U.S. stocks fell on Friday, extending a rout that had the S&P 500 erasing its biggest rally in a year, with computer-chip manufacturers especially hard hit a day after Microchip Technology lowered its sales outlook. “Exhaustion has almost set into the market. The volume is getting lower because p…
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Worst week for S&P 500, Nasdaq since May 2012
Former Federal Reserve Chairman Ben Bernanke said on Friday on that prior to the 2008 bailout of American International Group (AIG.N), he was concerned that the insurer “was on the brink of default” and not about punishing AIG. Bernanke’s comments came in a fifth day of testimony by former top g…
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Ex-Fed Chair Bernanke: wanted to stop AIG default, not punish firm
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Traders in Financial Futures – Options and Futures Combined Positions as of October 7, 2014
•ECB doesn’t have an interest rate target •Quantitative easing is not being discussed •ECB should first see how current measures work Nowotny made similar comments on sovereign QE before. The currency jawboning along with the France ratings news is a good reason to sell the euro late in the week.
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Nowotny: ECB expects a depreciation of the euro against the dollar
BREAKING
Thank you for that introduction. It’s a pleasure to be here before such an esteemed audience of bankruptcy professionals. You might be wondering why a central banker, the head of a regional Federal Reserve Bank, is interested in bankruptcy — particularly since distressed banks and other financial…
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Lacker: Rethinking the Unthinkable: Bankruptcy for Large Financial Institutions
A key gauge of deflation risk in Europe is flashing red, dropping to record lows on fears of fresh recession and lack of decisive action by the European Central Bank. …
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Dam breaks in Europe as deflation fears wash over ECB rhetoric
•Not much inflation in the US, growth is picking up •US not experiencing significant inflationary pressure •US growth will accelerate in the next six months Not very hawkish for a super-hawk. I’m starting to believe there’s little hope for a Fed hike in the first 5 months of 2015.
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Fed’s Fisher: All told, our economy is on the mend
U.S. investors in Canada’s medical marijuana industry are betting they will not fall under the scrutiny of U.S. law enforcement officers – but it is a risky bet. With marijuana still illegal on a federal level in the United States, American investors in Canadian medical marijuana can be seen as v…
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U.S. DEA ‘most interested’ in U.S. investors in Canadian marijuana firms
Late on Sunday evening, as the markets open in Asia for a fresh week’s trading, China will report its latest round of trade balance data. A number of nations rely on China for high proportions of their export revenues, and so the data will be closely watched by global markets in order to gauge th…
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Chinese Trade Balance Data Could Put Pressure on the Aussie
Outside of crisis periods — and we aren’t in one — the U.S. Federal Reserve normally behaves and speaks as if the U.S. is essentially a closed economy. Not so at its last policy meeting. The minutes released this week contain an unusual focus on both the world economy and the value of the dollar;…
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Why Is the Fed Thinking Globally?
Alarmed by faltering euro zone growth, top finance officials from around the globe on Friday were expected to press their European peers for action to avert a recession and ward off deflation. The International Monetary Fund, which cut its global growth forecasts for the third time this year ear…
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Europe’s weakness in global focus as recession fears gather
• GBP/JPY continues to move with in a declining channel. The hourly support at 173.44 (08/10/2014 low) is challenged. A more significant support stands at 172.99. Hourly resistances can be found at 175.15 (07/10/2014 high) and 175.91 (03/10/2014 high, see also the declining channel). • In the long…
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GBP/JPY – Challenging its recent lows
The Swiss National Bank has lashed out at the so-called “gold initiative” efforts to “Save Our Swiss Gold” unsurprisingly proclaiming it as a bad idea. As Ron Paul previously noted, “The gold referendum, if it is successful, will be a slap in the face to those elites,” and so the full-court press…
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Swiss National Bank Explains Why It Is Against Repatriating Gold
The Bank of Canada’s survey on the business outlook was released early. Balance of opinion on future sales 35 vs 24 prior Investment in machinery and equip 20 vs 24 prior Hiring intentions 44 vs 28 Price inflation expectations 9 vs 8 prior
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Canadian business optimism rose in Q3 – BOC survey
Portland, Oregon-based Wells Fargo branch employee Tyrel Oates emailed the bank’s CEO asking for a $10,000 raise for himself and his colleagues, the Charlotte Observer reported. He also CC’d 200,000 other Wells Fargo employees on the email to CEO John Stumpf. Talk about some chutzpah! Oates c…
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A Wells Fargo Employee Emailed The CEO Asking For A $10,000 Raise And CC’d 200,000 Other Employees
Portland, Oregon-based Wells Fargo branch employee Tyrel Oates emailed the bank’s CEO asking for a $10,000 raise for himself and his colleagues, the Charlotte Observer reported. He also CC’d 200,000 other Wells Fargo employees on the email to CEO John Stumpf. Talk about some chutzpah! Oates c…
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A Wells Fargo Employee Emailed The CEO Asking For A $10,000 Raise And CC’d 200,000 Other Employees
Against the backdrop of an uneven global recovery, which is also influencing the shape and strength of the euro area upturn, the ECB has been determinedly pursuing its mandate of maintaining price stability over the medium term for the euro area. Following four quarters of moderate expansion afte…
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Statement by Mario Draghi, President of the ECB, at the Thirtieth meeting of the IMFC
Get ready for more rough sailing! Just in case this week’s string of 200-point-plus swings in the Dow (three in a row and counting, now), whipsawing currencies, and collapsing oil prices didn’t already make it clear, volatility is back. It is going to make trading and investing a heck of a lot mo…
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Volatility is back and there’s no place to hide
Get ready for more rough sailing! Just in case this week’s string of 200-point-plus swings in the Dow (three in a row and counting, now), whipsawing currencies, and collapsing oil prices didn’t already make it clear, volatility is back. It is going to make trading and investing a heck of a lot mo…
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Volatility is back and there’s no place to hide
