Global jitters regarding Russian jet being shot down, the oil glut, weak 3rd quarter financial's and the Conference Board Consumer Confidence Index declining have struck a nerve in investors. Oil has only risen fractionally and the US dollar remains stable and trading sideways. We expect the Turkey shooting incident to go away, but weak markets will remain.
Here is the current market situation from CNN Money
North and South American markets are lower today with shares in Mexico off the most. The IPC is down 0.36% while Brazil's Bovespa is off 0.26% and U.S.'s S&P 500 is lower by 0.12%.
$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.
ZURICH (Reuters) - Swatch Group Chief Executive Nick Hayek has signed a contract with credit card company Visa Inc. in connection with the Swiss firm's new watch that enables wearers to make payments, a newspaper reported on Tuesday.
WASHINGTON (Reuters) - The U.S. economy grew at a healthier clip in the third quarter than initially thought, but strong inventory accumulation by businesses could temper expectations of an acceleration in growth in the final three months of the year.
BERLIN/LONDON (Reuters) - Renault's flagship Espace minivan released toxic diesel emissions 25 times legal limits in a Swiss study, despite complying with EU tests carried out at unrealistically low engine temperatures, a German environmental group said on Tuesday.
NEW YORK (Reuters) - Daily fantasy sports company DraftKings said on Tuesday it hired regulatory risk and compliance firm Exiger to conduct a review of its financial, operational, compliance and risk controls, as the company and its top competitor, FanDuel, have come under fire from state and federal regulators.
Despite Ackman's triple-down, Valeant has given up all the after-hours' gains and is rapidly losing last week's "buying spree" dead-cat-bounce rally as Pershing's newly synthetic position in the troubled stock moves deeper in the red...
As we noted previously, Pershing's position 'proxies' 34.12 million shares at an average cost of $113.76...
Although his exposure is dramatically non-linear should things not work out (and note he remains even more drastically underwater still even on this newly acquired position).
J.P. Morgan plans to disable customersâ€™ accessÂ to their bank-account information through software designed to help manage their personal finances unless the customers take steps to confirm their identity with the bank.
The Conference Board Consumer Confidence Index declined to 90.4 in November from the September final reading of 99.1, an upward revision of September's initial 97.6. The market expected (from Bloomberg) this index to come in between 100.0 to 106.0 (consensus 102.5).
Global stocks sold off Tuesday as officials confirmed that Turkish forces had indeed shot down a Russian jet that Turkish officials said had intruded in the countryâ€™s airspace, but the overall market reaction remains muted.
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