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01Feb2016 Market Close: Markets Turn Down Fractionally After Poking Into The Green, Crude Down Marginally, China's Financial Woes Concern Investors

Written by Gary

US markets closed mixed in a surprising move upwards believed to be HFT actions and helped by strong gains in Facebook and Alphabet. The large caps closed in the red fractionally and the small caps closed up in the plus 0.15%. The bad news is that the 'U.S. vulnerable to global slowdown, volatility' says Fed's Fischer.

Todays S&P 500 Chart

The Market in Perspective

Here are the headlines moving the markets.

U.S. factories show signs of stabilization; consumers hibernate

WASHINGTON (Reuters) - U.S. manufacturing activity contracted in January for a fourth straight month as factories grappled with a strong dollar and lower oil prices forced energy firms to further cut spending, but the pace of the decline appeared to be slowing.

Fox to offer employees buyouts to save $250 million in costs

(Reuters) - Twenty-First Century Fox said it would offer some of its employees voluntary exit options with "generous" benefit packages, with the aim of reducing costs by about $250 million.

Wall Street edges higher in late trading

(Reuters) - U.S. stocks edged higher in late Monday trading, reversing earlier losses, helped by strong gains in Facebook and Alphabet .

Volkswagen faces Tuesday U.S. deadline for SUV emission repair plan

WASHINGTON (Reuters) - Volkswagen AG faces a Feb. 2 deadline to submit a repair plan for 80,000 diesel SUVs and larger cars that emit excess pollution, even as it considers buying back some vehicles and a prior fix plan for smaller vehicles was rejected.

U.S. vulnerable to global slowdown, volatility: Fed's Fischer

NEW YORK (Reuters) - The U.S. economy could suffer, with inflation remaining too low, if recent volatility in financial markets persists and signals a slowdown in the global economy, the Federal Reserve's second-in-command said on Monday.

Obama likely to discuss TPP, Puerto Rico with Republican leaders: White House

WASHINGTON (Reuters) - President Barack Obama is likely to discuss a range of issues from international trade to Puerto Rico's fiscal crisis when he meets with House Speaker Paul Ryan and Senate Majority Leader Mitch McConnell on Tuesday, White House spokesman Josh Earnest said.

Abbott Labs to buy diagnostics company Alere for $5.8 billion

(Reuters) - Abbott Laboratories said it would buy Alere Inc for $5.8 billion to become a leader in point-of-care testing, a fast-growing market as physicians increasingly adopt rapid tests that speed up treatment.

Yahoo to cut 15 percent jobs, close several units: WSJ

(Reuters) - Yahoo Inc Chief Executive Marissa Mayer is set to reveal cost-cutting plans that include slashing 15 percent of its workforce, or roughly 1,600 jobs, and closing several business units, the Wall Street Journal reported on Monday.

Banks eased loan standards for U.S. households in fourth quarter: Fed survey

WASHINGTON (Reuters) - Banks lowered lending standards for U.S. households in the fourth quarter but tightened them for commercial and industrial loans, according to a survey of loan officers released on Monday by the Federal Reserve.

U.S. Stocks Turn Higher

U.S. stocks turned higher in late-afternoon trade Monday, brushing off a tumble in oil prices and fresh signs of economic weakness in China.

Hudson Executive, Other Investors Call for CIT Group to Break Up

A new activist hedge fund started by two former J.P. Morgan deal makers has taken a stake in CIT Group and wants the lender to break up.

IPO Market Comes to a Standstill

A frigid January for initial public offerings "there were no U.S. IPOs for the month "is pointing to a hard winter for fledgling biotech firms and other private companies.

What We Read Today 01 February 2016

Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary "reading list" which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for "reading list" items are gratefully reviewed, although sometimes space limits the number included.

This feature is published every day late afternoon New York time. For early morning review of headlines see "The Early Bird" published every day in the early am at GEI News (membership not required for access to "The Early Bird".).

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The Margin: Amazon looks to American Girl to bolster original kids programming

Amazon signed a multiyear, multimillion-dollar deal with American Girl to produce four live-action specials as the company looks to improve its slate of original kids' content.

This venture fund can help you get to Sesame Street

Sesame Workshop has joined with a venture capital fund to invest in child development startups.

Market Snapshot: Stocks turn higher in late afternoon trade

U.S. stocks erase steep losses to trade positive ahead of the closing bell, as dovish comments by a U.S. central banker helped boost investor sentiment.

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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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