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15Aug2016 Market Close: US Markets Closed Up, But Off Session Highs As Crude Prices Rise, Short-Term Indicators Hint Of A Small Market Reversal

Written by Gary

US markets closed fractionally higher (DOW +60 points), but down -0.1% off the session highs. U.S. crude futures soared to fresh 3-week highs, WTI settling at 45.81 and the US dollar index fell by more than 0.15% to an intraday low of 95.43. Short-term indicators are bullish to neutral and subject to crude price movements.

Todays S&P 500 Chart

The Market in Perspective

Here are the headlines moving the markets.

Wall St. up as commodity shares rise

NEW YORK (Reuters) - All three major U.S. stocks indexes ended at all-time highs on Monday, extending their record-setting climb of the past few weeks as a rally in oil lifted energy shares, while materials also gained.

Billionaire investors turn bearish as U.S. stocks hit record highs

NEW YORK (Reuters) - A number of big-name hedge fund investors soured on U.S. stocks in the second quarter and moved to gold and other bearish bets, failing to anticipate the stock market rally in the current quarter.

AIG nearing deal to sell unit to Arch Capital for $3.4 billion: source

(Reuters) - American International Group Inc is nearing a deal to sell its mortgage-guaranty unit to Arch Capital Group Ltd for about $3.4 billion, according to a person familiar with the matter.

Fed's Williams urges new policies to combat low interest rates

SAN FRANCISCO (Reuters) - Central bankers and governments must come up with new policies to buffer their economies against persistently low interest rates that threaten to make future recessions deeper and more difficult to avoid, a top Federal Reserve official said on Monday.

OPEC deal a tough task, as oil output freeze expectations rise

DUBAI/LONDON (Reuters) - OPEC will probably revive talks on freezing oil output levels when it meets non-OPEC nations next month as top exporter Saudi Arabia appears to want higher prices, according to OPEC sources, although Iran, Iraq and Russia present obstacles to a deal.

Oil extends rally to five-week highs on talk of producer action

NEW YORK (Reuters) - Oil prices hit five-week highs on Monday, gaining 10 percent or more in a three-day rally as speculation intensified over potential producer action to support prices amid a crude glut.

UPS CEO sees 'sense of urgency' over TPP as China seeks own deal

LOUISVILLE (Reuters) - The head of United Parcel Service Inc said on Monday the United States runs the risk of missing out on setting the terms for international trade by not approving the Trans-Pacific Partnership (TPP) and said the company is lobbying members of Congress to approve the deal.

Tesla removes 'self-driving' from China website after Beijing crash

SHANGHAI/SAN FRANCISCO (Reuters) - Tesla removed a Chinese term for "self-driving" from its China website after a driver in Beijing who crashed in "autopilot" mode complained that the car maker overplayed the function's capability and misled buyers.

Japan's economy stalls in April-June, casts doubts on Abe's policies

TOKYO (Reuters) - Japan's economic growth ground to a halt in April-June as weak exports and shaky domestic demand prompted companies to cut spending, putting fresh pressure on premier Shinzo Abe to come up with policies that will produce more sustainable growth.

Hedgers Active As Stocks Hit Record Highs On Lowest Volume Day Of The Year

What we think about when we see the opening ramp like this morning...

Another day, another record high...

And another "lowest volume day of the year"..

Small Caps and Trannies outperformed on the day thanks to the opening ramp but we note that all indices closed lower from the EU close...

Today's meltup was not enjoyed by the vol-selling machines... it appears the spike was heavily hedged amid dismally low volume...

The first VIX up, Stocks up day in 6 weeks...

Mysterious Group Hacks The NSA

The latest hack revealed over the weekend has nothing to do with the Democratic Party or George Soros, and instead a mysterious hacker group by the name "The Shadow Brokers" claims to have hacked the Equation Group - a government cyberattack hacking group associated with the NSA, and released a bunch of the organization's hacking tools. The hackers are also asking for 1 million bitcoin (around $568 million) in an auction to release more files.

"Attention government sponsors of cyber warfare and those who profit from it!!!!" the hackers wrote in a manifesto posted on Pastebin, on GitHub, and on a dedicated Tumblr.

How much you pay for enemies cyber weapons? Not malware you find in networks. Both sides, RAT + LP, full state sponsor tool set? We find cyber weapons made by creators of stuxnet, duqu, flame. Kaspersky calls Equation Group. We follow Equation Group traffic. We find Equation Group source range. We hack Equation Group. We find many many Equation Group cyber weapons. You see pictures. We give you some Equation Group files free, you see. This is good proof no? You enjoy!!! You break many things. You find many intrusions. You write many words. But not all, we are auction the best files.

In February 2015, Ars Technical dubbed The Equation Group "the most advanced hacking operation ever uncovered." According to

Oregon State To Force "Social Justice" Training On Freshman

Submitted by William Nardi via TheCollegeFix.com,

Oregon State University is developing an online course centered on "social justice" that new students will soon be required to take.

The course will debut as a pilot program during the fall term, which starts in late September, and the full roll-out will happen toward the beginning of winter term, which starts in January, a university official told The College Fix via email.

The new program "is intended to provide all students entering Oregon State University an orientation to concepts of diversity, inclusion, and social justice and help empower all OSU students to contribute to an inclusive university community," campus documents state.

"Social justice" is largely a progressive phrase mainly used to tout left-leaning agendas such as environmentalism, socialism, feminism and gay rights. Oregon State would not be the first public university to mandate such a curriculum. At UMass Amherst, students are required to take two "social justice" classes to earn diploma, for example.

Oregon State's course, as proposed, would consist of five online modules that include a primer on "social justice efforts in Oregon and at OSU," instruction on how campus diversity advocates define "an inclusive and equitabl ...

As Asset Managers Struggle, Invesco Is a Relative Bargain

As a shift out of actively managed funds hits the entire industry, Invesco is underappreciated for its ETF business.

For Tesla, It's All in the Delivery

A lot is riding on Tesla Motors' ability to produce the Model 3 on time.

How TJX's Success Continues to Defy Traditional Brick-and-Mortar Retail

As shoppers shun department stores, the parent of T.J. Maxx, Marshalls and HomeGoods continues to thrive.

The Wall Street Journal: Congress to get FBI's notes about Clinton email probe

The FBI is preparing to hand over to Congress interview notes from its probe of Hillary Clinton's emails.

Bond Report: Treasury yields rise as stocks set new records

Treasury prices fell Monday, pushing yields higher, as a rally in assets perceived as risky, mainly equities and oil futures, led investors to sell investments perceived as safe, mainly government bonds.

When millennials fly, they don't want to say hi

Over 60% of millennials say they hide behind electronic devices to avoid interacting with airline staff

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

gary@econintersect.com

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