econintersect.com
       
  

FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.



01Sep2017 Market Update: Wall Street Higher, DOW Up 77 Points, WTI Crude Down -0.2 Percent, U.S. Federal Debt Ceiling Standoff Is Raising Alarm Bells

Written by Gary

US stock markets rose today (SPY +0.3%), with the Dow hitting the 22,000 mark for the first time in more than two weeks.


Here is the current market situation from CNN Money

North and South American markets are mixed today. The Bovespa is up 1.93% while the S&P 500 gains 0.33%. The IPC is off 0.11%.

Traders Corner - Health of the Market

What Is Moving the Markets

Here are the headlines moving the markets.

Wall St. higher as tepid jobs data lowers rate hike chance

(Reuters) - U.S. stocks rose on Friday, with the Dow hitting the 22,000 mark for the first time in more than two weeks, after a tepid August jobs report increased the likelihood of the Federal Reserve holding back on raising interest rates again this year.

Looming debt ceiling deadline pushing some U.S. fund managers to cash

NEW YORK (Reuters) - A potential standoff over the U.S. federal debt ceiling is raising alarm bells among fund managers who fear a repeat of 2011 when a protracted showdown over increasing the government's borrowing limit and subsequent downgrade of U.S. credit quality led to a more than 15 percent slump in the S&P 500 stock index.

Federal Reserve finalizes rules to help unwind big banks

WASHINGTON (Reuters) - The Federal Reserve on Friday finalized a new rule that should make it easier to wind down systematically important U.S. banks by creating a safe harbor for financial contracts after a firm defaults.

Dow, DuPont complete planned merger to form DowDuPont

(Reuters) - Dow Chemical Co and DuPont said on Friday the companies had successfully completed their planned $130 billion merger to form DowDuPont.

U.S. job growth slows in August; wage growth retreats

WASHINGTON (Reuters) - U.S. job growth slowed more than expected in August after two straight months of hefty gains, but the pace of increase should be more than sufficient for the Federal Reserve to announce a plan to start trimming the massive bond portfolio it built to support the economy.

Lululemon is leaning toward men to bolster growth

(Reuters) - Lululemon Athletica Inc is coming off two straight quarters of solid growth and is forging ahead with expansion plans that include a focus on menswear, a move that could breathe life into an ailing athleisure market.

FDA approves Pfizer's leukemia drug

(Reuters) - The U.S. Food and Drug Administration (FDA) on Friday approved Pfizer Inc's drug, Mylotarg, for certain patients with acute myeloid leukemia (AML).

Shares rise as automakers look to replace Houston's drowned cars

DETROIT (Reuters) - The Big Three Detroit automakers on Friday reported better-than-expected August sales and issued optimistic outlooks for demand as residents of the Houston area replace flood-damaged cars and trucks after Hurricane Harvey, sending their shares higher.

Volvo shares jump on truck maker's new margin target

STOCKHOLM (Reuters) - Shares in truck maker Volvo jumped more than 7 percent on Friday after the Swedish firm targeted the highest level of profitability since the sale of its car making arm to Ford nearly two decades ago.

Harvey Causing "Unprecedented" Disruptions To Supplies Of "Essential" Chemicals

The unprecedented destruction wrought by Hurricane Harvey will impact the US economy in ways may not be immediately apparent. Until recently, coverage of the storm's impact has focused on property damage and the impact on the energy industry. But in a story published Friday, Bloomberg explains the devastating impact the storm has had on Texas's chemicals industry, which is already causing supply-chain headaches for American manufacturers who're struggling to source the chemicals required to produce plastics and other components used in everything from milk jugs to car parts.

Indeed, if Texas's chemicals plants are closed for an extended period, production at a potentially huge number of American manufacturers to grind to a halt.

More than 60% of the US's production capacity for ethylene - one of the most important chemical building blocks for American manufacturers - has been taken offline by the storm, a development that could ripple across the US manufacturing industry.

"Texas alone produces nearly three quarters of the country's supply of one of the most basic chemical building blocks. Ethylene is the foundation for making plastics essential to U.S. consumer and industrial goods, feeding into car parts used by Detroit and diapers sold by Wal-Mart Stores Inc.

With Harvey's floods shutting down almost all the state's plants, 61 percent of U.S. ethylene capacity has been closed, according to PetroChemWire."

Ethylene, the gas given off by fruit as it ripens, occurs naturally, but it's also a crucial product of the $3.5 trillion global chemical industry, with facto ...

Establishment Turns on ANTIFA; It's Now Quite Fashionable to Condemn Them

Content originally published at iBankCoin.com

In the September issue of The Atlantic, the cosmopolitan political magazine for globalist elites, the topic of ANTIFA was broached. I wouldn't call their assessment of the alt-left group a rebuke, but instead a mild chastising.

Antifa believes it is pursuing the opposite of authoritarianism. Many of its activists oppose the very notion of a centralized state. But in the name of protecting the vulnerable, antifascists have granted themselves the authority to decide which Americans may publicly assemble and which may not. That authority rests on no democratic foundation. Unlike the politicians they revile, the men and women of antifa cannot be voted out of office. Generally, they don't even disclose their names.

Antifa's perceived legitimacy is inversely correlated with the government's. Which is why, in the Trump era, the movement is growing like never before. As the president derides and subverts liberal-democratic norms, progressives face a choice. They can recommit to the rules of fair play, and try to limit the president's corrosive effect, though they will often fail. Or they can, in revulsion or fear or righteous rage, try to deny racists and Trump supporters their political rights. From Middlebury to Berkeley to Portland, the latter approach is on the rise, especially among young people.

Revulsion, fear, and rage are understandable. But one thing is clear. The people preventing Republicans from safely assembling on the streets of Portland may consider themselves fierce opponents of the authoritarianism growing on the American right. In truth, however, they are its unlikeliest alli ...

Only In California: Sacramento To Pay Gang Bangers A Cash Stipend If They Stop Killing People

Authored by Mac Slavo via SHTFplan.com,

You're probably thinking this is a satirical report from The Onion.

We thought so, too.

But be assured it's very real, as reported by Fox 40 Sacramento:

After a violent weekend of suspected gang-related shootings, Tuesday the Sacramento City Council took action to reduce the bloodshed.

It approved a controversial program called Advance Peace, which offers cash stipends to gang members who remain peaceful.

"Let's get going on doing everything we can to save innocent lives," Steinberg said.

The program targets key gang agitators, offering them cash stipends to graduate school and remain peaceful. It already claims success in dropping crime rates in Richmond. But the city would still have to pay half the cost of the program, $1.5 million out of the city's general fund.

In the end, the council agreed to the program, voting 9-0 in favor.

Beca ...

Why it's nearly impossible to trade Currencies with success

(Elite E Services) — 9/1/2017 — As we have explained in our book Splitting Pennies - trading FX is nearly impossible; or at least, it may be possible for some time, but in the long run, it's a near certainty that without the use of professional algorithmic trading systems you will blow up your account. That's because of the dynamics of how FX works vs. other markets. In traditional markets, there is a bias towards positive movement; all CEOs of public companies want their stock to go higher. Bull traders, 401k investors, pension funds - basically everyone wants the stock market to go up. The short sellers aren't 'pessimists' so much as 'realists' that over-inflated P/E ratios are a sign for a crash from unrealistic levels. This is NOT the case in FX. Currency markets have opposing forces like 'gravity' and 'anti-gravity' - every country wants both a strong currency and a weak currency. This may seem illogical, welcome to the world of Currency! The reason is simple - exporters want a cheap currency and importers want a strong currency. Politicians usually favor a weak currency because it's good domestically and big business favors a strong currency (at least in the USA) because USA is a net importer. Let's have a look at today's U ...

A Jobs Pause That Refreshes

The labor market may be cooling just enough to put the Federal Reserve's mind at ease about slack in the economy, making further rate increases in 2017 much less likely.

Meg Whitman Has a Different Mess to Clean Up

Hewlett Packard Enterprise faces many challenges, including earnings next week and the question of why its CEO was looking elsewhere.

Wait Before Investing in Music Industry's Recovery

Upbeat results from the world's largest music company aren't enough to make parent company Vivendi an appealing investment.

Called to Account: Is Jack Daniel's maker Brown-Forman skirting SEC accounting rules?

Brown-Forman Corp., the maker of Jack Daniel's whiskey, reported better-than-expected earnings this week, but a closer look at the numbers has revealed a number of issues that have drawn scrutiny from the Securities and Exchange Commission for other companies.

Labor complaint filed against Tesla won't hurt the stock, analyst says

Ongoing tension between union of workers and Tesla is likely to persist, but there's no risk to the stock, analysts at Evercore ISI say.

The New York Post: Video shows Utah nurse screaming 'this is crazy' as she's arrested for doing her job

A nurse in Utah was forcibly arrested after she refused to draw blood from an unconscious patient, screaming "I've done nothing wrong" as an officer dragged her out of a hospital.

Earnings Summary for Today

Earnings Calendar provided by Investing.com.

leading Stock Positions

Leading Stock Quotes powered by Investing.com

Current Commodity Prices


Commodities are powered by Investing.com

Current Currency Crosses

The Forex Quotes are powered by Investing.com.



To contact me with questions, comments or constructive criticism is always encouraged and appreciated:

gary@econintersect.com

Click here for Historical Releases Listing










Make a Comment

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







search_box
Print this page or create a PDF file of this page
Print Friendly and PDF


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.







Keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government





























 navigate econintersect.com

Blogs

Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day
Weather

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2017 Econintersect LLC - all rights reserved