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26Jul2017 Market Close: Wall Street Closed Higher. DOW Up Almost Triple Digits, SP 500 Closes Flat, WTI Crude Settles In The High 48 Handle

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Written by Gary

U.S. stocks slid off session highs today (SPY +0.01), but recovered somewhat after the Federal Reserve kept interest rates unchanged.

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What We Read Today 26 July 2017

Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary 'reading list' which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for 'reading list' items are gratefully reviewed, although sometimes space limits the number included.

This feature is published every day late afternoon New York time. For early morning review of headlines see "The Early Bird" published every day in the early am at GEI News (membership not required for access to "The Early Bird".).

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Every day most of this column ("What We Read Today") is available only to GEI members.

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 more features, analysis, studies, and news published in the last week

The CEO Of Boston Dynamics Explains Each Robot In The Fleet

Three years after acquiring the MIT robotics lab Boston Dynamics, makers of Atlas and other scary bots, Alphabet is selling it off to Softbank, a Japanese telecommunications company. These lumbering machines are clearly still a work in progress, and are indeed reminiscent of fictional metal monsters like The Empire's armada of AT-ATs or the bipedal ED-208 from RoboCop. However, the biggest threat these humanoid bots pose isn't to our physical safety but rather to our economic futures.

Infographic Of The Day: Town Names That Will Make You Fall Out Of Your Chair

Some city names are a good reminder of how while times change, some things still remain the same.

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Video of the Day:

Three years after acquiring the MIT robotics lab Boston Dynamics, makers of Atlas and other scary bots, Alphabet is selling it off to Softbank, a Japanese telecommunications company. These lumbering machines are clearly still a work in progress, and are indeed reminiscent of fictional metal monsters like The Empire's armada of AT-ATs or the bipedal ED-208 from RoboCop. However, the biggest threat these humanoid bots pose isn't to our physical safety but rather to our economic futures.


video of day picture





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Current Weather Outlook

Written by

When the Long-Wave features (Ridges and Troughs related to the rotation of Planet Earth) are not very distinct, the ability to make forecasts declines. This seems to be the situation beyond about a week right now. Local geography then assumes increased importance. There can be oddities since the checks and balances on weather features moving from one place to another are not as strong as usual.


 more investing, markets, precious metals & forex

26Jul2017 Market Update: Wall Street Makes New Record Highs Again, But Can't Hold Them, New US Single-family Home Sales Increased In June, WTI Crude Remains In The High 48 Handle



 more opinion

Britain Better Fix Its Identity Crisis Fast - Or Risk A Disastrous Brexit

from The Conversation

-- this post authored by Timothy Oliver, University of Hull

There are lots of productive ways to analyse Brexit - why it happened, how it's developing, and how it might turn out. One of the most interesting is to use the idea of an identity to understand both why the process is proving so painful for the UK, and also why the rest of Europe still seems so confused about why the UK is engaging in this process at all.

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 USA economy at a glance (boxed items are updates in last 7 days)

26 July 2017 FOMC Meeting Statement: Balance Sheet Reduction To Begin Soon?

Econintersect: The Federal Open Market Committee (FOMC) - the board of directors of the Federal Reserve maintained the federal funds rate as expected. Additionally, no action was taken at this meeting to reduce the Federal Reserves' balance sheet.

.... For the time being, the Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction. The Committee expects to begin implementing its balance sheet normalization program relatively soon, provided that the economy evolves broadly as anticipated ....

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