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.

18May2016 Market Update: Wall Street Awaits FOMC Minutes, A Volatile Reaction Is Expected, Crude Prices Climbing And Indicators Are Bearish

Written by Gary

US markets have melted up into the green ahead of the FOMC minutes being released at 2 pm today. The DOW is in the 20's and trading sideways in an exaggerated sea-saw action. Crude has climbed higher, is very volatile and is threatening to climb even higher. The US dollar is trading in the high 94's, but hasn't shown any move to the upside. Short-term indicators remain mildly bearish at this time.

Here is the current market situation from CNN Money

North and South American markets are mixed today. The Bovespa is up 0.74% while the S&P 500 gains 0.22%. The IPC is off 0.56%.

What Is Moving the Markets

Here are the headlines moving the markets.

Wall Street turns higher as bank stocks offset retail shares

(Reuters) - Wall Street reversed course to trade slightly higher on Wednesday as the prospect of higher interest rates sent financial stocks up, offsetting a fall in retail shares.

Ex-JPMorgan, Citi FX sales employees sue banks

LONDON (Reuters) - A former London-based JPMorgan foreign exchange sales person is suing the Wall Street bank for unfair dismissal, according to a court filing released on Wednesday.

Target sales miss estimates; shares sink

CHICAGO (Reuters) - Target Corp on Wednesday reported a lower-than-expected increase in quarterly sales at established stores and gave a cautious outlook for the current period, citing volatile weather and weaker demand for electronics and groceries.

Suzuki says it used wrong fuel economy tests in Japan

TOKYO (Reuters) - Suzuki Motor Corp used the wrong methods to test the fuel economy of its cars in Japan, it said on Wednesday, widening a testing scandal that has already rocked smaller rival Mitsubishi Motors Corp .

Microsoft to sell feature phone business to Foxconn subsidiary, HMD Global

(Reuters) - Microsoft Corp said it is selling its entry-level feature phone assets to FIH Mobile Ltd and HMD Global Oy for $350 million.

South Korea's Hotel Lotte plans $4.9 billion IPO, year's largest: sources

SEOUL (Reuters) - South Korea's Hotel Lotte Co Ltd [HTLOT.UL] plans a share sale worth up to 5.7 trillion won ($4.85 billion) next month, sources said on Wednesday, in what would be the world's biggest initial public offering since late 2015.

Best friends? Anglo keeps De Beers' diamonds

ANTWERP (Reuters) - Mining group Anglo American has retained De Beers as a prize asset after a radical overhaul in the belief that surging Chinese and Indian demand for diamonds will outstrip dwindling supply even after a 2015 crunch.

Oil advances on U.S. refined fuel drawdown; Brent near $50 per barrel

NEW YORK (Reuters) - Oil prices rose about 1 percent on Wednesday, hitting new 2016 highs, as the market focused on large drawdowns in U.S. refined fuel inventories and ignored a surprise build in crude stockpiles.

Some NYSE trades rerouted after technical issue

NEW YORK (Reuters) - The New York Stock Exchange on Wednesday said it was experiencing a critical technical issue that sent trading to other exchange venues in a subset of ticker symbols.

WTF Chart Of The Day: 'Broken Markets' Edition

Presented with no comment... ok one word - "seriously!"

Because there's only one way to stop markets falling... stop people trading!!

2 NYSE "glitches" and 2 US equity market ramps...

Source: NYSE

Pure coincidence we are sure.

Why Some Frackers Look Good After the Oil Bust

Oil-and-gas frackers destroyed a lot of wealth but aren't hopeless cases going forward.

The Rate Debate: Inflation Says Go, Markets Say Stop

Inflation has firmed to the point that the Federal Reserve can be more comfortable about raising rates again. But investors aren't there yet.

Japan GDP Rebound Not Enough to Stave Off Stimulus

Japan's underlying economic trend remains too choppy for the government to sit idly by.

London Markets: FTSE 100 slips as Burberry earnings, U.S. rate-hike prospects weigh

U.K. stocks end barely lower as investors react to renewed prospects for a June rate hike in the U.S.

In One Chart: 5 workers who will benefit most from new overtime rules

More than 4 million workers may benefit from the new overtime pay rules.

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.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, using Livefyre just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.

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.

Take a look at what is going on inside of
Main Home
Analysis Blog
Taking a Wrench to Healthcare
Rising Tide Does Not Lift All Ships
News Blog
Acupuncture Is Useless
September 2016 CFNAI Super Index Moving Average Declines
Consequences Of Rising Income Inequality
America's Most Competitive Renters: Why Many Are Choosing To Rent
Historical Echoes: The Bank Teller Action Figure, Or It's All In The Packaging
Infographic Of The Day: The Oil Market Is Bigger Than All Metal Markets Combined
U.S. 2016 Election Divides Advanced And Emerging Economies
Which Countries Read The Most
The World's Most Expensive Retail Locations
How To Help Energy Demand Match Renewable Supply
Music Subscriptions Revive Revenue
How The Space Station Avoids Junk In Space
Infographic Of The Day: The Most Popular Jobs In A Decade
Investing Blog
FinTech Is Taking A Bite Out Of Banks
Options Early Assignment - Should You Worry?
Opinion Blog
The Beer Goggles Stock Market
US 2016 Election: Will US-China Relations Change
Precious Metals Blog
Preparing For Post-Election Social Unrest
Live Markets
24Oct2016 Market Close: Wall Street Closes Higher, Quietly On Low Volume, Crude Back Up, US Dollar Trading At Resistance, Investors Remain Skeptical On Continuing Bullish Market
Amazon Books & More

.... and 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

Crowdfunding ....



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 - 2016 Econintersect LLC - all rights reserved