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.



08Feb2016 Market Close: Major Averages End Session Over One Percentage Point Down, Crude Steady, Gold Slips And US Dollar Falls Fractionally

Written by Gary

US markets rebounded in the last hour of trading wiping out half of the morning fall. It appears the BTFDers are convinced that tomorrow will be an up day - I agree.

Todays S&P 500 Chart

The Market in Perspective

Here are the headlines moving the markets.

Wall Street falls on economic worries; financials down

NEW YORK (Reuters) - U.S. stocks dropped on Monday as concern over global growth hit banks and other economically sensitive shares, but a late rally in energy shares left the market well off its lows of the day.

India introduces net neutrality rules barring Facebook's free Internet

NEW DELHI/MUMBAI (Reuters) - India introduced rules on Monday to prevent Internet service providers from having different pricing policies for accessing different parts of the Web, in a setback to Facebook Inc's plan to roll out a pared-back free Internet service to the masses.

Chesapeake moves to quash bankruptcy fears as shares plunge

(Reuters) - Chesapeake Energy, the No. 2 U.S. natural gas producer, said on Monday it had no plans to file for bankruptcy, after sources told Reuters the company had asked its longtime counsel to look at restructuring options.

GM suspends Egypt operations due to currency crisis: company source

CAIRO (Reuters) - General Motors temporarily suspended its operations in Egypt due to a currency crisis, a company source told Reuters on Monday.

Tech stocks extend losses, valuations dented

(Reuters) - Technology shares with lofty valuations, including those of midcap data analytics company Tableau Software Inc and Internet giant Facebook Inc, extended their losses on Monday following a gutting selloff in the previous session.

DoubleLine's Gundlach calls market trends 'relentless and powerful'

NEW YORK (Reuters) - Jeffrey Gundlach, the widely followed investor who runs DoubleLine Capital, repeated a December warning on Monday that the dramatic slowdown in global growth will trigger a collapse in some credit funds, saying that the high-yield "junk" bond market still has not hit bottom.

Verizon enlists AOL CEO to explore Yahoo deal: Bloomberg

(Reuters) - Verizon Communications Inc has given Tim Armstrong, chief executive officer of its AOL unit, a leading role in exploring a possible bid for Yahoo Inc's assets, Bloomberg reported, citing a person with knowledge of the situation.

LafargeHolcim receives revised divestment order from India

ZURICH (Reuters) - LafargeHolcim has received a revised order from the Competition Commission of India (CCI) to divest its interest in Lafarge India, including three cement plants and two grinding stations with total annual capacity of 11 million tons, it said.

Either Banks Are Cheap... Or The Market's Gonna Crash

Large cap financials have had an awful time in the last month and are 11.7% lower so far in 2016.

As ConvergEx's Nick Colas details, that's worse than pretty much anything else, including all other S&P 500 sectors, the Russell 2000 small cap index, and even the MSCI Emerging Markets Index.

This down and out sector is worth a look for three reasons. First, it seems clear now that the investment case for the Financials, based on a series of Fed rate increases and a steeper yield curve, was either wrong or early. Which is the same thing as wrong. Second, volatility in the group (both actual and implied) is now equal to the levels of August-September 2015. Third, even if the largest banks, brokers and regionals merely meet the lowest earnings expectations on the Street, they are still only trading for 10-12x this year's EPS and 9.5-11.0x next year.

One caveat, though, and it's a big one. If the stock prices for these largest financial institutions are right, then the broader market is clearly still overpriced. Something has to give.

Ask any veteran stock analyst what industry group draws the smartest but quirkiest colleagues, and you'll probably hear one sector more than any other: "Insurance". At my first job in a bulge bracket research department, the fellow who covered the space was fond of talking to himself at the oddest times and modulatin ...

"We Can Put Refugees On Buses": Leaked Memo Shows Erdogan Blackmailed Europe For Billions

If there's anything we've learned over the past twelve months it's that Turkish President Recep Tayyip Erdogan is prepared to employ all manner of nefarious tactics in order to preserve his grip on power in Ankara.

Following unfavorable election results last June, Erdogan plunged the country into civil war be restarting a long simmering battle with the PKK and proceeded to crack down on journalists and anyone else critical of the ruling AKP. Ultimately, new elections were called and AKP put up a stronger showing, effectively paving the way for Erdogan to rewrite Turkey's constitution and install an executive presidency.

But Erdogan's bullying isn't confined to his domestic political agenda. Greek media has obtained an internal memo which suggests the Turkish strongman effectively blackmailed the EU by demanding cash payments in exchange for efforts to curb the flow of migrants into Western Europe. œWe can open the doors to Greece and Bulgaria anytime and we can put the refugees on buses, Erdogan allegedly said, on the way to demanding $3 billion per year in aid.

Read more below.

* * *

Submitted by Keep Talking Greece

In internal EU memo obtained by Greek media reveals the blatant Turkish blackmail on the refugee crisis. The memo contains a summary of the dialogue between Turkish President Recep Tayyip Erdogan with European Commissioner Jean Claude Juncker and President of the European Council Donald Tusk on 16th November 2015 during the G20 Summit in Antalya, Turkey. The three Presidents were discussing the Action Plan to ...

Edge vs Risk Management (Video)

By EconMatters

Some traders think having good risk management in place is an edge, but there is a distinction to be made here. Today is a good day in financial markets to discuss this topic in depth.

© EconMatters All Rights Reserved | Facebook | Twitter | YouTube |

Dow Pares Losses to End Volatile Session Off 1.1%

The flight from risky assets accelerated Monday as the Dow industrials declined nearly 200 points and gold prices logged their biggest one-day gain in more than a year.

Deutsche Bank Shares Drop as European Banks Get Pummeled

Deutsche Bank's shares dropped sharply Monday, losing almost 10% of their value as the battered European banking sector came in for fresh punishment.

Chesapeake Energy: The End Isn't So Near

Chesapeake Energy is in survival mode, but investors have reacted with undue alarm to steps it has taken to stay afloat.

This government group wants to crack down on college financial aid cheats

A closer eye on companies cheating students and taxpayers out of financial aid dollars.

Market Extra: Why Wall Street isn't panicking about the stock-market tumble

Sharp moves in the stock market as defined by 1% or higher, have become the norm.

Bond Report: 10-year Treasury yield falls to one-year low

Treasury prices rally, pushing yields to a 12-month low on Monday, as stocks skid and investors bid up safe assets.

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
Proud to Be a Nihilist: Bill Mitchell on Econometrics and Numerical Prediction
Fixing Obamacare - Why It Won’t Be Easy
News Blog
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
30 Years Of American - German Trade Relations
How To Measure Audience Engagement Online
Chinese Smartphones On The Rise
Why Journalistic 'Balance' Is Failing The Public
75,000 Children In Nigeria At Risk Of Starving To Death
What We Read Today 01 December 2016
Investing Blog
Anticipating The Trend Change Makes For The Lowest Risk
It's Early Winter - Watch Out For Thin Ice
Opinion Blog
What Would It Take For Inflation To Surge - Or Even Just Emerge?
How Can China's Renminbi Deal With The Rising Dollar Risk?
Precious Metals Blog
Silver Prices Rebounded Today: Where They Are Headed
Live Markets
02Dec2016 Pre-Market Commentary: US Stock Futures Flat, Crude Prices Slipping, US Dollar Falls Below 101, Gold Steady, Trump Rally Set To Fizzle
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