$NYA200R chart below is the percentage of stocks above the 200 DMA and is always a good statistic to follow. It can depict a trend of declining equities which is always troubling, especially when it drops below 60% - 55%. Dropping below 40%-35% signals serious continuing weakness and falling averages.
ATHENS (Reuters) - A warning by Greece's central bank that the country risked being driven from the euro zone and, ultimately, the European Union failed to break a deadlock with creditors before a potentially decisive meeting of European finance ministers.
SINDELFINGEN, Germany (Reuters) - Having standardized the layout of its factories and connected them to a shared computer network, Daimler is now crunching data from them to identify the most efficient way of making a car, its head of production told Reuters.
(Reuters) - Wal-Mart Stores Inc has built a network of 78 subsidiaries and branches in 15 offshore tax havens to minimize taxes on its operations outside the United States, said a report by tax reform advocacy group Americans for Tax Fairness released on Wednesday.
The algo reaction to "Greece is willing to make concessions," was a immediate vertical ramp higher... which was quickly obliterated when the humans read further that Greece "will not cut its existing pensions," thus meaning no deal is close as the EU demands just that. EURUSD has been weaker all morning...
The Reuters headline that caused it...
Greece is willing to make concessions to strike a deal with creditors as long as it is "economically viable", but will not cut its existing pensions, a top Greek negotiator told Reuters on Wednesday.
The reaction - algo idiocy in DAX, not much in Euro...
and close up on DAX Futures... as the headline hit
The Office Comptroller of the Currency imposed restrictions on the mortgage-servicing operations of six banks, including the national bank arms of J.P. Morgan Chase & Co. and Wells Fargo & Co., for failing to fully comply with enforcement orders related to home foreclosure abuses.
Following last week's major inventory draw (and last night's less than expected API-reported inventory draw), DOE reports a 2.68 million barrel draw (slightly less of a draw than expectations of 2.79 million barrels). End products saw inventories rise considerably more than expected (Gasoline +460k vs -800k exp) and Cushing saw a build (+112k vs -850k exp.). Oil prices dropped on the news despite a very modest drop in production (-0.2%) which was all Alaska (as the Lower 48 saw production rise).
While the overall inventory saw a draw, Cushing and Gasoline saw notable builds...
And production rose (in the Lower 48) once again...
IOSCO, the world's biggest committee of market regulators, admitted that an attempt to supervise large funds similarly to large banks is mistaken, since funds don't pose the same size of risk to financial systems.
Who said only corporate earnings are non-GAAP, i.e., excluding - and adding back - all the bad stuff and only focusing on the good? According to the following BMO "analysis" while market breadth has been tumbling in recent months, this indicator which many have focused on to show lack of participation in the most recent rangebound market is actually really great... if only one excludes all the stocks that are destroying the bullish narrative.
To wit, from BMO equity strategist Luigi Di Pede:
U.S. Equity Market Still in Good Shape
Despite a reduction in market breadth, in part due to weakness in energy and interest rate sensitive sectors, the U.S. equity markets remain very healthy (compared to prior peaks) as evidenced by strong sector trends and fund manager positioning.
Equity breadth, which can be characterized as the percent of stocks going up remains strong at 66%. Although the trend has weakened since 2013, equity breadth is still higher than in October 2007 or March 2013. Moreover, unlike prior peaks, the market is showing much broader leadership.
Looking under the hood, excluding Energy and rate sensitive sectors such as Telecom and Utilities, which have been bringing down the average, most sectors continue to show very strong breadth. In particular, Healthcare, Consumer Discretionary and Financial stocks continue to show very strong uptrends.
Coming soon: the double seasonally-adjusted S&P500, which is up every time the plain-vanilla unadjusted (if Fed-rig ...
WASHINGTON (Reuters) - A U.S. Senate panel will hold a June 23 hearing on the ongoing investigation into Takata Corp's recall of defective air bags, the Senate Commerce, Science, and Transportation Committee said in a statement on Wednesday.
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