News and Trends

June 28, 2017

3 Out Of 4 US Energy Firms Were Hacked In 2016 - Zero Hedge--6.28.17
According to a recent report, three out of every four U.S. oil and gas companies experienced a cyber-attack in 2016. Low oil prices have caused these energy companies to focus their spending on operations that maximize value for shareholders, instead of investing in cyber security measures.

Why Janet Yellen is very wrong about the banks- CNBC--6.28.17
In a recent statement, Fed Chairperson Janet Yellen stated that financial system was not likely to experience another significant financial crisis in our lifetime. However, the U.S. is at a greater risk of a major collapse than at any time in the past 110 years.

Another Massive Ransomware Outbreak Is Going Global Fast - Forbes--6.27.17
Ukraine's government, its transportation services and largest power companies are suffering from what appears to be a massive ransomware outbreak that's fast spreading across the world and hitting critical infrastructure providers.

This chart shows the stock market is about to enter a dead zone - CNBC--6.27.17
Wall Street may be primed for a pullback. One expert said that stocks are "approaching the more difficult stretch of the calendar." Key technology stocks may have also rallied too far, too fast and are due for a pullback that could drag down the broader market.

Great recession fears as bankers warn next global crash could arrive 'with a vengeance'- Independent--6.26.17
The next financial crisis is brewing and could hit "with a vengeance" according to an influential group of central bankers. The group has also warned about the threat poised by rising debt in countries like China and the rise in protectionism such as in the U.S.

It’s going to end ‘extremely badly,’ with stocks set to plummet 40% or more, warns Marc 'Dr. Doom' Faber- CNBC--6.26.17
Market expert Marc Faber is making a prediction that stocks could plummet by 40% or more. According to Faber, there has been more than eight years of a bull market and the Nasdaq is bring driven by very few stocks which is not a particularly healthy sign from a technical point of view.

Stockman Warns Of "Huge Air Pocket Between Wall Street Fantasy & Economic Reality"- Zero Hedge--6.23.17
According to David Stockman, "we're in the midst of the biggest political train wreck in modern history" and are creating an enormous crisis by August or September.

Surprise! This index shows the economy is in trouble- CNBC--6.23.17
The Citi Economic Surprise Index has hit a multiyear low and, according to one portfolio manager, the move should have investors thinking about how to protect their portfolios.

Economic disappointment reaches level not seen since 2011- CNBC--6.22.17
So far this year, the performance of the U.S. economy has been disappointing. Hard data is having a hard time keeping up with high hopes. Retail sales, job creation and productivity are just some of the economic reports that have fallen short.

4 things that could kill the bull market for stocks - Market Watch--6.21.17
The stock market is already seeing signs of froth, especially in the FAANG stocks. After eight years in a bull market, its time to think about what could bring this bull market to an end.

Many Businesses Not Prepared for Cyber Attacks - Memphis Daily News--6.21.17
While most businesses believe a cyber attack or hack could significantly impact their bottom lines, many are not prepared, according to a recent survey. Cyber threats are expected to increase in the coming years and some companies may need to beef up their IT budgets and cyber-security efforts.

Brexit threatens to become a fiasco — and investors are in denial - Market Watch--6.20.17
Great Britain has entered Brexit talks without a plan, a stable team or a strong government. The country is in political turmoil and yet investors continue like nothing is wrong.

New York City Pensions Are Still in Crisis - NY Times--6.20.17
The New York pension crisis started in 1975, when New York had amassed a huge debt and no one was willing to lend it another cent. New York got permission from Congress to issue junk bonds and sell them to its municipal pension system. 40 years later, the pension system seems unchanged.

Here's how many Americans have nothing at all in savings - CNBC--6.19.17
Half of Americans have nothing put away for retirement and a vast majority of them have under $1000 saved, total. 35 percent of all adults have only several hundred dollars in their savings while 34 percent have zero.

Why the almighty dollar is headed for a fall — even as Yellen sounds hawkish- Market Watch--6.15.17
The day after the Fed announced it will raise rates, global equities are sagging and U.S. stocks are getting slammed. The Fed may be optimistic, but investors don't appear to agree.

Major bitcoin exchanges hit by cyberattacks as record rally makes them a target - CNBC--6.14.17
Multiple cyberattacks on major bitcoin exchanges this week highlight the challenges that the digital currency world faces.

Technology Shares Lead Global Declines - The Wall Street Journal--6.12.17
Many investors are becoming concerned that major indexes' gains have been overly concentrated in a handful of large technology firms, which have extended their losses for a second straight session.

Hedge funds face a crisis of confidence - New York Post--6.11.17
Hedge funds are facing a crisis of confidence and potential lawsuits amid unprecedented fund closures, job losses and low investment returns. Investors have already withdrew $111.6 billion from hedge funds last year, according to eVestment.

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