econintersect.com
       
  

FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.



16Jul2015 Market Close: Markets Close Higher, Nasdaq Near Historic High And Oil Easing Down Through Support

Written by Gary

U.S. averages melted higher today as U.S. stocks climbed following a batch of upbeat earnings reports and as Greece's Parliament passed austerity measures needed to secure a fresh bailout.

Short-term indicators are leaning heavily towards 'bearish' conditions while the U.S. dollar flirts with busting through it resistance which is also bearish.

Todays S&P 500 Chart

The market rose broadly in afternoon trading after several big companies, including EBay and Citi, reported better-than-expected earnings.

The Nasdaq up 1.26 percent closing near its record high while WTI oil closed below its support.

The Market in Perspective

Here are the headlines moving the markets.

Wall St. ends up, Nasdaq sets new record high

NEW YORK (Reuters) - Wall Street ended stronger on Thursday, with the Nasdaq up over 1 percent at a record high after eBay and Netflix reported strong quarterly results.

Citi May Finally Slip Its Cuffs

Citigroup's second-quarter results add credibility to the idea that its shares could trade above tangible book value in the not-so-distant future.

Early read of banks' living wills shows progress: Fed's Yellen

WASHINGTON (Reuters) - Federal Reserve Chair Janet Yellen said on Thursday that a preliminary read of the living wills that large U.S. banks submitted this month showed progress.

Europe moves to restore funding to Greece after bailout vote

ATHENS (Reuters) - Europe moved to re-open funding to Greece's stricken economy on Thursday after the parliament in Athens approved a new bailout program in a fractious vote that left the government without a majority.

Goldman profit hit by big legal provision, weak bond trading

(Reuters) - Goldman Sachs Group Inc reported its smallest quarterly profit in nearly four years on Thursday as it set aside more than $1 billion to cover potential mortgage settlements, and nervous investors pulled back from bond trading.

Why A Third Greek Bailout Is A Bad Idea

Submitted by Pieter Cleppe via VocalInternational.com,

Last Sunday, Eurozone countries submitted yet another ultimatum to Greece: implement a whole round of reforms, from eliminating early retirement over scrapping exemptions from sales tax to opening shops on Sunday, and we'll start negotiations on providing a new bailout of possibly €86bn from the European Stability Mechanism (ESM), the Eurozone's bailout scheme, which will carry yet another series of strings attached. Here are four reasons why this whole thing is just a bad idea.


  1. The previous two bailouts have failed. Why try more of the same?

Today, Greek debt to GDP has reached 180%, an all time high. It should come as no surprised that an overindebted country's economy will shrink when it is being burdened with even more debt. This happened from 2010 on, when the country received "emergency loans" amounting to an estimated 240 billion euro, both from Eurozone countries and the IMF. At the instigation of former French IMF chief Dominique Strauss-Kahn, the IMF violated its own principles by not allowing Greece to default on major international banks before granting it a loan. It now is facing heavy losses, after Greece has already defaulted twice on an IMF payment now or is "in arrears", in IMF-lingo. Also the "no-bailout rule" in the EU Treaty was violated.

It's true that this therefore was a bailout of major international banks who had been lending to Greece, as we have

Plenty of Open Road for J.B. Hunt

Ahead of the Tape: Intermodal traffic growth should help J.B. Hunt continue its strong run.

Jobs and Home-Building Reports Show Momentum in Economy

The number of Americans filing new applications for unemployment benefits fell last week, and confidence remains high among home builders.

Benefits, and Some Resistance, as New York Cracks Down on Nail Salon Abuses

Lunch breaks, higher pay and protective equipment are some of the improvements manicurists have seen two months after an investigation by The New York Times.

Saving Greece's Banks Could Mean a European Takeover

European bailout funds should be used to directly recapitalize Greece's financial system. That is bound to mean more controversy.

Summary of Economic Releases this Week

Real Time Economic Calendar provided by Investing.com.

Earnings Summary for Today

Earnings Calendar provided by Investing.com.

leading Stock Positions

Leading Stock Quotes powered by Investing.com

Current Commodity Prices


Commodities are powered by Investing.com

Current Currency Crosses

The Forex Quotes are powered by Investing.com.



To contact me with questions, comments or constructive criticism is always encouraged and appreciated:

gary@econintersect.com

Click here for Historical Releases Listing










Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, using Livefyre just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.



You can also comment using Facebook directly using he comment block below.





Econintersect Live Market

search_box

Print this page or create a PDF file of this page
Print Friendly and PDF


The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.


Take a look at what is going on inside of Econintersect.com
Main Home
Analysis Blog
The Destruction of the Existing Workforce
Finance and Growth: The Direction of Causality
News Blog
Redneck Inventions
How Repealing Portions Of The Affordable Care Act Would Affect Health Insurance Coverage And Premiums
Grassroots Terrorism In 2017: A Small But Stubborn Threat
Earthquake Risk: Spotlight On Canada
Federal Income Taxes By Income Bracket
Infographic Of The Day: Guide To Caring For Your First Dog
Early Headlines: Migrants Incr. 41 Pct This Century, Women's March Largest Ever?, GOP ACA Disarray, Trump Hit With Ethics Complaint, Trump Back To '29?, May And Nieto To Visit Trump And More
New Seasonal Outlook Updates from NOAA and JAMSTEC Disagree Dramatically
Earnings And Economic Reports: Week Starting 23 January 2017
France And Germany Differ Starkly On Strong Leaders
Most Flags Combine Red, White And Blue
Electroconvulsive Therapy: A History Of Controversy, But Also Of Help
Super Bowl Ad Prices Doubled In A Decade
Investing Blog
The Week Ahead: Political Uncertainty And Market Volatility
Investors: How Not To Lose Everything And Die Broke
Opinion Blog
Retailing In America: Bricks And Torture
Economics, Society, And The Environment: What's Wrong With This Picture?
Precious Metals Blog
Four Catalysts Drive Gold And Silver For 2017
Live Markets
20Jan2017 Market Close: U.S. Stocks Were Up But Off Their Highs Of The Session, Crude Prices Continue To Climb, Next Week May Be Volatile
Amazon Books & More






.... and keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government































 navigate econintersect.com

Blogs

Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day
Weather

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2017 Econintersect LLC - all rights reserved