21Jun2017 Pre-Market Commentary: Wall Street Mostly Flat, Possibly Opening Higher In Face Of Crude Prices Climbing, US Dollar Off One Percent

Here is the current market situation from CNN Money

European markets are lower today with shares in France off the most. The CAC 40 is down 0.75% while London’s FTSE 100 is off 0.51% and Germany’s DAX is lower by 0.32%.

Uber CEO Travis Kalanick resigns under investor pressure

(Reuters) – Uber Technologies Inc Chief Executive Travis Kalanick, co-founder of one of the most influential technology companies of its generation, resigned on Tuesday under mounting pressure from investors over his leadership.

Stock futures lower as oil hovers near seven-month lows

(Reuters) – U.S. stock index futures were lower on Wednesday as oil prices hovered near seven-month lows and were headed for their largest slide in the first half of any year since 1997.

Toshiba picks Bain-Japan government group to buy chip unit, big hurdles remain

TOKYO (Reuters) – Toshiba Corp has chosen a consortium of Bain Capital and Japanese government investors as the preferred bidder for its chip business, aiming to seal a deal worth some $18 billion by next week as it scrambles for funds to cover massive losses.

Fed policymakers in tug-of-war on inflation, instability

SAN FRANCISCO/WASHINGTON (Reuters) – The outlook for inflation and the future of financial stability are emerging as dueling concerns at the heart of a debate at the U.S. central bank over how fast to proceed on future interest-rate hikes.

Oil falls as bulls discount OPEC cuts, set for worst H1 since 1997

LONDON (Reuters) – Oil steadied on Wednesday, paring earlier losses, but was set for its largest price slide in the first half of any year for the past two decades, as investors discounted evidence of strong compliance by major producers with a deal to cut global output.

Lockheed wins U.S. Air Force deal for radar threat simulators

PARIS (Reuters) – Lockheed Martin Corp said on Wednesday it had won a $104 million U.S. Air Force contract to develop, produce and field a threat simulator to train combat aircrews to recognize and deal with rapidly evolving threats, such as surface-to-air missiles.

China shares get MSCI nod in landmark moment for Beijing

NEW YORK/HONG KONG (Reuters) – China’s stocks took a major step toward global acceptance on Wednesday, finally winning a long campaign for inclusion in a leading emerging markets benchmark, in what was seen as a milestone for global investing.

Airbus scoffs at Boeing wins, plays down bounce-back hopes

PARIS (Reuters) – Airbus sales chief John Leahy scoffed at Boeing’s claims about the efficiency of a new 737 jet that has been grabbing orders and headlines at the Paris Airshow, but played down expectations of a last-minute comeback to win the event.

El Al to buy three more Boeing Dreamliners for $729 million

JERUSALEM (Reuters) – El Al Israel Airlines is buying three more Boeing 787 Dreamliners in a deal worth more than $729 million, firming up additional commitments made in 2015, the companies said on Wednesday.

After Shocking Saudi Shakeup “Not A Question Of If But When New Escalation With Iran Starts”

Two days ago, when reporting on the surprising “terrorist attempt” by Iran’s National Guard on a major Saudi offshore oilfiled (at least according to Saudi media), we said that “if the Saudi account of events is accurate, and if Iran is indeed preparing to take out Saudi oil infrastructure in retaliation or otherwise, the simmering cold war between Saudi Arabia and Iran is about to get very hot.” This in turn followed an earlier analysis on the ongoing Syrian war in which we said that “the next major regional conflict appears set to be between Saudi Arabia and Iran. All it needs is a catalyst.”

That catalyst, according to energy consultancy Petromatrix, may have been revealed overnight with the stunning Saudi royal shakeup in which the King announced he was stripping the current Crown Prince, his nephew Mohamed bin Nayef (MBF), of all titles and obligations, and replacing him with his son Mohamed bin Salman (MBS).

Summarizing the event, Petromatrix analyst Olivier Jakob wrote that “the day starts with the Saudi Crown Prince sent to retirement and replaced by the deputy Crown Prince Mohammed bin Salman (MBS). MBS was already the strong hand in Saudi Arabia, this latest development, and the purge that goes with it, confirms that he is the de-facto king of Saudi Arabia. Under his watch, Saudi Arabia has developed aggressive foreign policies (Yemen, Qatar…) and he has not been shy about making strong statements against Iran.”

The punchline: “with MBS now having greater control of Saudi Arabia and with Jared Kushner having a large control of the White House it is not really a question of if but rather of when a new escalation with Iran starts.”

Jakob wasn’t the only one to react strongly to the Saudi royal shakeup. B …

Susan Rice Unmasking Documents to Be ‘Locked Up’ in Obama Library for Next 5 Years

Content originally published at iBankCoin.com

Get in here deep staters and explain yourselves.

Do you remember when Rep. Nunes found out some information about the unmasking of key Trump personnel during and after the elections, which tossed former National Security Advisor, Susan Rice, on the barbie?

It was believed that Rice had some vital information that could shed some light on who Obama was spying on and why. The fact that Trump was, in fact, unmasked raised questions as to the veracity of the ‘incidental’ intelligence claims. Well, if you were hoping for Susan Rice to pay for her sins, exposing Obama to potential criminal charges for spying on Trump — too bad fuckers — that’s not going to happen.

See, the information is now locked up in the Obamas library and will not be released for another 5 years. Why is this the case? No one really knows, other than the fact that it’s in there and it is impossible to get out.

Judicial Watch is going apeshit over this.

“Documents from the Obama administration have been transferred to the Barack Obama Presidential Library. You may send your request to the Obama Library,” Powers wrote. “However, you should be aware that under the Presidential Records Act, presidential records remain closed to the public for five years after an administration has left office.”

Judicial Watch’s FOIA request sought to obtain documents related to Rice’s communications with intelligence officials on a range of issues, including any efforts by the Russian government to influence the 2016 presidential election and the hacking of Democratic National Committee and Clinton campaign compu …

Oil Shrugs As Iran Hints At More OPEC Cuts, Admits Surprise At US Shale Production

If at first you don’t succeed, try again… and if that fails, start jawboning about more production cuts again.

Iranian Oil Minister Bijan Namdar Zanganeh says on state radio that “we are consulting with OPEC member states to have them prepared to make a decision to make further cuts [to production].”

As is clear from the chart below the reaction is anything but exuberant

Zanganeh went to say…

“The US oil production increase was unpredictable and this increase is more than what OPEC members had foreseen”

“OPEC should wait a while and see how the market forms”

“But making a decision in this organization is very difficult because any decision will mean an output cut by the members.”

Somehow they saw US shale increasing production amid higher prices as “unpredictable”? Perhaps that’s why the market is unimpressed.

Caught On Video: Russian, NATO Jets In Near Standoff After F-16 Buzzes Defense Minister’s Airplane

A day after a Russian fighter allegedly flew within 5 feet of a US reconnaissance plane traveling over the Baltic Sea, Reuters reports that a NATO F-16 fighter jet returned the favor when it tried to improperly approach a plane carrying the Russian defense minister. The plane was traveling to the city of Kaliningrad, a Russian enclave along the Baltic coast, where Defense Minister Sergey Shoigu was scheduled to discuss security issues with defense officials on Wednesday. The NATO aircraft was warded off by a Russian Su-27 jet, according to RT.

In an accounting of the incident, Reuters notes that one of the Russian fighter jets escorting Shoigu’s plane had inserted itself between the defense minister’s plane and the NATO fighter and “tilted its wings from side to side to show the weapons it was carrying, Russian agencies said.” After that the F-16 promptly left the area.

A clip of the encounter was caught on tape by Russian journalists:

Kremlin spokesman Dmitry Peskov said that he has no information about the incident.

“It’s probably better to ask the Defense Ministry,” Peskov said in answer to journalists’ questions.

The latest provocative maneuver represents yet another escalation of tensions between the US and Russia. On M …

Rampaging Oil Bears Are Missing Half the Picture

Oil has a U.S. supply problem, but unlike in previous downturns, demand still looks firm—for now.

MSCI Inclusion Should Intensify Scrutiny of Chinese Shares

China has won a longed-for trophy with admission of its domestically-listed stocks to MSCI’s global benchmarks. Don’t hold your breath that it will lead to a more open market.

Barclays’s Criminal Conundrum: Plead or Fight?

U.K. authorities filed charges against Barclays and former top executives for fraud related to fee payments to Qatari backers when it received capital infusions in the teeth of the financial crisis. It is the first criminal case against a crisis-era bank chief.

The Wall Street Journal: Queen outlines U.K.’s Brexit goals in speech to hung parliament

Britain’s Queen Elizabeth II unveils the Conservative government’s legislative agenda, including the negotiating aim in Brexit talks, as the government still works to reach a policy-support deal with Northern Ireland lawmakers.

How the Republican health plan could hurt those with employer health insurance

Nearly 30 million people could lose important financial protections.

Avoid these chemicals found in everything from shampoo to kitchen counters: 200 scientists

The scientists call for the labeling of all products containing triclosan, triclocarban and other antimicrobials.