Wall Street appeared headed for a modest upswing when trading starts on Tuesday, as global markets fluctuated, a day after a market rout pushed the S&P 500 into a bear market with losses of more than 20 percent from its recent peak.
S&P 500 stock futures rose on Tuesday, and European markets climbed higher in early trading but failed to hold onto their gains. After an initial steep sell-off, many markets in the Asia-Pacific region recovered some their losses.
In another sign that some market jitters had eased, government bond yields — a measure of borrowing costs — pulled back from their highs.
Still, global markets are on shaky ground as multi-decade highs in inflation, supply-chain shortages and geopolitical tensions weigh on the outlook for growth around the world.
In the United States, inflation is accelerating at its fastest pace since 1981, amplifying worries about the direction of the economy as surging prices squeeze household budgets and company profits. As gas, food, rents and other expenses rise sharply, the Federal Reserve, at its meeting this week, is expected to discuss making the biggest interest rate increase since 1994. It will announce its latest policy decision on Wednesday. …
Wall Street Poised for Modest Rebound as Economic Pressures Persist
U.S. futures indicated a potential recovery on Wall Street, which had closed in bear market territory, while European and Asian stocks also rose.
Multi-decade highs in inflation, supply-chain shortages and geopolitical tensions have left global markets on shaky ground. Follow business updates.,,,
“So this is the plan in which in seven different states, even though Trump had lost, the Trump campaign, with Rudy Giuliani as the puppet master, got these people to create these fake documents that said they were the “duly authorized” electors and have them sent to the national archives to say that the vote should go for Trump in their state.
Two things that I will just spotlight: One, we basically know the Justice Department is criminally investigating the scheme. That’s a big deal. That means they have the predicate to open those investigations. And CNN reported a direct quote from the subpoenas that had been sent to the Georgia fake electors. It asked them to cooperate and tell them about all the communications with any agents of Donald J. Trump. Not Donald J. Trump campaign, Donald J. Trump. So they’re starting to draw a direct line to Trump and Giuliani’s fingerprints are all over this.
So when we talk about what is Merrick Garland investigating, I think that’s just a piece of the puzzle. There’s six other pieces he needs to be investigating, but that’s a big deal. And then the second is just to flag something for people that even close observers have missed. Mary McCord, who’s a professor at Georgetown, and a former very senior official at the justice department has filed from her center at Georgetown, a civil complaint in Wisconsin against the fake electors there. And the civil complaint includes, as its predicate, three criminal offenses, three federal criminal offenses. That’s important. I mean, she’s so well regarded. The fact that she thinks that those federal crimes attach to the scheme, is a sign of where these things might be going.”
” The letter was mailed to the agents of Mickelson, Dustin Johnson, Patrick Reed, Bryson DeChambeau and Kevin Na, and written by Terry Strada, the national chair of 9/11 Families United, an organization of family members of those murdered in the terrorist attacks of Sept. 11, 2001, as well as survivors. Strada, whose husband was among the thousands killed in the attacks, pleaded with the American golfers to reconsider their decisions to chase big paydays on the LIV tour despite Saudi Arabia’s role in 9/11.
“Please, do not insult our loved one’s memories and take the pathetic position, as one of your foreign colleagues did last week, claiming you are ‘just golfers playing a game’ or blandly treating the evils of the Saudi regime as ‘human rights’ concerns,” Strada wrote. “You are all Americans, keenly aware of the death and destruction of September 11. Whether it was the appeal of millions of dollars of hard cash, or just the opportunity to prosecute your professional grievances with the PGA [Tour], you have sold us out. This is a betrayal not only of us, but of all your countrymen.”
Later in Mickelson’s presser, another reporter tried again. Mickelson didn’t change tune.
“I think I speak for pretty much every American in that we feel the deepest of sympathy and the deepest of empathy for those that have lost loved ones, friends in 9/11,” he added. “It affected all of us, and those that have been directly affected I think – I can’t emphasize enough how much empathy I have for them.”
Shortly after Mickelson’s comments, Strada released a statement.
“Phil knows exactly what he’s doing, and he and his fellow LIV golfers should be ashamed,” she said. “They are helping the Saudi regime ‘sportswash’ their reputation in return for tens of millions of dollars, at the very same time our government is rolling out more damning evidence of Saudi culpability in the 9/11 attacks. As the PGA Tour commissioner said Sunday ‘you’d have to be living under a rock’ to not understand the implications of involving yourself with the Saudis.”
i think the grieving survivors are asking for something they won’t get and don’t need.
push people hard enough and they will always take money over shows of sympathy. and any sportswashing the Saudis get from the tournament will be litle noted nor long remembered.
my friends in Ireland nursed their grievance against the Protestants for 600 years. It didn’t get them anything. letting go of it a few years ago bought them peace in our time.
not that i am forgiving MBS, but I would deal with the devil to save one soul.
Midway through primary season, the party has nominated several candidates who deny the 2020 outcome for posts that will have significant sway over the 2024 presidential election.
As the halfway point nears of a midterm year that is vastly friendlier to Republicans, the party’s voters have nominated dozens of candidates for offices with power over the administration and certification of elections who have spread falsehoods about the 2020 presidential contest and sowed distrust in American democracy.
The only way to restore trust, these candidates say, is by electing them.
In Michigan, Pennsylvania and now Nevada, Republican voters have elevated candidates who owe their political rise to their amplification of doubts about Joseph R. Biden Jr.’s victory, and who are now vying in elections for governor, secretary of state and attorney general — offices that will hold significant sway over the administration of the 2024 presidential election in critical swing states.
The rise of election deniers is far from over. Primary contests coming later this month in Colorado and in early August in Arizona and Wisconsin will provide more clarity on the depth of Republican voters’ desire to rally behind candidates devoted to the false idea that the 2020 election was stolen from former President Donald J. Trump.
With Republicans widely predicted to make gains in November, it is possible that 2023 will bring newly installed far-right officials willing to wield their influence to affect election outcomes and a possible Supreme Court ruling that could give state legislatures unchecked power over federal elections. Even some Republican candidates and officials who for a time defended the 2020 results as legitimate have begun to question whether Mr. Biden’s victory was on the level. …
Policymakers announced a large interest rate increase to rein in prices while trying to keep the economy from falling into a deep downturn. “We’re not trying to induce a recession,” the Fed chair said. The S&P 500 rose 1.4 percent.
The Federal Reserve raised interest rates by three-quarters of a percentage point on Wednesday, its biggest move since 1994, as the central bank ramps up its efforts to tackle the fastest inflation in four decades.
The big rate increase, which markets had expected, has underlined that Fed officials are serious about crushing price increases even if it comes at a cost to the economy. …
Whether the rate increase will affect your student loan payments depends on the type of loan you have.
Current federal student loan borrowers — whose payments are on pause through August — aren’t affected because those loans carry a fixed rate set by the government.
But new batches of federal loans are priced each July, based on the 10-year Treasury bond auction in May. Rates on those loans have already jumped: Borrowers with federal undergraduate loans disbursed after July 1 (and before July 1, 2023) will pay 4.99 percent, up from 3.73 percent for loans disbursed the year-earlier period.
Private student loan borrowers should also expect to pay more; both fixed and variable-rate loans are linked to benchmarks that track the federal funds rate. Those increases usually show up within a month. …
(One had better hope. Meanwhile, buying opportunities abound.)
Wall St. poised for modest rebound as global markets wobble
NY Times – June 14
Light at the end of the tunnel?
“So this is the plan in which in seven different states, even though Trump had lost, the Trump campaign, with Rudy Giuliani as the puppet master, got these people to create these fake documents that said they were the “duly authorized” electors and have them sent to the national archives to say that the vote should go for Trump in their state.
Two things that I will just spotlight: One, we basically know the Justice Department is criminally investigating the scheme. That’s a big deal. That means they have the predicate to open those investigations. And CNN reported a direct quote from the subpoenas that had been sent to the Georgia fake electors. It asked them to cooperate and tell them about all the communications with any agents of Donald J. Trump. Not Donald J. Trump campaign, Donald J. Trump. So they’re starting to draw a direct line to Trump and Giuliani’s fingerprints are all over this.
So when we talk about what is Merrick Garland investigating, I think that’s just a piece of the puzzle. There’s six other pieces he needs to be investigating, but that’s a big deal. And then the second is just to flag something for people that even close observers have missed. Mary McCord, who’s a professor at Georgetown, and a former very senior official at the justice department has filed from her center at Georgetown, a civil complaint in Wisconsin against the fake electors there. And the civil complaint includes, as its predicate, three criminal offenses, three federal criminal offenses. That’s important. I mean, she’s so well regarded. The fact that she thinks that those federal crimes attach to the scheme, is a sign of where these things might be going.”
https://slate.com/news-and-…
Good for them.
” The letter was mailed to the agents of Mickelson, Dustin Johnson, Patrick Reed, Bryson DeChambeau and Kevin Na, and written by Terry Strada, the national chair of 9/11 Families United, an organization of family members of those murdered in the terrorist attacks of Sept. 11, 2001, as well as survivors. Strada, whose husband was among the thousands killed in the attacks, pleaded with the American golfers to reconsider their decisions to chase big paydays on the LIV tour despite Saudi Arabia’s role in 9/11.
Later in Mickelson’s presser, another reporter tried again. Mickelson didn’t change tune.
Shortly after Mickelson’s comments, Strada released a statement.
‘Should be ashamed’: 9/11 families respond to Phil Mickelson’s ‘deep empathy’ comments
emphasizing my empathy
i think the grieving survivors are asking for something they won’t get and don’t need.
push people hard enough and they will always take money over shows of sympathy. and any sportswashing the Saudis get from the tournament will be litle noted nor long remembered.
my friends in Ireland nursed their grievance against the Protestants for 600 years. It didn’t get them anything. letting go of it a few years ago bought them peace in our time.
not that i am forgiving MBS, but I would deal with the devil to save one soul.
Far-Right Republicans Press Closer to Power Over Future Elections
NY Times – June 15
Fed Takes Aggressive Action in Inflation Fight
NY Times – June 15
What the Fed’s rate increase means for credit cards, car loans and student loans
NY Times – June 15