admin

Most of the 219 girls kidnapped from the town of Chibok by Boko Haram militants more than two years ago are still in captivity in a forest in northeast Nigeria. Amina Ali Nkeki, the first girl to be rescued was quoted as saying on Wednesday. “She says all of the others are still in the […]

The Federal Government through one of its twitter handle @AsoRock announced that its has approved a tax incentive for one of Alhaji Aliko Dangote’s companies to the tune of about 70%. The tweet read in part that the Federal Executive Council has approved a Memo for “Dangote subsidiary to fund and build Obajana-Kabba road using cement, […]Read More

Authored by Axel Merk via Merk Investments, Since the beginning of the year, the greenback has shown it’s not almighty after all; and gold – the barbarous relic as some have called it – may be en vogue again? Where are we going from here and what are the implications for investors? Like everything else, […]

A man wielding a knife was shot dead by police in Midtown Wednesday morning. According to ABC7, the shooting was on Eighth Avenue near West 50th Street just before 8:30 a.m. Police said a man was armed with a knife, and assaulting or threatening people with it. Police responded and confronted the suspect. One of […]

As an equal opportunity information-provider, we thought it worth noting that following yesterday’s panic-selling puke in precious metals, this morning we are greeted with panic-buying as Gold and Silver spike higher on heavy volume as US stocks open… 8,500 contracts in 4 minutes – or just over a billion dollars notional paper gold bid… Average: […]Read More

Stocks are now on borrowed time. Corporate buybacks have been the single largest driver of stock prices in the last quarter. Institutional investors have been net sellers for 15 weeks. And individual investors have been pulling capital out of stock funds in record amounts. This leaves corporate buybacks as the sole driver of stocks. But […]

Update: with every index solidly in the green, and the selling halted, the market can be restored: NYSE – TECHNICAL ISSUE RESOLVED * * * After yesterday’s plunge was unable to be stopped by a late day VIX slam; and this morning pre-open puke, there was only one thing left to do to stall the […]

When crude oil prices started to collapse, the great American unwashed were told – day after day – that low oil prices were “unequivocally good” for them. That myth was destroyed as rent, healthcare, and debt-reduction trumped consumer gains. However, as angry Americans are seeing every day now, gas prices at their local pump have […]

It all started with a speech by the Atlanta Fed’s Dennis Lockhart and San Francisco Fed’s John Williams yesterday who said that two rate hikes may be warranted this year. Both Fed presidents suggested that they continue to see two to three rate hikes this year. Lockhart also added that markets are currently more pessimistic […]

Submitted by Michael Shedlock via MishTalk.com, Not satisfied with economic distortions resulting from the redefinition of full-time employment to 30 hours for Obamacare purposes but 32 hours for every other purpose, President Obama is back at it. Today, by executive order, Obama doubled the threshold for overtime pay to $47,476 a year. The Labor Department […]

Following API’s smaller than expected draw overnight, DOE data showed an unexpedted 1.31m barrel build (3.5m draw expectations). This was offset by considerably bigger than expected draws in Gasoline and Distillates and Cushing oinventories rose less than expected. Crude production also fell once again, to its lowest since Sept 2014. The initial kneejerk was a […]

Previously we documented that as a result of the still low oil prices, largely a result of Saudi Arabian strategy to put high cost producers out of business and to remove excess supply, none other than Saudi Arabia has been substantially impacted, with the result being dramatic state budget, a sharp economic slowdown and  mass […]