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04Dec2015 Market Update: US Markets Rise Two Percentage Points, EU Markets Trim Losses, Oil Falls After OPEC Fails To Cut Production

Written by Gary

Small caps up over two percentage points, DOW up 360 and WTI fell to 39.62 after OPEC failed to agree an oil production ceiling and they will continue to pump.


Here is the current market situation from CNN Money

North and South American markets are mixed today. The S&P 500 is up 1.88% while the IPC gains 0.06%. The Bovespa is off 2.68%.

OPEC's move could either be considered 'stupid' following oil's price plunge, or the 'right call' to defend market share against outside producers, but prices are doomed to fall either way. Full Story

The euro edged lower Friday after European Central Bank President Mario Draghi said there's "no doubt" the ECB would expand its stimulus regimen if needed. The euro tumbled to $1.0838 after the remarks from $1.0890 shortly beforehand. The remarks were made during a... Full Story

Traders Corner - Health of the Market

Index Description Current Value
Investors.com Members Sentiment: % Bullish (the balance is Bearish) 60%
CNN's Fear & Greed Index Above 50 = greed, below 50 = fear 53%
Investors Intelligence sets the breath Above 50 bullish 48.1%
StockChart.com Overbought / Oversold Index ($NYMO) anything below -30 / -40 is a concern of going deeper. Oversold conditions on the NYSE McClellan Oscillator usually bounce back at anything over -50 and reverse after reaching +40 oversold.

-33.35

StockChart.com NYSE % of stocks above 200 DMA Index ($NYA200R) $NYA200R chart below is the percentage of stocks above the 200 DMA and is always a good statistic to follow. It can depict a trend of declining equities which is always troubling, especially when it drops below 60% - 55%. Dropping below 40%-35% signals serious continuing weakness and falling averages. 32.09%
StockChart.com NYSE Bullish Percent Index ($BPNYA) Next stop down is ~57, then ~44, below that is where we will most likely see the markets crash. 53.41%
StockChart.com S&P 500 Bullish Percent Index ($BPSPX) In support zone and rising. ~62, ~57, ~45 at which the markets are in a full-blown correction. 66.00%
StockChart.com 10 Year Treasury Note Yield Index ($TNX) ten year note index value 22.69
StockChart.com Consumer Discretionary ETF (XLY) As long as the consumer discretionary holds above [66.88], all things being equal, it is a good sign for stocks and the U.S. economy 80.95
StockChart.com NYSE Composite (Liquidity) Index ($NYA) Markets move inverse to institutional selling and this NYA Index is followed by Institutional Investors 10,359

What Is Moving the Markets

Here are the headlines moving the markets.

OPEC fails to set production limits

VIENNA (Reuters) - OPEC members failed to agree an oil production ceiling on Friday at a meeting that ended in acrimony, after Iran said it would not consider any production curbs until it restores output scaled back for years under Western sanctions.

Sturdy U.S. employment report a green light for December rate hike

WASHINGTON (Reuters) - U.S. employment increased strongly in November in a show of the economy's resilience, which most likely paves the way for the Federal Reserve to raise interest rates this month for the first time in nearly a decade.

Chipotle E. coli outbreak broadens to 9 states, shares drop

LOS ANGELES (Reuters) - The E. coli outbreak linked to Chipotle Mexican Grill Inc has expanded to three more states, bringing the total to nine, and 47 of the 52 people affected say they ate at the popular burrito chain before falling ill.

Barclays to cut more investment banking jobs: source

(Reuters) - Barclays Plc plans to cut more jobs in its investment banking unit, a source familiar with the matter said, as the British bank steps up efforts to cut costs and raise profitability.

Dov Charney says exploring plans to revive American Apparel

(Reuters) - American Apparel Inc founder and former Chief Executive Dov Charney said he was exploring plans with potential and existing investors and industry executives to revive the bankrupt company.

Fed's Yellen faces battle in 2016 after getting all clear for Dec hike

WASHINGTON (Reuters) - Federal Reserve Chair Janet Yellen has the clear signs she wanted of labor market healing to push ahead with the first U.S. rate rise in a decade in December, but may have a tougher time selling further hikes to a skeptical board.

Exclusive: Hawkins and Sawiris forge investment partnership, with Adidas in sights

LONDON/BERLIN (Reuters) - Egyptian tycoon Nassef Sawiris has formed a partnership with U.S. investor Mason Hawkins and his colleagues at Southeastern Asset Management to drive change at companies they invest in - and they have sportswear firm Adidas in their sights.

Samsung to finally pay Apple $548 million in patent dispute

NEW YORK (Reuters) - Samsung fought until the bitter end to avoid paying Apple, but the company now says it will finally hand over the more than $548 million it owes for infringing the patents and designs of its biggest smartphone rival.

Pepperidge Farm sues Trader Joe's over Milano cookie

(Reuters) - A Trader Joe's cookie has left a bad taste in Pepperidge Farm's mouth.

11 "Alarm Bells" That Show The Global Economic Crisis Is Getting Deeper

Submitted by Michael Snyder via The Economic Collapse blog,

Economic activity is slowing down all over the planet, and a whole host of signs are indicating that we are essentially exactly where we were just prior to the great stock market crash of 2008. Yesterday, I explained that the economies of Japan, Brazil, Canada and Russia are all in recession. Today, I am mainly going to focus on the United States. We are seeing so many things happen right now that we have not seen since 2008 and 2009.

In so many ways, it is almost as if we are watching an eerie replay of what happened the last time around, and yet most of the "experts" still appear to be oblivious to what is going on. If you were to make up a checklist of all of the things that you would expect to see just before a major stock market crash, virtually all of them are happening right now. The following are 11 critical indicators that are absolutely screaming that the global economic crisis is getting deeper...

#1 On Tuesday, the price of oil closed below 40 dollars a barrel. Back in 2008, the price of oil crashed below 40 dollars a barrel just before the stock market collapsed, and now it has happened again.

Money Is Becoming Unmanageable

Submitted by John Rubino via DollarCollapse.com,

Some of the money managers who made names (and billions of dollars) for themselves in the past decade are suddenly failing:

Hedge Funds Brace for Redemptions

(Bloomberg) - When BlueCrest Capital Management told investors Tuesday it would no longer oversee money for outsiders, one thing founder Michael Platt didn't mention was that clients had already pulled billions of dollars this year.

Platt, who cited client demands and pressure on fees as a reason for his decision, isn't alone in feeling the heat from investors. Firms including Och-Ziff Capital Management Group LLC and Mason Capital Management have seen cash flee this year, and others such as Fortress Investment Group LLC's macro funds business shut down after redemptions and losses.

Hedge fund investors are losing patience even with marquee firms as many of them struggle this year, especially those that offer macro strategies or stock funds heavily weighted to rising shares. Some managers have lost money for two years running, while others such as David Einhorn's Greenlight Capital are suffering declines that rival their worst year. After the weakest third-quarter inflows in six years, the industry could see outflows in the fourth quarter, said investors and bankers who watch the ebb and flow of hedge fund assets.

"The fourth quarter will be flat and possibly negative," said Peter Laurelli, head of research at Eves ...

U.S. Stocks Extend Gains

U.S. stocks extended gains Friday after a solid jobs report bolstered the case for the U.S. Federal Reserve to raise interest rates later this month.

Nice Jobs Report. But What About the Economy Ms. Yellen?

Beyond setting the stage for a Federal Reserve rate increase later this year, the strong jobs market sets the tone for the economy gaining further ground next year.

Oil Holds Losses as OPEC Opts to Maintain Production Levels

Oil prices dropped Friday after the Organization of the Petroleum Exporting Countries decided to maintain current production levels even as crude markets remain mired in a supply glut.

27 November 2015: ECRI's WLI Growth Index Moderate Improvement But Remains In Contraction

ECRI's WLI Growth Index which forecasts economic growth six months forward - improved but remains in negative territory. This index had spent 28 weeks in negative territory, then 15 weeks in positive territory - and now is in its 16th week in negative territory. Today, ECRI released its inflation guage and is discussed below.

Commodities Corner: OPEC squeezing shale producers, but also feels pain of oil rout

OPEC's move could either be considered 'stupid' following oil's price plunge, or the 'right call' to defend market share against outside producers, but prices are doomed to fall either way.

Slide Show: 10 jobs robots already do better than you

Outsourcing these tasks to robots may free up humans for more rewarding work

Slide Show: 5 best books about money for everyone on your Christmas list

These personal finance books from 2015 can help get you through 2016.

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

gary@econintersect.com

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