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
Big Mess in Italy
Proud to Be a Nihilist: Bill Mitchell on Econometrics and Numerical Prediction
News Blog
What Did The EU Ever Do For Europeans?
The 10 Most Stolen Cars In America
Improvements In US Air Pollution
Has The Fed Been Effective In Stimulating Consumption?
Major League Soccer's Best-Paid Players
What We Read Today 02 December 2016
Why Your Phone Battery Gets Worse With Time
25 November 2016: ECRI's WLI Growth Index Improves
November 2016 BLS Jobs Growth Continues To Be OK, Just Not Great
Rail Week Ending 26 November 2016: Another Positive Week
It Will Take More Than A Wall To Solve Border Crime
Infographic Of The Day: How The Power Grid Actually Works
Early Headlines: Asia Stocks Down, Oil Eases, More Trump Noms, May Rebuked At Polls, Italy's 5 Star Movmt, Assad's Treachery, India's Currency Mess, Canada's Housing Bubble Popping? And More
Investing Blog
Investing.com Weekly Wrap-Up 02 December 2016
Anticipating The Trend Change Makes For The Lowest Risk
Opinion Blog
Modern Slavery
Please, Donald Trump, Don't Send Climate Science Back To The Pre-Satellite Era
Precious Metals Blog
Silver Prices Rebounded Today: Where They Are Headed
Live Markets
02Dec2016 Market Close: WTI Crude Climbed Back Up To Previous 51 Handle, US Dollar Index Trading At The100 Level, Oil Rig Count At 10-Month High
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



Crowdfunding ....






























 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 - 2016 Econintersect LLC - all rights reserved