U.S stock future indexes are flat and are expected to follow the Euroasian markets which are in the red. Oil spiked earlier this morning when the Saudi oil minister announced that they will do everything to stabilize oil prices. WTI has since fallen to Friday's closing prices. The U.S. dollar rose to 100.03 yesterday and is trading sideways in the high 99's. Investors are obviously concerned with expectations for a first increase in U.S. interest rates in almost a decade next month.
Here is the current market situation from CNN Money
European markets are lower today with shares in France off the most. The CAC 40 is down 0.69% while London's FTSE 100 is off 0.43% and Germany's DAX is lower by 0.23%.
(Reuters) - Tyson Foods Inc , the biggest U.S. meat processor, reported a 4 percent rise in quarterly sales, helped by higher demand for chicken and as the Hillshire Brands acquisition boosted sales of prepared foods.
(Reuters) - U.S. stock index futures were little changed on Monday, coming off strong gains last week, with the S&P 500 posting its biggest gains in almost a year and the Dow Jones industrial average turning positive for the year.
FRANKFURT (Reuters) - Fresenius Medical Care , the world's largest dialysis provider, is looking for opportunities to grow in Europe and Asia as it feels the limits to growth in its largest market, the United States, its chief executive told Reuters in an interview.
GUANGZHOU, China (Reuters) - The United States Commerce Secretary said on Monday China would offer better legal protection to U.S. firms that suffer theft of trade secrets after annual trade talks that yielded scant progress on other topics like a proposed investment treaty.
Just 2 hours after news broke of Saudi officials discussing the need to do "whatever it takes" to stabilize the oil market - sending crude soaring - half the gains are gone. With the algos tagging Friday's highs, WTI Crude has tumbled back into the red from Friday's close as traders want action not words to solve the massive global oil glut...
Submitted by Charles Hugh-Smith of OfTwoMinds blog,
Perhaps a retail coals-in-the-stockings Christmas will awaken the mainstream media to the reality that recession is now a global phenomenon.
If container shipping is any reflection of the upcoming Christmas season, Santa is poised to fill the nation's Christmas stockings with coal. Let's start by noting that Baltic Dry Index Falls Below 500 for First Time Ever (gcaptain.com) and Container Freight Rates Plummet 70% In 3 Weeks (Zero Hedge).
For a corroborative report on shipping along America's Atlantic Coast, we turn to correspondent J.M., who works in the shipping industry. Here's is J.M.'s sobering first-hand observations:
We just arrived back in New York after a multi-port run down the Atlantic seaboard. My observations of the box ship trade in and out of those major ports, as well as coastwise between the ports, is that business is dismal.
I've never seen so many big container ships running around high in the water with nearly empty decks and holds. Not even in 2008-2011.
Admittedly, these are only anecdotal observations. And I'm well aware of the confirmation-bias tendencies we are prone to. Having said that, my experienced eye calculated that less than a third of the dozens of box ships I've seen this past 2 weeks were "normally" loaded, meaning roughly 2/3 to 3/4 of capacity or better. About half were obviously very lig ...
Lutz Otte netted more than $600,000 from passing stolen Swiss bank client data to German tax authorities. Now Switzerland proposes easing bank-secrecy rules to allow cooperation with foreign agencies when data is stolen.
-- this post authored by Adam Copeland, George Hall, and Louis Maccini
The Federal Reserve has kept interest rates at historic lows for the last six years, but eventually rates will return to their long-term averages. That means both policymakers and the public will once again be asking one of the classic questions in monetary economics: What are the impacts of rising interest rates on the real economy?
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