28May2015 Market Close: Markets Close Down, But Higher Than Morning Lows, A Greek Default Worries Investors


Written by Gary

Late afternoon trading brought the averages back up near the unchanged line, but on very low volume. The global issues that we had this morning still exist and are not likely to go away tomorrow.

Investors remain skittish amid concerns about a Greek default, a tumble in Chinese shares and an unexpected rise in weekly U.S. jobless claims.

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What We Read Today 27 May 2015

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".).


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

To become a GEI Member simply subscribe to our FREE daily newsletter.

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

2015 SCE Housing Survey Shows Households Optimistic About Housing Market

by Andreas Fuster, Basit Zafar, and Micah Smith - Liberty Street Economics, Federal Reserve Bank of New York

The Federal Reserve Bank of New York today released results from its 2015 SCE Housing Survey. The survey, administered to 1,205 U.S. household heads in February, is a follow-up to the one conducted in February 2014. The purpose of the effort is to collect rich and high-quality information on consumers' experiences and expectations regarding housing. The survey collects data on individuals' perceptions and expectations of the growth in home prices, intentions regarding moving or buying a new home, and their access to credit, among other things.


Infographic Of The Day: An Introduction To Bed Bugs

Bedbugs are small, oval, brownish insects that live on the blood of animals or humans. 

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Video of the Day:

The U.S. Air Force announced it has certified the Falcon 9 rocket of Elon Musk's Space Exploration Technologies for national security space missions. Deborah Lee James, secretary of the Air Force, said in a statement, 'This is a very important milestone for the Air Force and the Department of Defense.

video of day picture

FOREX NEWS by DailyForex

USD/JPY Rises on Policy Divergence

Investors, speculating that interest rates in the United States are likely to rise higher this year, helped to push the U.S. Dollar to a multi-year peak versus the Japanese Yen.

Swiss Takes A further Step Towards Ending Banking Secrecy

The totally anonymous “numbered Swiss bank account” much beloved by authors of crime fiction as the ultimate repository for hiding one’s ill-gotten gains may itself, have its days numbered.

Australia’s CAPEX Report Not Promising

Australia released its business capital expenditure (CAPEX) report Thursday and it wasn’t promising.

Dollar Takes a Breather after Rally

The US Dollar eased back versus the Japanese Yen and the Euro after a short bout of investor profit taking which came in the wake of improved US data. That economic data had gone a long way to help restore some waning confidence in the greenback.

“She speaks yet she says nothing…”

It is fairly certain that Shakespeare’s Romeo was not thinking of Britain’s wished for changes in her relationship with the European Union, but the fact remains that the UK is saying very little about what it wants to change before a planned “in/out” referendum to be held before the end of 2017.
 more investing, markets, precious metals & forex

28May2015 Market Update: Opening Market Commentary: Markets Trending Downwards As Investor Concerns Escalate Over China, Europe And Greece

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'If You Ain't Cheating, You Ain't Trying' - How Forex Has Changed

by Andre Spicer, The Conversation

'If you ain't cheating, you ain't trying' were the words of one trader working in the foreign exchange market. They belie an attitude that was widespread among traders in this market between 2009 and 2013. Cheating was simply a normal part of a trader's day job. In fact, not cheating would be to shirk your duties.


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

Median Household Income Up 0.6% in April 2015

from Sentier Research

According to new data derived from the monthly Current Population Survey (CPS), median annual household income in April 2015 was $54,578, about 0.6 percent higher than the March 2015 median of $54,259. The Sentier Household Income Index for April 2015 was 96.0 (January 2000 = 100).

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