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.



28Jul2016 Market Close: US Markets Close Mostly In The Green, Texas Tea Might See A 39 Handle Tomorrow As The US Dollar Settles In The High 96's

Written by Gary

US markets closed most up with the DOW in the red and flat. The small caps fared better closing up 0.4% and the US dollar index fell to a near two-week low at 96.25 this morning before rallying slightly to 96.75 in U.S. afternoon trading. WTI crude could see a $39 handle by tomorrow as its relentless July slide continues, off another 1.9% today to $41.05 per barrel.

Todays S&P 500 Chart

The Market in Perspective

Here are the headlines moving the markets.

Wall St. mixed as tech titans tee up quarterly reports

(Reuters) - Wall Street was mixed on Thursday as investors fretted about disappointing earnings from Ford and awaited quarterly scorecards from technology heavyweights Alphabet and Amazon.com.

U.S. jobless claims rise; labor market still strong

WASHINGTON (Reuters) - The number of Americans filing for unemployment benefits rose more than expected last week, but the underlying trend continued to point to sustained labor market strength. Initial claims for state unemployment benefits increased 14,000 to a seasonally adjusted 266,000 for the week ended July 23, the Labor Department said on Thursday. Claims for the prior week were revised to show 1,000 fewer applications received than previously reported.

Facebook shares hit record high as it beats estimates again

(Reuters) - Facebook Inc is growing so fast that analysts can't keep up.

Judge rejects Sumner Redstone bid to end Viacom CEO lawsuit

(Reuters) - A Massachusetts judge on Thursday rejected Sumner Redstone's bid to quickly end a case that will likely determine the future of the media mogul's holdings and set an October trial date, marking a victory for Viacom Inc Chief Executive Philippe Dauman.

Vivendi considers suing Mediaset for defamation: spokeswoman

PARIS (Reuters) - French media giant Vivendi is considering suing Mediaset for defamation after the Italian broadcaster denounced what it sees as an unacceptable u-turn on a deal regarding its pay-TV arm Premium.

Whole Foods slides as price cuts fail to impress

(Reuters) - Whole Foods Market Inc's shares plunged on Thursday as the company's efforts to position itself as a competitively priced grocer yielded little results in the third quarter.

Lackluster U.S., China sales drag on Ford Motor profit; shares tumble

DETROIT (Reuters) - Ford Motor Co reported weaker-than-expected profit in the second quarter and declared that the U.S. auto industry's long recovery was at an end, sending its stock and those of other auto companies tumbling on Thursday.

Oracle to buy NetSuite for $9.3 billion to gain cloud computing clout

(Reuters) - Business software maker Oracle Corp said on Thursday it would buy NetSuite Inc for about $9.3 billion in cash, a deal designed to help Oracle gain market share in the fast-growing cloud computing business.

Despite dieselgate, VW becomes top-selling carmaker as Toyota slips

TOKYO/BERLIN (Reuters) - Toyota Motor Corp reported a drop in first-half vehicle sales on Thursday following a series of production stoppages, falling behind Volkswagen which became the world's top-selling carmaker in the first six months of 2016 despite its emissions scandal.

With All Eyes On Tonight's BOJ Announcement, A "Minor" Snag Emerges

With all eyes on the BOJ's decision in several hours, an announcement which is expected to contain some component of government deficit funding attached to it, or helicopter-lite, a "minor" snag has emerged in what Japan has affectionately titled the "emergency, peace of mind realization, overall spending measures" fiscal package...

Best name ever for a stimulus package #Japan

???????????

emergency, peace of mind realization, overall spending measures

via @JDMayger

— Andy Sharp (@sharp_writing) July 28, 2016

... namely that only about a quarter of the total JPY 28 trillion in new stimulus is in the form of actual spending... assuming of course one would call JPY 7 trillion "minor."

As Bloomberg reports, "about one quarter of Japanese Prime Minister Shinzo Abe's new 28 trillion yen ($267 billion) economic stimulus includes actual spending, according to a person familiar with the matter."

The person, who asked not to be named as the discussions are private, didn't specify the period of time over which the 7 trillion yen would be spent. The money will be part of 13 trillion yen of "fiscal measures," with the rest of that sum covered by so-called zaito financing that's used to raise money for projects at state-run companies, according to the person. The remaining 15 trillion yen in Abe's total package is unclear; he has yet ...

Monte Paschi Bailout In Peril As 3 Banks Walk Out: Are More "Pensioner Suicides" Next?

Two days ago we reported that in a last ditch effort to prevent potential contagion within its banking system, one including bank runs and furious ordinary investors and depositors, ahead of Friday's stress test announcement which Italy's troubled Monte Paschi is widely expected to fail, Matteo Renzi's government was racing to organize a private bailout of the insolvent bank. Specifically, as of Monday night, the Italian government was, according to the FT, racing to secure a privately backed bailout of Monte dei Paschi di Siena, including a plan to raise 5 billion of fresh capital so as to avert nationalisation.

There was no assurance this last ditch effort would succeed, especially in light of Monte Paschi's market cap which has dropped to a paltry 800 million, suggesting that the bailout would be an effective "out of court" bankruptcy, structured as a quasi investment, with fresh money coming in from the new equity owners diluting existing stakeholders over 90%.

There was also no assurance that any new funds would not meet the same fate as the 8 billion in capital already raised over the past two years, money which has since "vaporized" in the seemingly endless hole of Monte Paschi bad debt.

Moments ago, we learned that this "private bailout" process appeared to be on the rock, when Reuters reported that Morgan Stanley and Italian lenders UniCredit and Intesa SanPaolo have walked away from Monte Paschi's "proposal" to back its pr ...

Past Mistakes Still Haunt Lender CIT

Midsize lender CIT is struggling to find the right size and business mix, even as it divests a profitable air leasing business.

Yield Plays: Exxon, Chevron Put to the Test

Shares have jumped but look susceptible as oil's slide resumes.

Credit Suisse: How it Made Money But Still Lost Ground

The Swiss bank turned in a second-quarter profit, but divisions including Asia stumbled.

Earnings Outlook: What to expect from Tesla earnings

Investors will be waiting to hear more about Elon Musk's 'Master Plan.'

Bond Report: Treasury yields little-changed ahead of BOJ meeting

Long-term Treasury prices little-changed Thursday, as investors focused on economic data and braced for the outcome of a Bank of Japan policy meeting

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 Destruction of the Existing Workforce
Minsky’s Theory of Asset Prices: Why Minsky Was NOT a Neo-Monetarist
News Blog
People Who Laughed At TRUMP...and Said He Would Never Be President
Disentangling Cyclical From Structural
Rent Growth For Lower-Priced Rental Homes Stayed Strong, But Higher-Priced Rental Homes Slowed In 2016
How Do Imports Affect Manufacturing Jobs?
Active Vs Passive Investing: And The Winner Is ...
Infographic Of The Day: The Incredible Pigeon
Early Headlines: Global Unaffordable Housing, Trump Signs ACA Exec Order, Trump Orders Halt To Regs, HealthCare.gov Enrollments Increase, Greek Tragedy, China Household Debt Surges And More
The Rise Of The Gluten-Free Diet
Who's Smoking In The U.S.
Six Cosmic Catastrophes That Could Wipe Out Life On Earth
What We Read Today 20 January 2017
THE FABULOUS FIFTIES
13 January 2017: ECRI's WLI Growth Index Insignificantly Improves
Investing Blog
Technical Thoughts: Three From The Trading Room
Why Are Investors Moving To ETFs?
Opinion Blog
Economics, Society, And The Environment: What's Wrong With This Picture?
How To Read Theresa May's Brexit Speech
Precious Metals Blog
Four Catalysts Drive Gold And Silver For 2017
Live Markets
20Jan2017 Market Close: U.S. Stocks Were Up But Off Their Highs Of The Session, Crude Prices Continue To Climb, Next Week May Be Volatile
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





























 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 - 2017 Econintersect LLC - all rights reserved