Iran’s Revolutionary Guard Corps seized a British oil tanker

NEW YORK – Iran’s Revolutionary Guard Corps seized a British oil tanker in the Strait of Hormuz amid soaring tensions in one of the world’s critical energy choke points. Brent climbed more than 1% on the news. The tit-for-tat actions signal greater instability and potential conflict in a region where one-third of the world’s seaborne crude and fuels pass through.

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Trump Sincere In Overtures To Iran To Negotiate New Nuclear Agreement – U.S. Iran Envoy

WASHINGTON – The offers made by U.S. President Donald Trump to negotiate a new nuclear agreement with Iran are sincere, U.S. Special Representative for Iran Brian Hook said on Tuesday. “Those who sort of question the sincerity of the President’s invitations, I would just point to the fact that he’s now met twice with [North Korean leader] Kim Jong-Un”, Hook said an event hosted by the Axios media outlet in Washington. Donald Trump has repeatedly said he is open for talks with the Iranian leadership without any preconditions.

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Oil Prices Down On Dwindling Storm Impact, Chinese Economic Data

NEW YORK (Reuters) – Oil prices sank about 1% on Monday on signs that the impact of a tropical storm on U.S. Gulf Coast production and refining would be short-lived, while Chinese economic data dimmed the crude demand outlook. Crude prices softened as oil companies returned workers to offshore platforms as the effects of (the storm) have subsided.

Deutsche Panic: Economist Warns Of Massive Global Economic Downturn – ‘Game Is Up’

See tape below

Professor Richard Wolff, one of America’s most prominent economists, claimed that if Deutsche was in trouble it was likely far from alone. He explained to RT America that the extent of the crisis would not be known “until something blows and whole game is up.” The Manhattan-based professor told RT host Rich Sanchez: “It would be easy to find statements by experts, by bank CEOs, by Wall Street commentators telling us not to worry – it’s a detail, it only affects one bank. Deutsche Bank is the biggest bank in Germany. It is one of the biggest banks in Europe and the world. If it has serious troubles those troubles are also affecting other banks and they’re affecting the interactions between a monster bank like Deutsche and all the other banks since these banks do an enormous amount of business with one another. The truth is the people who run these banks hide their difficulties from the shareholders, because they want to keep their jobs and from their workers because they don’t want to freak people out – that their jobs might be in danger. So what we’re left with is very little, lots of PR and a big question mark. But we won’t know the extent of it until they’re good and ready or until something blows and then the whole game is up.”

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Iran oil exports drop below 300,000 bpd in June

Iran’s oil exports for the month of June dropped to less than 300,000 barrels per day after the United States tightened sanctions on the regime’s main source of income, according to industry sources said and tanker data cited by Reuters. Data from Refinitiv Eikon put Iran crude shipments at about 240,000 bpd.  a fraction of the more than 2.5 million bpd that Iran shipped in April 2018, the month before.

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Guards Commander Says Iran Should Seize UK Oil Tanker If Iranian Vessel Not Released

DUBAI (Reuters) – Iran should seize a British oil tanker if an Iranian tanker detained off Gibraltar earlier this week is not released immediately, a senior Revolutionary Guards commander said in a tweet on Friday. British Royal Marines seized the supertanker Grace 1 on Thursday for trying to take oil to Syria in violation of EU sanctions, a dramatic step that drew Tehran’s fury and could escalate its confrontation with the West.

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Trump: Iran ‘Playing With Fire’ With Uranium Enrichment

Iran’s semi-official Fars news agency reported that the country’s enriched uranium stockpile has now passed the 300kg limit allowed under the deal. Trump, asked if he had a message for Iran, said: “No message to Iran. They know what they’re doing. They know what they’re playing with, and I think they’re playing with fire. So, no message to Iran whatsoever.”

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Oil Market Got It Wrong On Friday, Europe DOES NOT Have A Way Around US/Iran Oil Embargo

This is another example why you need REAL market intelligence if you’re going to trade and make money. The bullshit was that Iranian Oil would flow because Europe found a way around the US oil embargo… What a load of shit! In fact, the Trump administration is weighing sanctions against the Iran Trade Promotion Plan (INSTEX) set up as a go-between for humanitarian trade (ha ha ha) with Europe. Listen to the tape!

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OPEC sets July 1-2 as date for its next meeting: sources

London — OPEC and its allies have fixed the date of their upcoming meetings in Vienna for July 1-2, four sources have told S&P Global Platts, ending a protracted scheduling spat that the organization’s president had warned was keeping the oil market on edge.

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Iran warns any clash in the Gulf would push oil prices above $100

 A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Persian Gulf, Iran, July 25, 2005. REUTERS

LONDON (Reuters) – U.S. military vessels in the Gulf are within range of Iranian missiles, a top military aide to Iran’s Supreme Leader Ayatollah Ali Khamenei said on Sunday, warning any clash between the two countries would push oil prices above $100 a barrel. Iran and the United States have been drawn into starker confrontation in the past month, a year after Washington pulled out of a deal between Iran and global powers to curb Tehran’s nuclear programme in return for lifting international sanctions. Washington re-imposed sanctions last year and ratcheted them up in May, ordering all countries to halt imports of Iranian oil. In recent weeks it has also hinted at military confrontation, saying it was sending extra forces to the Middle East to respond to an Iranian threat. Yahya Rahim Safavi, a top military aide to Khamenei, said: “The Americans are fully aware that their military forces (in the region) are within the Iran’s missile range and all U.S. and foreigners’ navy in the Persian Gulf are within the range of land-to-sea missiles of the Revolutionary Guards.” “The first bullet fired in the Persian Gulf will push oil prices above $100. This would be unbearable to America, Europe and the U.S. allies like Japan and South Korea,” Rahim Safavi was quoted as saying by Fars news agency. Dismissing any negotiations with Washington on Iran’s missile programme, Iran’s Armed Forces Chief of Staff, Major General Mohammad Baqeri was quoted as saying by Fars on Sunday: “Iranian nation with not retreat an iota from Iran’s defensive capabilities.” President Hassan Rouhani on Saturday suggested Iran may be willing to hold talks if the United States showed it respect, but said Tehran would not be pressured into negotiations.

Market News and Commentary January 23

It Must Be Asshole Mating Season! How do I know you may ask? Because the pompous prick bankers, both government and private, are having their yearly fuck fest in Davos. In between the orgies they are doing the usual feed the suckers full of shit interviews.

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Market News and Commentary December 9

The U.S. Just Became A Net Oil Exporter For The First Time In 75 Years. OPEC works on deal to cut output, still needs Russia on board. Crude prices rally 4% as Russia, Saudis signal output curbs. Russian Energy Minister Alexander Novak confirmed the combined output cuts of 1.2 million bpd, saying that the market will be oversupplied through the first half of the year. Trump calls truce in China trade war a big success, but little is known about the deal. Shares spiral on arrest of China executive; oil sinks as output decision delayed. Trump’s China car tariffs claim sows confusion. Qatar to leave OPEC and focus on gas as it takes swipe at Riyadh. Israel has been building defensive obstacles along a roughly seven-mile stretch of its border with Lebanon since 2015.

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Market News and Commentary November 30

Cohen To Rat Out Russian Collusion. Federal Reserve warns of vulnerabilities in U.S. financial system. Saudis mull quiet cuts to OPEC production. Oil plunges nearly 8 percent despite talk of output cut. Oil prices hit year low as OPEC considers output cut. The next gold? Palladium prices soar, & Russia has plenty of the precious metal. Boris warns Brexit plan akin to Titanic heading toward doom. May’s Brexit deal prospects ebb as top ally rejects it.

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Market News and Commentary November 21

Oil Glut Worries Persist. Trump thanks Saudi Arabia for lower oil prices. Trump thanks Saudis for $54 oil, but says in Wednesday tweet, ‘let’s go lower.’ U.S. consumer sentiment deteriorates more than initially estimated in November. U.S. durable goods orders plunge 4.4% in October, much more than expected. Dozens of banks have exposure to GE’s $41B in credit lines.

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Market News and Commentary November 20

Oil Slumps 7 Percent As Equities Slide Fuels Demand Worries. Household debt hit a record high of $13.5 trillion last quarter. Subprime rises: Credit card delinquencies blow through financial-crisis peak at the 4,705 smaller U.S. banks. Saudi crown prince ordered Khashoggi’s assassination: CIA. Pence: U.S. will hold those responsible for Khashoggi’s murder accountable. Home builder confidence tumbles the most since 2014 as housing headwinds catch up. Bitterly cold Thanksgiving will be among the coldest on record in parts of the Northeast. Trump stands by Saudi Arabia despite Khashoggi murder.

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Market News and Commentary November 15

Sterling, Euro Stocks Scuttled As Brexit Deal Hits The Rocks. Theresa May’s job hangs by a thread today as she was hit by a wave of resignations over her Brexit plan. Saudi Arabia to seek death penalty for 5 accused in Khashoggi killing. Record U.S., Russia and Saudi oil production means supply well outstrips global demand: IEA. Theresa May on the brink after wave of resignations in protest at her Brexit deal that ‘blackmails the country.’ Trump takes aim at Mueller as speculation over Russia probe’s end grows. J.C. Penney gives gloomy outlook before holidays. U.S. levels sanctions on 17 Saudis for alleged involvement in Khashoggi killing.

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Market News Oil Supplemental November 14

Don’t Be Fooled! OPEC Will Pull Barrels Out Of The Market

Oil market manipulators have flushed the toilet on the longs. Open interest is plunging and oil is a great opportunity. A $20 rally in oil is in the cards. And OPEC has the power to do it. All they have to do is turn a valve. The Saudis, as a favor to Trump, have over supplied the market at the lowest demand time of the year by over a million barrels a day. This party is over. There is already a consensus building in OPEC to dramatically cut oil production. And they meet in a few weeks at the beginning of December.

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Market News and Commentary November 9

Manchin: We’re ‘On The Verge’ Of A Constitutional Crisis Due To Sessions’ Firing. China October exports surprisingly strong in race to beat higher U.S. tariffs. U.S. to impose new duties on Chinese aluminum sheet products. Russia clashes with western oil buyers over new deals as sanctions loom. U.S. grants Iraq 45-day waiver over Iran sanctions to import gas, electricity. U.S. Embassy Senate Democrats weigh lawsuit over Trump Justice Department appointment.

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Market News and Commentary November 8

Trump’s Pick For Acting AG Said In 2017 Interview There Was ‘No Collusion’ Between Trump And Russia. Trump moves to deny asylum to most migrants who cross border illegally. Japan core machine orders plummet in September. Oil falls as rising production feeds concerns of an oversupply. Trump’s acting AG was involved in company accused of being a ‘scam’ by FTC. Trump faces a blitz of investigations from Democratic-run House.

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Market News and Commentary October 29

The Fake News Media, The True Enemy Of The People, Must Stop The Open & Obvious Hostility & Report The News Accurately & Fairly. Two big credit-card issuers tighten lending standards amid robust economy: WSJ. Trump: ‘We’re going to build tent cities (AKA concentration camps) to house ‘caravan’ migrants who apply for asylum. Trump to terminate birthright citizenship. Oil prices down more than 1 percent on rising supply, trade war. Ukraine says Russia preparing to deploy nukes in Crimea. Trump says he can defy U.S. Constitution to end birthright citizenship. U.S. preparing to deploy several thousand troops to southern border.

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Market News and Commentary October 23

U.S. Mail Bombs: Cesar Sayoc Charged After Campaign Against Trump Critics. S&P 500 ends at lowest since May as tech, internet stocks tumble. Stocks could rally 20% after this bruising rout, says Guggenheim’s Minerd — after that, watch out. Fitch says it no longer assumes Britain will get a smooth Brexit. U.S. economy grew by healthy 3.5% in third quarter. Dow, S&P 500 fall as dollar rises, yield curve flat. The global selloff has erased $5 trillion from stock and bond markets in October. Family’s farm at risk as tariffs sink prices. What’s a few trillion gone from investors’ portfolios?

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Market News and Commentary October 22

Paul Volcker, At 91, Sees ‘A Hell Of A Mess In Every Direction.’ U.S. fund investors pull most cash since June from stocks: Lipper. Netflix’s new $2 billion in borrowing raises Wall Street eyebrows. Trump: Migrant caravan contains gang members and terrorists. Counterterrorism official contradicts Trump: No sign ISIS or ‘Sunni terrorist groups’ are in caravan. Russia will target European countries if they host U.S. nuclear missiles: Putin. Two Wells Fargo executives go on leave of absence amid sales scandal review. Malls fear Sears bankruptcy signs will scare off buyers.

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Market News and Commentary October 18

Pat Robertson: Khashoggi Isn’t Worth Damaging U.S.-Saudi Relations. Fed plans to keep hiking interest rates despite Trump blowback. U.S. eyes more Venezuelan sanctions, but oil on backburner: U.S. official. Oil could fall further on rising U.S. supplies, says internal secret OPEC report. Investors are growing increasingly anxious about China. Italy’s debt crisis thickens. Goldman Sachs sees five more Fed rate hikes through end of 2019.

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Market News and Commentary October 17

As Khashoggi Crisis Grows, Saudi King Asserts Authority, Checks Son’s Power. Kelly, Bolton get in profane shouting match outside the Oval Office. Trump threatens to send MILITARY to seal southern border. U.S. existing home sales plunge to nearly three-year low in September. Julian Assange: Wikileaks co-founder takes legal action against Ecuador. Rosenstein defends Mueller probe as ‘appropriate,’ ‘independent.’ Honeywell says tariff-related costs to weigh on margins in 2019. China soybean imports set for biggest drop in 12 years amid tariff conflict. China September coal output hits nine-month high as new capacity starts up. Exxon Mobil bets big on China LNG, sidesteps trade war.

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Market News and Commentary October 16

Trump Tells AP He Won’t Accept Blame If GOP Loses House. Jamal Khashoggi’s killing took seven minutes, Turkish source tells MEE. Trump: ‘That would be bad’ if ‘great ally’ Saudis tied to Khashoggi’s alleged murder. Trump widens Fed critique, calls it ‘my biggest threat.’ Oil prices slump after large increase in U.S. stocks. U.S. housing starts, building permits fall in September.

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Market News and Commentary October 12

Maher: Trump ‘Sounds Like He’s Setting Up’ Martial Law. Italy must ‘calm down’ and stop questioning the Euro: Draghi. Biden: Trump is ‘trashing American values.’ Trump speaks to Saudi King, sends Pompeo for follow-up. Sears files for Chapter 11 bankruptcy in attempt to keep stores open for now. U.S. retail sales are soft for the second month in a row. Nearly half of Europe’s biggest stocks are in bear market.

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Market News and Commentary October 11

Dow Tumbles Over 500 Points, Bringing 2-Day Losses To More Than 1,300 Points. America’s obesity is threatening national security, according to this study. Oil supply and demand reach record 100 million barrels a day. May vows she will NEVER sign up to a Brexit deal that traps the UK in the customs union ‘permanently.’ IEA: ‘Expensive energy is back.’ China’s trade surplus with U.S. hits record. China auto sales plummet. Astronauts make harrowing escape, but Russian rocket failure roils NASA. Russia dossier author criticizes Trump, slams ‘strange and troubling times.’

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Market News and Commentary October 10

Trump Says Fed ‘Has Gone Crazy’ Following Stock Market Selloff. Report: Saudi Crown Prince ordered detention of journalist critic. UK surveyors see weakest house price outlook since Brexit vote – RICS. Manufacturers fighting Trump’s tariffs. Leaked Google research shows company grappling with censorship and free speech. Trump briefed on stock market sell-off: Sears prepares to file for bankruptcy in coming days: sources. Euro zone bailout fund head – no reason to expect Italy to lose market access.

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Market News and Commentary October 9

‘Extremely Dangerous’ Hurricane Michael Strengthens To Category 4 Storm. Fed’s Kaplan says he doesn’t expect a sudden spike in inflation. Haley announces she is resigning as UN Ambassador, says U.S. is respected again. Sales down 18% at VW, latest auto maker dented by emissions rules. Trump criticizes Fed rate increases again. Global financial stability risks rising with trade tensions, IMF says. HSBC to pay $765 million to settle U.S. mortgage securities mis-selling claim. WSJ: Britain, EU closer to Brexit deal. IMF warns some emerging-market countries could face ‘severely adverse’ capital outflows.

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Market News and Commentary October 6

The Trump Administration Just Escalated Its High-Stakes Competition With China. Colin Powell rips Trump on immigration, NATO, anti-press rhetoric. Russian official tied to Trump Tower meeting dies in helicopter crash. U.S. tariffs on China aren’t a short-term strategy. Brett Kavanaugh sworn in as U.S. Supreme Court justice. Donald Trump: Women ‘are extremely happy’ with Brett Kavanaugh. Erdogan says closely following case of missing Saudi journalist. Commercial banks donate $2.5 million to Senate Democrats for midterms. Deutsche Welle: Germany warns Russia over cyberattacks. Amazon is doubling down on its private label business, stoking ‘huge fear’ in some sellers. Banksy artwork self-destructs after £1m auction sale. Italy works on extending Alitalia loan deadline: source.

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Market News and Commentary October 5

Tech Stocks Tumble As Market Momentum Stalls. Job growth slumps in September, but the unemployment rate hits the lowest level since 1969. Top U.S. admiral warns of Russian submarine threat. Ford to cut jobs as it reorganizes salaried workforce. Netflix is down 15% from its high, and there could be more pain ahead. Consumer credit grows $20.1 billion in August, fastest pace in three months. Mattress Firm is about to close more than 200 stores. Canadian crude hits record low vs. U.S. amid pipeline bottlenecks. British stocks posts biggest weekly drop in six months on strong U.S. jobs report. Oil prices mark weekly gain ahead of Iran sanctions. Gas fracking to start in England next week after seven-year halt.

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Market News and Commentary October 4

Wall Street Stumbles As Bond Yield Climb Continues. Dow falls the most in 2 months on fears of rising rates as 10-year yield hits highest since 2011. The big hack – China used a tiny chip to infiltrate U.S. companies. Zuckerberg faces anger over Facebook executive’s Kavanaugh support. Oil markets could witness modest surplus into early 2019. Oil prices rise on Iran sanctions, outlook uncertain. Germany says no-deal Brexit not in UK, EU or German interests.

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Market News and Commentary October 3

Exclusive: Saudi Arabia, Russia Agreed In September To Lift Oil Output, Told U.S. Fed’s Powell sees ‘remarkably positive outlook’ for economy that may be ‘too good to be true.’ This bull market run has echoes of the late 1920s, Nobel Prize-winning economist Shiller says. U.S. Gross National Debt jumps by $1.27 trillion in fiscal 2018, hits $21.5 trillion. Italy budget concession hopes switch risk sentiment back on. Putin tells Trump to blame guy in the mirror for high oil prices. Mortgage fraud is getting worse as more people lie about their income to qualify for loans. Auto stocks tumble. Dollar hits six-week highs on hawkish Fed. New York investigating Trump tax dodging. Fed’s Evans says comfortable with a December rate hike.

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Market News and Commentary October 2

New Reports Question Kavanaugh’s Credibility On Past Drinking Behavior, When He Knew About Allegations. Iranian missile strike called a warning to U.S. military in Syria. Unraveling a Tesla mystery: Lots (and lots) of parked cars. Tax cuts provide limited boost to workers’ wages. Too much oil? Texas boom outpaces supply, transport networks. Ryanair warns on profit as strikes and rising fuel prices take toll.

Market News and Commentary October 1

Trump Hails ‘Great Deal’ On US-Canada-Mexico Trade. OPEC ‘powerless to prevent’ oil prices jumping toward $100 a barrel this year. Merkel warns Trump against ‘destroying’ UN. Saudi shelves $200 billion SoftBank Solar project: WSJ. Trump says he and Kim Jong Un ‘fell in love,’ praises relationship with North Korea. Yale classmate says Kavanaugh misled Congress on his drinking habits. Yale friend says Kavanaugh was a heavy drinker. Brent oil rises to four-year high ahead of Iran sanctions, traders eye more hikes.

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Market News and Commentary September 30

Russia Delivering Advanced Air Defense To Syria, Despite U.S. Objections. North Korea says ‘no way’ will disarm unilaterally without trust. Russian-U.S. tycoon boasted of ‘active’ involvement in Trump election campaign. Asian stocks lower on U.S.-China trade worries. Israel: IAEA failed to act on Iran’s ‘secret atomic warehouse.’ If Trump abandons globalism, American interests will suffer ‘irreparable harm.’ Turkey’s Erdogan opens mosque in German city of Cologne. The Fed could be hiking the U.S. into a recession, warns Peter Boockvar. Musk out as Tesla chair, remains CEO in $40M SEC settlement.

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Market News and Commentary September 29

Facebook Hack Exposed 50 Million Users’ Info — And Accounts On Other Sites. The upward march of oil prices shows few signs of stopping. Judge lets Democrats in Congress sue Trump over foreign payments. South Korea’s LG Display to cut jobs through voluntary retirement. Mexico says U.S., Canada could reach new NAFTA deal in 48 hours.

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Market News and Commentary September 28

Senate GOP agrees to one-week delay on Kavanaugh Supreme Court confirmation to allow for FBI probe

Italy hikes deficit goal, defies EU and rattles markets. Saudi Arabia in short-term oil fix, fears extra U.S. supply next year. Global funds raise U.S. stock holdings to three-and-a-half-year high. China says it won’t be pushed around by U.S. on trade.

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Market News and Commentary September 27

Fed Lifts U.S. Rates By Quarter Percentage Point. U.S. gasoline prices at seasonal four-year high ahead of midterm elections. CEOs are using the market boom to quietly cash in their own chips. IMF increases Argentina bailout package to $57 billion. A robot that can peel lettuce takes us closer to automating delicate farm work. Brett Kavanaugh accuser Christine Blasey Ford releases polygraph results showing ‘no deception’ in her account of assault. Only one in five adults want Rosenstein to leave: Reuters/Ipsos poll.

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Market News and Commentary September 26

BREAKING: Michael Avenatti Reveals Client Making ‘Gang Rape’ Allegation Against Kavanaugh. Oil continues to soar on supply concerns. China leads world stocks higher ahead of Fed rate decision. Qualcomm accuses Apple of giving its intellectual property to Intel. Pentagon innovation leader warns U.S. falling behind China.

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Market News and Commentary September 25

Some World Leaders Laugh As Trump Claims His Administration Accomplished More Than Others. Trump opened UN speech by bragging about his administration’s domestic achievements. PM May – No-deal Brexit better than current EU offer. The Fed has a lot to talk about besides higher interest rates. Stock investors should be wary of consumer confidence at an 18-year high. Savings rates still lag as Fed readies eighth increase of the cycle. As debt rises, the Government will soon spend more on interest than on the Military. Fed expected to raise interest rates and signal more hikes are coming. Oil continues to soar on supply concerns.

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Market News and Commentary September 24

Trump, Deputy Attorney General Rosenstein To Meet On Thursday. BIS warns global economy risks crisis relapse. NBC News/WSJ poll: Democrats hold the advantage in November’s elections. U.S. student debt might lead to the next financial crisis. Russia to supply Syria with air-defense system, raising tensions with Israel.

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