Futures
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*Cane crush in Brazil gathers pace. *Traders expect huge off-year arabicas crop in Brazil. NEW YORK/ LONDON, May 24- Arabica coffee futures on ICE extended losses to the lowest in more than three years on Friday, as computer-based traders continued to sell, while raw sugar inched higher following the previous session's turnaround up from the lowest since 2010..
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The Fast Money traders with the trade on Red Hat. Also, the play on gold, with Dennis Gartman, The Gartman Letter, who says he remains neutral on the precious metal. And the trade on Sprint and whether it was worth it for AT&T to take the hit.
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Mario Draghi has warned of the costs of a euro zone break-up, breaching a taboo for a president of the ECB, even as he sought to play down market expectations about the bank’s role in combating the sovereign debt crisis. The FT reports.
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The governor of France’s central bank has said Britain is more deserving of losing its top-notch credit rating than France as Paris braces itself for a potential downgrade of the country’s triple A status.
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A draft prospectus prepared for the latest euro zone bail-out instruments includes explicit warnings to investors that the euro could break apart or even cease to be a “lawful currency” entirely. The FT reports.
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Witching hour may sound like a bar promotion on Halloween night, but it's really three important time periods for investors and the markets. So what are they and how do they impact investors? CNBC explains.
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Whom the gods wish to destroy they first make mad. That was my reaction to the outcome of last week’s meeting of the European Union’s Council. Many focused their attention, understandably, on the decision by David Cameron, UK prime minister, to veto a new treaty. The FT reports.
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Hostile bank takeovers should be outlawed as part of a package of reforms needed to avoid a repeat of the catastrophic failings at Royal Bank of Scotland, the chairman of the Financial Services Authority has urged after releasing a long-delayed report into the the bank’s collapse. “[They] should either be completely banned or the regulator should have the power to block them,” Lord Turner told the Financial Times.
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The Federal Reserve will have a policy meeting tomorrow. Discussing expectations for the rest of the week's bond auctions, with Jack Bouroudijan, Index Futures Group CEO.
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Europe’s banks have slashed their holdings of sovereign debt issued by the peripheral nations of the eurozone, selling 65 billion euro ($87 billion) of it in just nine months. The FT reports.
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Lloyds Banking Group’s chief executive António Horta-Osório is having to reapply for his own job as doctors prepare to give him the go-ahead to return to work from sick leave.
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Megain Widjaja, CEO of Indonesia Commodity & Derivative Exchange talks about the launch of palm olein futures today on ICDX.
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US lenders pushing short-term loans that charge up to 5,000 per cent interest per year are targeting low-income UK borrowers abandoned by high street banks. The Financial Times reports.
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Ken Clarke has put himself at odds with David Cameron by saying Britain should focus on “how to maintain the financial stability of the western world” at this week’s European Union summit, instead of trying to wring concessions out of euro zone countries. The FT reports.
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The Fast Money traders weigh in on unusual activity in the VIX and natural gas plays as the commodity's down more than five percent in the last couple days.
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Discussing whether leveraged ETFs are at the root of today's market volatility, with Matt Hougan, IndexUniverse, and CNBC's Herb Greenberg.
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British banks are braced for the most contentious bonus season since the start of the financial crisis as shareholders ratchet up pressure on pay and regulators push for a radical overhaul of how lenders measure the performance of their most senior staff. The FT reports.
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Standard and Poor’s has warned Germany and five other triple-A rated members of the euro zone that they risk having their top-notch ratings downgraded as a result of deepening economic and political turmoil in the single-currency bloc.
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Businesses breaching European Union privacy rules will face fines of up to 5 percent of their global turnover under sweeping proposals to be unveiled next month. The FT reports.
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This month Erskine Bowles – the American political figure who co-headed a bipartisan fiscal panel last year – is launching a desperate new crusade. As Europe writhes in fiscal meltdown, Bowles is quietly appealing to American chief executive officers to join a new “CEO fiscal reform council” on how to tackle America’s debt headache – and prevent the nation from following Europe’s fate. The FT reports.
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International companies are preparing contingency plans for a possible break-up of the euro zone, according to interviews with dozens of multinational executives, the FT reports.
Futures Now
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Goldman Sachs recently upped its target on the S&P 500, but Doug Kass of Seabreeze Partners doesn't agree and makes the argument that a market correction could come soon. With CNBC's Jackie DeAngelis and the "Futures Now" traders. (1:46)
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Last week, Peter Schiff predicted trouble in Japan would spike gold. A discussion about whether gold has found a floor, with CNBC's Jackie DeAngelis and the Futures Now Traders.
Commodities
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Lean ground beef is up 21 percent to $4.81 per pound, reports CNBC's Jane Wells. And it could turn more consumers to cheaper cuts of meat.
