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Plunging oil prices pull energy stocks lower, erasing gains

“On Tuesday, the Energy Information Administration said U.S. shale oil production will keep climbing in January, and the Wall Street Journal reported that oil production in Russia reached a record high in December” writes Marley Jay for seattletimes.com. NEW YORK (AP) — U.S. stocks are broadly lower Tuesday afternoon, and energy companies are falling after the price of crude oil plunged another 7 percent.The companies have taken huge losses this year as rising mortgage rates and prices have reduced home sales.Higher rates can slow economic growth, something investors are already…

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Donald Trump moves to ban bump stocks used in America’s worst mass shooting

“Donald Trump has officially moved to to ban bump stocks, the controversial devices that allow semi-automatic weapons to fire rapidly like automatic firearms” writes Stephen Harper for telegraph.co.uk. A senior Justice Department official said bump stocks will be banned from late March next year. Shortly after his comments the justice department announced it had started the process to amend firearms regulations to define bump stocks as machine guns.Following the Las Vegas shooting the devices became a focal point in the national gun control debate.Bump stocks were used by gunman Stephen Paddock…

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Trump bans ‘bump stocks’ used in mass Las Vegas shooting

“While bump stocks are not widespread, they are still plentiful in the market, with high sales over the internet and in big-box stores, the officials said on the call” writes Midwest Communications Inc for 95kqds.com. After the March shooting at Marjory Stoneman Douglas High School in Parkland, Florida, the retailer raised the minimum age for buying guns at its stores.The Trump administration is already bracing for a lawsuit from the National Rifle Association or other gun ownership groups.WASHINGTON (Reuters) – The Trump administration said on Tuesday it had banned the…

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The Fed’s next decision is its most important in recent memory — and the future of the stock market is at stake

“The blonde-haired elephant in the room when it comes to the Fed decision is President Donald Trump’s continued insistence upon criticizing the Fed” writes Joe Ciolli for businessinsider.com. They’ll devour any bit of guidance from Powell and his colleagues for any hint of what’s ahead for interest rates.If the central bank signals too much future monetary tightening for the market’s tastes, the 10-year bull market could meet its demise.A big part of that stems from the turbulence that’s rocked the stock market in recent weeks.Read more:We just got the most…

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GE’s stock surges into correction territory of long-term downtrend

“The stock was the biggest gainer among components of both the SPDR Industrial Select Sector ETF XLI, +1.00% and the S&P 500” writes Reporter Editor for marketwatch.com. The stock was still down 40.6% over the past three months, while the industrial ETF has lost 19.6% and the S&P 500 has declined 12.0%.The stock has now run up 12% since it closed last Wednesday at $6.71, the lowest levels since March 2009; many chart watchers define a correction of a downtrend as rise of 10% to up to 20% off a…

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Greenspan tells stock investors: ‘Run for cover’

“Plunging stock markets and signs of slowing global growth may prompt the central bank to signal a slowdown in rate increases next year, analysts have said” writes Rachel Koning Beals for marketwatch.com. So, “at the end of that run, run for cover,” he said. “The [market] volatility is a function of how we speak, think and feel — and it’s variable,” Greenspan said in the interview. “Unless you can somehow radically change human nature and how we respond, this is what you’ll always get and have been getting.Alan Greenspan, the…

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Gold slips from 1-week high ahead of the Fed’s policy update

“The Fed will be joined by the Bank of Japan and the Bank of England in offering policy updates this week” writes Markets Commodities Reporter for marketwatch.com. Stock weakness can support gold, but gold’s haven popularity has been subdued for the most part so far in December.Gold prices on Tuesday slipped from the roughly one-week high they settled at a day earlier, with a weaker dollar limiting any losses for the precious metal ahead of a monetary policy update this week from the Federal Reserve.Traders also eagerly awaited hints from…

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Blue Apron tumbles below $1 for the first time

“Blue Apron shares fell below the $1 mark Tuesday for the first time as a publicly traded company” writes Jonathan Garber for businessinsider.com. And a few months later, Blue Apron’s announced it was having trouble keeping its customers.In May of this year, with the stock already trading near $2.75, the banks that took the company public said shares were only worth $3 apiece. Source: businessinsider.com Share This:

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An investment banker’s husband was charged with insider trading after he allegedly eavesdropped on her discussing a $2.6 billion M&A deal

“As the deal progressed, Cho allegedly used what he heard from her work to buy various call options for $4,124.49, eventually making $251,386.19 in profit” writes Meghan Morris for businessinsider.com. On multiple days, Cho’s trading made up 100% of the daily trading volume in Virgin stock, the SEC said.Bank of America and UBS led the deal for Alaska, but the SEC’s charge did not name either the investment banker’s employer or Cho’s accounting firm. Source: businessinsider.com Share This:

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Investors just poured a record amount into bonds as ‘extreme bearishness’ sends them fleeing from stocks

“Beyond the prospect of slowing economic growth, investors are being troubled by a handful of other notable headwinds” writes Joe Ciolli for businessinsider.com. Investors fleeing the stock market are seeking shelter in bonds to an unprecedented degree.Those investors reduced holdings in stocks by 15 percentage points over the same period, according to the data.On a global basis, a record $39 billion was yanked from stocks worldwide over the same period.These developments have pushed the market close to “extreme bearishness,” strategists at BAML wrote in a client note. Source: businessinsider.com Share This:

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