US major indexes have slipped into the red marginally (SPY - 0.2%) as WTI crude fell from the mid 43's to the high 41's. Markets appear to be confused as Crude prices fall, so does the US dollar and gold setting up a conundrum of doubt in investors minds. Indicators today are bearish.
Here is the current market situation from CNN Money
North and South American markets are mixed. The IPC is higher by 0.14%, while the Bovespa is leading the S&P 500 lower. They are down 1.60% and 0.28% respectively.
$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)
WASHINGTON (Reuters) - U.S. job openings increased in June and layoffs dropped to their lowest in nearly two years as labor market conditions tightened further, according a government report on Wednesday.
NEW YORK (Reuters) - Boeing Co may not raise production of its 787 Dreamliner jet to 14 a month but will generate more cash even if it does not lift output from the current rate of 12 a month, Chief Financial Officer Greg Smith said on Wednesday.
LONDON/SHANGHAI (Reuters) - ACT Inc, maker of America's most popular university entrance exam, is laying off its head of test security and plans to audit nearly 200 education centers after Reuters detailed widespread cheating in an ACT-owned college-prep program for international students.
(Reuters) - Burger chain Wendy's Co reported lower-than-expected quarterly comparable sales on Wednesday as a fall in grocery prices encouraged more diners to eat at home, sending the company's shares down as much as 8 percent.
NEW YORK/ST. LOUIS, AUGUST 10 (Reuters) - In 2011, amid a crackdown on international money laundering, the U.S. Treasury Department tried to close a loophole that authorities said allows drug cartels to move bulk cash across borders on gift and other prepaid cards.
MIAMI (Reuters) - Under a blazing sun in a Florida college parking lot, employees of the U.S. government's auto safety regulator, Toyota Motor Corp and a tire industry trade group checked vehicles for recall notices, under-inflated tires and improperly installed child safety seats.
While over the last several months, tensions over the South China Sea territorial dispute have mostly focused on the diplomatic war of words between China and the US, Reuters reports that in a move that is likely to substantially "raise tensions with Beijing", Vietnam has secretly fortified several of its islands in the disputed territory with Israeli-made EXTRA mobile rocket launchers 'capable of striking China's runways and military installations across the vital trade route."
The launchers have been hidden from aerial surveillance and they have yet to be armed, but could be made operational with rocket artillery rounds within two or three days, Reuters notes adding that intelligence shows Hanoi has shipped the launchers from the Vietnamese mainland into position on five bases in the Spratly islands in recent months
The move, which analysts say "is the most significant defensive move Vietnam has made on its holdings in the South China Sea in decades", is designed to counter China's build-up on its seven reclaimed islands in the Spratlys archipelago. Vietnam's military strategists fear the building runways, radars and other military installations on those holdings have left Vietnam's southern and island defenses increasingly vulnerable.
Vietnam's Deputy Defence Minister, Senior Lieutenant-General Nguyen Chi Vinh, told Reuters that it has reserved the right to take any such measures. "It is within our legitimate right to self-defense to move any of our weapons to any area at any time within our sovereign territory," he said.
Hanoi is "discretely" putting the launchers in place as it expected tensions to rise in the wake of the landmark international court ruling against China in an arbitration case brought by the Philippines, foreign envoys said. The ruling last month, stridently ...
Ahead of this Friday's retail sales report, which bulls are hoping will show a continuation of the strong spending trends revealed in last month's data, Bank of America is once again the bearer of bad news.
As BofA reports in a note released this morning, according to the bank's internal aggregated credit and debit card data, consumer spending slowed in July, with retail sales ex-autos down 0.3% mom on a seasonally adjusted basis. This follows the flat pace in June for retail sales ex-autos. As chief economist Michelle Meyer points out, "we think the recent weakening in consumer spending is largely a cooling down after the exceptionally strong gains from March through May (Chart 1).
Looking at the full year, BofA finds that retail sales ex-autos are only up 0.7% yoy, and points out that Census Bureau data have closely followed the trend in the BAC data, suggesting that the market should prepare for either a downward revision to the June data and/or disappointing July figures: "In our view, this sets up for a softer Census Bureau retail sales report on Friday - we would not be surprised to see either disappointing July sales and/or a downward revision to June."
It's not all bad news: based on the BAC card data, BofA found that spending on staples slowed over the course of last year with a slight recovery this year.
The S&P consumer staples index showed a similar slowing over last year, but a somewhat faster recovery than the card data.
This is in contrast to the data on discretionary ...
Submitted by Johanna Markind via The Gatestone Institute,
The problem is not that foreign charities directly subsidize jihadi activities, but that they promote a highly aggressive ideology with a political agenda, whose followers are more likely to take the next step into violent action.
Fighting terrorism is not just the responsibility of the government, the prime minister said, but rather all of society needs to get involved.
France is taking steps to de-radicalize its mosques in the hopes of preventing the radicalization of its Muslim community.
Since December, the French government, acting under expanded emergency powers, has shut down twenty mosques for preaching Salafism, a strict and highly politicized Sunni interpretation of Islam. Groups such as ISIS adhere to Salafism. About 120 of France's 2,500 mosques and prayer halls are considered Salafist.
A little background: the United States' 9/11 Commission found that Saudi Arabia uses charity and "government funds to spread Wahhabi [a
The Dow Jones Industrial Average will trade above 20,000 in a year, according to a bottom-up analysis of the blue-chip gauge provided by Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.
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
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