US major indexes have dipped into the red after trying in vain to hold opening highs. More bearish global new in that China's industrial production, retail sales and fixed asset investment for July all came in with weaker readings. Gold remains at session lows and the US dollar has recovered some of the morning losses which was to be expected, but is this a bearish trend?
Here is the current market situation from CNN Money
North and South American markets are lower today with shares in U.S. off the most. The S&P 500 is down 0.25% while Mexico's IPC is off 0.19% and Brazil's Bovespa is lower by 0.17%.
$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. retail sales were unexpectedly flat in July as Americans cut back on discretionary spending, pointing to a moderation in consumption that could temper expectations of a sharp pickup in economic growth in the third quarter.
NEW YORK (Reuters) - A U.S. judge denied a request by shareholders of SunEdison Inc for an official committee to represent them in the bankruptcy of the U.S. renewable power plant developer, which the judge described as "hopelessly insolvent."
WASHINGTON (Reuters) - The judge overseeing the U.S. Justice Department's bid to stop big health insurer Anthem from merging with competitor Cigna said on Friday her goal was to have a ruling by the end of January, later than the Dec. 30 sought by Anthem.
(Reuters) - J.C. Penney Co Inc's quarterly loss more than halved as the company cut costs and benefited from higher sales of home goods and footwear as well as beauty products at Sephora outlets in its stores.
WASHINGTON (Reuters) - U.S. producer prices unexpectedly fell in July on declining costs for services and energy products, pointing to a tame inflation environment that could make it difficult for the Federal Reserve to raise interest rates.
NEW YORK (Reuters) - Oil prices were up about 1 percent on Friday, on track for their biggest weekly gains since May, after a short covering rally was triggered by comments from Saudi Arabia's oil minister in the previous session about possible action to help stabilize the market.
LONDON (Reuters) - The glue binding a still-aggressive global monetary policy response to a struggling world economy and almost daily record highs for world stock markets along with record low bond yields is set to remain intact in the coming week.
TOKYO (Reuters) - Marlboro maker Philip Morris International says its e-cigarette has rapidly captured close to 3 percent of Japanese tobacco sales, making inroads into a market Japan Tobacco (JT) relies on for 40 percent of its profit.
Submitted by Ron Paul via The Ron Paul Institute for Peace & Prosperity,
Last Friday saw the release of a bombshell jobs report, with headlines exclaiming that the US economy added over 250,000 jobs in July, far in excess of any forecasts. The reality was far more grim. Those "jobs" weren't actually created by businesses - they were created by the statisticians who compiled the numbers, through the process of "seasonal adjustment." That's a bit of statistical magic that the government likes to pull out of its hat when the real data isn't very flattering. It's done with GDP, it's done with job numbers, and similar manipulation is done with government inflation figures to keep them lower than actual price increases. In reality there are a million fewer people with jobs this month than last month, but the magic of seasonal adjustment turns that into a gain of 255,000.
Delving further into the jobs report, we see that many of the jobs that were supposedly created were jobs in government and health care. Government jobs, of course, are paid for by siphoning money away from taxpayers. And health care jobs are increasingly created solely because of the ever-growing mandates of Obamacare. Other major sources of job growth were temp jobs and leisure & hospitality (i.e. waiters and bartenders). These aren't long-lasting jobs that will contribute to economic growth, they are mostly just jobs that cater to the tastes of the well-to-do who continue to benefit from the Federal Reserve's easy monetary policy.
As New York, San Francisco, Washington, DC, and other political and financial hubs continue to benefit from trillions of dollars of debt-financed government spending and the ...
From the May lows at 316, US oil rigs have risen 10 of the last 11 weeks to 396, tracking lagged oil prices almost perfectly still. Oil prices had rallied all morning into the rig count data but the 15 rig rise - the biggest since Dec 2015 - sent prices lower...
This is the biggest 11-week rise (+25%) since January 2010...
Moments ago, when we showed the newly released Clinton 2015 tax return, we posted a rhetorical question: "how much of the Clinton charity donations went to the Clinton Foundation? Taking a deduction for contributing to the employer of your daughter and expense payer of your husband is awesome."
We now know the answer: as page 29 of the tax return reveals, of the $1,042,000 in charitable cash contributions, exactly $1 million went to, you guessed it, the Clinton Family Foundation, whose expenses pay among others those Clinton family members and friends employed by the foundation, like Chelsea Clinton who happens to be the foundation's Vice Chair. Is this the ultimate Clinton reacharound?
Here is a list of some of the other key employees at the foundation:
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