Wall Street was fractionally lower after making a run for the unchanged line today as investors digested U.S. corporate earnings as well as data that pointed to a slow global economic recovery. WTI crude fell below $40 before recovering modestly before the Doha meeting, but there is clear scope for disappointment.
Here is the current market situation from CNN Money
North and South American markets are mixed today. The Bovespa is up 1.45% while the IPC gains 0.26%. The S&P 500 is off 0.18%.
$NYA200R chart below is the percentage of stocks above the 200 DMA and is always a good statistic to follow. It can depict a trend of declining equities which is always troubling, especially when it drops below 60% - 55%. Dropping below 40%-35% signals serious continuing weakness and falling averages.
(Reuters) - Wall Street was slightly lower on Friday as investors digested U.S. corporate earnings as well as data that pointed to a slow global economic recovery, ahead of a crucial meeting of oil producers to help tackle a global surplus.
(Reuters) - Citigroup Inc's quarterly profit plunged 27 percent, dragged down by lower revenue from trading and investment banking as well as costs to shrink some businesses and cover bad loans to the energy industry.
WASHINGTON (Reuters) - U.S. industrial production fell more than expected in March as manufacturing output dropped by the most in a year and mining maintained its downward trend, the latest indication that economic growth braked sharply in the first quarter.
AMSTERDAM (Reuters) - Toyota , Volkswagen and Ford are the only remaining potential merger candidates for Fiat Chrysler , since its attempt to join up with GM was rebuffed, Chief Executive Sergio Marchionne said on Friday.
LONDON (Reuters) - The future of Bob Dudley at the head of BP seems untarnished by shareholders' unusual rejection of his pay package as 99.6 percent of them also backed his re-appointment and trust him to lead the company through a period of weak oil prices.
AMSTERDAM (Reuters) - Fiat Chrysler Automobiles (FCA) could build an Italian-style rival to Tesla's Model 3 within 12 months if the electric carmaker can prove the vehicle makes business sense, FCA Chief Executive Sergio Marchionne said on Friday.
WASHINGTON (Reuters) - Financial leaders from the Group of 20 major economies scrambled on Friday for a way to keep global growth from stalling amid concerns about a drop-off in international trade and the waning effectiveness of loose monetary policy.
Posted with permission and written by Rory Hall, The Daily Coin (CLICK FOR ORIGINAL)
he past three years we have seen the price of silver get beat down to new lows. We have also witnessed demand for physical silver continually escalate. During this three year run the U.S. Mint has stopped sales of American Silver Eagles, the most popular silver coin in the world, on three different occasions. The last time sales were shut down, in June 2015 and the U.S. Mint has rationed sales since production resumed in July 2015. As of this writing that would be ten months of rationed sales with no end in sight.
Louis Cammarasno and I picked up our bi-monthly silver update to review the latest numbers from both the Perth Mint and U.S. Mint. The interesting part is the Perth Mint. This time last year the Perth Mint was still a very small player and only producing approximately 500,000 silver coins, in total, per month. Since September 2015 that all changed. The Perth Mint is now averaging approximately 1.3 million silver coins per month. They are now a player in t ...
Submitted by Michael Snyder via The Economic Collapse blog,
Those that were hoping for an "economic renaissance" in the United States got some more bad news this week. It turns out that the U.S. economy is in significantly worse shape than the experts were projecting. Retail sales unexpectedly declined in March, total business sales have fallen again, and the inventory to sales ratio has hit the highest level since the last financial crisis. When you add these three classic recession signals to the 19 troubling numbers about the U.S. economy that I wrote about last week, it paints a very disturbing picture. Virtually all of the signs that we would expect to pop up during the early chapters of a major economic crisis have now appeared, and yet most Americans still appear to be clueless about what is happening.
Even I was surprised when the government reported that retail sales had actually fallen in March. Consumer spending is a very large part of our economy, and so if consumer spending is slowing down already that certainly does not bode well for the rest of 2016. The following comes from highly respected author Jim Quinn...
The Ivy League educated "expert" economists expected March retail sales to increase by 0.1%. They only missed by $6 billion, as retail sales FELL by 0.3%.
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