U.S. averages opened higher and the spent the morning session melting down, but still very much in the green. The DOW has remained in the tripe digits as the small caps are almost two percentage point higher after an unexpected rate cut in China amplified a rally driven by strong results from Microsoft, Alphabet and Amazon.
Here is the current market situation from CNN Money
North and South American markets are higher today with shares in U.S. leading the region. The S&P 500 is up 0.84% while Brazil's Bovespa is up 0.68% and Mexico's IPC is up 0.57%.
$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.
(Reuters) - Valeant Pharmaceuticals Inc shares rebounded on Friday from four days of steep losses over allegations it used specialty pharmacies to inflate revenue, which the company plans to refute in detail on Monday.
(Reuters) - United Airlines said on Friday it reached a tentative deal with the union representing its maintenance workers, paving the way for a wage hike and the first contract to cover technicians from both United and Continental since the airlines merged in 2010.
(Reuters) - Google parent Alphabet Inc , Microsoft Corp and Amazon.com Inc made headway in the latest quarter in the areas that will be their main engines of growth for years to come, driving up shares across the tech sector on Friday.
NEW YORK (Reuters) - The controversy surrounding Valeant Pharmaceuticals' strategy and its market slide this week are bad news for Wall Street investment banks that stand to lose one of their best clients.
(Reuters) - Kellogg Co , which makes Corn Flakes and Rice Krispies, is in late-stage talks to buy snack foods company Diamond Foods Inc for more than $1.5 billion, the New York Post reported on Friday, citing unnamed sources.
Much has been made about the impressive gains in efficiency and productivity in the shale patch, as new drilling techniques squeeze ever more oil and gas out of new wells. But the limits to such an approach are becoming increasingly visible. The U.S. shale revolution is running out of steam.
The collapse of oil prices has forced drillers to become more efficient, adding more wells per well pad, drilling longer laterals, adding more sand per frac job, etc. That allowed companies to continue to post gains in output despite using fewer and fewer rigs.
However, the efficiency gains may have been illusory, or at best, incremental progress instead of revolutionary change. Rather than huge innovations in drilling performance, companies were likely just trimming down on staff, squeezing suppliers, and drilling in the best spots - perhaps all sensible stuff for companies dealing with shrinking revenues, but nothing to suggest that drilling has leaped to a new level of efficiency. Reuters outlined this phenomenon in detail in a great October 21 article.
For evidence that the productivity gains have run their course, take a look at the latest Drilling Productivity Report from the EIA. Production gains from new rigs - which have increased steadily over the past three years - have run into a wall in the major U.S. shale basins. Drillers are starting to run out of ways to squeeze more oil out of wells from their rigs. Take a look at the below charts, which show drilling productivity flat lining in the Bakken, the Eagle Ford, an ...
Excerpted from Artemis Capital Management letter to investors,
Risk cannot be destroyed, it can only be shifted through time and redistributed in form.
Vibrant life and rebirth comes from the acceptance of change and death in many complex systems:
The forest service has long understood that controlled burns are a more effective tool for fighting forest fires than total suppression. The act of subduing forest fires results in a dangerous build up in dry foliage that counterintuitively causes larger and larger fires. Mother Nature will initiate controlled burns naturally via lightning strikes and this is essential to the rebirth of the forest. The trees of the great sequoia forests will not release seeds without first sensing heat from a wildfire.
The art of avalanche prevention in backcountry snow terrain is based on a similar philosophy. Rangers use controlled blasts to reduce snow pressure rather than risk massive uncontrollable slides.
Marriage therapists observe that couples that do not fight are at the greatest risk of a divorce. The couples that fight actively bring core issues to the forefront instead of suppressing their problems. Apathy is worse than anger.
Treatment of cancer requires extensive chemotherapy to kill the cancerous agents from the body and allow healthy cells to multiply.
Treatment of addiction requires brutal recognition of the reality of the problem, personal responsibility, and immediate withdrawal from the source despite painful short-term effects.
The act of pruning a garden requires forcefully removing sick leaves to promote ...
ECRI's WLI Growth Index which forecasts economic growth six months forward - declined and remains in negative territory. This index had spent 28 weeks in negative territory, then 15 weeks in positive territory - and now is in its tenth week in negative territory. Also discussed below is the coincident and lagging index which is in decline.
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