Under the bill, the Director of National Intelligence (DNI) would inform Congress on whether any foreign government has meddled in a vote within one month after every federal election. In case Russia "interferes" in the election process, "the bill mandates a set of severe sanctions that must be implemented within ten days of the DNI's determination." … [Read more...] about Just Business: Why US Energy Giants Are Opposing Anti-Russia Sanctions
Record high oil prices
UPDATE 2-U.S. crude output in May plummets by a record 2 mln bpd
NEW YORK, July 31 (Reuters) - U.S. crude oil production plummeted in May, falling a record 2 million barrels per day to 10 million bpd, the U.S. Energy Information Administration said in a monthly report on Friday. … [Read more...] about UPDATE 2-U.S. crude output in May plummets by a record 2 mln bpd
Wall Street rallies again; S&P 500 pulls within 2% of record
The Walt Disney Co. rose 8.3% for one of the biggest gains in the S&P 500 after the media giant reported a profit for the spring that beat Wall Street’s expectations, even if it was down sharply from a year earlier. It also said its streaming-video service has amassed more than 60 million paid subscribers in less than a year. … [Read more...] about Wall Street rallies again; S&P 500 pulls within 2% of record
U.S. economy starts long recovery as retail sales post record jump
The report from the Commerce Department on Tuesday followed news early this month that the economy created 2.5 million jobs in May. Layoffs are also ebbing and manufacturing activity is improving, though production remains at very low levels. The surge in retail sales last month recouped 63% of March and April's decreases. But the journey to recovery could be long and difficult as some parts of the country are experiencing a resurgence of COVID-19 infections. In addition, enhanced federal government unemployment checks will run out in July.Federal Reserve Chair Jerome Powell told U.S. lawmakers on Tuesday that "until the public is confident that the disease is contained, a full recovery is unlikely."Retail sales jumped 17.7% last month, the biggest advance since the government started tracking the series in 1992. Sales dropped a record 14.7% in April. Economists polled by Reuters had forecast retail sales would rise 8% in May.Retail sales fell 6.1% on a year-on-year basis in May. Even … [Read more...] about U.S. economy starts long recovery as retail sales post record jump
CANADA FX DEBT-C$ at 6-week high vs U.S. dollar after data shows jump in inflation
* Canadian dollar at C$1.3415 or 74.54 U.S. cents * Bond prices mixed across the maturity curve (Updates prices, adds comment) By Saqib Iqbal Ahmed July 22 (Reuters) - The Canadian dollar rose to a near-six-week high against its U.S. counterpart on Wednesday, after data showed Canada's annual inflation rate in June posted its biggest acceleration in more than nine years. The inflation rate spiked as restrictions imposed to curb the coronavirus outbreak were lifted, Statistics Canada said on Wednesday. The Canadian dollar was at C$1.3415 to the greenback, or 74.54 U.S. cents, stronger than Tuesday's close of C$1.3456, or 74.32 U.S. cents. "In terms of the Bank of Canada, I don’t think it has a lot of bearing on what the central bank plans on doing with policy," said Royce Mendes, senior economist at CIBC Capital Markets. "The key to remember here is the bank is trying to get a sense of the underlying pace of inflation. So this one-month move, while large in isolation, … [Read more...] about CANADA FX DEBT-C$ at 6-week high vs U.S. dollar after data shows jump in inflation
