U.S. stocks closed sharply lower Tuesday, extending a pre-Thanksgiving rout that has been fueled mostly by a selling in shares of technology and internet-related companies, but has now spread to ensnare the broader market. Sharp declines in Target and Lowe’s after disappointing earnings also contributed to the tone. U.S. financial markets will be closed Thursday […]
Import Prices: Still No Signs of Tariffs Taxing Consumers…
The price of goods imported from China fell in the first month of the Trump administration’s expanded tariffs, government data showed Thursday. The Trump administration imposed tariffs on around $200 billion of goods imported from China at the end of September. Previously, the China tariffs had applied to $50 billion of goods, mostly technological imports. […]
APEC Fails to Reach Consensus As U.S.-China Divide Deepens…
Asia-Pacific leaders failed to agree on a communique at a summit in Papua New Guinea on Sunday for the first time in their history as deep divisions between the United States and China over trade and investment stymied cooperation. Competition between the United States and China over the Pacific was also thrown into focus with […]
5 U.S. Tech Giants Just Spent $116 Billion of Repatriated Cash on Buybacks…
While many analysts wanted to attribute the divergence in US stocks during the first three months of this year to strong economic data, the fiscal stimulus unleashed by Trump or stronger-than-expected corporate earnings, as analysts at Nomura (including cross-asset strategist Charlie McElligot) and Deutsche Bank have argued, when it comes to factors undergirding the market […]
Sparks Race to Build Export Terminals…
Energy Department Says U.S. Is Now World’s Top Oil Producer…
The United States is pumping record amounts of oil, vaulting over Russia to become the world’s biggest producer of crude. The Energy Information Administration said Thursday that the U.S. produced more than 11.3 million barrels a day in August, a 4 percent increase over the old record set in July. Russia’s energy ministry estimates that […]
Rescuing the Banks Instead of the Economy…
You can’t bail out the banks, leave the debts in place, and rescue the economy. It’s a zero-sum game. Somebody has to lose. That’s what happened in 2009 when President Obama came in. He invited the bankers to the White House and he said, “I’m the only guy standing between you and the mob with […]
Pompeo: China Is Buying an ‘Empire’…
Chinese President Xi Jinping is trying to buy an “empire” through predatory loans to poor countries around the world, according to the top U.S. diplomat. “When China shows up with bribes to senior leaders in countries in exchange for infrastructure projects that will harm the people of that nation, then this idea of a treasury-run […]
U.S. Named “World’s Most Competitive Economy” for First Time in 10 Years…
For the first time since the financial crisis, the US has regained its ranking as the ‘World’s Most Competitive Economy’, according to the World Economic Forum’s Global Competitiveness Index. What’s more, the US also scored high in the “innovation” pillar of the WEF’s index, which the organization added to better reflect the factors that are […]
Trump Correctly Blaming the Fed for Next Market Crash…
Radio host Dr. Dave Janda says everybody in Washington knows the next big crash is right around the corner. It’s been 10 years since the Fed reflated the last meltdown, and Dr. Janda says President Trump is already blaming the Federal Reserve for killing the economy that his policies revived. Dr. Janda explains, “President Trump […]
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