.

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FBC podcast. Nothing to see, can listen in one tab, play around the forum in a different tab.

Hapag-Lloyd’s Gemini Ambitions, North American Union Threats, and the Future of Sports Supply Chains -

In this special two-part episode of The Freight Buyers’ Club, we tackle some of the most pressing issues in global trade and supply chains. First, we dive deep into the container shipping markets with Torsten Hartmann, Senior Director of Trade Management for the Transpacific at Hapag-Lloyd...
www.thefreightbuyersclub.com

"No plan B" for global shipping if U.S. dockworkers strike, says Hapag-Lloyd executive -

With contract negotiations at a stalemate, the possibility of a U.S. East Coast dockworkers’ strike threatens to paralyze global container shipping, impacting millions of TEUs and leaving terminals idle. September 5, 2024 Global container shipping markets could face a significant shock, one that...
www.thefreightbuyersclub.com
 

Wall Street stocks fall, big weekly drop as market waits for Fed to move​

  • Fed's Waller says time has come to cut rates
  • Broadcom tumbles after downbeat Q4 revenue forecast
  • Losses in 'Magnificent Seven' pressure techs
  • Indexes: Dow off 1.01%, S&P 500 down 1.73%, Nasdaq down 2.55%
NEW YORK, Sept 6 (Reuters) - U.S. stocks fell on Friday, weighed down by a jobs report that showed a continued labor market slowdown but left traders uncertain about how far the Federal Reserve will go in cutting interest rates.

All three main indexes were lower, with the 11 sectors of the benchmark S&P 500 (.SPX), opens new tab losing ground led by declines in communication services (.SPLRCL), opens new tab, consumer discretionary (.SPLRCD), opens new tab and technology equities.

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S&P 500 tumbles Friday to post worst week since 2023, Nasdaq drops 2% for worst weekly performance since 2022: Live updates​

The S&P 500 dropped Friday, notching its worst week since March 2023, as investors assessed the fallout from a weak August jobs report and ditched leading technology stocks.

The broad index slid 1.73% to settle at 5,408.42, while the Nasdaq Composite shed 2.55% to close at 16,690.83. The tech-heavy index ended the session more than 10% off its record close. The Dow Jones Industrial Average fell 410.34 points, or 1.01%, to end at 40,345.41.

“It’s a sentiment-driven move that’s largely driven by growth concerns,” said Emily Roland, co-chief investment strategist at John Hancock Investment Management. “The market’s oscillating between this idea of is bad news bad news, or is bad news good news, and the sense that it may revive hopes that the Fed moves more aggressively than markets anticipate.”

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Markets Now Closing Markets 9-6-24 Video​

Sep 6, 2024

10:45
 

A Candid Conversation With ILA President Harold J. Daggett On Wide Range of Important Topics​

Sep 5, 2024
ILA President Harold J. Daggett tackles a wide range of subjects from the history of containerization to devastating impact of job killing automation for ILA and workers around the world in this candid question-and-answer session. The ILA leader discusses the real threat of a coast-wide strike in October 2024 as ILA employers are failing to fairly compensate ILA longshore workers from the billion dollar profits they are earning in recent years.

17:08

ILA demands on wages and automation as port strike looms

  • Negotiations between employers and unions at an impasse
  • Cargo already shifting to US West Coast ports
  • Dockworkers helped shipping lines make huge profits during the pandemic
A potential strike by members of the International Longshoremen’s Association (ILA) threatens to shut down ports along the US East Coast at the end of this month, ILA President Harold J. Daggett, a third-generation member of the ILA, took to social media to voice his viewpoints.
In what was titled as a “Candid Conversation” on a wide range of topics, the stevedore union’s boss, doubled down on the potential for a work stoppage if ILA, representing some 45,000 workers, cannot come to terms with terminal operators represented by the US Maritime Exchange (USMX). Daggett has served as President since 2011 and has been involved in similar negotiations previously that achieved agreements without walkouts.

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Why Billionaires are buying up farmland all over the U.S.​

Aug 28, 2024
Bill Gates and other billionaires are buying up the farmland across America, with Bill Gates on his own now owning over 250,000 acres in states like Nebraska, Arizona, and Louisiana.

The reason these billionaires are buying up farmland is because they want to 1) use it as an investment, as farmland has appreciate by 400% in the last 20 years and 2) insulate themselves from geopolitical risk by controlling natural resources.

14:22
 

Take Five: No let-up​

September 9, 2024 2:40 AM EDT Updated 3 hours ago

Sept 6 (Reuters) - The volatile activity that has marked September so far may not let up any time soon, as investors are on edge ahead of more key macro events that could shape the tone for trading in the weeks ahead.

Here's your look at the week ahead for markets from Kevin Buckland in Tokyo, Ira Iosebashvili in New York, Yoruk Bahceli in Amsterdam and Naomi Rovnick and Amanda Cooper in London.

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Discount Retailer Big Lots Files for Bankruptcy, Agrees to Sale to Nexus Capital​

U.S. discount retail chain Big Lots filed for bankruptcy and agreed to sell itself to an affiliate of private-equity firm Nexus Capital Management.

The Columbus, Ohio-based company named Nexus as its proposed stalking horse bidder after filing for chapter 11 protection Monday in the U.S. bankruptcy court in Delaware. The proposed deal, subject to higher offers and other conditions, is expected to close in the fourth quarter, it said.

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AMERICAS Post-payrolls foothold, new iPhones and debate​

September 9, 2024 6:07 AM EDT

A look at the day ahead in U.S. and global markets from Mike Dolan

Wall Street futures have found their feet after Friday's exaggerated market reaction to an otherwise middling employment report - with Apple's new iPhone and Tuesday's presidential candidates' debate next up on the radar.

The August payrolls report was modestly weaker than forecast, even if a significant improvement on July. Downward revisions to prior months softened the picture a bit more.

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Lackluster Labor Day gives no lift to trucking market

The truckload market appears to be increasingly stable through a period when it normally isn’t. While the immediate future appears uneventful, the holiday shipping season is anything but certain.
www.freightwaves.com

Borderlands Mexico: Wiliot chatbot would like a word about food supply chain safety

This week in Borderlands: Wiliot chatbot would like a word about food supply chain safety; Maersk opens logistics warehouse in El Paso; Stotland Trucking expands operations in Texas; and Continental
www.freightwaves.com
 

AgDay 09/09/24​

News about ag, commodities & supply chain.

20:18
 

Mississippi River Low Water Level Concerns​

Sep 9, 2024

2:46
 
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