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.



25Feb2016 Market Close: SP500 Closes At Major Resistance On Light Volume, WTI Settles At Low 33's, Tomorrow Is Going To Be A Roll Of The Dice

Written by Gary

US markets did an interesting melting up after diving to the morning lows at the opening. The DOW and Spooz climbed right up to their respective major resistances' (16,700 & 1950) and then closed on light green volume. We have seen this before when few thought the markets could go any higher because of this or that bearish indicator, and they did. Well, here we are again. Is this time different?

Todays S&P 500 Chart

The Market in Perspective

Here are the headlines moving the markets.

Apple files arguments in court opposing FBI iPhone request

(Reuters) - Apple Inc on Thursday doubled down on its resistance to the U.S. government's attempt to force it to unlock an encrypted iPhone belonging to one of the San Bernardino shooters, arguing for the dismissal of a court order compelling it to act on the grounds that it would violate its free speech rights and blur the lines between courts and Congress.

U.S. judge turns up heat on VW with March emissions fix deadline

(Reuters) - A federal judge turned up the heat on Volkswagen AG on Thursday, setting a March deadline for the German automaker to state whether it has found an emissions fix for 600,000 diesel vehicles that is acceptable to U.S. regulators.

Best Buy forecast misses expectations

(Reuters) - Best Buy Co Inc forecast current-quarter sales and profit below analysts' estimates as the biggest U.S. consumer electronics retailer by store count struggles with falling sales of mobile devices.

New York judge grants request to depose Viacom CEO

(Reuters) - Viacom Inc Chief Executive Philippe Dauman's lawyers failed to persuade a New York judge to quash his deposition in a high-profile lawsuit over media mogul Sumner Redstone's mental competency.

Halliburton to slash 5,000 more jobs amid oil slump

(Reuters) - Oilfield services provider Halliburton Co , pressured by a prolonged slump in crude oil prices, will further slash its workforce by about 8 percent, or by 5,000 jobs, company spokeswoman Emily Mir told Reuters on Thursday.

Wall Street trundles higher as battered investors eye support

(Reuters) - Wall Street gained on Thursday as strong U.S. manufacturing data pointed to a recovery in the struggling sector and some investors saw opportunities after weeks of volatility.

Buffett annual letter comes amid 'conspicuous' performance lag

NEW YORK (Reuters) - Warren Buffett will release his annual letter to Berkshire Hathaway Inc shareholders after a year when its stock price lagged the broader market by the most since 2009, adding to years of underperformance.

Sturm Ruger sees more gun demand if Democrat is next president

SAN FRANCISCO (Reuters) - Sturm Ruger & Co expects a lift in demand for its firearms if a Democrat wins this year's presidential election and becomes positioned to appoint future Supreme Court Justices, the company's CEO said on Thursday.

"Broken" Bond Market Sparks Farcical Oil & Stock Buying Scramble

Extremely not suitable for work... It just seemed like one of those days...

This was yesterday...

And this is today...

Everything was fine, treading water... weaknes after weak data and oil lower... AND THEN NY Fed cancelled the 7Y auction and all hell broke loose...

Unleashing another epic short squeeze...

Another spell of ovenight weakness in futures that was gobbled up at the EU open and US open...Futures were ramped to the highs on Monday, and ran those stops

Prepare To See Many More Ads Like This One

"It's not fair." No one told us that these investments could lose money... where's my lawyer?

h/t bringsjohn

One wonders how long before this issues becomes mainstream and Hillary and Sanders argue over who will bailout energy investors the fastest...


Apple Responds To The Government: "No Court Has Ever Authorized What The Government Seeks"

Moments ago, as part of the ongoing feud between the FBI and Apple over the question of whether or not the US government should be allowed to have a backdoor hack into every iPhone, the Cupertino company filed a 65 page brief in the matter of the "search of the seized iPhone".

As can be seen in the full filing presented below, Apple argues that the government's request is "unprecedented" and violates the company's First Amendment rights. "This case is not a case about one isolated iPhone," Apple said in the filing, reiterating previous comments.

Here are some of the key comments:

This is not a case about one isolated iPhone. Rather, this case is about the Department of Justice and the FBI seeking through the courts a dangerous power that Congress and the American people have withheld: the ability to force companies like Apple to undermine the basic security and privacy interests of hundreds of millions of individuals around the globe. The government demands that Apple create a back door to defeat the encryption on the iPhone, making its users' most confidential and personal information vulnerable to hackers, identity thieves, hostile foreign agents, and unwarranted government surveillance. The All Writs Act, first enacted in 1789 and on which the government bases its entire case, œdoes not give the district court a roving commission to conscript and commandeer Apple in this manner. Plum Creek Lumber Co. v. Hutton, 608 F.2d 1283, 1289 (9th Cir. 1979). In fact, no court has ever authorized what the government now seeks, no law supports such unlimited and sweeping use of the judicial process, and the Constitution forbids it.

That's all great, but how is any of this different from the access the NSA already has to all digital communication technology? Apple continues:< ...

U.S. Stocks Climb, Along With Oil Prices

U.S. stocks rose along with oil prices Thursday, as beaten-down financial companies also gained.

Oil Prices Turn Positive on Cutback Hopes

Oil prices shook off losses Thursday and ended the day with a gain after Venezuela's oil minister said his country would meet with other top global producers to discuss efforts to stabilize the market.

A Big Bet on Gold Is Getting Crowded

From Mark Cuban to day traders, investors are piling into derivatives on a popular exchange-traded fund that stand to win big if the metal keeps climbing.

Bond Report: Treasury yields close lower despite oil rebound

Treasury prices inched higher, pushing yields slightly lower, on Thursday as U.S. government bond investors continued to use falling oil prices as a signal to shun assets viewed as risky.

The Wall Street Journal: Goldman struggling to sell $2 billion in bonds backing Solera buyout

Goldman Sachs Group is struggling to sell some $2 billion in bonds used to fund a buyout of Solera Holdings, as it grows more difficult for heavily indebted companies to borrow.

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
Is Free Trade Harming the Economy?
Bank of England Endorses Post-Keynesian Endogenous Money Theory
News Blog
The Psychology Behind Trump's Awkward Handshake ... And How To Beat Him At His Own Game
Most Lawsuits Against Trump Related To Travel Ban
Average Gasoline Prices for Week Ending 20 February 2017 Statistically Unchanged
Explainer: Trickle-down Economics
How The United States Is Governed
What We Read Today 21 February 2017
Wife Of Soldier Kisses His Flag-Draped Coffin: It Was Heartbreaking
The Age Of The Employee-less Employer
Projected Costs Of U.S. Nuclear Forces, 2017 To 2026
63.4% Homeownership Rate In 2016 Was Lowest Since 1966
The Homeownership Gap Is Finally Closing - Part Four Of Five
Infographic Of The Day: The Best And Worst Financial Decisions People Make
Early Headlines: Asia Stocks Mixed, Oil Mixed, Dollar Up, Gold Down, Microsoft Growth, US Cities' Homicides Up, Battery Age, Higher-Priced Carbon, Sweden Crime Data, Russia Passes Saudi Arabia And More
Investing Blog
Investing.com Technical Summary 21 February 2017
Market And Sector Analysis 19 February 2017
Opinion Blog
The Blame Game
Fascism Defined And Described By Oswald Mosley
Precious Metals Blog
Deflation And Gold: A Contrarian View
Live Markets
21Feb2017 Market Close: New Record Highs, Crude Slips Off Session Highs, US Dollar Settles Near Highs
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





























 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 - 2017 Econintersect LLC - all rights reserved