23Jan2020 Market Close: Wall Street Pares Losses On Positive Coronavirus News, DOW Closes Down 26 Points, WTI Crude Looks At The 54 Handle, Gold Settles At 1562, Virus Cases Soar In China

Bank regulator charges ex-Wells Fargo executives for role in sales scandal

Wells Fargo & Co’s regulator on Thursday announced it had brought civil charges against eight former executives, including former Chief Executive Officer John Stumpf, marking the first federal action against individuals for their role in the bank’s three-year sales practices scandal.

Oil falls 2% as specter of China virus threatens fuel demand

Oil prices fell 2% on Thursday on concern that the spread of a virus from China could lower fuel demand if it stunts economic growth, but losses were limited by a drawdown in U.S. crude inventories.

Dollar up vs euro as ECB holds rates steady, launches review

The dollar rose against the euro on Thursday after the European Central Bank held interest rates steady and launched a broad review of its policy that was likely to see new President Christine Lagarde redefine the ECB’s main goal and how to achieve it.

American, Southwest say demand helping competitors while 737 MAX sits parked

Healthy travel demand is cushioning results for American Airlines Group Inc and Southwest Airlines Co , the two said on Thursday, while warning they are losing customers as their Boeing 737 MAX jets remain parked in a global grounding.

Ex-Wells Fargo executives face civil charges, multimillion-dollar fines from U.S. bank regulator

A U.S. bank regulator announced Thursday that several senior former Wells Fargo executives face potential lifetime industry bans and millions of dollars in civil penalties for their roles in the bank’s long-running sales practices scandal.

Exclusive: Guyana opening search for oil firm to trade its crude – official

Guyana’s government next month plans to begin a search for an oil company or trading firm to market its share of the South American country’s crude, the director of the Department of Energy, Mark Bynoe, said in an interview.

Xerox nominates new HP board after buyout rebuffs

Xerox Holdings Corp said on Thursday it plans to nominate 11 independent candidates to HP Inc’s board, seeking to take control of the personal computer maker after several rejections of its $33.5 billion buyout offer.

Wall Street pares losses on positive coronavirus news

Wall Street struggled for direction on Thursday as investors digested mixed earnings and developing news about the coronavirus outbreak emanating from China.

French investigators to move ahead with Ghosn prosecution over palace party

French prosecutors investigating a party that former Renault-Nissan boss Carlos Ghosn threw for his wife at the sumptuous Versailles palace will in the next few weeks ask judges to examine the case, bringing a prosecution a step closer.

Stocks Surge Intraday ‘Despite’ Global Virus-nado & Plunging US Data

Stocks Surge Intraday ‘Despite’ Global Virus-nado & Plunging US Data

Judging by the intraday surge in US equity prices, you’d think that the Coronavirus was cured and everything was awesome…

But, it’s not!

Virus deaths increase. Virus cases soar in China (23 million quarantined), and Virus cases spread globally (from Singapore to Scotland).

The Future Of What’s Called “Capitalism”

The Future Of What’s Called “Capitalism”

Authored by Charles Hugh Smith via OfTwoMinds blog,

The psychotic instability will resolve itself when the illusory officially sanctioned “capitalism” implodes.

Sanders Targets ‘Black Voter-Betraying’ Biden As CNN Poll Shows Democratic Socialist Leading Pack

Sanders Targets ‘Black Voter-Betraying’ Biden As CNN Poll Shows Democratic Socialist Leading Pack

The brewing battle between Bernie Sanders and Joe Biden is heating up, as The Hill reports that the 78-year-old Vermont Senator is looking for a ‘one-on-one battle’ with the 77-year-old former Vice President.

Ron Paul: The Impeachment Trial Of President Trump Is “Pure Politicking”

Ron Paul: The Impeachment Trial Of President Trump Is “Pure Politicking”

Former United States Hose of Representatives member and presidential candidate Ron Paul is not too impressed with the ongoing impeachment trial of President Donald Trump in the US Senate. The impeachment trial is œpure politicking, œ declares Paul in a new interview at TRT World focused in the impeachment trial.

Why it’s time for India to rethink its inflation target regime

Why it’s time for India to rethink its inflation target regimeIs inflation targeting right for India, and does it focus on the right target?

Coming soon: A National Data Platform

Coming soon: A National Data PlatformNiti VC said that the NDAP will strive to ensure that the data is assured, consistent, coherent and credible.

Deadly China virus threatens global economy

Deadly China virus threatens global economyThe Chinese economy has for years been one of the world’s most powerful growth engines.

Key Words: Constitution is ‘not a suicide pact’ that leaves Americans ‘stuck’ with Trump, Nadler says

As House Democrats pressed their case in the second day of arguments in the impeachment trial of President Donald Trump, the head of the House Judiciary Committee said the country isn’t obligated by its defining legal document to keep him in power.

Bond Report: 2-year Treasury yield edges down to more than three-month low as virus jitters stir up haven demand

U.S. Treasury yields are falling on Thursday as the discovery of coronavirus victims in previously unaffected countries rattles investors.

Deep Dive: This money manager says growth stocks are still your best play, and he has the math to back it up

Tom Plumb of Wisconsin Capital Management says growth-stock valuations aren’t overly high and expects investors to keep paying up for the most successful companies.