The Wall Street Journal – Crude Oil Prices Remain Pressured by Tropical Storm Harvey Investors worried that disruptions to refineries would weigh on demand for crude oil “On the surface, one may assume the impact from Hurricane Harvey would be bullish for oil prices…[but] refinery run rates will slow, which should see crude oil inventories growing… Continue reading Why Crude Is Falling In The Wake Of Hurricane Harvey
The Wall Street Journal – Stocks Fall as North Korea Missile Test Rattles Investors Investors seek out havens such as Japanese yen, gold, U.S. Treasurys The North Korean missile launch jolted a market that was largely listless around the world on Monday, aside from energy-related futures, as tropical storm Harvey batteredoil-hub Texas. Brent crude oil was last… Continue reading North Korea Launches A Missile
Bloomberg – Bull and Bear Market Volatility Look Very Different A storm in the financial markets may be fast approaching, yet history tells us that the calm typically lasts much longer. It’s possible investors are being lulled into a sense of complacency because the stock market has been on such a smooth ride over the past… Continue reading Lack of Central Bank Action Helping Dampen Volatility
Barron’s – No Summer Love for Biotech Stocks Biotech funds continue to see outflows. Biotechnology stocks have outperformed health care stocks so far this year. The iShares Nasdaq Biotechnology ETF (IBB) has returned more than 18% compared to the Health Care Select Sector SPDR’s (XLV) more than 15% return through Aug. 24, according to Morningstar. Yet, investors… Continue reading Healthcare Outflows Widen Beyond Biotech
CNBC – Investors pull billions from US stocks in longest outflow streak since 2004 Investors have pulled $30 billion from U.S. stock funds over the last ten weeks, Bank of America Merrill Lynch says. Investors are fleeing U.S. stocks in a way they haven’t since 2004. For 10 straight weeks a total $30 billion has left… Continue reading Equity Flows: Active vs. Passive
The Financial Times – Trump to push for tax reform passage by year’s end, says Cohn Donald Trump will launch a major push on tax reform next week with a speech in Missouri, as the president shifts focus to fiscal policy in an effort to secure a badly needed first big legislative victory by the… Continue reading The Push For Tax Reform
CNBC – Trump setting records for low presidential approval Plunging into undesirably uncharted territory, Trump is setting records with his dismally low approval ratings At 34 percent, his current approval rating is worse than former President Barack Obama’s ever was Getty Images President Donald Trump at the White House in Washington, DC. Donald Trump started as the… Continue reading Tracking Trump’s Approval Rating
Bloomberg Business – Yellen Distances Herself From Trump in Jackson Hole Speech By broadly defending the sweeping financial rules put in place in the past decade, Federal Reserve Chair Janet Yellen distanced herself on Friday from the anti-regulatory rhetoric of the man who will decide whether to replace her, President Donald Trump. Yellen, whose term as Fed… Continue reading Yellen Plays Politics
Bloomberg – FDA Warnings Meant to Protect Consumers Fall Under Trump In the first months of Donald Trump’s presidency, the FDA has shown signs of retreating from its mission. From January to July, the agency sent 265 warning letters to companies, notifying them of what it alleged to be serious violations of federal rules. That’s the lowest tally… Continue reading More Anecdotal Evidence Of Trump’s Anti-Regulation Push
The Financial Times – Wolfgang Munchau: Brexit’s threat to long-term European unity If it becomes clear that leaving does not necessarily trigger an economic crisis, other countries may feel less inhibited. Brexit could set a precedent for further exit agreements under Article 50 of the Lisbon treaty as an EU exit comes to be seen… Continue reading The Lingering Effects From Brexit
Bloomberg Business – El-Erian Says Markets Too Sanguine About Fed View on Instability “I suspect the market is too sanguine when it comes to how much central bankers are thinking about the risk of financial instability down the road,” El-Erian said Friday in an interview on Bloomberg Television. “We’re hearing more central bankers talk about the… Continue reading Financial Stability