Impeachment vote, IPC, Couche-Tard / Carrefour: What’s happening in the markets? By


© Reuters

By Geoffrey Smith – Donald Trump will become the first president of the United States in history to be indicted twice. The dollar’s upward correction stalls after a strong Treasury auction and a more dovish note from Federal Reserve officials. Couche-Tard is in talks to buy Carrefour (PA 🙂 from France and Visa has abandoned its acquisition of Plaid. December CPI figures and official crude inventory estimates are on hold. Here’s what you need to know in the financial markets on Wednesday, January 13. 1. Trump will be charged again Being charged once could be considered a disgrace. Being accused twice seems like an oversight, as Oscar Wilde would have said. Donald Trump is set to make history on Wednesday, with the House of Representatives poised to impeach him a second time, just a week before his term expires. The chances of a Senate conviction also appear to be increasing, with a growing number of Republican senators turning against Trump after another inflammatory interview Tuesday, in which he defended his incitement to last week’s violent attack on him. Capitol. Both former Majority Leader Mitch McConnell and influential Liz Cheney are now open to vote to convict, according to multiple reports. 2. Dollar down after strong bond auction, dovish Fed comments; The CPI’s Look The dollar and 10-year bond yields fell after strong interest in a Treasury auction on Tuesday, along with comments from Federal Reserve officials rebuffing talks about curtailing purchases. of assets later in the year. Kansas City Fed Chair Esther George, in particular, said it was too early to talk about reducing monetary stimulus, while Boston Fed’s Eric Rosengren declined to be swayed by any talk of cutting. . The movement in bond yields this week will add a bit more flavor to consumer inflation data due at 8:30 AM ET (1330 GMT). Analysts expect the headline annual rate to rise to 1.3%, still well below the Fed’s 2% target, while the core CPI rate will remain at 1.6%. A month-on-month variation of 0.4% is expected. 3. Flat stocks; Visa Abandons Plaid Offering US stocks are said to open mixed later, after a decidedly quiet rebound during Tuesday’s session that was overshadowed by the political struggle brewing in Washington. At 6:30 am ET, and Nasdaq futures were practically flat. Stocks likely to come into the spotlight later include data provider IHSMarkit, which is in the process of being bought by S&P Global (NYSE :), and Visa (NYSE :), which said late on Tuesday that it has abandoned its Plaid’s planned acquisition due to antitrust concerns. Shares of Tesla (NASDAQ 🙂 may also be supported by the news it has filed to establish a legal entity in India. 4. Couche-Tard in talks to buy Couche-Tard from Carrefour Canada, owner of several chain stores including K Circle, is in talks to buy France-based Carrefour in a deal worth more than $ 30 billion, including debt. The acquisition would substantially boost the Canadian company’s global presence, especially in emerging markets, particularly Brazil and Argentina, where Carrefour has invested heavily over the past two decades. Carrefour shares, which had underperformed most of Europe’s food retailers over the past year, rose more than 13% on the news in Paris. 5. Falling US Stocks Keeps Oil Rising; Observed EIA Crude oil rally slowed but remains intact after data from the American Petroleum Institute on Tuesday showed a steeper-than-expected drop in inventories for the second week in a row. The government data is due at 10:30 am ET, as usual, and is expected to show a decline of 2.27 million barrels. API’s estimate was lowered by more than 5.6 million. At 6:35 am ET, US crude futures were up 0.2% at $ 53.30 a barrel, while they were virtually flat at $ 56.59. Both markers had reached new 11-month highs overnight, helped by comments from an International Energy Agency official who said the pandemic has not massively advanced the expected peak in global oil demand.