Markets closed higher after making a mid afternoon dip on 'stronger' volume. The rise belies the fact that the SP500 tried to break through the 2034 level again from this morning, making a double top, and failing. Oil prices fell to the mid 46's, gold and the US dollar remained relatively stable.
NEW YORK (Reuters) - Crude oil fell about 4 percent on Monday after a tumble in gasoline futures added pressure to a market slumping on slower growth in China and signs that Iranian oil will return to the market soon following implementation of its nuclear deal.
(Reuters) - Morgan Stanley on Monday warned that there was little hope for a quick turnaround in its key trading business given the persistence of global growth concerns that helped pummel the bank's third quarter earnings.
SAN FRANCISCO (Reuters) - Despite strong headwinds from overseas that are holding down U.S. inflation, the Federal Reserve should soon begin to raise interest rates to slow down economic growth before it becomes unsustainable, a top Fed official said on Monday.
FRANKFURT (Reuters) - German airline Lufthansa said on Monday it had offered cabin crew additional retirement benefits if they worked beyond the age of 55 as well as wage increases in a bid to end a protracted labor dispute.
(Reuters) - Valeant Pharmaceuticals International Inc , which has come under fire for raising drug prices and is being investigated by the U.S. government, predicted on Monday that lower price increases are ahead for the whole industry.
The Zambia Kwacha, down over 45% year-to-date against the dollar, is the world's worst currency. Last week, in a desperate bid to end the pain, President Edgar Lungu closed all bars and clubs, cancelled all sports and entertainment and demanded his people to pray, on a national day of devotion and fasting, as "hope seems to have deserted the minds of the people.. as anxiety and distress prevail throughout the land." Given the continued drop in both Copper and the Kwacha... god did not answer their prayers.
"God save the kwacha."
That's what Zambian President Edgar Lungu wants his people to pray for on a national day of devotion and fasting on Sunday to reverse a decline in the world's worst currency and fix a litany of problems from plunging copper prices to electricity shortages. As Bloomberg reported:
All bars, nightclubs and entertainment venues have been instructed by the government to shut on the day, while the Football Association of Zambia has canceled domestic games. Church leaders are rallying their members to heed the president's call in a nation where more than 80 percent of the 15 million population are Christian.
"These days are like the last days," Gordon Chanda, a driver for a law firm, said as he sipped a Mosi beer at Sylvia's Comfort bar, taking cover from a heat wave that hit the capital, Lusaka, this week. "We need more prayers."
Lungu, 58, is seeking divine intervention to help an economy in crisis as government efforts fail to halt the kwacha's 45 percent slump against the dollar this year, the most of 155 ...
Morgan Stanleyâ€™s bid to make its earnings less prone to market swings sputtered in the third quarter after drops in the trading and private-equity businesses led the New York firm to miss analystsâ€™ estimates.
Appraisal adjustments are standard procedure and certain adjustment features result in greater appraisal adjustments. But how many times are adjustments made in the appraisal process and for what specific features of the home? Using a national sample of approximately 1.3 million appraisal reports between 2012 and 2015, new analysis from CoreLogic shows which home features are being adjusted the most frequently, as well as which are being adjusted for the most money, thereby having the greatest impact on appraisal values,
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