econintersect .com

FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.

04May2016 Market Close: Markets Closed Down For Second Session, Lukewarm Jobs Data, Weak Company Reporting Keeps Investors Away And Persistent Bearish Data Suggests Another Down Day Tomorrow

Written by Gary

Markets closed down with the DOW down 100 points, Spooze down 0.6% and crude settling in the high 43's. Weighed down by tepid data on private sector U.S. jobs, weaker-than-expected results from companies including Priceline, the major averages took it on the chin for the second day. Short-term indicators are modestly bearish.

Todays S&P 500 Chart

The Market in Perspective

Here are the headlines moving the markets.

Wall St. falls for second day as tepid data weighs

NEW YORK (Reuters) - U.S. stocks declined for a second day on Wednesday, weighed down by tepid data on private sector U.S. jobs and a retreat in biotech shares.

Strong U.S. services sector data buoys economic outlook

WASHINGTON (Reuters) - The U.S. services sector expanded in April as new orders and employment accelerated, bolstering views that economic growth would rebound after almost stalling in the first quarter.

Amazon, Hyatt named top picks at hedge-fund event

NEW YORK (Reuters) - Larry Robbins and other prominent hedge fund managers speaking at an industry conference on Wednesday laid out some of their best ideas, but their stock picks, including Inc and Hyatt Hotels Corp , barely reacted to the endorsements.

U.S., Takata confirm recall of 35 million-40 million Takata air bag inflators

(Reuters) - The U.S. Transportation Department and Takata Corp confirmed on Wednesday that automakers will recall another 35 million to 40 million U.S. air bag inflators assembled by the Japanese manufacturer by 2019.

Two Tesla executives leaving ahead of Model 3 ramp-up

SAN FRANCISCO (Reuters) - Two top manufacturing executives are leaving Tesla Motors Inc as the Silicon Valley electric-car maker prepares to launch its first mass-market car, the Model 3, and sharply ramp up production.

Exclusive: Big data breaches found at major email services - expert

FRANKFURT (Reuters) - Hundreds of millions of hacked user names and passwords for email accounts and other websites are being traded in Russia's criminal underworld, a security expert told Reuters.

Exclusive: Target gets tough with vendors to speed up supply chain

CHICAGO (Reuters) - Discount retailer Target Corp is cracking down on suppliers as part of a multi-billion dollar overhaul to speed up its supply chain and better compete with rivals including Wal-Mart Stores Inc and Inc .

Time Warner profit beats expectations, boosted by Turner, HBO

(Reuters) - Time Warner Inc reported higher-than-expected earnings on Wednesday on strong revenue from its HBO cable channel and Turner Broadcasting unit.

Wells Fargo's 'criticized' loans rise 62 percent, driven by energy

(Reuters) - Wells Fargo & Co saw a 62-percent increase in commercial and industrial loans that regulators have classified as "criticized," according to its first-quarter regulatory financial filing released on Wednesday.

Stocks Slump, Dollar Jumps After China Sends Message To Fed

But but but Tim Cook said AAPL was "optimistic" about China!!!

China started the shenanigans by devaluing the Yuan fix by the most since the August collapse...sending a loud and clear message to The Fed - if you normalize rates (and strengthen the USD) we will unleash 'wealth-destroying' volatility...

European stocks stumbled once again as Italian bank risks surge...

"Most Shorted" stocks fell for the 2nd day in a row - the biggest 2-day drop in 3 months...

Trannies & Small caps bearing the brunt of the most shorted weakness...

With Nasdaq leading the way (down over 6% ...

Eight "New Normal" Charts That Are Insanely Abnormal (And Dangerous)

Submitted by Charles Hugh-Smith of OfTwoMinds blog,

Is there anyone on the planet who's actually stupid enough to believe these New Normal charts are healthy and sustainable?

Anyone questioning the sustainability and rightness of The New Normal is immediately attacked by the mainstream-media defenders of the crumbling status quo. Not only is everything that broke in 2008 fixed, everything's going great globally, and anyone who dares question this narrative in a tin-foil hat conspiracy nut or simply an annoyingly doom-and-gloomer who recalcitrantly refuses to accept the positive glories of official statistics: low unemployment, rising valuations of stock market Unicorns, etc.

But the New Normal is anything but normal; all the readings of artificial life-support and manipulation are off the charts. If the New Normal were indeed a return to normalcy, we'd see a rapid and sustained decline in official life-support of the economy.

Instead, we see official life-support efforts rising to new and dangerous levels. The only reason stocks are at nose-bleed valuations globally is massive, sustained intervention on multiple levels.

We also see increasing dependence on debt to sustain increasingly weak growth. The New Normal is all about diminishing returns on additional debt.

The New Normal is also about the loss of institutional credibility. The Federal Reserve denies it makes policy decisions based on the stock market, but as soon as stocks start tumbling, the Fed's leadership hits the airwaves with a media blitzkrieg, frantically assuring the world that the Fed will do "whatever it takes" to keep stocks at absurdly overvalued levels forever.

It once cost the equivalent of a new auto to ...

CBS and Time Warner: Fitting Into Skinny Bundles

The future of pay TV is smaller bundles of channels "even the owners of the channels are acknowledging as much. But even if Big Media is trying to embrace the trend of the so-called skinny bundle, it will mean leaner times for some.

GoPro: The Bottom Isn't Coming Into Focus

GoPro hasn't come close to achieving mainstream popularity, a flaw that will be exposed in its first-quarter results on Thursday.

Putting the Squeeze on Profits

Low productivity is cutting into companies' profit margins. It's a problem that they helped sow.

In China, Apple isn't the only iPhone maker in town

Apple loses exclusivity in China for use of the term 'iPhone'

The Sniff Test: Priceline investors are being fooled again

Priceline's stock tumbles, as investors appear to keep forgetting the online travel services company's tactic of under promising so it can easily over deliver.

Summary of Economic Releases this Week

Real Time Economic Calendar provided by

Earnings Summary for Today

Earnings Calendar provided by

leading Stock Positions

Leading Stock Quotes powered by

Current Commodity Prices

Commodities are powered by

Current Currency Crosses

The Forex Quotes are powered by

To contact me with questions, comments or constructive criticism is always encouraged and appreciated:

Click here for Historical Releases Listing

Make a Comment

Econintersect wants your comments, data and opinion on the articles posted. You can also comment using Facebook directly using he comment block below.

Econintersect Live Market

Print this page or create a PDF file of this page
Print Friendly and PDF

The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.

Keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Middle East / Africa
USA Government

 navigate econintersect .com


Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day


Asia / Pacific
Middle East / Africa
USA Government

RSS Feeds / Social Media

Combined Econintersect Feed

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution



  Top Economics Site Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2018 Econintersect LLC - all rights reserved