Major US averages dropped suddenly during the last 15 minutes of the session under intense selling, then recovering fractionally and finally closing below the R2 (SPY 207.94, SP500 2086). The DOW closed up 130 points, but off its session highs as crude prices rose 3 percent for the second straight day, after polls showing a lower likelihood of Britain leaving the European Union.
NEW YORK (Reuters) - Oil prices rose 3 percent on Monday, settling higher for a second straight day, after polls showing a lower likelihood of Britain leaving the European Union while U.S. gasoline surged 5 percent in anticipation of peak summer driving demand.
HOUSTON (Reuters) - Two years into the worst oil price rout in a generation, large and mid-sized U.S. independent producers are surviving and eyeing growth again as oil nears $50 a barrel, confounding OPEC and Saudi Arabia with their resiliency.
(Reuters) - Facebook Inc shareholders approved a proposal to create a new class of non-voting shares, a move aimed at letting Chief Executive Officer Mark Zuckerberg give away his wealth without relinquishing control of the social media company he founded.
LONDON (Reuters) - Billionaire investor George Soros said on Monday he saw Russia emerging as a global power as the European Union collapses, in much the same way as the EU flourished when the Soviet Union started falling.
NEW YORK (Reuters) - Wall Street analysts who cover big banks will endure a long night on Thursday, when a barrage of data will show how well the largest U.S. financial institutions can stand up under stress.
WASHINGTON (Reuters) - Regulators may hurt the economy and push borrowers toward non-bank lenders if they set too-high capital standards for Wall Street, Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, said on Monday.
Netflix began its price hikes in May and will continue to ask for more money from current subscribers through the rest of 2016. This could mean losing hundreds of thousands of customers for the streaming service.
There is nothing like a good scare to keep euphoria at bay. Right now, the anxiety over the U.K.'s potential "Brexit" from the European Union fills the bill, though skeptics doubt its power to wreak havoc.
Econintersect wants your comments,
data and opinion on the articles posted. As the internet is a
"war zone" of trolls, hackers and spammers - Econintersect must balance its
defences against ease of commenting. We have joined with Livefyre
to manage our comment streams.
To comment, using Livefyre just click the "Sign In" button at the top-left corner of
the comment box below. You can create a commenting account using your
favorite social network such as Twitter, Facebook, Google+, LinkedIn or
Open ID - or open a Livefyre account using your email address.
You can also comment using Facebook directly using he comment block below.
Econintersect Live Market
Print this page or create a PDF file of this page
The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.
Take a look at what is going on inside of Econintersect.com