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14Sep2017 Pre-Market Commentary: Wall Street To Open Lower, Core CPI Unchanged, WTI Crude Trading Higher In The High 49 Handle

Written by Gary

US stock market index futures were down (SPY -0.3%) after key inflation data reporting this morning which may impact the Federal Reserve's decision on the timing of another interest rate hike this year.

Here is the current market situation from CNN Money

European markets are lower today with shares in London off the most. The FTSE 100 is down 0.91% while Germany's DAX is off 0.23% and France's CAC 40 is lower by 0.03%.

What Is Moving the Markets

Here are the headlines moving the markets.

Futures flat ahead of key inflation data

(Reuters) - U.S. stock index futures were little changed on Thursday ahead of key inflation data that could impact the Federal Reserve's decision on the timing of another interest rate hike this year.

Trump administration orders purge of Kaspersky products from U.S. government

WASHINGTON (Reuters) - The Trump administration on Wednesday told U.S. government agencies to remove Kaspersky Lab products from their networks, saying it was concerned the Moscow-based cyber security firm was vulnerable to Kremlin influence and that using its anti-virus software could jeopardize national security.

Trump bars Chinese-backed firm from buying U.S. chipmaker Lattice

(Reuters) - U.S. President Donald Trump blocked a Chinese-backed private equity firm from buying a U.S.-based chipmaker on Wednesday, sending a clear signal to Beijing that Washington will oppose takeover deals that involve technologies with potential military applications.

Aramco says IPO on track after report it is preparing for possible delay

(Reuters) - Saudi Aramco's planned initial public offering remains on track, the company said on Thursday, after Bloomberg reported that the oil company is preparing contingency plans for a possible delay by a few months into 2019.

London Mayor gives nothing away on pending Uber license decision

LONDON (Reuters) - London Mayor Sadiq Khan declined to comment on Thursday whether taxi app Uber [UBER.UL] will have its license renewed ahead of a decision due by the end of month, saying that giving a running commentary could prompt legal action afterwards.

Global accounting body steps up attack on 'data dump' company statements

LONDON (Reuters) - Companies should produce more concise and crisper financial statements and annual reports, cutting out unnecessary "boilerplate" and "data dump" material, a global accounting body said on Thursday.

UK confirms Murdoch's Sky bid will be examined over broadcasting standards

LONDON (Reuters) - Rupert Murdoch's Twenty-First Century Fox Inc will have to prove it can uphold broadcasting standards in Britain to secure its $15 billion takeover of broadcaster Sky following concerns over his Fox News operations.

BlackRock says to absorb research costs under new EU rules

LONDON (Reuters) - BlackRock , the world's biggest asset manager, said on Thursday that it planned to absorb the costs of external research under new European Union rules due to go live in January 2018.

VW, China partners to recall 4.86 million vehicles over Takata airbags

BEIJING/SHANGHAI (Reuters) - Volkswagen AG and its Chinese joint ventures FAW-Volkswagen and SAIC Volkswagen will recall 4.86 million vehicles in China due to potential issues with Takata Corp air bags, a blow to the carmaker in the world's largest auto market.

Real Male Earnings Still Below 1973 Level: Household Income Gains Entirely Due To Rising Female Earnings

Authored by Mike Shedlock via,

The Census Bureau report Income and Poverty in the US 2016 shows real household income in the US hit a new record high of $59,039 in 2016, thanks to a methodology change and rising incomes of women.

Real, inflation adjusted, earnings of men are below where they were in 1973.

Men vs Women

Methodology Change Impact on Earnings

Methodology Change Impact on Poverty

New Record

The Wall Street Journal reports U.S. Household Incomes Rose in 2016 to New Record.

Bitcoin Crashes 35% In Chinese Trading: Second Largest Exchange To Halt All Trading

Yuan-denominated Bitcoin has crashed as much as 25% 35% in Chinese trading, plunging from 25,000 yuan to as a low of 16,000 on local exchanges BTCChina and OKCoin, following confirmation of last week's Caixin report that China is halting all cryptocurrency exchange trading. China's second largest exchange, BTC China, said that it would halt all trading on the platform beginning September 30, launching a liquidation panic.

In a statement released on Weibo, BTC China said that it would immediately stops accepting new account registrations on BTCChina Exchange. The decision was made after "carefully considering" Chinese regulatory bodies' Sept. 4 announcement on preventing risks associated with token fundraising. A google-translated version of the statement:

China will stop all trading business on September 30th

Dear Bitcoal Chinese users: According to the September 4 issue of the "People's Bank of China Central Office of the Ministry of Industry and Information Technology Ministry of Industry and Commerce, China Banking Regulatory Commission, China Securities Regulatory Commission on the prevention and treatment of the risk of the issuance of the currency," the spirit of the document, adhering to the protection of investment risks, the maximum protection of users

The principle of interest, Bit Coin Chinese team by careful discussion, is to make the following decision:

1. Bit currency China's digital asset trading platform today to stop the registration of new users;

2. September 30, 2017 Digital asset trading platform will stop all trading business.

Beitou China's pool (pool) and other business will not be affected, continue to nor ...

Oil Rich Venezuela Stops Accepting Dollars

Oil Rich Venezuela Stops Accepting Dollars

  • President Maduro ' Venezuela will create a basket of currencies to free us from the dollar,"

    Oil traders ordered to stop accepting U.S. dollar in exchange for crude oil

    Order comes following calls from Russia and China to find alternatives to current reserve system

    U.S. Dollar accounts for two-thirds of global trade

    Venezuela has over ten-times more oil than United States

    Super powers are gradually turning to gold to avoid using world's main reserve currency

    Are we seeing the beginning of the end for the U.S. dollar?

North Korea Threatens To "Sink" Japan With Nuclear Weapons, "Reduce The US To Ashes"

Less than a day after US officials observed North Korea moving mobile missile launchers and engaging in preparations for what appears to be another missile test, a North Korean state committee has stepped up its belligerent rhetoric, threatening to use nuclear weapons to "sink" Japan and reduce the US to "ashes and darkness" after the UN Security Council passed new sanctions against the isolated country earlier this week, Reuters reported. The North also accused the US of "cooking up" the latest restrictive measures against it and demanded that the US be beaten "to death as a stick is fit for a rabid dog.

These latest threats follow reports from last night that US satellites had spotted the North's military moving mobile missile launchers and preparing hard sites for what's expected to be the country's fourteenth missile test of 2017. The revelations followed reports of new commercial satellite imagery confirming an earlier analysis identifying numerous landslides throughout the Punggye-ri Nuclear Test Site on the slopes of Mt. Mantap (and beyond) resulting from North Korea's sixth nuclear test. The data suggest that the hydrogen bomb test was up to three times more powerful than previously believed.

Toshiba Is Running Out of Options for Its Chip Business

Toshiba's sale of its memory-chip business is turning into a saga, and it doesn't have time for that: A deal with Western Digital may be the best choice left.

China Slows Again: Hedge Your Growth Bets, But Don't Panic

Chinese investment and industrial production slowed sharply for the second month in a row in August, in a clear sign that weak July data was no heat-related fluke. Overextended commodity rallies are about to run back into reality, but there are still some reasons for guarded optimism.

Goldman Faces Fight in Finding New Trading Clients

Goldman Sachs' plan to turn around its trading operations depends on its ability to take market share from other banks.

August 2017 Import Sea Containers Continue Suggest Improving Economy, Exports Not Doing So Good

Written by Steven Hansen

The August month-over-month import container counts are still suggesting an improving USA economy, but exports suggest a sluggish global economy.

NerdWallet: Insurance companies are getting creative with disaster response

These are some of the things you can do with new technology and services from insurance companies when disaster strikes.

NerdWallet: The best ways for your teen to make money online

Here's what you need to know about six frequently mentioned moneymaking websites available to teens.

Europe Markets: European stocks seesaw after hawkish BOE message, weak China data

European stocks flip between gains and losses on Thursday after the Bank of England hints rates could rise in coming months, and disappointing data from China raised questions about the strength of the world's second-largest economy.

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