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.



30Jun2016 Market Close: US Markets Close Higher, DOW Up Triple Digits, SP 500 Can't Make The 2100 Level, Indicators Remain Bullish

Written by Gary

US markets closed with a burst of green during the last minute of today's session. The DOW closed up 235 points, SPY closed up +1.4% and WTI closed down in the low 48's continuing a session downtrend. Short-term indicators remain the same as yesterday, mildly bullish, but the SP500 closed below 2100, the all-important level to continue this rally.

Todays S&P 500 Chart

The Market in Perspective

Here are the headlines moving the markets.

Wall Street rallies for third straight day

NEW YORK (Reuters) - Wall Street rolled to a third straight day of gains on Thursday as Britain's central bank raised the prospect of stimulus and consumer staples shares gained on news of Mondelez International's $23 billion bid for Hershey.

Hershey rejects $23 billion Mondelez takeover offer

(Reuters) - Hershey Co said on Thursday it had rejected a $23 billion preliminary offer by Mondelez International Inc that would seek to expand the latter's limited U.S. footprint and create the world's largest confectioner.

U.S. data offers hope for manufacturing; jobs market steady

WASHINGTON (Reuters) - Factory activity in the U.S. Midwest surged to its highest in almost 1-1/2 years in June amid strong gains in new orders and production, offering a ray of hope for the downtrodden manufacturing sector.

Volkswagen believes it can fix 85,000 polluting U.S. vehicles

SAN FRANCISCO/WASHINGTON (Reuters) - A lawyer for Volkswagen AG said at a court hearing Thursday the German automaker believed it could fix 85,000 polluting 3.0-liter VW, Audi and Porsche diesel cars and SUVs, a move that could help the company avoid a second pricey buyback.

S&P cuts rating on EU to 'AA' after Brexit

(Reuters) - Standard & Poor's Global Ratings said on Thursday it had cut its long-term credit rating on the European Union to 'AA' from 'AA+' but raised its outlook to "stable" from "negative" after the United Kingdom voted to leave the bloc.

Google's Schmidt says Brexit vote unlikely to shift investment

PARIS (Reuters) - Google boss Eric Schmidt said on Thursday that Britain's referendum vote to leave the European Union was unlikely to lead to a shift in the U.S. tech giant's business activities.

Commerzbank to cut over 100 jobs in New York

FRANKFURT (Reuters) - German bank Commerzbank is to cut more than 100 jobs in its New York office as it streamlines certain operations in order to focus more on investment banking, an executive said.

U.S. calls for urgent repairs of 300,000 recalled Honda vehicles

WASHINGTON (Reuters) - U.S. auto safety regulators warned on Thursday that Takata air bag inflators on more than 300,000 unrepaired recalled Honda vehicles show a substantial risk of rupturing, and urged owners to stop driving the "unsafe" cars until they have been fixed.

Bank of England's Carney sees need for summer stimulus after Brexit shock

LONDON (Reuters) - Bank of England Governor Mark Carney said the central bank would probably need to pump more stimulus into Britain's economy over the summer after the shock of last week's decision by voters to leave the European Union.

Italy Granted "Extraordinary " 150BN Bank Bailout Program To Prevent "Panic, Run On Deposits"

As we noted today, the rumors of an Italian bank bailout, which started on Monday morning, and were promptly shot down by Merkel the next day, got louder today after a Reuters report that the government is considering more creative ways to inject liquidity into Italy's banks. However that was just an appetizer to a main course, which came later today when as the WSJ reported citing a spokeswoman for the European Union's executive arm that the "European Commission has authorized Italy to use government guarantees to create a precautionary liquidity support program for their banks."

How did this happen so quietly under the table and without Merkel's blessing? WSJ says that the program was approved under the bloc's "extraordinary crisis rules for state aid."

And here we thought that Italy's banks are actually doing so very well. Oh wait, no we didn't.

As the WSJ notes, the proposed "crisis" plan is the "other leg of an intervention plan considered by the government" namely, the direct capital injection into Italian banks that would add up to 40 billion in capital to the banking sector", the one we profiled previously. It is also the plan that Merkel supposedly shut down before it got off the ground. However, Europe had a Plan B up its sleeve.

Brexit, the Pound and Stock Prices: A Volatile Mix

Sterling is the swing factor for investors. It may yet fall further to help the U.K. economy to adjust.

Lions Gate's Latest Deal May Be Starz-Crossed

Lions Gate's deal for Starz comes with financial benefits, but it may not solve either company's strategic challenges.

Why Old Friend Must Lead UniCredit Down Hard Road

Italy's biggest lender has bought back its former investment bank chief to become CEO, he now needs to act like a ruthless outsider.

The Wall Street Journal: ChristianMingle opens doors to gay singles

ChristianMingle's parent Spark Networks has been mandated by a court to open its doors to gay singles.

Medill News Service: Obama's top trade negotiator pushes Pacific Rim deal that Trump calls a 'rape'

The lead negotiator for President Obama has intensified efforts to persuade a skeptical Congress to pass a divisive free-trade agreement with Pacific Rim countries, a deal that Donald Trump this week called "a continuing rape of our country."

Bond Report: Treasury yields post second straight quarterly decline

Treasury prices rose for a second quarter in a row, pushing yields to the lowest levels in years as geopolitical events and concerns over sluggish global economy pushed investors into safe assets such as government bonds

Summary of Economic Releases this Week

Real Time Economic Calendar provided by Investing.com.

Earnings Summary for Today

Earnings Calendar provided by Investing.com.

leading Stock Positions

Leading Stock Quotes powered by Investing.com

Current Commodity Prices


Commodities are powered by Investing.com

Current Currency Crosses

The Forex Quotes are powered by Investing.com.



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

gary@econintersect.com

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

search_box

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 Econintersect.com
Main Home
Analysis Blog
The Expected Effects of Petitions to Improve the Monetary System
Energy and Falling Productivity
News Blog
Most Read Articles Last Week Ending 24 September
How Britain Owes Its Immigrants A Debt Of Gratitude
Super Mario, The Timeless Bestseller
Explainer: The Nine Swing States That Will Decide The Next US President
How Long Does Apple Support Older IPhone Models
What We Read Today 25 September 2016
Dangerous Ultra Pure Water
Job Employment Tenure Down
Mobile Payments Promise To Improve Financial Accessibility In Mexico
Aging Populations May Mean Lower Economic Growth
Urban Rebound Causes Large Shift In Lower Credit Borrowers To Seek The Outer Suburbs
Infographic Of The Day: How Oil Is Formed
Early Headlines: Japan Needs Fed Hike, Mexico Tanker Ablaze, 1.5C Limit Within 10 Yrs, Africa's Growth Problems, Did US Destroy Syria Truce?, Merkel: No Help For DB And More
Investing Blog
Monday Morning Call 26 September
We're Back Here We Started
Opinion Blog
Heading For A Fall? With Summer Over, Europe Must Face Up To Its Mounting Crises
What If We're In A Depression But Don't Know It?
Precious Metals Blog
War On Cash Turns To $20, $50, And $100 Bills
Live Markets
23Sep2016 Market Close: US Indexes Close Lower As Crude Prices Slip, Fed Lowers Economic Growth Prospects, Indicators Melting Into Bearish Territory
Amazon Books & More






.... and keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government



Crowdfunding ....






























 navigate econintersect.com

Blogs

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

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com 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