Posts by Demetrius Brown

    Why did US recession fears rise again and scare the stock market on Tuesday?

    The American consumer has been propping up the U.S. economy, but fears deepened Tuesday that the troubled U.S. manufacturing sector could ultimately drag it down.

    Factory activity shrank at the fastest pace in a decade last month amid the U.S.-China trade war and slowing global growth, driving stocks lower and reviving recession fears.

    Those forces also led the World Trade Organization on Tuesday to sharply lower its forecast for global trade growth this year to 1.2%. That’s down from its 2.6% estimate in April and a gain of 3% last year.

    A closely watched index of factory activity dropped to 47.8 in September from 49.1 the prior month, according to the Institute for Supply Management. That’s below the reading of 50 that economists expected and reflects a contraction in the sector for the second straight month. An index above 50 means expansion while below means contraction.

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    Jury Convicts Ex-Police Officer Who Fatally Shot Neighbor

    DALLAS (AP) — A white former Dallas police officer who said she fatally shot her unarmed, black neighbor after mistaking his apartment for her own was found guilty of murder on Tuesday.

    A jury reached the verdict in Amber Guyger’s high-profile trial for the killing of Botham Jean after six days of witness testimony but just a handful of hours of deliberation.

    Cheers erupted in the courthouse as the verdict was announced, and someone yelled “Thank you, Jesus!”

    In Texas, the sentence for murder is from five to 99 years in prison. The jury is expected to return Tuesday afternoon for the punishment phase of the trial.

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    A$AP Rocky Riles Up Crowd in First Concert Since ‘Scary Humbling Experience’ in Swedish Jail

    A$AP had a chance to get wild for the night at Real Street Festival in Anaheim on Sunday. And given his current legal situation, awaiting a verdict on assault charges in Sweden, he took full advantage of it.

    The rapper closed out the second and final night of the festival hosted by REAL 92.3 FM, appearing before a crowd at the Honda Center festival grounds that chanted “F— Sweden!” during Rocky’s his first gig since his release last week from a Swedish jail where he was held for over three weeks.

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    Marvin Bagley withdraws from Team USA to focus on NBA season

    On Sunday, Sacramento Kings forward Marvin Bagley became the latest player to withdraw from the national team ahead of the FIBA World Cup in China. According to Marc Stein of The New York Times, Bagley will instead take the time to focus on the upcoming NBA season.

    Stein added that the two players fighting for the final spot on the 12-man roster are Bagley’s teammates in Sacramento: Harrison Barnes and De’Aaron Fox.

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    Toni Morrison, iconic author and activist, will leave behind an impressive net worth

    Toni Morrison, iconic author and the first African-American woman to win a Nobel prize, passed away at age 88.

    Before her passing, Morrison, born in Ohio on February 18, 1931, was regarded as one of the most prolific authors of all time. The Howard University graduate is known for critically-acclaimed works of literature on the black experience including “Beloved,” “Song of Solomon” and “Sula.”

    According to Celebrity Net Worth, Morrison was worth $20 million. The site reports most of her wealth was obtained through her many highly-regarded novels and co-writing children’s’ books with her son, Slade. Check out a few of her best sellers below.

     

    Source: Yahoo.com

     

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    When the unthinkable happens: U.S.-China trade negotiations break down for good

    It’s impossible to forecast where the U.S.-China trade confrontation is going, although given what the bond market is doing, it’s no place good.

    The markets are trading on headlines that may become economic events, but the worst-case scenario of much higher tariffs and a much bigger slowdown in global trade has not developed yet. In other words, I don’t think we are yet at the point of no return in this trade negotiation.

    I have long held the view that, because of deflationary trends in Europe and Japan, the 10-year U.S. Treasury will fall to less than 1%. The present deterioration in relations with China is adding to those deflationary trends, so a longer cycle of acrimonious recrimination actually has a deflationary impact because of the slowdown in flow of goods and services, and not inflationary because of higher tariffs, as some investors think (see chart).

    Read: Trade war is raising the risk of U.S. recession, Goldman Sachs warns

    Low interest rates give a boost to companies with good balance sheets, strong cash flows and high dividend yields that have more limited exposure to the trade confrontation. I can’t be more specific for the purposes of this piece — although I will try to have more picks in future missives — as in my situation I have some hard restrictions on “buy this” or “sell that,” so what I say is insight for people to make their own decisions; I am sort of over-intellectualizing it out of necessity and compliance. That said, the U.S. semiconductor sector does see some serious headwinds in further escalation of the trade war.

    Source: marketwatch.com

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    Gold ends higher as global angst knocks stocks and bond yields are down

    Gold futures finished higher Monday, near a six-year peak above $1,500-an-ounce set last week, as the U.S.-China trade battle showed few signs of letting up, and as demonstrations in Hong Kong heightened fears about the health of global markets and economies.

    December gold GCZ19, +0.56%  on Comex rose $8.70, or 0.6%, to $1,517.20 an ounce, while September silver SIU19, +0.58%  added 14 cent, or 0.8%, to end at $17.071 an ounce.

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    T-Pain Remembers Borrowing Money For Burger King After Blowing $40 Million

    T-Pain sat down for an interview with The Breakfast Club where he made a sobering admission. The unofficial “Godfather of Auto-Tune” said at one point in his career he had roughly $40 million in his bank account, but due to bad business decisions, he wound up with nothing.

    “That’s when I was running out of money,” he said in a clip. “That’s when my accountant was like, ‘Dude, you just bought a Bugatti, you’re out of money.’ And I was like, ‘No I’m not. I got this house I wanna get. I got this other house for my assistants, for my runners and producers.’

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    NYPD Commander Reportedly Won’t Be Charged For Shoot 50 Cent “On Sight” Comment

    A Brooklyn-based commander in the New York City Police Department is reportedly off the hook for threatening 50 Cent. According to the New York Daily News, an investigation into 72nd Precinct Deputy Inspector Emanuel Gonzalez telling cops to shoot 50 “on sight” has been closed.

    “This allegation was unsubstantiated and closed,” an NYPD spokeswoman told the Daily News.

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    More than 300 released after ICE arrests nearly 700 in Mississippi raids

    After U.S. Immigration and Customs Enforcement arrested nearly 700 potentially undocumented immigrant workers in Mississippi, more than 300 of those taken into custody were released on Thursday, according to Bryan Cox, an ICE spokesman.

    “All persons released were transported back to their respective arrest locations,” Cox said. “We took them all back to the plants where they were arrested. No one had to procure transportation to get themselves back.”

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