Jack Sandner, longtime Chicago Mercantile Exchange chairman, dies at 79 after suffering a stroke
Sandner kept his hand in the CME for years after stepping down as chairman in 1997, serving as a board member and adviser. Most of CME Group’s floor trading pits were closed in 2015, as open outcry futures dwindled to a fraction of the company’s total futures volume. The CME Group was formed in 2007 when the Chicago Mercantile Exchange merged with its older rival, the Chicago Board of Trade.chicagotribune.com
Northern Lights again possible in parts of contiguous US
ORLANDO, Fla. – Seeing the Northern Lights, or Aurora Borealis is on the bucket list of many people. The northern lights are a result of these storms. Typically the northern lights hang out closer to the poles, way up north in Canada, Alaska and northern Europe, but during a strong event like this one, they can be seen further south. Northern Lights forecastThe further south you are, the lower in the sky the potential glow will be. The northern lights have been seen in Florida a few times, but it’s extremely rare and takes a large disruption of Earth’s magnetic field from an intense geomagnetic storm.
It's decision time for the US Federal Reserve
1914: The Federal Reserve Bank of the United States officially opens. The new central bank, and its 12 regional banks, was intended to serve as a formal "lender of last resort" to banks during panics when depositors try to withdraw theirWASHINGTON, D.C. - Just about everyone predicted the Federal Reserve would cut interest rates on Wednesday. Translation: Investors are split on whether the Fed will cut rates. Political concerns: President Donald Trump has put the central bank under immense pressure to cut rates. A crack in the financial marketsThe New York Federal Reserve is running a special operation aimed at reducing short-term interest rates and easing stress in financial markets.
Markets unsure if Fed will cut rates
WASHINGTON, D.C. - Just about everyone predicted the Federal Reserve would cut interest rates on Wednesday. According to the CME's FedWatch Tool, which measures what the markets are predicting the Fed will do next, the probability of a quarter percentage point rate cut is only 47%, down from 92% just a week ago. An even more dramatic half percentage point cut, which was forecast by some this summer, is no longer even considered an option. On Monday, oil prices skyrocketed after Saudi Arabian oil facilities were attacked, sparking worries about global oil supply. Higher oil prices can lead to inflation.