Wall Street recovered some of today's losses from this morning lows. The DOW closed down 78 points, the SP500 closed down -0.3% and the $NDX closed at the unchanged line. Towards the session end the BTFDers were in action partially saving the day, but investors still remain seriously worried about corporate earnings and Global financial events.
NEW YORK (Reuters) - Verizon Communications Inc said on Monday it would buy Yahoo Inc's core internet properties for $4.83 billion in cash, marking the end of the line for a storied Web pioneer and setting the stage for a big new internet push by the telecom giant.
TOKYO (Reuters) - Shares in Nintendo Co tumbled as much as 18 percent on Monday after the company said Pokemon GO would have a limited impact on its earnings - their biggest setback so far after a huge run-up on the smash-hit game.
BRUSSELS/BERLIN (Reuters) - Europe's Commissioner for Justice is working with EU consumer groups to pressure Volkswagen to compensate clients in Europe as it has in the United States over the diesel emissions scandal.
LONDON/PRAGUE (Reuters) - U.S. and European buyout funds are gearing up for SABMiller's sale of its central and eastern European beer brands, with some seeking to join forces to snap up assets worth up to 7 billion euros ($7.7 billion), sources familiar with the matter said.
DETROIT (Reuters) - An internal review begun at Fiat Chrysler Automobiles in 2015 found its U.S. sales figures were inflated, partly due to pressure to keep a year-over-year monthly sales streak alive, the Automotive News reported on Monday, citing two sources at the automaker.
(Reuters) - Sprint Corp reported better-than-expected first-quarter revenue as big discounts attracted more postpaid subscribers, and the No. 4 U.S. wireless carrier said it expected to be cash flow positive next fiscal year after breaking even this year.
(Reuters) - Starbucks Corp on Monday said it was tweaking its management structure as part of a long-range growth strategy that includes opening new retail concepts, including upscale coffee shops and bakery outlets.
Submitted by Lance Roberts via RealInvestmentAdvice.com,
The has been a rash of articles as of late suggesting there is a "new housing crisis" afoot. The issue this time, as it is suggested, is there is a "shortage" of homes for all the people that are wanting to buy homes causing prices to skyrocket out of reach. To wit:
"It hasn't been this tough to be in the housing market since the financial crisis.
To recap the problem, the supply of housing, especially in the affordable entry-level segment, is not keeping up with huge demand from first-time buyers and existing homeowners looking to upgrade."
It is true there is a lack of supply of homes currently on the market. However, the lack of supply is not being caused by a flood of millennial couples wanting to "buy" homes, but rather "all cash" buyers, particularly foreign buyers, snapping up properties for investment purposes.
Here is the evidence.
At The Margin
The problem with all of the analysis each month on the transactional side of housing is it only represents what is happening at the "margin." The issue at hand, with respect to housing, is more than just the transactional side of the equation which ...
Submitted by Raul Ilargi Meijer via The Automatic Earth blog,
John McDonnell, UK Shadow Chancellor of the Treasury (at least it sounds important) appealed to his -Labour- party on Sunday morning TV to "stop trying to destroy the party", and of course I'm thinking NO, please don't stop, keep at it, it's so much fun. When you watch a building collapse, you want it to go all the way, not stop somewhere in the middle and get patched up with band-aids.
It's alright, let it crumble, it's had its day. And if it's any consolation, you're not alone. Nor is that some freak coincidence. 'Labour'-like parties (the 'formerly left') all over the world are disintegrating. Which is no surprise; they haven't represented laborers for decades. They've become the left wing -and even that mostly in name only- of a monotone bland centrist political blob.
The other 'half' of that blob, the 'conservative' side, is disintegrating just as rapidly, as evidenced by the rise of Trump and a motley crew of Boris Johnson ilk.
The spontaneous self-immolation of the US Democratic Party mirrors that of the British Labour Party, but admittedly, it has even more entertainment value. America does entertainment like nobody else can.
In both cases, we see entire parties turn on their own candidates, it truly is a sight to behold. Especially since people like Bernie Sanders and Jeremy Corbyn are the only ones who do have a tangible connection to the people left that they represent.
One might even say Donald Trump falls in that category too, though in a slightly different way. The others, whether they are from the supposed left or right -and it really makes no difference anymo ...
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