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12 February 2019
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| Financial Markets (The Total Investment & Insurance Solutions) |
The agreement on border security involves far
less money for a wall than the White House wants and it's not clear whether
President Donald Trump will support the deal. Still, the move alleviates some
uncertainty for the market ahead of talks that economists and analysts hope
will end a damaging trade war between the world's biggest economies.
Both nations are trying to reach a deal
before March 1. That's when additional tariffs will kick in, escalating the
conflict and further hurting companies and consumers with higher prices on
materials and products.
Elsewhere, companies are wrapping up an
earnings season that's featured solid profit growth for the final three months
of 2018, but caution about conditions going forward. Analysts are now
predicting a contraction in profits for the current quarter, according to
FactSet.
Brewer Molson Coors fell as lower volume
reduced revenue and profit. Under Armour rose after stronger sales helped it
beat forecasts.
KEEPING SCORE: The Dow Jones Industrial
Average rose 245.6 points, or 1 percent, to 25,298 as of 9:50 a.m. The S&P
500 index rose 0.9 percent and The Nasdaq composite rose 1 percent.
FAULTY TAP: Molson Coors plunged as lower
sales volume sunk revenue and profit during the fourth quarter, while the
brewer also said it has to restate some past results. The maker of Molson and
Coors brands said tax accounting errors in 2016 and 2017 are prompting the
restatements.
The stock fell 7.2 percent.
MORE FOUNDATION: German conglomerate JAB
Holdings hopes to take a majority stake in Coty Inc., which makes CoverGirl,
Max Factor and Hugo boss brand cosmetics.
JAB is offering to buy up existing stock from
shareholders at $11.65 per share, marking a 20 percent premium from its closing
price on Monday. The goal is to eventually own 60 percent of the company's
stock. Coty's CEO, Camillo Pane, recently resigned from the company, which
faces supply chain and revenue issues.
The stock rose 14.6 percent.
OVERSEAS: Markets in Europe and Asia are also
broadly higher. Fears of a global slowdown still linger as the US and China
head into trade talks. Britain, Europe broadly and China have all reported
slower economic growth.The Total
Investment & Insurance Solutions
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