U.S. stocks fell modestly on Monday, weighed down by declines in the financial and consumer discretionary sectors, as some investors booked profits on the heels of a record-setting week. Oil rose 2% in anticipation of OPEC action on Wednesday, while the U.S. dollar eased, U.S. treasuries saw falling yields, and gold rose more than 1%.
NEW YORK (Reuters) - U.S. stocks fell modestly on Monday, weighed down by declines in the financial and consumer discretionary sectors, as some investors booked profits on the heels of a record-setting week.
NEW YORK (Reuters) - The Obama administration signed its final plan for renewable fuel use in the United States last week, leaving an oil industry reeling from the most aggressive biofuel targets yet as President-elect Donald Trump takes over.
WASHINGTON (Reuters) - Despite Republican plans to scale back federal regulation next year, the U.S. Treasury is moving to finalize a controversial rule intended to make it harder for American companies to avoid U.S. taxes by redomiciling abroad.
VIENNA (Reuters) - OPEC experts ended their meeting on Monday without agreeing on concrete details of a planned reduction in oil output by individual countries that will be presented to an OPEC ministerial gathering on Nov. 30, an OPEC source told Reuters.
(Reuters) - The top priorities of Viacom Inc's acting president and chief executive are improving key relations with affiliates as well as the struggling media company's internal culture, Bob Bakish told Reuters at the end of his first week on the job.
(Reuters) - The World Trade Organization (WTO) ruled on Monday a tax break from Washington state to help Boeing develop its new 777X jetliner was a prohibited subsidy, in a setback for the U.S. planemaker as it eyes victory in a parallel case against Airbus.
Authored by Ron Paul via The Ron Paul Institute for Peace & Prosperity,
Former Dallas Federal Reserve Bank President Richard Fisher recently gave a speech identifying the Federal Reserve's easy money/low interest rate policies as a source of the public anger that propelled Donald Trump into the White House. Mr. Fisher is certainly correct that the Fed's policies have "skewered" the middle class. However, the problem is not specific Fed policies, but the very system of fiat currency managed by a secretive central bank.
Federal Reserve-generated increases in money supply cause economic inequality. This is because, when the Fed acts to increase the money supply, well-to-do investors and other crony capitalists are the first recipients of the new money. These economic elites enjoy an increase in purchasing power before the Fed's inflationary policies lead to mass price increases. This gives them a boost in their standard of living.
By the time the increased money supply trickles down to middle- and working-class Americans, the economy is already beset by inflation. So most average Americans see their standard of living decline as a result of Fed-engendered money supply increases.
Some Fed defenders claim that inflation doesn't negatively affect anyone's standard of living because price increases are matched by wage increases. This claim ignores the fact that the effects of the Fed's actions depend on how individuals react to the Fed's actions.
Historically, an increase in money supply does not just cause a general rise in prices. It also causes money to flow into specific sectors, creating a bubble that provides investors and workers in those ...
The greatest streak of stock market gains in almost 28 years may have some wondering if it is sustainable, but, according to AAII, this objective spike in valuations following Donald Trump's victory has sparked overwhelming bullishness among investors.
15 straight days of gains in Small Caps (only bettered by 1988's streak) has sent AAII bullishness soaring to its highest since January 2015 (following the end of QE3) with the biggest 3-week spike since September 2010.
There is no fear...
And equity market breadth is certainly not supportive...
Update: courtesy of NBC's Tom Winter, we have the alleged Somali refugee suspect's name, which is Abdul Razak Ali Artan.
NBC News: Suspect in Ohio State attack is Abdul Razak Ali Artan multiple law enforcement sources tell Pete Williams and @anblanx
— Tom Winter (@Tom_Winter) November 28, 2016
* * *
Following today's attack at Ohio State University, CBS is reporting that the sole suspect is an OSU student who was a Somali refugee. His name has not been released.
UPDATE: A 20-year-old Somali man is the suspect in the Ohio State University attack https://t.co/G7ANHT8lbn pic.twitter.com/kdOzF7aWiV
— CBS News (@CBSNews) November 28, 2016
There were conflicting report about the suspect's age with NBC adding that according to law enforcement officials, he was an 18-year-old Ohio State student, although it agrees that the unnamed suspect was a Somali refugee who was a legal permanent resident of the United States.
Conflict News adds that a terror motive is currently being investigated by authorities.
BREAKING: Ohio attacker reportedly a Somali refugee and a student at OSU. Terror motive being investigated by authorities - @AmichaiStein1
Econintersect's Economic Index improved but still with the economic outlook for weak growth. The index remains near the lowest value since the end of the Great Recession. This month there are no recession warning flags. Six month employment growth forecast indicates minor improvement in the rate of growth.
U.S. stocks close lower on Monday as investors find few reasons to keep pushing shares higher following an extended rally that took major indexes to a string of records and lifted major indexes for three straight weeks.
Econintersect wants your comments,
data and opinion on the articles posted. As the internet is a
"war zone" of trolls, hackers and spammers - Econintersect must balance its
defences against ease of commenting. We have joined with Livefyre
to manage our comment streams.
To comment, using Livefyre just click the "Sign In" button at the top-left corner of
the comment box below. You can create a commenting account using your
favorite social network such as Twitter, Facebook, Google+, LinkedIn or
Open ID - or open a Livefyre account using your email address.
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