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Monthly Archives: February 2018

The worst of the bond rout is yet to come, says Piper Jaffray

It all started with bond yields. Spiking yields spilled over onto the stock market in the past week, first triggering a nearly 666-point drop on the Dow last Friday and then sparking two declines of more than 1,000 points within just 4 days. The bond rout will continue with yields …

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Oil falls below $60 for first time in 2018, on pace for big weekly drop

A crushing oil price rout extended into a sixth day, with U.S. crude falling below $60 a barrel for the first time this year, as rising production, a strong dollar and a broad financial asset sell-off combined to weigh down the market. The drubbing started last Friday and gathered steam …

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Shares of Equifax dive because data breach was reportedly worse than everyone thought

Brendan McDermid | Reuters Equifax trading information and the company logo are displayed on a screen where the stock is traded on the floor of the New York Stock Exchange in New York. Shares of Equifax dove Friday after a newspaper said the credit rating company’s data breach last year …

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Trump doubtful about key part of his own infrastructure plan: NBC News

Mandel Ngan | AFP | Getty Images President Donald Trump during a roundtable discussion on the MS-13 gang in the Cabinet Room of the White House on February 6, 2018 in Washington, DC. The White House’s long-awaited infrastructure plan will reportedly rely heavily on “public-private partnerships” — but it’s still …

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Congress taps Federal Reserve to pay for budget deal

Aaron P. Bernstein | Reuters Jerome Powell looks on after a swearing-in ceremony February 5, 2018 at the Federal Reserve in Washington, DC. Congress, in need of revenue to help offset new spending, is raiding the Federal Reserve’s piggy bank. The maneuver was tucked inside the sprawling budget deal that …

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Snow! Airlines cancel 1,000+ flights as storm hits Midwest

Tim Boyle | Bloomberg | Getty Images Workers de-ice the wings of an American Airlines jet at O’Hare International Airport in Chicago, Illinois. Airlines were canceling flights and waiving changes fees Friday as a winter storm brought heavy snow to airports in the Midwest and Great Lakes. Nationwide, more than …

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Stifel’s Bannister sees one more ‘panic’ ahead before the bottom

The stock strategist who predicted the S&P 500’s latest plunge now expects further declines as Treasury yields rise. Barry Bannister, Stifel’s head of institutional equity strategy, said late Thursday that “the next shoe to drop” may be an increase in the 10-year Treasury yield versus the fed funds rate. “When …

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YouTube punishes YouTube star Logan Paul, again

Leon Bennett | Getty Images Logan Paul attends a film premiere in Culver City, California, on October 18, 2017 YouTube has punished Logan Paul, one of the video site’s biggest stars, again. This time the world’s largest video site has temporarily turned off all of the ads in Paul’s videos, …

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Stocks tracking for worst week since 2008, and it may get worse

When Wall Street sneezes, the rest of the world catches a cold, so says the old axiom. We’re now going to see what happens when Wall Street has the flu, says one market watcher. Since the bottom fell out of U.S. equities on Monday, stocks here and across the globe …

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Trump signs massive spending deal into law and ends year’s second government shutdown

Mandel Ngan | AFP | Getty Images President Donald Trump holds up a signed proclamation after he delivered a statement on Jerusalem from the Diplomatic Reception Room of the White House in Washington, DC on December 6, 2017 Trump, who said earlier this week he would “love” a government shutdown, …

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