Retail and Wholesales Inventories in April dropped 0.3% MoM - dramatically missing expectations of a 0.2% rise (no economists at all expected a drop in inventories).
Retail Weak...
And Wholesale weak...
The biggest driver of the drop was a 0.5% MoM drop in Motor Vehicle inventories.
This does not bode well for Q2 GDP...
In recent weeks it has been Japanese demand (and notable premia) that has driven the exponential rise in Bitcoin, but recently, as CoinTelegraph reports, it has been South Korea. Overenight saw Bitcoin prices explode once again, smashing through $2500, $2600, and $2700 for the first time...
As CoinTelegraph.com reports, South Korean Bitcoin traders are facing asking prices of $4,500 as the virtual currency’s price continues to surge.
Should I Invest My Fortune in Gold? Latest Research
PRESENTATION HIGHLIGHTS
The OPEC Vienna meeting has not officially concluded just yet, but moments ago a delegate told the WSJ and Reuters that the oil producing cartel had decided to do what had been widely telegraphed previously, and merely extend output cuts by nine months to March 2018. While the full quota breakdown has not been released yet, the cuts are likely to be shared again by a dozen non-members led by top oil producer Russia, while several nations like Iran and Nigeria will remain exempt from production caps.
It has been a seesion of violent, volatile gaps, starting with sharp gap up in S&P futures on Wednesday night, just around 10pm, which saw ES spike and rally to new all time highs on no news...