Chinese official quits after circuit-breaker failure: Reuters

The chairman of the China Securities Regulatory Commission, Xiao Gang, has offered to resign after his idea of introducing circuit breakers to calm the Chinese stock markets failed, according to Reuters. But the CSRC denied on Chinese microblogging website Weibo that Xiao had offered to quit, Reuters said. Citing a financial industry source, the news organization said the securities regulator handed in his resignation last week, just a few days after the circuit-breaker mechanism was suspended. The policy was implemented at the beginning of the year to stem big swings in the stock markets, but was criticized for fueling more volatility, rather than preventing.

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From:: Stock Market News

U.S. stock futures turn south as oil prices wobble

U.S. stock futures gave up a lead and turned lower on Monday in a shortened session of trading, as oil prices began to push deeper into negative territory. Up over 100 points earlier in Europe’s session, Dow Jones Industrial Average futures eased 20 points to 15,888, while S&P 500 futures slipped 5.5 points to 1,869.75. Nasdaq 100 futures fell 5.25 points, or 0.3%, to 4,136. U.S. stock and bond markets are closed Monday for the Martin Luther King Jr. holiday. Stock futures contracts will trade until 1 p.m. Eastern Time. Oil prices were under pressure on Monday as the market began bracing for an influx of Iranian oil after the removal of sanctions on the country. Oil prices fell sharply in Asia, then bounced around in Europe’s open. U.S. crude oil was last hovering at $30 a barrel, off about 31 cents, or 1%, while Brent crude traded around $28.69 a barrel, down 24 cents, or 0.8%.

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From:: Stock Market News

U.S. stock futures cling to positive ground as oil wobbles

U.S. stock futures rose on Monday in a shortened session of trading, with fortunes closely tied to oil prices. Up over 100 points at one stage, Dow Jones Industrial Average futures rose 30 points to 15,942, while S&P 500 futures gained 1.75 points to 1,876.75. Nasdaq 100 futures rose 9.75 points, or 0.2%, to 4,149.75. U.S. stock and bond markets are closed Monday for the Martin Luther King Jr. holiday. Stock futures contracts will trade until 1 p.m. Eastern Time. Oil prices were under pressure on Monday as the market began bracing for an influx of Iranian oil after the removal of sanctions on the country. Oil prices fell sharply in Asia, then bounced around in Europe’s open. U.S. crude oil was last hovering at $29 a barrel, off about 4 cents, while Brent crude traded around $28.86 a barrel, down 10 cents, or 0.3%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

U.S. stock futures up as losses for oil pare back

U.S. stock futures rose on Monday in a shortened session of trading, as oil prices pared back losses made in early European trading hours. Dow Jones Industrial Average futures rose 29 points to 15,940, while S&P 500 futures gained 1.5 points to 1,876.50. Nasdaq 100 futures rose 3.75 points to 4,143.75. U.S. stock and bond markets are closed Monday for the Martin Luther King Jr. holiday. Stock futures contracts will trade until 1 p.m. Eastern Time. Oil prices were under pressure on Monday as the market began bracing for an influx of Iran oil after the removal of sanctions on the country. Oil prices fell sharply in Asia, pared some losses, then sold into Europe’s open. U.S. crude oil was last hovering at $29 a barrel, off about 40 cents, or 1.36%, while Brent crude traded around $28.43 a barrel, down 50 cents, or 1.7%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

U.S. stock futures climb as losses for oil pare back

U.S. stock futures rose on Monday in a shortened session of trading on Monday, , as oil prices pared back losses made in early European trading hours. Dow Jones Industrial Average futures rose 92 points, or 0.6%, to 16,005, while S&P 500 futures gained 9.75 points, or 0.5%, to 1,884.50. Nasdaq 100 futures rose 22 points, or 0.5%, to 4,163. U.S. stock and bond markets are closed Monday for the Martin Luther King Jr. holiday. Stock futures contracts will trade until 1 p.m. Eastern Time. Oil prices were under pressure on Monday as the market began bracing for an influx of Iran oil after the removal of sanctions on the country. Oil prices fell sharply in Asia, pared some losses, then sold into Europe’s open. U.S. crude oil was last hovering at $29 a barrel, off about 40 cents, or 1.36%, while Brent crude traded around $28.43 a barrel, down 50 cents, or 1.7%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Monday Morning Cup of Coffee: Was TRID worth it to homebuyers?

By swheeler@housingwire.com All that for nothing? A story in the Boston Herald on Sunday examines whether homeowners are using the new Loan Estimate — mandated in the CFPB’s TILA-RESPA Integrated Disclosure rule beginning last October — to shop around for lenders with the best rate, fees, etc. The story interviewed several mortgage lenders and found no evidence of this kind of comparison shopping. …read more

From:: Real Estate Wire