Fred's files new notice to lay off dozens more employees in Shelby County

With bankruptcy proceedings underway, Fred's layoffs will now follow. According to a Sept. 13 WARN (Worker Adjustment and Retraining Notification) notice filed with the State of Tennessee Department of Labor and Workforce Development, Fred's plans to lay off 90 people in Shelby County this November.

Why the Saudi oil attack is a ‘big deal’ that could be a ‘game changer’ in stock markets and crude prices

An intensifying Middle East conflict is threatening to throw the world's energy market into disarray after weekend drone attacks destroyed parts of Saudi Aramco's Abqaiq plant — one of the world's largest processors of oil — and a separate nearby oil field. On Saturday, the drone attacks, directed at Saudi Arabian oil facilities that account for nearly 10 million barrels of crude-oil production, resulted in massive plumes of black smoke emanating from the oil field, and a shutdown that could lead to about 50% of its production being at least temporarily thrown offline. Prominent crude-oil strategist Phil Flynn at Price Futures Group told MarketWatch on Sunday that the drone strike was a “big deal” that could result in a major spike in crude-oil prices, because of the potential disruption to global supplies.

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  Unprecedented drone attack on Saudi oil supply brings Middle East closer to brink of war

  The Independent
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  Oil Prices Jump Most on Record After Saudi Arabia Strike

  Bloomberg

Crude Oil Prices Face New Reality As 'Historic' Attack Shatters Huge Misconception

Crude oil prices soared following an attack on Saudi Arabia's output over the weekend, resulting in the largest disruption of oil supplies ever. Oil giants rallied, and shale stocks popped. It will reportedly take longer for Saudi Aramco to restore production at its Abqaiq processing plant following a drone attack over the weekend.

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  Does the World Have Enough Oil to Cope With Saudi Attacks?

  Bloomberg
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  Iranian weapons used in oil facilities attack, Saudi Arabia claims

  The Telegraph

Gold Futures: Are More Big Gains Ahead?

Gold rallied Monday after a strike against Saudi Arabian oil facilities raised the possibility of retaliatory U.S. military action in the Middle East. Investors are seeking haven assets at the start of a week that will also see critical policy decisions from central banks including the Federal Reserve. Gold futures jumped as much as 1.3% as investors gauged the ramifications from the assault against the world's top oil exporter, and palladium hit a fresh record.

• Tulsi Gabbard says Trump is making the US 'Saudi Arabia's b----' with his response to the oil-field attacks

  Business Insider
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  European stock markets fall as oil producers surge and airlines tumble on Saudi attack

  MarketWatch

Bernstein’s Lim Likes China Cyclicals and Domestic Demand Stocks

Joanne Lim, algorithmic and portfolio trader at Bernstein, discusses her outlook for Chinese stocks. She speaks on “Bloomberg Markets: China Open.

Uber, Lyft can reach profitability: HSBC

Shares of Uber (UBER) and Lyft (LYFT) started the week in the green after a bullish call from HSBC. “We believe both Lyft and Uber will have to address inefficient cost structures and focus on profitable growth. Higher prices, lower subsidies and slower growth in bookings will likely be the new normal, but these changes should help reduce losses over the next several years,” wrote HSBC analyst Masha Kahn.

• Lyft, Uber Jump Midday on HSBC Upgrade

  Investing.com
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  Uber and Lyft Get Upgrades as HSBC Sees 30%+ Upside

  Market Realist

Saudi Aramco attacks: What we know so far

Attacks on two sites at the heart of Saudi Arabia's oil industry shut down more than 5% of global supply, sent oil prices as much as 20% higher and prompted the United States to blame Iran despite Tehran's denials. Yemen's Iran-aligned Houthi group, which is battling a Saudi-led coalition in Yemen, claimed responsibility for the attacks on Saturday on sites run by state-owned Saudi Aramco. U.S. Secretary of State Mike Pompeo ruled out Yemeni involvement and accused Iran of leading the attacks.

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  Saudi attacks threaten U.S. gasoline price hikes, particularly in California

  Reuters
• 
  Comment: Iran's attack on Saudi Arabia shows the oil price is too low to reflect the Middle East reality

  Evening Standard

I inherited money. Should I invest it all at once? Or space it out?

Historically, about 70% of the time, just investing a lump sum at one time yielded a better result than dollar-cost averaging over a 12-month period. For DCA to pay off, the market must decline, by enough and for long enough, to get a lower average per share price than a lump sum initial purchase would produce. The longer the time frame, the better the odds the market will not do this and DCA will produce an inferior result.

I’m engaged to a ‘money monster’ who racks up parking tickets and credit-card debt

After getting engaged I found out about her debt, bad FICO score excess parking tickets, etc. I educated and worked with her, and she eventually climbed out of it. Life is good, except she has new debt.

• 
  We Think Immo-Zenobe Gramme (EBR:ZEN) Is Taking Some Risk With Its Debt

  Simply Wall St.
• 
  Here's Why SEMAFO (TSE:SMF) Can Manage Its Debt Responsibly

  Simply Wall St.

Millennials Are Making A Fortune On These Top Stocks

Millennials are famous for their skinny jeans and avocado toast. But they've had pretty good luck picking some top stocks this year, too. Eight of the most widely held stocks by millennial-aged investors (born early 80s to early 2000s) are up 50% or more this year.

Here's what GM is offering UAW workers on strike

General Motors said its offer to United Auto Workers "builds a stronger future for all," but the roughly 50,000 members on strike want more after walking out on Sunday night. "We presented a strong offer that improves wages, benefits and grows U.S. jobs in substantive ways and it is disappointing that the UAW leadership has chosen to strike at midnight tonight," GM said in a statement Sunday. Talks between the union and GM were tense from the start, largely because GM plans to close four U.S. factories, including the one on the Detroit border with the enclave of Hamtramck, and Lordstown, Ohio.

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  United Auto Workers union says its 49K members at GM plants will go on strike

  WLS – Chicago
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  UAW workers head for picket lines in first national strike against GM since '07

  Reuters

Liz Weston: The 6 biggest retirement mistakes, and 1 defense

One of the biggest retirement mistakes you can make is not realizing what you don't know. I regularly hear from people in or near retirement who misunderstand how Social Security works, dramatically underestimate life expectancies or fail to plan for big expenses, such as long-term care or taxes. These aren't folks looking for advice.

Global FX Trading Surges to $6.6 Trillion-A-Day Market

Trading in the global foreign-exchange market spiked to a record level at $6.6 trillion, according to the Bank for International Settlements. Bloomberg's Anooja Debnath reports on "Balance of Power."

Wall Street's first cannabis analyst names her top US marijuana stocks

On Friday, Azer initiated coverage on five U.S. cannabis companies that she deemed noteworthy as she reiterated her call for total U.S. cannabis sales to hit $80 billion by 2030. Relative to their Canadian cannabis peers, Azer notes that the operating paradigm for U.S. multi-state cannabis companies is more nuanced given tax differences and restrictions in scientific research. However, “brand development in the U.S. is much easier, given regulatory nuances, which favors the U.S. operators who emphasize a traditional CPG model that relies more on high-margin finished goods, as opposed to specialty retail,” she wrote in a note published Friday.

• 
  What Every Investor Should Understand About Hexo Stock

  InvestorPlace
• 
  Plus Products Builds on Success, Readies NY Launch Event -- CFN Media

  Newsfile

Can the US economy handle $100 crude oil?

Oil prices spiked the most on record Monday after a weekend attack on Saudi Arabia's oil facilities wiped out more than 5% of the global oil supply. Crude oil prices initially surged as much as 18%, but retreated after President Trump said he authorized the use of oil from the United States' emergency oil supply, called the Strategic Petroleum Reserve, “if needed.” Brent crude (BZ=F) reached a session high of $71.95 a barrel at the opening, while U.S. crude futures (CL=F) surged to a session high of $63.34 a barrel. The price spikes have some folks asking, is $100 oil back on the table?

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  US STOCKS-Wall Street drops after Saudi attacks, energy stocks spike

  Reuters
• 
  Dollar falls, oil-exporter currencies rise after Saudi attacks; yen firms

  Reuters

Here’s what happened to the global economy the last eight times oil prices have doubled

The attacks on Saudi Arabia that have sent crude-oil prices surging are certainly the story for financial markets on Monday. Analysts at U.K. investment adviser AJ Bell calculated that the last eight times that the year-over-year price for oil was over 100%, there was either a global recession or economic slowdown six times. It's worth pointing out that even with the big 10% rally in crude-oil prices, Brent crude prices (UK:BRN00) , trading around $65 a barrel, are still below year-earlier levels.

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  Trump news – live: President accuses Iran of telling ‘very big lie’ after attack halves Saudi oil production and defends Kavanaugh amid calls for impeachment

  The Independent
• 
  Evidence points to Iran involvement in attack, says Saudi alliance, as oil prices soar

  Reuters

Millennials are resorting to this questionable tactic to buy their first homes

Millennial home buyers are going to some troubling lengths to foot the bill for their first homes, according to a new survey. Millennials are more likely than their older counterparts to fund their down payment and closing costs by dipping into retirement savings (13%, versus 8% of Generation Xers and 7% of baby boomers), saving money by moving in with family or friends (14%, versus 5% of Gen Xers and 2% of boomers) or selling personal items (12%, versus 5% of Gen Xers and 2% of boomers), a recent Bankrate survey of 2,582 U.S. adults found. They're trying to exhaust all their options, and they're certainly doing that at higher levels than the other generations.

Goldman Sachs reveals the stocks set to gain from surging oil prices

Oil prices are surging amid production disruptions in Saudi Arabia. That could affect a host of different stocks in the energy space, according to Goldman Sachs strategists. In a note to clients, Goldman says the companies with “the greatest 4Q19 potential operating cash flow percentage uplift” from rising oil prices include names like Hess (HES), Occidental Petroleum (OXY), Cimarex Energy (XEC) and Apache (APA), among others.

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  Oil prices jump as attack on Saudi plant jolts supply

  Associated Press
• 
  Crude prices surge after attack on Aramco facility

  Yahoo Finance Video

Repo Market Chaos Signals Fed May Be Losing Control of Rates

One of the key U.S. borrowing markets saw a massive surge Monday, a sign the Federal Reserve is having trouble controlling short-term interest rates. Amid the settlement of Treasury coupon auctions and the influx of quarterly corporate tax payments, the rate on overnight repurchase agreements soared by as much as 248 basis points to 4.75%, the highest level since December, according to ICAP pricing. It came back down to 2.50%, still up 23 basis points for the day.