The US stock markets have been experiencing a certain ruggedness in recent times owing to a multitude of reasons including a surge in Covid positive cases and more.

Title: Brooklyn Streets Meet Wall Street
Author: James Jimmy Richardson
Publisher: Createspace Independent Publishing Platform
Reviewed By: Arlena Dean
Rating: Four
Review:

"Brooklyn Streets Meet Wall Street

My Thoughts....

I found this read 'interesting, riveting, entertaining. thought provoking with plenty of drama' that will keep you turning the pages to see what will be coming next for Josh Robinson in this urban fiction read. It was a good read about this African American whose dream came true for him as he is given a chance to work with financial investments on 'Wall Street' and getting most of all what he wanted in life and that was wearing a suit. However, in doing so Josh will be presented with some 'mistakes, struggles and tough choices' before he is able to get to where he wants to be in life. This author does a good job in giving the reader a good description of how it was to grow up in Brooklyn, NY really poor having to struggle very hard making it, with crime being all around dealing with murder, drugs that seem to bring out a hard world of violence. How was Josh able to be away from all of the violence that was around him and have the life he really wanted? To find out the answers to that question and so much more you will have to pick up this novel to see how well this author brings it all out to the readers. The reader will be given a well developed, portrayed and with believable characters that will keep one entertained in this well written story of 'high finance and even a sweet romance.'

Wall Street trading in U.S. fuel credits hurting consumers: NYT

Wall Street banks, including JPMorgan , have engaged in speculative trading and stockpiled U.S. renewable fuel credits turning a federal environmental program into a profit stream, The New York Times reported on Sunday.

A JPMorgan trader pressed the bank to buy all the Renewable Identification Numbers (RINs) it could, The Times said citing an unnamed industry executive. Prices for the credits spiked by as much as 20-fold between January and mid-summer.

With the supply of available RINs growing tighter, JPMorgan offered to sell hundreds of millions fuel credits to refiners this year, The Times reported.

JPMorgan's role and that of other banks in the RINs market has hurt U.S. refineries that often acquire RINs to avoid stiff penalties from the U.S. Environmental Protection Agency (EPA), The Times reported, adding that the moves have likely contributed to higher gasoline prices at the pump.

U.S. refiners and gasoline importers must generate or buy RINs to comply with EPA rules requiring they blend growing quantities of ethanol into gasoline supplies. RINs prices spiked from 7 cents in January to a high of $1.43 this summer, before retreating to 60 cents, the newspaper said.

The price spike has saddled U.S. refineries with huge bills and refiners have passed along the higher costs to consumers, the report said.

Independent refiner Valero Corp estimated that its cost to acquire RINs would skyrocket to $800 million, The Times reported.

A spokesman for JP Morgan in an email to Reuters said, "The fact of the matter is, we simply do not trade RINs, nor do we carry an inventory other than a marginal amount for compliance purposes.

"From time to time, we offer to purchase RINs on behalf of clients who need to fulfill their EPA-mandated obligations, but our activity is so limited that the last time we assisted a client in the market was over a year ago," the spokesman said.