One day after Broadcom surprised markets, and the US public, when the $100 billion Singapore company announced it would legally relocated to the US, Bloomberg and the WSJ report that Broadcom is considering a $100 billion deal for Qualcomm. The two are linked.
The State of Delaware just took a historic step toward ensuring that US stock exchanges will soon be violently disrupted by blockchain technology - possibly to the extent of being rendered obsolete. CoinDesk reports that lawmakers in the state’s general assembly passed a law that makes explicit the right to trade stocks on a blockchain. Details of the bill are still emerging. One source indicated that the bill passed with near unanimity, with a single vote against.
The number of oil rigs in America has now risen for 23 straight weeks (and 50 of the last 52 weeks), up 11 to 758 in the last week - the highest since April 2015.
"It’s becoming bearish mania," said Phil Flynn, senior market analyst at Price Futures Group Inc. in Chicago. "If we keep going down, we’re not going to be adding rigs in a few months, we’re not going to be adding production"
And we suspect, given the lagged reaction to prices, that inflection point in rig counts is close...
Developing: Department of Correction Response Teams and the Delaware State Police are currently responding to a hostage situation at the James T. Vaughn Correctional Center (JTVCC) in Smyrna, Delaware. According to initial reports from Delaware Online, inmates of the correctional facility have taken over a building and are thought to be holding multiple officers hostage.
Rep. William Carson, a member of the House Corrections Committee, said he had been told it was an “apparent hostage situation.”
The Delaware police officers involved in the fatal shooting of a wounded wheelchair-bound man will not face any civil rights charges. Handicapped African-American man Jeremy McDole was literally shot out of his wheelchair and killed during a fatal encounter with four police corporals of the Wilmington Police Department in September 2015. Federal prosecutors say no civil rights violations occurred.