Puerto Rico’s governor, saying he needs to pull the island out of a “death spiral,” has concluded that the commonwealth cannot pay its roughly $72 billion in debts, an admission that will probably have wide-reaching financial repercussions.And from the WSJ: Greece Orders Banks Closed, Imposes Capital Controls to Stem Deposit Flight
Greece shut down its banking system, ordering lenders to stay closed for six days starting Monday, and its central bank moved to impose controls to prevent money from flooding out of the country.I hope Greece is ready with the Drachma (It seemed there was no way out four months ago).
Monday:
• At 10:00 AM ET, Pending Home Sales Index for May. The consensus is for a 0.6% increase in the index.
• At 10:30 AM, Dallas Fed Manufacturing Survey for June.
Weekend:
• Schedule for Week of June 28, 2015
• June 2015: Unofficial Problem Bank list declines to 309 Institutions, Q2 2015 Transition Matrix
From CNBC: Pre-Market Data and Bloomberg futures: currently S&P futures are down 29 and DOW futures are down 217 (fair value).
Oil prices were down over the last week with WTI futures at $58.80 per barrel and Brent at $62.55 per barrel. A year ago, WTI was at $106, and Brent was at $112 - so prices are down 40%+ year-over-year.
Below is a graph from Gasbuddy.com for nationwide gasoline prices. Nationally prices are at $2.78 per gallon (down about $0.90 per gallon from a year ago).
If you click on "show crude oil prices", the graph displays oil prices for WTI, not Brent; gasoline prices in most of the U.S. are impacted more by Brent prices.
| Orange County Historical Gas Price Charts Provided by GasBuddy.com |
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