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28Apr2016 Market Update: Wall Street Showing Weakness As The DOW Slips Further Into The Red, WTI Rests In The High 45's And Indicators Show Some Bearishness

Written by Gary

Wall Street retreats from today's (and yesterday's) session highs pushing equities fractionally downward. WTI crude pushes relentlessness higher toward the $48 resistance as the US dollar tests (again) its support. Short-tern indicators mildly negative and will probably react with crude prices.


Here is the current market situation from CNN Money

North and South American markets are mixed. The Bovespa is higher by 3.07%, while the IPC is leading the S&P 500 lower. They are down 0.63% and 0.07% respectively.

What Is Moving the Markets

Here are the headlines moving the markets.

Wall Street recovers as Facebook, M&A cushion BOJ shock

(Reuters) - The Nasdaq rose on Tuesday as strong results from Facebook and a flurry of dealmaking helped offset the impact of the Bank of Japan's surprising decision to hold off from expanding monetary stimulus.

U.S. economy stalls in first quarter as activity weakens broadly

WASHINGTON (Reuters) - U.S. economic growth braked sharply in the first quarter to its slowest pace in two years as consumer spending softened and a strong dollar continued to undercut exports, but a pick-up in activity is anticipated given a buoyant labor market.

Warren Buffett's shareholder gala enters home stretch

NEW YORK (Reuters) - Warren Buffett, who pitched newspapers as a teenage delivery boy, may be entering the final stretch of his "Woodstock for Capitalists," after cutting back his involvement in the event and opening it up for an online audience.

Comcast to buy DreamWorks Animation for $3.8 billion

(Reuters) - Comcast Corp, the owner of NBCUniversal, said on Thursday it would buy Hollywood movie studio DreamWorks Animation SKG Inc for $3.8 billion to boost its family-friendly offerings and help it take on No. 1 player Walt Disney. Comcast's acquisition of DreamWorks Animation will add to Universal's film library major childrens' franchises such as "Shrek" and "Kung Fu Panda," which it could tap for its theme parks and consumer products businesses.

Truck sales drive record results at Ford; shares up

DETROIT (Reuters) - Ford Motor Co reported first-quarter net income that more than doubled thanks to robust deliveries of pickup trucks in North America and a profit rebound in Europe, but cautioned that results in the second half of the year would likely not be as strong.

Credit Suisse boss Thiam must show turnaround plan on track

LONDON/ZURICH (Reuters) - Credit Suisse investors want answers from CEO Tidjane Thiam about his turnaround plan in the wake of $1 billion of unexpected trading writedowns at the bank, which has lost more than a third of its value since he joined 10 months ago.

Abbott to buy St. Jude for $25 billion to boost heart devices

(Reuters) - Abbott Laboratories said on Thursday that it would buy St. Jude Medical Inc in a $25 billion deal to expand its heart device business, but investors worried that the acquisition would not pay off as promised.

VW sees light at end of tunnel after U.S. emissions deal

WOLFSBURG, Germany (Reuters) - Volkswagen , battling to rebuild its reputation following a scandal over rigged emissions tests, said on Thursday it could see light at the end of the tunnel following a deal with U.S. authorities last week.

Bombardier gains traction with big Delta order for CSeries jets

MONTREAL/ATLANTA (Reuters) - Bombardier Inc won a major order for its new CSeries passenger jets from Delta Air Lines on Thursday, potentially boosting the Canadian manufacturer's stature in global markets as it struggles to return to profitability.

Volume Collapses As China Commodity Exchanges Ordered To "Curb Speculation"

We have been warning about China's speculative commodity trading bubble - spewing false signals around the world about the strength of the real economy - and now, as we suggested previously, Chinese authorities have decided to burst yet another bubble they created.Reuters reports that China's Securities regulator has ordered three major commodity exchanges to "control intraday speculation in commodity markets," ordering them to "curb trading for investors with no commodity industry background." Volume has crashed... and just as it did in the equity markets, price will follow.

As Reuters reports, China's securities regulator ordered the country's major commodity futures exchanges this week to control speculative trading activity, sources told Reuters, after a surge in prices sparked fears of a boom-and-bust cycle.

In response, commodity futures exchanges in Dalian, Shanghai and Zhengzhou ordered major institutional investors that lack a commodities background to rein in their trading, three people with direct knowledge of the situation said. The sources didn't define what was meant by a lack of background in commodities.

Analysts said speculators have been betting that government plans for more infrastructure spending and signs of a pick up in the economy would fuel more demand for commodities.

Others suggested commodities futures markets were the only place left for speculators to make quick profits given weakness in stocks, bonds and housing.

The result...Party's Over!

Valeant: Swapping Scandal for Growing Pains

Investors will need patience as Valeant cleans house.

Facebook Results: Investors Like Living in Zuckerberg's World

Facebook's new class of shares is a reminder of Mark Zuckerberg's control, but the company's strong results mean investors don't mind.

Why the Bank of Japan Held Fire for Another Day

The Bank of Japan's lack of action caught markets by surprise. But that doesn't mean it is done easing.

Ford's F-150 bet pays off again

The redesigned truck, now in plenty supply, helps to boost Ford results.

The Tell: Could Comcast's $3.8 billion DreamWorks deal be a mistake?

Comcast Corp. said on Thursday it reached an agreement to buy DreamWorks Animation, just two days after reports surfaced, in a deal valuing the family entertainment company at $3.8 billion.

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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