Month: August 2019

The euro is the linchpin holding everything together, but it’s breaking The euro closed the week at the lowest level in two years but this might be just the beginning. The ZEW survey this week showed economic expectations tanking and the euro won’t be far behind unless Merkel reverses course and starts spending. If the
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Not clear where the tanker is headed A Gibraltar court released the Grace 1 tanker on Saturday and the ship is preparing for departure. The move came despite US objections and appeals. The US government issued a warrant to seize the ship, saying all oil aboard the ship is subject to forfeiture due to a
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Major indices close up 1.2% or better The major US indices are closing with provisional gains of 1.2% or better. The numbers are showing The S&P index rose  41.12 points or 1.44% at 2888.71 The NASDAQ index rose 129.38 points or 1.67% at 7895.99 The Dow rose 306.62 points or 1.20% at 25886.01. For the week, despite the solid gains today, the major indices are ending the
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Fed Chair Powell speaks at Jackson Hole Economic Policy Symposium on Friday The key event next week her until Friday at 10 AM ET/1400 GMT, when Fed Chair Powell is scheduled to speak at the Jackson Hole Economic Policy Symposium.  The title of his speech is “Challenges for Monetary Policy”.   The meeting minutes from the last FOMC meeting will
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MA will be remembered for the bounces on dips… The price of gold is trading down $-9.08 at $1514.21. The low price extended to $1503.77. The high price reached $1528.10 today. At the session low today, the price stalled at its 200 hour moving average (green line in the chart below). On Tuesday, its low also approached the 200 hour moving average and found buyers.
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President Donald Trump held a conference call with the CEOs of the three biggest U.S. banks as the stock market plunged Wednesday. Trump held the call with J.P. Morgan Chase CEO Jamie Dimon, Bank of America‘s Brian Moynihan and Citigroup‘s Michael Corbat, according to people with knowledge of the situation. The Dow plunged 800 points, or 3%, in
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The allegations by Madoff whistleblower Harry Markopolos of a $38 billion fraud at General Electric are “at best disingenuous” and “at worst highly inaccurate,” according to Nick Heymann, co-group head of global industrial infrastructure at the William Blair financial services firm. “You got the stock on sale yesterday for absolutely no basis. This is why
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