Wall Street is down marginally (SPY -0.2%) after crude prices and the US dollar reversed direction and climbed higher. New high were set by the SP 500 and $NDX earlier in the session, but have been unable to keep them as the major indexes have slid because investors remain unsure of Fed rate action.
Here is the current market situation from CNN Money
North and South American markets are mixed. The Bovespa is higher by 0.95%, while the IPC is leading the S&P 500 lower. They are down 0.67% and 0.18% 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)
SAN FRANCISCO (Reuters) - The iPhone 7 is expected to make its global debut on Wednesday, but many consumers and investors are already setting their sights on Apple Inc's 2017 version of the popular gadget, hoping for more significant advances.
BOSTON (Reuters) - Repairing burrito chain Chipotle Mexican Grill will not be easy but billionaire activist investor William Ackman's new involvement in the company could push management to move more quickly, research analysts at Morgan Stanley wrote on Wednesday.
DUBLIN (Reuters) - The European Union's demand that Ireland claw back billions in tax from Apple has hit the country's reputation as an investment destination just as it eyes up opportunities from Brexit, but officials say the damage will be limited.
(Reuters) - Mondelez International Inc , the maker of Oreo cookies and Cadbury chocolates, outlined on Wednesday its plans to expand in the United States, a week after abandoning its pursuit of U.S. confectioner Hershey Co .
NEW YORK (Reuters) - IBM Corp on Wednesday won the dismissal of a pair of proposed class action lawsuits filed after the company in 2014 announced it would take a $2.4 billion write-down in connection with selling its semiconductor unit.
It's the big day (again). After the last disappointing Apple Event, Tim Cook is set to 'surprise' everyone with headphone-jack-less iPhones, a GPS-included Watch, and probably "one more thing."
The event, which will be held in San Francisco's Bill Graham Civic Auditorium, is the company's most important annual outing. Even as the iPhone remains the outsize producer of Apple's revenue and profit, sales of the smartphone have recently been declining. So, as The New York Times' Brian Chen notes, more than ever, the onus is on Apple to keep up excitement for the gadget.
What's different this time is that the rumormongers have been buzzing about something that the new iPhones will lack, rather than a flashy new feature. The item that is supposed to disappear is the traditional headphone jack, with Apple expected to turn people toward wireless headphones instead.
An Apple spokeswoman declined to comment ahead of the announcement.
Here's a rundown of what to expect from Wednesday's event:
The removal of the iPhone's headphone jack, which will enable the device to become water-resistant.
A revised home button on the iPhones with 3-D Touch, a feature that activates different actions based on how hard the button is pressed.
The Plus model of the iPhone, which is the version with a larger screen, is set to include a dual-lens camera to take professional-grade photos.
At Facebook, the algorithm doesn't always know best. In late August, the social network put an algorithm in charge of its "trending" feature, selecting the most popular topics, articles and keywords. The change came after allegations in the spring that the contract workers who curated the news headline feature altered which articles appeared for political reasons.
Yet in recent days, as The Wall Street Journal reports, the "trending" lists have appeared more flawed than when humans were in charge. There have been false stories, misidentified keywords, and celebrity gossip in the place of more serious news.
"This doesn't seem like an appropriate solution," said Jason Turcotte, assistant professor of communication at California State Polytechnic University, Pomona. "Algorithms don't necessarily respond to news values or journalistic ethics. Algorithms respond to keywords, search terms and trends."
In doing away with the team of curators who had run "trending," Facebook redefined what it perceives as news. It modified the guidelines for the feature, giving more importance to smaller publications. "It's intentionally broad so we can be inclusive of a wide range of interests," Facebook said in the guidelines for the staff, published in late Augus.
The company was stung by the criticism that "trending" was biased, as alleged in a May report by tech blog Gizmodo. Facebook denied it was biased.
Relying on an algorithm distances the company from what appears on the site— ...
While his recent warnings about a return to market turbulence may have fizzled as a result of another unprecedented recent round of central bank intervention, by both the BOE and BOJ, who expanded their asset purchase programs to corporate bonds and doubling ETF monetizations, respectively while scapegoating Brexit, the period of calm is ending, and moments ago JPM's head quant Marko Kolanovic has released a new report, according to which the recent period of eerie, record calm across asset classes is about to end, warning that "we expect a significant increase in realized volatility, correlations and tail risk in September and October."
According to Kolanovic while a driver of the recent market stability the "relatively stable macro data and a seasonal decline in trading activity" he explains that "a significant driver of the volatility collapse was derivatives hedging effects, also known as pinning", as well as the near all-time high leverage for Volatility Targeting and Risk Parity strategies. However, "this is all about to change as a number of important catalysts materialize this month (ECB, BOJ, Fed meetings), seasonals push market volatility higher, and leverage in systematic strategies and option positioning provide fuel for volatility."
He also notes that normalization of monetary policy, rather than the current level of accommodative policy, poses a systemic risk for the market and could cut stock gains by 20% over the next three years:
How will the headwind of policy normalization impact these markets? This depends on the pace of normalization and any feedback loop with the economic cycle. For instance, if central banks normalize policy very gradually over 3 years and the economy doesn't stall, one could see near-zero returns for equities over that time period. The rationale is that the ave ...
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