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25Mar2016 Pre-Market Commentary: USA Markets Closed Today

Written by Gary

World markets are mixed but whether they are up or down - it is not by much. The USA markets are taking a day off for Good Friday. Wishing all a Happy Easter weekend.


Here is the current market situation from CNN Money

European markets finished sharply lower on Thursday with shares in France leading the region. The CAC 40 is down 2.13% while Germany's DAX is off 1.71% and London's FTSE 100 is lower by 1.49%.

What Is Moving the Markets

Here are the headlines moving the markets. xxxxxxxxxxx

Despite oil's decline, energy companies win with equity offerings

NEW YORK (Reuters) - More than a dozen companies in the hard-hit exploration and production energy industry have announced new share offerings this year - and have generally been rewarded in the stock market for the strategy.

Uber profits elsewhere support 'sustainable' spending in China: CEO

BOAO, China (Reuters) - Ride hailing app company Uber Technologies Inc [UBER.UL] is generating more than $1 billion in profit a year in its top 30 cities globally, and partly using that money to bankroll its expansion in China, Chief Executive Travis Kalanick said in an interview.

BOJ tankan likely show biz mood worsens due to strong yen, global economy

TOKYO (Reuters) - Japanese manufacturers' confidence probably deteriorated to the lowest in nearly three years and it is expected to worsen in the coming quarter due to exporters concern over a strong yen and worries over the global economy, a Reuters poll showed.

Gilead ordered to pay Merck $200 million in hepatitis C drug patent dispute

SAN JOSE, Calif.,/NEW YORK (Reuters) - A federal jury on Thursday ordered Gilead Sciences Inc to pay Merck & Co $200 million in damages for infringing two Merck patents related to a lucrative cure for hepatitis C.

Microsoft told potential Yahoo bidders it might back bids: report

(Reuters) - Microsoft Corp executives are in talks with equity firms considering bids for Yahoo Inc! saying that Microsoft might be willing to offer "significant financing" for their efforts, tech news site Recode reported on Thursday.

China hopes ZTE can be removed from U.S. export restriction list as soon as possible

SHANGHAI (Reuters) - China's commerce ministry said on Friday it hoped telecom equipment maker ZTE Corp could be removed as soon as possible from a U.S. list of companies slapped with tough export restrictions this month.

Economic data could put stocks back on higher path

NEW YORK (Reuters) - The March U.S. employment report and other key economic numbers next week could help U.S. stocks resume their recent winning path as long as that data hits the sweet spot: Not strong enough to add to worries about further interest rate hikes, yet not weak enough to cause concern about a recession.

Lockheed gets $1.5 billion deal for C-130J aircraft: Pentagon

WASHINGTON (Reuters) - Lockheed Martin Corp has won a contract worth $1.5 billion for work on 28 C-130J military transport aircraft funded by the fiscal 2016 defense budget, the Pentagon said on Thursday in its daily digest of major contracts.

U.S. extends BMW deadline to get replacement air bag inflators

(Reuters) - BMW AG will get five more months to acquire Takata air bag replacement parts for a massive recall because tests showed some of the substitute inflators may also be defective, the U.S. auto safety agency said on Thursday.

Diversify Into Gold As An Insurance Policy Against Geopolitical Risk

Investors could be forgiven for heading for the hills given the tumultuous start to 2016, so writes Andrew Oxlade in The Telegraph today who advises investors to diversify into gold as an insurance policy.

We have long been advocates of exposure to gold as an insurance policy. This was demonstrated once again in the recent sell-off when the price of bullion surged from $1,061 (£762) an ounce on New Year's Day to $1,246 (£895) by early February. In times of fear, gold is in demand. The price also rises when inflation becomes a danger.

Deflation remains the bigger threat for now, which is partly why gold has been a poor investment in recent years, but the money printing excesses of central banks could yet unleash inflation. In the meantime, the gold price offers some protection during repeat episodes of buckling confidence.

Gold_GBP
Gold in GBP - 5 Years

BaNK LiVeS MaTTeR...

BANK LIVES MATTER


The Threat Continues: Yuan Weakens For 6th Straight Day - Longest Losing Streak In 2 Years

PBOC fixed the Yuan at its weakest in 3 weeks, pushing the devaluation streak to its longest since early January. However, Offshore Yuan has now dropped over 1.1% against the USD, extending losses for the 6th straight day to 3-week lows. This is the longest streak of weakness in the offshore Yuan since April 2014.

It appears EUR and JPY took enough pain so the basket is revrting to the USD again...

What's the opposite of passive-aggressive as a clear message is being sent to The Fed - tighten and we unleash the Yuan-weakness-driven turmoil...

Refugee Crisis: Using Chaos To Build Power

Submitted by Alex Newman via TheNewAmerica.com,

A European Union military force with power to intervene in member states. A new "Marshall Plan" to radically redesign whole regions of the world and impose regional government. A United Nations empowered to manage it all. Christendom under siege. And the end of nationhood as it is understood today. That is where the "refugee crisis" is heading, as the engineered disaster wreaks havoc across Europe and beyond. Despite the appearance of chaos, though, it is all by design, with a series of radical goals in mind.

While the establishment's demands on Europe to accept millions of Middle Eastern refugees have been couched in "humanitarian" rhetoric, the real agenda is nothing of the sort. Rather than helping out their fellow human beings, globalist forces actually created the refugee crisis and the suffering behind it. And they are using it to advance multiple, related agendas — primarily globalism and statism. That the crisis is being exploited to undermine Western culture, national sovereignty, and even nationhood itself is now beyond dispute. Top globalists are openly bragging about it.

Coming to the Oil Patch: Bad Loans to Outnumber the Good

Bad loans are likely to outnumber good ones soon in the U.S. oil patch, an indication of the pressure on energy companies from the crash in prices. In response, several major banks are reducing their exposure to the sector.

Square's Newest Offering: Bank Loans

Square said Thursday it hopes to speed its path to profitability by offering loans through a partner bank as an add-on service to its core payments business.

The Decline of Dissent at the Fed

Dallas Fed President Robert Steven Kaplan is part of a widening consensus taking root inside the nations central bank for a strategy of raising rates slowly in the months and years ahead.

Rail Week Ending 19 March 2016: Rail's Slide Into The Abyss Worsens

Week 11 of 2016 shows same week total rail traffic (from same week one year ago) declined according to the Association of American Railroads (AAR) traffic data. All rolling averages are negative and in decline.

18 March 2016: ECRI's WLI Growth Index Improves And Is Now Barely Negative

ECRI's WLI Growth Index which forecasts economic growth six months forward is inching towards expansion.This index now spent 34 consecutive weeks in negative territory.

The Fed: Economists name the Fed's biggest interest-rate backers

Here is the best guess of who is agitating for a faster pace of interest rate hikes at the Federal Reserve

Market Extra: The Swiss franc is your best bet for Brexit protection

If Britons vote to support the U.K.s exit from the European Union, the Swiss currency is the best hedge for Brexit risk, HSBC says.

Will easier path to student debt forgiveness cost taxpayers billions?

Students who went to a now-defunct for-profit college are eligible for a more streamlined path toward debt relief, Department of Education officials announced Friday.

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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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