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Stocks and currencies recover despite the yield curve inversion

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Consider, that while asset markets have sensed a need for the Fed to ease quite drastically, for those who use the curve as a precursor for the U.S., and perhaps global recession , then it is not until rate cuts are really enacted, that we see 2yr yields falling faster than long-end bonds and subsequently we see the curve steepen. Read More »

NJ Unemployment Rate Falls to 3.3 Percent in July, Below National Rate

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Overall, the private sector lost 9,700 jobs (-4 percent). Tulare County's July unemployment rate was 10%, up from 9.1% in June and above 9.9% past year. It rose to 3.3 percent in July. Over-the-year employment growth in Virginia has been positive for 64 consecutive months. Over the month, public sector employment was lower by 300 jobs. Read More »

China says it may retaliate against new USA tariffs

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Any trade deal the United States makes with China must be on U.S. terms, Donald Trump said on Thursday, as Beijing prepared to take countermeasures in response to the Republican U.S. It's got to be a deal, frankly, on our terms. Now, at some point, they may have to pay something. "By not turning back, they will ultimately hit the wall and break their heads". Read More »

London stock market opens higher after delay

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An LSE spokeswoman said a "technical issue had affected trading in some securities", but she had no further detail on the cause of the fault or when the problem might be resolved. In the first few minutes, the FTSE 100 gained 0.8 per cent to reach 7,124. The last time there was a significant delay to the opening of the exchange was in June a year ago, when it opened an hour later than normal because of a software issue. Read More »

Bakkt Secures CFTC Green Light to Launch Physical BTC Futures

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Do you think Bakkt Bitcoin futures launch will provide a significant boost to the cryptocurrency market? In an ensuing statement in the announcement, Loeffler said "we have customers and clearing members already in the test environment", she further said, "We anticipate with the finalization of the September 23 launch date user acceptance testing will accelerate and we will work with customers on onboarding and getting ready for day one". Read More »

Pro-China rally counters pro-democracy demo in Hong Kong

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Activists are billing two planned rallies on Saturday and Sunday as a way to show Beijing and the city's unelected leaders that their movement still enjoys broad public support, despite increasingly violent tactics deployed by a minority of hardcore protesters that have cast a shadow. Read More »

Bugatti’s Centodieci Is A 1,578 HP Tribute To The EB110

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Since the auto draws inspiration from the EB110, that was introduced in 1991 on Ettore Bugatti's 110th birthday, it has a unique design which recalls the classic supercar. The overhanging rear wing is permanently attached in the style of the original EB110 SS but is mechanically adjustable in its angle of inclination. A large air outlet covers the width of the auto (again, to serve that W-16), the engine can be seen through a clear cover, and a huge rear diffuser works its aero magic. Read More »

Rove: Warren, Biden Numbers Set up 'Interesting Dichotomy'

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A new poll shows Sen. Kamala Harris at 8%, and former representative Beto O'Rourke tied at 5% with Mayor Pete Buttigieg to round out the top six. Although Biden is polling at 21 percent, his lead over Warren has all but disappeared and is well within the poll's 2.6 percent margin of error. Read More »

Markets Right Now: Stocks end a bumpy day mostly higher

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But recession worries were enough to send the Dow Jones Industrial Average down more than 650 points - or, 2.5 percent - on the move in yields. The S&P 500 fell 29.97 points, or 1%. The Stoxx Europe 600 rose 1.2% after a top official at the European Central Bank said that it would announce a package of stimulus measures at its next policy meeting in September that should exceed investors' expectations. Read More »

Oil price edges up

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Oil prices fell more than 1 percent on Thursday, extending the previous session's 3% drop, pressured by mounting recession concerns and China's threat to impose counter-measures in retaliation for the latest United States tariffs on $300 billion of Chinese goods. Read More »

Buffett's Berkshire makes bigger Amazon bet, boosting stake 11%

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Hence, when he discloses about the investments made by his company Berkshire Hathaway, then it is big news. Securities and Exchange Commission filings show that Berkshire now owns 537,300 Amazon shares worth $947 million, up from the 483,300 shares that it reported in June. Read More »

China signals retaliation against new U.S. tariffs imminent

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The dispute between the world's two biggest economies has rattled financial markets for more than a year and clouded the global economy. The U.S. Treasury yield curve inverted for the first time since 2007 - a possible recession signal - after China's industrial output growth hit a 17-year low in July and Germany reported a second-quarter contraction in gross domestic product output. Read More »

Cathay Pacific CEO Hogg Resigns Amid Hong Kong Protests

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The news comes after two pilots were fired for joining the illegal protests, which Beijing has repeatedly slammed as Western interference from the U.S. We're not doing anything wrong. "So we are fighting for the thing we were guaranteed". China's paramilitary People's Armed Police have been holding drills this week across the border in Shenzhen, fueling speculation they could be sent in to suppress the protests. Read More »

Royal Caribbean: Two Calls to Coco Cay on Select Sailings

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In a statement about Wednesday's incident, Royal Caribbean said: "We are deeply saddened by the tragic incident that occurred on the Symphony of the Seas en route to Saint Thomas this morning". Thomas today at around 7:00 AM. Symphony of the Seas has a passenger capacity of 5,500 guests covered under various cruise deals. It also keeps a tab on cruise lines that do not have overboard detection systems in place. Read More »

Alibaba Reports 42 Percent Revenue Increase Bolstered By Online Retail Sales

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Alibaba and Chinese tech firm Netease are in talks on the internet giant's potential acquisition of its cross-border e-commerce platform Kaola, which would be merged with Tmall. Alibaba said on Thursday that revenue rose 42%, to $16.7 billion. Aside from that, the NYSE-listed shares of Alibaba, which has been making money by selling promo services and ads to third-party merchants through its Taobao and Tmall sites, rose as much as 4.91 per cent to $170.11 per share in the pre-market trading, ... Read More »

Oil Erases Gains On Crude Inventory Build

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In the previous week ending August 2, API reported a decrease of 3.4 million barrels of crude oil inventories, while the U.S. Energy Information Administration (EIA) reported a buildup of 2.39 million barrels for the same period. The yield on the US 10-year Treasury note fell below that of the 2-year note, inverting the yield curve for the first time since 2007. U.S. oil output from seven major shale formations is expected to rise by 85,000 barrels per day (bpd) in September to a record ... Read More »

India`s passenger vehicle sales drop at steepest pace in nearly two decades

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While scooter sales were down 12% to more than 5.26 lakh units, motorcycles sales slumped almost 19% to about 9.33 lakh units. It was in December 2000, that the Indian auto industry had last seen a percentage decline bigger than July 2019. "Passenger auto sales are down this time by nearly 36 percent and passenger vehicles overall is down by nearly 31 percent", said Mathur. "If the government announces some relief package then there could be a positive impact during the festive season". Read More »

WeWork reveals loss, revenue growth as it prepares IPO

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What we do know is WeWork is looking to shore up this financial situation ahead of its IPO. Should this continue, however, profitability may not be attainable in the foreseeable future, at least not at the company level. Media captionHow can a company be valued at billions, but not make any profit? The liquidation of assets concerned investors anticipating the IPO. The pair bet that coworking would be big, and they began taking out pricey leases on large commercial spaces in NY and other ... Read More »

Cathay Pacific CEO quits amid Hong Kong storm

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Hogg said these had been "challenging weeks" and it was right for Loo and him to take responsibility as leaders. "Augustus Tang and Ronald Lam have the experience and depth of knowledge of aviation and our people to be strong and effective leaders of Cathay Pacific at this sensitive time", Cathay Chairman Slosar said about the newly-appointed officers. Read More »

Argentina presidential front-runner says he won't spark default

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Sales of goods from cars to food and beauty products have slowed in recent days, as suppliers hold back shipments while trying to calculate how the weaker peso will affect consumer prices. Bolsonaro said her return to power could put Argentina "on the same path as Venezuela", where a deepening political and economic crisis has forced millions to flee. Read More »

Why US lags behind on graphic cigarette warnings

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One warning label features a photo of a woman with a large lump on her neck next to text that reads "WARNING: Smoking causes head and neck cancer". The graphic warnings will cover the top half of the front and back panels of cigarette packages and at least 20% of the top area of cigarette advertisements. Read More »

Wall Street set to bounce after turbulent week

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The U.S. economy is the most closely watched indicator of a presidential election. Stocks fell sharply Wednesday after a fairly reliable warning signal of recession emerged from the bond market. It also recovered some of its decline and stood at 1.96 percent Thursday afternoon. When investors worry about weaker economic growth and inflation, they tend to pile into Treasurys, which pushes up their prices and in turn pushes down yields. Read More »

Fed's Mester weighing argument for U.S. rate cut

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Speculation of a rare inter-meeting Fed move gained traction among traders amid an escalating U.S. The "mid-cycle cut" has seen emerging markets follow suit, with Brazil, Turkey, Russia, India, and Thailand delivering larger-than-expected rate cuts since. Read More »

Dow posted largest intra-day drop since October as recession fear feathers

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It was the first time such an interest rate inversion had occurred since 2007, at the start of the US recession that was the country's worst economic downturn since the Great Depression of the 1930s. Economic data from China and Germany suggested a faltering global economy, hit by the worsening U.S. Retail sales outpaced expectations in July, indicating that consumer spending, a significant determinant of economic health, is performing well in spite of recession concerns motivated by stock ... Read More »

Fed's Bullard Says U.S. Economy Is Sound Despite Trade Uncertainty

The Dow Jones Industrial Average plunged 800 points to close at 25,478 or nearly three per cent on Wednesday, as recession fears settled in for stock investors. With economies slowing overseas "you have this flight to safety going on", that is pushing down USA rates even though US economic growth is "reasonable", Bullard said in comments on Fox Business Network that seemed to discount the degree to which recent market volatility may figure into the Fed's next decision on interest rates. Read More »

Will Walmart Earnings Be Enough to Put Smiles on Investors’ Faces?

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Walmart's performance was helped by shoppers who spent more at its stores and websites, indicating the United States consumer economy has not lost steam, sending its shares up 5 per cent in premarket trading. Sanford C. Bernstein upgraded Walmart from a "market perform" rating to an "outperform" rating and set a $101.80 price target for the company in a research note on Thursday, May 2nd. Read More »

USA economy problem is not China, but Fed

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Investors are certainly feeling fearful about the development. The U.S. stock market plunged to its worst day of the year on Wednesday, responding to multiple signals that increase the likelihood of a global recession. The "yield curve" refers to how interest rates on Treasury bonds change with the maturity of those bonds. The Fed cut rates in July but gave no clear signal about when it may do so again. Read More »

Trump has talked about buying Greenland for US

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Trump is not the first US president to express an interest in purchasing Greenland due to its strategic location and rich resources. "The president's supposed to be the face of the United States of America", said Johansen, who voted for Democrat Barack Obama in 2012. Read More »

Madoff investigator accuses GE of $38bn fraud

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Markopolos said he had provided an advance copy of his report to an unidentified third party who is betting that the prices of GE securities will decline, in exchange for "later-provided compensation". The market should ignore it". Markopolos said GE will need to set aside that money to cover its long-term care policies in addition to the $15bn it has already begun to set aside. Read More »

"Will Never Have Talks": North Korea Rejects Seoul's Dialogue Pledge

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The development comes in the light of the North's protest against joint military drills conducted by South Korea and the United States, which kicked off last week . The missiles were launched shortly after 8 a.m. Friday (2300 GMT Thursday) and flew around 230 kms (142 miles) to an altitude of 30 kms (18 miles), South Korea's JCS said. Read More »

How major United States stock indexes fared Thursday

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Investors consider yield inversions a reliable recession indicator, as such an inversion has always preceded each recession during the past 50 years. Brent crude, the global standard, lost $1.25 to close at $58.23. "That longer-end rates are rallying does suggest some lack of confidence that the central banks will actually be able to do anything about the slowing global growth momentum", he added. Read More »

Trump says trade war with China will be fairly short

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Earlier this week, Trump administration officials clarified which tariffs they would increase September 1, leaving certain Chinese goods off the list until December, like laptops, cellphones and toys. "Trump is looking for a way out. It also shows that both China and the US are highly dependent on each other, and the practice of imposing tariffs does not necessarily bring China to its knees", he said. Read More »