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Wall Street eyes low rates, earnings after Brexit rout

Traders work on the floor of the New York Stock Exchange (NYSE) in New YorkU.S. companies do stand to lose from Britain's divorce from the EU, a process expected to take two years to negotiate. Fed Chair Janet Yellen is scheduled to speak at an event in Portugal on Wednesday and investors will want to know how she sees the so-called Brexit changing the outlook for the U.S. economy and interest rates.

Worst day in 10 months as Wall Street reacts to 'Brexit'

Traders work on the floor of the NYSEBy Rodrigo Campos NEW YORK (Reuters) - The S&P 500 turned negative for the year-to-date on Friday as Wall Street suffered its largest selloff in 10 months after Britain's decision to leave the European Union caught traders wrong-footed. In the busiest trading volume for a single session in nearly five years, financial stocks led the decline on the S&P 500 with a 5.4 percent drop -the largest for the sector since November 2011. The S&P 500 lost all the year's gains and suffered its largest decline since late August last year.

Robo-adviser Betterment suspended trading during Brexit upheaval -WSJ

A trader from BGC, a global brokerage company in London's Canary Wharf financial centre reacts during trading(Reuters) - Betterment LLC, an automated financial adviser, suspended all trading on Friday morning as Britain's vote to quit the European Union sent a shock wave through global financial markets, The Wall Street Journal reported. Clients were not aware of the halt, which ran from the market's 9:30 a.m. open until noon, the Journal said. (http://on.wsj.com/28VBXzp) The company, which manages $4.8 billion (3. ...

Russell reconstitution adds to U.S. market's volume, volatility

FTSE Russell reconfigured its indexes at the close in an annual event that triggered the highest trading volume for any session in almost five years and added to Friday's high volatility in the U.S. stock market. Trades in about 933 million shares representing $20.6 billion were executed in Nasdaq's "closing cross" in 0.8 seconds across some 2,464 Nasdaq-listed stocks, according to bourse. The closing cross brings together the buy and sell interest in specific Nasdaq, NYSE and NYSE MKT stocks and executes all shares for each stock at a single price, Nasdaq said.

Frankfurt or bust? Wall St. bankers in London ponder life post Brexit

A man has lunch surrounded by pictures of former British PM Churchill as a TV screen shows Britain's PM Cameron speaking after Britain voted to leave the European Union at a British pub in MadridBy Olivia Oran, Anjuli Davies and John O'Donnell NEW YORK/LONDON/FRANKFURT (Reuters) - Big Wall Street banks are scouring Europe to find a new home for their traders, bankers and financial licenses now that London is on shaky ground as the region's preeminent financial hub. Bank executives have been making contingency plans for months, but many were still surprised by the outcome of a British vote on Thursday evening to leave the European Union (EU). You might end up having a more fragmented financial industry in Europe." Among the questions being asked in C-suites across Wall Street: What's the best European city to house a broker-dealer, if not London?

Amid 'Brexit' selloff, some fund managers are bargain shopping

A trader works on the floor of the New York Stock Exchange (NYSE) after the opening bell in New YorkBy David Randall NEW YORK (Reuters) - Britain's unexpected decision to leave the European Union spurred a global stock market selloff that has inspired some opportunistic U.S. investors to move in the opposite direction. Operating on the belief that the initial rout might be an overreaction, even in some European stocks, several fund managers said on Friday they were buying up shares of big blue chips, domestic companies that are insulated from a lot of European activity and even European companies that might have been oversold. "We are looking to put cash to work in some of our favorite companies which are cheaper today," said Kevin Dreyer, the co-chief investment officer at Gamco Investors Inc, noting holdings such as razor blade and sunscreen-maker Edgewell Personal Care Co that were down more than 3 percent in morning trading.

What the Brexit Vote Means for the US Economy

What the Brexit Vote Means for the US Economy“Once the dust of the knee-jerk market reaction settles, we think that the UK's economy will clearly be the main victim, but also that the shock for the Euro area and the global economy is likely to be significant,” economists at Bank of America Merrill Lynch wrote to clients on Friday. How businesses and consumers respond will be key — and, ultimately, whether the U.S. economy takes a more significant hit as a result of the Brexit vote may depend in large part on the severity of the market selloff and whether Wall Street anxieties spread to Main Street.

Britain's financial sector reels after Brexit bombshell

Traders from BGC, a global brokerage company in London's Canary Wharf financial centre react as European stock markets openBy Sinead Cruise, Andrew MacAskill and Lawrence White LONDON (Reuters) - Britain's 2.2 million financial industry workers face years of uncertainty and the risk of thousands of job cuts after the country voted to quit the European Union, an upheaval that threatens London's dominance of finance. The 'Vote Leave' campaign fronted by a slew of Conservative lawmakers and financial industry veterans claimed victory over its 'Britain Stronger in Europe' rival, after 52 percent of Britons voted to support their plan to leave the 28-nation club. The news hammered the stock values of banks from mainland Europe to Wall Street giants with large operations in London, pushing job security fears to levels unseen since the financial crisis of 2008.

UK markets shudder after Brexit vote, sterling hits 31-year low

People eat and drink in the sunshine in London's Canary Wharf financial centreBy Jamie McGeever and Patrick Graham LONDON (Reuters) - Sterling plunged to its lowest in three decades and the value of London's big banks sank by the most since the 2008 financial crisis as Britain's shock vote to leave the European Union triggered turmoil on global financial markets on Friday. The damage to London's stock market eased as the day wore on, helped by expectations the weaker pound would help many UK companies and by the Bank of England's promise of 250 billion pounds of extra support. But shares in Royal Bank of Scotland and Barclays fell by around 18 percent and, even with an afternoon recovery, sterling's fall was the biggest since the system of free-floating exchange rates was introduced in the early 1970s.

Trading resumes in S&P 500, Nasdaq futures after breakers triggered

(Reuters) - E-mini futures on the S&P 500 and Nasdaq resumed trading early on Friday and were down nearly 5 percent after earlier hitting overnight limit thresholds following Britain's vote to leave the European Union. The drastic slump in index futures suggested Wall Street would open with deep losses. Futures on the Dow Jones industrial average fell 3.7 percent as investors feared Britain's exit from the European Union could shock the world's economy. (Reporting by Noel Randewich; Editing by Kim Coghill)


Top stories of the hour

U.S. grain prices drop after U.K. vote; stronger dollar may hurt meat exports
Sat, 25 Jun 2016 14:08:05 +0100

The U.K. vote to leave the European Union slammed U.S. grain prices Friday and created new challenges for agricultural companies struggling against a strong U.S. dollar.

NewsWatch: Brexit is big, but it’s probably not a ‘Lehman moment’
Sat, 25 Jun 2016 14:00:09 +0100

The U.K. vote to leave the European Union spawns global market turmoil, but it’s probably not a cataclysmic “Lehman moment,” analysts say.

U.K.’s sovereign credit rating outlook lowered to ‘negative’ at Moody’s
Sat, 25 Jun 2016 13:52:58 +0100

Moody’s Investors Service has today changed the outlook on the U.K.’s long term issuer and debt ratings to negative from stable. Both ratings are affirmed at Aa1.

Market Snapshot: Brexit-sparked volatility will continue to weigh on U.S. stock market
Sat, 25 Jun 2016 13:39:48 +0100

“Keep a stiff upper lip” is a phrase often used to describe the Brits for their fortitude and stoicism during times of distress. U.S. investors may need to borrow the cliché next week as uncertainty and volatility reign in the stock market.

Germany, France press Britain for quick EU divorce - Reuters
Sat, 25 Jun 2016 13:27:00 +0100


Germany, France press Britain for quick EU divorce
LONDON/BERLIN Germany and France led demands on Saturday for Britain to negotiate a quick divorce from the European Union, with Paris warning that populism will otherwise take hold after the vote to leave the bloc sent shockwaves around the world.
Top EU diplomats hold crisis talks on British exitWashington Post
Britain and EU Scramble to Respond After ReferendumNew York Times
Brexit referendum: EU ministers press UK for quick exitBBC News
Wall Street Journal -Bloomberg -Voice of America -WGN-TV
all 125 news articles »

Britain struggles to absorb Brexit's political and financial impact - Washington Post
Sat, 25 Jun 2016 13:25:04 +0100

Washington Post

Britain struggles to absorb Brexit's political and financial impact
Washington Post
LONDON — After a tumultuous Friday that saw world financial markets plummeting and the British prime minister announcing his intention to resign, British voters began to digest Saturday the full and enormous consequences of their historic decision to ...
Brexit: EU leaders demand quick UK exit as economic fallout growsCNN
Some Early Signs of 'Brexit' UpheavalNew York Times
Boris Johnson: London's Ex-Mayor Could Be Britain's Next Prime MinisterNPR
BBC News -Wall Street Journal -NBCNews.com -Voice of America
all 11,504 news articles »

At least 26 dead as historic floods sweep West Virginia - USA TODAY
Sat, 25 Jun 2016 13:21:42 +0100


At least 26 dead as historic floods sweep West Virginia
The bodies of three more victims of West Virginia's historic flooding were found overnight Saturday, according to county authorities, raising the death toll to 26 from torrential rains and high water that has destroyed more than 100 homes, washed out ...
Crews rescue the stranded in West Virginia flooding; 23 deadFox News
23 dead, including 2 kids, as flooding devastates West VirginiaNew York Daily News
West Virginia Floods: 23 Killed, Including Toddler, as Thousands Left Without PowerNBCNews.com
ABC News -Washington Post -fox6now.com -CBS News
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Donald Trump sells candidacy, golf courses - CNN
Sat, 25 Jun 2016 13:14:05 +0100


Donald Trump sells candidacy, golf courses
Turnberry, Scotland (CNN) As Donald Trump fielded reporters' questions from the 9th hole of Trump Turnberry Friday, the neatly manicured greens and nearby club house adorned with dazzling chandeliers and gold-plated fixtures imparted a sense of déjà vu ...
Politics|Is 'Brexit' the Precursor to a Donald Trump Presidency? Not So FastNew York Times
Trump hopes for boost from Brexit voteThe Hill
As markets roil from Brexit, Trump holds a ribbon-cutting at his golf resortWashington Post
NPR -Slate Magazine -Politico -The Atlantic
all 1,025 news articles »

2 Dead, Several Hurt After Fort Worth Dance Studio Shooting - ABC News
Sat, 25 Jun 2016 12:54:26 +0100


2 Dead, Several Hurt After Fort Worth Dance Studio Shooting
ABC News
Two people were killed and several others injured following a shooting at a nonprofit dance studio in Fort Worth, Texas, police said Saturday. Officers found one victim dead outside Studio 74, and several people were transported to hospitals — one of ...
At least 2 killed in shooting at Texas dance studioNew York Daily News
Texas police say 2 dead, several injured after shooting at nonprofit dance studio in Fort WorthThe Daily Nonpareil

all 32 news articles »

Mutual Funds Weekly: In Brexit fallout, keep calm and invest on
Sat, 25 Jun 2016 09:58:05 +0100

After Brexit, here’s how to keep anxiety from upsetting long-term investment goals.

With Orlando In Mind, Orange County Prepares For First-Ever Gay-Pride Parade - CBS Local
Sat, 25 Jun 2016 07:17:20 +0100

CBS Local

With Orlando In Mind, Orange County Prepares For First-Ever Gay-Pride Parade
CBS Local
SANTA ANA (CBSLA.com) — The people are ready, the tents are going up, pride is evident. With hours before Orange County's first gay-pride parade, organizers have one thing on their minds. Organizers told KCAL9's Stacey Butler after the attack in the ...
Crowds, tight security expected for Cincinnati pride paradeSTLtoday.com
Sadiq Khan tells London's Europeans they remain welcomeThe Guardian
Brexit the hot topic at london pride paradeDaily Mail
12NewsNow.Com -TheChronicleHerald.ca -Irish Times -RTE.ie
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Deadly Kern County wildfire grows to 46 square miles — and it's barely contained - Los Angeles Times
Sat, 25 Jun 2016 05:46:46 +0100

Los Angeles Times

Deadly Kern County wildfire grows to 46 square miles — and it's barely contained
Los Angeles Times
LAKE ISABELLA, Calif. — Near this man-made lake about 45 miles northeast of Bakersfield, a 2-acre fire has grown to an inferno that stretches over 46 square miles, killing two people and destroying at least 100 homes and other structures. The frantic ...
2 Dead, About 30000 Acres Burned in Erskine Fire in Lake Isabella; Gov. Brown Issues State of EmergencyKTLA
Fast-moving central California wildfire kills 2CBS News
California's Wildfire Fueled by Dead TreesWall Street Journal
Reuters -Fox News -USA TODAY -NBCNews.com
all 340 news articles »

The New York Post: Brexit vote may affect both the cost and complexity of European travel for Americans
Fri, 24 Jun 2016 23:25:30 +0100

The British people have voted — and that means important implications for travelers headed across the pond. The immediate effect? American visitors will pay less for travel to and within Europe and Britain.

Pentagon officials: Repeal of ban on transgender service members coming within weeks - Washington Post
Fri, 24 Jun 2016 22:15:29 +0100

Washington Post

Pentagon officials: Repeal of ban on transgender service members coming within weeks
Washington Post
The Defense Department is expected to repeal its ban on transgender service members within weeks, Pentagon officials said Friday, putting to rest a long and complicated debate that has stretched out for a year. Specifics of the repeal are still under ...
Ban on transgender troops to be lifted July 1USA TODAY
Pentagon ban on transgender troops 'likely' to be lifted next monthFox News
Report: Pentagon Plans to Repeal Ban on Transgender Troops July 1TheBlaze.com
ABC News -NBCNews.com -The Hill -The Week Magazine
all 90 news articles »

Obama names first national monument to LGBT rights - CNN
Fri, 24 Jun 2016 20:13:40 +0100


Obama names first national monument to LGBT rights
(CNN) President Barack Obama announced Friday he was designating the area around the Stonewall Inn in New York City as the country's first national monument to lesbian, gay, bisexual and transgender (LGBT) rights. "This week I'm designating the ...
Obama: 'There's still work to do' for gay communityThe Hill (blog)
With Stonewall, Obama designates first national monument to gay rights movementWashington Post
President Obama Designates Stonewall National MonumentWhitehouse.gov (press release)
New York Times -New York's PIX11 / WPIX-TV -NBCNews.com -Miami Herald
all 167 news articles »

Britain just gave the GOP a tremendous gift - New York Post
Fri, 24 Jun 2016 19:21:00 +0100

New York Post

Britain just gave the GOP a tremendous gift
New York Post
What a gift to the Republican Party. No sooner had Britons made their historic vote for independence than Donald Trump — already in Scotland — declared that they have “taken their country back” and called it a “great thing.” The next move ought to be ...

and more »

The Tell: Post Brexit, odds are up for Fed interest-rate cut
Fri, 24 Jun 2016 18:38:09 +0100

Rate hike out, rate cut in. A minority of fed-funds futures traders are now pricing in that the U.S. central bank will actually cut interest rates in its next meeting.

The Tell: Why Brexit crisis is a screaming buy for stock investors
Fri, 24 Jun 2016 18:19:28 +0100

The aftermath of Brexit could translate into great buying opportunities for investors, says the Irrelevant Investor Michael Blatnick.

Market Extra: Will the euro survive Brexit aftermath?
Fri, 24 Jun 2016 15:13:40 +0100

Britain isn’t a member of the euro, but the U.K.’s vote to exit the European Union lays bare fears the eurozone could revisit the worst of the debt crisis.

Outside the Box: Here’s what it would take for the U.S. to ban assault weapons again
Fri, 24 Jun 2016 13:29:16 +0100

Assault weapons have been banned in the U.S. before, but in a different political climate, writes Robert J. Spitzer

Obama uses Hiroshima visit as opportunity to urge no nukes
Fri, 27 May 2016 20:00:12 +0100

Obama uses Hiroshima visit as opportunity to urge no nukesHIROSHIMA, Japan (AP) — With an unflinching look back at a painful history, President Barack Obama stood on the hallowed ground of Hiroshima on Friday and declared it a fitting place to summon people everywhere to embrace the vision of a world without nuclear weapons.

Senate sleuths focus on ex-State Department aide in Clinton email ‘cover-up’
Fri, 27 May 2016 19:32:19 +0100

Senate sleuths focus on ex-State Department aide in Clinton email ‘cover-up’As Hillary Clinton seeks to rebound from a highly critical report from the State Department’s inspector general, Senate investigators and a conservative group are zeroing in on newly revealed evidence about the activities of a now retired State Department computer specialist in orchestrating what they charge was a “cover-up” of the former secretary of state’s email practices. The role of John Bentel, whose identity as a key figure in the email probes was first reported by Yahoo News on Wednesday, is expected to be one focus of questioning today when Clinton’s former chief of staff, Cheryl Mills, is deposed in a lawsuit brought by Judicial Watch over the State Department’s handling of Freedom of Information Act requests relating to Clinton’s emails, according to a source close to the case.

IOC: 23 positives in retests of samples from London Olympics
Fri, 27 May 2016 17:01:13 +0100

FILE - This Saturday, May 5, 2012 file photo shows the Olympic Stadium in the Olympic Park in London. The IOC says 23 athletes have tested positive in reanalysis of their doping samples from the 2012 London Olympics. The International Olympic Committee announced the results Friday, May 27, 2016 after retesting 265 London samples with improved techniques. The IOC says the athletes represent five sports and six countries. It did not name them. (AP Photo/Matt Dunham, file)LONDON (AP) — Nearly two dozen athletes tested positive in reanalysis of their doping samples from the 2012 London Olympics, adding to the more than 30 already caught in retesting from the 2008 Beijing Games.

G7 told to act on antibiotics as dreaded superbug hits U.S.
Fri, 27 May 2016 16:39:27 +0100

Colonies of E. coli bacteria are seen in a microscopic image courtesy of the CDCBy Kylie MacLellan and Ben Hirschler ISE-SHIMA, Japan/LONDON (Reuters) - Britain told the G7 industrial powers on Friday to do more to fight killer superbugs as the United States reported the first case in the country of a patient with bacteria resistant to a last-resort antibiotic. U.S. scientists said the infection in a 49-year-old Pennsylvania woman "heralds the emergence of truly pan-drug resistant bacteria" because it could not be controlled even by colistin, an antibiotic reserved for "nightmare" bugs. In Japan, British Prime Minister David Cameron said leading countries needed to tackle resistance by reducing the use of antibiotics and rewarding drug companies for developing new medicines.

Statue of Liberty, other world sites threatened by climate change, says U.N.
Fri, 27 May 2016 16:29:41 +0100

Statue of Liberty, other world sites threatened by climate change, says U.N.The Statue of Liberty is seen in New York harbor. Climate change might dampen Lady Liberty’s glow, according to experts. The United Nations released a report Thursday saying 31 natural and cultural World Heritage sites in 29 countries are vulnerable to the effects of climate change: rising temperatures, rising sea levels, intensifying storms, longer droughts and so on.

Vincent Foster’s sister: Trump’s comments are ‘beyond contempt’
Fri, 27 May 2016 14:56:33 +0100

Vincent Foster’s sister: Trump’s comments are ‘beyond contempt’Sheila Foster Anthony, sister of former Clinton White House aide Vincent Foster, took to the Washington Post opinion page Thursday to admonish Donald Trump for his recent comments about her brother’s death. Earlier this week, the same paper published an interview with Trump in which the presumptive Republican presidential nominee was quoted drudging up a decades-old conspiracy theory about Foster’s 1993 suicide.

No new signal from EgyptAir jet since day of crash as search intensifies
Fri, 27 May 2016 12:03:16 +0100

People light candles during a candlelight vigil for the victims of EgyptAir flight 804, at the Cairo Opera house in CairoCAIRO/PARIS (Reuters) - No new radio signal has been received from an EgyptAir jet since the day it crashed in the Mediterranean last week, sources close to the investigation said on Friday. A radio signal picked up on the day of the crash from the plane's emergency locator transmitter (ELT) allowed officials to determine a broadly defined search zone, but nothing new has since been detected, the sources told Reuters. "There has been nothing since day one," a source familiar with the investigation said.

Trump doubles down on Elizabeth Warren ‘Pocahontas’ attack after Native American woman calls him ‘offensive’
Thu, 26 May 2016 23:38:38 +0100

FILE - In this May 26, 2016 file photo, Republican presidential candidate Donald Trump speaks in Billings, Mont., Thursday, May 26, 2016. Donald Trump’s best liaison to Republicans is turning out to be Hillary Clinton. Trump overcame a “Never Trump” campaign aimed at stopping him from clinching the Republican nomination. Now the businessman is benefiting from a wave of GOP donors, voters and conservative issues groups uniting under a new banner: Never Hillary. (AP Photo/Brennan Linsley, File)You tell me,” Trump asked. The woman replied that she was offended, and Trump quickly repeated the phrase. “Oh, oh really — oh, I’m sorry about that,“ Trump said before turning to a reporter who had asked about Warren, immediately using the term again.

Can affirmative consent apps combat campus sexual assault?
Thu, 26 May 2016 23:27:24 +0100

Can affirmative consent apps combat campus sexual assault?The creators of YES to SEX, a smartphone app that promises to help “all gender partners get and give a safe sexual consent in as little as 25 seconds,” have released a new platform that allows colleges and universities to customize the application to meet the specific needs of their campuses. YES to SEX founder Wendy Mandell-Geller told Yahoo News that after launching the original version of the app in April, she soon realized its potential to make an impact on university and college campuses. In addition to providing users with an up-to-date guide to giving and receiving sexual consent under Title IX, the app’s new college format can be customized to reflect each school’s policies — as well as its color scheme.

Donald Trump unlikely to pick woman or minority as running mate
Thu, 26 May 2016 21:10:40 +0100

Republican presidential candidate Donald Trump acknowledges the crowd after giving an energy speech at the Williston Basin Petroleum Conference, Thursday, May 26, 2016, in Bismarck, N.D. (AP Photo/Charles Rex Arbogast)The possibility of appearing to pander is among the reasons Donald Trump would be unlikely to pick a woman or a minority as his vice presidential running mate, his campaign chairman says.

What Obama should do on torture
Thu, 26 May 2016 10:00:50 +0100

What Obama should do on tortureLike a lot of two-term presidents nearing the last bend in the road, Barack Obama seems guided by equal parts conviction and whimsy these days, without much regard for political consequence. The president has expounded publicly on race and political civility, shaken hands with a Cuban Castro, commuted a slew of sentences for drug offenders, plunged the federal government into the debate over transgender Americans in restrooms. Obama clearly isn’t going to declassify the full text of the Senate’s mammoth, landmark report on torture, and maybe that’s the right call — I don’t know.

Paul Ryan ally doubts speaker will ever fully endorse Trump
Wed, 25 May 2016 16:40:11 +0100

American politics has been ‘reformed to death’He has been called an “intellectual prodigy” and is one of the most influential thinkers and writers in conservative Republican politics. Yuval Levin, founding editor of National Affairs magazine, is also an informal adviser to House Speaker Paul Ryan, R-Wis., the most prominent Republican national leader to decline — at least so far — to endorse presumptive GOP presidential nominee Donald Trump. Levin also worked as a White House policy adviser to former President George W. Bush and has since been part of a movement within Republican politics to move the party toward a solutions-oriented disposition, in contrast to many in the party whose main goal has been to block the agenda of President Obama and the Democrats.

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