The DJIA and S&P 500 closed just below Thursday's all-time highs while the NASDAQ recorded still another new high. Volumes were down: about 5.6 billion shares changed hands on U.S. exchanges, compared with the 6.4 billion daily average for the past 20 trading days, according to Thomson Reuters data. See also 'Weekly Wrap' from Investing.com to be posted shortly.
(Reuters) - The Dow and S&P 500 eased from record highs on Friday as tepid data dampened investor confidence in the economy's expansion, while the Nasdaq inched up to a second straight record high close.
WASHINGTON (Reuters) - U.S. retail sales were unexpectedly flat in July as Americans cut back on discretionary spending, pointing to a moderation in consumption that could temper expectations of a sharp pickup in economic growth in the third quarter.
BOSTON (Reuters) - One of Herbalife Ltd's largest investors sold more of the company's stock, just weeks after the U.S. government told the protein shake maker to reorganize its business, according to a filing with the U.S. Securities and Exchange Commission.
CANTON, Mass. (Reuters) - An attorney for Sumner Redstone said the media mogul would be willing to be interviewed briefly under oath in a lawsuit over his mental competency that could influence the future of his majority ownership of Viacom and CBS.
NEW YORK (Reuters) - Rupert Murdoch on Friday named company veterans Jack Abernethy and Bill Shine as co-presidents to lead Fox News after Chief Executive Officer Roger Ailes resigned last month following sexual harassment allegations.
NEW YORK (Reuters) - A U.S. judge denied a request by shareholders of SunEdison Inc for an official committee to represent them in the bankruptcy of the U.S. renewable power plant developer, which the judge described as "hopelessly insolvent."
(Reuters) - J.C. Penney Co Inc's quarterly loss more than halved as the company cut costs and benefited from higher sales of home goods and footwear as well as beauty products at Sephora outlets in its stores.
LONDON (Reuters) - The glue binding a still-aggressive global monetary policy response to a struggling world economy and almost daily record highs for world stock markets along with record low bond yields is set to remain intact in the coming week.
Submitted by Lance Roberts via RealInvestmentAdvice.com,
Despite deteriorating economic data, the market continues to cling to recent levels of over overbought, overextended and low reward/risk outcomes.
The problem for individual investors is the "trap" that is currently being laid between the appearance of strong market dynamics against the backdrop of weak economic and market fundamentals. Ignoring the last two to chase the former has historically not worked out well.
As David Rosenberg penned for the Financial Post:
"Okay, this really is one weird market.
I'm quite sure I have not seen such levels of confidence on one hand, and cognitive dissonance
Maybe they think the Fed goes, but it will be a mistake and send the economy back into a deflationary downturn.
But how can that be the case when this same 'smart money' crowd has built up a net speculative long position in the S&P 500 to the tune of 28,809 futures and options contracts?
The "greed" factor is also highly evident on the Chicago Board Options Exchange (CBOE) ...
2015 was a bad year for the Clintons: with only $10.6 million in taxable income, as Hillary revealed earlier today in order to shame Trump in revealing his tax returns, this was a 60% drop from the record $27.9 million they earned in 2014, it was the lowest income the power couple made since 2010, and was the third lowest income they generated in the past decade.
Of the $10.6 million, the dynastic presidential couple earned over 60%, or $6.7 million, from speaking fees: it was their top money-making activity by a wide margin. As reported earlier, the due also donated $1 million to "charity", of which 96% went to the Clinton Foundation.
A breakdown of the Clinton's income shows that they have earned nearly a quarter billion dollars, or $237 million to be precise, since leaving the White House in 2001. The full breakdown is shown in the chart below.
Hillary Clinton has famously described herself as "dead broke" when they left the White House, saying they were in debt. "We had no money when we got there, and we struggled to piece together the resources for mortgages for houses, for Chelsea's education. It was not easy. Bill has worked really hard. And it's been amazing to me. He's worked very hard."
According to tax filings, the Clintons went from making $357K in 2000 to nearly $16 million in 2001.
It is documented that speeches have been the primary source of income ...
Submitted by Michael Krieger via Liberty Blitzkrieg blog,
As Mark Zuckerberg expands, others get pushed out...
The following is a very interesting tale from one of America's most affluent communities.
Dear City Council Members and Palo Alto Residents,
This letter serves as my official resignation from the Planning and Transportation Commission. My family has decided to move to Santa Cruz. After many years of trying to make it work in Palo Alto, my husband and I cannot see a way to stay in Palo Alto and raise a family here. We rent our current home with another couple for $6200 a month; if we wanted to buy the same home and share it with children and not roommates, it would cost $2.7M and our monthly payment would be $12,177 a month in mortgage, taxes, and insurance. That's $146,127 per year?—?an entire professional's income before taxes. This is unaffordable even for an attorney and a software engineer.
It's clear that if professionals like me cannot raise a family here, then all of our teachers, first responders, and service workers are in dire straits. We already see openings at our police department that we can't fill a ...
Productivity plunges... Retail Sales disappoints... Consumer's Confidence in their finances lowest since 2014... Weak China data... global bond yields at record lows... US yield curve back near cycle flats... US and Global GDP expectations at cycle lows... BUT best week in oil in 4 months... simultaneous record highs in S&P, Dow, Nasdaq for first time since Dec 31 1999...
Before we start any of this "market" stuff... there is this - US 2016 GDP growth expectations crashed to cycle lows today...
Despite global economic surprises reaching a 30 month high... global GDP expectations tumbled to cycle lows...
This week was among the worst in 18 months for US economic data...
The Dow and S&P machines worked hard to make sure they closed green...
US major indexes have dipped into the red after trying in vain to hold opening highs. More bearish global new in that China's industrial production, retail sales and fixed asset investment for July all came in with weaker readings. Gold remains at session lows and the US dollar has recovered some of the morning losses which was to be expected, but is this a bearish trend?
God started this one...LOVE WILL WIN OVER FEAR. I trust you, do you trust me... My goal, to restore HOPE and SELF-WORTH through FAITH.Montgomery, AL., where just 50 years ago this simple act of LOVE would have probably had me hanging from a tree. do u count? of course u do! From me to you: I would like to thank everyone for all the comments, likes and shares. LOVE WILL WIN OVER FEAR. I trust you, do you trust me... My goal, to restore HOPE and SELF-WORTH through FAITH.
Hillary and Bill Clinton paid an effective federal tax rate of 34.2% in 2015, the Democratic presidential nominee's campaign announced Friday, as it challenged rival Donald Trump to release his own returns.
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