There is all on very light futures. Oil stocks have been trading in nearly the same direction every day for the past month. Asia overnight. Were not being big moves. A fallout for that massive explosion in china continuing. Shanghai was up 0. 75 . We have some news to tell but. I cant believe this is real. Apple planning a big announcement in september. But the big question is whether we can expect more than an iphone in maces. The new speculation this time is about a car. I know weve talked about it before. But this is totally different now. The Guardian Newspaper reporting the company is building a selfdriving car. Its looking for locations to test it. The report says apple is further along than many suspected. If you read through the story, its real. Assuming the reporting is right, they talk about the location of where the offices are, the garages, all of the things that they tested and built out, the people that called on the record. Theres a guy on the record from one of these tr
York times article that describes amazon as a bruising place to work. Liberty buying zulily in a deal valued at 2. 4 billion. And tesla is down. First up, the markets are coming off of a volatile week. Oil sliding below 42. Data showing japans economy contracted in the Second Quarter. Another setback for abae. Look consumption down almost a full point quarter on quarter. Is there qe really work . Their stock market loves it. They dont have growth. This is a demographic issue. Japan doesnt have the demographics we have. We have tremendous growth jer us the versus japan and china. Chinas stock market dedoubled from the economy. Our stock market controlled maybe by the fed. Europe controlled by the low rates of interest on bonds. So people are searching for markets that are natural and organic and not on steroids. It occurred to me this morning, theres japan. Theres china, the discussion from last week. Were waiting for the bund and the stock bailout. The world is a tough room if youre ex
Ford, all of these basically weaker than expected although slightly better than expected for fiat and chrysler. The real concern is when you look at car sales. Were not talking about suvs and pickups. Were talking about car sales. The numbers, thats not a mistake there. That is accurate. Fiat chrysler cars down 39 . Gm down 25 . Same with ford. Toyota, down 15. 9 . What is happening here . A couple things. Moderate gas prices are having an impact. People are saying if i have gas at, what, 2. 32 a gallon on average in this country, hey, its still relatively cleep to where it was a few years ago. As a result, you see people rotating to crossovers, suvs. So when you take a look at the japanese automakers sh the reason were showing you the stocks is because these guys have more exposure to the car market in north america relative to gm, ford, fiat chrysler. Keep in mind, those guys have much greater exposure to trucks and suvs relative to the japanese automakers. Any way you slice it, they