US averages are mixed with the DOW down 50 points and the Nasdaq up 20 points, both indexes trending higher. WTI crude has slipped off its morning high (32.97) to trade in the high 31's most likely because GS believe crude will go lower.
Investors worried about a global slowdown will keep them focused on early indicators of stress looking for signs that resilient domestic demand in Europe and the U.S. can sustain growth.
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 0.37% while Brazil's Bovespa is off 0.34% and U.S.'s S&P 500 is lower by 0.15%.
$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.
SINGAPORE (Reuters) - Aircraft engine makers are placing bets that could reshape their industry for decades as Boeing weighs a novel design for an airplane with 240-250 seats - a neglected area of the jet market.
WASHINGTON (Reuters) - Rising rents and healthcare costs lifted underlying U.S. inflation in January by the most in nearly 4-1/2 years, signs of a pick-up in price pressures that could allow the Federal Reserve to gradually raise interest rates this year.
(Reuters) - The Dow and S&P 500 slipped on Friday morning as a renewed slide in oil prices weighed on energy and materials stocks and prospects of a rate hike this year were rekindled by data pointing to firmer inflation trends.
(Reuters) - Yahoo Inc said its board has formed a committee of independent directors to explore strategic alternatives, the struggling Internet company's latest step to buy time from increasingly impatient investors.
NEW YORK (Reuters) - Lawyers for plaintiffs suing General Motors over a faulty ignition switch are seeking alternatives to a plan to try five more early test cases in federal litigation against GM over the issue, after a first trial fell apart unexpectedly.
(Reuters) - The chairman of the China Securities Regulatory Commission (CSRC), Xiao Gang, is stepping down, the Wall Street Journal reported, citing Chinese officials with direct knowledge of the matter.
FRANKFURT (Reuters) - Worries about a global slowdown will keep investors focused on early indicators of stress next week, looking for signs that resilient domestic demand in Europe and the U.S. can sustain growth in spite of emerging markets struggles.
If London decides to leave the European Union nobody in Europe will even notice. Great Britain is an entirely separate country, isolated from the European Union and does not participate in the Euro or Schengen Agreement. The European Union as a political platform is disintegrating and becoming more and more irrelevant and will be displaced by the European Monetary Union (EMU).
The center of power in Europe has shifted from the EU to the EMU and London politicians are fully aware of it. A Brexit will accelerate the process of political integration of the EMU members and make the EU politically less significant. Over the past decade we saw:
Countries can enter the European Union;
The very core values of the European Union can be set aside as we saw happening in Turkey just before the European Commission announced to restart Turkey's accession negotiations;
Trade relations with Great Britain can be suspended without any upheaval, as we saw it concerning non-EU member Russia;
Borders can be opened and closed as is the case in south-east Europe due to the refugee crisis;
The Dublin Regulation can be dissolved overnight in the face of the fact that more than a million refugees have entered Europe since the summer of 2015;
All these events hardly changed the life of the Europeans. Being a member of the European Monetary Union is of another magnitude. The Greek euro crisis changed the lives of millions of Greeks. During the tense days in July 2015, when the future of Greece, the EMU and indirect the future of Europe was at stake, Chancellor Merkel and President Hollande held 24 hours emergency meetings as did the Eurogroup. Great Britain and the European Parliament did not play any role whatsoever in these decisive mome ...
Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke.
On Thursday, Venezuela's central bank released a long-overdue -- and little-trusted -- report claiming that the country's inflation rate in 2015 was 180.9%. Unfortunately, for the global community, as high as this figure sounds, it is way below the true inflation rate.
Through a confluence of incompetence and widespread corruption, the Banco Central de Venezuela (BCV) has shown time and time again that it can't be trusted. Bogus inflation statistics are nothing new.
The only reliable method for calculating inflation in countries where the rates are elevated, like Venezuela, is to observe changes in the black market (read: free
market) exchange-rate data. These changes can then be translated into implied inflation rates. It's nothing more than an application of standard purchasing power parity (PPP) theory. When inflation is elevated, it is deadly accurate. Using the PPP approach, I have calculated that Venezuela's 2015 inflation rate was 384.7% - a far cry from the 180.9% that the government reported on Thursday.
As the accompanying chart indicates, the Banco Central de Venezuela has vastly underestimated inflation for 2015. Most of the investment banks' guestimates aren't much better. Like most big inflations, Venezuela's will end in tears.
The Consumer Financial Protection Bureau says it will try to make it easier for firms to introduce new consumer-finance products with a process aimed at reducing uncertainty about how regulators will view them.
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