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14Nov2017 Market Update: Wall Street Pulled Lower By GE, Energy Shares, WTI Crude Slides To The Mid 56 Handle

Written by Gary

US stock indexes are lower today (SPY -0.2%) after GE plunged for the second straight day and a drop in oil prices that hit energy stocks.


Here is the current market situation from CNN Money

What Is Moving the Markets

Here are the headlines moving the markets.

Wall Street pulled lower by GE, energy shares

(Reuters) - U.S. stock indexes were lower on Tuesday after GE plunged for the second straight day and a drop in oil prices hit energy stocks.

SoftBank says considering investment in Uber but no final agreement reached

TOKYO (Reuters) - Japan's SoftBank Group Corp said on Tuesday it was considering investing in Uber Technologies Inc but there was no final agreement at this stage.

Buffalo Wild Wings shares soar on report of takeover bid

(Reuters) - Buffalo Wild Wings' shares rose nearly 26 percent in early trading on Tuesday, a day after a report said the company received a $2.3-billion takeover bid from private-equity firm Roark Capital Group.

U.S. financial giants create consortium to vet third party suppliers

(Reuters) - Bank of America Corp , JPMorgan Chase & Co , Wells Fargo & Co and American Express Co , have created a company called TruSight to standardize the work of vetting third party suppliers and partners, according to an announcement Tuesday by the newly-formed consortium.

Goldman can hit $13 billion in new consumer loans in three years: CFO

(Reuters) - Goldman Sachs Group Inc can hit $13 billion in new consumer loans in the next three years through its Marcus online lending business, Chief Financial Officer Marty Chavez said on Tuesday.

China's foreign ownership cap change may stir interest in smaller banks: Fitch

BEIJING (Reuters) - Beijing's landmark move to ease or remove limits on foreign ownership in China's financial sector will likely stoke acquisition interest in smaller banks, Fitch Ratings said.

Home Depot lifts full-year forecasts as hurricanes spur demand

(Reuters) - Home Depot Inc , the largest U.S. home improvement chain, on Tuesday raised its full-year profit and sales forecast after Hurricanes Harvey and Irma spurred demand for generators, flashlights and rebuilding materials.

GE says plans new wind farms in Finland, Sweden

HELSINKI (Reuters) - General Electric's power generation unit is planning to build new wind farms in Finland and Sweden, a company executive said on Tuesday.

Deutsche Bank CEO meets with chief of big shareholder HNA: WSJ

FRANKFURT (Reuters) - Deutsche Bank's chief executive officer John Cryan has met with the chief of its major shareholder China's HNA, The Wall Street Journal reported on Tuesday.

Buchanan: "Reining In The Rogue Royal Of Arabia"

Authored by Patrick Buchanan via Buchanan.org,

If the crown prince of Saudi Arabia has in mind a war with Iran, President Trump should disabuse his royal highness of any notion that America would be doing his fighting for him.

Mohammed bin Salman, or MBS, the 32-year-old son of the aging and ailing King Salman, is making too many enemies for his own good, or for ours.

Pledging to Westernize Saudi Arabia, he has antagonized the clerical establishment. Among the 200 Saudis he just had arrested for criminal corruption are 11 princes, the head of the National Guard, the governor of Riyadh, and the famed investor Prince Alwaleed bin Talal.

The Saudi tradition of consensus collective rule is being trashed.

MBS is said to be pushing for an abdication by his father and his early assumption of the throne.

He has begun to exhibit the familiar traits of an ambitious 21st-century autocrat in the mold of President Recep Tayyip Erdogan of Turkey.

Yet his foreign adventures are all proving to be debacles.

The rebels the Saudis backed in Syria's civil war were routed. The war on the Houthi rebels in Yemen, of which MBS is architect, has proven to be a Saudi Vietnam and a human rights catastrophe.

The crown prince persuaded Egypt, Bahrain and the UAE to expel Qatar from the Sunni Arab community for aiding terrorists, but he has failed to choke the tiny country into submission.

Last week, MBS ordered Lebanese Prime Minister Saad Hariri to Riyadh, where Hariri pub ...

30 Million Americans Were Just Diagnosed With High Blood Pressure, Here's Why...

30 million Americans who woke perfectly healthy yesterday morning are now suddenly in need of expensive hypertension treatments after the American Heart Association and the American College of Cardiology decided to lower the definition of "high blood pressure" to 130/80 from the previous trigger of 140/90. According to Reuters, the change means that nearly 50% of American adults, or roughly 100 million people, now suffer from high blood pressure.

Americans with blood pressure of 130/80 or higher should be treated, down from the previous trigger of 140/90, according to new guidelines announced on Monday by the American Heart Association and the American College of Cardiology.

At the new cutoff, around 46 percent, or more than 103 million, of American adults are considered to have high blood pressure, compared with an estimated 72 million under the previous guidelines in place since 2003.

High blood pressure accounts for the second-largest number of preventable heart disease and stroke deaths in the United States, second only to smoking.

A large, government-sponsored study of hypertension patients aged 50 and older showed in 2015 that death from heart-related causes fell 43 percent and heart failure rates dropped 38 percent when their systolic blood pressure was lowered below 120 versus those taken to a target of under 140.

But patients in the 120 systolic blood pressure group had a higher rate of kidney injury or failure, as well as fainting.

Sessions Rages, White House Leaks "Have Reached Epidemic Proportions"

While tesifying today to the House Judiciary Committee, Attorney General Jeff Sessions told the politicians that the Justice Department currently has 27 open investigations into leaks underway.

"We had about nine open investigations of classified leaks in the last three years," Sessions said.

"We have 27 investigations open today. We intend to get to the bottom of these leaks.

I think it...has reached epidemic proportions. It cannot be allowed to continue and we will do our best effort to ensure it does not continue."

As DailyCaller's Alex Pfeifer notes, President Donald Trump has been enraged about the amount of national security leaks during his administration. These leaks have included transcripts of his phone calls with foreign leaders.

This admission comes just hours after Donald Trump Jr's DM discussions with WikiLeaks were leaked to The Altlantic - having only been provided by his lawyer to congress - after which he released the entire chain...

Here is the entire chain of ...

White House Considering Mohamed El-Erian For Fed Vice Chair

In what will come as a big surprise to many Fed watchers, moments ago the WSJ reported that among other candidates, Mohamed El-Erian, former deputy director of the IMF, former head of the Harvard Management Company, Bill Gross' former partner at Pimco until the duo's infamous falling out, and one of the few people who - together with John Taylor - actually deserve the nomination, is being considered for the Fed Vice Chairman role. DJ also added that Kansas banking regulator Michelle Bowman is also being considered. From the WSJ:

The White House is considering economist Mohamed El-Erian as one of several candidates to potentially serve as the Federal Reserve's vice chairman, according to a person familiar with the matter.

The process of selecting the Fed's No. 2 official began this month after President Donald Trump nominated Fed governor Jerome Powell to succeed Fed Chairwoman Janet Yellen when her term expires next February.

The WSJ adds that there is a broad range of candidates under consideration for post, and that the White House will focus on monetary policy experience for post.

Reportedly, the White House is also considering the nomination of a Kansas banking regulator for a seat on the Fed's board of governors, according to two people familiar with the matter.

Michelle Bowman was confirmed as the Kansas bank commissioner in January and would be nominated to a spot reserved for a community banker or regulator of community banks. In 2014, Congress reserved one of seven seats on the Fed's board for a community banker and the position h ...

The Real 'War on Coal' Is in China

China's president Xi Jinping has made a commitment to a "better" - not just richer - life for Chinese citizens. That, combined with slowing industry in China, spells trouble for the dirtiest type of fuel.

Chips for Electric Cars Put Infineon in Fast Lane

How do you justify an investment in an expensive stock? By setting it against peers that look even pricier, like Tesla. Such comparisons, together with takeover rumors, could keep Infineon's stock buoyant.

With a Tweak, Earnings Look Even Better

Take away the losses that insurers suffered from hurricanes and earthquakes, and S&P 500 earnings grew at a double-digit rate in the third quarter.

October 2017 Producer Price Final Demand Year-over-Year Inflation Again Increased

Written by Steven Hansen

The Producer Price Index year-over-year inflation grew from 2.6 % to 2.8 %.

7 ways target-date funds could be better

This great investing tool needs some improvements.

New film exposes how for-profit colleges exploit veterans and single moms

Fail State documents the "well-oiled machine" that's allowed for-profit colleges to proliferate.

The Ratings Game: GE's stock plunges again as another analyst abandons bullish view

GE's stock fell further to a 5 1/2-year low, as new CEO John Flannery's turnaround plan fell flat, leading another analyst to abandon their bullish view.

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