Morning 1-16

Morgan Stanley earnings better than Expected as trading revenue beat Expectations, something all of the big banks have accomplished. Bond trading revenue surged pushing annual profit to an all-time high (BBG) stock +2% pre- market

From WSJ “The S&P 500 is on one of its longest streaks without a 1% daily move in the past five decades, highlighting how the latest leg of the stock-market rally has been a gradual climb rather than a euphoric surge.
The broad equity gauge hasn’t moved 1% or more in either direction since mid-October, its sixth-longest streak since the end of 1969 and third-longest since the end of 1995, according to Dow Jones Market Data. Driving the extended period of calm trading: An initial U.S.-China trade deal and lower interest rates around the globe that have eased fears of a sharp economic slowdown.”
Positive News from Europe via Trading Economics “
• ECB officials agreed that there were some signs of stabilization in the Eurozone growth slowdown, and that downside risks to the outlook had become somewhat less pronounced, the accounts of the December meeting showed

• New passenger car registrations in the European Union jumped 21.7 percent from a year earlier to 1.22 million units in December 2019, the highest December total on record

China Trade comment: in 2017 China Bought $186B of goods and services from the U.S.(BBG) in Phase one they pledged to buy $200B hmmmm might be some difficulty in achieving this goal.

Spoos,Bonds,Copper,Gold all higher oil steady Dollar a touch weaker as Euro has small bid on Positive ECB comments. Retail sales is a big deal and markets awaiting the release.Spoos may never go down it seems

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