President Donald Trump is bringing a pea shooter to a gunfight. If you look carefully at the charts on this page from yesterday’s trading bloodbath, it’s clear that there is a deep financial crisis playing out. The idea that this can be remedied with a payroll tax cut is the stuff of tooth fairies. And […]
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Saudi Aramco to Increase Oil Output 12.3M Barrels Per Day Starting April…
Saudi Aramco said Tuesday that the company would increase its crude output to 12.3 million barrels per day in April. The new production level will be ”an increase of 300,000 barrels per day over the company’s maximum sustained capacity of 12 MMBD,” Aramco said in a statement to the Saudi stock exchange. The Company has […]
Can Saudi Arabia Survive the Oil Price War It Started?…
As the world watches an oil price war unfold between Russia, OPEC, and US shale, another major crisis is looming in the Middle East. Saudi Arabia is facing multiple existential threats as a renewed oil price slump threatens to not only hit the country’s revenues and economic diversification programs but also the already fragile position […]
DOW PLUNGES OVER 2,000 POINTS…
U.S. equity markets tumbled Monday after an oil price war broke out between Saudi Arabia and Russia and amid new cases of coronavirus, especially in America. The Dow Jones Industrial Average closed over 2,000 points lower, coming back from a point drop of more than 2,150 points, or 8.2 percent, at session lows while the […]
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Stunning Job Gains in February +273,000, with Revised Gains of +85,000 Dec/Jan…
Jumpin’ ju-ju bones. The Bureau of Labor Statistics highlights an excellent jobs report for February with 273,000 new jobs added; and an upward revision of 85,000 job gains in December and January. Total new jobs with revisions 358,000; that’s exceptional. Main Street USA is very strong, exceptionally strong; and the fundamentals of the U.S. economy […]
Demand for Fed’s Repo Loans Surges Past $100 Billion a Day as 10-Year Treasury Hits Lowest Rate in 149 Years…
Federal Reserve Chairman Jerome Powell certainly has an odd notion of what constitutes an “orderly” market. At his press conference on Tuesday, following the announcement that the Fed was cutting its Fed Funds rate by a half point without waiting for its regularly scheduled meeting when rate cuts are normally deliberated, Powell said that “financial […]
Dow Falls 250 Points, Oil Sinks to 3-Year Low…
U.S. equity markets fell Friday despite the strong February jobs report, which was overshadowed by continued fears surrounding the coronavirus. The Dow Jones Industrial Average closed down more than 254 points, well off its worst levels of the session. The index had fallen by as many as 895 points. Meanwhile, the S&P 500 and Nasdaq […]
Two Charts Explain Why Wall Street Banks Are Under So Much Selling Pressure…
Yesterday, the Dow Jones Industrial Average of 30 large cap companies closed with a loss of 969.5 points or 3.58 percent. That was bad enough but the losses among the biggest Wall Street banks outpaced the Dow losses by a significant margin. Typically, JPMorgan Chase is one of the better performers among the Wall Street […]
Flights Into U.S. to Drop to 12-Year Low Because of Coronavirus Outbreak…
International inbound travel to the United States is projected to drop 6% over the next three months because the coronavirus outbreak continues to roil the global economy, according to research conducted by the U.S. Travel Association, a nonprofit organization that represents the travel industry. The decline would be the largest since the 2008 financial crisis. […]
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Two Chinese Nationals Indicted in Cryptocurrency Laundering Scheme Linked to North Korea…
The United States on Monday charged two Chinese nationals with laundering more than $100 million in stolen cryptocurrency from a 2018 cyberattack linked to North Korea’s illicit nuclear missile and weapons development program. The new indictment, accompanied by sanctions and a civil forfeiture complaint seizing 113 cryptocurrency accounts filed in federal court in Washington, marks […]
Fed Rate Cut to Boost Homebuyers’ Spending Power…
The Federal Reserve cut interest rates on Tuesday in response to the spreading coronavirus, and that could bring benefits to one sector of the U.S. economy just in time for spring: real estate. Mortgage rates were already low – and the addition of a rate cut could provide an even more attractive opportunity for prospective […]
Federal Reserve Chair Jerome Powell Statement and Press Conference Following 50 Point Fed Drop…
Earlier this morning the Federal Reserve (Fed) announced a .50 drop in their lending rate in response to the potential for economic impacts from the coronavirus. Following the rate cut Federal Reserve Chair Jerome Powell delivered a statement and held a press conference…
There Are Trillions at Stake…
President Trump is disrupting decades of multinational financial interests who use the U.S. as a host for their ideological endeavors. President Trump is confronting multinational corporations and the global constructs of economic systems that were put in place to the detriment of the host (USA) ie. YOU. There are trillions at stake; it is all […]
Dow, S&P and Nasdaq Score Biggest Gains Ever as Stocks Make Comeback…
U.S. equity markets surged Monday as Wall Street rebounded from its worst week since the financial crisis and has President Trump and U.S. health officials made more progress in developing a plan to combat the coronavirus. The Dow Jones Industrial Average rose over 1,294 points or 5 percent in what is the biggest point gain […]
Dow Jones Fell More Than 3,500 Points in Its Worst Week Since 2008…Fed Under Pressure to Cut Rates Immediately…
Increasing fears over the spreading coronavirus have investors on edge, and while the White House maintains that the United States is prepared to handle an outbreak, the Federal Reserve has come under scrutiny as the market rapidly loses liquidity. The Dow Jones Industrial Average fell more than 3,500 points in its worst week since the […]
Don’t Lose It…
HERE’S THE LEAST surprising thing you’ll read this week: You can’t control the financial markets. They’re driven by news—and we simply don’t know what news we’ll get in the weeks and months ahead, whether it’s about the spread of the coronavirus, its impact on the global economy or something else entirely. But don’t despair: There’s […]
Dow Nosedives Nearly 1,200 in Biggest Single-Day Points Drop of All Time…
U.S. equity markets plunged into correction territory Thursday in what was another volatile session which followed President Trump’s announcement on Wednesday of a coronavirus task force. The Dow Jones Industrial Average fell over 1,193 points, its worst single point drop ever, as selling accelerated into the close of trading. The S&P 500 and Nasdaq Composite […]
Natural Gas Is Crushing Wind and Solar Power – Why Isn’t Anyone Talking About It?…
The U.S. Energy Information Administration just announced some spectacular news that should be banner headlines across the country: The price of natural gas has fallen to its lowest February level in 20 years. The data shows that natural gas prices fell to $1.77 per million British thermal units. In inflation-adjusted terms, the price of gas […]
Goldman Sachs Pleads Not Guilty to 1MDB Charges in Malaysia…
Three arms of Goldman Sachs reportedly pleaded not guilty Monday to Malaysian charges stemming from the investment bank’s involvement in the massive 1MDB scandal. A representative for Goldman entered the plea in Kuala Lumpur after a judge read out the charges related to the bank’s alleged role in raising $6.5 billion in bond sales for […]
THE DOW LOST 1,000 POINTS. WORST DAY IN TWO YEARS…
The stock market tanked on Monday—with the Dow Jones and S&P 500 indexes erasing their gains for 2020 as a surge in coronavirus cases outside of China boosted fears of a pandemic and global economic slowdown, but historical data shows that investors shouldn’t panic yet, according to experts – U.S. stocks had their worst drop […]
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