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Daily News Breakdown 8/20/2015

20 Thursday Aug 2015

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  • 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
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Daily News Breakdown 8/19/2015

19 Wednesday Aug 2015

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  • 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 8/12/2015

12 Wednesday Aug 2015

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  • Daily Market Update
    • The Dow ended the day down 0.33 points or approximately 0.00%.
    • The S&P 500 ended the day up 1.98 points or approximately 0.10%.
    • The NASDAQ ended the day up 7.60 points or approximately 0.15%.
    • Oil ended the day up $0.22 at $43.30 a barrel.
    • Gold ended the day down $15.90 at $1,123.60.
  • China Blast Kills at Least 17 People

Two blasts rocked the Chinese port of Tianjin on Wednesday as over 300 people were injured and at least 17 people were killed including four firefighters.  The first blast was approximately three tons of TNT while the second was approximately 21 tons of TNT.

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Source: The BBC

The Chinese State controlled broadcaster China Central Television announced that a shipment of explosives had detonated.  However, like all news that comes out of China this cannot be independently verified.  The truth is we will most likely never know what happened on Wednesday.  For more information click here

  • More News From Today

For the rest of today’s earlier news click here