Wall Street closed in the red, but recovered 80% of its morning losses. Crude prices remain near the session lows, falling to the lowest level in nearly three weeks after data showed that oil supplies in the U.S. rose for the second week in a row. U.S. private employers have maintained a steady pace of hiring suggesting the economy is ready for the Fed's to raise interest rates this year.
Todays S&P 500 Chart
The first column is what was reported this morning. The second column is what analysts had forecast and the third column is the previous report. Full calendar HERE.
DUBLIN (Reuters) - Ireland's cabinet could not agree on Wednesday whether to fight a European Commission ruling against Dublin's tax dealings with Apple , raising questions over any appeal and the government's stability.
WASHINGTON (Reuters) - U.S. private employers maintained a steady pace of hiring in August and contracts to buy previously owned homes surged in July, suggesting the economy was regaining sufficient momentum for the Federal Reserve to raise interest rates this year.
(Reuters) - Alere Inc alleges Abbott Laboratories is trying to stymie its planned $5.8 billion takeover of the diagnostics company by purposefully delaying key submissions to anti-trust regulators, according to a lawsuit made public on Tuesday.
SEATTLE (Reuters) - ANA Holdings Inc , Japan's largest airline, said on Wednesday it will replace all 100 Rolls-Royce engines on its fleet of Boeing 787 Dreamliners following three engine failures this year caused by corrosion and cracking of turbine blades.
BRUSSELS (Reuters) - Multinational companies can expect the European Commission to press on with a crack down on sweetheart tax deals after handing Apple a breathtaking demand for 13 billion euros, officials and experts said on Wednesday.
(Reuters) - An initial check showed that Takata Corp air bag parts and material involved in a deadly explosion in a truck in Texas last week were being shipped properly, a U.S. regulator said on Wednesday.
3 of the top 10 best performing world equity indices in August are from China with HSCEI the best overall, gaining 6.5% in local currency terms. We find this move in China interesting as officials start to sound the alarm over the real estate market and need an outlet for that hot money flow... back into stocks - to avoid major currency weakness.
At the other end of the scale is Venezuala's market which tumbles 7.74% - which is actually better than we thought it would be.
One thing that is notable is that the last month has seen correlation across asset classes remains high... but this time it's rolling over - as Global Central Bank balance sheets actually fall modestly in USD terms...
More Canadians sour on their Magnificent Housing Bubble.
Canadians have been gung-ho about their magnificent housing bubble, feeding it with an endless willingness to pay every higher prices, even as regulators and international institutions issued warnings, as short sellers began circling, as subprime liar-loan scandals made their reappearance, and as a generation was getting priced out of the hottest housing markets in Canada, the metros of Toronto and Vancouver, and as locals came up with an acronym to describe what has fired up the market: HAM - Hot Asian Money.
But the Vancouver housing bubble, the hottest even in Canada, hit rough waters in early summer. By July the first serious troubles appeared.
Even as apartment prices soared 27% year-over-year and detached house prices 38%, overall sales plunged 19%, while sales of detached homes plummeted 31% [Vancouver Housing Bubble, Meet Pin].
Jill Stein and Gary Johnson are not the only, or perhaps even the most potent, so-called third-party challengers whom Hillary Clinton and Donald Trump need to contend with in November, notes a Wall Street Journal editorial.
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