10Jul2019 Midday Update: Wall Street Stocks Rise After Powell’s Dovish Testimony, WTI Rises Fractionally Higher, DOW Trending Down, Currently +60 Points, US Dollar Slips

Here is the current market situation from CNN Money

North and South American markets are mixed today. The Bovespa is up 1.82% while the S&P 500 gains 0.39%. The IPC is off 0.15%.

U.S. oil producers shut offshore output as storm forms in Gulf of Mexico

Anadarko Petroleum Corp has joined major U.S. oil producers shutting production and withdrawing staff from offshore platforms in the U.S. Gulf of Mexico ahead of a storm threatening oil-producing areas.

Exxon evacuating workers from Gulf of Mexico platforms as storm nears

Exxon Mobil Corp on Wednesday said it has removed non-essential staff from three U.S. Gulf of Mexico platforms, but expected a storm forming in the Gulf to have little effect on its oil and gas production.

British billionaire Dyson snaps up Singapore’s priciest penthouse

British billionaire and inventor of the bagless vacuum cleaner James Dyson has bought the most expensive apartment in Singapore, where his company plans to build an electric car.

S&P 500 hits 3,000 as Powell’s comments raise rate cut bets

The benchmark S&P 500 briefly crossed the 3,000 points mark for the first time on Wednesday, as bets for a sharp interest rate cut later this month were boosted by Federal Reserve chairman Jerome Powell’s dovish comments.

Stocks climb, dollar drops as Fed chair remarks boost rate-cut hopes

A broad index of world stock markets edged higher on Wednesday while the U.S. dollar fell as comments from Federal Reserve Chairman Jerome Powell bolstered expectations for an interest rate cut from the U.S. central bank this month.

Fed’s Powell says trade, global growth concerns continue to weigh on U.S. economy

Concerns about trade policy and a weak global economy “continue to weigh on the U.S. economic outlook” and the Federal Reserve stands ready to “act as appropriate” to sustain a decade-long expansion, Fed Chairman Jerome Powell said on Wednesday in remarks that could bolster expectations of an interest rate cut later this month.

Instant view: Powell – Fed stands ready to act “as appropriate” to sustain expansion

Concerns about trade policy and a weak global economy “continue to weigh on the U.S. economic outlook” and the Federal Reserve stands ready to “act as appropriate” to sustain a decade-long expansion, Fed Chairman Jerome Powell said on Wednesday in remarks that could bolster expectations of an interest rate cut later this month.

Facebook currency project ‘cannot go forward’ until concerns addressed: Powell

U.S. Federal Reserve Chairman Jerome Powell said on Wednesday that Facebook’s plan to build a digital currency called Libra “cannot go forward” until serious concerns were addressed.

Oil jumps 3% on U.S. crude stocks draw, Gulf of Mexico storm

Oil prices jumped 3% on Wednesday after U.S. crude inventories shrank more than expected and as major producers evacuated rigs in the Gulf of Mexico ahead of an expected storm.

Major Red Flags Are Causing Many To Doubt Whether Justice Will Be Done In The Epstein Sex Scandal

Authored by Michael Snyder via The Economic Collapse blog,

It won’t just be Jeffrey Epstein that will be on trial in the months ahead. As this scandal unfolds, the entire U.S. legal system will be on trial, and if justice does not prevail many Americans will lose faith in the system for good.

And of course the rest of the world will be watching too, and so what are they supposed to think about us if we are not able to put Epstein and all of his dirty friends in prison? As I detailed in part three of this series, the evidence against Jeffrey Epstein and his partners in crime is mounting. If Jeffrey Epstein is put behind bars that will be a step in the right direction, but it will not nearly be enough.

At this point it is exceedingly clear to everyone in America that many of Epstein’s famous friends also regularly had sex with underage girls, and they must be held accountable. In my most recent book I talked about how fundamentally broken our current legal system is, but if federal prosecutors are able to nail Epstein and all of his elite friends that were involved in these sex crimes, I might have to reconsider my position.

Democratic Donor Sued For Human Trafficking, Revenge Porn After 2nd Man Dies In His Home

Last time we checked in with Democratic megadonor Ed Buck, a young man had just died in his home, the second similarly suspicious death in under two years. Buck, a longtime Dem donor, was investigated in the first death, but was never charged, even after the LA Times published excerpts from the deceased victim’s diary claiming Buck got him hooked on the drugs that killed him.

And now, the family of the first victim who died in Buck’s apartment has amended a lawsuit against the wealthy businessman to accuse him of sex trafficking and revenge porn, CBS News reports. The family initially filed a wrongful death lawsuit against Buck after the DA declined to prosecute him in the death.

Are Investors Grossly Underestimating The Fed?

Authored by Michael Lebowitz via RealInvestmentAdvice.com,

If you think the Fed may only lower rates by .50 or even .75, you may be grossly underestimating them.

Merkel Hit With 3rd Bout Of Bizarre Public-Shaking, Says She Is “Feeling Very Good”

For the third time in mere weeks, German Chancellor Angela Merkel was seen visibly shaking during another high-profile diplomatic meeting, this time as she welcomed Finnish Prime Minister Antti Rinne as the countries’ anthems played.

Behind Aadhaar Bill passage, a clause that govt quietly slipped in

Behind Aadhaar Bill passage, a clause that govt quietly slipped inWhile moving the Bill in the Lok Sabha last week, the government slipped in an extra clause Section 5A

India’s war on black money gets a major boost

India’s war on black money gets a major boostSwitzerland will share account numbers, credit balance and other info with India by September this year.

More pain ahead for India’s car market

More pain ahead for India’s car marketBarring flattish sales witnessed in October last year, sales have fallen every month in almost a year now.

May 2018 Headline Wholesale Sales Inproved?

Written by Steven Hansen

The headlines say wholesale sales improved month-over-month with inventory levels very elevated. Our analysis shows a deceleration of the rate of growth for the rolling averages.

Outside the Box: These 2 chip stocks are breaking out on technical charts

Harry Boxer looks at four stocks moving on news and technical momentum.

Market Snapshot: Stocks rise after dovish testimony by Fed Chairman Powell

Stocks shake off pre-market losses to rise early Wednesday, after the release of testimony by Federal Reserve Chairman Jerome Powell, before Congress

NewsWatch: Weak U.S. data could trigger 10% stock plunge, says strategist

Looking for surprises? Watch the data not the monetary policy says our call of the day from Elia Lattuga, the deputy head of strategy research at UniCredit.