S&P futures were little changed at 2,425, ignoring the N.Korea tensions of the past two days which will likely be a major topic in the upcoming G-20 summit, as European stocks fluctuate and Asian markets advance. Crude oil fell, snapping the longest winning streak this year, as Russia said it opposed any proposal to deepen OPEC-led production cuts.
Authored by Tsvetana Paraskova via OilPrice.com,
The leading commodities trader among global investment banks, Goldman Sachs, is assessing the future direction of its commodities business, following the worst start to a year in more than a decade, Bloomberg reported on Monday, citing people with knowledge of an informal internal review.
The fate of the commodities business was one of the items on the agenda of a recent board meeting in London in late June, Bloomberg’s sources said on the condition of anonymity.
Authored by Michael Lebowitz via 720Global.com,
The Federal Reserve Act, as mandated by Congress, established a dual mandate to guide the Federal Reserve (Fed) in setting monetary policy. Price stability, one of the mandates, benefits economic growth as it allows investors, corporations, and consumers the ability to better predict future prices and therefore allocate investments and spending in a more optimal manner.
Precariously overstretched equity valuations and the purportedly “data dependent” Federal Reserve’s insistence on raising interest rates could bring about the next market correction as soon as October, former Congressman Ron Paul said during a recent appearance on CNBC's "Futures Now."
Yesterday we noted that auto investors celebrated the fact that, while auto sales were down massively year-over-year (to the tune of nearly 6% for the Detroit 3), June figures were 'less bad' than expected, so 'good'. All of which sparked even more 'irrational exuberance' among OEM equity owners and sent Ford/GM shares soaring.