The markets sold off on the Fed announcement as it may not be a bazooka plan.
Growth and employment has slowed.
There is always a chance we get QE on top of this additional twist.
Comments »The markets sold off on the Fed announcement as it may not be a bazooka plan.
Growth and employment has slowed.
There is always a chance we get QE on top of this additional twist.
Comments »A US teenager’s survival after a spear was shot through his brain is a miracle, doctors say.
Yasser Lopez, 16, is recovering after he was accidentally hit with a spear gun by a friend during a Florida fishing trip this month.
Medics at Jackson Memorial Hospital in Miami said the 3ft (90cm) projectile entered his brain over his right eye and went out the back of his head.
He is now out of bed and speaking following a three-hour operation.
Medics said he was awake as he arrived at hospital, and became “agitated”.
After sedating the teenager, part of the stainless steel spear had to be severed with a mechanical cutter so he could fit into the CT scanner.
Prior: -0.191 million
Actual: a build of $2.8 million barrels vs consensus of -600k barrels
Distalates: a build of 900k barrels
Gasoline:
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Oil was flat to down overnight and WTI decidedly tanks into today’s Fed meeting. All spurred on by a lower dollar.
WTI is down 1.15% @ $83
Gold is down1.5% @ $1600
Comments »“Good news for those of you who live outside the U.S. and have been waiting for Amazon to take more of its mobile products outside its home market. Amazon today officially opened itsAppstore to international users — its first move outside the U.S. for the applications storefront, which launched in the U.S. last year. Developers from the UK, Germany, France, Italy and Spain are now being invited to submit apps to the store, with others coming to the party in the “near future,” according to a statement from the company — although one URL I’ve just tried,www.amazon.co.uk/appstore, still is not working. The move is another piece in the puzzle that will enable Amazon to begin selling its Kindle Fire tablet in markets outside the U.S.”
Comments »“Investors from JPMorgan Chase & Co. to BlackRock Inc. are trying to make money from the exploding popularity of iPads and increasing sales of hybrid cars by investing in producers of lithium for batteries.
Prices for the conductive metal, the lightest in the periodic table, have tripled since 2000 in a market now worth $1 billion a year as uses expand in vehicles, ceramics, electronics and lubricants. Apple Inc. (AAPL) (AAPL) and Toyota Motor Corp. (7203), maker of the Prius electric-gasoline car, have few alternatives as they pursue higher performance and mobility, leading Dahlman Rose & Co. analysts to forecast lithium demand will double by 2020.”
Comments »“A plurality of Americans now say they are better off than they were when President Barack Obama was inaugurated, providing a surprising lift to Obama’s re- election campaign despite troublesome economic news.
Forty-five percent of those surveyed in a Bloomberg National Poll say they are better off than at the beginning of 2009 compared with 36 percent who say they are worse off. In March, poll respondents split almost evenly on that question after having been decidedly negative since the aftermath of the worst recession in seven decades.”
Comments »“After seeing Facebook through its initial public offering and concluding his teaching of an undergraduate class at Stanford University this spring, Peter Thiel announced the closure of a funding round on a new investment vehicle.
Late Tuesday in San Francisco, the PayPal cofounder and Facebook’s first professional investorannounced the launch of Mithril Capital Management, a growth-stage venture firm with $402 million under management. Thiel, whose net worth was valued at $1.5 billion by FORBES in March, will serve as chair of the investment committee, which will also feature partners Ajay Royan and Jim O’Neill.”
Comments »“Richard Russell, author of the Dow Theory Letters, is sticking to his May call that a primary bear market signal had been confirmed. This is according to his interpretation of the Dow Theory.
He writes about what to expect in King World News:
The best way to describe the primary trend is to compare it with the great tide of the ocean. Once the tide turns down (as now) I compare it to a broad irresistible force. It’s a force that can’t be timed or described in detail.”
Comments »“Prince Salman bin Abdulaziz al-Saud, now the next in line to take over the kingdom of Saudi Arabia, was one of several defendants sued last year for his alleged support of the September 11, 2001, terrorist attacks.
“HONG KONG (MarketWatch) –- China Unicom Hong Kong Ltd. shares dropped in Wednesday trade after a drop in subscriber growth, with its two rivals also moving lower.
China Unicom said Wednesday it added a net 2.726 million 3G subscribers in May, a drop of 6.6% from the 2.918 million it added in April, with analysts attributing the result to weaker consumer spending amid a slowing economy.
Macquarie analysts said they would be watching monthly operating data from China Mobile Ltd. and China Telecom Corp. due out later Wednesday, to see if the slowing 3G growth was an isolated event or part of wider trend.”
Comments »A new Grecian formula…
“LONDON (MarketWatch) – A deal between the pro-bailout New Democracy party and socialist Pasok has been struck to form a new coalition government following parliamentary elections on Sunday, news reports said. Details of who the ministers will be are expected to be finalized later Wednesday, according to the reports. The BBC further said that the small Democratic Left party also is expected to be part of the governing coalition with New Democracy and Pasok. As the winner of the majority vote in the elections on Sunday, New Democracy had until Thursday to form a government; otherwise the antiausterity Syriza would have had a chance, as it came in second.”
Comments »House Republicans appear to be charging ahead with a high-drama contempt vote against Eric Holder, after GOP Rep. Darrell Issa said the attorney generally failed to produce the documents he requested for the probe into the Justice Department’s botched Fast and Furious operation.
The House Oversight and Government Reform Committee is scheduled to meet at 10 a.m. ET on Wednesday. Barring a last-minute document dump from Holder, lawmakers are poised to vote on a contempt resolution following debate this morning.
If the vote proceeds, Republicans have more than enough votes on committee to pass the resolution. However, Holder would not be considered to be held in contempt of Congress unless and until the full House approves the measure.
Issa and Holder have been going back and forth since last week over Issa’s request for documents. Issa, R-Calif., indicated a willingness to postpone the vote after Holder indicated a willingness to make compromises and supply some documents in response to House Republicans’ subpoena.
But Issa told reporters after a roughly 20-minute meeting with Holder Tuesday that the attorney general instead briefed them on the documents in lieu of delivering them.
Read more:
Comments »“NEW YORK (MarketWatch) — Navistar International Corp. NAV -5.51% said Wednesday it adopted a stockholder rights plan, or poison pill, to prevent a hostile takeover of the Lisle, Ill.-based maker of engines, military vehicles and recreational vehicles. “The plan is designed to deter coercive tactics including the accumulation of shares in the open market or through private transactions and to prevent an acquirer from gaining control of the company without offering a fair and adequate price to all of the company’s stockholders,” Navistar said.”
Comments »“The Commodity Futures Trading Commission, the main regular of derivatives (bets on bets), wants to extend Dodd-Frank regulations to the foreign branches and subsidiaries of Wall Street banks.
Horror of horrors, say the banks.
“If JPMorgan overseas operates under different rules than our foreign competitors,” warned Jamie Dimon, chair and CEO of JP Morgan, Wall Street would lose financial business to the banks of nations with fewer regulations, allowing “Deutsche Bank to make the better deal.”
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