China Takes Another Step to Boost Economy and Stock Market

China has taken its 13th step to boost its economy and stock market. The People's Bank of China moved to ease stress further saying it will inject 140 billion yuan or 21 billion U.S. dollars into its financial system. The Shanghai Composite was extremely volatile and 3% gains and 3% losses. It ended the session lower by 1.3% All the volatility has lead U.S. stocks to possibly post the biggest yearly drop since 2008. Schlumberger (SLB) is buying Cameron Worth (CAM) for $14.8 billion dollars. The deal represents a 56% premium over Tuesday's close. Schlumberger is the world's number one oilfield services company. Transocean (RIG) is seeking to cancel its dividend payments for the 3rd and 4th quarter. It says its necessary as it deals with capital losses.