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10Oct2016 Market Close: Wall Street Exhibits Weakness In Today's Slide, Crude Settles In $51 Handle, Investors Worried About SP 500 Triangle Chart Pattern Breaking Downward

Written by Gary

US markets closed in the green (SPY + 0.5%), but moderately off the morning session highs. Volume was low all session, but the BTFDers jumped in during the last minutes seeking bargains. Crude rallies 3% after Putin says Russia ready to join supply deal.

Todays S&P 500 Chart

The Market in Perspective

Here are the headlines moving the markets.

Wall Street rises as Clinton seen winner of second debate

(Reuters) - U.S. stocks rose on Monday as energy shares gained with oil prices and as polls showed Hillary Clinton's lead widening in the U.S. presidential campaign.

Apple stock hits highest since December on Samsung Note 7 fire crisis

SAN FRANCISCO (Reuters) - Apple Inc's stock on Monday jumped 2.3 percent, reaching a high not seen since December, after rival Samsung Electronics Co Ltd suspended production of its flagship Galaxy Note 7 smartphones following reports of fires in replacement devices.

U.S. top court to hear Apple-Samsung feud over iPhone designs

NEW YORK (Reuters) - After five years of litigation, the U.S. Supreme Court will hear arguments on Tuesday in the bitter patent dispute between the world's two top smartphone manufacturers over the amount Samsung should pay Apple for copying the iPhone's distinctive look.

Oil hits one-year high as Russia ready to join output caps

NEW YORK (Reuters) - Oil prices jumped as much as 3 percent on Monday, with Brent hitting a one-year high, after Russia said it was ready to join OPEC in curbing crude output and Algeria called for similar commitments from other non-OPEC producers.

EU's Vestager says not investigating Google's European tax deals

BRUSSELS (Reuters) - EU regulators who are investigating whether Alphabet unit Google is abusing its market power have has not extended their scrutiny to its tax deals with national authorities across Europe, the EU's antitrust chief said on Monday.

Salesforce still mulls bid for Twitter as shareholders resist: sources

(Reuters) - Inc is still deliberating whether it should make an offer for Twitter Inc in the face of resistance from Salesforce shareholders over the strategic merits and valuation of such a deal, people familiar with the matter said on Monday.

Greece gets positive review but euro zone withholds part of new loan payment

LUXEMBOURG (Reuters) - Euro zone finance ministers gave Greece a positive review of its reforms on Monday but divided up the latest tranche of aid to Athens, disbursing a 1.1 billion euro loan but postponing its decision on a further 1.7 billion payout to later in October.

Bristol lung-cancer setback puts rival Merck drug in driver seat

(Reuters) - New data is likely to prompt doctors to abandon Bristol-Myers Squibb's immunotherapy Opdivo in favor of Merck & Co's rival Keytruda in a large segment of the lucrative lung cancer market, analysts said on Monday. The results of a closely watched clinical trial sent Bristol's shares plunging 10 percent. The data, presented at a medical meeting on Sunday, showed that lung cancer patients fared worse on Opdivo than those on chemotherapy. Merck shares rose nearly 2 percent on stron

A Government Is Seizing Control Of Our Election Process (And It's Not The Russians)

Submitted by Peter Van Buren via The Ron Paul Institute for Peace & Prosperity,

There is an attempt underway for a government to take control of our election process and throw the election to Hillary Clinton. It is not the Russian government. Mark this day - it is when we came to understand that the American government decided to elect a president.

(Note: I understand in the minds of the mass media the most important issue in America today is Trump's crude remarks, but there are indeed real things to be concerned about otherwise.)

Here's how:

— Two days before the second presidential debate, the government of the United States officially accused Russia of a hacking campaign aimed at interfering in the U.S. election. In a joint statement, absent any specifics or technical details, the Department of Homeland Security and the Director of National Intelligence stated "the recent [hacked email] disclosures... are consistent with the methods and motivations of Russian-directed efforts... based on the scope and sensitivity of these efforts, only Russia's senior-most officials could have authorized these activities."

— The statement goes on to detail how only Democratic servers were attacked, meaning the American government is claiming that Russia is trying to throw the election to Donald Trump, plain and simple. It is left unsaid why the Russians would risk cyberwar with the United ...

Turkey And Russia Sign Strategic "Turkish Stream" Gas Pipeline Deal

Less than three months after Turkey's president Erdogan, in the aftermath of the mid-July "failed coup" visited Putin in Russia in his first and very symbolic foreign trip, Putin has returned the favor with a visit of his own to Turkey, where he promptly confirmed that economic relations between the two nations are on solid footing with the November 2015 downing of a Russian fighter jet over Turkey now largely forgotten, and where Turkey and Russia earlier today signed the strategic Turkish Stream gas pipeline agreement.

As noted previously, once completed the pipeline will carry Russian natural gas to Turkey under the Black Sea, and on to Greece and Europe. The project, with an estimated total cost of $13 billion, was announced in December 2014 during Putin's visit to Turkey as an alternative to the canceled South Stream pipeline through Bulgaria, which the Bulgarian government killed due to European pressure.

The signing of the deal came after a bilateral meeting between Turkish President Recep Tayyip Erdogan and his Russian counterpart Vladimir Putin who was in Istanbul to attend the 23rd World Energy Congress. During the signing ceremony, Erdogan said ministers and experts will continue to hold bilateral talks after the deal.

As Hyrriyet reports, Erdogan also said they reached consensus on the acceleration of the process for the Akkuyu nuclear plant. In addition, Putin also added that the two countries also reached consensus on discount in natural gas prices. He stated that Moscow lifted restrictions on citrus exports.

Podesta Email Reveals "Spoiled Brat" Chelsea Almost Caused Suicide Of Foundation COO

Newly released "Podesta Emails" published by WikiLeaks reveal that Chelsea Clinton was extremely worried about potential conflicts of interest between the Clinton Foundation, State Department and Teneo, a consulting firm that was founded by former aides to Bill and Hillary Clinton. Per The Washington Examiner, Teneo, founded by Doug Band and Declan Kelly, drew a lot of scrutiny for its decision to employ Huma Abedin during the final months of Hillary Clinton's State Department tenure. Chelsea apparently thought the firm created potential conflicts of interest when Abedin and Band went to State Department officials to seek assistance for Teneo's clients, including MF Global.

The situation escalated to the point that Doug Band sent the following email to John Podesta in November 2011 as he was "worried that if this story gets out, we are screwed." Among other things, Band had the following to say about Chelsea:

"She is acting like a spoiled brat kid who has nothing else to do but create issues to justify what she's doing because she, as she has said, hasn't found her way and has a lack of focus in her life. I realize she will be off of this soon but if it doesn't come soon enough...."


Less than ...

The World Looks Brighter for U.S. Companies

The global economy looks as if it is in for another year of weak growth, but the sales that U.S. companies draw from abroad could get a lot better.

An Extended Trial for Bristol-MyersSquibb

Bristol-Myers Squibb's disappointing clinical trial results may continue to weigh on the stock.

Bond Markets: The Uneven Playing Field Facing Investors

Bond returns have faded from their peaks. Government borrowers have the upper hand.

Key Words: Donald Trump has changed the language of journalism forever, says New York Times' Baquet

When campaign absurdity threatens objectivity, journalists have been forced, if reluctantly, to write the paragraph declaring, "This is just false," says New York Times Executive Editor Dean Baquet.

Apple could sell another 15 million iPhones because of Samsung's Note 7 explosions

Shares of Apple Inc. hit their highest prices of 2016 on Monday as Samsung Electronics Co. Ltd.' exploding-phone saga worsened and one analyst said Apple could sell millions of iPhones because of it.

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