Boeing

Global Stocks Jump, Crude Booms As Yellen Looms

S&P futures were fractionally higher (+0.1% to 2,476) with all eyes on the Fed's rate decision as investors await another earnings deluge from companies including Facebook, Coca-Cola and Boeing. Asian and European shares were also higher, the Dollar rebound continued while oil rose above $48 as copper hit a two year high.

EU To Retaliate "Within Days" If US Imposes New Sanctions On Russia

According to an internal memo leaked to the press, Brussles said it should act "within days" if new sanctions the US plans to impose on Russia prove to be damaging to Europe’s trade ties with Moscow. Retaliatory measures may include limiting US jurisdiction over EU companies.

EU "Sounds Alarm" Over New US Sanctions On Russia; Germany Threatens Retaliation

The European Union "sounded an alarm on Saturday" about moves in the U.S. Congress to step up U.S. sanctions on Russia, urging Washington to keep coordinating with its G7 partners. In a statement by a spokeswoman after Republicans and Democrats in the U.S. Congress reached a deal that could see new legislation pass, the European Commission warned of possibly "wide and indiscriminate" "unintended consequences."

Adventures In 'Quantitative Tightening'-Lane

"Here, in the spirit of modest contemplation, we offer several hunches, inklings, conjectures, and guesses as to what quantitative tightening might mean. These are not predictions. They’re merely a starting point from which you can extend out your own visions into the future..."

Bond Selloff Returns As EM Fears Rise; Oil Slides; BOJ Does Not Intervene

U.S. index futures point slightly lower open. Asian shares rose while stocks in Europe fell as energy producers got caught in a downdraft in oil prices and reversed an earlier gain after Goldman unexpectedly warned that WTI could slide below $40 absent "show and awe" from OPEC.

Key Events In The Coming Busy Week: Yellen, Inflation, Durables And GDP

The main releases this week are the durable goods report on Monday, the Q1 GDP revision on Thursday, and the personal income and spending report on Friday. There are also many speaking engagements by Fed officials including a speech by Fed Chair Yellen on Tuesday.

Frontrunning: June 22

  • European stock markets stumble as oil languishes near lows (Reuters)
  • Some Trump Aides Want a New Leader at the Fed (BBG)
  • Goal of Saudi Shake-Up: Drag Country Into the Modern Era (WSJ)
  • Under fire in Washington, Trump back in campaign mode in Iowa (Reuters)
  • Revenue Slides at Some Trump Businesses, but Vegas Tower Brings Windfall (WSJ)