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28Mar2016 Market Close: Small Caps Show Losses, DOW Up 20 Points, WTI Crude Settles In Mid 39's, Another Blah Session

Written by Gary

US markets closed mixed as weaker-than-expected U.S. economic data reduced concerns about potential interest rate hikes and a dip in oil prices pushed down energy shares. Small caps poised small losses as U.S. consumer spending barely rose in February and inflation retreated.

Todays S&P 500 Chart

The Market in Perspective

Here are the headlines moving the markets.

Sears CEO Lampert buys some of company's debt: sources

(Reuters) - Eddie Lampert, the chief executive officer of Sears Holdings Corp , has acquired a portion of the company's new $750 million loan, his latest bet on the parent of Sears department stores and Kmart discount shops, people familiar with the matter said.

Wall Street mixed as energy shares weigh

(Reuters) - U.S. stocks were mixed on Monday as weaker-than-expected U.S. economic data reduced concerns about potential interest rate hikes and a dip in oil prices pushed down energy shares.

Nasdaq hires ex-Chi-X Global CEO as North American equities head

NEW YORK (Reuters) - Transatlantic exchange operator Nasdaq Inc said on Monday it appointed Tal Cohen, the former head of Chi-X Global, to run its North American equities business.

U.S. consumer spending, trade data signal sluggish growth

WASHINGTON (Reuters) - U.S. consumer spending barely rose in February and inflation retreated, suggesting the Federal Reserve could remain cautious about raising interest rates this year even as the labor market rapidly tightens.

As earnings loom, McCormick tied to M&A as acquirer, target

NEW YORK (Reuters) - There is nothing bland about betting on McCormick.

Japan's NTT Data agrees to buy Dell's IT services unit for $3 billion

(Reuters) - Japan's NTT Data Corp said on Monday it has agreed to buy Dell Inc's information technology consulting division for over $3 billion to expand in North America and bolster its services business.

China's Anbang raises offer for Starwood to $14 billion

(Reuters) - China's Anbang Insurance Group Co raised its offer for Starwood Hotels & Resorts Worldwide Inc to almost $14 billion, Starwood said on Monday, in the latest challenge to the U.S. hotel operator's merger with Marriott International Inc .

Avon strikes deal with Barington Capital to avoid proxy fight

(Reuters) - Cosmetics maker Avon Products Inc has agreed to give Barington Capital Group LP the right to approve the appointment of an independent director, in a bid to avoid a proxy fight with the activist investor.

Pandora Media's founder returns as CEO; shares fall

(Reuters) - Online music streaming service Pandora Media Inc appointed founder Tim Westergren as its chief executive to replace Brian McAndrews, who left the company on Monday, sending its shares down 10 percent.

Stocks Shrug Off Dismal Data, Shootings, Bomb Alerts, And Viruses To Close Unchanged

Well that was a busy (no volume) day...But first some Easter Bunny fun...

Overnight JPY selling juiced stocks up but as soon as reality slapped them in the face - with housing data that everyone ignored for its idiocy and spending data that crushed hopes and dreams for Q1 GDP. However, the afternoon saw shootings at The Capitol, Times Square bomb alerts, and FBI investigating a major virus... stocks did not care.

We were not surprised...

Between 0.6% GDP and Capitol shooting, stocks should close at the highs

— zerohedge (@zerohedge) March 28, 2016

But for the 5th day in a row (and of increasing magnitude) Trannies were crushed at the open as it appears someone is dumping en masse...

Wonder what happens next?

All Is Not Well In Leveraged Speculation-Land

Excerpted from Doug Noland's Credit Bubble Bulletin,

The 1987 stock market crash raised concerns for the dangers associated with mounting U.S. "twin deficits." Fiscal and trade deficits were reflective of poor economic management. Credit excesses - certainly including excessive government borrowings - were stimulating demand that was reflected in expanding U.S. trade and Current Account Deficits. Concerns dissipated with the revival of the bull market. These days we're confronting the consequences of 30-plus years of mismanagement.

Japan was the early major recipient of U.S. Bubble excess (throughout the eighties). The world today would be a much different place if the policy onus had fallen upon the Fed and congress to rein in U.S. borrowing excesses. Instead, enormous pressure was placed on Japan (and, later, others) to ameliorate trade surpluses with the U.S. by stimulating domestic demand. Such stimulus measures were instrumental in (repeatedly) stoking already powerful Bubbles to precarious extremes.

Fiscal and Current Account Deficits exploded in the early-nineties post-Bubble period. And as the nineties reflation gathered momentum, the boom in Wall Street and GSE finance pushed the Current Account to previously unimaginable extremes. Then, as the decade progressed, the associated global boom in dollar-based finance proved ever more destabilizing. Always ignoring root causes, each new crisis provided an excuse to further stimulate/inflate.

The fundamentally unsound dollar proved pivotal for European monetary integration, as the strong euro currency coupled with global liquidity abundance ensured runaway Bubble excesses throughout Europe's periphery. If the U.S. could run perpetual Current Account Defi ...

U.S. Stocks Edge Higher

U.S. stocks were calm Monday ahead of a flurry of the end-of-month positioning and data-heavy trading that is expected to end the week.

Executive at Blackstone Spinoff Charged With Stealing $25 Million

Prosecutors charged former Blackstone managing principal Andrew W.W. Caspersen, most recently an executive at Park Hill, with stealing $25 million from investors and scheming to defraud investors of $70 million more.

Banks Ramp Up Push for Home-Equity Lines

Lenders are trying to offset faltering mortgage originations and a fizzling refinancing wave. For borrowers, the move comes as home values continue to rise.

March 2016 Texas Manufacturing Survey Manufacturing Is Now In Expansion.

Of the five Federal Reserve districts which have released their March manufacturing surveys - all but one are in expansion. A complete summary follows.

Rex Nutting: Think nothing is made in America? Output has doubled in three decades

Factories are running at close to a record pace, writes Rex Nutting.

Could this propel Apple's stock to $130?

Apple is expected to provide an update to its buyback program next month, but will it be a strong enough catalyst for its stock?

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