The market was waiting for the DOJ to announce the long-awaited settlement with Deutsche Bank today. Instead, it got news of a surprise lawsuit filed by the DOJ which sued Barclays after failing to settle a long-running probe into the UK bank's involvement in pre-crisis mortgage fraud. Deutsche Bank and Credit Suisse are in settlement negotiations with the DOJ over similar claims.
Submitted by Jim Quinn via The Burning Platform blog,
Look at these god damned retail stocks. They're crashing I tell ya, crashing!
But no one really cares anymore. Investors know the risks associated with hiking rates into a weak economy, but are consciously choosing to ignore said risks in order to partake in the grand experiment of a centrally planned global economy. We need slave labor, lots of it, and plenty of open borders.
TWO DOWN DAYS IN A ROW...
The Dow Jones Industrial Average shocked investors today as it suffered a second consecutive day of losses - the first time since before the election...
Submitted by Jeffrey Snider via Alhambra Investment Partners,