Markets closed down but off the session lows, gaining 50% of the losses. WTI crude also mimicked the Equities settling in the high 45's. The US dollar traded sideways along its support and may be the bottom of its fall. SPY is supposed to decline more next week and then rally up to previous highs.
SAN FRANCISCO (Reuters) - Apple was set on Friday to have its worst week on the stock market since 2013, as worries festered about a slowdown in iPhone sales and after influential shareholder Carl Icahn revealed he sold his entire stake.
HOUSTON (Reuters) - Exxon Mobil Corp and Chevron Corpon Friday reported their most dismal quarterly results in more than a decade on low oil prices and an oversupplied fuel market that hurt what had been lucrative refining margins.
WASHINGTON (Reuters) - U.S. inflation barely rose in March as consumer spending remained tepid, making it less likely that the Federal Reserve will be able to follow through on its projected two interest rate increases this year.
(Reuters) - Yahoo Inc has shortlisted close to 10 bidders in the auction for its core Internet assets, including Verizon Communications Inc, with most offers involving cash rather than a combination with another company, according to people familiar with the matter.
FRANKFURT/BERLIN (Reuters) - Frustrated with the pace of reform at Volkswagen, shareholder Qatar has asked the carmaker for a seat on the company's executive committee, a request that has met with substantial opposition, two sources familiar with the matter said on Friday.
PARIS (Reuters) - Sanofi and its takeover target Medivation dug in for trench warfare on Friday, with the French drugmaker confident of winning over investors and the U.S. cancer firm insisting it was better off staying independent.
WASHINGTON (Reuters) - Nissan Motor Co Ltd said on Friday it will recall 3.53 million vehicles, most in the United States, citing passenger-side air bags that may not work properly because vehicle sensors may malfunction.
Over the years, Zero Hedge has proven to be a magnet for media attention.
It started years ago with a NY Magazine article published in September 2009 which first "unmasked" the people behind Zero Hedge with the "The Dow Zero Insurgency: The nothing-can-be-believed chaos of the financial crisis created a golden opportunity for a blog run by a mysterious ex-hedge-funder with a dodgy past and conspiracy theories to burn" in which we were presented as a bunch of "conspiracy theory" tin foil hat paranoid loons.
We are ok with being typecast as "conspiracy theorists" as these "theories" tend to become "conspiracy fact" months to years later.
Others, such as "academics who defend Wall Street to reap rewards" had taken on a different approach, accusing the website of being a "Russian information operation", supporting pro-Russian interests, which allegedly involved KGB and even Putin ties, simply because we refused to follow the pro-US script. We are certainly ok with being the object of other's conspiracy theories, in this case completely false ones since we have never been in contact with anyone in Russia, or the US, or any government for that matter. We have also never accepted a dollar of outside funding from either public or private organization - we have prided ourselves in our financial independence because we have been profitable since inception.
Which brings us to the latest "outing" of Zero Hedge, this time from none other than Bloomberg which this morning leads with "Unmasking the Men Behind Zero Hedge, Wall Street's Renegade Blog" in which it makes the tacit admission that ...
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