From Reuters today:
A judge on Monday rejected a proposed $285 million settlement between Citigroup
Inc and the top market regulator over the sale of toxic mortgage debt and
ordered a trial.
In a written opinion, Manhattan federal court judge Jed Rakoff said the proposed
settlement was "neither reasonable, nor fair, nor adequate, nor in the public
For their full article, here is the link:
Price on their stock, C, is currently trading below near-term major resistance, as shown on the 4-hour chart below...the last candle, which just closed, has formed a shooting star...will see where price goes from here.
Below is a 4-hour chart of the Financials, ETF, XLF. The last candle formed an outside bearish engulfing candle after hitting major near-term resistance...will watch 12.20 and 12.00 in the short term to see which way price breaks out.
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UPCOMING (MAJOR) U.S. ECONOMIC VENTS...
* Wed. May 22 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Thurs. May 23 @ 3:30 am ET ~ German Flash Manufacturing PMI (watch for a hold below 50)...N.B. Jan. 24 PMI came in at 49.9, Feb. 21 PMI came in at 47.6, Mar. 22 came in at 44.7 & Apr. 18 came in at 44.5 (contraction mode deepens!)
* Wed. May 29 @ 2:00 pm ET ~ Beige Book Report
* Fri. June 7 @ 8:30 am ET ~ Employment Data
* Wed. June 12 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Fri. June 14 @ 8:30 am ET ~ Core Retail Sales & Retail Sales
* Wed. June 19 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET ~ Fed Chair Press Conference
*** Click here for link to Economic Calendars for all upcoming events
NOTABLE POSTS WITH IMPORTANT UPDATES...