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Rod Rosenstein, No. 2 official at Justice Department, is expected to face grilling by House Judiciary Committee

“Jeff Sessions recused himself from the Russia investigation in March, no Justice Department official has been more important to the case than Rod Rosenstein” writes Chris Megerian for latimes.com. The role has placed Rosenstein under immense political pressure, and on Wednesday he’ll face questions from the House Judiciary Committee at a time when Republicans are raising doubts about Mueller’s investigation.The committee sharply questioned FBI Director Christopher Wray last week, particularly about Mueller’s decision to reassign an agent away from the Russia investigation in July.He denied accusations from Democrats that Republicans…

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Eli Lilly sets guidance for 2018, expects regulatory moves on pipeline drugs

“The company is now expecting 2017 EPS of $1.56 to $1.66, or $4.15 to $4.25 on an adjusted basis” writes Ciara Linnane for marketwatch.com. LLY, +0.05% on Wednesday set guidance for 2018, saying it expects EPS of $4.24 to $4.34, or adjusted EPS of $4.60 to $4.70. revenue is expected to range from $23.0 billion to $23.5 billion.The FactSet consensus is for EPS of $4.65 and revenue of $23.1 billion.Drug company Eli Lilly and Co. Source: marketwatch.com Share This:

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The Economy Grows? Buy Tech! The Yield Curve Flattens? Also Buy Tech!

“To investors, it seems like big technology firms can do no wrong: Even signs of economic worry could be good news for them” writes Jon Sindreu Wsj for wsj.com. After eight years of continued expansion, some analysts are worried about the U.S. yield curve, which is now at its flattest since 2007, before the financial crisis. A flattening yield curve can […].  Source: wsj.com Share This:

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Markets News 

LCG Shares Trading Live on NEX Growth Market – LSE Delisting in the Cards?

“On the heels of a tough couple of fiscal years, London Capital Group (LCG) (LON:LCG) has found itself trading on NEX Growth Market Wednesday” reports financemagnates.com. As of 8:00 BST Wednesday, LCG has gone live on NEX’s Growth Market, with trading of its entire issued share capital consisting of 380,531,519 fully paid ordinary shares at a rate of 5 pence. Source: financemagnates.com Share This:

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Markets News Regulators 

Markets muted ahead of the Fed meeting later in the day

“Meanwhile, both the AUD and NZD surrendered gains against the USD and are pretty much trading unchanged for the day” reports forexlive.com. AUD/USD got rejected at levels that I pointed out earlier here It looks like markets are taking a breather before we dive into the FOMC storm later.AUD/USD got rejected at levels that I pointed out earlier  Meanwhile, both the AUD and NZD surrendered gains against the USD and are pretty much trading unchanged for the day. Source: forexlive.com Share This:

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Crypto News 

But What Do All These Words Mean? Cryptocurrency Glossary for the Layman

“At a crypto exchange, one can buy and sell cryptocurrency using fiat money and cryptocurrency” reports financemagnates.com. Worldwide, the amount of electricity used in Bitcoin mining is equal to roughly 10% of the electricity needs of the entire United Kingdom.A block in the blockchain is created when a preset amount of information has been processed on the network. Source: financemagnates.com Share This:

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Watchdog Calls For New Laws To Stamp Out Bullying Of MPs

“A watchdog has called for new laws to be put in place to stamp out bullying of MPs and Parliamentary candidates” writes Kate Forrester for huffingtonpost.com. The independent watchdog wants Theresa May to bring forward new legislation to shift the liability of illegal online content towards social media companies, and put more pressure on them to take down offensive material more quickly. Source: huffingtonpost.com Share This:

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EU’s Mogherini: Preserving nuclear deal is ‘an absolute must’

“Civil nuclear cooperation is also integral part of the deal – and let me stress here, as the debate refers to the Iran nuclear deal, I am focusing here on the implementation of the deal and all the nuclear related parts of it” reports tehrantimes.com. Since we reached the nuclear deal, our engagement with Iran has entered into a new phase.Preserving the deal is our shared security interest, and the best way for the United States to address their security concerns which are also ours, is in close cooperation with…

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Markets News Stocks 

The ghosts of the financial crisis are haunting investors 9 years later

“Now, nearly nine years and a 300% stock market rebound later, stock investors are still grappling with the ghosts of the financial crisis, even as the bull market rages on” writes Joe Ciolli for businessinsider.com. As soon as major indexes slip a bit, bullish investors are waiting there to scoop up more exposure at more reasonable valuations.This so-called “dip buying” has driven a great deal of equity strength during the bull market.The market crash of 2008 was the worst anyone could remember.For another example, look no further than the second…

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