Media Navel Gaze: January 23, 2017
Carnage. America First. Crowd Size Matters. Probably the biggest next-day themes in a busy coverage week with a bigly march, an inauguration and Davos in full force and focus mostly in that order. In his debut as the press secretary of the White House, Sean Spicer, berated the media for accurately reporting on the actual inauguration attendance, a first act to the Fourth Estate that will no doubt make it rough going for everyone around. Seat belts fastened.
- Congress continues its Cabinet vetting with much work today even as Trump begins his presidency;
- Samsung seems to be figuring out why the Galaxy Note 7 was a real fire sale;
- The real heat? Planet earth, which set a new record high for the third year in a row, which is more than indication or change and startled scientists;
- Snap is readying for its (looks like) March IPO amid way friendly structures for the owners (snap, snap);
- The Trump rally continued its slight retreat, with the Dow down 0.3 percent for the week to end at 19,827; The blue chips are still up some 8.2 percent since election day for one of the biggest post-vote rallies (but down for the year);
- Bank earnings improved on trading volume; and
- El Chapo’s in town, literally.
- Notable LatAm discourses at this week’s World Economic Forum included Argentina downplaying the impact of a protectionist Trump Administration on Argentina given the country’s still-recent transition to an open economy, and Brazil defending its floating currency and being recognized for its recent expense reduction efforts.
- In Chile, Rosanna Costa became just the second woman since 1990 to be named Central Bank Counsellor, and in her inaugural meeting addressed Central Bank autonomy, inflation control, exchange policies and price stability as key priorities.
- In Peru, energy company Enagás issued a statement suggesting construction of the US$7.3 billion GSP energy pipeline being built across southern Peru, a joint venture between Enagás, Odebrecht, Graña and Montero, would be terminated as the group struggles to line up its next round of financing prior to a January 23rd deadline.
- End of Week Market Updates
- Merval (Argentina): + 0.82%
- Bovespa (Brazil): + 1.37%
- IPSA (Chile): + 0.55%
- IGBC (Colombia): - 1.12%
- IPC (Mexico): + 0.32%
- BVL (Peru): - 2.01%