Market News and Commentary – Wall Street Underground

The U.S. Just Became A Net Oil Exporter For The First Time In 75 Years

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OPEC works on deal to cut output, still needs Russia on board. Crude prices rally 4% as Russia, Saudis signal output curbs. Russian Energy Minister Alexander Novak confirmed the combined output cuts of 1.2 million bpd, saying that the market will be oversupplied through the first half of the year. Trump calls truce in China trade war a big success, but little is known about the deal. Shares spiral on arrest of China executive; oil sinks as output decision delayed. Trump’s China car tariffs claim sows confusion. Qatar to leave OPEC and focus on gas as it takes swipe at Riyadh. Israel has been building defensive obstacles along a roughly seven-mile stretch of its border with Lebanon since 2015. These stories and more in today’s Market News and Commentary.

Market News and Commentary for December 9th has been posted. Click here to listen now.
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Market News and Commentary – Wall Street Underground

Cohen To Rat Out Russian Collusion

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Federal Reserve warns of vulnerabilities in U.S. financial system. Saudis mull quiet cuts to OPEC production. Oil plunges nearly 8 percent despite talk of output cut. Oil prices hit year low as OPEC considers output cut. The next gold? Palladium prices soar, & Russia has plenty of the precious metal. Boris warns Brexit plan akin to Titanic heading toward doom. May’s Brexit deal prospects ebb as top ally rejects it. These stories and more in today’s Market News and Commentary.

Market News and Commentary for November 30th has been posted. Click here to listen now.
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Radio Free Wall Street – Wall Street Underground

Donald Trump Screws The Factory Worker… Again

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It’s a math problem. $40 an hour labor can’t compete with $5. We talk about this in today’s Radio Free Wall Street.
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Radio Free Wall Street’s daily webcast for November 29th has been posted. Click here to listen now.
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Market News and Commentary – Wall Street Underground

Oil Glut Worries Persist

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Trump thanks Saudi Arabia for lower oil prices. Trump thanks Saudis for $54 oil, but says in Wednesday tweet, ‘let’s go lower.’ U.S. consumer sentiment deteriorates more than initially estimated in November. U.S. durable goods orders plunge 4.4% in October, much more than expected. Dozens of banks have exposure to GE’s $41B in credit lines. These stories and more in today’s Market News and Commentary.

Market News and Commentary for November 21st has been posted. Click here to listen now.
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Market News and Commentary – Wall Street Underground

Oil Slumps 7 Percent As Equities Slide Fuels Demand Worries

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Household debt hit a record high of $13.5 trillion last quarter. Subprime rises: Credit card delinquencies blow through financial-crisis peak at the 4,705 smaller U.S. banks. Saudi crown prince ordered Khashoggi’s assassination: CIA. Pence: U.S. will hold those responsible for Khashoggi’s murder accountable. Home builder confidence tumbles the most since 2014 as housing headwinds catch up. Bitterly cold Thanksgiving will be among the coldest on record in parts of the Northeast. Trump stands by Saudi Arabia despite Khashoggi murder. These stories and more in today’s Market News and Commentary.

Market News and Commentary for November 20th has been posted. Click here to listen now.
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Market News and Commentary – Wall Street Underground

Sterling, Euro Stocks Scuttled As Brexit Deal Hits The Rocks

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Theresa May’s job hangs by a thread today as she was hit by a wave of resignations over her Brexit plan. Saudi Arabia to seek death penalty for 5 accused in Khashoggi killing. Record U.S., Russia and Saudi oil production means supply well outstrips global demand: IEA. Theresa May on the brink after wave of resignations in protest at her Brexit deal that ‘blackmails the country.’ Trump takes aim at Mueller as speculation over Russia probe’s end grows. J.C. Penney gives gloomy outlook before holidays. U.S. levels sanctions on 17 Saudis for alleged involvement in Khashoggi killing. These stories and more in today’s Market News and Commentary.

Market News and Commentary for November 15th has been posted. Click here to listen now.
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Market News and Commentary – Wall Street Underground

Manchin: We’re ‘On The Verge’ Of A Constitutional Crisis Due To Sessions’ Firing

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China October exports surprisingly strong in race to beat higher U.S. tariffs. U.S. to impose new duties on Chinese aluminum sheet products. Russia clashes with western oil buyers over new deals as sanctions loom. U.S. grants Iraq 45-day waiver over Iran sanctions to import gas, electricity. U.S. Embassy Senate Democrats weigh lawsuit over Trump Justice Department appointment. These stories and more in today’s Market News and Commentary.

Market News and Commentary for November 9th has been posted. Click here to listen now.
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Market News and Commentary – Wall Street Underground

Trump’s Pick For Acting AG Said In 2017 Interview There Was ‘No Collusion’ Between Trump And Russia

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Trump moves to deny asylum to most migrants who cross border illegally. Japan core machine orders plummet in September. Oil falls as rising production feeds concerns of an oversupply. Trump’s acting AG was involved in company accused of being a ‘scam’ by FTC. Trump faces a blitz of investigations from Democratic-run House. These stories and more in today’s Market News and Commentary.

Market News and Commentary for November 8th has been posted. Click here to listen now.
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Market News and Commentary – Wall Street Underground

The Fake News Media, The True Enemy Of The People, Must Stop The Open & Obvious Hostility & Report The News Accurately & Fairly

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Two big credit-card issuers tighten lending standards amid robust economy: WSJ. Trump: ‘We’re going to build tent cities (AKA concentration camps) to house ‘caravan’ migrants who apply for asylum. Trump to terminate birthright citizenship. Oil prices down more than 1 percent on rising supply, trade war. Ukraine says Russia preparing to deploy nukes in Crimea. Trump says he can defy U.S. Constitution to end birthright citizenship. U.S. preparing to deploy several thousand troops to southern border. These stories and more in today’s Market News and Commentary.

Market News and Commentary for October 29th has been posted. Click here to listen now.
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Market News and Commentary – Wall Street Underground

U.S. Mail Bombs: Cesar Sayoc Charged After Campaign Against Trump Critics

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S&P 500 ends at lowest since May as tech, internet stocks tumble. Stocks could rally 20% after this bruising rout, says Guggenheim’s Minerd — after that, watch out. Fitch says it no longer assumes Britain will get a smooth Brexit. U.S. economy grew by healthy 3.5% in third quarter. Dow, S&P 500 fall as dollar rises, yield curve flat. The global selloff has erased $5 trillion from stock and bond markets in October. Family’s farm at risk as tariffs sink prices. What’s a few trillion gone from investors’ portfolios? These stories and more in today’s Market News and Commentary.

Market News and Commentary for October 23rd has been posted. Click here to listen now.
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Market News and Commentary – Wall Street Underground

Paul Volcker, At 91, Sees ‘A Hell Of A Mess In Every Direction’

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U.S. fund investors pull most cash since June from stocks: Lipper. Netflix’s new $2 billion in borrowing raises Wall Street eyebrows. Trump: Migrant caravan contains gang members and terrorists. Counterterrorism official contradicts Trump: No sign ISIS or ‘Sunni terrorist groups’ are in caravan. Russia will target European countries if they host U.S. nuclear missiles: Putin. Two Wells Fargo executives go on leave of absence amid sales scandal review. Malls fear Sears bankruptcy signs will scare off buyers. These stories and more in today’s Market News and Commentary.

Market News and Commentary for October 22nd has been posted. Click here to listen now.
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Radio Free Wall Street – Wall Street Underground

The Caravan Is Coming

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Trump wants to call out the military. They wish you no harm and the truth is they should be granted asylum. We talk about this in today’s Radio Free Wall Street.
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Radio Free Wall Street’s daily webcast for October 22nd has been posted. Click here to listen now.
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Market News and Commentary – Wall Street Underground

Pat Robertson: Khashoggi Isn’t Worth Damaging U.S.-Saudi Relations

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Fed plans to keep hiking interest rates despite Trump blowback. U.S. eyes more Venezuelan sanctions, but oil on backburner: U.S. official. Oil could fall further on rising U.S. supplies, says internal secret OPEC report. Investors are growing increasingly anxious about China. Italy’s debt crisis thickens. Goldman Sachs sees five more Fed rate hikes through end of 2019.

Market News and Commentary for October 18th has been posted. Click here to listen now.
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Market News and Commentary – Wall Street Underground

As Khashoggi Crisis Grows, Saudi King Asserts Authority, Checks Son’s Power

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Kelly, Bolton get in profane shouting match outside the Oval Office. Trump threatens to send MILITARY to seal southern border. U.S. existing home sales plunge to nearly three-year low in September. Julian Assange: Wikileaks co-founder takes legal action against Ecuador. Rosenstein defends Mueller probe as ‘appropriate,’ ‘independent.’ Honeywell says tariff-related costs to weigh on margins in 2019. China soybean imports set for biggest drop in 12 years amid tariff conflict. China September coal output hits nine-month high as new capacity starts up. Exxon Mobil bets big on China LNG, sidesteps trade war. These stories and more in today’s Market News and Commentary.

Market News and Commentary for October 17th has been posted. Click here to listen now.
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Market News and Commentary – Wall Street Underground

Trump Tells AP He Won’t Accept Blame If GOP Loses House

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Jamal Khashoggi’s killing took seven minutes, Turkish source tells MEE. Trump: ‘That would be bad’ if ‘great ally’ Saudis tied to Khashoggi’s alleged murder. Trump widens Fed critique, calls it ‘my biggest threat.’ Oil prices slump after large increase in U.S. stocks. U.S. housing starts, building permits fall in September. These stories and more in today’s Market News and Commentary.

Market News and Commentary for October 16th has been posted. Click here to listen now.
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Market News and Commentary – Wall Street Underground

Maher: Trump ‘Sounds Like He’s Setting Up’ Martial Law

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Italy must ‘calm down’ and stop questioning the Euro: Draghi. Biden: Trump is ‘trashing American values.’ Trump speaks to Saudi King, sends Pompeo for follow-up. Sears files for Chapter 11 bankruptcy in attempt to keep stores open for now. U.S. retail sales are soft for the second month in a row. Nearly half of Europe’s biggest stocks are in bear market. These stories and more in today’s Market News and Commentary.

Market News and Commentary for October 12th has been posted. Click here to listen now.
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Market News and Commentary – Wall Street Underground

Dow Tumbles Over 500 Points, Bringing 2-Day Losses To More Than 1,300 Points

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America’s obesity is threatening national security, according to this study. Oil supply and demand reach record 100 million barrels a day. May vows she will NEVER sign up to a Brexit deal that traps the UK in the customs union ‘permanently.’ IEA: ‘Expensive energy is back.’ China’s trade surplus with U.S. hits record. China auto sales plummet. Astronauts make harrowing escape, but Russian rocket failure roils NASA. Russia dossier author criticizes Trump, slams ‘strange and troubling times.’ These stories and more in today’s Market News and Commentary.

Market News and Commentary for October 11th has been posted. Click here to listen now.
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Market News and Commentary – Wall Street Underground

Trump Says Fed ‘Has Gone Crazy’ Following Stock Market Selloff

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Report: Saudi Crown Prince ordered detention of journalist critic. UK surveyors see weakest house price outlook since Brexit vote – RICS. Manufacturers fighting Trump’s tariffs. Leaked Google research shows company grappling with censorship and free speech. Trump briefed on stock market sell-off: Sears prepares to file for bankruptcy in coming days: sources. Euro zone bailout fund head – no reason to expect Italy to lose market access. These stories and more in today’s Market News and Commentary.

Market News and Commentary for October 10th has been posted. Click here to listen now.
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Market News and Commentary – Wall Street Underground

‘Extremely Dangerous’ Hurricane Michael Strengthens To Category 4 Storm

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Fed’s Kaplan says he doesn’t expect a sudden spike in inflation. Haley announces she is resigning as UN Ambassador, says U.S. is respected again. Sales down 18% at VW, latest auto maker dented by emissions rules. Trump criticizes Fed rate increases again. Global financial stability risks rising with trade tensions, IMF says. HSBC to pay $765 million to settle U.S. mortgage securities mis-selling claim. WSJ: Britain, EU closer to Brexit deal. IMF warns some emerging-market countries could face ‘severely adverse’ capital outflows. These stories and more in today’s Market News and Commentary.

Market News and Commentary for October 9th has been posted. Click here to listen now.
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Market News and Commentary – Wall Street Underground

The Trump Administration Just Escalated Its High-Stakes Competition With China

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Colin Powell rips Trump on immigration, NATO, anti-press rhetoric. Russian official tied to Trump Tower meeting dies in helicopter crash. U.S. tariffs on China aren’t a short-term strategy. Brett Kavanaugh sworn in as U.S. Supreme Court justice. Donald Trump: Women ‘are extremely happy’ with Brett Kavanaugh. Erdogan says closely following case of missing Saudi journalist. Commercial banks donate $2.5 million to Senate Democrats for midterms. Deutsche Welle: Germany warns Russia over cyberattacks. Amazon is doubling down on its private label business, stoking ‘huge fear’ in some sellers. Banksy artwork self-destructs after £1m auction sale. Italy works on extending Alitalia loan deadline: source. These stories and more in today’s Market News and Commentary.

Market News and Commentary for October 6th has been posted. Click here to listen now.
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