With the threat of a potential 'black swan' event with a Trump Victory, The Elite have pulled out their "Ace in the Hole" - Russia. Russia is the most feared and misunderstood of all US artificial villians (even more than Islamic Terrorists).
As a result of this projected decline in EPS, Apple is expected to be the largest detractor to expected earnings growth for the S&P 500 Information Technology sector for Q3 2016. The blended earnings growth rate for the Information Technology sector is 4.2%. Excluding Apple, the blended earnings growth rate for the sector would improve to 10.9%.
"Even if he’s as bad as he sometimes projects to be, he’s not as bad as Hillary’s policy-record already is." Sometimes, things in politics are the opposite of the way they seem. The Presidential contest between the ‘liberal’ Hillary Clinton’ and the ‘conservative’ Donald Trump is perhaps the most extreme example of this - for these ten reasons...
One day after Deutsche Bank stock soared from all time lows, on the back of what so far appears to have been a fabricated report sourced by AFP which relied on Twitter to "inform it" that the DOJ would reduce its RMBS settlement with the German Lender, today Bloomberg reported that Deutsche Bank and six of its managers were charged in Milan for colluding to falsify the accounts of Italy’s third-biggest bank and manipulate the market.
Deutsche Bank concerns just went to '11' as Bloomberg reports a number of funds that clear derivatives trades with Deutsche Bank AG have withdrawn some excess cash and positions held at the lender, a sign of counterparties’ mounting concerns about doing business with Europe’s largest investment bank.
Until minutes ago, this week's rebound in global equities appeared to be running out of steam as oil retreated from a two-week high and a dollar slide ended. However, as noted just around 6am, Reuters reported, citing as it usually does various "anonymous sources", that in a radical departure from its long-held policy of not cutting production, Saudi Arabia was prepared to cut production on condition that Iran freezes output, which led to an instant spike in crude.
As the market's comatose trading range continues with no notable moves for nearly 40 consecutive days, there is some hope volatility may return after today's main event, the ECB's announcement due in just two hours, when Mario Draghi may surprise the market in either direction. As of today, the S&P500 has held in a band of 1.5% for 39 days, the narrowest ever for that length of time.
With the US taking the day off to celebrate the unofficial end of the summer, global markets have been relatively quiet, aside from the dramatic moves in the energy sector over the past few hours, where crude soared in early trading as reported previously on a much-hyped joint statement by the energy ministers of Saudi Arabia and Russia, only to see the spike fizzle.
More than half of the Clinton Foundation’s major donors would be prevented from contributing to the charity under the proposed self-imposed ban. The analysis, which examined donor lists posted on the foundation’s website, found that 53% of the donors who have given $1 million or more to the charity are corporations or foreign citizens, groups or governments. The list includes the governments of Saudi Arabia and Australia, the British bank Barclay’s, and major U.S. companies such as Coca-Cola and ExxonMobil.
"This race is a lot closer than people think, and media headlines re:polls are probably being spun across the board... This is how elections are really rigged. Far before people ever get to the voting booths."
Economist Paul Krugman is whining for more fiscal stimulus, his favorite pastime by far. Krugman’s target this time is Japan... "The average 5th grader understands it’s absurd to pay money for something guaranteed to be useless, but the average Keynesian economist doesn’t."
Four years after selling the HuffPo to AOL Arianna Huffington has had enough, and as she announced moments ago, she is stepping down as Editor-in-Chief of the Huffington Post to run a new health and wellness venture.
Today the story of Goldman's theft of confidential Fed information got its closure, when the Fed announced that Goldman Sachs has agreed to pay $36.3 million to settle allegations by the Federal Reserve that it obtained and used confidential regulatory materials from the central bank two years ago. This amounts to 0.1% of the firm's 2015 revenue of $33.8 billion.