Yanis Varoufakis has just released a statement defending his work creating a parallel payment system during his time as finance minister.The statement, from “the Office of Yanis Varoufakis”, insists that he was fully authorised to carry out the work.It also criticises the media for their “far-fetched” articles, and denies the claim that he ever planned to hijack all taxpayers tax […]
REUTERS/Yiannis KourtoglouGreek flags are displayed for sale for one Euro at a shop in Athens, July 26, 2015.The Greek stock exchange will remain closed on Monday but might reopen on Tuesday after a one-month shutdown, official sources said.”It’s certain that it will not open on Monday, maybe on Tuesday,” a spokesperson for the Athens Stock Exchange told Reuters on condition […]
Ishares Nasdaq Biotechnology Index (IBB) has been on a tear in the last year, outperforming the NASDAQ and S&P 500 by multiples greater than 3x and 6x, respectively. This rapid appreciation has spurted chatter of a bubble forming in the biotech sector. Even US leaders have expressed a difference of opinion. Yellen, for example, stated back in July 2014 that the biotech industry […]
The Chinese government just announced that it will suspend stock trading on Sept. 3 and 4, according to the Shanghai Stock Exchange (h/t South China Morning Post’s George Chen) The official reason, as mandated by the securities regulator, is to commemorate the Japanese surrender (link in Chinese) that ended World War II.The motive you won’t find on any Chinese government […]
This is the response that Yellen gives a senator when asked if the Fed is too worried about the stock market.
“I would push back against the notion that we are unduly affected by the ups and downs of the stock market, we are certainly very focused on the fundamentals and economic statistics that describe where the economy is in terms […]
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.China’s sell-off will be felt far beyond its see-sawing stock markets. The month-long slide in share prices has called into question the country’s recent conversion to market dogma, while the state’s floundering response has exposed the limits of its grip on China’s financial system. Broader reforms may suffer.Some […]
« previous post | next post »Chǎogǔ 炒股 (lit., “stir-fry stock”) means playing with stocks and bonds (stock market speculation). This is probably THE hottest term in the PRC vocabulary today. The term itself is not in the following widely circulating cartoon, but the spirit of the term is very much present:Complete translation:rén zài zhèndì zài 人在阵地在 (lit., “people [rén […]
Myles Udland
Jun. 28, 2015, 4:19 PM
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REUTERS/Ralph OrlowskiAt least one trader is paying attention to 3 things on Monday: stocks, European bonds, and the euro.We’re just a few hours from the opening of futures markets in the US, and Wall Street strategist notes are starting to roll in. Over at Bank of Tokyo Mitsubishi, Chris Rupkey writes that right now, the Greek […]
Jay Yarow
Jun. 25, 2015, 1:45 PM
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REUTERS/Jim YoungObama in 2009.President Barack Obama says he saved the American economy … and its stock market.Obama did a victory lap on comedian Marc Maron’s podcast, WTF, earlier this week, and he said people’s lives are better today than they were four years ago, which is ultimately the goal of any presidency. “I can answer unequivocally, ‘Are […]
Episode 122: The DOW has broken below its 50 dma and the S&P500 is hovering just barely above its.More importantly, the S&P500 is only 0.5% above its 100 dma. If it breaks the 100 dma and doesn’t quickly recover, that’s a huge red flag because the 100 dma has been an extremely dependable support level.That being said, this is an […]
