posted on 11 September 2015
Early Headlines: Investors Buying U.S. New Homes, Jeckyl And Hyde Stock Market, Market Volatility Record, Iraq Tackling Corruption
Written by John Lounsbury
Early Bird Headlines 11 September 2015
Econintersect: Here are some of the headlines we found to help you start your day. For more headlines see our afternoon feature for GEI members, What We Read Today, which has many more headlines and a number of article discussions to keep you abreast of what we have found interesting.
Asian shares get lift from Wall Street, dollar firms (Reuters) Asian shares rose on Friday following gains on Wall Street, while the dollar firmed after facing pressure from a rise in the yuan, but gains were capped by uncertainty over whether the Federal Reserve will raise interest rates next week. MSCI's broadest index of Asia-Pacific shares outside Japan was up about 0.8%. More on China stocks below.
Oil Could Drop as Low as $20, Goldman Says (Bloomberg) Goldman Sachs Group Inc. cut its oil price forecasts as it sees a global glut persisting into 2016 on further OPEC production growth that may force prices to drop as low as $20 a barrel at some point. The bank trimmed its 2016 estimate for West Texas Intermediate to $45 a barrel (average over the year), from a May projection of $57, according to an e-mailed research note Friday. Goldman also reduced its 2016 Brent crude prediction to $49.50 a barrel, from $62.
Investors snapping up new homes for rentals (CNBC) After the housing bubble crashed investors were buying up foreclosures and rehabbing to rent. Now they are buying up new homes for the same purpose. This is providing significant support to the homr building industry as home ownership has fallen to a 48-year low.
At ground zero, 9/11 anniversary now both public and private (Associated Press) After years of excluding the public this year marks the second with the site open to the public on the 9/11 anniversary. For the first 12 years after the tragedy only family members were allowed on the site for the annual anniversary.
Lawsuit alleges NYPD arrested Occupy protesters for speaking out (Al Jazeera) Lawsuit claims city failed to adequately train officers and encouraged unconstitutional practices. The lawsuit, which was filed in Manhattan federal court and seeks class-action status, asked for unspecified damages and a stop to the misapplication of disorderly conduct laws to arrest peaceful protesters.
This market is setting a wild volatility record (CNBC) In the first six months of 2015, the Dow Jones industrial average was never up or down more than 3.5 percent, something that had never happened before. Within that tight range, the Dow crossed its break-even point more than 20 times by late July, also a record. Since 01 August things have turned 180 degrees. Volatility has surged 120% and the number of days when most stocks trade in the same direction, up or down, has occurred at an unprecedented rate. In 11 of the last 15 days more than 80% of all stocks hvae either advanced or fallen together. Bespoke says this has never happened before over the past 25 years. Econintersect: When traditional correlations break down most investment programs fail to perform as expected.
Wall Street exec who lost harassment case charged with fraud (Associated Press) Benjamin Wey, founder and president of New York Global Group, an investment consulting firm, has been charged with conspiracy to commit securities fraud, wire fraud, and two counts of securities fraud. Prosecutors said in court papers that Wey made tens of millions of dollars illegally by manipulating the stock prices of companies in which he gained a secret financial interest. The scheme involved transactions between Chinese companies and U.S. shell companies.
Migrants undeterred by Balkan storms and Hungarian clampdown (Reuters) Thousands of refugees trudged through mud and torrential rain to Greece's border with Macedonia on Thursday, swelling a human tide across Europe that authorities appear powerless to control.
Turkey Kurds: Many dead in Cizre violence as MPs' march blocked (BBC News) At least 30 people have died in clashes in the Turkish city of Cizre since a military operation began there last week, Turkey's interior ministry says. The ministry says most of the dead were Kurdish militants but the pro-Kurdish Peoples' Democratic Party (HDP) says 20 civilians were killed in the violence. Locals say Cizre has been "under siege" since the military imposed a curfew.
A brave new Iraq? It starts with tackling corruption and rebuilding state legitimacy (The Conversation) Recent mass protests throughout Iraq have prompted Prime Minister Haider al-Abadi to promise what many long believed impossible: tackling the systemic corruption endemic to the Iraqi political system. The stakes are high. The Iraqi state's inability to provide security or basic services erodes its legitimacy, leading frustrated citizens to look elsewhere. Making inroads on the problem can help restore confidence in the government.
Chinese Stocks Head for Weekly Advance on Stimulus Speculation (Bloomberg) Stocks in both Hong Kong and Shanghai seem poised to close out Friday with a weekly gain after several weeks of turmoil.
>>>>> Scroll down to view and make comments <<<<<<
This Web Page by Steven Hansen ---- Copyright 2010 - 2016 Econintersect LLC - all rights reserved