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30Mar2016 Market Close: Markets Close In The Green, DOW Up 84 Points, WTI Crude Settles At Low 38 Levels And The US Dollar Remains Down At Support

Written by Gary

US markets closed well off their session highs (bearish) and the Spooz closed below its 'minor' resistance (2070) (bearish) and R1 (bearish). Although the small and large caps closed in the green, they were headed south, back to the early afternoon levels. Short-term indicators are directionless and some analysts are saying don't hold your breath waiting for the SP500 to reach 2080.

Todays S&P 500 Chart

The Market in Perspective

Here are the headlines moving the markets.

U.S. jury finds GM ignition switch defective but did not cause crash

NEW YORK (Reuters) - A U.S. jury found on Wednesday that a defective ignition switch was not to blame for a 2014 accident in a General Motors car, the first trial to reach a verdict since the company recalled millions of vehicles with the part.

U.S. judge strikes down MetLife designation of 'too big to fail'

WASHINGTON (Reuters) - Insurer MetLife Inc won a major regulatory and legal battle on Wednesday when a federal judge struck down the U.S. government's determination that it is "too big to fail."

Wells Fargo plans quiet assault on Wall Street from glass tower

NEW YORK (Reuters) - As Wall Street remakes itself on a former rail yard in the far west of Midtown Manhattan, one surprising name is leading the way.

BlackRock planning to cut 400 jobs: Bloomberg

(Reuters) - BlackRock Inc , the world's largest asset manager, is planning to cut about 400 jobs, or 3 percent of its workforce, Bloomberg reported, citing people with knowledge of the matter.

Interest rate optimism pushes Wall Street higher

(Reuters) - U.S. stocks pushed further into positive territory for 2016 on Wednesday, helped for a second session by comments from Federal Reserve Chair Janet Yellen that eased anxiety about potential interest rate hikes.

Tata's UK steel exit raises expectations of European mergers

FRANKFURT (Reuters) - Tata Steel's plan to sell its British steelmaking business has raised expectations of a long-awaited consolidation in the European steel sector, which is suffering from years of unaddressed overcapacity.

Boeing plans to cut up to 8,000 airplane jobs: sources

(Reuters) - Boeing Co plans to cut up to 8,000 jobs this year at its commercial airplane division, according to two people familiar with the matter, a move that could slash $1 billion in costs and help it battle for sales against European rival Airbus .

Fidelity marks down stake in pre-IPO startups Cloudera, Dropbox

BOSTON (Reuters) - Fidelity Investments has slashed its estimated valuation of technology companies Cloudera and Dropbox, a report on Wednesday showed, in the latest indication of concern over the high prices of startups that have raised many millions from private investors, but delayed going public.

Valeant seeks lender approval to extend deadline for annual report

(Reuters) - Valeant Pharmaceuticals International Inc said it was asking its lenders to extend until May 31 the deadline for it to file its annual report, lessening the chance of a default on its $30 billion debt if it misses the current deadline of April 29.

Bonds, Bullion, & Black Gold Bidless But Stock-Bounce Sticks

"Just one more wafer-thin mint of monetary-easing?"

Before we start, a reminder...

This was the greatest quarterly comeback in the history of stocks...

Because fundamentals...

So with that said, stocks remain the big winner post-Yellen as all the gains for bonds, bullion, and black gold are erased...

Small Caps are the biggest (Short-Squeeze) winners post-Yellen...

S&P Futs saw VWAP buying orders at the open but selling pressure built...


Chipotle Pivots To Sell Burgers; Market Not Impressed

Chipotle has had enough of being an e-coli associated Mexican food company: according to Bloomberg, the fast food (and at least in recent months, just as fast food-poisoning company) may be getting into the burger business.

The company filed a trademark application this month for œBetter Burger, according to the U.S. Patent and Trademark Office website. Chipotle, which has already invested in two smaller chains, is considering opening another restaurant concept focused on hamburgers, according to Chris Arnold, a spokesman for the Denver-based company.

The plan, if there is one, is to imitate the success of such recent burger success stories as Shake Shack, and to drop some of the baggage associated with the company's recent disastrous e-coli outbreaks. Also, to boost traffic in the aftermath of the company's recent disastrous same store sales which plunged 26% in February.

"It's a growth seed idea we are exploring," Arnold said in an e-mail. "We have two non-Chipotle growth seeds open now -- ShopHouse and Pizzeria Locale -- and have noted before that the Chipotle model could be applied to a wide variety of foods."

Bloomberg adds that even as it mulls expansion, "the burrito seller is trying to recover from a food-safety crisis that began last year. The company suffered a series of E. coli and norovirus outbreaks, driving away customers and spurring an investigation by the Centers for Disease Control and Prevention. The fallout is ongoing: Same-store sales tumbled 26 percent in February, and the company expects to report a loss in the first quarter."

At first blush, it appear that it is precisely the company's attempt to shed its bacteria-laden image by diversifying into "untainted" food products which are not (yet) associated with the company's recent reputation.

A burger chain would give Chipotle a way to expand under a fresh banner. It also would continue efforts to apply the fast-casual model - fresh ingredients ...

Russian Nuclear Ballistic Missile "Iskander" Spotted In Syria

There was much surprise in geopolitical circles several weeks ago when, completely out of the blue, Russian president Vladimir Putin announced he would begin withdrawing military forces from Syria at once, a move hailed by some as confirmation Russia had failed to achieve its goals in the civil war-ridden nation which serves as a hotbed of ISIS terrorist attacks around the globe, and by others as victory.

Both camps may have been wrong. According to a Reuters, while the Kremlin announced one thing to the international community behind the scenes it has been doing more of the same: sending even more forces, arms and supplies to Syria.

As Reuters explains "when Vladimir Putin announced the withdrawal of most of Russia's military contingent from Syria there was an expectation that the Yauza, a Russian naval icebreaker and one of the mission's main supply vessels, would return home to its Arctic Ocean port. Instead, three days after Putin's March 14 declaration, the Yauza, part of the "Syrian Express", the nickname given to the ships that have kept Russian forces supplied, left the Russian Black Sea port of Novorossiysk for Tartous, Russia's naval facility in Syria. Whatever it was carrying was heavy; it sat so low in the water that its load line was barely visible."

Reuters' assessment is blunt: Putin lied and has been actively sending more equipment to Syria:

Its movements and those of other Russian ships in the two weeks since Putin's announcement of a partial withdrawal suggest Moscow has in fact shipped more equipment and supplies to Syria than it has brought back in the same period, a Reuters analysis shows.

It is not known what the ships were carrying or how much equipment has been flown out in gia ...

Shale Is the Odd Man Out in Oil Reckoning

After delaying the inevitable, rapid decline rates are poised to catch up with shale crude producers, giving them a big role in balancing the global crude market.

Finding Microsoft's Voice in Mobile

Voice-controlled 'bots' may be an alternative to the mobile-app world that software giant has largely missed.

Déjà Vu All Over Again for Markets

Through the first three months of the year, stocks and Treasurys followed a similar pattern to 2015. Will the parallels continue?

Mosquito haters, listen up: It may be time to eradicate your least-favorite bug

With little prospect of a vaccine any time soon, the Zika virus can only be contained by killing mosquitoes.

Matthew Lynn's London Eye: Central banks will never admit they've run out of ammunition

Central banks are loathe to admit it, but they've run out of ammunition to fight the war against deflation, writes Matthew Lynn.

The Wall Street Journal: Microsoft's offensive chatbot Tay returns, by mistake

Microsoft Corp's artificially intelligent and offensive chatbot named Tay was inadvertently brought back on line by a researcher Wednesday afternoon, then quickly removed.

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