28Jun2019 Market Close: Wall Street Ended Like A Rollercoaster Beginning Its First Run Downward, DOW Finally Closed Up 73 Points, This Is One Weekend I Wouldn’t Want To Have Speculative Position

Oil prices fall, but post weekly gain ahead of G20 talks, OPEC

Oil prices fell on Friday but posted their second straight week of gains ahead of trade talks between the U.S. and Chinese presidents this weekend, and on widely expected production cuts from OPEC on Monday.

Trump prepares for ‘productive’ talks with Xi on trade war

U.S. President Donald Trump on Friday said he hoped for productive talks with Chinese President Xi Jinping on a trade war that is casting a shadow on global growth, but said he had not made any promises about a reprieve from escalating tariffs.

Best-case scenario for Trump-Xi talks is resumption of trade negotiations: Pence adviser

The best-case scenario for talks on Saturday between U.S. President Donald Trump and Chinese President Xi Jinping is a resumption of trade negotiations, a top adviser to Vice President Mike Pence said on Friday.

Explainer: How U.S.-China talks differ from any other trade negotiations

U.S. President Donald Trump and Chinese President Xi Jinping are set for a high-stakes meeting in Japan on Saturday that could salvage faltering trade talks or plunge the world’s two largest economies into a deeper, costlier trade war.

U.S. dominates second quarter global M&A as mega deals roll on

Mega deals set the pace for mergers and acquisitions (M&A) globally in the second quarter of 2019, as large U.S. companies defied trade row jitters and seized on strong equity and debt capital markets to agree on transformative combinations.

Shares in big banks climb as Fed approves capital plans

Shares in the S&P 500 bank index rose about 2% on Friday after the U.S. Federal Reserve approved the capital plans of the biggest U.S. banks, giving them a clean bill of health.

Explainer: U.S.-China trade war – the levers each country can pull

President Donald Trump and Chinese President Xi Jinping will seek to revive talks to end a trade war when they meet on Saturday on the sidelines of a Group of 20 summit in Japan.

Stocks advance to cap first half as G20 eyed

A gauge of global stocks advanced on Friday ahead of a meeting on trade between U.S. President Donald Trump and Chinese President Xi Jinping, as global equities were poised to close out their best first half since 1997.

Halfway through 2019, tech leads on Wall Street

Technology stocks are Wall Street’s top performers as 2019 hits half-way, with investors betting on lower interest rates, although Apple and chipmakers face turbulence related to the U.S.-China trade war.

Powell Pivot Prompts Dow’s Greatest June Gains In 81 Years

Well that was a month… and good luck if you’re long (or short) into this weekend’s headline horrors…

Global Bond and Stock Markets added $4.5 trillion to global wealth in June

Trump To Unleash Hell On Europe After EU Announces Channel To Circumvent SWIFT And Iran Sanctions Is Now Operational

With the world waiting for the first headlines from the Trump-Xi meeting, the most important and unexpected news of the day hit moments ago, when Europe announced that the special trade channel, Instex, that will allow European firms to avoid SWIFT and bypass American sanctions on Iran, is now operational.

Following a meeting between the countries who singed the Iran nuclear deal, also known as the Joint Comprehensive Plan of Action (JCPOA), which was ditched by US, French, British and German officials said the trade mechanism which was proposed last summer and called Instex, is now operational.

As a reminder, last September, in order to maintain a financial relationship with Iran that can not be vetoed by the US, Europe unveiled a “Special Purpose Vehicle” to bypass SWIFT. The mechanism would facilitate transactions between European and Iranian companies, while preventing the US from vetoing the transactions and pursuing punitive measures on those companies and states that defied Trump. The payment balancing system will allow companies in Europe to buy Iranian goods, and vice-versa, without actual money-transfers between European and Iranian banks.

The statement came after the remaining signatures of JCPOA gathered in Vienna for a meeting that Iranian ministry spokesman Abbas Mousavi called “the last chance for the remaining parties…to gather and see how they can meet their commitments towards Iran.”

Crops Devastated As More Ferocious Storms Pound The Midwest: “Hard To Get Your Head Around Just How Bad It Is”

Authored by Michael Snyder via The End of The American dream,

It has gotten to the point where maybe we should just expect violent storms to hammer the Midwest every single day of the week. Highly destructive storms ripped through the Midwest on Tuesday, it happened again on Wednesday, and the forecast calls for more powerful storms on Thursday. This growing season has been a complete and utter nightmare for U.S. farmers, and each day it just gets even worse. Millions of acres will not be planted at all this year, but an even bigger problem is that fact that crops are dramatically failing on tens of millions of acres that were actually planted in time. Every major storm does even more damage, and that is why what we have witnessed so far this week has been so alarming.

Goldman Beats Fed By Cutting Rates On Its Online Saving Account First

For the past two years Goldman’s retail bank group, also known as Marcus, would gleefully declare periodic increases on the interest rate applicable to the Goldman Online Savings Account, usually matching raises in the Fed Funds rate. That all changed yesterday afternoon when Marcus sent out the following email to clients:

It’ll be business as usual for Big 4 despite cap on non-audit work

It’ll be business as usual for Big 4 despite cap on non-audit workTax will be hit the most because firms club tax advisory and audit to complete compliance work efficiently.

When faith cost thousands their life savings

When faith cost thousands their life savingsThe RBI had sounded a warning about IMA in 2016 for collecting unauthorised deposits from the public.

Budget recap: Meet the men who made India

Budget recap: Meet the men who made IndiaIndia is the fastest-growing trillion-dollar economy and the 6th-largest with a nominal GDP of $2.61 tn.

Yields on 10-year Treasury note settle below 2%, dipping lower ahead of U.S.-China trade talks

Trump says he hopes for “productive” meetings with Xi

Key Words: The Dalai Lama says that if his successor is female, she should be ‘attractive’

The spiritual leader also said Trump lacks ‘moral principle’

Commodities Corner: OPEC readies for ‘critical’ meeting, looks to extend oil output cuts

The meeting of the Organization of the Petroleum Exporting Countries and its allies next week comes at a particularly important and volatile time for oil. Prices have been supported by major producers’ output cuts, growing tensions in the Middle East, but also pressured by forecasts of a slowdown in global demand.