Russia Needs a Crisis to Change: Roubini
It would take a sharp fall in the price of oil or another crisis to change Russia’s economic system for the long term, Nouriel Roubini, economist and New York University Professor, told CNBC Thursday.
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The ISM Manufacturing Index slipped to 59.7 in May from 60.4 in April, and construction spending jumped 2.7% in April. CNBC’s Steve Liesman parses the data.
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S&P About To Retest 1040 Support?
“As far as I’m concerned the technicals are in tact, says Guy Adami. We said the S&P would over-correct to the upside and trade up to 1130 and then turn lower — and it did. Now we’re likely in the next leg lower. We have to see what happens as the S&P trades down to the lower end of the range – around 1040 – will it hold next time we test it?
The patterns in the S&P suggest that support will not hold this time, adds Oppenheimer’s Carter Worth. My persumption is we break lower. I think we go to 980. I don’t think a great crash is coming but we are clearly entering a period when the downside should be the focus of investors.”The Political Economy
Political pressure is rising ahead of the midterm elections, with Greg Valliere, Potomac Research Group, Allen Sinai ,Decision Economics.
