Goldman Sachs Group Inc. on Wednesday named company veterans David Solomon and Harvey Schwartz presidents and co-chief operating officers to succeed Gary Cohn, who is set to head the White House National Economic Council.
Modern Trader magazine's Editor in Chief Dan Collins talks about how the Fed funds futures show little chance of any upcoming tightening even as far out as January 2017. Fed officials continue to hint towards a tightening, which brings confusion to the market.
Jon Corzine has settled a lawsuit by the trustee for the former New Jersey governor's company MF Global Holdings Ltd, as part of a $132 million accord to end much of the remaining litigation over the brokerage's 2011 collapse.
U.S. bank subsidiaries of Deutsche Bank AG and Banco Santander SA yet again failed the Federal Reserve's stress test today due to "broad and substantial weaknesses" in their capital planning processes.
It is suddenly hip to be bullish crude oil again. Bearish calls that oil could crash to $10.00 a barrel seem be off of the table. Talk that oil would never exceed $40.00 a barrel ever again has been proven to be wrong. Now the market and the analysts are starting to understand the impact the oil price crash has had. It has created a long lasting effect on future oil production and has sparked a surge in demand.
Oil prices jumped over 2% on Monday to their highest since November 2015 on growing Nigerian oil output disruptions and after long-time bear Goldman Sachs said the market had ended almost two years of oversupply and flipped to a deficit.