Wall Street futures pointed to a lower open (SPY -0.1%) today as investors weighed weekend comments from the Fed and looked ahead to a speech by the U.S. central bank chief Ms. Janet Yellen on Friday. Chicago Fed National Activity (Jul) was better than expected, up from 0.05 to +0.27. Short-term indicators are moderately bearish.
Here is the current market situation from CNN Money
European markets are lower today with shares in Germany off the most. The DAX is down 0.66% while London's FTSE 100 is off 0.45% and France's CAC 40 is lower by 0.28%.
ZURICH (Reuters) - A U.S. national security panel has cleared ChemChina's $43 billion takeover of Swiss pesticides and seeds group Syngenta , the companies said, boosting chances that the largest foreign acquisition ever by a Chinese company will go through.
(Reuters) - Canadian convenience store operator Alimentation Couche-Tard Inc said it would buy U.S. convenience store retailer CST Brands Inc for about $3.67 billion, as the company looks to strengthen its U.S. operations.
LOS ANGELES (Reuters) - U.S. pay TV customers will have more chances this fall to catch up on shows in mid-season as networks increase video-on-demand offerings in their battle to keep audiences from jumping to streaming services.
SHCHETINKA, Russia (Reuters) - Russia's government should do its best to privatise a stake in the nation's largest oil producer Rosneft this year, Russian Economy Minister Alexei Ulyukayev said on Monday.
(Reuters) - Office Depot Inc said on Monday Chief Executive Roland Smith would retire, three months after the second-largest U.S. office supplies retailer and bigger rival Staples Inc abandoned their planned merger.
TAIPEI (Reuters) - Foxconn, which assembles Apple Inc products, said on Monday two workers at its manufacturing facilities in China died last week, even as the company made efforts to improve labor conditions that came under scrutiny after a spate of suicides in recent years.
In the aftermath of the Brexit vote, there has been increasing skepticism and rising doubts about the viability and overall future of the European "project" which has been impacted not only by the stark British refusal to be part of Europe, but ongoing terrorist attacks in key European nations prompting calls for an end to the customs union. As a result the leaders of Germany, France and Italy are meeting today on the Italian island of Ventonene to discuss how to keep the European project together in the second set of talks between the premiers of Europe's three largest economies following the Brexit vote.
Italian Prime Minister Matteo Renzi hosts German Chancellor Angela Merkel and French President Francois Hollande on an island off the coast of Naples ahead of September's EU summit called to discuss reverberations from the Brexit vote.
"They will be coming to discuss how to relaunch Europe from the bottom up, there's a big need," Renzi said on Sunday. "Relaunching Europe is a totally open game but it needs to be played," he said.
The successful Brexit vote has unleashed a torrent of anti-European sentiment, and as Reuters notes, officials in Brussels and Berlin fear the June 23 vote could lead to a referendum in the Netherlands - a founding member of the union - on whether to also leave the bloc.
"Monday aims to show the unity of Europe's three biggest countries, but not to create a specific club," a French diplomatic source said, noting that the aim was to prepare for the groundwork for the forthcoming Bratislava summit.
As the NYT first reported on Friday, in the latest attempt to justify her use of a private email server, the FBI notes from Hillary Clinton's deposition revealed that she told federal investigators that former Secretary of State Colin Powell suggested she use a personal email account as he had done.
We promptly noted a key inconsistency with this story: "where the attempt to deflect blame from Hillary and toward Powell fails is the following "Toward the end of the evening, over dessert, Albright asked all of the former secretaries to offer one salient bit of counsel to the nation's next top diplomat," Conason writes. "Powell told her to use her own email, as he had done, except for classified communications, which he had sent and received via a State Department computer."
In an immediate response, Colin Powell's office in a statement said he could not recall the dinner conversation. He did recall describing the system he used to her, but the statement did not say he suggested Clinton do the same. "He did write former Secretary Clinton an email memo describing his use of his personal AOL email account for unclassified messages and how it vastly improved communications within the State Department," the statement said. "At the time there was no equivalent system within the department."
Furthermore, as Reuters noted, Powell has said he had no choice besides using his private account as the department did not have a fully functioning email system of its own when he joined in 2001. He used a secure department computer to manage classified information, the statement said.
Overnight, a rather displeased Colin Powell said Hillary Clinton ...
Deposits at Bank of Ireland are soon to face charges in the form of negative interest rates after it emerged on Friday that the bank is set to become the first Irish bank to charge customers for placing their cash on deposit with the bank.
This radical move was expected as the European Central Bank began charging large corporates and financial institutions 0.4% in March for depositing cash with them overnight.
Bank of Ireland is set to charge large companies for their deposits from October. The bank said it is to charge companies for company deposits worth over 10 million.
The bank was not clear regarding what the new negative interest rate will be but it is believed that a negative interest rate of 0.1 per cent will initially be charged to such deposits by Ireland's biggest bank.
Buying low-volatility stocks and shares with good dividends often amounts to the same thing. A dividend itself can damp volatility, because the rising dividend yield that comes with a falling price can bring in buyers.
Brian Lazorishak, senior portfolio manager at Stack Financial Management in Whitefish, Mont., pointed to the market's breadth, as measured by the ratio of advancers to decliners, and the breadth in trading volume.
Econintersect wants your comments,
data and opinion on the articles posted. 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