Markets


Mortgage Rates Thursday, March 16: Major Drop on Heels of Fed Hike Mortgage Rates Thursday, March 16: Major Drop on Heels of Fed Hike
- March 19, 2017

As expected by economists, raising the target range for the Fed funds rate by 25 basis points to between 0.75% and 1.0%. Rick Rieder, a strategist at BlackRock, was more forceful in his commentary following the hike, saying that , "We applaud the Fed for its courage in continuing to move rates forward, despite what has been divided opinion among the Fed participants, and for the courage to describe a policy that would suggest at least three rate moves this year on the road to policy ... (more...)
JCPenney to close Hutchinson store
- March 19, 2017

The liquidation process for most stores will begin on April 17 and most stores will close in June. The Hutchinson JCPenney store manager referred media inquires to a corporate office. The closings don't include the JCPenney Museum and Mother Store in Kemmerer and other locations around Wyoming. As a result of the stores closing JCPenney will also close two distribution centers. (more...)
Maharashtra: Finance Minister Sudhir Mungantiwar presents Budget; Opposition calls it anti-farmer Maharashtra: Finance Minister Sudhir Mungantiwar presents Budget; Opposition calls it anti-farmer
- March 19, 2017

Presenting his third straight budget amid loud protests from the Opposition, Finance Minister Sudhir Mungantiwar announced an increase in Value Added Tax (VAT) from 23.08 per cent to 25.93 per cent on the maximum retail price of foreign liquor, Indian made foreign liquor and country liquor while offering sops for regional air connectivity. (more...)
Zacks Rank on Steel Dynamics, Inc. (STLD) based on Estimated Earnings
- March 19, 2017

At the time of writing, the stock was trading at $0.16. Recently analysts working for numerous investment brokerages have updated their research report ratings and price targets on shares of Steel Dynamics, Inc . This shows a surprise factor of 0%. 12/12/2016 - Steel Dynamics, Inc . had its "buy" rating reiterated by analysts at Jefferies. Steel Dynamics has a 12-month low of $21.41 and a 12-month high of $40.17. (more...)
White House apologizes to British government over spying claims
- March 19, 2017

But on Thursday, Sean Spicer found a way - and soured diplomatic relations with the United Kingdom, in the process. There would be no advantage for Britain's government in spying on Trump, given the potential cost, he said. "You and I both know they have broadened the definition of wiretapping in the days since the president put out that baseless tweet to include all forms of surveillance because the original tweet is a false claim", Acosta told Tapper. (more...)
At Mnuchin's First Big Meeting, G20 Shies From Endorsing Free Trade
- March 19, 2017

At a meeting of policymakers from the Group of 20 major economies around the world on Friday and Saturday, they were forced to drop their long-standing commitment "to resist all kinds of protectionism" in their communiqué because of US opposition. (more...)
Brazil hit by rotten meat scandal
- March 19, 2017

According to reports by the Associated Press, part of the money allegedly paid by meatpackers JBS and BRF was channelled to two major political parties, including the one of President Michel Temer, police said after a two-year investigation. (more...)
Trump 1, free trade 0: G20 drops pledge to fight protectionism
- March 19, 2017

The gathering of finance ministers and central bank chiefs from the Group of 20 countries has focused on shifting attitudes toward trade, particularly after U.S. "On subjects that are so important, it's not up to the finance ministers to block or to walk back on the issue, there will not be any backsliding on such fundamental issues", he said. (more...)
Moody's: US Debt Limit Not Doomsday Scenario Moody's: US Debt Limit Not Doomsday Scenario
- March 19, 2017

A deal in November 2015 to suspend the federal borrowing cap, which would be just under $20-T, will end next Wednesday. The federal government is expected to hit the debt ceiling on March 15 or 16. During the Obama administration, Republicans often sought to use must-pass legislation to raise the borrowing limit as leverage to force the administration to impose greater restrain on government spending. (more...)
G20 Finance Ministers Agree on Trade Provisions in Draft Communique
- March 19, 2017

Finance ministers from world's biggest economies have dropped an anti-protectionist commitment after opposition from the US. Their stance on issues such as free trade and climate change have major implications on the global economy. Germany managed to rescue some of the previously common G20 language supporting free trade and open markets in a separate document adopted by policymakers in Baden-Baden. (more...)
Haryana government holds talks with Jats ahead of Delhi protest Haryana government holds talks with Jats ahead of Delhi protest
- March 19, 2017

Police made heavy deployment in areas bordering Haryana and Uttar Pradesh. We may also use drones and barricades. Police said adequate police and paramilitary personnel had been deployed. "The services to all these stations will be resumed only after getting clearance from Delhi Police", NDTV quoted a metro official as saying. The advisory further says that some Metro stations in the central Delhi region will also remain closed from 8pm onwards. (more...)
World powers drop pledge to fully oppose trade protectionism
- March 19, 2017

The G20 finance ministers and their central bankers have already reached a broad agreement on a slew of issues including market regulation, moves to combat terrorist financing, and promoting economic development in Africa. But they argue that trade restrictions will not help those left behind by the globalized economy and point to better training and education as part of the answer. (more...)
Analyst Research Roundup: GNC Holdings, Inc. (GNC), Allegheny Technologies Incorporated (ATI) Analyst Research Roundup: GNC Holdings, Inc. (GNC), Allegheny Technologies Incorporated (ATI)
- March 19, 2017

They now have a $16.00 price target on the stock. 01/20/2017 - Allegheny Technologies Incorporated was downgraded to "underperform" by analysts at Bank of America Merrill Lynch. They now have a Dollars 54 price target on the stock. The stock's price switched up -11.93% 20-Days Simple Moving Average, dropped -8.53% from 50-Days Simple Moving Average and rose 4.09% from 200 Days Simple Moving Average. (more...)
Trump blows up G20 trade consensus
- March 19, 2017

Trump, who was elected to office in November past year, has called global warming a "hoax" concocted by China to hurt the USA industry and vowed to scrap the earlier Paris climate accord aimed at curbing greenhouse gas emissions. Officials may continue to seek greater consensus on trade between now and the G-20 leaders summit in Hamburg in July. Commitments of support to the existing multilateral trade system, including the World Trade Organization (WTO), were also conspicuously missing from ... (more...)
US, China to work to prevent Korean peninsula conflict: Tillerson
- March 19, 2017

He said his visit to Asia was created to "exchange views on a new approach", echoing the comments of others in Washington who have said Trump wants to examine all options - including military ones - for halting the North's weapons programs before it becomes capable of developing a nuclear-tipped missile that could reach the USA mainland. (more...)
$100 Million in federal emergency money to flow for Flint water $100 Million in federal emergency money to flow for Flint water
- March 19, 2017

The Environmental Protection Agency awarded MI $ 100 million to help replace Flint's badly eroded and damaged water infrastructure. It's been a little over three years since the Flint water crisis began, after city officials - in an effort to cut costs - switched from the Detroit water system and began drawing water from the highly contaminated Flint River in April 2014. (more...)
Spotlight on currency volatility, cyber crime and climate change
- March 19, 2017

In an unprecedented move, G20 ministers left the two-day meeting without a pledge to bolster free trade. Mnuchin rejected a statement from other leading economies that warned of the dangers of trade protectionism and rejected the suggestion of emphasizing the importance of free trade in a joint statement issued by the committee. (more...)
Why Trump wants power to remove director of Consumer Financial Protection Bureau Why Trump wants power to remove director of Consumer Financial Protection Bureau
- March 19, 2017

Under the agency's current structure, its director can only be removed "for cause", such as neglect of duty, and not over political differences. The divided three-judge panel ruled previous year that the way the CFPB is organized violates the Constitution's separation of powers by limiting the president's ability to fire the agency director. (more...)
Nigerian court overturns seizure of oilfield from Shell and Eni Nigerian court overturns seizure of oilfield from Shell and Eni
- March 19, 2017

The companies, Shell and Eni contended the judgement telling the court that fair hearing was not followed before the verdict. Shell had previously said the EFCC conducted "a gross abuse of process and an abuse of power" to get a court order asking for the forfeiture, according to a document obtained by Reuters. (more...)
Turkish politicians slam European Union court's headscarf ruling Turkish politicians slam European Union court's headscarf ruling
- March 19, 2017

The "games" he claims are being played are attempts by European leaders to stop Turkish ministers leading rallies in support of Turkish President Recep Tayyip Erdoğan expanding his power in an up-and-coming referendum. By way of compensation Ankara received a whopping £2.6billion in aid cash to help in cope with the three million asylum seekers on its territory as well as a promise to "re-energise" its European Union membership talks. (more...)