Markets and Economy
BHP names packaging guru MacKenzie as new chairman
Fri, 16 Jun 2017 03:34:05 GMT
SYDNEY/MELBOURNE (Reuters) - Mining giant BHP on Friday named successful packaging executive Ken MacKenzie as its next chairman, handing him the job of tackling calls to dump its oil business and overhaul the board.
U.S. acts to seize stolen assets, Picasso in probe of Malaysian fund
Fri, 16 Jun 2017 01:28:52 GMT
WASHINGTON (Reuters) - The Justice Department took legal action on Thursday to recover about $540 million in assets that authorities say were stolen by financiers associated with a sovereign wealth fund established by Malaysia's prime minister, including a Picasso painting that was given to actor Leonardo DiCaprio and the rights to two Hollywood films.
Former Oracle board member dogged by links to China-backed chip deal
Fri, 16 Jun 2017 01:05:35 GMT
SAN FRANCISCO/NEW YORK (Reuters) - As the ultimate corporate insiders, board members are presented with plenty of opportunities to cash in on their sector knowledge and connections.
Air bag maker Takata to file for bankruptcy this month: sources
Fri, 16 Jun 2017 01:02:33 GMT
NEW YORK/WASHINGTON (Reuters) - Takata Corp, the Japanese company facing billions in liabilities stemming from its defective air bag inflators, is preparing to file for bankruptcy as early as next week as it works toward a deal for financial backing from U.S. auto parts maker Key Safety Systems Inc, sources said on Thursday.
U.S. stock ETF inflows balloon to largest of 2017: Lipper
Thu, 15 Jun 2017 23:49:25 GMT
NEW YORK (Reuters) - Investors raced into U.S.-based, stock exchange-traded funds this past week despite market jitters, delivering the most cash to those funds since late last year, Lipper data...
Kyle Bass still short yuan, says China credit bubble 'metastasizing'
Thu, 15 Jun 2017 23:44:34 GMT
NEW YORK (Reuters) - Hayman Capital Management founder Kyle Bass on Thursday said he remains short the Chinese yuan despite the country's latest change to the guidance rate, because he believes...
Fund started by ex-Corvex, Trian partners shutting down
Thu, 15 Jun 2017 23:34:05 GMT
(Reuters) - Two former partners at hedge funds Corvex Management LP and Trian Management LP are winding down the fund they launched late last year, after making just a few investments.
Is the Fed ready to consider lifting its inflation target£
Thu, 15 Jun 2017 23:31:12 GMT
WASHINGTON (Reuters) - Years of tepid economic recovery have Fed Chair Janet Yellen and other central bankers considering what was once unthinkable: abandoning decades-long efforts to hold inflation down and allowing price expectations to creep up.
Booz Allen Hamilton says DOJ investigating its accounting practices
Thu, 15 Jun 2017 23:19:47 GMT
(Reuters) - The U.S. Department of Justice is investigating some of the ways Booz Allen Hamilton Holding Corp , one of the largest consulting firms in the world, charges the government for services and accounts for costs, the company said in a filing on Thursday that sent its shares down 12 percent after the bell.
Dow, DuPont merger wins U.S. antitrust approval with conditions
Thu, 15 Jun 2017 23:13:36 GMT
(Reuters) - DuPont and Dow Chemical Co have won U.S. antitrust approval to merge on condition that the companies sell certain crop protection products and other assets, according to a court filing on Thursday.
New Zealand Manufacturing Sector Picks Up Steam
Thu, 15 Jun 2017 22:55:46 GMT
The manufacturing sector in New Zealand continued to expand in May, and at a faster rate, the latest survey from Business NZ showed on Friday with a Performance of Manufacturing Index score of 58.5.
Travel companies brace for Trump's Cuba policy announcement
Thu, 15 Jun 2017 22:46:00 GMT
Airlines, hotel companies and cruise lines are bracing for President Donald Trump's announcement on his Cuba policy.
Snap sinks to IPO price for first time since market debut
Thu, 15 Jun 2017 22:39:15 GMT
SAN FRANCISCO (Reuters) - Shares of Snap Inc dropped 4.9 percent on Thursday to their initial public offering price, highlighting investors' loss of confidence in the social media company that faces fierce competition from Facebook.
Wal-Mart may beat Amazon's sales growth in back-to-school season: NPD
Thu, 15 Jun 2017 22:23:46 GMT
(Reuters) - Wal-Mart Stores Inc's online sales is likely to grow double than Amazon.com Inc during the back-to-school season, helped by the Jet.com acquisition and competitive price offerings, industry research body NPD said.
Japan Rate Decision On Tap For Friday
Thu, 15 Jun 2017 22:00:46 GMT
The Bank of Japan will on Friday wrap up its monetary policy meeting and then announce its decision on interest rates, highlighting a modest day for Asia-Pacific economic activity.
Booz Allen stock plummets on word of federal government probe
Thu, 15 Jun 2017 21:49:00 GMT
Booz Allen Hamilton's stock sank 13 percent in afterhours Thursday on news it's the target of a U.S. probe.
Timeshare operator ILG explores merger: Sources
Thu, 15 Jun 2017 21:10:00 GMT
ILG is holding early-stage talks about merging with another company after coming under pressure from a hedge fund.
Old King Coal: Will Coal Stocks Go Up Because of the US Backing Out of the Paris Accord£
Thu, 15 Jun 2017 20:59:15 GMT
According to the U.S. Energy Information Administration of the U. S. Department of Energy, 30% of the electricity generated in the United States comes from coal.
This is a significant source of fuel for generators, primarily due to its low energy production costs compared to natural gas and petroleum.
Some investors believe that the United States withdrawal from the Paris Agreement and the energy policies of the ...

Full story available on Benzinga.com

Op-Ed: I’ve covered Obamacare since day one. I’ve never seen lying and obstruction like this.
Thu, 15 Jun 2017 20:57:00 GMT
If the Senate's strategy of crafting a health-care bill in secrecy works, a lot of people could get hurt, writes Vox's Sarah Kliff.
A Deep Dive On The May IMX's Most Bought And Sold Stocks
Thu, 15 Jun 2017 20:53:17 GMT

Earlier this month, TD Ameritrade Holding Corp. (NASDAQ: AMTD) released its Investor Movement Index data for the month of May.

The release revealed a trend among TD Ameritrade customers toward buying stocks with strong quarterly revenue results and taking profit in several stocks that crested recent highs over the month.

For an in-depth look at the report and how the month's most bought and sold actually fared going into June, read on for analysis of each of the major stocks mentioned in TD Ameritrade's May IMX report.

Stocks Most Bought in May

Apple Inc. (NYSE: AAPL) hit an all-time high at $156.10 on May 11. The company’s first-quarter earnings report showed a beat on projected EPS and a slight miss on projected revenue.

Facebook Inc (NASDAQ: FB)hit an all-time high at $152.79 on May 1, with the social media company’s stock hitting the $152 handle again on May 25. George Soros' 13F showed an increased stake in Facebook, which came 12 ...

Full story available on Benzinga.com

Nomura bond trader fraud trial ends in split U.S. jury verdict
Thu, 15 Jun 2017 20:49:32 GMT
(Reuters) - A federal jury on Thursday delivered a mixed verdict for three former Nomura Holdings Inc traders accused by the U.S. Department of Justice of lying to customers about the prices of...
Dow, DuPont merger wins antitrust approval with conditions
Thu, 15 Jun 2017 20:25:00 GMT
The planned merger of DuPont and Dow Chemical Co. won antitrust approval with a few conditions.
As Rates Fall, Investors Look for Yield in India
Thu, 15 Jun 2017 20:24:04 GMT

Global money continues to flow into India as the Nifty raised for the 5th consecutive month. The market zoomed to all-time highs on account of strong global cues, earnings boost and expectation of good monsoon. The most important characteristic, however, is the retention of investors’ interest in select scrip’s and the bullish undercurrents ruling the sentiment. The retention and rising investor interest is visible in the surge in mutual funds folios in FY17 as retail investors flocked to equity mutual funds. The lull in gold and real estate is also a reason ...

Full story available on Benzinga.com

Steve Sosnick's Bearish Netflix Trade
Thu, 15 Jun 2017 20:10:22 GMT

Steve Sosnick of Interactive Brokers spoke on Bloomberg Markets about an options trade in Netflix, Inc. (NASDAQ: NFLX).

The stock bounced off its 100-day moving average on Thursday, ...

Full story available on Benzinga.com

Benzinga's Option Alert Recap From June 15
Thu, 15 Jun 2017 20:05:46 GMT

Benzinga Pro provides its subscribers with real-time alerts of potentially market-moving options activity.

Here's a recap of the options alerts from Thursday, June 15, 2017. All timestamps are in Eastern Time.

3:59:37 pm: WFM Whole Foods Aug 30.0 Puts: 500 @ ASK $0.60: 3581 traded vs 3813 OI: Earnings 7/26 After Close (est) $33.01 Ref

3:54:56 pm: OCLR <Oclaro Jul 11.0 Calls Sweep: 1327 @ ASK $0.40: 3619 traded vs 19k OI: Earnings 8/1 After Close (est) $9.52 Ref

2:58:02 pm: CPE Callon Pet Jul 9.0 Puts Sweep: 519 @ ASK $0.25: 598 traded vs 3 OI: Earnings 8/7 After Close (est) $10.04 Ref

2:41:29 pm: TWTR Twitter Jun 17.0 Calls Sweep: 2000 @ Above Ask! $0.108: 7152 traded vs 22k OI: Earnings 7/26 Before Open (est) $16.77 Ref

1:27:40 pm: HSY Hershey Jul 120 Calls: 736 @ ASK $1.08: 951 traded vs 71 ...

Full story available on Benzinga.com

$15 Could Be An Important Level For Chicago Bridge & Iron Investors
Thu, 15 Jun 2017 20:03:52 GMT

Engineering, procurement and construction services company Chicago Bridge & Iron Company N.V. (NYSE: CBI) has been on a steep descent since late April. A longer-term chart shows the broader trend has been downward since April 2014 following the post-Great Recession recovery, which took the stock to an all-time closing high of $87.65 on April 2, 2014.

Where will the recent sell-off stall£

The pedigree of the stock can never be doubted despite its recent abysmal showing, as it was once on the radar of billionaire investor Warren Buffett. It was only in February 2016 he exited the stock completely. At that time, the stock was trading short of the $40 mark.

Trump Bump

Trump's promise of invigorating infrastructure boosted several stocks that have exposure to the sector during his campaign period as well as a little after his swearing in. The Trump Bump helped Chicago Bridge & Iron as well, as a result, it had a short uptrend that interspersed the broader downtrend.

From a low of $26.46 on September 21, 2016, the stock rallied through the election and after that, peaking at $36 on February 15, 2017. Incidentally, ...

Full story available on Benzinga.com

Marten Transport Announces Five-For-Three Stock Split
Thu, 15 Jun 2017 20:01:00 GMT

MONDOVI, Wis., June 15, 2017 (GLOBE NEWSWIRE) -- Marten Transport, Ltd. (Nasdaq/GS:MRTN) announced today that its Board of Directors has declared a five-for-three stock split of the company's common stock.  The stock split will be effected in the form of a stock dividend payable on July 7, 2017, to stockholders of record as of June 26, 2017.  Holders of the company's common stock will receive an additional two-thirds share for each outstanding share of common stock held as of the record date.  The stock split will increase the number of outstanding shares of common stock from approximately 32,708,453 to approximately 54,514,088.

Chairman and Chief Executive Officer Randolph L. Marten said, "I am pleased to announce this stock split which reflects our ...

Full story available on Benzinga.com

Jon Najarian Sees Unusual Options Activity In US Steel
Thu, 15 Jun 2017 20:00:59 GMT

On CNBC's "Fast Money Halftime Report", Jon Najarian spoke about unusually high options activity in United States Steel Corporation (NYSE: X).

He said that traders were ...

Full story available on Benzinga.com

Is Russia's Government Corrupt£ Russians Certainly Seem To Think So ...
Thu, 15 Jun 2017 19:56:42 GMT

Russia's opposition leader Alexei Navalny was arrested this week ahead of an anti-corruption protest he was scheduled to take part in. On one hand, images of his arrest could spark mass demand for a government cleanup, but on the other hand images of his arrest could strike fear in people looking to bring about change.

Several Russian-themed exchange-traded funds appear to be unaffected by the news. Shares of iShares MSCI Russia Capped ETF New (NYSE: ERUS) gained 0.31 percent Tuesday morning while the SPDR S&P Russia ETF (NYSE:

Full story available on Benzinga.com

Senate passes sweeping sanctions bill targeting Iran, Russia
Thu, 15 Jun 2017 19:45:00 GMT
The Senate passed financial sanctions against Russia and Iran.
US, South Korea officials push diplomacy as North Korea's dictator grows paranoid of assassination
Thu, 15 Jun 2017 19:24:00 GMT
A North Korea war would be "catastrophic" but the U.S. would ultimately prevail, the US Defense secretary told Congress.
Instinet names new U.S. head of sales for CMS business
Thu, 15 Jun 2017 19:05:34 GMT
(Reuters) - Electronic broker Instinet LLC, a unit of Nomura Holdings Inc, named Scott Douglass as U.S. head of sales for its commission management services (CMS) business, based in New York.
Exiger names new managing director for global investigations practice
Thu, 15 Jun 2017 18:50:58 GMT
(Reuters) - Regulatory risk and compliance firm Exiger named Christopher McCavitt as managing director in the firm's global investigations practice.
Your Money: Money secrets of parents with multiple kids in college
Thu, 15 Jun 2017 18:38:17 GMT
NEW YORK (Reuters) - Sometime soon after his fourth child was born, it dawned on Howard Krooks that he was going to be on the hook for 12 consecutive years of college tuition payments when they all...
Mid-Afternoon Market Update: Lakeland Industries Gains Following Q1 Earnings; Lantheus Shares Plummet
Thu, 15 Jun 2017 18:30:19 GMT

Toward the end of trading Thursday, the Dow traded down 0.18 percent to 21,337.04 while the NASDAQ declined 0.84 percent to 6,142.90. The S&P also fell, dropping 0.41 percent to 2,427.89.

Leading and Lagging Sectors

Non-cyclical consumer goods & services shares rose by 0.1 percent in the US market on Thursday. Top gainers in the sector included Alliance One International, Inc. (NYSE: AOI), Petmed Express Inc (NASDAQ: PETS), and Weight Watchers International, Inc. (NYSE: WTW).

In trading on Thursday, basic materials shares fell by 1.27 percent. Meanwhile, top losers in the sector included Intrepid Potash, Inc. (NYSE: IPI), down 9 percent, and Nucor Corporation (NYSE: NUE), down 7 percent.

Top Headline

Kroger Co (NYSE: KR) posted in-line earnings for its first quarter, but lowered its FY17 adjusted earnings outlook.

Kroger reported Q1 adjusted earnings of $0.58 per share on revenue of $36.3 billion. However, analysts were expecting earnings of $0.58 per share on sales of $35.77 billion.

Kroger now expects FY17 adjusted earnings of $2 to $2.05 per share, versus earlier forecast of $2.21 to $2.25 per share.

Equities Trading UP

Lakeland ...

Full story available on Benzinga.com

These Companies Are Tapping Into The Multi-Trillion-Dollar E-Commerce Industry
Thu, 15 Jun 2017 18:13:26 GMT

Let's face it – everyone is connected to their phones, or glued to their laptops or tablets. Consumers are always connected and are able to shop online for nearly everything they need. It’s efficient and convenient enough for consumers to shop online nowadays, and as the number of global internet users grows, the e-commerce industry should thrive.

E-commerce companies like Amazon.com Inc (NASDAQ: AMZN), Shopify Inc (NYSE: SHOP) and BigCommerce are set to grow their revenues and earnings significantly over the medium- and long-term, due to the projected growth of the industry.

Let’s take a look at the projected growth of e-commerce customer bases and transactions, as well as how some of the key players in the market are positioned to benefit from the e-commerce business boom.

 

 

E-Commerce Sales Set to Grow to Over $4 Trillion

The ongoing global expansion of the Internet has fueled the transformation of world trade, as well as transactions in stores. E-commerce is simply buying and/or selling products through the internet, and it serves as a more efficient and convenient way of shopping. Now, there are several e-commerce solutions out there, but the popular types are business-to-business (B2B), enterprise, small business, business-to-consumer (B2C) and consumer-to-consumer (C2C).

According to Statista, over 40% of global internet users purchased products online, and this number is projected to grow to 57.6% by 2019.

 

Source: Statista

The potential growth in the number of digital buyers across the globe should fuel the continued growth of retail e-commerce sales. Between 2014 and 2020, worldwide e-commerce sales are set to grow from $1.336 trillion to $4.058 trillion, according to Statista.

Check out the forecast of worldwide e-commerce sales between 2014 and 2020, below.

 

With the immense projected growth rates in the e-commerce space, the brick-and-mortar landscape is becoming obsolete. Pure e-commerce companies have a one up on traditional retailers looking to get into the space, due to the difficulty in figuring out the best user and brand experiences. Retailers may start adapting to the changes in technology, in an attempt to compete for customers. In turn, this could drive companies to leverage solutions ...

Full story available on Benzinga.com

History Is Repeating Itself In The Oil Market, Pro Explains
Thu, 15 Jun 2017 18:10:29 GMT

History is repeating itself in the oil market — at least its short-term history.

Daniel Yergin, IHS Markit vice chairman, was a guest on CNBC's "Squawk Box" and offered two reasons to explain why oil prices are "back to the past." First, oil inventories are now 10 percent higher than it was in the past, and second, the "remarkable" rebound in U.S. shale — or "shale 2.0" remains underway.

The falling oil prices is prompting OPEC members ...

Full story available on Benzinga.com

Bitcoin Is Having A Brutal Day
Thu, 15 Jun 2017 17:29:00 GMT

The price of one bitcoin traded as low as $2,115.85 on Thursday before recovering some of the day's losses and trading above $2,350. Nevertheless, the digital currency is still lower by more than 8 percent compared to Wednesday's close, demonstrating just how volatile the market for bitcoin can be.

As a whole, the combined global value of digital currencies were trading below $100 billion on Thursday, CNBC reported. By comparison, the global market value of digital currencies hit a record of ...

Full story available on Benzinga.com

Trump wants 4.5 million new apprenticeships in five years — with nearly the same budget
Thu, 15 Jun 2017 17:25:00 GMT
Trump wants to sharply boost the number of apprentices working in the U.S., without spending much more to do so.
Can A New CEO Put The Strength Back In US Steel£
Thu, 15 Jun 2017 17:23:59 GMT

Looking ahead at a busy next two weeks for the U.S. steel industry (Section 232, inventory data, mid-quarter updates, WSD/AMM Steel Success Strategies conference), BMO Capital Markets analyst David Gagliano rated the United States Steel Corporation (NYSE: X) as Market Perform.

Under new CEO David Burritt, the leading steel producer has been focused on improving its flat-rolled operations and increasing the size of its asset revitalization program. Gagliano had a chance to meet with Burritt and discuss his future plans for the company (see David Gagliano's track record).

3 Key Takeaways

    1. Burritt highlighted that management has been pushing hard to increase the spending in its asset revitalization program in order to improve ...

Full story available on Benzinga.com

Don't Have Your Eye On China£ You Should
Thu, 15 Jun 2017 17:19:40 GMT

On June 20, mainland Chinese equites (A-shares) are again up for inclusion into MSCI’s definition of China within their Global Standard Indexes. Why is this important to global investors£ MSCI indexes have $10 trillion in benchmarked assets with $1.6 trillion tracking the MSCI Emerging Markets Index alone1. The inclusion could trigger significant inflows into mainland Chinese equities.

We believe there has been a positive ...

Full story available on Benzinga.com

Your money: Consumers grapple with tip inflation
Thu, 15 Jun 2017 17:02:11 GMT
NEW YORK(Reuters) - When Alexander Koury took his cats to get groomed a few weeks ago, he got a bit of a shock at the checkout counter.
Trump Warming Up To Yellen£ Economists See High Odds Of Her Renomination
Thu, 15 Jun 2017 16:11:10 GMT

As the din on the fourth interest rate hike in the current normalization cycle settles down, the focus shifts to whether the Federal Reserve will have a change of guard at the helm when the incumbent Janet Yellen completes her term on February 3, 2018.

Keen On Serving Out The Full Term

At the post-meeting press conference Wednesday, Yellen reiterated her earlier assertion that she intends to serve out her full term. This has served to dispel rumors that she may be relinquishing office mid-way through. Following Ben Bernanke's tenure as the Fed chair, Yellen was nominated to the post by former President Barack Obama.

Partisanship Coloring Trump's Stance

During his campaign trail, Trump had said in an interview to the CNBC that he would fire Yellen simply because she is not a Republican. This is despite he in agreement with the ultra-loose monetary policy the Fed under Yellen was ...

Full story available on Benzinga.com

Trump Warming Up To Yellen£ Economists See High Odds Of Her Renomination
Thu, 15 Jun 2017 16:11:10 GMT

As the din on the fourth interest rate hike in the current normalization cycle settles down, the focus shifts to whether the Federal Reserve will have a change of guard at the helm when the incumbent Janet Yellen completes her term on February 3, 2018.

Keen On Serving Out The Full Term

At the post-meeting press conference Wednesday, Yellen reiterated her earlier assertion that she intends to serve out her full term. This has served to dispel rumors that she may be relinquishing office mid-way through. Following Ben Bernanke's tenure as the Fed chair, Yellen was nominated to the post by former President Barack Obama.

Partisanship Coloring Trump's Stance

During his campaign trail, Trump had said in an interview to the CNBC that he would fire Yellen simply because she is not a Republican. This is despite he in agreement with the ultra-loose monetary policy the Fed under Yellen was ...

Full story available on Benzinga.com

Art Cashin warns the Fed: 'Wake up,' the economy isn't as good as it looks
Thu, 15 Jun 2017 15:49:00 GMT
"It's not that the economy is on life support but it's certainly not robust," UBS trader Art Cashin tells CNBC.
The new coal jobs the Trump team is touting might not actually exist
Thu, 15 Jun 2017 15:36:00 GMT
The Trump administration is using preliminary estimates to claim actual coal mining jobs are being created.
Homebuyers living in these cities need to move fast if they find a house they like
Thu, 15 Jun 2017 15:35:00 GMT
The competition for housing is heating up with the summer thermometer and continuing to set new records.
Factory output declines for second time in past three months
Thu, 15 Jun 2017 15:27:00 GMT
U.S. factory output fell unexpectedly in May on a broad decline in production.
Does Alibaba's Jack Ma Need To Better Watch What He Says£
Thu, 15 Jun 2017 15:22:51 GMT

Whether it is justified or not, business leaders in Western countries have the freedom to exclaim their company is more powerful than nation states. But in China doing so may be viewed as crossing the red line, the most recent example being Alibaba Group Holding Ltd (NYSE: BABA)'s founder and chairman Jack Ma, Bloomberg reported.

Ma told Alibaba's investors during a presentation day last week his vision, a vision in which he believes the company would rank as the world's fifth largest economy, trailing just the U.S., China, Europe and Japan. The Chinese e-commerce behemoth ...

Full story available on Benzinga.com

Column: Yes, disability insurance really is part of Social Security
Thu, 15 Jun 2017 15:22:42 GMT
CHICAGO (Reuters) - Quiz time: what do the letters “SS” stand for in SSDI£
Revisiting An Overlooked Precious Metals ETF
Thu, 15 Jun 2017 15:14:16 GMT

The U.S. dollar is one of this year's most disappointing developed market currencies, but that is not helping the commodities complex. Most commodities, an asset class denominated in dollars, are sagging, but some precious metals have been notable exceptions.

Among exchange-traded products, the ETFS Gold Trust (NYSE: SGOL) is up 9.4 percent year to date while the ETFS Physical Palladium Shares (NYSE: PALL) is up a stunning 26.9 percent. Sturdy precious metals prices are helping the ETFS Precious Metals Baskets Trust (NYSE: GLTR) to a year-to-date gain of more than 8 percent.

All That Glitters ...

GLTR holds a basket of physical gold, silver, palladium and platinum.

“Given this action in Precious Metals ...

Full story available on Benzinga.com

Revisiting An Overlooked Precious Metals ETF
Thu, 15 Jun 2017 15:14:16 GMT

The U.S. dollar is one of this year's most disappointing developed market currencies, but that is not helping the commodities complex. Most commodities, an asset class denominated in dollars, are sagging, but some precious metals have been notable exceptions.

Among exchange-traded products, the ETFS Gold Trust (NYSE: SGOL) is up 9.4 percent year to date while the ETFS Physical Palladium Shares (NYSE: PALL) is up a stunning 26.9 percent. Sturdy precious metals prices are helping the ETFS Precious Metals Baskets Trust (NYSE: GLTR) to a year-to-date gain of more than 8 percent.

All That Glitters ...

GLTR holds a basket of physical gold, silver, palladium and platinum.

“Given this action in Precious Metals ...

Full story available on Benzinga.com

Fed Reaction: Markets Knew What Was Coming And Behaved Accordingly
Thu, 15 Jun 2017 14:39:39 GMT

Market expectations were spot-on again regarding the direction the Federal Reserve would take on interest rates. As widely predicted, the Fed stepped up the target Fed funds range another 25-basis points to 1% to 1.25% to put it fully across the 1% threshold for the first time since 2008.

The CME FedWatch Tool, a predictive measure of interest rate hikes that uses Fed funds futures, left barely a shadow of a doubt that today’s rate hike was imminent with an unusually lofty 95.8% probability ahead of the announcement. And given the Fed’s predilection for foreshadowing to avoid a market meltdown, any other move might have had negative effects.

The big news wasn’t so much the widely-anticipated rate hike, but rather that the Fed does plan to start tapering its balance sheet this year. According to the post-hike statement, “The Committee currently expects to begin implementing a balance sheet normalization program this year, provided that the economy evolves broadly as anticipated."

So we know it’s likely to happen, but there’s still no details on exactly when or how much. The Fed’s balance sheet currently stands at around $4.5 trillion, and it’s possible that by re-injecting some of those funds back into the market, the Fed could cause borrowing costs to rise even if it doesn’t execute further rate hikes.

Market reaction looked muted in the minutes after the announcement, with most major indices remaining near record highs but still pretty flat for the day.

Another takeaway from the Fed’s statement is that it may be realizing its original inflation target might have been too aggressive. It now says it expects inflation to stay under its 2% target “in the near term” but to stabilize near 2% over the medium term. The wording about inflation staying under 2% in the near term is new, and wasn’t in the May meeting statement. It likely reflects some weak inflation data lately, including today’s Consumer Price Index (CPI) for May.

In her post-meeting press conference, Fed Chair Janet Yellen said economic fundamentals remain solid, and cited the continued fall in unemployment. She said she expects the job market to strengthen somewhat further. On inflation, Yellen noted that core inflation has “edged lower,” driven significantly by what appeared to be “one-off” reductions in certain categories of prices like wireless telephone services and pharmaceuticals. With employment near its maximum sustainable level, the Committee still expects inflation to move up and stabilize at near 2% over the next couple of years, she added, but said the Fed is monitoring inflation closely due to the recent softness.

Yellen said the federal funds rate remains slightly below its “neutral rate,” even though neutral is low by historic standards. Interest rates, she said, don’t have to rise much to reach it, but additional, “gradual” ...

Full story available on Benzinga.com

Indonesia Keeps Key Rate Steady For Eighth Month
Thu, 15 Jun 2017 14:29:34 GMT
Indonesia's central bank left its key interest rate unchanged for an eighth policy session in a row on Thursday.
U.S. Housing Market Index Shows Unexpected Drop In June
Thu, 15 Jun 2017 14:26:06 GMT
Homebuilder confidence in the U.S. unexpectedly decreased in the month of June, according to a report released by the National Association of Home Builders on Thursday.
It's a 'scary' time with a global crisis on the way, LVMH CEO says
Thu, 15 Jun 2017 14:10:00 GMT
A financial crisis could be just around the corner, according to the chief executive of LVmH, who has described the global economic outlook as “scary”.
Homebuilder confidence slips despite strong demand for new homes
Thu, 15 Jun 2017 14:00:00 GMT
A monthly survey of builder sentiment fell two points in June to 67, and May's reading was revised down a point.
Op-Ed: To defend Trump, the GOP is becoming a party Bill Clinton would love
Thu, 15 Jun 2017 13:57:00 GMT
The GOP's fierce defense of Trump is pretty much straight out of the Democrats' playbook when Bill Clinton was president, David French writes in the National Review.
U.S. Industrial Production Unchanged Amid Drop In Manufacturing Output
Thu, 15 Jun 2017 13:56:32 GMT
With a drop in manufacturing output offsetting increases in mining and utilities output, the Federal Reserve released a report on Thursday showing that U.S. industrial production was unchanged in the month of May.
New York Manufacturing Index Indicates Rebound In June
Thu, 15 Jun 2017 13:54:23 GMT
After reporting a contraction in regional manufacturing activity in the previous month, the Federal Reserve Bank of New York released a report on Thursday showing a rebound in activity in the month of June.
Putin compares former FBI Director Comey to NSA leaker Snowden, offers asylum
Thu, 15 Jun 2017 13:49:00 GMT
The Russian president was slated to take questions from residents all over his country in a phone-in expected to last for several hours on Thursday.
Philly Fed Index Drops More Than Expected In June
Thu, 15 Jun 2017 13:31:25 GMT
Growth in Philadelphia-area manufacturing activity slowed in the month of June, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday.
3D Printing Materials Market Size Globally to Reach USD 1,400.0 Million by 2020
Thu, 15 Jun 2017 13:23:28 GMT

Deerfield Beach, FL, June 15, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled "Global 3D Printing Materials Market (Ceramics, Plastics, Metals and Others) for Electronics & Consumer Products, Automotive, Medical, Industrial, Education, Aerospace and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 - 2020". According to the report, the global 3D printing materials market was valued at approximate USD 500 million in 2014 and is expected to reach around USD 1,400.0 million by 2020, growing at a CAGR of above 15% between 2015 and 2020. In terms of volume, the global 3D printing materials market stood at around 2,250.0 tons in 2014.

The 3D object can be created using additive manufacturing process. Successive layers of material are formed under computer control in additive manufacturing process. In the real sense, 3D printing refers to processes that sequentially deposit material onto a powder bed with inkjet printer heads. Key technologies basically used in 3D printing such as fused material technology and reactive material technology.

Browse through 59 Market Tables and 24 Figures spread through 68 Pages and in-depth TOC on "Global 3D Printing Market - Industry Analysis, Size, Growth, Trends, Segment and Forecast, 2014-2020".

Request Free Sample copy of 3D Printing Materials Market Report @ http://www.marketresearchstore.com/report/global-3d-printing-market-for-electronics-consumer-z37623#RequestSample

Demand for 3D printing materials is driven by increasing use of 3D printing technology. 3D printing is used in a number of industries such as footwear, automotive, architecture, aerospace, electronics, and consumer goods. Materials such as plastics, ceramics metals among others used in 3D printing technology play an ...

Full story available on Benzinga.com

U.S. Import Prices Drop 0.3% In May, More Than Expected
Thu, 15 Jun 2017 13:21:25 GMT
A report released by the Labor Department on Thursday showed a bigger than expected drop in import prices in the month of May, reflecting a steep decline in prices for fuel imports.
Futures Pointing To Initial Weakness On Wall Street
Thu, 15 Jun 2017 13:05:19 GMT
The major U.S. index futures are pointing to a lower opening on Thursday following the mixed performance seen in the previous session.
New York Manufacturing Index Rebounds More Than Expected In June
Thu, 15 Jun 2017 12:48:29 GMT
After reporting a contraction in regional manufacturing activity in the previous month, the Federal Reserve Bank of New York released a report on Thursday showing a rebound in activity in the month of June.
New York factories rebound in June, best showing since 2014
Thu, 15 Jun 2017 12:46:00 GMT
Manufacturing in New York state rebounded this month to the highest level since 2014, another sign of strength for America's factories.
Jobless Claims Fell More Than Expected Last Week, Slip To 237,000
Thu, 15 Jun 2017 12:45:40 GMT
The number of people filing first-time unemployment claims fell last week, according to government statistics released Thursday. The figure came in below the amount economists were expecting. The U.S. Labor Department revealed that initial jobless claims slipped to 237,000 for the week ending June 10.
Bank Of England MPC Split Deepens Amid High Inflation
Thu, 15 Jun 2017 12:45:05 GMT
The Bank of England decided to leave its record low interest rate unchanged on Thursday, but the split among policymakers widened as more members sought a hike, citing the rising inflation. The Monetary Policy Committee, headed by Governor Mark Carney, voted 5-3 to hold the interest rate at a record low of 0.25 percent. However, all eight members voted to maintain the quantitative easing at GBP 4
Philly Fed Index Indicates Slower Growth In June
Thu, 15 Jun 2017 12:43:26 GMT
Growth in Philadelphia-area manufacturing activity slowed in the month of June, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday.
U.S. Import Prices Fall More Than Expected In May
Thu, 15 Jun 2017 12:39:15 GMT
A report released by the Labor Department on Thursday showed a bigger than expected drop in import prices in the month of May, reflecting a steep decline in prices for fuel imports.
Turkey Central Bank Keeps Key Rates Unchanged
Thu, 15 Jun 2017 12:35:52 GMT
Turkey's central bank held its key interest rates steady on Thursday after raising the liquidity rate in the previous meeting.
US import prices slipped 0.3%, more than expected, in May
Thu, 15 Jun 2017 12:33:00 GMT
U.S. import prices were expected to fall 0.1 percent in May, after rising 0.5 percent a month earlier.
US jobless claims fell more than expected as the labor market tightens
Thu, 15 Jun 2017 12:30:00 GMT
The number of Americans filing for unemployment benefits fell more than expected last week, pointing to shrinking labor market slack.
Europe has ‘become a cartoon’ and firms are missing out on investing, GE’s Immelt says
Thu, 15 Jun 2017 12:25:00 GMT
Europe is misrepresented abroad and this could be stopping US companies investing in the region, outgoing General Electric CEO Jeff Immelt said on Thursday.
Russia CB Likely To Cut Key Rate By 25-50 Bps
Thu, 15 Jun 2017 12:06:40 GMT
Russia's central bank is widely expected to cut the key interest rate by 25 basis points to 9.00 percent in June, as disinflation stopped in May, while a half-point call could be justified, Danske Bank Senior Economist Vladimir Miklashevsky said in a report last week.
SeaWorld shareholders vote to remove chairman
Thu, 15 Jun 2017 11:33:00 GMT
SeaWorld investors are increasingly voicing their frustration with board members on matters related to executive and director pay.
Robots taking jobs in five years is BS, GE CEO Jeff Immelt says
Thu, 15 Jun 2017 11:21:00 GMT
The idea that factories will be automated and run by robots in five years is “b-------t”, outgoing General Electric CEO said.
BoE Voted 5-3 To Hold Rate, Unanimous On QE
Thu, 15 Jun 2017 11:20:44 GMT
Policymakers of the Bank of England decided to leave the record low interest rate unchanged, in a split vote, as more policymakers sought a rate hike.
SNB Holds Negative Interest Rates; Cuts Inflation Outlook
Thu, 15 Jun 2017 10:43:33 GMT
The Swiss National Bank kept its expansionary monetary policy unchanged on Thursday and trimmed its inflation forecast reflecting weak price pressures. The interest rate on sight deposits at the central bank was kept unchanged at -0.75 percent and the target range for the three-month Libor was retained between -1.25 percent and -0.25 percent.
Bank of America to lay off more workers
Thu, 15 Jun 2017 10:35:00 GMT
Bank of America has begun laying off employees in its operations and technology division, part of the second-largest U.S. bank's plan to cut costs.
Messaging start-up Slack reportedly said to draw interest from Amazon
Thu, 15 Jun 2017 10:26:00 GMT
Slack Technologies has received inquiries about a potential takeover from tech companies including Amazon.com, Bloomberg reported on Thursday.
South Africa's Wholesale Sales Fall In April
Thu, 15 Jun 2017 10:22:02 GMT
South Africa's wholesale sales decreased in April after rebounding in the previous month, preliminary figures from Statistics South Africa showed Thursday.
Italy Inflation Eases As Estimated In May
Thu, 15 Jun 2017 10:12:21 GMT
Italy's consumer price inflation eased as initially estimated in May, latest figures from the statistical office Istat showed Thursday.
Eurozone Trade Surplus Shrinks In April
Thu, 15 Jun 2017 09:31:05 GMT
The euro area trade surplus decreased in April from a month ago, as exports fell faster than imports, preliminary data from Eurostat showed Thursday.
Economic Data Scheduled For Thursday
Thu, 15 Jun 2017 08:50:41 GMT
  • Data on initial jobless claims for the latest week will be released at 8:30 a.m. ET.
  • The Philadelphia Fed general conditions index for June is schedule for release at 8:30 a.m. ET.
  • Data on import and export prices for May will be released at ...

Full story available on Benzinga.com

UK Retail Sales Fall More Than Forecast
Thu, 15 Jun 2017 08:46:53 GMT
UK retail sales declined more than expected in May, figures from the Office for National Statistics showed Thursday.
Special Counsel investigating Trump for obstruction, says report
Thu, 15 Jun 2017 07:54:00 GMT
Peter Trubowitz, professor of international relations at the London School of Economics, weighs in on news that U.S. President Donald Trump is under investigation.
SNB Keeps Monetary Policy Unchanged
Thu, 15 Jun 2017 07:50:32 GMT
The Swiss National Bank maintained its expansionary monetary policy on Thursday, and reaffirmed its stance to remain active in the foreign exchange market to prevent the franc from appreciating.
BOE's Carney will maximize his flexibility on interest rates: RBC
Thu, 15 Jun 2017 07:42:00 GMT
Sam Hill, senior U.K. economist at RBC, discusses his expectations of today's U.K. interest rate decision by the Bank of England.
Turkey Jobless Rate Falls More Than Expected In March
Thu, 15 Jun 2017 07:35:13 GMT
Turkey's unemployment rate decreased more than expected in March to the lowest level in six months, data from the Turkish Statistical Institute showed Thursday.
Inflation generated solely by sterling weakness, says BOE
Thu, 15 Jun 2017 07:33:00 GMT
CNBC's Gemma Acton updates from the Bank of England on whether the institution will shift towards hawkishness in its monetary policy.
SNB reiterates need for ultra loose monetary policy
Thu, 15 Jun 2017 07:30:00 GMT
CNBCs Carolin Roth updates from Bern, Switzerland, on the Swiss National Bank's decision to keep interest rates at -0.75 percent.
Stay in the market, go long on volatility: Credit Suisse
Thu, 15 Jun 2017 07:27:00 GMT
Anja Hochberg, global head of investment services at Credit Suisse, and Tim Drayson, head of economics at Legal & General Investment Management, discuss their investment strategies.
China's inability to reform will continue to slow growth: Legal & General
Thu, 15 Jun 2017 07:03:00 GMT
Tim Drayson, head of economics at Legal & General Investment Management, discusses the Chinese economy and the Communist Party's clampdown on corruption.
Better EM entry opportunity after the summer: Credit Suisse
Thu, 15 Jun 2017 07:02:00 GMT
Anja Hochberg, global head of investment services at Credit Suisse, says that fundamentals in emerging markets are less dependent on external money than they used to be.
Finland Apr Retail Sales Rise More Than Estimated
Thu, 15 Jun 2017 06:55:04 GMT
Finland's retail sales increased more than initially estimated in April, latest figures from Statistics Finland showed Thursday.
European markets open lower; focus on central banks; Trump investigated
Thu, 15 Jun 2017 06:47:00 GMT
Bourses in Europe open lower as investors digest comments from the U.S. Federal Reserve and wait to hear from the Bank of England and the Swiss National Bank.
Italian banks still trying to extract best deal: Simon-Kucher & Partners
Thu, 15 Jun 2017 06:44:00 GMT
Gianluca Corradi, head of U.K. banking practice at Simon-Kucher & Partners, discusses news that Italian banks Banca Popolare di Vicenza and Veneto Banca will be saved without a bail-in.
Finland Economic Output Expands At Faster Pace
Thu, 15 Jun 2017 06:33:50 GMT
Finland's economic output expanded at a faster rate in April, figures from Statistics Finland showed Thursday.
Euro rally can continue, markets are calm: Legal & General
Thu, 15 Jun 2017 06:28:00 GMT
Tim Drayson, head of economics at Legal & General Investment Management, speaks about the euro zone economy and its "gain in competitiveness."
Eurogroup finance ministers to meet in Luxembourg today
Thu, 15 Jun 2017 06:28:00 GMT
CNBC's Willem Marx reports from Luxembourg on a meeting of European finance ministers, at which Greece's sovereign debt crisis is on the agenda.
At CAGR 14.5%, Smart Home Market Globally Reach $53.45 Billion by 2022: Zion Market Research
Thu, 15 Jun 2017 06:04:36 GMT

Sarasota, FL, June 15, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled "Smart Home Market (Smart Kitchen, Security & Access Control, Lighting Control, Home Healthcare, HVAC Control and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016-2022". According to the report, the global smart home market was valued at around USD 24.10 billion in 2016 and is expected to reach approximately USD 53.45billion in 2022, growing at a CAGR of slightly above 14.5% between 2017 and 2022.

The advanced technology has enabled various devices to be connected and controlled by one device and this technology is used by smart homes. In smart homes, various devices such as lighting, AC, CCTV cameras, smart TV, washing machine, etc., can be controlled by either a remote or a smartphone or tablet. These devices can be switched on or off from a different location even if the device controlling them gets a signal for the same. Homeowners are enjoying more convenience and comfort from basic security monitoring and customized access to window coverings, appliances, lighting, irrigation, entertainment systems and many others. Prominent drivers of smart home adoption are energy efficiency, home security, entertainment, convenience/productivity, remote health monitoring and connectivity.

Browse through 13 Market Tables and 22 Figures spread through 110 Pages and in-depth TOC on "Global Smart Home Market: By Product, Software, Type, Size, Share, Trends, Analysis, Segment and Forecast 2016 – 2022".

Request Free Sample copy of Global Smart Home Market Report @ https://www.zionmarketresearch.com/sample/smart-home-market

The major growth driver for the smart home market includes growing ...

Full story available on Benzinga.com

Expect slower than expected growth in US and China in coming months: Pro
Thu, 15 Jun 2017 05:59:00 GMT
Hao Hong, MD of research and chief strategist at Bank of Communications International, discusses investing in China and how this will be impacted by the U.S. economy.
Indonesia's Exports Surge More Than Forecast
Thu, 15 Jun 2017 05:55:37 GMT
Indonesia's exports grew at a faster-than-expected pace in May, data published by the Central Statistical Agency showed Thursday.
Chance of Fed hitting 'terminal rate' looking terminal: James Saft
Thu, 15 Jun 2017 05:45:12 GMT
(Reuters) - The main thing terminal about the Federal Reserve’s 'terminal' interest rate projections are the chances of rates actually making it that high in the foreseeable future.
Market a little surprised by Fed's hawkish tone: ABN AMRO
Thu, 15 Jun 2017 05:10:00 GMT
Mary Pieterse Bloem, global head of fixed income at ABN AMRO, discusses the U.S. Federal Reserve interest rate decision.
Swiss National Bank expected to keep interest rates on hold at record lows
Thu, 15 Jun 2017 05:10:00 GMT
CNBC's Carolin Roth reports from Bern, Switzerland on the Swiss National Bank's upcoming interest rate decision.
Expect more dovishness from the Bank of England
Thu, 15 Jun 2017 05:10:00 GMT
CNBC's Gemma Acton reports from the Bank of England on how wage growth is impacting the institution's monetary policy.
Luxembourg punches above its weight, can benefit from Brexit: Pro
Thu, 15 Jun 2017 05:10:00 GMT
Tom Theobald, deputy CEO at Luxembourg for Finance, explains what the country has to offer international businesses thinking of leaving the U.K.
Market only expecting one BOE hike in next 3 years
Thu, 15 Jun 2017 05:10:00 GMT
CNBC's Gemma Acton reports from the Bank of England on the strategy behind the institution's monetary policy and how it is managing Brexit uncertainty.
SNB expected to keep rates low, currency still overvalued
Thu, 15 Jun 2017 05:10:00 GMT
CNBC's Carolin Roth reports from Bern, Switzerland, on the Swiss Central Bank's monetary policy strategy.
Big shock is how efficient US shale oil companies have become: Legal & General
Thu, 15 Jun 2017 05:10:00 GMT
Tim Drayson, head of economics at Legal & General Investment Management, says that the "cost curves for U.S. shale oil producers just continue to collapse."
Dutch Retail Sales Growth Remains Stable In April
Thu, 15 Jun 2017 04:52:13 GMT
Dutch retail sales growth held steady in April after accelerating in the previous month, figures from the Central Bureau of Statistics showed Wednesday.
European Economics Preview: BoE Rate Decision Due
Thu, 15 Jun 2017 04:43:58 GMT
The outcome of Bank of England's monetary policy committee meeting is due on Thursday, headlining a busy day for the European economic news. At 2.00 am ET, Statistics Norway publishes foreign trade data for May. The trade surplus totaled NOK 22.2 billion in April.
Australia Unemployment Rate Slips To 5.5 Percent In May
Thu, 15 Jun 2017 03:05:36 GMT
The jobless rate in Australia came in at a seasonally adjusted 5.5 percent in May, the Australian Bureau of Statistics said on Thursday.
Australia Jobless Rate Falls To 5.5% In May
Thu, 15 Jun 2017 01:45:34 GMT
The unemployment rate in Australia came in at a seasonally adjusted 5.5 percent in May, the Australian Bureau of Statistics said on Thursday.
Western Digital seeks injunction to block Toshiba chip business transfer
Thu, 15 Jun 2017 01:14:00 GMT
Western Digital Corp said it has sought an injunction that would stop Japan's Toshiba Corp from selling its NAND chip business.
Fed Chair Janet Yellen's optimism is justified: JPMorgan strategist
Wed, 14 Jun 2017 22:33:00 GMT
Things are on track for three hikes a year and balance sheet normalization, maybe starting in September, Gabriela Santos said.
Marijuana Industry Insiders On Why The IRS Is Targeting Them — And How To Avoid Business Disruption
Wed, 14 Jun 2017 20:37:06 GMT

The Internal Revenue Service is reportedly trying to prove that marijuana businesses have been illegally trafficking in weed and aren't entitled to the tax deductions they have been claiming, several sources have reported.

In its latest effort, the IRS filed a series of summonses that granted it access to Colorado’s seed-to-sale cannabis tracking system, with the expectation of finding evidence of these businesses claiming deductions on profits derived from the sale of pot — which remains federally illegal and a DEA Schedule 1 drug.

Fighting Back

In response to these moves, several cannabis entrepreneurs have filed petitions in U.S. District Court to stop the IRS from obtaining state data related to these businesses' sales and production. Many of these impresarios argue that the nature of this investigation is not tax-related, but criminal instead; if this were the case, the IRS would be overstepping its scope of action, and going against the Cole Memo, which stipulates the federal government will not allocate assets to prosecuting state-legal, compliant cannabis businesses. Judges have ruled in favor of the IRS so far.

In an effort to better understand what’s been going on and what it means for the legal cannabis industry, Benzinga decided to reach out to a few companies in the space.

Related Link: The Risks ...

Full story available on Benzinga.com

Fed hikes interest rates despite declining inflation, sets plan for balance sheet reduction
Wed, 14 Jun 2017 19:59:00 GMT
The Federal Reserve announced a quarter-point rate hike Wednesday.
Op-Ed: Here’s the most important thing about the Fed's rate hike
Wed, 14 Jun 2017 19:46:00 GMT
The Fed rate hike won't have a huge impact on people's budgets. But here's the part that is a big deal, says Notre Dame Professor Nelson C. Mark.
Fed Hikes Rates Without Disrupting The Market: 'Classic Yellen'
Wed, 14 Jun 2017 19:08:13 GMT

Considering a strengthening labor market, solid job gains, rising household spending and expansion of business fixed investments, the Federal Open Market Committee of the Federal Reserve raised the target interest rate to between 1 and 1.25 percent Wednesday.

Additionally, it announced an impending "balance sheet normalization program," which would decrease the Reserve’s securities holdings by reducing reinvestment of principal payments.

“The Committee continues to expect that, with gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace, and labor market conditions will strengthen somewhat further,” the Committee report read.

The market was initially unmoved by the announcements, with SPDR ...

Full story available on Benzinga.com

Fed Hikes Rates Without Disrupting The Market: 'Classic Yellen'
Wed, 14 Jun 2017 19:08:13 GMT

Considering a strengthening labor market, solid job gains, rising household spending and expansion of business fixed investments, the Federal Open Market Committee of the Federal Reserve raised the target interest rate to between 1 and 1.25 percent Wednesday.

Additionally, it announced an impending "balance sheet normalization program," which would decrease the Reserve’s securities holdings by reducing reinvestment of principal payments.

“The Committee continues to expect that, with gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace, and labor market conditions will strengthen somewhat further,” the Committee report read.

The market was initially unmoved by the announcements, with SPDR ...

Full story available on Benzinga.com

Fed's Yellen says conditions in place for inflation to rise
Wed, 14 Jun 2017 18:55:00 GMT
Fed chair Yellen gave her reasons why inflation should come back and justify the Fed's rate hike earlier Wednesday.
U.S. Consumer Borrowing Slows
Wed, 14 Jun 2017 18:34:29 GMT

Consumer Credit and Growth

Hopes are high for strong economic growth in America's near future. President Trump's economic plan hinges on an economic growth rate near 4%, and markets so far are expecting him to be able to deliver at least partially on his promise.

A 4% growth rate will be difficult, if not impossible, to achieve without significant consumer spending and requisite consumer borrowing. Regardless of the tax rate, companies are not going to expand and grow without expecting a corresponding increase in consumer demand. So far, that demand does not seem to be sufficient to meet the President's goals.

Federal Reserve data for April revealed the smallest increase in consumer borrowing in nearly six years. Total consumer credit reached $3.82 trillion in April after seasonal adjustment, for an annualized growth rate of 2.6%. April's consumer credit rise of $8.2 billion represents a significant drop from March's $19.5 billion increase.

Combine this with the relatively stagnant growth in gross domestic product (estimated at 1.2% in Q1 of 2017) and a sharp drop in consumer spending (0.3% in Q1 2017, down from 3.5% in the previous quarter), and we get a potential recipe for growth that is far too slow to meet collective expectations.

Credit Growth Slows Across the Board

Rates of growth in consumer credit slowed across consumer credit categories (mortgages are excluded from the Fed data). The rise in revolving credit, which consists mostly of credit card debt, fell from 6.5% in March to 1.8% in April. Growth in non-revolving credit, covering installment loans such as student loans and auto ...

Full story available on Benzinga.com

Dollar To Be Dot Plot Driven
Wed, 14 Jun 2017 18:11:24 GMT

Wednesday June 14: Five things the market is talking about

Soft U.S inflation data is raising market uncertainty about the Fed's policy plans for the rest of the year. Will Fed Chair Janet Yellen clarify their outlook this afternoon£

The Fed is widely expected to agree on an interest-rate increase today (2:00pm EDT) at the conclusion of its two-day meeting. U.S policy makers will probably also acknowledge recent inflation declines, while sticking to previous guidance for another hike before year-end and a first step towards unwinding its +$4.5T balance sheet.

Note: Fed officials have said for months they were discussing how to reduce the balance sheet, and last month outlined a proposed approach that would let increasing amounts of securities mature over time.

Any ‘dot plot' downshift would definitely cast doubt on the Fed hiking three times in 2017.

Ahead of the U.S open, the ‘mighty' dollar has weakened for a third consecutive day, Treasury prices have edged a tad higher and global equity markets are mixed.

Note: Bank of Japan (BoJ), Swiss National Bank (SNB) and Bank of England (BoE) are also scheduled to weigh in with policy decisions this week.

1. Global equities mixed performance

In Japan, stocks ended marginally lower in choppy trade overnight, as investors abstained from taking positions ahead of the Fed's rate announcement. The Nikkei share average fell -0.1%, while the broader Topix Index also closed down -0.1%.

Down-under, Australia's S&P/ASX 200 Index climbed +1.1% to its highest print since mid-May.

In China, the Shanghai Composite Index tumbled -0.8% and the CSI 300 Index dropped -1.3%, its biggest loss this year.

In Hong Kong, the Hang Seng Index pared losses, up +0.1%, while in South Korea the Kospi Index fell -0.1%.

In Europe, indices trade modestly higher following on from yesterday's rebound stateside. The French CAC is the out performer, whilst the FTSE MIB (Italy) again lags.

U.S stocks are expected to open little changed.

Indices: Stoxx50 +0.6% at 3578, FTSE +0.3% at 7527, DAX +0.4% at 12820, CAC-40 +0.9% at ...

Full story available on Benzinga.com

Whole Foods CEO John Mackey calls activist investor Jana 'greedy bastards'
Wed, 14 Jun 2017 18:09:00 GMT
John Mackey's harsh criticism of Jana comes at a time when Whole Foods' same-store sales have fallen for seven consecutive quarters.
Conveyor System Market in Europe is Expected to Reach USD 12 Billion by 2020
Wed, 14 Jun 2017 18:00:00 GMT

Deerfield Beach, FL, June 14, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled "Conveyor Systems Market in Europe (Conveyor Components, Bulk Handling Systems, And Unit Handling Systems) for Automotive, Food & Beverages, Aviation, and Retail: Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020". According to the report, Europe conveyor systems market was valued at around USD 10 billion in 2014 and is expected to reach around USD 12 billion in 2020, growing at a CAGR of 2.8% between 2015 and 2020.

The conveyor system is a commonly used mechanical material handling equipment which helps to move materials from one workstation to another within a factory or premises. Conveyor systems are mainly used for the movement of heavy or bulky materials within a workstation. Use of conveyor systems facilitates the easy and quick transportation of a wide variety of materials. Use of conveyor systems is growing in popularity among the end user industries. Retail, food & beverages and aviation are among the major end users of conveyor systems. There is a vast variety of conveyor systems is available in the market to fulfill various needs of different industries.

Browse through 5 Market Tables and 19 Figures spread through 68 Pages and in-depth TOC on "Conveyor Systems Market in Europe - Industry Analysis, Size, Growth, Trends, Statistics, Segment and Forecast 2014-2020".

Request Free Sample copy of Europe Conveyor System Market Report @ http://www.marketresearchstore.com/report/conveyor-systems-market-in-europe-35584#RequestSample

Conveyor systems market in Europe is expected to exhibit moderate growth in the years to come. The growth of conveyor systems is mainly driven by the advantages offered by it against traditional bulk handling practice. Conveyor systems provide end users with reliable and safe transport of materials from one ...

Full story available on Benzinga.com

Why Raising The Federal Funds Rate Today Is A Bad Idea
Wed, 14 Jun 2017 17:37:16 GMT

Many forecasters expect a rate increase today, and indeed it may happen, but predicting the actions of a group of economists (the FOMC members) is not as easy as forecasting the actual economy. Thus, anything could come out of the Open Market Committee meeting today.

However, the economy does not seem to need a rate increase at this time. Indeed, a rate increase can create a potential damage to an already soft economy.

The Yield Curve Doesn't Need Flattening

One of the best instruments for understanding the rate policy in the U.S. is the U.S. Treasury yield curve. Between November of 2016 and March of this year, the yield curve steepened with the 10 and 30 year rates advancing sharply.

This steepening of the yield curve presented a danger for the economy and the Fed had to act to reduce the long-term rates by increasing the short-term rates. When the Fed increases the federal funds rate, it decreases long-term inflationary expectations, thereby putting pressure on the long-term rates to decrease.

However, in the last two months, the long-term yields came down substantially, and are now in line with ...

Full story available on Benzinga.com

Why Raising The Federal Funds Rate Today Is A Bad Idea
Wed, 14 Jun 2017 17:37:16 GMT

Many forecasters expect a rate increase today, and indeed it may happen, but predicting the actions of a group of economists (the FOMC members) is not as easy as forecasting the actual economy. Thus, anything could come out of the Open Market Committee meeting today.

However, the economy does not seem to need a rate increase at this time. Indeed, a rate increase can create a potential damage to an already soft economy.

The Yield Curve Doesn't Need Flattening

One of the best instruments for understanding the rate policy in the U.S. is the U.S. Treasury yield curve. Between November of 2016 and March of this year, the yield curve steepened with the 10 and 30 year rates advancing sharply.

This steepening of the yield curve presented a danger for the economy and the Fed had to act to reduce the long-term rates by increasing the short-term rates. When the Fed increases the federal funds rate, it decreases long-term inflationary expectations, thereby putting pressure on the long-term rates to decrease.

However, in the last two months, the long-term yields came down substantially, and are now in line with ...

Full story available on Benzinga.com

US warehouses are costly and hard to come by, as e-commerce demand picks up
Wed, 14 Jun 2017 15:49:00 GMT
National vacancy rates for shippers in the first quarter bottomed at a 17-year low, with average rental rates climbing.
Fed seen hiking rates but inflation, economic outlook dim: CNBC survey
Wed, 14 Jun 2017 15:23:00 GMT
The Fed is expected to raise rates Wednesday, and most respondents in CNBC's Fed survey see another hike this year.
Twitter promoting '#happydeathday' sparks outrage amid London fire, Virginia shooting
Wed, 14 Jun 2017 15:00:00 GMT
The sponsored hashtag appeared "trending" across all user's homepages as a deadly fire was being fought in London.
Fed will have to respond to weak inflation data as expectations fade for further hikes
Wed, 14 Jun 2017 14:40:00 GMT
The Fed is on track to raise rates, but surprisingly weak inflation for a third month puts another hike in doubt.
US businesses trim their stockpiles in April
Wed, 14 Jun 2017 14:03:00 GMT
Economists were expecting business inventories to fall 0.2 percent for the month of April.
Trump adds more trademarks in China
Wed, 14 Jun 2017 13:52:00 GMT
The Trump Organization has said it will not do any further international deals, N.Y. Times reports.
Millionaires own a record 45% of the world's wealth — and their share is growing
Wed, 14 Jun 2017 13:48:00 GMT
There are 17.9 million households in the world, up 8 percent from 16.6 million last year, Boston Consulting Group said.
Federal Reserve Announcement In Focus On Wall Street
Wed, 14 Jun 2017 13:03:26 GMT
The major U.S. index futures are pointing to a higher opening on Wednesday, with stocks poised to extend the upward move seen in the previous session.
Global Chelating Agents Market Size Expected to Reach USD 6.31 Billion by 2021: Zion Market Research
Wed, 14 Jun 2017 13:00:00 GMT

Sarasota, FL, June 14, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled "Chelating Agents Market by Product (Sodium Gluconate, APCA, Organophosphonate and Others) for Pulp & Paper, Household & Industrial Cleaning, Agrochemicals, Water Treatment, Chemical Processing, Consumer Products and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 - 2021". According to the report, the Global chelating agents market accounted for USD 4.80 billion in 2015 and is expected to reach USD 6.31 billion by 2021, growing at a CAGR of around 4.11% between 2016 and 2021. 

Chelating agents are an organic compound which is capable of forming coordinate bonds with metals through two or more atoms of the organic compound. Chelates compounds are more stable than nonchelate of comparable composition. Chelating agents achieve this by coordinating with metal ions at a minimum of two sites.

Browse through 23 Market Tables and 25 Figures spread through 110 Pages and in-depth TOC on "Global Chelating Agents Market: By Type, Product, Applications, End-Use and Forecast, 2015 – 2021".

Request Free Sample copy of Global Chelating Agents Market Report @ https://www.zionmarketresearch.com/sample/chelating-agents-market

Global chelating agent market is primarily driven by increasing growth of pulp & paper industry across the globe due to increasing demand for graphic and tissue papers. The growth of cleaning & detergent industry coupled with high demand for water treatment chemicals is expected to uphold the growth of chelating agents market in the forecast period. The increasing availability of biodegradable amino polycarboxylate products is expected to be high ...

Full story available on Benzinga.com

Emerging markets set to brush off Fed tightening concerns
Wed, 14 Jun 2017 12:44:00 GMT
US retail sales post biggest drop in 16 months
Wed, 14 Jun 2017 12:36:00 GMT
U.S. retail sales recorded their biggest drop in more than a year in May amid declining purchases of motor vehicles and discretionary spending
Weak US consumer prices, sales puts the spotlight on future rate cuts
Wed, 14 Jun 2017 12:35:00 GMT
The U.S. Consumer Price Index was forecast to rise 0.2 percent in May, after inching up 0.1 percent a month earlier.
Gary Cohn will reportedly lead search for next Fed chief
Wed, 14 Jun 2017 12:23:00 GMT
Some strategists believe Cohn could be his own candidate for the Fed chief position, The Wall Street Journal reported.
Gary Cohn will reportedly lead search for next Fed chief
Wed, 14 Jun 2017 12:23:00 GMT
Some strategists believe Cohn could be his own candidate for the Fed chief position, The Wall Street Journal reported.
Economic Data Scheduled For Wednesday
Wed, 14 Jun 2017 08:43:43 GMT
  • The MBA’s index of mortgage application activity for the latest week is schedule for release at 7:00 a.m. ET.
  • The Consumer Price Index for May will be released at 8:30 a.m. ET.
  • Data on retail ...

Full story available on Benzinga.com

Why Brexit is an opportunity for French President Macron
Wed, 14 Jun 2017 07:46:00 GMT
CNBC's Claire Fournier speaks about the recent meeting between U.K. Prime Minister Theresa May and French President Emmanuel Macron, as well as the latter's stance on Brexit.
Number of fatalities in Grenfell Tower fire: London Fire Commissioner
Wed, 14 Jun 2017 07:26:00 GMT
London Fire Commissioner Dany Cotton gives a press statement on last night's fire in Grenfell Tower in west London.
Property investors see opportunity in weak sterling: Christie's
Wed, 14 Jun 2017 07:20:00 GMT
Christie's International Real Estate CEO Dan Conn and CNBC's Gemma Acton discuss the U.K. property market amid political uncertainty.
UK has no Brexit negotiating strategy: Union of European Federalists
Wed, 14 Jun 2017 07:13:00 GMT
Elmar Brok, president of the Union of European Federalists, says that the European Union is ready for Brexit negotiations and that it would be "totally wrong" to postpone them.
How a view on China impacts positioning on European stocks
Wed, 14 Jun 2017 07:02:00 GMT
Bob Janjuah, senior independent client adviser at Nomura, and Julien Lafargue, vice president for European equity strategies at JP Morgan Private Bank, speak about the Chinese and European economies.
European markets open higher ahead of US Federal Reserve meeting
Wed, 14 Jun 2017 06:37:00 GMT
European markets open higher as investors cautiously await the latest monetary decision by the U.S. Federal Reserve.
Preference for euro zone equities: JP Morgan Private Bank
Wed, 14 Jun 2017 06:37:00 GMT
Julien Lafargue, vice president for European equity strategies at JP Morgan Private Bank, and Bob Janjuah, senior independent client adviser at Nomura, discuss investment strategies.
Fed now has no reason for negative real yields: Pro
Wed, 14 Jun 2017 06:25:00 GMT
Kenneth Taubes, head of U.S. investments at Pioneer Investments, discusses future monetary policy moves by the U.S. Federal Reserve.
Trump's ability to get policy done collapsing towards zero: Nomura
Wed, 14 Jun 2017 06:21:00 GMT
Bob Janjuah, senior independent client adviser at Nomura, speaks about U.S. President Donald Trump's capacity to effect change.
European effort to co-ordinate response to UK election result: Eurasia
Wed, 14 Jun 2017 06:21:00 GMT
Charles Lichfield, Europe associate at Eurasia Group, discusses the outcome of last week's U.K. General Election and its impact on Brexit.
Fed is expected to hike interest rates Wednesday, but inflation is the wild card for markets
Tue, 13 Jun 2017 22:49:00 GMT
The Fed is expected to raise interest rates Wednesday, and what it says about inflation will be important.
Alex Rodriguez swings for the fences in the business world
Tue, 13 Jun 2017 22:13:00 GMT
Former all-star player Alex Rodriguez has turned his focus to the business world now, discussing his work with ARod Corporation.
Trump tells senators that health bill should be ‘more generous’ than ‘mean’ House version
Tue, 13 Jun 2017 21:06:00 GMT
President Trump has told Republican senators that the House health care bill is "mean" and that the Senate bill should be "more generous."
Higher ticket fares coming your way due to major US airport expansions
Tue, 13 Jun 2017 20:32:00 GMT
Expansions underway at top US airports will result in increased costs to carriers and ultimately bring higher fares.
Caesars Entertainment Executive and Former Las Vegas Mayor Jan Jones Blackhurst Joins LVGEA Board of Directors
Tue, 13 Jun 2017 19:21:10 GMT

Las Vegas, Nev., June 13, 2017 (GLOBE NEWSWIRE) -- The Las Vegas Global Economic Alliance (LVGEA) recently announced that former Las Vegas mayor and current Caesars Entertainment Executive Jan Jones Blackhurst was unanimously voted into its Board of Directors—the largest C-level business board in the state, consisting of the region's top public, private, business and community leaders charged with expanding and diversifying the regional economy of Southern Nevada.

0_int_jjb.jpg
Caesars Entertainment Corporation Executive Vice President of
Public Policy and Corporate Responsibility Jan Jones Blackhurst



2_int_LVGEAlogo.png



"The LVGEA is the region's leading organization focused on raising the standards for businesses and our residents, which is why I'm honored to join their board of directors," said Jan Jones-Blackhurst, Executive Vice President of Public Policy and Corporate Responsibility. "Communities grow when there are good jobs, and I look forward to working with the LVGEA to support their vision and the continued growth of our economy."

"We are absolutely thrilled to have Jan Jones Blackhurst join our Board of Directors," said ...

Full story available on Benzinga.com

Trump's Treasury Department's First Crack At Banking Reform Looks Pretty Positive, If You're A Bank
Tue, 13 Jun 2017 18:49:26 GMT

The U.S. Treasury has issued its first of four reports on the state of financial regulations in the U.S. Tuesday, and the report sheds some light on just how favorably the Trump administration intends to treat the banking sector.

The Treasury made a number of recommendations of ways to modify current regulations that could provide a major tailwind for bank earnings.

Treasury Recommendations

While the Treasury didn’t recommend major changes to the current capital and liquidity requirements for big banks, it did recommend raising the asset threshold of banks qualifying for the annual Dodd-Frank Act Stress Test from $10 billion to $50 billion. This change would allow banks with less than $50 billion in assets to avoid the test all together.

Related Link: There's A New ...

Full story available on Benzinga.com

JPMorgan Chase's $150 Million Detroit Investment: Repair, Revitalize, Reinvest
Tue, 13 Jun 2017 18:34:36 GMT

As Detroit goes, so goes JPMorgan Chase & Co. (NYSE: JPM).

The bank’s $150 million commitment to post-bankruptcy Detroit — dedicated to community and small business development, workforce readiness and neighborhood revitalization — is a sound investment, said Tosha Tabron, Chase’s vice president of global philanthropy.

The goal is to “accelerate and attract additional investment into the city to help it grow” with the bank’s dollars, Tabron told Benzinga.

“And as it grew, we knew we would do better as a company as well.”

‘We’ve Never Had A Short-Term View’

Chase’s commitment to the city, which it increased by $50 million in May, is visible on both sides of Kercheval Avenue, about 4 miles east of downtown.

That’s where developer Reimer Priester and his business partners have renovated the Garland building with $1.3 million in financing from Capital Impact Partners, a community development financial institution that’s lending $30 million from Chase with an eye toward catalyzing neighborhood development.

db_reimer_priester_2.jpg

Developer Reimer Priester sits on the steps of a historic duplex in Detroit's West Village where a local business, Busted Bra Shop, plans to open a second location. Photo by Dustin Blitchok.

At the 6,900-square-foot Garland building, which has commercial space on its ground floor and apartments upstairs, the restaurant and butcher shop Marrow is scheduled to open by the end of the year.

The previously vacant building would not have been completed without Capital Impact Partners, Priester said. The nonprofit is mandated by the government to lend in underserved areas.

“It goes without saying that without [Chase and Capital Impact Partners], finding $1 million of private financing would have been impossible short of private equity,” Priester said.

The developer is working on three turn-of-the-20th-century duplexes a block to the east of the Garland, where a bar, pizza restaurant and bike shop are set to open by summer’s end.

Down the street, another duplex with gray, peeling paint that dates to 1912 is being renovated by Priester and his partners. Local retailer Busted Bra Shop is opening its second location in the building this year, he said.

In the still-blighted ...

Full story available on Benzinga.com

Fed rate hike this week to hit millions of borrowers
Tue, 13 Jun 2017 16:45:00 GMT
The Fed's anticipated move to hike its benchmark interest rate target up a quarter point will have ramifications.
Not Much Sense Of Mystery: Fed Meeting Begins With Rate Hike Widely Expected
Tue, 13 Jun 2017 16:41:56 GMT

As info tech stocks lick their wounds after their biggest two-day drop since last autumn, attention shifts to the Fed today. There’s not much sense of mystery there, however, with chances of a rate hike standing near 99%, according to Fed funds futures.

U.S. stocks rebounded a bit in pre-market futures trading, and most European and Asian stocks rose earlier Tuesday. The story today is waiting for the Fed, but don’t forget that two other central banks, the Bank of England and the Bank of Japan, also hold meetings this week. Analysts expect both to keep their low interest rate policies intact, but it’s always worth listening to what central bank leaders say about their countries’ economies, particularly in the United Kingdom after the recent election turmoil. Watch for possible impact on currency trading.

Info tech seemed to be on its own waterslide Friday and Monday while the rest of the market hardly showed signs of getting wet. Look at Monday’s action, for instance. Info tech stocks fell 0.8%, but the only other sector to fall even 0.5% was materials. Other so-called cyclical sectors like industrials and financials rose moderately.

Additionally, there’s little indication that Friday and Monday’s tech washout caused anyone to run for the hills, at least not judging from market safe havens like bonds and gold. Both fell Monday, and volatility pulled back from big early gains (see below). If gold falls again today, it would be the fifth-consecutive day of losses, and that seems significant. On the other hand, some of the defensive stock sectors like telecom and real estate did move higher Monday. Volatility, as measured by VIX, continued to retreat early Tuesday but remained above 11.

Remember some points about info tech. While it’s true that the five big names, including Amazon.com, Inc (NASDAQ: AMZN), Facebook Inc (NASDAQ:

Full story available on Benzinga.com

US producer prices unchanged as energy costs drop
Tue, 13 Jun 2017 13:31:00 GMT
Inflation at the wholesale level stayed unchanged in May as food and energy prices slipped.
Sears to cut 400 jobs; head of online to step down this week
Tue, 13 Jun 2017 13:25:00 GMT
This is part of the department store chain's ongoing restructuring efforts, Sears said.
Bargain Hunting May Lead To Initial Strength On Wall Street
Tue, 13 Jun 2017 13:01:15 GMT
The major U.S. index futures are pointing to a higher opening on Tuesday, following the weakness seen in the previous session.
Tech sector may be under pressure, but there remains a ‘ton of opportunity’, says Hootsuite CEO
Tue, 13 Jun 2017 12:41:00 GMT
FAANG stocks are under pressure. However, the CEO of Hootsuite says there is still opportunities in the tech sector.
Russia's cyber attack on 39 states could jeopardize future US elections
Tue, 13 Jun 2017 12:23:00 GMT
Russia's cyberattack on the U.S. electoral system was much more widespread than people realize, Bloomberg reports.
CEOs say they’re confident, but merger numbers don’t lie
Tue, 13 Jun 2017 10:43:00 GMT
Corporate CEOs make deals when optimistic about their business and economic trends in the economy. When nervous about the future, they usually pull back.
British inflation jumps again in May, tightening squeeze on consumers
Tue, 13 Jun 2017 10:02:00 GMT
UK inflation jumped to its highest level in nearly four years in May, tightening the squeeze on consumers.
Tech Stocks Under Pressure As New Week Highlighted By Fed Meeting Begins
Mon, 12 Jun 2017 14:15:41 GMT

This was supposed to be a week focused on the Fed and a host of new data. Then tech stocks took a dive late Friday, upsetting the proverbial apple cart and raising questions about a sector that’s been the backbone of this year’s rally.

Info tech shares fell more than 2.7% Friday, mostly in the last couple of hours, and pressure continued in futures trading early Monday. Key stocks like Apple Inc. (NASDAQ: AAPL), Amazon.com, Inc. (NASDAQ: AMZN) and Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) all came under fire as the Nasdaq (COMP) had its worst day in a while. Some of the selling appears related to analyst reports suggesting the sector might be overvalued. We have seen tech pull way ahead this year, leading all sectors with huge gains, but whether it’s overvalued is another question.

A couple things to consider: First, this isn’t the first tech pullback recently. Back in mid-May, the sector had an even worse day and bounced back. Another recovery isn’t out of the question, especially if some market participants see value at lower prices.

Second, the sector has rallied this year on fundamentals. Tech earnings came in strong in Q1. So it’s fair to say that recent strength is based on real growth, not on hopes and dreams the way it was during the “tech bubble” of 1998-99. Back then, Nasdaq often corrected a few percent before raging back to make new highs, and the temptation might be to think back to those days whenever tech stumbles.

However, the situations aren’t necessarily the same. For one thing, many major tech stocks aren’t trading at stratospheric multiples, the way they were back then. Also, business models tend to be better, and the companies leading the charge are much larger and more ingrained into the economy now than they were 17 or 18 years ago when Y2K was all the rage and Internet companies devoted to selling pet supplies or toys commanded billions in market cap.

If not for info tech’s breakdown, the week’s big ...

Full story available on Benzinga.com

Trump hasn’t appointed anyone to any key infrastructure jobs
Mon, 12 Jun 2017 13:38:00 GMT
The country can persist with these transportation vacancies, but it delays an agency's effectiveness, Vox reports.
Futures Pointing To Lower Open On Wall Street
Mon, 12 Jun 2017 13:12:43 GMT
The major U.S. index futures are pointing to a lower opening on Monday following the mixed performance seen last week.
An ETF Idea For The Fed Meeting
Mon, 12 Jun 2017 12:27:13 GMT

Next week is a Federal Reserve week with plenty of market participants expecting the Federal Open Market Committee to boost U.S. interest rates. Gold and the related exchange traded products, including the SPDR Gold Shares (NYSE: GLD), often come into focus during Fed weeks.

What Fed Means For Gold

That scenario is predictable as gold is believed to be sensitive to changes in rates because the yellow metal does not offer interest or dividends, supposedly diminishing its allure when rates rise. Additionally, a strong dollar is seen as a hindrance to gold because commodities are denominated in dollars. GLD's roughly 11 percent year-to-date gain is due in part to the dollar being one of this year's most ...

Full story available on Benzinga.com

Wholesale inventories slide 0.5% in April, falling short of estimates
Fri, 09 Jun 2017 14:02:00 GMT
The Commerce Department reported April's wholesale inventories on Friday.
Looming Fed Meeting May Lead To Choppy Trading On Wall Street
Fri, 09 Jun 2017 12:44:46 GMT
The major U.S. index futures are pointing to a higher on Friday as traders digest the results of the election in the U.K. The upward momentum on Wall Street comes even though no party gained a clear majority in the U.K. election, resulting in a hung parliament.
Why the majority of small-business owners love Trump's tax plan
Fri, 09 Jun 2017 10:31:00 GMT
Taxes are the No. 1 issue for small business, the first CNBC/SurveyMonkey Small Business Survey revealed.
Small business owners are cutting back on one of their biggest economic contributions
Fri, 09 Jun 2017 10:30:00 GMT
Business owners are optimistic about revenue increases, but a majority have no plans to add jobs in the next year. Why£
Business owners are highly confident: New CNBC/SurveyMonkey small-business confidence index
Fri, 09 Jun 2017 10:30:00 GMT
The CNBC/SurveyMonkey Small Business Survey reveals small-business owners are "undeniably confident" about their future.
Fun Thursday Ahead, As Comey Testimony, UK Election, ECB Dominate Picture
Thu, 08 Jun 2017 14:11:17 GMT

It’s finally “freaky Thursday” and investors find themselves bracing for potential impact from three major events they’ve been waiting for all week. Markets could be choppy as participants process this glut of information.

Topping the list for many is former FBI Director James Comey’s testimony to Congress, which starts at 10 a.m. ET. A lot of the suspense surrounding this disappeared yesterday when Comey’s testimony became public, but he’ll be answering questions from the Senate Intelligence Committee, setting up the possibility of new insight. Volume might drop during the testimony as participants head to their televisions, but it’s likely to be business as usual on Wall Street once the hearing ends.

As we noted yesterday, it’s hard to believe Comey has anything shocking to say that might move the markets, and the written testimony itself didn’t provide much information that hadn’t already leaked out to the press over the last month or two. Some analysts believe the slight rise in stocks yesterday reflected relief that the testimony didn’t contain any new earth-shattering revelations. Nevertheless, there’s muscle memory of last month’s market slide that occurred after headlines about Comey, so the market could be on pins and needles until the hearing ends.

Overseas, the European Central Bank (ECB) kept rates steady, marking the second part of the troika of events hitting the market today. The rate decision was pretty much what analysts had expected, but ECB President Mario Draghi’s comments might be more important to assess. In its statement, the ECB said it expected interest rates to "remain at present levels for an extended period of time," but added that it would be ready to extend its quantitative easing program if needed, CNBC reported. The euro fell slightly vs. the dollar.

The third major news item of the day is the British election, where conservative ...

Full story available on Benzinga.com

Paul Ryan says ‘death tax’ hurts Wisconsin small businesses. IRS data shows otherwise.
Thu, 08 Jun 2017 13:31:00 GMT
Paul Ryan and Trump may be exaggerating estate tax's harm to small businesses and family farms, ProPublica reports.
Debt limit showdown looms sooner as wealthy bet on Trump tax cut
Thu, 08 Jun 2017 13:15:00 GMT
Congress may be approaching debt limit within weeks, with wealthy Americans hoping for lower tax rates promised by President Trump.
Comey, ECB, U.K. Elections Remain In Focus On Wall Street
Thu, 08 Jun 2017 12:55:50 GMT
The major U.S. index futures are pointing to a roughly flat opening on Thursday, as traders focus on several key events scheduled on the day. Traders are digesting the European Central Bank's latest monetary policy announcement and comments by ECB President Mario Draghi.
Jobless claims fall; labor market slack shrinking
Thu, 08 Jun 2017 12:30:00 GMT
The number of Americans filing for benefits fell last week, unwinding half of the prior period's jump and suggesting the labor market was tightening.
Focus On Tomorrow's Events May Lead To Choppy Trading
Wed, 07 Jun 2017 12:54:02 GMT
The major U.S. index futures are pointing to a roughly flat opening on Wednesday following the pullback seen over the two previous sessions. Trading activity is likely to be subdued ahead of several potentially market-moving events on both sides of the Atlantic on Thursday.
Rising Middle East Tensions May Weigh On Wall Street
Tue, 06 Jun 2017 12:55:26 GMT
The major U.S. index futures are pointing to a lower opening on Tuesday, with stocks poised to add to the modest losses posted in the previous session. Concerns about rising tensions in the Middle East may weigh on the markets after Saudi Arabia, the United Arab Emirates and Bahrain severed diplomatic relations with Qatar.
Investor Movement Index (IMX) For May 2017: Tech Buying Continues
Mon, 05 Jun 2017 17:26:18 GMT

The old market adage “sell in May and go away” didn’t seem to be holding true with TD Ameritrade clients last month as retail traders increased their equity exposure and the Investor Movement Index® (IMXSM) climbed to 6.13, up 1.16% from last month’s reading, and remains close to the record high of 6.22 the index hit in March.

Major indexes continued their upwards climb during the May IMX period with tech stocks leading the way; the Nasdaq Composite (COMP) increased 2.3% compared to a 1.3% rise in the S&P 500 (SPX). For the first time since October 2016, the SPX posted a rare one-day decline of more than 1% on May 17th as concerns grew over federal policies, including tax reforms and increased infrastructure spending, would get passed in Congress. Despite the mid-month concerns, the S&P 500 and the Nasdaq remained resilient and bounced back to hit new highs on strong earnings—roughly 75% of the companies in the S&P 500 beat earnings estimates and overall it was the highest year-over-year earnings increase since 2011.

screen_shot_2017-06-05_at_1.10.58_pm.png
FIGURE 1: MID-MAY BOUNCE. The S&P 500 (SPX), plotted on the thinkorswim® platform from TD Ameritrade, posted its biggest decline in 7 months on May 17, but bounced back in the second half of May to post new highs. Plotted in the lower chart is the S&P 500’s implied volatility, a statistical measure that reflects the likely range ...

Full story available on Benzinga.com

Chance Of June Rate Hike Remains High Despite Lackluster Jobs Data
Mon, 05 Jun 2017 14:33:44 GMT

For the second-straight May, jobs growth disappointed. But this time, it’s not seen as likely to change minds about rate hikes over at Fed headquarters on Constitution Avenue in Washington, D.C.

Even after May jobs rose by just 138,000, compared with pre-report estimates for 185,000, Fed funds futures still showed a nearly 90% chance of a rate hike at the June 13-14 Fed meeting. What’s less clear is what happens with rates later in the year. Odds of a rate hike by the September meeting are less than 25%, but about 45% by year-end, futures prices indicate. 

It’s a contrast from 2016, when a weak May jobs report led in part to the Fed’s decision to put off a rate hike. The Fed has pointed toward a total of three hikes this year, but also wants to start unwinding its $4.5 trillion balance sheet. Now some analysts think the Fed might begin addressing its balance sheet this fall, perhaps instead of an autumn rate hike. We’ll see.

While the Fed might be a big focus this coming week as its meeting approaches, there’s a lot to ponder besides that, including more thoughts about the May jobs report and what it might say about the economy. First of all, one month isn’t a trend, though it’s fair to note that the Fed did lower job gains for March and April as well. Generally, job growth has been pretty steady, and it’s showing up in sectors that point toward economic strength, like construction, health care, and business-to-business services.

In addition, the U6 number, a broader perspective on unemployment, sank to 10-year lows at 8.4%. That could indicate more optimism about the job market as long-term unemployed people start finding positions.

The other factor to consider is wage growth, ...

Full story available on Benzinga.com

Interesting Activity In A Regional Bank ETF
Mon, 05 Jun 2017 13:38:35 GMT

Financial services stocks and exchange-traded funds have been struggling this year, and a big part of the reason why comes by way of a surprisingly dovish Federal Reserve. While the Fed boosted interest rates in March, the SPDR S&P Regional Banking ETF (NYSE: KRE), the largest regional bank ETF by assets, is lower by 5.8 percent year to date.

Recent Struggles For KRE

Things have not been much better for KRE in recent weeks. Over the past month, the ETF is off more than 4 percent, perhaps a sign that investors are growing tired of waiting interest rate-affected bounces for regional bank names.

Recent options market data indicate some traders are considering the September $53 calls in ...

Full story available on Benzinga.com

Profit Taking May Lead To Weakness On Wall Street
Mon, 05 Jun 2017 12:52:39 GMT
The major U.S. index futures are pointing to a modestly lower opening on Monday following the upward move seen last week. Profit taking may contribute to early weakness on Wall Street, as some traders look to cash in on the recent strength in the markets.
Weaker Than Expected Jobs Data In Focus On Wall Street
Fri, 02 Jun 2017 13:06:43 GMT
The major U.S. index futures are pointing to a higher opening on Friday following the release of the Labor Department's closely watched monthly jobs report. The upward momentum comes even though the report showed much weaker than expected job growth.
Risk Watch: Eyes On VIX, Gold Bonds As Jobs Data Looms
Thu, 01 Jun 2017 14:20:19 GMT

Ahead of key jobs data tomorrow, investors might want to watch the so-called “three horsemen of risk” later Thursday to see what expectations the market is building in.

Those “horsemen” are VIX, gold, and bonds. The jobs data are the last significant economic signal ahead of the Fed’s meeting June 13-14, and any sign of defensive trading today could indicate whether the market senses economic weakness that could potentially take the sails out of what now is around an 85% chance of a Fed rate hike. So watch those three to see if they start climbing toward the close, indicating worries of possible data weakness.

While some estimates put jobs growth for May as low as 170,000, others are more optimistic. For instance, research firm CFRA said Wednesday that jobs growth could reach 195,000, which wouldn’t be much lower than April’s big gains. The ADP data early Thursday showed private payrolls up 253,000, but ADP doesn’t always correlate with government data.

The Fed’s Beige Book observed labor shortages in some areas, so keep an eye on the hourly earnings component of tomorrow’s jobs data to see whether labor tightness translated into wage growth. If that happened, it could counteract some of the soft inflation talk (see below) that we’ve been hearing lately. Hourly earnings rose 0.3% in April, and the consensus for May is also 0.3%, according to a consensus of analysts compiled by Briefing.com.

Though it ended with a whimper, May was another good month for the stock market. Every major index gained, and the S&P 500 (SPX) posted its best month since February. The Nasdaq has risen for seven-consecutive months. Stock futures pointed to a possible higher open Thursday.

Financial stocks didn’t join in the May festivities, and are now just clinging to gains for the year after another washout on Wednesday. A ...

Full story available on Benzinga.com

Futures Pointing To Initial Strength On Wall Street
Thu, 01 Jun 2017 12:53:01 GMT
The major U.S. index futures are pointing to a modestly higher opening on Thursday following the modest weakness seen in the previous session.
Profit Taking May Lead To Initial Weakness On Wall Street
Tue, 30 May 2017 12:56:03 GMT
The major U.S. index futures are pointing to a lower opening on Tuesday following the long holiday weekend. Traders may look to cash in on recent gains, which lifted both the Nasdaq and the S&P 500 to record closing highs last week.
Profit Taking May Lead To Initial Weakness On Wall Street
Fri, 26 May 2017 12:59:06 GMT
The major U.S. index futures are pointing to a modestly lower opening on Friday after stocks closed lower for six consecutive sessions. Profit taking may contribute to early weakness on Wall Street after the recent winning streak lifted the Nasdaq and the S&P 500 to new record closing highs.
Upbeat Earnings News May Help Stocks Extend Winning Streak
Thu, 25 May 2017 12:48:52 GMT
The major U.S. index futures are pointing to a higher opening on Thursday, with stocks looking to extend the upward trend seen over the past several sessions.
European Stocks Braced For Mixed Opening
Thu, 25 May 2017 06:37:47 GMT
European markets may follow their U.S. and Asian peers, but with a mixed opening on Thursday. Positive impact of the minutes of the Federal Reserve's latest meeting was reflected on Wall Street. Further, the investors are looking ahead to an OPEC meeting later in the day, which is widely expected to extend output cuts, possibly by as long as 12 months, to help clear global stocks overhang.
Fed Minutes Likely To Be In Focus On Wall Street
Wed, 24 May 2017 12:50:03 GMT
The major U.S. index futures are pointing to a modestly higher opening on Wednesday after stocks closed higher for four consecutive sessions. The markets may continue to benefit from the upward momentum seen in the days following the sell-off last Wednesday, which many traders felt was overdone.
Futures Pointing To Continued Strength On Wall Street
Tue, 23 May 2017 12:54:14 GMT
The major U.S. index futures are pointing to a higher opening on Tuesday, with stocks likely to see further upside after closing in positive territory for three straight sessions.
Stocks May Extend Recovery From Last Wednesday's Sell-Off
Mon, 22 May 2017 12:57:48 GMT
The major U.S. index futures are pointing to a higher opening on Monday, with stocks poised to extend the recovery from the sell-off that was seen last Wednesday. The markets may continue to benefit from the upward momentum seen over the two previous sessions, which helped the major averages climb off their worst levels in nearly a month.
Markets May Continue To Benefit From Bargain Hunting
Fri, 19 May 2017 12:49:36 GMT
The major U.S. index futures are pointing to a higher opening on Friday following the rebound seen in the previous session. The markets may continue to benefit from bargain hunting, as stocks remain at relatively low levels following the sell-off seen on Wednesday.
Concerns About Trump Agenda May Generate Continued Selling Pressure
Thu, 18 May 2017 13:02:26 GMT
The major U.S. index futures are pointing to a lower opening on Thursday, with stocks poised to see further downside on the heels of the sell-off seen in the previous session. Concerns about President Donald Trump's ability to implement his pro-business policy agenda may generate continued selling pressure following a recent string of damaging news.
Ongoing Political Turmoil May Weigh On Wall Street
Wed, 17 May 2017 12:46:38 GMT
The major U.S. index futures are pointing to a lower opening on Wednesday following the mixed performance seen in the previous session. Ongoing political turmoil in Washington may weigh on the markets amid waning optimism about President Donald Trump's ability to implement tax reform and deregulation.
Feed Fetched by RSS Dog.