Wall Street closed lower (SPY -0.3%), about where it started this morning after the opening. Crude prices, the US dollar have fallen -2.1% and -0.6% respectively. Alphabet beats by $0.43, beats on revenue and stocks end week lower as new FBI probe into Clinton emails overshadows healthy GDP.
NEW YORK (Reuters) - U.S. stocks declined in a volatile session on Friday but were able to partially recover from a sharp drop spurred by news the FBI will review more emails related to Democratic presidential candidate Hillary Clinton's private email use.
(Reuters) - The court-appointed trustee liquidating Bernard Madoff's firm said on Friday he has reached a settlement with the family of late Beverly Hills money manager Stanley Chais that will provide more than $277 million to victims of Madoff's Ponzi scheme.
DETROIT (Reuters) - BMW is recalling 154,472 vehicles registered in the United States and Canada for a fuel pump problem that could cause stalling, according to a filing with U.S. safety regulators and BMW.
WASHINGTON (Reuters) - The U.S. economy grew at its fastest pace in two years in the third quarter as a surge in soybean exports and a rebound in inventory investment offset a slowdown in consumer spending.
BRUSSELS (Reuters) - The parliament of Belgium's French-speaking region of Wallonia and other regional assemblies voted in favour of a planned EU-Canada trade agreement on Friday, ending opposition that had threatened to destroy the entire deal.
NEW YORK (Reuters) - Billionaire investor Bill Ackman's Pershing Square Capital Management is offering its hedge fund clients new fee arrangements following a second straight year of losses, according to a letter to investors on Thursday seen by Reuters.
FRANKFURT/NEW YORK (Reuters) - U.S. and U.K authorities have made progress in their investigation into allegations that Deutsche Bank helped its clients in Russia disguise suspicious trades, and a settlement could come by the first half of next year, people familiar with the matter said.
VIENNA/DUBAI (Reuters) - OPEC officials meeting in Vienna on Friday to work out the details of their plan to reduce oil production had yet to reach agreement after hours of talks, amid objections by Iran which has been reluctant to even freeze its output, OPEC sources said.
While Hillary has yet to address today's stunning letter by FBI director Comey, who reported that the Federal Bureau of Investigations has "opened" a probe into Hillary Clinton's email as a result of "findings" on what the NYT reported was an electronic device belonging to Anthony Wiener, a clearly angry John Podesta, Clinton's recently hacked campaign chair, issued the following statement in Response to FBI Letter to GOP Congressional Chairmen
In response to the letter sent by FBI Director James Convey to eight Republican committee chairman in Congress, Hillary for America Chair John Podesta released the following statement Friday:
Upon completing this investigation more than three months ago, FBI Director Comet' declared no reasonable prosecutor would move forward with a case like this and added that it was not even a close call. In the months since, Donald Trump and his Republican allies have been baselessly second-guessing the FBI and, in both public and private, browbeating the career officials there to revisit their conclusion in a desperate attempt to harm Hillary Clinton's presidential campaign.
FBI Director Comey should immediately provide the American public more information than is contained in the letter he sent to eight Republican committee chairmen. Already, we have seen characterizations that the FBI is 'reopening' an investigation but Comey's words do not match that characterization. Director Comey's letter refers to emails that have come to light in an unrelated case, but we have no idea what those emails are and the Director himself notes they may not even be significant.
It is extraordinary that we would see something like this just 11 days out from a presidential election.
Mounting evidence would suggest it's getting more and more difficult for the left to claim that there are "no signs" of fraud in the 2016 election cycle...though we're sure they will continue to try. Just this morning the Miami Herald noted that two arrests were made in Miami-Dade county on election fraud charges including efforts by one woman to illegally register voters (some of whom were dead...a recurring theme this election cycle) while another 74-year-old election worker was charged with actually "illegally marking ballots".
A 74-year-old woman tasked with opening envelopes sent by Miami-Dade County voters with their completed mail ballots was arrested Friday after co-workers caught her illegally marking ballots, resulting in an unknown — but small — number of fraudulent votes being cast for mayoral candidate Raquel Regalado.
Investigators linked Gladys Coego, a temporary worker for the county elections department, to two fraudulent votes, but they suspect from witness testimony that she submitted several more.
In a separate election-fraud case, authorities also arrested a second woman for unlawfully filling out voter-registration forms on behalf of United for Care, the campaign to legalize medical marijuana in Florida.
The Miami-Dade state attorney's office plans to accuse Tomika Curgil, 33, of filling out forms for five people without their consent. She also submitted at least 17 forms for people who apparently don't exist — and several forms for people who are dead.
Police officers arrested Curgil at her Liberty City home Friday morning and intend to charge her with five felony counts of s ...
After becoming the most famous case of hyperinflation in modern history roughly ten years ago, Zimbabwe is about to have another go at conjuring paper money out of thin air.
I'm sure this time will be different.
You know the story. Starting in the late 1990s, the Zimbabwe government's policies under Robert Mugabe began to have some devastating effects.
He confiscated private property from established (mostly white) farmers and redistributed the land in very tiny tracts to his supporters, most of whom had no experience in farming.
Unsurprisingly, Zimbabwe's once-booming agriculture exports collapsed almost overnight.
This destructive, authoritative control pervaded across nearly all industries, and by the early 2000s, the economy was in dire straits.
Unemployment and inflation skyrocketed.
In 2001 alone, retail prices doubled. But that was just the beginning.
Inflation rose so quickly that the government was having to constantly print new denominations of currency- thousand Zimbabwe dollar notes, then ten thousand Zim dollar notes... then million dollar notes... even trillion dollar notes.
By 2007, the hyperinflation was so bad that prices were doubling roughly every day.
My friends here in Zimbabwe tell me stories of going out for drinks at a bar; they'd drink a few beers for an hour or so, after which the bartender would inform them that the price of a beer had just increased by 50%.
People learned very quickly to spend money as soon as possible, and long lines formed at grocery stores as an entire nation desperately tried to turn their paper cur ...
Hillary is set to take the stage at a rally in Cedar Rapids, Iowa for the first time since the FBI just announced plans to reopen their investigation into her email scandal. Clinton's remarks were scheduled to get underway at 1:15 p.m. CT though we suspect she made need a little extra time to prep given recent developments. All eyes will be focused on whether Hillary simply pretends nothing has happened or if she actually decides to address the "elephant" in the room.
After appearing in Cedar Rapids, Clinton is scheduled to head to Des Moines for a 4:45 p.m. CT event at Theodore Roosevelt High School though somehow we suspect that appearance may be in jeopardy.
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