US major indexes remain in the red, flat, but off the morning lows (SPY -0.1%). Crude prices have slipped again (WTI 43.42), US dollar fallen to the mid 95's and gold rising to 1317. Volume remains anemic, indicators neutral to bullish for the remainder of the session.
Here is the current market situation from CNN Money
North and South American markets are lower today with shares in Brazil off the most. The Bovespa is down 0.55% while U.S.'s S&P 500 is off 0.11% and Mexico's IPC is lower by 0.08%.
$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) - The S&P 500 and the Dow were slightly lower on Thursday, after sluggish monthly factory activity data dented optimism about the economy, even as investors count down to a crucial jobs report on Friday.
WASHINGTON (Reuters) - International Monetary Fund Managing Director Christine Lagarde said the institution will likely downgrade its 2016 global growth forecast again as economic prospects are dimmed by weak demand, flagging trade and investment and growing inequality.
LEXINGTON, KY (Reuters) - Keeping interest rates low in the United States will likely do little to resolve deep-set problems in the country's labor market, Cleveland Federal Reserve President Loretta Mester said on Thursday.
DOHA/BERLIN (Reuters) - The United States is poised to sell $7 billion worth of Boeing Co fighter jets to Qatar and Kuwait after years of delays, and it may start notifying U.S. lawmakers as early as next week, four U.S.- and Gulf-based sources familiar with the matter told Reuters.
WASHINGTON (Reuters) - U.S. factory activity contracted in August for the first time in six months as new orders and production tumbled, but a low level of layoffs continued to point to a pickup in economic growth in the third quarter.
NEW YORK (Reuters) - Royal Dutch Shell Plc participated in Mexico's oil hedging program for 2017, the first time an oil company has taken part in the world's large commodities hedging program, according to Bloomberg, citing four people with knowledge of the matter.
DUBLIN/BRUSSELS (Reuters) - Apple's Chief Executive Tim Cook described an EU ruling that it must pay a huge tax bill to Ireland as "total political crap", but France joined Germany on Thursday in backing Brussels as transatlantic tensions grow.
WASHINGTON (Reuters) - The International Monetary Fund called on Thursday for G20 leaders to take much stronger action to boost demand, revive flagging trade, make long-delayed structural reforms to their economies and share growth more broadly.
Hundreds of kilos of cocaine were found in a Coca-Cola plant in France last Friday, making the seizure of the drug one of the largest ever on French soil.
French officials say the cocaine was discovered in backpacks among a shipment of orange juice concentrate that originated in Costa Rica. The 370 kg of literal coke uncovered at the factory is reported to have a street value of 50 million Euros ($55m) and was referred to as a "very bad surprise" by a local prosecutor.
Authorities are currently unaware of who was behind the cocaine, but an investigation is now underway in Signes, a village in the south of France. Employees of the plant have already been ruled out as suspects.
"The first elements of the investigation have shown that employees are in no way involved," according to Jean-Denis Malgras, the regional president of Coca-Cola.
Coca-Cola was originally called Pemberton's French Wine Coca and contained a mixture of Peruvian coca leaves, kola nut, damiana, and cocaethylene (cocaine mixed with alcohol). Druggist John Stith Pemberton invented his French Wine Coca in Atlanta, Georgia, and it became very popular across the southeastern United States.
When it comes to accounting conventions, the Fed and the BOJ differ in one major way: unlike the Federal Reserve, the BOJ counts its bond holdings at the purchase price, minus amortization costs. In the old days before NIRP this wasn't an issue because with positive yields, it meant that with time, the value of any central bank bond purchases would accrete through maturity and never lead to a booked loss; however under NIRP, it means that the BOJ is purchasing hundreds of billions in bonds at prices that are so high they guarantee a loss, meaning that by maturity the central banks will face a cumulative loss on the face value of recent bond purchases.
From a purely accounting standpoint, it means that a gap has opened on the BOJ's balance sheet, representing the difference between the book and face value of the central bank's monetizations.
How big is the gap? According to Bloomberg as of August, the delta between the balance sheet and face value has ballooned to some 8.7 trillion yen, or $84 billion.
That "gap" is the difference between the 326.7 trillion yen in BOJ bond purchases at face value, and where they are marked on the balance sheet in August, or 335.4 trillion yen. That gap is 42% bigger than before the introduction of negative rates in January, and rapidly rising. At the end of the 2015 fiscal year on March 31, the gap between the two valuations was 6.4 trillion yen and the BOJ wrote down 874 billion ye ...
The ISM Manufacturing survey slipped slightly into contraction after five month in expansion. The key internals declined and are in contraction. The PMI manufacturing Index, also released today, is in positive territory and marginally declined.
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