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Tag Archives: Greece

Daily News Breakdown 8/20/2015

20 Thursday Aug 2015

Posted by Russell in Daily News Breakdown

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DMZ, Finance, Greece, Korea, News, North Korea, South Korea

  • Greece Prime Minister Steps Down

Greece’s Prime Minister, Alexis Tsipras, announced today that on Thursday he would resign.  This is a move that should cause concern among European Leaders as the future of the recently agreed upon bailout once again becomes shaky.

  • Shots Fired Across the DMZ

Tensions have mounted on both sides of the demilitarized zone as North Korea fired a rocket at South Korea prompting them to fire back with an artillery barrage.  Today North Korea threatened to “start a military action” unless South Korea ceases all propaganda broadcasts and removes their loudspeakers within 24 hours; something South Korea is not likely to do.

  • Interesting Articles from the web
  1. Credit Traders Gird for the Worst as Fed Loses Its Grip on Debt
  2. 10 Currencies That May Follow Tenge in Tumble Triggered by China

Daily News Breakdown 8/19/2015

19 Wednesday Aug 2015

Posted by Russell in Daily News Breakdown

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Equity, Federal Reserve, Finance, Gold, Greece, News, Oil, Stocks


  • Daily Market Update

    • The Dow ended the day down 162.61 points or approximately 0.93%.
    • The S&P 500 ended the day down 17.31 points or approximately 0.83%.
    • The NASDAQ ended the day down 40.29 points or approximately 0.80%.
    • Oil ended the day down $1.82 at $40.80 a barrel.
    • Gold ended the day up $11.00 at $1,127.90.
  • Oil Falls on US Supply Increase

Oil ended the day at a six year low due to a surprise increase in United States crude stockpiles.  The Energy Information Administration announced that crude supplies rose 2.62 million barrels last week compared to analyst estimates of a 820,000 barrel decline.

  • Greece Gets Its Money

Greece will receive the first installment in its new bailout package of 13 billion euros on Thursday as well as 10 billion euros set aside for the banks.  The deal was finalized Wednesday as lawmakers in Germany and the Netherlands gave their approval.  For more information click here

  • The Fed Delays Raising Rates Again

The Federal Reserve meeting minutes showed that the Fed believes it is not time to raise rates.  The minutes said that the Fed would like to see greater improvement in the jobs market before they increase rates but that the job market is almost ready.  For more information click here

Daily News Breakdown 8/18/2015

18 Tuesday Aug 2015

Posted by Russell in Daily News Breakdown

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Germany, Greece, Iran, Oil, Russia

  • Daily Market Update
    • The Dow ended the day down 33.84 points or approximately 0.19%.
    • The S&P 500 ended the day down 5.52 points or approximately 0.26%.
    • The NASDAQ ended the day down 32.35 points or approximately 0.64%.
    • Oil ended the day up $0.75 at $42.62 a barrel.
    • Gold ended the day down $1.50 at $1,116.90.
  • Russia Agrees to Sell Air Defense to Iran

As soon as next week Iran plans to sign a contract with Russia for four S-300 Surface-to-air systems.  In the emerging cold war between the West on one side and Russia and China on the other; this sale is clearly an attempt by Russia to gain a political ally in the Middle East as Iran continues to gain a dominate political foothold in the region.

  • Test Vote Proves Positive for Merkel

In a test vote by German Chancellor Merkel results showed a majority in favor of the current bailout proposal.

  • Islamic Climate Declaration

In a move certainly to irritate Saudi Arabia a collation of Arab religious leaders have called on oil rich Arab countries to stop oil production and to move 100% to renewable energy by 2050.  The declaration has already received support from the Grand Muftis of Uganda and Lebanon.  Along side the recent G-7 declaration this is further proof of the coming end of oil dominance in favor of renewable energy.

Mid-Day News Breakdown 8/11/2015

11 Tuesday Aug 2015

Posted by Russell in Daily News Breakdown

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Tags

GOP, Greece, Oil, Stocks

  • Dow Drops

The Dow is currently down approximately 218 points as Wall Street attempts to understand the move by China yesterday to devalue the yuan against the dollar.  The move by the People’s Bank of China is thought to be in response to China’s abysmal July export number.  This move by China clearly shows just how worried China’s ruling elite are about China’s economy.

  • Oil Drops Again

At one point today oil was down below $43 in a move not see since March.  The downward progression made by oil today was in response to concerns about weaker demand from China and an increase in production from Iran.  For a more detailed analysis click here

  • GOP Tries to Gain Support for an Iran Veto Override

The GOP House leader said in an interview in Jerusalem that there is a chance for a President Obama veto override as the debate regarding the Iran Nuclear deal continues to heat up.  Congress is almost certainly not going to pass the deal and with President Obama saying he will veto any resistance from Congress the GOP has been trying to get enough support to override a veto.

  • After All Night Negotiations Greece Has a Deal

While Greece has a deal negotiated with European Union heads of state, the deal still has to be ratified by Greece’s parliament in which the Syriza party, who oppose austerity, currently hold a majority.  Due to this fact I am not confident that the deal will indeed pass through parliament.  For a more detailed analysis click here

Daily News Breakdown 8/7/2015

08 Saturday Aug 2015

Posted by Russell in Daily News Breakdown

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Brazil, Greece, Jobs, Oil

  • Oil:
http://data.cnbc.com/quotes/%40CL.1
               Oil ended down $0.79 today for a final price of $43.75 or 1.77% below Thursday’s closing price.  The 1.77% drop was due to mounting concerns over a growing surplus in fuel as summer comes to a close.  In addition six oil rigs were added this week by United States energy firms for the third straight weekly increase.  This is despite the massive slump in oil prices driven by Saudi Arabia and the United States refusing to cut production as well as Iran’s potential entrance into the marketplace as international sanctions may be lifted.
  • Gold:
http://data.cnbc.com/quotes/%40GC.1/tab/2
Gold prices rose above $1,090 again to end at $1,093.30.  The brief, 0.37% rise was due to a less than expected United States jobs number.
  • United States July Jobs Report:
In July 2015 the United States economy added 215,000 jobs.  The majority of the increase came from the retail trade, health care, professional and technical services, and financial services sectors.  While this jobs report put the official unemployment rate at 5.3%, a seven year low, it still missed the analyst expectations of 225,000 jobs.  With that said, the miss of 10,000 jobs is minimal and shows that the economy is still on track.
  • Greece Migrant Crisis:
The situation of refugees from the Middle East and Africa coming to Greece has been declared “total chaos” by the UN refugee agency UNHCR.  With the economic crisis happening in Greece currently they cannot begin to deal with the 50,000 refugees that came to Greece in July of 2015.  This is just another nail in the coffin for the Greek government as the rest of Europe has balked at the thought of helping countries like Greece and Italy deal with the humanitarian crisis at the doorsteps of Europe.
  • Brazil’s Inflation Crisis:
With electricity costs rising inflation in Brazil has hit a 12-year high of 9.56% and with the International Monetary Fund predicting a 1.5% retraction in the Brazilian economy this year things are not looking very bright for the socialist country.  Adding to the countries hardships is the debt reduction plan consisting of cutting government spending and increasing taxes.
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