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JJonesmx: Congress passes funding bill to delay government shutdown until Dec. 21
United States Senate chamber. (United States Congress/Released)
DECEMBER 06, 2018 LAURA WIDENER
Both chambers of Congress have passed a funding bill ahead of the Dec. 7 deadline to delay a government shutdown.
The resolution will prevent the government from shutting down until Dec. 21, Reuters reported.
The measure was passed in the House early Thursday. Shortly after, the Senate also passed the measure.
“The #Senate passed by VOICE VOTE, H.J.Res. 143, further continuing appropriations for FY 2019 (2 week [continuing resolution]),” the Senate Press Gallery tweeted Thursday afternoon. Link
2Cents: Note.......ISX closure 12/10 officially announced
ISX last trading session for the year is 12/25 officially announced
ISX first trading session for 2019 is 1/02 officially announced
Don961: red card option beginning ??...imo
The prime minister assigns two banks to the functions of the Minister of Justice and the Agency
Politics, security and economyThursday 6 December 2018 - 10:00 pm
Prime Minister Adel Abdul-Mahdi issued a decree on Thursday ordering the Minister of Construction, Housing and Municipalities, Benek Rikani, to be appointed Minister of Justice.
"Pursuant to the powers granted to us under Article 78 of the Constitution and based on the republican decree on our mandate to form the Council of Ministers, we decided to cancel Diwani Order No. (23) of 2018 issued under the Office of the President of the Council Ministerial Resolution No. 6/59/23 of 25/10/2018 ".
Diwani said that he "entrusts the two ministries Abdullah Rikani, Minister of Construction, Housing and Municipalities with the functions of the Minister of Justice in addition to his duties, and implement the order from the date of issue (6 December 2018)."
And two banks of Rikani belonging to the Kurdistan Democratic Party, received on 28 October, his duties in the Ministry of Construction, Housing and Public Municipalities of former Minister Ann Nafie Oussi, after being sworn in before the House of Representatives within the cabinet cabinet Adel Abdul Mahdi.
It is noteworthy that the justice portfolio within the incomplete ministries of the new government of Abdul Mahdi because of differences over the candidates. link
Marcia3: Oh...this is promising. Looks like Mahdi is moving forward despite all the brats in the cafeteria with fist fights and food fights. Way to go, Mahdi...just get it done and keep going.
Chicano98: When I hear Red Card I think of soccer red cards. What does red card mean exactly? I've tried to look back in the forums to see the starting of that meaning. Any help would be appreciated.
Boxman: The red card was Madhi, saying the remaining new members of the GOI needed to be agreed upon and approved, or he would use a "red card" and select the new members without their approval..if memory serves me correctly
Tishwash: Zimbabwe has billions it is not exploiting, says China
China says Zimbabwe is not adequately exploiting opportunities it is presenting because officials in Harare are not adequately familiarising themselves with Beijing's development documents.
China's acting ambassador to Zimbabwe, Zhao Baogang, told editors during a briefing in Harare yesterday that Beijing's multibillion dollar opportunities for Zimbabwe under the Belt and Road Initiative and the Forum for China-Africa Co-operation [FOCAC], were not being taken up by Harare.
He said each time he engaged Zimbabwean officials on the Belt and Road Initiative and FOCAC, it seemed the officials had not read the documents pertaining to the two programmes.
"I just want to stress that whether we are government officials, diplomats, or media people, we have to read the documents," Baogang told editors who attended an event at the Chinese embassy in Harare.
China, the world's second largest economy, has set aside $60 billion for development projects in Africa under the Belt and Road Initiative, and another $60 billion under FOCAC.
"I just give my constructive proposals and sincerely wish that everyone will come and read them," the acting ambassador said.
"This is the blueprint for the development of relations between China and those countries on the Silk Road route. It is also the roadmap for relations with African countries. If you don't read [the documents], you will not come up with very good projects."
The acting ambassador added: "Under the Belt and Road Initiative, we have already established the AfriAsia Infrastructure Investment Bank, New Development Fund, and the Silk Road Fund. These are the financial tools. They are financial institutions. They have money and the capital."
And, under FOCAC, there is the China Africa Development Fund, which offers special loans for the development of small and medium enterprises in Africa.
The ambassador said Zimbabweans were not exploiting this facility.
"Abundant resources are there and they are just waiting for you," he said. "If you don't make use of them, I feel it would be a pity that I will really regret. I hope we will do some research on the two documents adopted by the Forum for China-Africa Co-operation."
The Chinese diplomat said he was aware of Zimbabwe's urgent need for funding to accelerate the reconstruction of the country under President Emmerson Mnangagwa who is keen to rebuild it into a middle-income economy by 2030.
Zimbabwe is part of the Belt and Road Initiative, which involves a monumental US$1 trillion worth of planned investments to build railways, ports, and other infrastructure in 65 countries across three continents. link
Courtesy of Dinar Guru
Breitling …the price per barrel is going down. So what do they [Iraq] do? They can do what you and I are speculating on and add value to their currency but there are other stuff also.
Iraq wants to compete in the American markets. We can do trade deals with them. So that’s why Iraq shut the door on Iran because they’re looking for the same type of deal that Saudi Arabia had.
So now we have them in our pocket.
Article: “Iraq denies report on Trump requesting oil for return for Baghdad war”
I’ll tell you what’s going on. This is not something you’ll read in the articles.
We are trying to do deals with oil markets with Iraq but it’s completely separate from what this is talking about…we know what Iraq needs to survive and we’re offering them a way out so that they’re in our camp.
A looming death cross for the S&P 500 highlights a stock market in tatters
Published: Dec 6, 2018 2:29 p.m. ET
The S&P 500’s 50-day moving average hasn’t fallen below its 200-day since April 22, 2016, says Dow Jones Market Data Death-cross watch.
The S&P 500 index is set to join the ranks of market benchmarks forming that dreaded Wall Street chart pattern: the death cross.
A death cross is setting up in the S&P 500 SPX, -1.63% , with the 50-day moving average at 2,763.56, on the brink of slipping below the 200-day moving average of 2,762.08, according to FactSet data.
A death cross is what chart watchers refer to as the point where the 50-day — a short-term trend tracker — crosses below the 200-day, which is used to define the longer-term trend. Many believe the cross marks the point where a shorter-term decline graduates to a longer-term downtrend.
Given the S&P 500’s nearly 2% nose dive on Thursday — collapsing in tandem with the Dow Jones Industrial Average DJIA, -1.84% and the Nasdaq CompositeCOMP, -0.84% — a breach of the large-cap index’s short-term trend line beneath the 200-day seems likely to take hold as early as Friday.
If so, it would mark the first time the 50-day MA has fallen below the 200-day for the S&P 500 since March 22, 2016, according to Dow Jones Market Data.
The move for the benchmark comes amid a series of bearish patterns that have cropped up in equities and fixed-income markets, highlighting growing concerns about the durability of a bull run in stocks that has lasted about a decade as the economy’s vital signs have also been strong, in a long-running if measured rebound from the 2007-09 financial crisis. Indeed, more than half of the S&P 500’s components have produced death crosses.
Thursday’s slump — coming after bond and stock markets were closed during a day of mourning following the death of the 41st U.S. president, George H.W. Bush — has been attributed to further signs that a U.S.-China trade spat may not be resolved soon, even after a detente was described as having been forged over the weekend on the sidelines of the G-20 summit in Argentina, offering investors a reason to be sanguine.
Canadian authorities arrested Huawei Technologies Co.’s chief financial officer, reportedly at the U.S.’s behest, fanning fears of another escalation in tensions between the world’s two largest economies, with Chinese officials demanding the release of Meng Wanzhou, who was arrested on Dec. 1.
A number of strategists have pointed out that a recent run of death crosses appearing in the market — a death cross formed in the small-cap Russel 2000 index RUT, -1.16% last month — can be used as tools for those looking to re-enter beleaguered assets.
“As I mentioned in the previous article about the Death Cross forming in the Nasdaq Composite, the apparition of this infrequent omen does not necessarily mean the end of the world. In fact, it has occurred in the S&P 500 four times since the start of the market cycle that began in March of 2009,” wrote Nathan Edwards, financial planner and wealth manager at IMG Management, in a recent blog.
But as MarketWatch’s Tomi Kilgore writes, the ominous formation also is a sign of how viciously equity markets have unraveled in the past several weeks. More than half of the S&P 500’s 11 sectors have seen death crosses, and a chunk of the index’s constituents are in bear markets, having declined at least 20% from a recent peak. Both the S&P 500 and the Nasdaq are in correction, usually defined as a 10% drop from a peak.
With those unsightly technical developments at play, crude-oil futuresCLF9, -2.33% have been plunging, and bond yields, which draw safety investment are tumbling — fast. The 10-year Treasury note TMUBMUSD10Y, -1.50% yielded 2.85% at last check, down from 2.92% on Tuesday. Bond prices rise as yields fall.
Moreover, a narrowing differential between the benchmark 10-year Treasury and the 2-year Treasury note TMUBMUSD02Y, -2.30% , known as the yield curve, is flattening and threatens to invert, a feature of the fixed-income market that has presaged every recession since 1975.
On their face, developments in bonds and oil suggest that investors are doubtful about the enduring health of the global economy in years to come.
To be sure, this may be a perfect opportunity for long-term investors, but, presently, it may also appear that all is not right with this bull market. Or, as Michael Antonelli, equity sales trader at R.W. Baird & Co., told the Wall Street Journal on Thursday: “Everything feels out of control right now.”
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