Last Friday's job's report took the SP500 futures down one percent and has recovered fractionally over the weekend. The markets are expected to open lower and then climb back to Thursday's closing prices if today's U.S. ISM Non-Manufacturing Composite comes in better than what is expected.
The U.S dollar has also fallen and the oils have climbed setting up an interesting week of trading . . . and then there is Greece!
Here is the current market situation from CNN Money
European markets finished mixed as of the most recent closing prices. The FTSE 100 gained 0.35% and the CAC 40 rose 0.24%. The DAX lost 0.28%.
WASHINGTON (Reuters) - Greek Finance Minister Yanis Varoufakis said on Sunday that Greece "intends to meet all obligations to all its creditors, ad infinitum," seeking to quell default fears ahead of a big loan payment Athens owes the IMF later this week.
It looks as though Turkish authorities are once again set to show Twitter "the power of the Republic of Turkey," as reports indicate access to social media in the country has been blocked. The move looks to be related to the widespread dissemination of pictures showing prosecutor Mehmet Selim Kiraz after he was taken hostage in Istanbul by DHKP-C last week. Here's more:
Turkish authorities have blocked access to Twitter, Youtube and Facebook over the publication of photos published on the three social media platforms, showing a prosecutor who was taken hostage by militants in Istanbul last week.
A number of Turkey's leading Internet service providers practiced the ban in the afternoon April 6, an official confirmed after widespread reports of problems to have access to the social media websites.
Speaking to daily HÃ¼rriyet, Internet Service Providers Union (ESB) Secretary General BÃ¼lent Kent stressed that "the procedure continues" as all service providers are expected to practice the ban soon.
Two militants with alleged links to the outlawed far-left Revolutionary People's Liberation Party-Front (DHKP-C) took Mehmet Selim Kiraz, the prosecutor in the controversial ca ...
(Reuters) - U.S. federal law enforcement agencies contacted several top Herbalife Ltd members last week for information about their own business practices, CNBC reported, citing sources familiar with the matter.
As market participants slowly make their way back to trading desks around the post-Easter world, and especially the US where a truncated session on Friday morning ended in tears for anyone hoping for a 2015 US recovery following an abysmal March nonfarm payrolls print, they find that unlike on previous occasions, the equity futures liftathon is nowhere to be found this morning, with the S&P set to resume trading in the red for 2015.
That, however, should hardly come as a surprise with Q1 earnings season about to start, a season which is expected to post a decline in non-GAAP EPS terms, with Q2 and Q3 set to follow, all of this coming after a quarter which as we showed yesterday, tumbled over 17% (!) Y/Y in GAAP EPS terms.
Newsflow has been slow this weekend, with no material developments on the Greek front where Greece overnight agreed to repay its debt to the International Monetary Fund by April 9, IMF chief Christine Lagarde said after a meeting with Greek Finance Minister Yanis Varoufakis. There was speculation ahead of the visit that Athens might fail to meet the 460-million-euro ($501-million) IMF installment if forced to choose between the IMF and paying government workers. As AFP reported, Laga ...
LONDON (Reuters) - Oil futures climbed more than $1 a barrel on Monday, after Saudi Arabia raised its prices for crude sales to Asia for the second month running, signaling improved demand in the region.
TOKYO (Reuters) - Asian shares rose and the dollar steadied but remained under pressure on Monday, after a dismal U.S. jobs report led investors to pare bets the U.S. Federal Reserve would hike interest rates anytime soon.
James Rickards recently mentions in Why the U.S. is Letting China Accumulate Gold that, as the second largest economy in the world, China should accumulate the right amount of gold corresponding to its fast-growing economy. Nevertheless, three numbers that he uses are debatable.
Submitted by James H. Kunstler, via Contra Corner blog,
Behold the proposed new Kingdom Tower for Jeddah, Saudi Arabia — at one full kilometer in height, about twice the size of New York's new Freedom Tower.
The Kingdom Tower comprises 252 floors of mixed market apartments, hotel rooms, and offices. It is an axiom that imperial societies build their greatest monuments just before they collapse, so consider this a portent for the oil empire of Saudi Arabia. There will always be an Arabia — well something will occupy that desolate region — but it may not be the private domain of the Saud clan much longer, especially as war breaks out across the Middle East and Persia.
This will give you some idea of the scale. A year ago I went on on a junket to Dubai (a panel to discuss the development of a proposed a new urban quarter). The opening night cocktail party was held at the top of the Burj Khalifa. I to ...
WASHINGTON (Reuters) - The head of the International Monetary Fund said after talks with the Greek finance minister on Sunday that she welcomed his confirmation that Athens would make a loan payment due to the IMF later this week.
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