Sentiment low as Greek default approaches... September rate rise “in play” says NY Fed chief... Element Financial to acquire GE fleet management business... Fiat Chrysler recalls vehicles over “rear end instability”... Iran nuclear talks likely to take longer...
Sentiment low as Greek default approaches
Greece looks likely to default on its next payment to the IMF. The country’s stock exchange and banks are not trading Monday and the weekend failed to produce a resolution to the tense debt talks. World markets are subdued as a result with Asian indexes closing with losses. European markets are also down so far. Wall Street closed lower Friday and is not expecting much positivity as the new week begins.
US stock futures are trending lower. Oil is trending lower (Brent $61.83, WTI $58.33 at 5.35am ET) Gold is trending higher.
Today’s data
Pending home sales at 10am ET
Dallas Fed manufacturing survey at 10.30am ET
Farm prices at 3pm ET
Enviro Solutions, Integrated Drill and Telupay International are among the companies reporting earnings today.
September rate rise “in play” says NY Fed chief
The president of the New York Fed says that an interest rate rise in September is “very much in play”. Speaking to the FT William Dudley said that if the US economy continues to get stronger then he “wouldn’t be shocked” if rates increased, however he also said a softer approach wouldn’t surprise him either. He said that the Greek debt situation is still a “huge wildcard” though.
Element Financial to acquire GE fleet management business
Canada’s Element Financial Corp has signed an agreement to acquire the US, Mexico, Australia and New Zealand fleet management business of GE Capital. Reuters says that the deal is worth C$8.6 billion ($6.98b) in cash. Paris-based Arval has entered into a separate agreement to acquire GE’s European fleet business.
Fiat Chrysler recalls vehicles over “rear end instability”
Another recall for the auto industry as Fiat Chrysler says 65 vehicles built in an 8-day period may be unsafe. The recall affects Jeep Grand Cherokee and Dodge Durango SUVs which may have rear-end instability or braking issues. There could be a total of 7,690 vehicles recalled but only 65 are thought to have been sold with the rest with dealers or in transit.
Iran nuclear talks likely to take longer
Tuesday’s deadline for an agreement between western powers and Iran over the country’s nuclear program looks set to be exceeded. Officials said Sunday that some major issues are still to be agreed but they are confident that a final deal will be reached.
Greece looks likely to default on its next payment to the IMF. The country’s stock exchange and banks are not trading Monday and the weekend failed to produce a resolution to the tense debt talks. World markets are subdued as a result with Asian indexes closing with losses. European markets are also down so far. Wall Street closed lower Friday and is not expecting much positivity as the new week begins.
US stock futures are trending lower. Oil is trending lower (Brent $61.83, WTI $58.33 at 5.35am ET) Gold is trending higher.
Today’s data
Pending home sales at 10am ET
Dallas Fed manufacturing survey at 10.30am ET
Farm prices at 3pm ET
Enviro Solutions, Integrated Drill and Telupay International are among the companies reporting earnings today.
September rate rise “in play” says NY Fed chief
The president of the New York Fed says that an interest rate rise in September is “very much in play”. Speaking to the FT William Dudley said that if the US economy continues to get stronger then he “wouldn’t be shocked” if rates increased, however he also said a softer approach wouldn’t surprise him either. He said that the Greek debt situation is still a “huge wildcard” though.
Element Financial to acquire GE fleet management business
Canada’s Element Financial Corp has signed an agreement to acquire the US, Mexico, Australia and New Zealand fleet management business of GE Capital. Reuters says that the deal is worth C$8.6 billion ($6.98b) in cash. Paris-based Arval has entered into a separate agreement to acquire GE’s European fleet business.
Fiat Chrysler recalls vehicles over “rear end instability”
Another recall for the auto industry as Fiat Chrysler says 65 vehicles built in an 8-day period may be unsafe. The recall affects Jeep Grand Cherokee and Dodge Durango SUVs which may have rear-end instability or braking issues. There could be a total of 7,690 vehicles recalled but only 65 are thought to have been sold with the rest with dealers or in transit.
Iran nuclear talks likely to take longer
Tuesday’s deadline for an agreement between western powers and Iran over the country’s nuclear program looks set to be exceeded. Officials said Sunday that some major issues are still to be agreed but they are confident that a final deal will be reached.
