US stocks drop on lower odds for a Fed rate cut. Markets Right Now: Stocks drop on shifting odds for rate cut. Asian shares retreat ahead of Fed statement to Congress.
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The Early Bird Newsletter

Tuesday, July 9th

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US stocks drop on lower odds for a Fed rate cut
Politics

US stocks drop on lower odds for a Fed rate cut

Stocks are down on Wall Street in early trading amid growing speculation among investors that unexpectedly strong U.S. employment data may keep the Federal Reserve from aggressively cutting interest rates

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Markets Right Now: Stocks drop on shifting odds for rate cut
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Markets Right Now: Stocks drop on shifting odds for rate cut

The latest on developments in financial markets (all times local): 4:00 p.m. Stocks are closing lower for a second straight day as investors try to gauge the Federal Reserve's next move on interest rates. A strong U.S. jobs report Friday dimmed investors'...

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Moshe Kahlon, Thomas Schreck
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Asian shares retreat ahead of Fed statement to Congress

Asian shares retreated Tuesday in quiet trading as investors awaited signs of what might be ahead for U.S. interest rates. Japan's benchmark Nikkei 225 was flat at 21,526.22, while Australia's S&P/ASX 200 dipped 0.3% to 6,653.60. South Korea's Kospi was marginally lower, down 0.1%...

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US consumers step up borrowing at healthy pace in May
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US consumers step up borrowing at healthy pace in May

U.S. consumers borrowed more on their credit cards in May and also took out more student and auto loans, a modest sign of economic health. The Federal Reserve said Monday that consumer borrowing increased 5% that month, just below April's 5.2% rise. Total outstanding consumer debt, wh...

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Bible shortage? Publishers say tariffs could cause it
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Bible shortage? Publishers say tariffs could cause it

Religious publishers say President Donald Trump's most recent proposed tariffs on Chinese imports could result in a Bible shortage. That's because millions of Bibles — some estimates put it at 150 million or more — are printed in China each year. Critics of a proposed tariff say it wo...

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Jacek Czaputowicz, Wang Yi
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Poland wants China to open market further for exports

Poland's foreign minister says the country would like China to open up its market further to goods from Poland. Jacek Czaputowicz spoke Monday following talks with China's Foreign Minister Wang Yi on intensifying political and business ties between the two nations. Czap...

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Mike Hunter
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Oklahoma judge denies motion to end case against drugmaker

An Oklahoma judge decided Monday the state's ongoing opioid drug lawsuit against consumer products giant Johnson & Johnson can move forward, rejecting the company's argument that the state failed to prove its public-nuisance claim. District Judge Thad Balkman denied Johnson & ...

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Deutsche Bank cuts mark end to failed bid for global scale
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Deutsche Bank cuts mark end to failed bid for global scale

The radical and painful restructuring of Germany's Deutsche Bank, which is cutting 18,000 jobs, is the end of a long, failed attempt to compete with the global investment banking giants that left it overextended

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Saudi carrier cancels troubled Boeing 737 order for Airbus
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Saudi carrier cancels troubled Boeing 737 order for Airbus

Boeing's campaign to restore the reputation of its best-selling plane after two deadly crashes suffered a blow with a Saudi airline canceling an order worth up to $5.9 billion in favor of a European rival of the U.S. manufacturer. Flyadeal, the budget airline arm of Saudi Arabian Airl...

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Women's league seeks more fans, sponsors after US title
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Women's league seeks more fans, sponsors after US title

Megan Rapinoe, the lavender-haired icon of women's soccer, maintains that green is the key to her sport's sustainability. "For me, it's about the Benjis," she said. Women's soccer engages the U.S. every four years, then disappears for most fans like a comet leaving the ...

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More alcohol seized in connection to resort for ultra-rich
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More alcohol seized in connection to resort for ultra-rich

Montana officials say they confiscated over 800 bottles and cans of alcohol in a raid just days after the Yellowstone Club signed a deal to settle charges of serving booze at unlicensed bars at the private ski resort for the ultra-rich

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AP: Federal grand jury probing GOP fundraiser Elliott Broidy
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AP: Federal grand jury probing GOP fundraiser Elliott Broidy

A federal grand jury in New York is investigating top Republican fundraiser Elliott Broidy, examining whether he used his position as vice chair of President Donald Trump's inaugural committee to drum up business deals with foreign leaders, according to documents obtained by The Associated Press and...

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Kyriakos Mitsotakis
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Greece creditors say no changes in bailout terms for new PM

Greece's bailout creditors on Monday bluntly rejected calls from the country's new conservative government to ease draconian budget conditions agreed as part of its rescue program. Conservative party leader Kyriakos Mitsotakis was sworn in as Greece's new prime minister Monday, a day ...

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The Early Bird Stock Of The Day

Energy Transfer LP Unit

Energy Transfer LP provides energy-related services in the United States and China. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and approximately 12,200 miles of interstate natural gas pipelines. It sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies. The company owns and operates natural gas gathering and natural gas liquid (NGL) pipelines, processing plants, treating facilities, and conditioning facilities in Texas, New Mexico, West Virginia, Pennsylvania, Ohio, and Louisiana; natural gas gathering, oil pipeline, and oil stabilization facilities in South Texas; a natural gas gathering system in Ohio; and transportation and supply of water to natural gas producers in Pennsylvania. It also owns approximately 4,769 miles of NGL pipelines; NGL and propane fractionation facilities; NGL storage facilities with working storage capacity of approximately 45 million barrels (Bbls); and other NGL storage assets and terminals with an aggregate storage capacity of approximately 11 million Bbls. The company also sells gasoline, middle distillates, and motor fuel at retail, as well as crude oil, NGLs, and refined products; operates convenience stores; and distributes motor fuels and other petroleum products. It provides natural gas compression services; carbon dioxide and hydrogen sulfide removal, natural gas cooling, dehydration, and British thermal unit management services; and manages coal and natural resources properties, as well as sells standing timber, leases coal-related infrastructure facilities, collects oil and gas royalties, and generates a total of 75 megawatts electrical power. The company was formerly known as Energy Transfer Equity, L.P. and changed its name to Energy Transfer LP in October 2018. Energy Transfer LP was founded in 2002 and is based in Dallas, Texas.

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