Yahoo finance API is not available right now, please try again soon...
Jun 30

News:

Pass…

All but two of the 33 financial institutions passed the final round of this year’s stress test, conducted annually to gauge how well firms would shoulder a financial crisis. This year Citibank and Bank of America passed with flying colors after having to redo their test last year. Financial Services firm Morgan Stanley passed but received a stern warning from the Fed that risk was found in their internal risk-management process and they will be required to submit a revised capital plan by year end. The big banks who passed the test also won permission from regulators to boost their dividends and buybacks, offering investors some good news after the sector got hammered during the Brexit crisis.

Smaller

On Wednesday, the Financial Stability Oversight Council announced it has removed the “too-big-to-fail” designation from GE Capital after its shed billions in assets. The panel unanimously decided a collapse of GE capital, like those during the financial crisis, would no longer cause a systemic threat to the U.S financial system. The too-big-too-fail label, officially called a Systemically Important Financial Institution, comes with several requirements, including regulatory reports and capital requirements. GE Capital requested the designation be removed three months ago after the company’s closed deals around $156 billion in assets.

Markets:

Asia: Asian markets closed mixed as the global rally seems to be losing some steam.

Europe: Stocks soared on Wednesday as global markets realized any status changes after the Brexit vote are off in the distant future.

U.S: U.S markets rallied for a second day as worries over the U.K vote continued to ease. DJIA: +284.96 17694.68 S&P: +345.68 2070.77 NASDAQ: +87.38 4779.25

Word of The Day:

AAA

The highest possible rating assigned to bond issuer by credit rating agencies. It signifies the issues has an exceptional degree of creditworthiness and can easily meet its financial commitments.

Diner or Drink:

Cava Sangria

Ingredients

8 large mint leaves

1 (750-milliter) bottle Cava sparkling wine, chilled*

3/4 cup white grape juice, chilled

1/2 cup sliced fresh strawberries

1/4 cup orange liqueur

Garnish: fresh sugar cane sticks

Preparation

1. Press mint leaves against sides of a large pitcher with back of a wooden spoon to release flavors. Stir in sparkling wine and next 3 ingredients. Serve immediately over ice. Garnish, if desired.

*Other sparkling wine or Champagne may be substituted.

Note: We tested with Cointreau and Grand Marnier orange liqueurs.

Like or drink today, click here for more.

Jun 29

News:

Cheater

Federal officials have struck a deal with Volkswagen AG to pay $14.7 billion settling the car maker’s emission- cheating claims with U.S. consumers. Tuesday’s deal includes up to $10.03 billion for owners of the 475,000 affected vehicles with two-liter diesel engines, including Jetta’s, Passat’s, Beetle’s, Golf’s and Audi A3s. Volkswagen also will pay $2.7 billion to an environmental remediation fund and $2 billion to promote zero-emission vehicle technology. The deal, which closed the door on one piece of the puzzle for Volkswagen, did not end all of the company’s woes nor stop the scrutiny of other car markers emissions.

We’re Growing

According to the Gross Domestic Product (GDP) report relapsed on Tuesday, the U.S. economy expanded at a seasonally adjusted annual rate of 1.1% in the first quarter, higher than previously thought. The Commerce Department had previously estimated the economy grew only 0.8% in the first three months of the year. The main factors behind the upward revision: The U.S exported more goods/services and companies spent more than initially thought on software, research, and development. The report however, contained underlying trends which suggest the economy still remains vulnerable in the current global economic turmoil environment.

Markets:

Asian: Asian markets closed higher on Wednesday after Japan’s president said they he will use all tools available to stabilize the country’s economy.

Europe: European stocks closed higher on Tuesday, as investors starting to digest and become comfortable with the outcome of Friday’s vote.

U.S: U.S. markets climbed higher on Tuesday as traders felt a sense of calm return to the markets. DJIA: +269.48 17409.72 NASDAQ: +97.42 4691.87 S&P: +35.55 2036.09

Word of The Day:

Gross Domestic Product (GDP)

The monetary value of all the finished goods and services produced by a country within its borders in a specific time period, usually annually. Or put another way it’s like a countries price tag. The number includes both private and public consumptions, government productions, investments and exports minus imports. It is commonly used as an indicator of countries economic health aka is the economy growing (good) or is it declining (bad).

Dinner of Drink:

Honey and Lemonade

  • 1.5 parts Honey Bourbon Whiskey
  • 4 parts Lemonade
  • Splash of Club Soda
  • Garnish with Lemon Wheel

Build over ice in a highball glass. Garnish with a lemon wedge.

Jun 27

News:

Just Kidding

A judge ruled Energy Transfer Equity LP can run away from its deal to buy rival pipeline operator Williams Cos. due to fears of an unexpected tax bill. The ruling, handed down Friday, stated Energy Transfer’s lawyers weren’t deliberately sandbag the merger when they announced they couldn’t deliver a necessary opinion on the deal’s tax treatment. Without the legal opinion the deal, originally valued at $33 billion when it was signed last fall, can’t close by the Tuesday deadline both companies had agreed upon. Williams had accused Energy Transfer of using the tax opinion issue to wiggle out of the takeover, which Energy Transfer had come to regret as dropping oil prices dragged on.

Press The Button

On-line ecommerce giant, Amazon is expanding its Dash push-button ordering devices despite getting a cool reception from consumers. Amazon will announce this week it plans to add dozens of new brands to its Dash button feature. Rolled out in 2015, Dash push buttons are thumb-drive-sized devices which enable shoppers to order things like detergent and toilet paper by simply pressing a button. Customers are encouraged to put the wireless devices by their washing machines or refrigerators for easy and quick reordering. But fewer than half the people who bought the Dash button since March 2015 have used them to actually place an order. Customers who do make a purchase do so on average ever two months. Several consumer-product executives said they signed their products up to be available on the Dash button to ensure their brands maintain close ties to Amazon and are using more as a marketing tool than a product-delivery system. Customers who would like to us the Dash buttons, which are only available to Amazon Prime memberships, can buy their favorite brand button for $5.

Markets:

Asia: Asian markets started their week off in the green despite the political turmoil in the UK.

Europe: European markets tumbled after voters opted to get to out of the European Union.

U.S: U.S. stocks followed the trend tumbling over 600 points, as the uncertainty of what the world will look like when the U.K pulls out of the EU weighted on investor sentiment. DJIA: -611.21 17399.86 NASDAQ: -202.06 S&P: -76.02 2037.30

Word of The Day:

Yield Curve:

A line that plots interest rates, at a set point in time, of bonds having equal credit quality, but differing maturity dates. Most frequently used to compare the three month, two-year, five-year, and thirty-year U.S Treasury debt. The yield curve is used as a benchmark for other debt markets like mortgage rates or bank lending rates.

Dinner or Drink:

Capri Sun

1 1/2 oz. Captain Morgan® Parrot Bay pineapple rum
1 1/2 oz. DeKuyper® Island Blue Pucker schnapps
1 splash cranberry juice
1 1/2 oz. 7-Up® soda
1 1/2 oz. pineapple juice

Fill glass with ice. Pour Parrot Bay Pineapple Rum and Island Blue Pucker. Add equal parts of 7-up & pineapple juice in that order, top off with a splash of cranberry juice. Cherry to garnish.

Like our drink, click here for more.

Jun 24

News:

Outta Here

Britain has decided the U.K will leave the European Union in a historic referendum. The vote was a close one with 52 percent to 48 percent in favor of leaving the union. The results of the vote has global markets tumbling on Friday and could have long lasting ramifications, like changing the borders of the United Kingdom itself. Britain is a union of four nations- England, Scotland, Wales, and Norther Ireland. Each of the remaining countries now will want a say in wither they want to join Britain in leaving the EU or stay in the EU by separating from Great Brittan.  With the uncertainty of what the future will look like London’s stock market fell more than 7% within minutes of the markets opening on Friday morning, while shares of British banks tumbled 30%. Asian market followed suit with Japan’s Nikkei slumping nearly 8 percent. The futures, a prediction of where a market will open at, has the Dow Jones opening negative 500. As this is a historic event only time will tell what effect the U.K decision to leave will have on the global economy.

You’re Out

Longtime leader Terry Lundgren will step down as Macy’s chief executive at a time when the company he built is struggling to adapt to the changing demands of consumers. The big box retailer will appoint President Jeff Gennette, one of Lundgren’s top lieutenants, to take over as CEO in 2017. Gennette will join the company’s board immediately and take over additional oversight of store operations. Macy’s directors accelerated the announcement to give him the freedom to begin the reshaping process now. Shares of Macy’s, which rose to $33.38 on Thursday, have lost nearly half of their value in the past 12 months.

Markets:

Asia: Asian markets tumbled on Friday as British voters decided they wanted out of the EU.

Europe:  European stocks closed sharply higher as investors speculated whether Britain will remain a member of European Union.

U.S:  Stocks closed higher on Wall Street, as markets hope Great Britain will remain in the European Union.  DJIA: +230.24 18,011.07 S&P: +27.87 2,113.32 NASDAQ: +76.72 4,910.04

Word of The Day:

Dollar Cost Averaging:

A technique used to buy a fixed dollar amount of a particular investment on a regular schedule, regardless of price. Theoretically, most shares are purchased when prices are low, and fewer shares are purchased when prices are high.

Dinner or Drink:

Lights Out

1 oz. vodka
1 oz. Jägermeister® herbal liqueur

 

Shake ingredients in a cocktail shaker with ice. Strain into glass.

Have a safe and wonderful weekend, Ya’ll!

Jun 23

News:

Safe….

U.S. regulators and Bank of America (BAC) are in engaged in settlement talks over allegations the bank violated rules designed to safeguard client accounts. The Securities and Exchange Commission had been investigating wither Bank of America had proper controls in place for customer and retail brokerage funds. One of the issues the bank is being investigated for involves whether the bank used complicated trades and loans to free up billions of dollars in cash for its own uses instead of setting it aside to meet regulatory requirements. The unofficial settlement number could be as much as $400-450 million. A settlement announcement could come as soon as Thursday.

Here Comes The Sun

On Tuesday, Tesla Motor announced its plan to acquire SolarCity in an all cash deal worth $2.8 billion. By Wednesday, share of the motor company plunged 10% as investor voiced their opinion of the possible transaction. Both investors and analyst raised concerns Tesla’s takeover could prove a diversion from the electric-car maker and worsen the company’s financial strain. Both SolarCity and Tesla are unprofitable, and SolarCity has lost more than 60% of its value over the last 12 months. Shares of Solar City (SCTY) closed higher, up $0.69, while share of Tesla (TSLA) closed down $22. 95 in Wednesday trading.

Markets:

Asia: Asian markets closed mostly higher on Thursday, as investors remain jittery ahead of the U.K referendum vote on Thursday.

Europe: European markets closed higher on Wednesday as investors prepare for what Thursday’s EU exit vote will bring.

U.S: U.S. markets closed lower as last minute polls reveal the vote to leave the EU is closer than investors first thought.  DJIA: -48.90 17,780.83 NASDAQ: -10.44 4,833.32 S&P: -3.45 2,085.45

Word of the Day:

Underweight

Refers to a situation where a portfolio does not hold a sufficient amount of a particular security when compared to the underlying benchmark portfolio.

Dinner or Drink:

Capri Sun

1 1/2 oz. Captain Morgan® Parrot Bay pineapple rum
1 1/2 oz. DeKuyper® Island Blue Pucker schnapps
1 splash cranberry juice
1 1/2 oz. 7-Up® soda
1 1/2 oz. pineapple juice

 

Fill glass with ice. Pour Parrot Bay Pineapple Rum and Island Blue Pucker. Add equal parts of 7-up & pineapple juice in that order, top off with a splash of cranberry juice. Cherry to garnish.

Jun 21

News:

Switching

Wal-Mart Stores Inc. is switching its China strategy, striking a deal with one of the country’s largest e-commerce players rather than continue to try to break into the competitive Chinese online market. Wal-Mart announced Monday it will sell its online grocery store unit, Yihaodian, to China’s second-largest online retailer, JD.com. As part of the deal Walmart will receive a 5% stake in JD.com, valued at approximately $1.5 billion, and access to the company’s delivery network and shoppers. The move marks a significant shift in Wal-Mart’s plan for China, where it owns and operates more than 400 brick and mortar stores, from creating buzz on its own to now leveraging existing companies in the online space.

Come Join Us…

Marathon Oil Corp. (MRO) announced Monday it will buy PayRock Energy Holding LLC for $888 million.  The acquisition will give the company an area of Oklahoma known as the Stack, where oil producers are finding they can make money at $45 a barrel. PayRock’s current daily 9,000 net barrels of oil equivalent will boost Marathon’s holdings in Oklahoma to more than 200,000 areas. The company hopes to put at least 4 drilling rigs to work in the Stack by next year.

Markets:

Asia: Asian markets closed mixed on Tuesday after Monday’s global rally and gains in oil prices.

Europe: Europe closed higher on Monday, as investor jitters seemed to have calmed down after a weekend poll said voters will most likely stay in the EU.

U.S: Wall Street rose after polls show voters will stay in the EU. DJIA: + 129.78 17804.94 S&P +12.03 2038.25 NASDQ +36.88 4837.21

Word of The Day:

Russell 3000

A market weighted capitalization benchmark of the entire U.S. stock market maintained by the Russell Investment Group.

Dinner or Drink:

Midnight Oil

1 1/2 oz. amaretto almond liqueur
1/2 oz. Jagermeister® herbal liqueur

 

Mix in the shot glass. (Ingredients should not be chilled.)

Jun 20

News:

Banned….

Intellectual property regulators in Beijing have barred Apple from selling its iPhone 6 and 6 plus n the city, citing the phones infringe on an existing Chinese phone. Beijing regulators claim the iPhones infringed on the patents of 100C mobile phones made in China. The announcement is just another speed bump for Apple and its largest market outside the United States. In April, the country shut down Apple’s iBooks and iTunes because the company did not have the appropriate licenses. Apple’s issues in China have already started to affect its share price. In April, Billionaire investor Carl Ichan, sold his positions in the company as a result of China’ attitude toward Apple. Shares off the tech giant, like the overall market, closed lower in Friday trading.

Red Door

Cosmetic company, Revlon Inc. (REV) has agreed to buy rival Elizabeth Arden Inc. (RDEN) month’s after Revlon contemplated putting itself up for sale. The $420 million all-cash deal will help expand Revlon’s presence in skin care and perfume while giving the company a broader geographic footprint. The deal will also help Revlon refinance its heavy debt load. Both cosmetic companies have struggled in recent years. Revlon has been continued to be weighed down by its debt, while a key part of Elizabeth Arden’s portfolio, celebrity fragrances, have fallen out of favor. Shareholders of Elizabeth Arden will receive $14 a share for each share owned. Revlon will use $2.6 billion of new financing commitments from Bank of America Merrill Lynch and Citigroup to fund the purchase and refinance both $1.8 billion in long-term debt and Arden’s existing debt.

Markets:

Asia: Asian markets closed higher on Monday after weekend polls point to the U.K. staying in the EU.

Europe: European equities ended higher on Friday after a positive trading session in Asia, a rally in banking stocks and in oil prices.

U.S: U.S. stock finished out their week lower as investors weight nervously for next week’s Brexit vote on June 23. DJIA: -57.94 17675.16 S&P: -6.77 2071.22 NASDAQ: -44.58 4800.34

Word of The Day:

European Union (EU)

The European Union is an economic & political union of 28 member states that are primarily located in Europe.   Its de facto capital is Brussels, and its goal is to develop a single market system of standardized laws and currency that will be applied to all member states.

Dinner or Drink:

Big Red

2 oz. Goldschlager® cinnamon schnapps
2 oz. Captain Morgan® Original spiced rum
6 oz. orange soda

Stir ingredients together in a Collins glass 2/3 filled with ice cubes, and serve.

Jun 16

News:

Filled with Joy….

Samsung Electronics announced it will buy U.S. cloud services company, Joyent Inc., for an undisclosed sum. The move highlights Samsung’s willingness to snap up outside companies as it beefs up the software and services around its core mobile-phone business. Joyent will allow Samsung to use powerful remote computers to boost its data analysis and computing capabilities of its devices. In a statement the company said it will integrate Joyent into its mobile division however, both companies will remain independent and keep their top management in place.

Fed Speak

On Wednesday, the Federal Reserve wrapped up their two meeting. In light of next week’s referendum vote in Great Britain and last month’s slow jobs gain, the committee voted to keep its key benchmark rate unchanged. The big news out of the meeting was the lower projection of how much the committee will raise rates in the coming years, a complete 180 to what the fed had previously said. The policy shift is a sign that persistently slow economic growth and low inflation are forcing the bank to rethink their strategy.

Markets:

Asia: Asian markets closed lower on Thursday after the Bank of Japan and the Federal Reserve decided to keep their rates unchanged.

Europe: European markets closed higher on Wednesday as markets awaited word from the Federal Reserve’s two day meeting.

U.S: U.S markets closed lower extending their five day losing streak as investors reacted to comments from Federal Reserve. DJIA: -34.65 17,640.17 NASDAQ: -8.62 4,834.93 S&P: 3.82 2,071.50

Word of The Day:

CBOE Volatility Index aka. The VIX

An index which shows the market’s expectations of the next 30-days volatility.

Dinner or Drink:

Cloud Walker

1 oz. Lapponia Lakka cloudberry liqueur
3/4 oz. Johnnie Walker® Scotch whisky
1/3 oz. lime juice
2 oz. lemonade

 

Pour into an old-fashioned glass filled with broken ice. Add a lime slice, and serve

Jun 13

News:

Get Out…

Drugstore giant Walgreen Co has formally ended its strained alliance with embattled blood test maker, Theranos Inc. The decision comes as regulators are still deciding if they will impose sanctions against the company. Officials at Walgreens had grown frustrated at not receiving more details and documentation from Theranos after learning the company had corrected tens of thousands of blood tests, including samples collected from patients at Walgreens pharmacies. In a statement released Sunday, Walgreens said it had terminated its three year deal effective immediately, and was shutting down Theranos lab-testing services inside its stores. Walgreens will work over the next several days to help transition customers.

Protection….

Embattled Media company, Gawker, filed for bankruptcy protection on Friday. In declaring bankruptcy, Gawker has also agreed to sell its seven media brands and other assets to digital media company Ziff Davis. Gawker’s Chapter 11 filing comes less than three months after a court awarded ex-wrestler Hulk Hogan a $140 million judgement against the digital publisher.

Markets:

Asia: Asian markets closed down as a higher Yen caused investors to run away from the exporters.

Europe: European stocks retreated on Friday as investors continue to wonder about the strength of the global economy.

U.S. Markets tumbled after a poll said most UK citizens will vote to exit the EU. DJIA: -119.85 17,865.34 S&P: -19.41 2,096.07 NASDAQ: -64.09 4894.55

Word of The Day:

Asset Allocation

An investment strategy aimed at balancing risk and reward by appropriating a portfolio’s assets according to the investor’s goals, risk tolerance, and investment horizon.

Dinner or Drink:

Monday Cocktail

1 1/2 oz. whiskey
1/2 oz. brandy
1/2 oz. blueberry brandy
1/2 oz. lemon juice
1 tsp sugar

Shake all ingredients with ice; strain into an old-fashioned glass. Garnish with an orange slice if desired.

Jun 10

News:

Heaven On Earth

What could possibly make Twinkie’s, with its light-as-air filling surrounded by four inches of luscious sponge cake, any better? Two words… Deep Fried. Hostess makers of Twinkies, Ding Dongs, Ho Hos and other treats is rolling out fried Twinkies on August 22. There is a catch… they are exclusive to Walmart (WMT) stores for the first six months.

We Have A Problem…..

Federal regulators are reviewing reports Tesla Model S sedans may have suspension problems and looking into whether the company urged customers to sign agreements not to disclose the problem. The safety review follows reports of a possible defect in the Model S suspension that can cause the control arms to break, causing the driver to lose control of the car. In addition the National Highway Transportations Safety Administration is also looking into allegations Tesla has Model S owners, who had suspension problems, in return the company picked up half the repair bill to fix the vehicle. Shares of Tesla fell $6.16 in Thursday trading.

Markets:

Asia: Asian markets closed out the week in the red after Japan’s bond yield hit a record low signaling investors are running toward safety.

Europe: European markets closed sharply lower on Thursday as a pullback in oil along with growing concern about the global economy downed investor sentiment.

U.S: U.S markets broke their three day winning streak on Thursday as investors took profits. DJIA: -19.86 17,985.19 S&P: -3.64 2,115.48 NASDAQ: -16.02 4,958.62

Word of the Day….

Bond yield

The amount of return an investor would receive if they hold the bond to maturity.

Dinner or Drink:

Twinkie Shooter

1/2 oz. crème de bananes
1/2 oz. white crème de cacao
splash of pineapple juice
splash of milk
whipped cream

 

Pour all your ingredients into a tin with ice, except for the whip cream. Shake and strain into a shooter glass. Spray the whip cream into the center of the shooter so that it feels the middle and a little comes out of the top so it looks like an upside down Twinkie.

Like our drink today, click here for more.

Have a safe and wonderful weekend, Ya’ll!

Jun 9

News:

Refunds Only

Keurig Green Mountain (GMCR) will refund customers their money, who bought its Keurig Kold soda machine. The machine, which debuted last year in time for the holiday season, was doomed from the start as customers immediately started to complain it was too big, too expensive, and made loud noises. The company stopped selling the machines and its accessories on June 7 and will keep selling the pods at a discount until the company runs out. For interested customers, Keurig has announced it will refund the original selling price of $370 since machines will be rendered unless after the company runs out of the pods needed to produce the soda. Customers who are interested in a refund can visit DrinkMakerRefund.com, put in their machines serial number and should receive their money within two to three weeks.

Back In the Saddle

After a long hiatus, legendary investor George Soros, is returning to trading. Lured back to his first love by opportunities to profit from what he sees as coming economic troubles. Soros is worried about the outlook for the global economy and concerned large markets shifts may be at hand. Recently, the billionaire hedge-fund founder and philanthropist bought gold in anticipation of global market weakness. Gold is often thought of as a safe haven during turmoil. Soro earned fame with a bet against the British pound in 1992 leading to $1 billion in profits.

Markets:

Asia: Asian markets, that were open, closed lower on Thursday, as a weaker dollar weighed on Japan’s shares.

Europe: European stocks closed lower on Wednesday as concerns over the health of the global economy continued to weigh on investors.

U.S: U.S. shares closed higher on Wednesday lead by materials and industrial stocks. DJIA: +66.77 18,005.05 NASDAQ: +12.89 4,974.64 S&P: +6.99 2,119.12

Word of The Day:

Asset Allocation

An investment strategy which aims to balance risk and reward in your portfolio among the four asset classes (stock, bonds, alternative investments and cash).

Dinner or Drink:

Gold Fizz

1 oz. peach vodka
1 oz. Raspberry vodka
1 splash cranberry juice
6 oz. Red Bull® energy drink

Build over ice in a pint glass.

Like our drink, click here for more.

Jun 6

News:

Leaving The Nest

On Friday, home-automation unit Nest, announced CEO Tony Fadell will be leaving. Mr. Fadell’s departure follows reports he had been losing support from some of his fellow nesters and struggling with new financial constraints from Alphabet. A specific reason was not given for the exit however, he will continue to work as an adviser to Alphabet CEO Larry Page. Nest has tapped Marwan Fawaz, former executive vice president at Motorola Mobility, as its new CEO.

Winning

An arbitration panel ordered broker Morgan Stanley (MS) to pay more than $8.6 million to a retiree for losses tied to alleged unauthorized trading and unsuitable investments. Dennis Doyle and his wife, both in their 70’s, alleged financial elder abuse in their claim against Morgan Stanley filled last year with regulators. According to the Doyle’s attorney, their account held a risky unsuitable Chinese’s internet company and over $2 million in commission charges. In an award document dated June 1, regulators awarded the Doyle’s $6.1 million in damages, along with $2 million in punitive damages, and more than $491,700 in legal costs.

Markets:

Asia: Asian markets closed mixed on Monday as investors reacted to Friday’s U.S. jobs report surprise.

Europe: European shares closed lower on Friday after the U.S monthly jobs report showed only 38K jobs were created.

U.S:  U.S. stocks ended the week lower after worse than expected economic data potentially took a June rate hike off the table. DJIA: -31.50 17,807.06 S&P: -6.13 2,099.13 NASDAQ: -28.55 4,942.52

Word of The Day:

Bund

A bond issued by the Germany federal government in 10- and 30- year denominations. German bunds are the equivalent of U.S Treasury bonds.

Dinner or Drink:

Mango Sunset

  • 1 1/4 parts Single Barrel Rum
  • 3/4 part Mango Rum
  • 1 1/2 parts fresh Lemon Sour
  • 1/2 part Mango Puree
  • 1/2 part Pomegranate Juice
  • Lime Wheel
  • Pomegranate Seeds

Shake all ingredients, except the pomegranate juice, with ice until well blended. Strain into a chilled cocktail glass. Slowly pour pomegranate juice into the center of the cocktail so that it settles to the bottom. Garnish with a lime wheel and pomegranate seeds.

Jun 3

News:

Jobs, Jobs, Jobs

On Friday, the Department of Labor released its monthly jobs report. According to the report the overall economy gained 38,000 jobs well below the 162,000 analyst expected. The unemployment rate is now at 4.7%.

Tea Time

Coffee giant Starbucks and the country’s biggest beer distributor are coming together to make tea. According to Thursday’s announcement Anheuser-Busch InBev NV will help Starbucks produce, bottle, and distribute a ready-to-drink line of Teavana brand tea. The move will help AB InBev fill capacity at the companies breweries as U.S. beer volumes have been falling while also giving its network of distributors a nonalcoholic beverage to sell. For Starbucks, the move broadens it reach beyond coffee, a move the company has been making in hopes of finding a new avenue of growth.

Markets:

Asia: Asian markets closed higher on Friday as investors wait for the NFP report from the U.S and its possible clues when the fed could raise rates.

Europe: European closed slightly higher despite the ECB deciding to keep interest rates unchanged.

U.S: U.S markets closed higher on Thursday as economic data painted a rosier picture. DJIA: +45.88 17836.17 S&P: +5.76 2105.09 NASDAQ: +19.11 4971.36

Word of The Day:

Market Capitalization

Market capitalization is calculated by multiplying a company’s outstanding shares by the current market price of one share. Market Capitalization is used to determine whether a company is categorized as a small cap, mid cap, small/mid cap, or large cap.

Diner or Drink:

The Rider

  • 1 part Bourbon Whiskey
  • 1 part Honey Bourbon Whiskey
  • 1 part Orange Juice
  • 1 Sugar Cubes
  • Garnish with Orange Zest, Flamed

 

Soak the sugar cube on a bar spoon. Add to glass. Stir in fresh pressed orange juice, Honey Bourbon and Bourbon. Top with cracked ice, garnish and serve.

Like our drink today, click here for more.

Have a safe and wonderful weekend, Ya’ll!

Jun 2

News:

Now Hiring

On Thursday, private payroll provider ADP released its monthly jobs report. According to the report, 173,000 jobs were created in May, in line with analyst estimates. Next stop, tomorrow’s Department of Labor report on jobs created in the overall economy.

The Book….

The Federal Reserve released its Beige Book report on Wednesday. The report stated the economy grew at a modest pace across much of the country from April to mid-May, despite several headwinds such as slower consumer spending and ongoing weakness in the manufacturing and energy sectors. The Fed’s report found that half of its 12 regions had modest growth, while Dallas saw a marginal increase. The results will be part of the Fed’s discussion at its next meeting on June 14-15. The information contained in the report could be used as a reason for the fed to hold off on a rate hike in June.

Stranger Danger

As part of the long-awaited Consumer Financial Protection Bureau ( CFPB)  proposal, lenders who offer payday loans and other small denominated loans will have to access whether a borrow can actually afford the debt and actually repay it before handing the borrower the cash. Among several other rule changes in the proposal is a measure that requires lenders cut off repeated debit attempts that hit overdue borrowers with additional fees and charges. The proposal is the direct result of a 2014 CFPB study which found roughly 62% of all payday loans carried an annual interest rate of approximately 390% forcing customers who repeatedly extended their repayment to ultimately owe more in fees than what they initially borrowed. All the proposed changes are available for public comment through September 14.

Markets:

Asia: Asia markets closed mostly lower on Thursday after investors interpreted Japan’s delay of its sales-tax hike as a negative sign on the country’s economy.

Europe: European stocks finished lower on Wednesday as sharp declines from banks and miners weighted on investor sentiment.

U.S: U.S. shares closed flat on Wednesday as investor waited patiently for news from Thursday’s payroll numbers, ECB rate hike decision and OPEC. DJIA: +2.47 17,789.67 S&P: +2.97 2099.33 NASDAQ: +4.20 4952.25

Word of The Day:

Hawk

A policymaker or advisor who is primarily concerned with interest rates and their relationship to fiscal policy. Generally a hawk will favor higher interest rates to help keep inflation in check.

Dinner or Drink:

Warped Thursday

6 oz. cherry cola
5 oz. vodka
1/4 packet Kool-Aid® Tropical Punch mix

Empty half a can of cherry coke, pour the vodka into the can, and then pour in the Kool-Aid. Alternatively, use a 12oz glass

Jun 1

News:

All Purpose

General Mills on Tuesday issued a rare recall of its baking and cooking flour. The company is recalling 10 million pounds of flour because of a possible link to E.coli which has sickened 38 people in 20 states since December. The recall covers some bags of Gold Medal self-rising flour, Gold medal Wondra quick-mixing flour, Gold Medal bleached and unbleached, and Signature Kitchen bleached and unbleached. Consumers are encouraged to consult the General Mills for a full list of the recalled flours.

 Electric

On Tuesday, Missouri-based Great Plains Energy (GXP) announce it will buy Kansas’ Westar Energy (WR) for around $8.6 billion. The deal, which still requires regulatory and shareholder approval, would be a major consolidation in the utilities sector allowing the new company to control costs and consumer rates. Shareholders of Westar will receive $51 in cash and $9 worth of Great Plains stock, a 13% premium to Westar’s closing price on Friday. The deal should close in the spring of 2017.

Markets:

Asia: Asian shares closed lower on Wednesday after China’s PMI came in flat.

Europe: European markets closed lower on Tuesday as investors looked toward this week’s ECB and OPEC meetings.

U.S: U.S. stocks closed mixed on the last trading day of May, as investor fears of a June rate hike kept trading unpredictable.

Word of The Day:

Purchasing Managers Index (PMI):

An economic indicator of a country’s manufacturing private sector health from one month to the next. The index compiled by the Institute of Supply Management is based on five major indicators:

  •  New Orders
  • Inventory Levels
  • Production
  • Supplier Delivers
  • Employment Environment

A reading of 50 represents expansion in the manufacturing sector, compared to the previous month. A reading under 50 represents a contraction, while a reading at 50 indicates no change.

Dinner or Drink:

Absolut Summertime

1 1/2 oz. Absolut® Citron vodka

3/4 oz. sweet and sour mix

1/2 oz. Sprite® soda
3 oz. soda water
1 slice lemon

 

Add all ingredients except lemon to shaker filled with ice. Cover and shake vigorously. Strain contents into ice filled Collins glass. Garnish with lemon.

Mailing List

© 2013 Before 24 / Contact / Privacy Policy / Legal