Easing into the afternoon session the averages have been trading at the R1 level ($SPX 2050.50) making the SP500 2044 level a support paving the way to the next resistance of 2075/80. Short-term indicators are showing a slowing of further advancement in the markets and may be a signal of testing lows or worse.
Here is the current market situation from CNN Money
North and South American markets are mixed today. The IPC is up 1.15% while the S&P 500 gains 0.41%. The Bovespa is off 0.92%.
(Reuters) - China's Anbang Insurance Group Co is primed to acquire Starwood Hotels & Resorts Worldwide Inc , the operator of Sheraton and Westin hotels, for more than $13 billion cash in what would be the largest ever deal by a Chinese company in the United States.
NEW YORK (Reuters) - Argentina settled with an additional 115 individual creditors holding defaulted sovereign bonds for $155 million, Daniel Pollack, the court-appointed mediator in the long-running case, said on Friday.
NEW YORK (Reuters) - Oil rewrote its 2016 peaks on Friday, barreling into higher $40 territory and toward multi-week gains on expectations of a production freeze by major exporters and stronger seasonal fuel demand in the United States.
DETROIT (Reuters) - Ford Motor Co Chief Executive Officer Mark Fields' salary, bonus and stock awards jumped 17 percent to $17.4 million in 2015, a year in which the auto maker earned a record pretax profit, the company said on Friday.
LONDON (Reuters) - British prosecutors have been granted warrants for the arrest of four Germans and a Frenchman they want to bring to London to face charges of conspiracy to rig Euribor benchmark interest rates.
STUTTGART, Germany (Reuters) - A German court has acquitted Wendelin Wiedeking, a former chief executive of Porsche , of alleged market manipulation in the course of one of the auto industry's most controversial takeover battles.
Veritaseum founder, Reggie Middleton, has accurately called the banking crisis, European sovereign debt crisis, the housing & CRE crash as well as several major tech paradigm shifts over the last 10 years. Click graphic above for a video synopsis of his track record.
The 2008 financial crisis and ensuing recessions have resulted in crisis in the global banking sector. Borrowers' inability to make pay back debt or even service debt due to an economic slowdown had hurt the banking system. Contrary to popular rhetoric, the European economy is still far away from recovery and so are the banks that are domiciled there. The sector is grappling with barrage of concerns including negative interest rates, elevated levels of NPL, China's synthetic growth engine facing the real reality of a slowdown, the softening of apparently elevated oil prices and impending regulatory and litigation costs.
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