U.S. stock index futures pointed to a marginally higher open today (SPY +0.7%), as investors looked ahead to a fresh batch of corporate earnings reports and U.S. economic data, while keeping an eye on oil prices. Oil prices rallied for the third session in a row today, hitting a three-week high (WTI 45.15) amid indications oil producers are a collective production freeze.
Here is the current market situation from CNN Money
European markets are higher today with shares in London leading the region. The FTSE 100 is up 0.52% while Germany's DAX is up 0.39% and France's CAC 40 is up 0.12%.
(Reuters) - U.S. stock index futures edged higher on Monday, tracking global markets, as oil prices rose and on rising speculation that China may unveil a fresh stimulus program to prop up its economy.
TOKYO (Reuters) - Japan's economic growth ground to a halt in April-June as weak exports and shaky domestic demand prompted companies to cut spending, putting fresh pressure on premier Shinzo Abe to come up with policies that will produce more sustainable growth.
LONDON (Reuters) - Oil prices rose on Monday to their highest in nearly a month, with benchmark Brent crude trading more than 10 percent above the start of August, as speculation intensified about potential producer action to support prices in an oversupplied market.
SHANGHAI/SAN FRANCISCO (Reuters) - Tesla removed the word "autopilot" and a Chinese term for "self-driving" from its China website after a driver in Beijing who crashed in "autopilot" mode complained that the car maker overplayed the function's capability and misled buyers.
HONG KONG (Reuters) - The New York Stock Exchange (NYSE) sees technology companies driving a revival in new Asian listings and expects double-digit IPOs through the end of 2017 from the region, the exchange's global head of capital markets said in an interview.
BEIJING (Reuters) - The internationalization of the yuan has exceeded people's expectations and its global acceptance will be driven by market forces, Yi Gang, a China central bank vice governor, said on Monday.
HONG KONG (Reuters) - Crypto-currency exchange Bitfinex's plan to impose losses on all its trading clients for the theft by hackers of $72 million in Bitcoin rests on two flawed pillars, according to lawyers.
(Reuters) - Private-equity firm KKR & Co may bid for television distributor Entertainment One Ltd after the owner of the preschool cartoon character "Peppa Pig" rejected an offer from UK broadcaster ITV Plc , Bloomberg reported on Sunday.
CARACAS (Reuters) - Venezuela, which holds the world's largest crude reserves, is on track to suffer its steepest annual oil output drop in 14 years as it suffers the effects of an economic crisis and years of under investment and mismanagement, according to data seen by Reuters and interviews with company sources and workers.
One of the prominent "up and coming" managers in the hedge fund industry, which recently has been best known not for star names or outsized returns, but quite the contrary - lack of alpha creation and redemptions - noted short-seller Sahm Adrangi of Kerrisdale Capital, got into hot water over the weekend, when he was reportedly busted in the Hamptons on charges of drunken driving and cocaine possession over the weekend after getting into a crash.
Sahm Adrangi, 35, founder and chief investment officer of Kerrisdale Capital Management, was driving on Montauk Highway near Bluff Road at around 3 a.m. Saturday when he smashed into a Ford SUV, according to the East Hampton Star, according to the NY Post. The other motorist was injured. Police did not say if he was badly hurt.
Each driver told police the other had veered over the double yellow line before the accident. Cops ticketed Adrangi for speeding and then charged him with DUI after he refused a breath test. Adrangi was brought before the East Hampton Town Justice Court later that morning, and deferred his arraignment until his next court appearance, the report said.
Neither Adrangi, nor the firm responded to requests for comment. The Yale alum began his career with the leveraged- finance investment-banking group of Deutsche Bank.
Adrangi launched Kerrisdale in 2009 with less than $1 million and has
grown it into a more than $500 million company, according to its Web
Deposit bail-in risks are slowly being realised in Ireland, after it emerged overnight that FBD, one of Ireland's largest insurance companies, have been moving cash out of Irish bank deposits and into bonds.
Revelations regarding deposit bail-in risks came in the wake of warnings of a new property crash centred on the housing market in Ireland. The former deputy governor of the Central Bank warned in an op-ed in a leading international financial publication, Project Syndicate, that Ireland is at risk of another housing market crash.
Insurer FBD has moved over 150 million out of the Irish banking system and into corporate and sovereign bonds over the past year. The move was prompted by low returns offered by bank deposits and the risks that deposit bail-in rules could ...
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