Iraq's military has effectively gained control of major assets and government buildings in Kirkuk city, and is now set to fully pacify it after overnight clashes at a moment when oil prices rose toward a six month high as the conflict now threatens output.
Richard Sylla: 70% to 80% Chance of Another Global Financial Crisis
Written by Peter Diekmeyer, Sprott Money News
When Janet Yellen, Chairman of the US Federal Reserve, said in June that she does not expect another financial crisis in our lifetime, eyebrows were raised.
Thirty years ago this week, the stock market took a massive nosedive, a crash that came to be known as Black Monday. Many investors were destroyed by this one day's collapse, but, as we noted earlier, some survived (and even fewer thrived).
A few investors said they predicted the crash, including one familiar name: Donald Trump.
While now-President Trump is crowing about the surging stock market almost every day (for instance today)...
Today, the South Korean and U.S. navies kicked off massive combined drills off the coast of the Korean peninsula amid heightened tensions, a training exercise which North Korea has warned may prompt another ballistic missile launch potentially to coincide with the launch of the Chinese 19th Party Congress on October 18. The two allies plan to continue the Maritime Counter Special Operations Exercise (MCSOFEX) through Friday in the East Sea and the Yellow Sea.
World stocks and commodities rose on Monday, boosted by upbeat Chinese data, while U.S. oil futures jumped to a near six-month high as escalating tensions between the Iraqi government and Kurdish forces threatened supply. Global markets digested the large amount of weekend newsflow, and clearly liked what they saw as S&P futures were modestly in the green, as both European and Asian stocks are higher.