Monthly Archives: July 2015

Iran Reaches Nuclear Deal

On Tuesday, Iran reached a nuclear agreement with the U.S. and five other world powers after years of negotiations and political uncertainty. The deal is designed to prevent Iran from producing nuclear weapons. In exchange, the world powers will provide relief of economic sanctions to the country. Once these sanctions are lifted, it is predicted that Iran will quickly begin exporting more oil, something that could drive down the price of oil further. The lift on sanctions are predicted to provide an additional 7-8% in growth for the country, something that shows the true impact the sanctions had on the country in the first place. Continue reading

NYSE Halts Trading on Wednesday

On Wednesday, the NYSE halted trading on all securities for 3.5 hours. Trading was back on by 3:05 ET and continued without issue through the 4:00 PM ET close. The NYSE is claiming that it was due to a computer glitch that would have caused symbols to trade differently (i.e. you put in an order for ABC and it purchases XYZ). While the timing seemed a bit suspicious, as United Airlines halted all flights around the country due to a computer glitch earlier that morning, nothing at this time seems to suggest this was anything but a computer glitch. Continue reading

Greece Crisis Escalates

Greece missed a debt payment to the IMF on Tuesday, which heightened fears that Greece would be forced to exit the euro. The uncertainty surrounding Greece’s future created volatility throughout global markets on Monday and caused U.S. stocks to suffer the worst drop of 2015. Greece only accounts for 0.3% of the global economy, but the uncertainty of Greece’s future caused a global market sell-off as the Dow Jones shed 350 points, nearly a 2% drop, the S&P 500 fell over 2%, and the tech-heavy Nasdaq lost 2.4%. Financial markets bounced back from these declines over the next few trading days despite no new resolution in Greece. Continue reading