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19Apr2016 Market Close: New Yearly Highs For The Markets, Crude Settles In The Mid 42's, US Dollar In The High 93's And Short-Term Indicators Are Screaming Caution

Written by Gary

US markets made new milestones today with the DOW closing up 50 points, once again over 18 K. The Spooz closed near its session highs marking and new high for the year. While the bulls are partying on, some analysts are clamoring, 'Now is the time to get out'! Traders are wishing for more volatility and let's get on with the show.

Todays S&P 500 Chart

The Market in Perspective

Here are the headlines moving the markets.

Wall Street nears record terrain as quarterly reports roll in

(Reuters) - The S&P 500 rose toward a record high in a choppy session on Tuesday, lifted by energy stocks and a solid quarterly report from Johnson & Johnson.

Goldman posts weakest results in four years, revenue tumbles 40 percent

(Reuters) - Goldman Sachs Group Inc reported the worst quarterly results in more than four years on Tuesday as volatile markets kept clients from trading, investing or issuing new securities.

Exclusive: Bass Pro teams up with Goldman for Cabela's bid - sources

(Reuters) - Privately held outdoors retailer Bass Pro Shops has partnered with Goldman Sachs Group Inc's private equity arm to make an offer for U.S. hunting and fishing store chain Cabela's Inc , according to people familiar with the matter.

Viacom says no renewal so far on carriage deal with Dish

(Reuters) - Viacom Inc's carriage deal with Dish Network Corp is scheduled to expire on Wednesday and no agreement is in sight, a Viacom spokesman told Reuters on Tuesday.

Big U.S. banks grapple with costs as they face an ominous 2016

(Reuters) - Five large U.S. banks cut more than $5 billion from their expenses during the first three months of the year, but it was still not enough to stop the financial bleeding in what was by many measures the worst quarter for Wall Street since the financial crisis.

Oil rises as Kuwaiti strike cuts output for third day

NEW YORK (Reuters) - Oil prices jumped more than 3 percent on Tuesday after a strike by workers in Kuwait nearly halved the OPEC member's crude production, overshadowing bearish sentiment after Sunday's failure by producers to agree to freeze output levels.

IMF, World Bank, U.N., OECD form new group to stop tax erosion

WASHINGTON (Reuters) - The International Monetary Fund and the World Bank said on Tuesday they are joining forces with other international organizations to cooperate on tax issues and develop new tools and standards to halt tax base erosion and evasion.

U.S. tells court Staples, Office Depot touted two-player market

WASHINGTON (Reuters) - No. 1 office supply store Staples Inc and its biggest rival Office Depot Inc have both touted the office supply market as having just two major players, the U.S. government argued on Tuesday as it tried to get a court to prevent the two from merging.

Apple refused China request for source code in last two years: lawyer

WASHINGTON (Reuters) - Apple has been asked by Chinese authorities within the last two years to hand over its source code but refused to do so, the company's top lawyer told U.S. lawmakers at a hearing on Tuesday.

Sam Zell Predicts Recession Next Year: "I'm Being Realistic, Not Pessimistic"

Despite the proclamations from any and every Federal Reserve talking-head, Sam Zell appears to be willing to 'peddle some fiction' about the less than awesome reality in America. Having correctly called the top of the last commercial real-estate cycle, Zell is predicting global problems will likely push the U.S. into a recession in the next year...

"I'm not being pessimistic, I'm being realistic," he said last week at a real-estate conference in New York. The U.S. economy is now "in the ninth inning," he said.

While the U.S. is humming along fine at the moment, The Wall Street Journal reports that Mr. Zell warned that it isn't immune to problems in the world economy.

Those problems include low oil prices, falling import demand from emerging economies, volatile financial markets, deflation, possible negative interest rates and currency exchange rate fluctuations, he said.

The Wall Street Journal is careful to play down Zell's dire warning...

This isn't the first time Mr. Zell has talked about a recession.

In 2012, he warned that corporate enterprises were delaying projects and other capital expenditures, indicating a lack of confidence in the economy. He also said the government's quantitative-easing economic stimulus program had created an excess flo ...

The Very Good News In Goldman Sachs's Bad Earnings Report

Goldman Sachs had a lousy first quarter. But Wall Street isn't as troubled as it seems

Netflix's Earnings Flop: The Show That Really Matters

Investors have switched their focus to Netflix's international growth. But the U.S. is the place to watch.

Playtime Is Over for Mattel Investors

Mattel shares appear to be priced nearly for perfection ahead of Wednesday's quarterly results.

Deep Dive: The best dividend stocks among the S&P's strongest sectors of 2016

These companies feature attractive yields and a steady flow of dividends for at least five years, writes Phil van Doorn.

Emerging Markets Report: For first time in 5 years, these analysts are bullish on emerging markets

Analysts at Bank of America Merrill Lynch may have had Bob Dylan on their minds when they reversed their five-year bearish call on emerging markets to a long-term bullish view, predicting that the chumps of yesteryear will be the champions of tomorrow.

Summary of Economic Releases this Week

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Earnings Summary for Today

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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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