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  • Stock market bracing for potentially the most explosive stretch of trading this year
    Politics
    MarketWatch46 minutes ago

    Stock market bracing for potentially the most explosive stretch of trading this year

    The stock market could face its most turbulent week of trading so far this year, with a trio of potentially destabilizing events on deck: former FBI director James Comey’s testimony, the U.K. election, and the ECB monetary-policy meeting. The trifecta, coming nearly all simultaneously on June 8, threaten to derail U.S. equities’ record-setting run. “The hurricane season is forecast to start earlier than normal this year for the Trump administration as a perfect storm of events is converging,” said Chris Zaccarelli, chief investment officer at Cornerstone Financial Partners. Comey, who was fired by President Trump early last month, on Thursday will testify before the Senate Intelligence Committee on Russia’s role in the U.S. presidential election as well as whether he was pressured to drop a probe on possible collusion between Trump’s campaign and Russian officials.

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  • Malls of the Future May Be Nothing More Than Giant Parking Lots for Uber Drivers and Amazon Workers
    Business
    The Street15 hours ago

    Malls of the Future May Be Nothing More Than Giant Parking Lots for Uber Drivers and Amazon Workers

    Here comes a parking lot full of Uber drivers next to the former Sears (SHLD) . "The growth of e-commerce and the increasing emphasis on delivery speed as well as pick-up services for retail goods will likely precipitate a convergence of industrial distribution and retail real estate," Fitch said in a note on Tuesday. Fitch essentially predicts that well-located malls - calculated by their proximity to population density plus the per capita income of that region - will prosper in the future as distribution and pickup centers for e-commerce retailers like Amazon (AMZN) , the giant online corporation which saw its stock hit a record $1,000 a share on Tuesday, rather than shopping destinations.

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  • Business
    Oilprice.com12 hours ago

    Are Super Rigs The Driver Behind The New Shale Boom?

    Cost cuts and efficiency—the two key ingredients of the U.S. shale’s recipe for surviving the worst of the downturn—have led to drillers now employing a growing number of rigs capable of reducing the time needed for drilling a well and for moving from one area to another. The U.S. shale patch has been increasingly using the so-called super-spec rigs, a more advanced type of drilling machine, since the shale resurgence began at the end of last year, helped—inadvertently—by OPEC’s production cut deal that pushed oil to a more stable, around-US$50, price. The market was particularly unimpressed with OPEC extending the output cuts into March next year, while U.S. shale continues to increase production by the week, having found ways to get more bang for the buck and be profitable at a US$50 oil price.

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