Investment bank Morgan Stanley is buying digital stock brokerage E*Trade for $13 billion. According to the Wall Street Journal, the consolidation will give Morgan Stanley an inroad with E*Trade’s 5.2 million retail investors in what will be Wall Street’s largest deal since the 2008 financial crisis. The bank is targeting this market, though Morgan Stanley’s
Weekly DOE inventory data.  Crude oil was trading at $54.30 right before the release The crude oil build his less than expectations at 0.415M vs 3.2M estimate.  Gasoline -1.971M vs +0.20M estimate distillates -0.635M vs estimate -1.6M  Cushing OK -0.133M vs 1.668M last week US refinery utilization 1.4% vs -0.65 estimate.  Last week +0.60% Crude oil implied demand 19488 vs 18912 last week gasoline
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Gold up $6.50 today All roads lead back go gold. We have almost institutionalized the idea of money printing and fiscal stimulus globally. The next downturn is going to feature an unfathomable amount of experimentation and competitive FX devaluation. It won’t work because of demographic headwinds but they will keep throwing money at it anyway.
The U.S. Securities and Exchange Commission (SEC) has settled securities law violation charges with Enigma MPC, a blockchain startup which raised $45 million in a 2017 token sale. The regulator announced Wednesday that under the settlement, Enigma will refund “harmed investors” using a claims process, register its tokens as securities with the SEC, file reports
Alex Tapscott is a venture capital investor, co-author (with Don Tapscott) of Blockchain Revolution: How the Technology Behind Bitcoin and Other Cryptocurrencies is Changing the World and co-founder of the Blockchain Research Institute, in Toronto. The following excerpt, written by Alex Tapscott, is from his new book Financial Services Revolution, available in all good stores now. Facebook’s foray into