US stock future indexes are fractionally higher (SPY +0.4%), WTI crude Is trading sideways in the mid 43's and the US dollar is trending upward. The SP500 was higher overnight as it consolidates some of the decline off April's high. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Markets are expected to open fractionally higher.
Here is the current market situation from CNN Money
European markets are higher today with shares in Germany leading the region. The DAX is up 0.48% while France's CAC 40 is up 0.44% and London's FTSE 100 is up 0.30%.
MOSCOW (Reuters) - Internal differences are killing OPEC and its ability to influence the markets has all but evaporated, top Russian oil executive Igor Sechin told Reuters in some of his harshest remarks ever about the oil cartel.
NEW YORK (Reuters) - Federal authorities are investigating the market-making arms of Citadel LLC and KCG Holdings Inc, looking into the possibility that the two giants of electronic trading are giving small investors a poor deal when executing stock transactions on their behalf.
(Reuters) - SWIFT has rejected allegations by officials in Bangladesh that technicians with the global messaging system made the nation's central bank more vulnerable to hacking before an $81 million cyber heist in February.
DHAHRAN, Saudi Arabia (Reuters) - Saudi Arabia's state-owned oil giant is finalizing options for its partial privatisation and will present them to its Supreme Council soon, its chief executive said about the centerpiece of the kingdom's efforts to overhaul its economy.
(Reuters) - Allergan Plc , whose $160 billion merger with Pfizer Inc fell apart last month, reported a better-than-expected quarterly profit on Tuesday, led by strong sales of wrinkle treatment Botox and eye drug Restasis.
LONDON (Reuters) - Oil rose on Tuesday, boosted by supply disruptions in Canada and elsewhere that have knocked out 2.5 million barrels of daily production and temporarily eclipsed concern over high global inventories and a looming surplus of refined products.
LONDON (Reuters) - World stock markets rose on Tuesday, helped by solid corporate earnings in Europe, progress on Greek debt talks, and a new pledge by Japan that it was prepared to weaken its currency.
(Reuters) - Medivation Inc will actively seek to sell itself after the US cancer drug maker rejected a $9.3 billion takeover offer from France's Sanofi SA , according to people familiar with the situation.
Submitted by Charles Hugh-Smith of OfTwoMinds blog,
The promises made when there were 7 workers for every retiree cannot be kept when there are only 2 workers for every retiree.
In an auto-mechanic analogy, the Powers That be are assuring us those grinding noises under the hood and the black smoke chugging out of the tailpipe are no big deal and can be fixed with a minor tuneup. They're wrong; we need a total overhaul to avoid a total system breakdown.
The grinding noises and black smoke are telling us the engine of our economy is on its last legs. The Powers That Be (Federal Reserve, government at all levels, mainstream corporate media, etc.) have been masking the need for an overhaul with trickery for the past seven years, the financial equivalent of using heavy oil and spray-painting the battery to make it look new.
With the tranny and top end about to blow, the Status Quo keeps claiming everything's running great and the new set of sparkplugs and minor valve adjustment (i.e. zero-interest rate policy and more banking regulations) have restored the economy to top performance.
It's all lies, fantasy and propaganda. Nothing has been fixed. Automation has just started devouring human labor/jobs, corporate profits have peaked, the trick of pushing the stock market higher by borrowing money to buy back shares is finally falling apart, the trends of wealth and income inequality are roaring ahead full steam, and our entire system of taxation, entitlements and debt is about to blow up.
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