morning report from Northwest Quadrant Wealth Management
The U.S. government is urging a federal judge to reject the February court date sought by AT&T and Time Warner in a dispute over the firms’ proposed merger, which the DOJ feels could raise prices and hamper the development of online video. It has requested that proceedings start on May 7, but AT&T will have to pay Time Warner $500M if the deal is not consummated by April 22. (SA)
Ford is expected to sign a deal tomorrow that may allow it to test selling cars in China through Alibaba’s online retail arm Tmall, Reuters reports. The partnership would also include a new retail concept called the “Automotive Vending Machine” – a multi-story parking garage that partly resembles a giant vending machine – to cars sell directly to Chinese consumers. (SA)
Private sector employment increased by 190,000 jobs last month, slightly ahead of estimates, according to today’s report by payroll processor ADP. The data compared with expectations of a gain of 185,000 – and set an optimistic tone ahead of the closely watched monthly jobs report from the Labor Department, due to be issued tomorrow (FT).
S&P 500 futures are down 4 and NASDAQ futures are down 20. The MSCI international index is down ¼ of a %
Oil is down .79 cents at $56.83 a barrel.
Gold is up $3 at $1268 a Troy ounce, bouncing off yesterday’s 2 month low.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Josh Fenili.
If you would like an audio version for use every business morning contact Troy Reinhart at Northwest Quadrant Wealth Management