DJIA 16315 // S&P 1931 // NASDAQ 4686 // 10-YR TRE 2.26%
EURO 1.119 // OIL 45.38 // GOLD 1145 // BIT 235
EURO 1.119 // OIL 45.38 // GOLD 1145 // BIT 235
Martin Winterkorn resigned as the CEO of Volkswagen after revelations last week by the EPA that the company had installed software in VW and Audi models designed to falsify emissions standards.
$7,270,000,000
Amount set aside by VW for charges connected to emissions scandal, which is said to affect as many as 11 million vehicles.
NOTE: If article is paywalled, use Google to search for the title or try accessing via mobile
Volkswagen, which has 300,000 employees and 29 plants in Germany alone, is Europe's biggest automaker and an institution in German society--where every seventh job is connected to the auto industry. Volkswagen has lost almost 30% of its market value in the past week.
Fed chair Janet Yellen's speech this week at the University of Massachusetts-Amherst revealed, through a series of graphs and diagrams, her perspective that various indicators of slack in the economy are tightening and that inflation should gradually return to trend over time at 2%.
Following news of a $100 billion dollar merger between the world's 2 biggest brewers, some wondered how Diageo, the world's biggest distiller, would jump into the deal flow. With the deal set to take years to clear antitrust hurdles, Diageo is very excited about growth markets in Africa.
Vocabulary & People:
Calendar:
Calendar:
- Mo Sep 28: Pending home sales index; Dallas Fed survey
- Tu Sep 29: S&P Case Schiller HPI; Consumer confidence
- We Sep 30: Chicago PMI; EIA petroleum status report; ADP employment report
- Th Oct 1: PMI manufacturing index; Construction spending
- Fr Oct 2: Employment situation; Factory orders
Predictions from last time: 1/3 All-Time: 24/45
- Industrial production up: WRONG
- MANU beats: CORRECT
- MTU misses: WRONG
- 10-yr yield rises on Yellen's forecast
- CARZ ETF declines on VW news
- Another $25 billion+ merger is announced
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