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20Oct2016 Market Update: Wall Street Exhibits Signs Of Investor Strain And Worry, Gold Falls And Stabilizes

Written by Gary

Late afternoon trading moves indexes from a negative session low to flat status (SPY -0.02%). US dollar rises into the 98 handle and crude to the mid $50's. Indicators remain neutral.


Here is the current market situation from CNN Money

North and South American markets are mixed. The Bovespa is higher by 0.52%, while the IPC is leading the S&P 500 lower. They are down 0.28% and 0.23% respectively.

What Is Moving the Markets

Here are the headlines moving the markets.

First-time buyers boost U.S. home sales; jobless claims rise

WASHINGTON (Reuters) - U.S. home resales surged in September after two straight months of declines as first-time buyers stepped into the market, pointing to underlying momentum in the economy.

AmEx leads Wall St. recovery, tech stocks weigh on Nasdaq

(Reuters) - Wall Street recovered sharply to trade flat on Thursday as a rally in American Express and health stocks helped counter a drop in Verizon and technology stocks.

U.S. home resales rise, prices also up as inventory stays tight

WASHINGTON (Reuters) - U.S. home resales rose more than expected in September, boosted by a firming labor market that is helping buyers overcome a fast increase in prices and a national shortage in inventory.

Verizon revenue drops as subscriber additions disappoint

(Reuters) - Verizon Communications Inc added fewer than expected wireless subscribers in the third quarter due to intense competition, and indicated it may renegotiate a deal to buy Yahoo Inc after a breach of Yahoo user email accounts.

California launches criminal probe into Wells Fargo account scandal

WASHINGTON (Reuters) - The California Attorney General's Office has launched a criminal investigation into Wells Fargo over allegations it opened millions of unauthorized customer accounts and credit cards, according to a seizure warrant seen by Reuters.

Ex-Goldman recruit drives HSBC's investment banking ambitions

LONDON (Reuters) - Using a rare hire from a Wall Street firm, HSBC is pushing hard to become the top European-based investment bank while its regional rivals struggle with regulatory fines and falling revenues.

Exclusive: Blockchain platform developed by banks to be open-source

LONDON (Reuters) - A blockchain platform developed by a group that includes more than 70 of the world's biggest financial institutions is making its code publicly available, in what could become the industry standard for the nascent technology.

U.S. judge picks monitor for Deutsche Bank over regulator's choice

NEW YORK (Reuters) - A U.S. judge on Thursday approved a U.S. Commodity Futures Trading Commission deal with Deutsche Bank AG in which a monitor would be appointed to ensure the bank reports swaps data properly, but named someone other than the regulator's choice.

Catwalks and Katy Perry: Alibaba starts countdown to Singles' Day

HONG KONG (Reuters) - Chinese e-commerce giant Alibaba Group Holding Ltd started the countdown to its annual shopping festival Singles' Day on Friday, promising consumers - and investors - a bonanza of fashion shows, virtual reality and U.S. pop star Katy Perry.

DNC Chair Donna Brazile Pummeled Over Leaked Debate Question, Plays "Persecuted Christian Woman" Card

Donna Brazile was noticeably uncomfortable for every second of the following 10-minute interview with Megyn Kelly of Fox News. Kelly pushed hard on the recent Project Veritas undercover videos showing DNC operatives plotting to incite violence at Trump rallies and commit massive voter fraud and over Brazile's leaked email showing that she provided a CNN debate question to Hillary ahead of a March 2016 debate with Bernie. Brazile tried every trick in the book to deflect and pivot but Kelly held her feet to the fire.

Brazile's response on the Project Veritas videos were mostly nonsensical though she did summon the typical democrat argument that O'Keefe is a criminal and has a history of doctoring videos. But the real fireworks came when she was pressed on her leaked email revealing that she shared a debate question with Hillary in advance of a debate.

"I did not receive any questions from CNN, let's just be very clear."

"First of all what information are you providing to me that will let me see what you are talking about?"

"As a Christian woman I understand persecution, but I will not sit here and be persecuted because your information is totally false."

"Podesta's emails were stolen. You're like the thief that wants to bring into the night what you found in the gutter."

"I am not going to try to validate falsified information. I have my documents, I have my files."

Because Donna seems to be afflicted with the same disease that haunted Hillary during her tenure as Secretary of State, an awful condition the causes the ...

Trump Pledges To Accept Election Day Result, If...

"If he wins..."

Donald Trump opened up a Thursday campaign rally in Delaware, Ohio touching on the most sensitive topic from last night: by saying he'll accept the results of the presidential election... as long as he wins.

"I will totally accept the result of this great and historic presidential election," Trump told supporters in Delaware, Ohio.

He then paused dramatically.

"If I win."

The crowd went wild.... because the trolling must go on?

.@realDonaldTrump: "I will totally accept the results of this great and historic presidential election, if I win." https://t.co/R7kStUCH1B

— ABC News Politics (@ABCPolitics) October 20, 2016

As seen on Zero Hedge: The fix is in - wag the dog.

As we explain in Splitting Pennies, the world isn't as it is presented to us in textbooks, and on television. But as is often with the case of the Elite's black humor- they tell us how they are going to torture us as they are doing it. In a related example, the CIA tortured Muslims by playing the Barney "I Love You" song for hours and hours. Now, the joke is on us - the voters. They are laughing at us, that people still believe in 'democracy' that America has "Democracy" - one point here to end this argument. America is a Repulic, not a democracy. In a democracy, such as they have in Europe and in many states like California, voters vote on issues such as the legalization of Marijuana, abortion, and other issues. We do not use that system, America is a Federal Republic, where we elect representatives who 'represent' us in Washington (or, that's the idea - in reality it doesn't work that way anymore). Just search for the word 'democracy' on the official page explaining the Federal system of government, and you'll only see references to New England towns.

Anyway, we're now all actors (extras, and unpaid) in one of Hollywood's greatest productions, the US Presidential Election. And it's the biggest of them all. There's been a strong connection between Hollywood and Washington since World War 2. Hollywood helped sell the war, showing Propaganda films for free sometimes before a Matinee and other times all day long. This allowed Hollywood special 'gifts' and 'incentives' - leading to the agreement that one day, they'll make one of their own a US President - Ronald Reagan. How could a system based on lies, appearances, propoganda, and social control mechanisms have any better leader than an actor ...

Investors Charging Into American Express Should Think Again

American Express beat estimates for third-quarter earnings, but still faces strong competitive pressure.

ECB and Markets: A Dangerous Obsession

Mario Draghi gave markets no reason to get wound up about coming ECB action. If they do so, they will only have themselves to blame.

Why Battered Bank Stocks Are Blocking The ECB

When banks trade at very low valuations that hurts the supply of credit to the economy.

September 2016 Existing Home Sales Still Not Excellent

Written by Steven Hansen

The headlines for existing home sales were down and say "recent job growth is not yielding higher home sales". Our analysis of the unadjusted data is worse than the headlines.

The New York Post: Trump says he'll accept election result 'if I win'

Donald Trump said today he's prepared to respect the wishes of the American electorate — if they make him the next president.

Women in tech jobs trending downward despite best efforts

Girls Who Code says specifically targeting school-aged girls could help reverse a downtrend of female participation in the IT workforce.

Earnings Summary for Today

Earnings Calendar provided by Investing.com.

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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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