20Nov2019 Market Close: Wall Street Recovered From The Severe Fall To The Original Down Trend Line, DOW Closed Down 114 Points, Nasdaq Closed Down -0.5%, Crude Regains Session Losses

Fed minutes show rates on hold, little hurry to change course

A divided Federal Reserve that decided to hit pause in its easing cycle following a rate cut in October signaled in minutes of last month’s meeting it was in no hurry to reassess the path of interest rates.

Ukraine widens probe against Burisma founder to embezzlement of state funds

Ukraine has widened its investigation into the founder of energy company Burisma to include suspicion of embezzling state funds, Prosecutor General Ruslan Ryaboshapka said on Wednesday.

Mitsubishi Heavy Industries has skills to build Airbus wings: CEO

Mitsubishi Heavy Industries Ltd is confident that it has the technical and production know-how to build high-tech wings for Airbus SE jetliners, the chief executive of the Japanese conglomerate said on Wednesday.

Shares slide on U.S.-China spat over Hong Kong, dollar gains

Global stock markets stumbled and the dollar gained on Wednesday after China blasted a U.S. Senate bill aimed at protecting human rights in Hong Kong, the latest obstacle to easing tensions in a prolonged Sino-U.S. trade war that has dented growth worldwide.

Oil jumps over 2% after U.S. inventory data, Russia OPEC comments

Oil prices surged more than 2% on Wednesday after a better-than-expected U.S. crude inventories report and as Russia said it would continue its cooperation with OPEC to keep the global oil market balanced.

‘Phase One’ U.S.-China trade deal may not be completed this year: trade sources

Completion of a “phase one” U.S.-China trade deal could slide into next year, trade experts and people close to the White House said, as Beijing presses for more extensive tariff rollbacks, and the Trump administration counters with heightened demands of its own.

GM sues Fiat Chrysler, alleging union bribery scheme cost it billions

General Motors Co on Wednesday filed a racketeering lawsuit against Fiat Chrysler Automobiles NV , alleging that its rival bribed United Auto Workers (UAW) union officials over many years to corrupt the bargaining process and gain advantages, costing GM billions of dollars.

Wall Street drops on trade deal delay concerns

Wall Street’s main indexes were lower on Wednesday on concerns that a “phase one” trade deal between Washington and Beijing may not be completed this year, and minutes from the Federal Reserve’s October policy meeting offered little help.

White House Deputy Press Secretary: progress being made on China phase-one deal text – Fox

White House Deputy Press Secretary Judd Deere has said that talks with China are continuing and that there is progress on the text of a phase-one trade deal, Fox News reported on Wednesday.

Stocks & Bond Yields Tumble As China Trade Deal Hope Fades

Stocks & Bond Yields Tumble As China Trade Deal Hope Fades

The so-called “resilience” of US equities overnight as they shrugged off the Washington Democracy Bill vote and the China retaliation threat is more a signal of ignorance (or total complacency) as every negative trade headline was met with a sudden wall of bids to try and get back to even…

Uber To Record Audio During Rides Amid Spate Of Sexual Assaults

Uber To Record Audio During Rides Amid Spate Of Sexual Assaults

Uber is planning recording audio from rides in the United States as part of a new security initiative, amid rising safety concerns over drivers who have sexually assaulted passengers, according to the Washington Post.

US Relations With China Were Just Destroyed, And Nothing Will Ever Be The Same Again

US Relations With China Were Just Destroyed, And Nothing Will Ever Be The Same Again

Authored by Michael Snyder via TheMostImportantNews.com,

Our relationship with China just went from bad to worse, and most Americans don’t even realize that we just witnessed one of the most critical foreign policy decisions of this century. The U.S. Senate just unanimously passed the œHong Kong Human Rights and Democracy Act of 2019 , and the Chinese are absolutely seething with anger. Violent protests have been rocking Hong Kong for months, and the Chinese have repeatedly accused the United States of being behind the protests. Whether that is true or not, the U.S. Senate has openly sided with the protesters by passing this bill, and there is no turning back now.

Oil’s Most Legendary Trader And Permabull Turns Bearish

Oil’s Most Legendary Trader And Permabull Turns Bearish

For virtually all of his career, legendary oil trader Andy Hall was a permabull when it comes to the price of oil.

Modi govt throws battered telcos a Rs 42,000-cr lifeline

Modi govt throws battered telcos a Rs 42,000-cr lifelineThe deferred amounts to be paid by telcos will be without increase in the time period, the FM said.

Govt to sell stake in BPCL, 4 other PSUs

Govt to sell stake in BPCL, 4 other PSUsThe government will sell its 53.29% stake in BPCL after taking out Numaligarh refinery from its portfolio.

Why govt and NSSO should not hide data

Why govt and NSSO should not hide dataNow, the Modi government has announced not to release the 2017-18 NSSO survey. These are bad practices.

30 October 2019 FOMC Meeting Minutes: Inflation To Run Under the Fed Target for Some Time

— this post authored by Steven Hansen

The 30 October 2019 meeting statement presented the actions taken. This post covers the economic discussion during this FOMC meeting between the members. An interesting quote:

… Weakness in the global economy, perceptions of downside risks to growth, and subdued global inflation pressures were cited as factors tilting inflation risk to the downside, and a few participants commented that they expected inflation to run below 2 percent for some time ….

This state makes the most tax revenue from sports betting ” and it’s not Nevada

People spend more money on sports bets in Nevada, but New Jersey taxes the bets at a much higher rate.

With six fewer holiday season shopping days there’s no time for impulse purchases, which is bad for retail

This year’s holiday season has fewer shopping days, which could be bad for retailers don’t have speed and convenience capabilities.

Medill News Service: Perry pledges cash infusion for energy research President Trump tried to end

Outgoing U.S. Energy Secretary Rick Perry, in one of his final acts, pledged millions of dollars to so-called innovation-incubator program that President Trump once sought to eliminate.