US markets open higher, made the morning dip deep into the red and then climbed to new highs not seen since November 2015 and doesn't seem to be finished climbing. WTI crude is also climbing with abandon, passing Dec, 2015 high marks. The Spooz appears to be making a right shoulder that could spell 'doom' to the bulls, now passing R1 (2,106).
Here is the current market situation from CNN Money
North and South American markets are mixed. The S&P 500 is higher by 0.27%, while the Bovespa is leading the IPC lower. They are down 0.72% and 0.54% respectively.
$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.
MOSCOW (Reuters) - Russia said on Wednesday it was prepared to push oil production to new historic highs, just days after a global deal to freeze output levels collapsed and Saudi Arabia threatened to flood markets with more crude.
TOKYO (Reuters) - Mitsubishi Motors Corp admitted to manipulating test data to overstate the fuel economy of 625,000 cars sold in Japan, knocking its shares down more than 15 percent and wiping $1.2 billion off its market value on Wednesday.
WASHINGTON (Reuters) - U.S. home resales rebounded more than expected in March, suggesting the housing market recovery remained intact despite signs that economic growth probably stalled in the first quarter.
(Reuters) - Mario Gabelli, the largest owner of voting shares in Viacom Inc behind Sumner Redstone's family, told Reuters on Wednesday he expects a 10-day blackout of Viacom's programming on Dish Network Corp as a midnight deadline looms on their distribution deal.
BRUSSELS - The European Union charged Google on Wednesday with using its dominant Android mobile operating system to squeeze out rivals, opening a second front against the U.S. technology giant that could result in large fines.
LONDON (Reuters) - U.S. financial regulators are demanding regular updates from Wall Street banks about their contingency plans should Britain vote to leave the European Union, banking and regulatory sources told Reuters.
Presenting an artist's impression of what your new $20 bill will soon look like.
Moments ago Politico reported that the U.S. Treasury will announce that it plans to replace former President Andrew Jackson on the $20 bill with Harriet Tubman, the sources said. There will also be changes to the $5 bill to depict civil rights era leaders.
Not every dead president is being scraped however: treasury Secretary Jack Lew on Wednesday will announce a decision to keep Alexander Hamilton on the front of the $10 bill and put leaders of the movement to give women the right to vote on the back of the bill.
Lew's decision comes after he announced last summer that he was considering replacing Hamilton on the $10 bill with a woman. The announcement drew swift rebukes from fans of Hamilton, who helped create the Treasury Department and the modern American financial system. Critics immediately suggested Hamilton take Jackson off the $20 bill given the former president's role in moving native Americans off their land.
Jackson may remain on the $20 bill in some capacity, but will clearly be demoted.
Lew told POLITICO last July that Treasury was exploring ways to respond to critics. "There are a number of options of how we can resolve this," Lew said. "We're not taking Alexander Hamilton off our currency."
* * *
Confused? Disturbed? Angry? You are not alone. The following rant by Mac Slavo expressed many feeling about the prop ...
The Fed's troubling, recurring and perhaps criminal data "leakage" problem has been thoroughly documented over the past years: from Tim Geithner telling bank CEOs what the Fed will do will in advance of it becoming before, to early leaks of Fed Minutes, to breached embargoes, to the release of material non-public information to consultants such as Medley (which the FBI has been supposedly probing for the past year, and which cost Pedra da Costa his WSJ job), to the Fed's cozy relationship with the WSJ's Hilsenrath over the years, by now everyone knows that when it comes to giving advance looks of critical information to various preferred parties, the Fed has had no qualms.
It appears that finally changed a week ago, when the Fed's Inspector General already having had put his foot down on assuring there would be no more future leaks, got infuriated when the WSJ again managed to leak the story about the Fed failing various bank's "living wills" before it was released. As a Reuters reported, "the Federal Reserve and Federal Deposit Insurance Corporation are investigating how the Wall Street Journal came to report that the two agencies were giving failing grades to some U.S. banks' "living wills" the day before the regulators officially announced their determinations.
The headlines for existing home sales say "closings came back in force last month as a greater number of buyers - mostly in the Northeast and Midwest - overcame depressed inventory levels and steady price growth to close on a home". Our analysis of the unadjusted data shows that home sales declined, and the rolling averages degraded. Sales price rate of growth was mixed.
The creative minds at Snapchat thought it'd be a good idea to allow users to transform themselves into legendary pot smoker Bob Marley, complete with dreads, the iconic cap and darker skin tone. The virtual PC police were all over this one
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