Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Oil And Deutsche Bank In Focus

Published 09/29/2016, 10:39 PM
Updated 07/09/2023, 06:31 AM
Oil prices still matter. Americans may be disgruntled about the level of work they currently have, but at least they’re working. Election 2016 is no slam-dunk for Hillary Clinton. These are the things we’ve learned during calendar Q3, which ends today.

Personal Income and Spending was at 0.2%, exactly as expected in August. Consumer spending was unched in the month. Wages were up an additional 0.1% from the notable +0.5% in July, The Savings Rate rose a notch from 5.6% to 5.7%. All of this is more or less in-line with expectations.

Deutsche Bank DB is making headlines again, hitting record lows around $10.50 per share in the pre-market after a group of hedge funds have reduced exposure to the German bank major. In fact, if there is a “too big to fail” bank in Germany, it would be Deutsche Bank (DE:DBKGn).

The U.S. Justice Department has levied a $14 billion fine on Deutsche Bank, which is now in question that the bank can pay. The fine relates back to the mortgage crisis in the U.S. that caused the Great Recession 8 years ago, and has led speculators to relate the fortunes of DB to those of Lehman Brothers, the U.S. investing institution that went belly-up one month prior to the bottom falling out of the U.S. economy.

Germany has felt the stress of bearing the burdens of the Eurozone, and especially the euro monetary unit. That Deutsche Bank has now been hit with these major fines, questions are rife that the nearly 150-year-old institution may not survive this latest episode.

But if Wells Fargo (NYSE:WFC) WFC can survive its fraud scandal, DB should be able to weather this storm. Because Germany stands at the apex of Eurozone cohesiveness, that’s what all this worry is about.

That said, after a 1% sell-off in American indices yesterday, we’re seeing modest positives in the S&P 500 (+3), the Dow (+30) and the Nasdaq (+2). So what have we learned in Q3? Apparently not a ton.

Original post

Zacks Investment Research
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.