Markets News Oil 

Oil price drops on talk of increased global supply, slowdown in economic growth

“Oil prices dropped Monday, with talk of a possible release from global crude reserves, data from the International Monetary Fund showing a slowdown in global economic growth, and the potential for U.S. waivers on Iran oil sanctions, pushing prices for global benchmark Brent crude to their lowest finish in three months” writes Christopher Alessi for marketwatch.com. Traders also fretted over a potential slowdown in the global economy, which could hurt demand for oil.Fatih Birol, director of the International Energy Agency, also said at a private dinner last month that a…

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News 

China growth slows slightly in second quarter

“Quarter-on-quarter, growth looked steadier, rising to 1.8% in the second quarter from the first, the statistics bureau said” writes Chao Deng for marketwatch.com. Still, signs of slowdown in the second quarter abound.”We’ll see a further slowdown in the second half–and credit risks,” said Larry Hu, an economist with Macquarie Group.Economists estimate that the trade fight could shave 0.2 to 0.5 percentage point off China’s GDP growth in the coming 12 months. Source: marketwatch.com Share This:

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Markets News 

Starbucks’ Schultz urges investor support despite China concerns

“Schultz sees China as overtaking the United States as Starbucks’ top market, with the firm aiming to double cafe numbers there to 6,000 by 2022” reports businessinsider.com. China has been a sweet spot for Starbucks for the past few years, with a burgeoning cafe culture driving rapid growth even as the market saturated back home.Starbucks executive chairman Howard Schultz attends a press conference at the new Starbucks Reserve Roastery in Shanghai Thomson Reuters By Adam Jourdan SHANGHAI (Reuters) – Starbucks Corp’s outgoing Executive Chairman Howard Schultz said on Monday that…

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Futures News Oil 

Oil rises as Libya declares force majeure on supplies, but demand slowdown looms 

“Brent crude oil futures were at $78.06 per barrel at 0112 GMT, up 76 cents, or 1 percent, from their last close” writes unknown author for cnbc.com. Oil prices climbed on Tuesday after Libya declared force majeure on significant amounts of its supply, but rising overall output from OPEC as well as in the United States was dragging on markets. Overall, however, analysts said OPEC’s production policy as well as unplanned supply disruptions were currently the main price drivers. Source: cnbc.com Share This:

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US GDP revised down to lackluster 2 percent rate in Q1

“U.S. economic growth revised down to lackluster 2 percent rate in Q1, though economists expect big rebound in Q2” writes The Associated Press for seattletimes.com. But economists expect a significant rebound in the current quarter, forecasting a sizzling growth rate of 4 percent or more.WASHINGTON (AP) — U.S. economic growth in the first quarter was revised down to a lackluster 2 percent — a sharp deceleration and the poorest showing in a year.The first quarter GDP figure is a notable slowdown from 2.9 percent GDP growth in the fourth quarter…

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Markets News 

Stamp duty revenues plunge as housing market freezes

“A sharp slowdown in the housing market has sent tax revenues from stamp duty tumbling, threatening a once-reliable cash cow for the Government” writes Tim Wallace for telegraph.co.uk. It is a sharp turnaround from a boom between 2008 and 2009 when revenues more than doubled from a low of £4.8bn. One problem is the slowdown in the number of sales in London and a small dip in prices. “Historically London property has accounted for a large percentage of stamp duty receipts, so… Source: telegraph.co.uk Share This:

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News Stocks 

Snap stock extends slide after Needham cites ‘dramatic slowdown’ of brand spending

“Snap shares fell 5.3% in Tuesday’s session after a Cowen analyst lowered his price target to $9” writes Emily Bary for marketwatch.com. SNAP, -5.27% are down 1.9% in premarket trading Wednesday after Needham analyst Laura Martin lowered her current-quarter and full-year revenue estimates but increased her profitability estimates.Martin lowered her daily-active-user projections but raised her profit estimates due to “aggressive cost cutting.”. The stock is down 23% over the past 12 months, while the S&P 500 SPX, -0.40% has gained 13%. Source: marketwatch.com Share This:

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News Regulators 

A fourth Fed hike this year could trigger economic slowdown, strategist warns

“So when we get to a reported level of 2 percent for inflation, the usual central bank target, the inflation rate in reality will be only around 1 percent,” McCaughan argued” writes Natasha Turak for cnbc.com. While many may welcome the more hawkish stance from the Federal Reserve after a decade of record-low interest rates, one economist warned that it may actually lead to an economic slowdown.The Federal Reserve hiked rates for the second time this year Wednesday and is looking at two more for 2018 amid observations of a…

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Unhurried hurricanes: Study says tropical cyclones slowing

“Unhurried hurricanes also mean strong winds blowing more often over the same place and possibly more storm surge, Kossin said” writes Seth Borenstein for seattletimes.com. But when Atlantic storms hit land — like Harvey — the study said the slowdown is a significant 20 percent.Another study that came out recently, using computer models, concluded that future storm movements will slow because of climate change. Source: seattletimes.com Share This:

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Here Comes China’s Nasty Economic Slowdown

“Beijing’s campaign to tackle the scourge of corporate debt will reduce China’s economic growth by more than one percentage point annually in the medium term, according to Fitch Ratings” writes South China Morning for thestreet.com. Instead of easing monetary conditions, Beijing has been fine-tuning measures to manage the balance between cutting debts and maintaining overall economic stability. Source: thestreet.com Share This:

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