$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.
BRUSSELS (Reuters) - Greek Prime Minister Alexis Tsipras accused international creditors of "blackmail" on Friday after euro zone partners warned Athens it had 48 hours to accept a cash-for-reform deal or plunge toward default next week.
After 28 consecutive weeks rig counts declines in America - despite crude production levels hitting new cycle record highs - Baker Hughes reports Total Rig Count increased 2 to 859 this week. The oil rig count dropped 3 to 628. Crude's price reaction is negligible.
Total Rig Count rose for first time since Dec 5th...
But oil rigs decline contionued...
*U.S. OIL RIG COUNT -3 TO 628, BAKER HUGHES SAYS
*OIL RIGS IN WILLISTON BASIN FALL BY THREE TO 74: BAKER HUGHES
*OIL RIGS IN PERMIAN BASIN FALL BY TWO TO 230: BAKER HUGHES
*OIL RIGS IN TEXAS'S EAGLE FORD SHALE UNCHANGED AT 83
*OIL RIGS OUTSIDE MAJOR BASINS JUMP BY 10 TO 141: BAKER HUGHES
The US Supreme Court upheld the Obama administration's interpretation of the Affordable Care Act (ACA). This resolves most of the uncertainty regarding the subsidies under the law, though a few less significant legal challenges continue to work their way through the system. Congress looks unlikely to make any significant changes to the ACA this year, though a few smaller changes, like repeal of the medical device tax, are possible.
While there was some uncertainty regarding the outcome of today's ruling, we do not expect it to lead to the same kind of rise in health employment that the resolution of uncertainty may have spurred in mid-2014. That said, continued strength in health employment and consumption seems likely.
The Supreme Court ruled yesterday (June 25) in favor of the Obama Administration's current implementation of the Affordable Care Act (ACA), denying claims from challengers that health insurance subsidies were improperly paid for enrollees in states that did not operate their own health insurance exchanges.
Q: What was the case about?
By way of background, the ACA (also known as "Obamacare") provides subsidized insurance coverage for low- and middle-income individuals through two main channels: an expansion of the existing Medicaid program to cover individuals with incomes up to about $16,000 and the establishment of a new system of "health exchanges" providing standardized insurance, which is subsidized for individuals with incomes up to about $47,000. To maximize coverage, the law requires insurers to provide coverage to anyone who applies for it, individuals face tax penalties for failure to purchase it, and employers face penalties for failing to provide it.
The case that the court ruled on today, King v. Burwell, hinged on the interpretation ...
NEW YORK (Reuters) - Brent futures were little changed on Friday while U.S. crude prices fell slightly as Greece's debt drama and Iran's bid to seal a nuclear deal by the month end led to uncertainties in oil markets.
CHICAGO (Reuters) - Pimco's chief executive officer said on Friday that improving flow trends showed the big bond firm is regaining client confidence after the departure of star manager Bill Gross last year led to billions of dollars of withdrawals.
Submitted by Erico Matias Tavares via Sinclar & Co (co-authored with DegreeDays.net),
A year ago we wrote about how electricity consumption could provide clues to the performance of the US economy, which generated a lot of interest and comments.
A relationship between the two variables makes sense, but needs to be framed in the proper context. Genuine economic (and population) growth should translate into more electricity consumption, as we have more activity and transactions taking place throughout the economy.
However, factors such as energy efficiency and the weather can muddle this relationship:
An increase in efficiency means that the same output can be obtained with less inputs. Therefore, a small-ish reduction in electricity consumption versus a prior period may not necessarily be indicative of a sluggish economy over that time. And we know that this efficiency has been on the rise in recent years (just look at the power rating of your new appliances).
Likewise, a warmer winter versus the prior year may also cause a drop in electricity consumption, simply due to home heaters not being used as hard, not necessarily because the economy is doing badly.
So can we adjust electricity consumption to take these factors into consideration and get a better measure of its relationship with economic growth?
We developed an indicator to do just that together with DegreeDays.net, an energy systems data company. We provide a brief technical explanation of our proposed methodology below (for a much better overview please visit this
The University of Michigan final Consumer Sentiment for June came in at 96.1, a small increase from the 94.6 June preliminary reading but still below the interim high of 98.1 in January. Investing.com had forecast 94.6 for the June final. The latest survey findings were a welcome improvement following last month's interim low.
China's Politburo official mouthpiece Xinhua summed up the bloodbath in China in one tweet overnight...
Again?Black Friday. China shares dive 7.4%?worst single day loss since June 10, 2008. pic.twitter.com/6Pyvns287s
— China Xinhua News (@XHNews) June 26, 2015
Which is odd, since just a month ago, another mouthpiece noted an "authoritative insider" pushing investors to save less and buy more stocks "as economic downside riosks were well managed." China Daily, a month ago, quoted an "Authoritative Insider" pushing the average joe Chinese citizen to save less and speculate more...
He stressed that investment has a vital effect on economic growth: "Seen from the stage China is at right now, whether it can transfer savings to effective investment will be the key to stable economic growth."
The insider also mentioned that on the one hand the Chinese people are having trouble getting sustainable property income with the high rate of household savings, and on the other hand the real economy and key construction projects lack fun ...
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