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.

05Apr2016 Market Close: WTI Crude Settles Fractionally Higher, Wall Street Lower Ahead Of FOMC Meeting

Written by Gary

US markets closed down after having rallied for past several sessions as investors took gains off the table and ahead of an upcoming quarterly reporting season that is expected to reveal sharply lower earnings. Investors are obviously concerned ahead of tomorrow's FOMC minutes release.

Todays S&P 500 Chart

The Market in Perspective

Here are the headlines moving the markets.

U.S., Volkswagen may not reach emissions deal by April 21 - government official

(Reuters) - The top U.S. environmental official expressed uncertainty on Tuesday about whether the Obama administration and Volkswagen AG will meet an April 21 court deadline to come up with a plan to address excess emissions from 580,000 diesel vehicles sold in the country.

Bank of Montreal CEO plays down the impact of oil price slump

TORONTO (Reuters) - Bank of Montreal's top executive played down the impact of the drop in oil prices, saying the lender's consumer loan delinquencies had not risen and that struggling energy companies would restructure rather than fail.

Trump slams Ford's new $1.6 billion investment in Mexico

DETROIT/WASHINGTON/MEXICO CITY (Reuters) - Ford Motor Co , criticized by Republican presidential front-runner Donald Trump for manufacturing outside the United States, announced on Tuesday that it would invest $1.6 billion to build more small cars in Mexico, starting in 2018.

Iceland's leader resigns, first casualty of Panama Papers

LONDON/REYKJAVIK (Reuters) - Iceland's Prime Minister Sigmundur David Gunnlaugsson is to resign, his party said on Tuesday, becoming the first casualty of leaked documents from a Panamanian law firm which have shone a spotlight on the finances of an array of politicians and public figures worldwide.

Justice Department will sue to stop Halliburton, Baker Hughes merger: source

(Reuters) - The U.S. Justice Department will file a lawsuit as soon as this week to stop oilfield services provider Halliburton Co from acquiring smaller rival Baker Hughes, a deal that would combine the No. 2 and No. 3 oil services companies, a source familiar with the matter said.

After rally, earnings gloom sets in on Wall Street

(Reuters) - Wall Street fell on Tuesday as investors took gains off the table after a recent rally and ahead of an upcoming quarterly reporting season that is expected to reveal sharply lower earnings.

Twitter to stream Thursday night NFL games in 2016 season

(Reuters) - The National Football League said it had chosen Twitter as its exclusive global partner for streaming its Thursday night games during the 2016 regular season.

Exclusive: Pfizer leaning toward abandoning deal with Allergan - source

(Reuters) - Drugmaker Pfizer Inc is leaning toward abandoning its $160 billion agreement to buy Allergan Plc in light of the U.S. Treasury's new measures to curb such tax evading deals, a source familiar with the situation said on Tuesday.

France's Royal offers nuclear plant site for Tesla factory

PARIS (Reuters) - French Energy Minister Segolene Royal has suggested to Tesla founder Elon Musk that he builds an electric car factory on the site of France's oldest nuclear reactor after it closes at the end of the year, AFP reported on Tuesday.

What The Charts Say: Complacent, Complacent-er, Complacent-est

While breadth and seasonals are constructive, BofA's Stephen Suttmeier warns complacent put/call, VXV/VIX, and volume distribution are April risk factors.

Since mid-March, accumulation (up volume or buying) has fallen relative to distribution (down volume or selling) as the US equity market has rallied, which is negative divergence and risk factor for April. To suggest that this complacency is beginning to take its toll on price action, the S&P 500 must break nearby support at 2044-2022, which coincides with revised channel support from February, and fall out of its daily overbought condition.

The NYSE McClellan Oscillator remains weak and has a month-long bearish divergence with the S&P 500 moving into early April. This is similar to the divergence moving into early November, and a risk factor for April.

VXV/VIX says investors very complacent about volatility

There is nothing like a 14%+ rally in 34 days, with help from a Dovish Janet Yellen last week, to make investors feel more comfortable about the US equity market. In terms of sentiment, the VXV/VIX ratio is extremely overbought or complacent as investors do not expect an immediate increase in volatility. The VXV/VIX remains in the overbought zone above 1.20 after hitting the highest reading since March 2015. The S&P 500 has generally s ...

Inside The Biggest Short Squeeze Ever, A Surprise Emerges

Less than a month ago when we looked at the performance of the most-shorted stocks, we confirmed that at least from a price action standpoint the short squeeze that had started in early February on the back of the 50% move higher in oil, had become the biggest short squeeze on record.

Today, courtesy of JPM's Prime Brokerage, we can not only confirm that the move higher from the February lows was the biggest squeeze ever, but share a unique glimpse inside its mechanics, where something surprising emerges.

The chart below shows the cumulative daily market value change of shorting and covering activities in the PB portfolio across ETFs and Equities YTD 2016 (as of Mar. 31, 2016). The data includes all strategies.

There is something very surprising about the chart below: what it shows is that whereas hedge funds have been actively shorting single name stocks, when it was time to cover, the single names remained shorted but it was ETFs where the covering/buying activity took place.

Potentially, this huge ETF covering spree (d ...

Allergan's Inversion Problem: There Is a Plan B

New tax rules have Allergan shares reeling, but investors don't have to be permanently disappointed.

Halliburton-Baker Hughes Deal: Time and Justice Take a Toll

Halliburton and Baker-Hughes are worse for wear now that their merger is likely to be blocked by the Justice Department.

Why Things Are Looking Up for Risky Assets

Minutes from the Fed's most recent meeting will likely show a cautious approach. That should bode well for risky assets.

Fitbit Blaze is beating Apple Watch on Amazon

Fitbit said it sold more than 1 million Fitbit Blaze devices in its first month on the market.

This billboard says everything you need to know about absurdity of San Francisco real estate

Entry-level price of $1 million for a new-construction development in a distant corner of the City by the Bay " and it's not even startling.

Futures Movers: Oil futures end lower as focus turns to supply data

Oil futures finish a choppy session with losses, undercut by fading expectations for a global production freeze as traders turn their attention back to supply data.

Summary of Economic Releases this Week

Real Time Economic Calendar provided by

Earnings Summary for Today

Earnings Calendar provided by

leading Stock Positions

Leading Stock Quotes powered by

Current Commodity Prices

Commodities are powered by

Current Currency Crosses

The Forex Quotes are powered by

To contact me with questions, comments or constructive criticism is always encouraged and appreciated:

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


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
Main Home
Analysis Blog
A Short Note on a Connection Between Marginalist Economics and Folk Medicine
Run A High Pressure Economy? Janet Yellen Does Not Understand the Problem
News Blog
Ten Ways To Live A Happier Life According To Animals
21 October 2016: ECRI's WLI Growth Index Again Declines
Advance Estimate 3Q2016 GDP Quarter-over-Quarter Growth at 2.9 Percent.
Rail Week Ending 22 October 2016 Better Than The Previous Week
What Happens After The Islamic State Loses Mosul
Infographic Of The Day: The History Of Women's Ice Hockey In Canada
Early Headlines: Asia Stocks Mixed, Huge Antarctic Marine Park, Can Trump Get To 270?, US Workers Gaining, UK Inflation, France GDP, India Savings Lag And More
Why Amazon Gives So Many Perks To Prime Members
Where Workplace Trust Is Strongest
How A Lack Of Sleep Affects Your Brain - And Personality
How Accurate Are Final US Election Polls
What We Read Today 27 October 2016
A Pony And His Beloved Teddy Bear Reunite After Being Apart For 3 Years
Investing Blog
Technical Thoughts: Looking For The Rebounds
Gold That Pays Dividends
Opinion Blog
Global Debt Investors: The Silence Of The Lambs
A Hard Brexit And Reduced Migration Won't Benefit UK Workers
Precious Metals Blog
Inflation Surging As Platinum Signals Stock Market Decline
Live Markets
28Oct2016 Market Update: Wall Street Tries To Fight Off Bears And Fails, Gold Shoots Higher, US Dollar Falling Like A Rock, Expect Volatility
Amazon Books & More

.... and keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Middle East / Africa
USA Government

Crowdfunding ....



Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day


Asia / Pacific
Middle East / Africa
USA Government

RSS Feeds / Social Media

Combined Econintersect Feed

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution



  Top Economics Site Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2016 Econintersect LLC - all rights reserved