Household debt is up in the US, continuing a growth wave that started in 2013. Auto loan delinquencies are on the rise.
Technical analyst Avi Gilburt writes that the course of the Russell 2000 small-caps index is worth watching as it could indicate the long-term prospects of the wider market. Following Elliott Wave principles of analysis, an imminent pullback or a breakout here will be replicated in larger indexes including the Standard & Poor's 500, which Gilburt ultimately expects to stay bullish for a while.
The Children's Investment Fund founder Christopher Hohn is urging the Bank of England and the UK Financial Conduct Authority to intervene and remove Donald Brydon as chairman of London Stock Exchange Group and instruct the company's board to appoint a successor. Meanwhile, LSEG's board is preparing for the possible sudden exit of CEO Xavier Rolet.
Pioneering Technology, a firm that specializes in domestic fire prevention solutions, has developed a product that meets safety standards for electric stoves and will be mandatory from 2019, prompting several analysts to tip Pioneering for a strong stock rise. Technical analyst Clive Maund noted a while back that it has the potential to "go ballistic" and others describe it as an underrated entity that may be well worth buying.
Technical analyst Clive Maund writes that current indicators on oil charts are remarkably paradoxical, making it difficult to predict the asset's near-term progress. The five-year chart for light crude shows a recent breakout from an entrenched head-and-shoulders pattern, suggesting an exceptionally strong rally ahead, but other charts are unusually bearish.
The Financial Stability Board's annual ranking of global systemically important banks puts JPMorgan Chase at No. 1 on the list of 30 major banks worldwide based on the amount of regulatory capital they must hold. Bank of America, Citigroup, Deutsche Bank and HSBC are in the category below JPMorgan's.
The Financial Industry Regulatory Authority's Fund Analyzer tool has been upgraded to allow the modeling of investor behaviors and to illustrate the effects of wrap accounts and flat fees on costs and future account values. The tool allows investors and financial professionals to compare 30,000 products on the basis of fees, expenses and discounts.
Cashless tolling has deprived the Metropolitan Transportation Authority of millions of dollars because many tolls and related fees go uncollected, according to an audit by the office of New York Comptroller Thomas DiNapoli. The MTA did not collect or waived $11.3 million in tolls from 2012 to 2017, and $72 million in related fees were unpaid.
The Metropolitan Transportation Authority has selected Andrew Byford, CEO of the Toronto Transit Commission, as president of New York City Transit, which runs the subway and buses. Byford says he is aware turning around the deteriorating subway system will be a challenge.
Natural-gas-fired power plants are not immune to economic challenges posed by state laws requiring renewable generation, said Tony Clark, who recently served on the Federal Energy Regulatory Commission. Clark cited growing difficulties posed by the underlying market design for central grid operators, plus advances in solar and wind technology.