What Is Happening In Financial Markets Today?

6. Interesting Reads

“Greenlight Capital’s David Einhorn said Tuesday that President Donald Trump’s focus on job creation and other economic factors are positive for personal income. “If you have high levels of personal income, I think you’re going to wind up with high levels of demand for new cars and, also, better-than-expected performance in the credit subsidiaries,” he said on CNBC’s”Halftime Report” on Tuesday.” (CNBC)

“Tesla Inc, the California-based electric carmaker, said Chinese tech giant Tencent Holdings Ltd acquired a 5 percent stake for $1.78 billion. The purchase, revealed in a U.S. regulatory filing, pushed Tesla’s stock higher in early trading, making it the second most valuable U.S. auto company ahead of Ford Motor Co but behind General Motors Co. The deal gives Shenzhen-based Tencent a growing presence in the rapidly expanding future mobility sector, with investments in U.S. and Chinese startup companies that provide ride sharing services and are developing self-driving electric vehicles.” (Reuters)

“The next Apple iPhone could signal the end for smartphones, as the market reaches a saturation point, according to an industry expert. Ben Rogoff, fund manager at Polar Capital, argues that the smartphone story is coming to an end. “The iPhone 8 or whatever it’s going to be called will be the last hurrah for smartphones,” he told CNBC’s Squawk Box.” (CNBC)

“A trend that has been catching attention is purchases of U.S. municipal bonds by foreign investors. A terrific summary was recently published by VanEck’s Michael Cohick and that can be found by clicking here. As that research points out, the Federal Reserve data on foreign investor holdings has jumped to end 2016 at $106 billion. That data can be found on page 125 of the Federal Reserve Statistical Release March 9th 2017.” (Indexology)