Interest rate cut will stimulate Mexican economy – president

MEXICO CITY, Aug 16 (Reuters) – Mexican President Andres Manuel Lopez Obrador said on Friday that while Mexico faced a difficult economic environment, this week’s interest rate cut would stimulate Latin America’s second-largest economy.

The central bank cut its key lending rate on Thursday for the first time since June 2014, citing slow inflation and increasing slack in the economy, a decision that fueled expectations that further monetary easing could be on the way.

Housing starts slip 4% in July, while building permits climb

Housing starts in July fell 4% to a seasonally adjusted annual rate of 1.19 million, the Commerce Department said Friday, as building permits rose 8.4% to 1.34 million. Economists polled by MarketWatch expected a 1.25 million rate for starts and a 1.29 million rate for permits.

Brazilian president says country may leave Mercosur if problems arise with Argentina

SAO PAULO, Aug 16 (Reuters) – Brazilian President Jair Bolsonaro said on Friday that Brazil may pull out of the Mercosur trade bloc if problems arise with Argentina after a potential victory of the opposition party later this year.

“I don’t think that he will follow the path of democracy” and a free market economy, Bolsonaro told journalists, referring to center-left presidential candidate Alberto Fernandez. On Thursday, Brazil’s economy minister had already threatened to quit Mercosur. (Reporting by Eduardo Simoes; Writing by Carolina Mandl; Editing by Bill Trott)

U.S. Business Inventories Unexpectedly Unchanged In June

With a drop in retail inventories offsetting an increase in manufacturing inventories, the Commerce Department released a report on Thursday showing U.S. business inventories were virtually unchanged in the month of June.

The Commerce Department said business inventories came in flat in June after rising by 0.3 percent in May. Economists had expected inventories to inch up by 0.1 percent.

Retail inventories fell by 0.3 percent in June after climbing by 0.3 percent in May, while manufacturing inventories rose by 0.2 percent for the second consecutive month.

The report also said wholesale inventories came in virtually unchanged in June following a 0.4 percent increase in May.

Meanwhile, the Commerce Department said business sales crept up by 0.1 percent in June after edging down by 0.1 percent in May.

While wholesale sales slid by 0.3 percent during the month, manufacturing and retail sales climbed by 0.4 percent and 0.3 percent, respectively.

With sales rising and inventories unchanged, the total business inventories/sales ratio edged down to 1.39 in June from 1.40 in May.

Patriots quarterback Tom Brady says ‘hell no’ to future coaching career

New England Patriots quarterback Tom Brady reiterated the fact that he has no plans to ever coach football upon retirement — whenever that may be. 

At 42, Brady is just two years younger than Tennessee Titans head coach Mike Vrabel, his former teammate. But just because he's got the wisdom from a 19-year career that's garnered six Super Bowl titles under a Hall of Fame coach in Bill Belichick doesn't mean Brady has any desire to work the sidelines. 

Asked by reporters on whether he'd considered a future in coaching at Thursday's joint practice with the Titans, Brady smirked and responded accordingly: "Oh hell no!" 

Brady has sung the same tune before, telling reporters in 2016 of a future in coaching, "coaching wouldn't be for me. No, certainly not. I like playing. I wouldn't be a good coach. I don't have the patience to be a coach."

Thursday's joint practice between the Pats and Titans saw Brady give Vrabel a 44th birthday gift.

“Just a friend trying to give an old friend a present,” Vrabel told reporters. “Just a little trophy for coaching.” 

Asked about a future in coaching, Tom Brady smiled and said, “Oh hell no!” #Patriotspic.twitter.com/Tgmdz2zf1z

Deere And Co Q3 adjusted earnings Miss Estimates

Below are the earnings highlights for Deere And Co (DE):

-Earnings: $899 million in Q3 vs. $910 million in the same period last year.
-EPS: $2.81 in Q3 vs. $2.78 in the same period last year.
-Excluding items, Deere And Co reported adjusted earnings of $867 million or $2.71 per share for the period.
-Analysts projected $2.85 per share
-Revenue: $10.04 billion in Q3 vs. $10.31 billion in the same period last year.

Central American migrants risk lives in desert to reach US

More migrants are attempting to enter the US from remote areas to avoid border patrols.

Many migrants from Central America are risking their lives to try and reach the United States from remote areas.

And critics of Donald Trump are blaming his “keep out” immigration policies for the deaths of some asylum seekers.

Al Jazeera’s Heidi Zhou-Castro reports from Antelope Wells in New Mexico, where soaring temperatures are adding to the danger.

Intel shares up 1.4% after Northland upgrades the stock in bullish note

Northland Capital upgraded Intel Corp. INTC, +1.74% to market perform from underperform on Friday, after the chip maker’s strong second-quarter earnings. Analyst Gus Richard said the stock is now trading below his price target of $48, it’s trading at 11.5 times his 2020 estimates, which are lower than consensus, it beat second-quarter estimates by $900 million and 17 cents but only increased its guidance by $500 million and 5 cents. "We think value stocks likely outperform higher multiple stocks during sell offs," Richard wrote in a note. "Sentiment (is) nearing a low point." Since Northland downgraded the stock back in December, the trade was has taken a turn for the worse, with bans on Huawei and Chinese super computer companies, he wrote. "In addition, AMD’s server launch likely makes it clear Intel is going to struggle to maintain share and will suffer from pricing pressure," said the analyst. "While we expect AMD to take share in the server market over time, share in this market shift slow." Shares were up 1.4% Friday, but have fallen 1.2% in 2019, while the S&P 500 SPX, +1.33% has gained 15%.