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Jun 23, 2015

DealBook P.M. Edition - June 23, 2015: Top story British Regulators Extend Clawback Rules for Bankers' Pay

Tuesday, June 23, 2015
TOP STORY
London's Canary Wharf financial district.
British Regulators Extend Clawback Rules for Bankers' Pay Under the new framework, senior executives at lenders operating in Britain could have their bonuses confiscated for up to 10 years after any misconduct.

SEC Litigation Release - June 23, 2015: Phil Donnahue Williamson (Release No. LR-23291; June 23, 2015)

sec.gov

Phil Donnahue Williamson (Release No. LR-23291; June 23, 2015)

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 23291 / June 23, 2015

Securities and Exchange Commission v. Phil Donnahue Williamson, Civil Action No. 1:15-cv-22080-CMA (S.D. Fla. Filed June 1, 2015)

Court Enters Final Judgment Against South Florida Investment Adviser

The Securities and Exchange Commission announced that on June 1, 2015 it filed a civil action charging Phil Donnahue Williamson with siphoning money from his investment fund and defrauding investors, including several retired local teachers and law enforcement officers in violation of the anti-fraud provisions of the Investment Advisers Act of 1940 ("Advisers Act").

SEC Enforcement Actions - June 26, 2015: SEC Charges Unregistered Brokers in EB-5 Immigrant Investor Program

sec.gov

SEC Charges Unregistered Brokers in EB-5 Immigrant Investor Program

FOR IMMEDIATE RELEASE
2015-127
Washington D.C., June 23, 2015
— 

The Securities and Exchange Commission today charged two firms that illegally brokered more than $79 million of investments by foreigners seeking U.S. residency.  The charges are the first against brokers handling investments in the government’s EB-5 Immigrant Investor Program and follow earlier SEC actions against fraudulent EB-5 offerings.

Nasdaq, Russell 2000 hit records as U.S. stocks eke out modest gains: Wall Street at Close Report by MarketWatch on June 23, 2015.

marketwatch.com

Nasdaq, Russell 2000 hit records as U.S. stocks eke out modest gains

Anora Mahmudova, Sara Sjolin
U.S. stocks ended Tuesday’s choppy session slightly higher, though modest gains were enough to push the Nasdaq Composite and Russell 2000 to record closing levels.
Modest gains on Wall Street followed rallies in global equity markets which were boosted by optimism about a possible solution to Greece’s debt woes.
The Nasdaq Composite COMP, +0.12% gained 6.12 points, or 0.1% to 5,160.09, closing at a record for the second consecutive session. The Russell 2000 RUT, +0.26%  gained 3.37 points, or 0.3%, to 1,295.76, its all-time high.
The main benchmark S&P 500 SPX, +0.06%  eked out a gain of 1.41 points, or 0.1%, to settle at 2,124.27. Gains in five sectors were matched by losses in the other five sectors. The Dow Jones Industrial Average DJIA, +0.13%  added 24.76 points, or 0.1%, to end at 18,144.54.
Kristina Hooper, U.S. investment strategist at Allianz Global Investors, noted the stock market gains in June, are so far defying seasonality.
“Usually, June is a weak month for stocks, but not this year, it appears. We would attribute that to improving economic indicators in the second quarter and the fact that the Federal Reserve will be slow and measured in normalizing interest rates,” Hooper said.
Eric Wiegand, senior portfolio manager at the Private Client Reserve at U.S. Bank, said the sideways move in the market over the past several months is reflective of rotation between sectors.
“There’s been a lot of churn out of sectors that will suffer from rising rates, such as utilities and consumer staples. On the other side, financials have outperformed. But the aggregate result is that we haven’t moved much,” Wiegand said, referring to the performance of the S&P 500 year-to-date.
Recent housing data, meanwhile, was encouraging, Wiegand said.
“Economists had written off housing, but it’s coming back and shows consumers are doing better. Housing also has a multiplier effect on the economy,” he said.
Broad upward momentum in early trade was driven by data on sales of new single-family homes, which showed that new homes in May were sold at an annual rate of 546,000, hitting the fastest pace since February 2008. The figures showed growth in two out of four regions, while April numbers were also raised.
The home-sales data came after of a report showed that orders for durable U.S. goods fell a seasonally adjusted 1.8% in May, mostly due to weaker demand for commercial aircraft, the government said Tuesday. Economists polled by MarketWatch had forecast a 1.5% decline.
Fed speakers: Federal Reserve Governor Jerome Powell said there could be two interest-rate hikes this year as he said the stock market isn’t showing signs of being in a bubble, during a breakfast conversation sponsored by The Wall Street Journal.
Green Dot Corp. GDOT, +40.56%  soared 41% on news that its contract to manage and issue Wal-Mart Stores Inc.’s WMT, -0.30%  MoneyCard debit cards was extended for another five years. Separately, Green Dot announced a $150 stock-repurchase program.
Fitbit Inc. FIT, +2.21%  rose 2%, extending gains into its fourth day of trading. The share price has nearly doubled from its $20 IPO price. Trading began last Thursday. See: Surging Fitbit looks past GoPro’s market valuation
For more on today’s notable movers read Movers & Shakers column.
Other markets: Optimism for a deal between Greece and its lenders boosted European markets on Tuesday, with the Stoxx Europe 600 index SXXP, +1.16%  rallying more than 1%.
Asian stock markets closed mostly higher, with China’s Shanghai Composite Index SHCOMP, +2.19%  erasing a sharp loss to end 2.2 % higher.
10-year Treasury yields ticked higher, up 4 basis points to 2.41 %, while the ICE dollar index DXY, +1.14%  rose 1% to 95.355 after durable goods data.
Crude oil futures CLQ5, +1.34%  settled higher, rising 1% to $61.01 a barrel. Gold futures GCQ5, -0.53%  fell 0.6% to settle at $1,176.00 an ounce.

FTC Consumers Update - June 23, 2015: Librarians! Get free FTC materials at the ALA Annual Conference

Federal Trade Commission Consumer Information
by Carol Kando-Pineda

Counsel, FTC's Division of Consumer & Business Education
If you’re headed to San Francisco for the American Library Association’s Annual Conference, stop by to say hello. FTC staff will be at Booth # 2413, ready to hand out our materials – all free, all the time – and talk about how to use them in your library.
Read more >

U.S. Census Bureau Release: New ACS Webbsite - June 23, 2015

ACS Header Blank

U.S. Census Bureau Releases New ACS Website

 
The U.S. Census Bureau's newly designed website for the American Community Survey (ACS) is now available. We have successfully transitioned from the preview version to the new live website that has a look and feel consistent with census.gov, allowing users to quickly find information thanks to an easy to understand hierarchical structure.

We hope that you will enjoy browsing our new site and find more options and information each time.

While you get used to our new website, please use the links below to find the new versions of some of our most popular pages:

CMI Spot Prices as of Close of Trading in New York on June 23, 2015.

Spot Prices as of close of trading in New York

Tuesday, June 23, 2015


Gold

Today Change Week Ago Month Ago Year Ago
$1,178.20 -$7.70 $1,182.60 $1,205.70 $1,321.45

Silver

Today Change Week Ago Month Ago Year Ago
$15.77 -$0.41 $16.00 $17.08 $21.08

Platinum

Today Change Week Ago Month Ago Year Ago
$1,067.90 +$5.70 $1,082.30 $1,150.10 $1,475.10

Palladium

Today Change Week Ago Month Ago Year Ago
$697.80 +$0.10 $735.45 $785.90 $833.80

Gold/Silver Ratio

74.71

Op-Ed: Eyeing $570 million middle-class consumers in the Asia-Pacific region: U.S. Department of Commerce Communications June 23, 2015.


Press Release
06/23/2015 09:53 AM EDT

Chicago's Garrett Popcorn is a local institution whose flavored snacks have been enjoyed by Chicagoans and visitors for more than 65 years. Recently, the chain was recognized for something more than its unique combination of sweet CaramelCrisp and savory CheeseCorn flavors: the success the company has achieved selling its popcorn to overseas customers.
Garrett Popcorn and 44 other American companies received the 2015 President's "E" Award, a distinction given by the president to U.S. businesses that made significant contributions to our country's exports.

European Markets at Close Report on June 23, 2015: Europe closes higher as hopes for Greek deal rise.

cnbc.com

Europe closes higher as hopes for Greek deal rise

Holly Ellyatt, Alexandra Gibbs
European equities closed higher Tuesday as the countdown to a potential debt deal between Greece and its creditors continued.
The pan-European Stoxx 600 index closed around 1.3 percent higher Tuesday, with all sectors ended the day in positive territory.



 


FTSE FTSE 100 Index 6846.69
21.02 0.31% 386350376
DAX DAX Index 11564.35
103.85 0.91% 67154602
CAC 40 CAC 40 Index 5065.02
66.41 1.33% 106065298
IBEX 35 IBEX 35 Idx 11417.10
48.90 0.43% 169149194

Flash data released Tuesday morning showed that the composite purchasing manager's index (PMI) for the euro zone in June rose to 54.1, up from 53.6 in May - a 49-month high for the index by Markit that surveys activity in the region's services and manufacturing industries.
The French CAC index closed around 1.2 percent higher, after composite PMI data for the country rose to 53.4 in June, up from a final reading of 52.0 in May.
Germany's PMI for the same month also showed an increase, to 54.0 from May's final figure of 52.6. The German DAX also closed higher at 0.7 percent after the released data, while the London FTSE 100 index closed just 0.3 percent higher.
Markets continue to hope that Greece will come to some kind of reforms-for-rescue deal with its international creditors this week after Athens presented a new set of reform proposals Monday in a move seen by European Council President Donald Tusk as a "positive step forward."
Read MoreGreece divided over reforms and future
The reforms were presented to euro zone finance ministers and leaders at a set of emergency summits in Brussels Monday.
"I am convinced that we will come to a final agreement in the course of this week," European Commission President Jean-Claude Juncker told a late-night news conference.
But German Chancellor Angela Merkel struck a more cautious note, however, saying she couldn't give "any guarantee" that an agreement would come. "There's still a lot of work to be done, " she told reporters – a warning echoed by the head of the International Monetary Fund, Christine Lagarde.

U.S. Stock Market Future Indications Update - June 23, 2015: U.S. stock futures trim gains after durable goods orders.

marketwatch.com

U.S. stock futures trim gains after durable goods orders

Anora Mahmudova, Sara Sjolin
 
U.S. stock-index futures trimmed gains on Tuesday following a weaker-than-expected reading on durable-goods orders.

Futures had followed European equities higher, as continued optimism over the prospects of a Greek debt deal propped up financial markets on both sides of the Atlantic.

Futures for the Dow Jones Industrial Average YMU5, +0.13%  added 22 points, or 0.1%, to 18,048, while those for the S&P 500 index ESU5, +0.18%  advanced 3.95 points, or 0.2%, to 2,116.75.
Futures for the Nasdaq 100 index NQU5, +0.21%  gained 10 points, or 0.2%, to 4,542.75, setting it on track to score another record after closing at its highest level ever on Monday.

The wider U.S. stock market also rose on Monday on hopes that a deal between Greece and its international lenders could come later this week, after Athens submitted a fresh set of reform proposals. Eurozone leaders said after an emergency summit Monday night that the reform plan was a “positive step forward”. Read: Investors risk complacency over Greece

The deal optimism also boosted European markets on Tuesday, with the Stoxx Europe 600 index SXXP, +1.47%  rallying more than 1%.

Data: U.S. investors have a busy data lineup on Tuesday. Orders for durable U.S. goods fell a seasonally adjusted 1.8% in May, mostly because of less demand for commercial aircraft, the government said Tuesday. Economists polled by MarketWatch has forecast a 1.5% decline.
At 9 a.m. Eastern, the April FHFA home prices report is due. That’s followed by the Markit flash manufacturing purchasing managers’ index for June at 9:45 a.m. Eastern and data on new home sales at 10 a.m. They are forecast to have climbed to 525,000 in May, from 517,000 in April.
“U.S. housing recovery may matter more than Greece,” said Kit Juckes, strategist at Société Générale, in a note.

“It’s a case of two steps forwards, one back for the U.S. data, but as long as there are more forward steps than backward ones, and as long as the market prices in a mere 1% in Fed hikes over 18 months, I’ll look for stronger data to eventually trigger a rate re-pricing and a stronger dollar too, across the board,” he said.

Fed speakers: Federal Reserve Governor Jerome Powell said conditions that are needed for the first rate hike may be met by September, during a breakfast Q&A at a Wall Street Journal Breakfast in Washington, D.C.

BlackBerry Ltd. BBRY, +3.25%  reported weaker-than-expected results. But shares rose 2.8% after it announced a long-term patent cross-licensing agreement with Cisco Systems.
Darden Restaurants Inc. DRI, +0.74%  surged after it announced plans to separate a portion of its real-estate assets into a real-estate investment trust (REIT). Company’s quarterly earnings beat analysts estimates.
Green Dot Corp. GDOT, +0.39%  soared 30% on news that its contract to manage and issue Wal-Mart Stores Inc.’s WMT, +0.07%  MoneyCard debit cards was extended for another five years. Separately, Green Dot announced a $150 stock-repurchase program.

Fitbit Inc. FIT, +14.03%  rose 5.8% in premarket trade, extending gains into its fourth day of trading. The share price has nearly doubled from its $20 IPO price. Trading began last Thursday.
For more on today’s notable movers read Movers & Shakers column.
Other markets: Asian stock markets closed mostly higher, with China’s Shanghai Composite Index SHCOMP, +2.19%  erasing a sharp loss to end 2.2% higher.

10-year Treasury yields ticked higher, up 3 basis points to 2.4%, while the ICE dollar index DXY, +1.19%  rose 1.1% to 95.35 after durable goods data.

Crude oil futures CLQ5, -0.91%  declined, while metals traded mixed.