Europe

If asking traders where stocks and oil would be trading one day after a weekend in which the Doha OPEC meeting resulted in a spectacular failure, few if any would have said the S&P would be over 2,100, WTI would be back over $40 and the VIX would be about to drop to 12 and yet that is precisely where the the S&P500 is set to open today, hitting Goldman's year end target 8 months early, and oblivious of the latest batch of poor earnings news, this time from Intel and Netflix, both of which are sharply down overnight.

As a result of incorporating the Schengen Agreement (initially signed in 1985 between just five countries) into the Treaty of Amsterdam (signed in 1997, effective in 1999), Europeans and European businesses enjoy border-less travel in most countries that are part of the European Union. 

Or, at least they did.

In an effort to slow Syrian, Afghan, and Iraqi migrants traveling to Europe, many countries are now implementing border controls, a decision that could prove to have significant negative consequences for Europe's economy.

Submitted by Mac Slavo via SHTFPlan.com,

It's crazy pills time - no doubt... Doha was a dud and Morgan Stanley's 52% crash in earnings was better-than-expected...

Did you really expect anything else...?

By EconMatters

We reported last week that BP is facing a revolt from its shareholders over the salary of its CEO Bob Dudley. What happened was BP's Board approved an executive compensation package including a 20% raise in 2015 to nearly $20 million for its CEO Bob Dudley. Although we do not have the detail of other executive compensations, they must be pretty generous judging from Dudley's 20% raise.