US markets opened higher but have remained below the historic highs set in the previous sessions. Oil prices fell more than 1 percent on Monday after rising stockpiles of crude and refined fuel intensified fears of another major glut building. US dollar which is expected to fall this week has traded sideways in a volatile fashion.
Here is the current market situation from CNN Money
North and South American markets are broadly higher today with shares in Brazil leading the region. The Bovespa is up 1.20% while Mexico's IPC is up 0.58% and U.S.'s S&P 500 is up 0.24%.
$NYA200R chart below is the percentage of stocks above the 200 DMA and is always a good statistic to follow. It can depict a trend of declining equities which is always troubling, especially when it drops below 60% - 55%. Following a major market correction, the conditions for safe re-entry are when:
a) Daily $OEXA200R rises above 65%
Secondary Bullish Indicators:
a) RSI is POSITIVE (above 50)
b) Slow STO is POSITIVE (black line above red line)
c) MACD is POSITIVE (black line above red line)
(Reuters) - Wall Street eked out gains on Monday as Bank of America's better-than-expected profit boosted optimism about the U.S. quarterly earnings season, but not by enough to send the Dow and the S&P 500 to fresh highs.
(Reuters) - Bank of America Corp reported a 19-percent drop in second-quarter profit on Monday and set a new expense target as growth in businesses from lending to trading failed to offset the impact of persistently low interest rates.
TOKYO/LONDON (Reuters) - Japan's SoftBank will buy Britain's most valuable technology company ARM for $32 billion in cash, an audacious attempt to lead the next wave of digital innovation with a chip designer that powers the global mobile phone industry.
SAN FRANCISCO (Reuters) - Uber has completed more than 2 billion trips on its app, the company's chief executive said on Monday, a milestone that arrives just weeks after the ride service added another $4.7 billion to its warchest.
MELBOURNE (Reuters) - ExxonMobil Corp has made a bid worth at least $2.2 billion for InterOil Corp and its stake in a rich Papua New Guinea gasfield, winning the support of its target and topping an offer from Australia's Oil Search Ltd.
ZURICH (Reuters) - FIFA, which has struggled to find commercial partners since it was battered by a corruption scandal last year, named a Russian bank as the first of up to 20 regional World Cup sponsors on Monday.
Less than a week after a Hague tribunal found that China has no territorial rights in the South China Sea, contrary to Beijing's "Nine Dash Line" claims, China has made it abundantly clear that it will no comply with the ruling when overnight a senior Chinese admiral said that Freedom of navigation patrols carried out by foreign navies in the South China Sea could end "in disaster" while also announcing the unexpected start of navy drills in the contested waters, in the most direct warning to the United States yet.
According to AP, Hainan's maritime administration said an area southeast of the island province would be closed from Monday to Thursday, but gave no details about the nature of the exercises. The announcement came during a three-day visit to China by US Chief of Naval Operations Admiral John Richardson to discuss the South China Sea dispute and ways to increase interaction between the two militaries, which continue to have a tense relationship.
Chinese missile frigate Yuncheng launches an anti-ship missile during a military exercise
in the waters near south China's Hainan Island and Paracel Islands, July 8, 2016
Further provoking a US response, Beijing also stated that it would not halt the construct ...
In the aftermath of last Thursday's tragic truck attack in Nice, France which killed 84 and injured hundreds, public opinion turned even more sour on the country's increasingly unpopular Prime Minister Manuel Valls, who said that "times have changed, and France is going to have to live with terrorism, and we must face this together and show our collective sang-froid", a statement which many took as an admission of defeat toward the terrorist threat sweeping across France in particular, and Europe in general.
The French resentment toward its Prime Minister was on full display again today, when Valls was loudly booed at memorial service to remember the victims of the Nice terror attack. The prime minister attended the service alongside the Mayor of Nice, Philippe Pradal, the regional president Christian Estrosi and the reigning prince of nearby Monaco, Prince Albert.
Valls was booed as he went to sign the book of condolence at the memorial service on the Promenade des Anglais. "Resignation!" "Murderers" was shouted by the crowds before and after the ceremony. Others shouted "You're not wanted here!" and "You are the terrorist!" ahead of the one minute of silence that thousands observed.
While the crowd was furious with Valls, it cheered to celebrate the work of the emergency services, who were applauded with shouts of "Thank you firefighters!" They broke in applause and raised their fists in the air when they heard the French national anthem.
Tensions are running high over the French government's handling of security in the country when it was revealed Mr Estrosi's request for more security at ...
Netflix Inc. is set to report its second-quarter earnings after the market closes on Monday. The Los Gatos, Calif., company has had a rocky couple of months as investors focus in on its growth potential in the U.S. and overseas.
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