Via Footnoted.com,
At the risk of stating the obvious, it’s been a pretty tough week for LendingClub. In the six days since announcing on May 9 that CEO Renaud Laplanche was suddenly stepping down, the stock has dropped nearly 60%.
So one might understand why executives there might need some bucking up. Thankfully, that was delivered yesterday in the 10-Q that the company filed late yesterday, clear as day on pg. 68! Here’s a snip:
Medical professionals led by a former president of the Irish Medical Organisation are to call for a permanent ban of fracking in Ireland. Concerned Health Professionals Ireland (CHPI) involves more than a dozen health practitioners who say there is overwhelming evidence that fracking is dangerous for human health. The Irish Times reports: Dr Paula Gilvarry, a retired GP based in Co Sligo, said the evidence was now “extremely strong” that fracking affects human health.
Presented with no comment... ok one word - "seriously!"
Because there's only one way to stop markets falling... stop people trading!!
2 NYSE "glitches" and 2 US equity market ramps...
Source: NYSE
Pure coincidence we are sure.
Previously we documented that as a result of the still low oil prices, largely a result of Saudi Arabian strategy to put high cost producers out of business and to remove excess supply, none other than Saudi Arabia has been substantially impacted, with the result being dramatic state budget, a sharp economic slowdown and mass worker layoffs.
Just three weeks ago we reported that the biggest construction conglomerate in the middle east, the Saudi Binladin Group had announced it would layoff 50,000 workers ot a quarter of its workforce, slammed by the weak economy.
Following API's smaller than expected draw overnight, DOE data showed an unexpedted 1.31m barrel build (3.5m draw expectations). This was offset by considerably bigger than expected draws in Gasoline and Distillates and Cushing oinventories rose less than expected. Crude production also fell once again, to its lowest since Sept 2014. The initial kneejerk was a mini-flash-crash in crude prices.. but that was rapidly bid back to unch...
API: