Translate

Search This Blog

Search Tool




Sep 2, 2015

Stock Markets Collapse Peter Schiff, Ron Paul, Gerald Celente & others all warned this would happen: Economics - September 2, 2015.

Stock Markets Collapse Peter Schiff, Ron Paul, Gerald Celente & others all warned this would happen

Economics

Emma Thompson on climate change and refugees - Newsnight: BBC News Night - September 2, 2015.

Emma Thompson on climate change and refugees - Newsnight

BBC Newsnight BBC Newsnight
Published on Sep 2, 2015
Actress and campaigner Emma Thompson tells Newsnight that climate change and the refugee crisis are connected - we're facing "a humanitarian disaster of proportions we simply can't imagine" she says. Emily Maitlis began by asking whether she believed she could negotiate with Shell on her current campaign to stop oil drilling in the Arctic.

The Guardian | Australian Politics : Tony Abbott says decision on joining air strikes in Syria will be made 'next week'...| Steve Bell on David Cameron and the migration crisis – cartoon | Abortion clinic exclusion zone will protect women, says Sex party’s Fiona Patten – video

Australian politics
Thursday 03 Sep 2015
g
Latest More »

Retired US general David Petraeus says in Lowy lecture that Australia ‘should consider’ the move, which would ‘damage’ the militant group Isis
National accounts show economy grew 0.2% in the June quarter but finance minister plays it down, blaming largest fall in trade in 50 years

Tightness Reported in London Gold Market: GATA | THE GATA DISPATCH - September 2, 2015.

Tightness reported in London gold market

Submitted by cpowell on  Wednesday, September 2, 2015Gold Demand from China and India Picks Up
By Henry Sanderson
Financial Times, London
Wednesday, September 2, 2015

London's gold market is showing tentative signs of increased demand for bullion from consumers in emerging markets, after the price of the precious metal fell to its lowest level in five years in July.
The cost of borrowing physical gold in London has risen sharply in recent weeks. That has been driven by dealers needing gold to deliver to refineries in Switzerland before it is melted down and sent to places such as India, according to market participants.
The rise "does indicate there is physical tightness in the market for gold for immediate delivery," said Jon Butler, analyst at Mitsubishi. .
..
... For the remainder of the report:

http://www.ft.com/cms/s/0/eae18206-5154-11e5-b029-b9d50a74fd14.html

SEC Charges Advisory Firm With Fraud for Improperly Retaining Fees: SEC Enforcement Action - September 2, 2015.


SEC Seal

The Securities and Exchange Commission today announced that an investment advisory firm in Philadelphia has agreed to pay more than $21 million to settle charges that it fraudulently retained fees belonging to collateralized debt obligation (CDO) clients.
An SEC investigation found that Taberna Capital Management did not tell CDO clients it was retaining payments known as “exchange fees” in connection with restructuring transactions.   Taberna’s retention of the exchange fees was neither permitted by the CDOs’ governing documents nor disclosed to investors in the CDOs.  The fees rightfully belonged to the CDOs and created conflicts of interest that Taberna failed to disclose.

FRB Beige Book: Federal Reserve Board Notification - September 2, 2015.

 

Summary of Commentary on Current Economic Conditions by Federal Reserve District

Commonly known as the Beige Book, this report is published eight times per year. Each Federal Reserve Bank gathers anecdotal information on current economic conditions in its District through reports from Bank and Branch directors and interviews with key business contacts, economists, market experts, and other sources. The Beige Book summarizes this information by District and sector. An overall summary of the twelve district reports is prepared by a designated Federal Reserve Bank on a rotating basis.

DealBook P.M. Edition - September 2, 2015: U.S. Stock Markets End Higher Though Global Concerns Linger | Puerto Rico Reaches Deal With Electric Utility Bondholders | Samsung's Next Smartwatch | E.C.B. Council May Talk China | Disney's Marketing Force | Eyes on August Jobs Report.

 
Wednesday, September 2, 2015
TOP STORY
U.S. Stock Markets End Higher Though Global Concerns Linger Shares in the United States climbed on Wednesday, shaking off a global rout the previous day.

CMI Spot Prices as of Close of Trading in New York on September 2, 2015

CMI Gold & Sliver

Spot Prices as of traditional New York closing times

Wednesday, September 02, 2015


Gold

Today Change Week Ago Month Ago Year Ago
$1,134.60 -$6.60 $1,126.20 $1,090.80 $1,270.35

Silver

Today Change Week Ago Month Ago Year Ago
$14.70 +$0.05 $14.06 $14.55 $19.22

Platinum

Today Change Week Ago Month Ago Year Ago
$1,016.20 +$5.30 $981.80 $969.20 $1,415.20

Palladium

Today Change Week Ago Month Ago Year Ago
$583.00 +$1.20 $530.25 $605.75 $890.30

Gold/Silver Ratio

77.19

Stocks close sharply higher in rebound; S&P, Nasdaq out of correction: Wall Street at Close Report on September 2, 2015.

cnbc.com

Stocks close sharply higher in rebound; S&P, Nasdaq out of correction

Evelyn Cheng, Fred Imbert
U.S. stocks closed sharply higher on Wednesday, partly recovering from the worst start to September in 13 years, as investors eyed calmer global markets, domestic data, and oil prices. ( Tweet This )
The major averages rallied more than 1.5 percent in the close to end near session highs, with the Nasdaq composite outperforming with gains of 2.46 percent to pull out of correction territory.
The S&P 500 also closed higher out of correction territory, while the Dow Jones industrial average remained in correction. The blue chip index ended three straight days of losses with a gain of 293 points. Apple surged 4.29 percent and Microsoft leaped 3.68 percent to lead nearly all blue chips higher, while information technology led all S&P sectors higher.

Will Oil Cause the Next Recession?: Bloomberg View - September 2, 2015

bloombergview.com

Will Oil Cause the Next Recession?

A. Gary Shilling
If oil prices take another dramatic slide, as I believe they will, who wins and who loses? And could plummeting oil prices sow the seeds of the next recession?
Oil-importing countries are obvious winners from falling crude prices. That includes the U.S., where -- despite a surge in domestic production -- imports still account for nearly 50 percent of petroleum consumption. The net oil-importing countries of western Europe and Asia also benefit from falling crude prices. India and Egypt, which subsidize domestic energy use, will surely benefit. Some of that, however, will be offset because crude oil is priced in U.S. dollars, and those countries' currencies have grown weaker against the greenback.
The windfall for U.S. consumers is considerable, with average gasoline prices down 24 percent to $2.47 a gallon from $3.77 in June 2014. No doubt, prices will fall even more when the summer driving season ends after Labor Day.

Google's Driverless Car Learns to Navigate an Imperfect World: Bits | The Business of Technology - September 2, 2015:


Daily Report
 
Wednesday, September 2, 2015

Google's Driverless Car Learns to Navigate an Imperfect World | We need not fear Google's self-driving car. But perhaps the self-driving car should fear us.
In several years of testing, Google's autonomous cars could certainly qualify for a safe-driver insurance discount.

FTC: Video Reviews of Xbox One Were Deceptive: FTC Consumer Updates - September 2, 2015.

Federal Trade Commission Consumer Information
by Alvaro Puig
Consumer Education Specialist, FTC


It’s no surprise that gamers excited about the release of a new gaming console would go online to see what people are saying about it. But they might be surprised to learn that some people who posted video reviews were paid to say positive things—and didn’t disclose that. That’s what the FTC says happened in the days leading up to the launch of Microsoft’s Xbox One, according to a complaint filed today by the agency.

Read more >

July 2015 new orders for manufactured goods increased 0.4 percent, Shipments fell 0.2 percent, Unfilled orders increased 0.2 percent: ESA | Manufacturer's Shipments, Inventories, and Orders - September 2, 2015.

ESA Overlay Banner



July 2015 new orders for manufactured goods increased 0.4 percent, to $482.0 billion. Shipments fell 0.2 percent, to $483.6 billion. Unfilled orders increased 0.2 percent, to $1,198.0 billion. And inventories decreased 0.1 percent, to $651.2 billion.



Economics & Statistics Administration

European Shares End Higher After Wall Street Gains: European Markets at Close Report - September 2, 2015.

cnbc.com

European shares end higher after Wall Street gains

Jenny Cosgrave, Katy Barnato, Catherine Boyle
European markets finished higher on Wednesday, reversing earlier losses as Wall Street shares bounce back and Asian stocks pared some losses in a volatile trading day.
The U.K.'s benchmark FTSE 100 turned positive in afternoon trading, ended 0.65 percent higher, down from highs seen earlier. The French CAC 40 and the German DAX both ended up around 0.5 percent.

U.S. Stock Futures Extend Rise After Private-Sector Jobs Data: U.S. Stock Market Future Indications Update - September 2, 2015.

marketwatch.com

U.S. stock futures extend rise after private-sector jobs data

Sara Sjolin
U.S. stock futures climbed Wednesday, adding to gains after data showed solid job gains in the private sector and a sharp upward revision to productivity growth in the second quarter.
Wednesday’s data as well as the official payrolls figures due on Friday are among the last economic reports before the Federal Reserve makes a decision on interest rates at its next policy meeting on Sept. 16-17.

Lawrence Williams leaves MineWeb for Sharps Pixley and his own Internet site | NYPost's John Crudele: Why the Federal Reserve should be audited: GATA | THE GATA DISPATCH - September 2, 2015.

Lawrence Williams leaves MineWeb for Sharps Pixley and his own Internet site

Submitted by cpowell on  Wednesday, September 2, 2015 Wednesday, September 2, 2015
Dear Friend of GATA and Gold:
Lawrence Williams, who long has written for MineWeb and is among the few financial writers willing to acknowledge the evidence of central bank manipulation of the gold market, advises that his commentary is moving away from MineWeb.

Quarterly Gross Domestic Product by State, 2005–2014 (Prototype Statistics): BEA News Release - September 2, 2015

The U.S. Bureau of Economic Analysis (BEA) has issued the following news release today:

Today, the U.S. Bureau of Economic Analysis (BEA) is releasing prototype quarterly gross domestic product (GDP) by state statistics for 2005-2014. The new data are intended to provide a fuller description of the accelerations, decelerations, and turning points in economic growth at the state level, including key information about the impact of industry composition differences across states. Relative to the August 2014 release, the new prototype statistics incorporate new and revised source data and cover an additional year of economic activity.

The full text of the release on BEA's Web site can be found at www.bea.gov/newsreleases/regional/gdp_state/qgsp_newsrelease.htm

DealBook Today's Top Headlines - September 2, 2015: Chinese Stocks Slide After U.S. Sell-Off |Puerto Rico Electric Utility's Debt Deal | Uber Faces Class Action Law Suit

 
Wednesday, September 2, 2015
TODAY'S TOP HEADLINES
By AMIE TSANG
CHINESE STOCKS SLIDE AFTER U.S. SELL-OFF Chinese stocks fell modestly on Wednesday after weak manufacturing data in the United States and China set American set American shares plummeting on Tuesday, Paul Mozur reports in DealBook. The Shanghai Composite closed down 0.2 percent, rebounding from a deeper slump earlier in the day.

The Standard & Poor's 500-stock index slid 58.33 points, or 2.96 percent on Tuesday. Only three stocks in the S.&P. 500 rose, suggesting that the market could have further to drop, Peter Eavis and David Jolly write in DealBook.

The weakness in Chinese shares was far from the worst the country has seen over the past month, but came just ahead of a closely stage-managed commemoration of the end of World War II.

Obama Has One Vote Left to Court on Iran Deal: NYT First Draft on Politics - September 2, 2015.

9/2/2015 nytimes.com/firstdraft »
First Draft

Obama Has One Vote Left to Court on Iran Deal

Senator Chris Coons of Delaware on Tuesday announced his support for the Iran nuclear deal. Kyle Grantham/The News Journal, via Associated Press
9/2/2015
By Carl Hulse
Good Wednesday morning. In their arguments against the Iran nuclear deal, some Republican candidates have mocked President Obama for calling climate change the most serious threat facing the nation. It is worth noting then that the deal’s success might be assured while Mr. Obama is in the Arctic, warning of the effects of climate change.
Mr. Obama may be in the wilds of Alaska, but he is on the verge of a major foreign policy victory back home: The Senate is a vote short of making it impossible for opponents to block the nuclear deal with Iraq.

Dow Futures Jump Almost 100 Points as U.S. Stocks Look Set For Rebound: U.S. Stock Market Future Indications.

marketwatch.com

Dow futures jump almost 100 points as U.S. stocks look set for rebound

Sara Sjolin
 
U.S. stock futures pointed to an upbeat open on Wall Street on Wednesday, with investors finding relief in calmer markets in Asia ahead of a Chinese holiday.
Later in the day, key labor-market data and the Federal Reserve’s Beige Book will also be closely watched for any clues on the timing of the first rate increase.

Chinese Stocks Rebound From Earlier Sharp Selloff: Asian Markets at Close Report on September 2, 2015.

marketwatch.com

Chinese stocks rebound from earlier sharp selloff

Chao Deng
An earlier version of this story misstated the closing level of the Shanghai Composite.

Reuters
China's People's Liberation Army during a training session for a World War II anniversary parade.
Sellers eager to cash out before a four-day holiday in China and buyers believed to be backed by Beijing staged a stock-market tug-of-war in Shanghai on Wednesday, leaving shares down slightly after a tumultuous trading session.

The Guardian Today - Australia Edition - September 2, 2015:

the guardian today - Australia edition
Wednesday 02 Sep 2015
g
Editor's picks More »

Department secretary Michael Pezzullo is fighting ruling on freedom-of-information request from Guardian Australia