econintersect.com
       
  

FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.



21Oct2016 Market Close: Major US Indexes Close Flat On Low Volume, Crude Prices Resume Climb, US Dollar Stabilizes In Mid 98 Handle, Yes, Most Investors Are Worried Which Way This Market Will Go

Written by Gary

Wall Street closed flat again, quietly on low volume (SPY -0.01%) and the big question for this weekend is, 'Where is this damn market headed?'. Some analysts have described this market as 'No man's land', where you might be damned if you do and damned if you don't. Indicators are neutral with a bearish slant.

Todays S&P 500 Chart

The Market in Perspective

Here are the headlines moving the markets.

AT&T bids for Time Warner, 21st Century Fox not interested: sources

(Reuters) - AT&T Inc is in advanced discussions to acquire Time Warner Inc , sources said on Friday, a deal that would give the telecom company control of cable channel HBO, the CNN news network, film studio Warner Bros and other media assets.

Wall Street flat as Microsoft rallies

NEW YORK (Reuters) - The S&P 500 and the Dow were little changed and the Nasdaq advanced on Friday, as a record-setting rally in Microsoft and earnings from McDonald's helped offset a fall in energy and healthcare names.

BAT offers to buy U.S. tobacco firm Reynolds in $47 billion deal

LONDON (Reuters) - British American Tobacco has offered to buy out U.S. cigarette maker Reynolds American Inc in a $47 billion takeover that would create the world's biggest listed tobacco company with brands including Newport, Lucky Strike and Pall Mall.

GE cuts year revenue target on oil, gas weakness, has third quarter profit beat

NEW YORK (Reuters) - General Electric Co scaled back expectations for its full-year revenue and profit on Friday, overshadowing third-quarter profit that beat analyst forecasts and sending its shares lower.

U.S. auto sales in October expected to drop 7 percent: J.D. Power-LMC

DETROIT (Reuters) - U.S. auto sales are forecast to drop more than 7 percent in October from the same period in 2015, the sixth monthly decline so far this year, as automakers offer steep discounts and adjust production to manage inventories, J.D. Power and LMC Automotive said on Friday.

New York governor approves new regulations on Airbnb

(Reuters) - New York Governor Andrew Cuomo approved legislation on Friday that would place new regulations on online home rental companies like Airbnb.

Fund managers focus on Prime memberships to gauge Amazon rally

NEW YORK (Reuters) - The strength of Amazon.com Inc's nearly 75 percent rally since February may depend on how many more brown cardboard boxes end up on the doorsteps of U.S. consumers this fall.

N.Y. Fed lowers U.S. third and fourth quarter GDP outlook

NEW YORK (Reuters) - The New York Federal Reserve on Friday downgraded its forecasts on U.S. economic growth in the second half of 2016 following data on regional business activities in October and a steep drop in housing starts last month.

PayPal says some customers unable to make payments due to cyber attack on Dyn

(Reuters) - PayPal Holdings Inc said on Friday that it has experienced some service disruptions due to the cyber attack on Dyn that caused Internet outages for its customers.

Did Clinton Press Secretary Get Caught On Tape 'Rigging' Media Questions?

In the latest Clinton campaign sham, Press Secretary Nick Merrill can be seen in the video below blatantly feeding questions to reporters during a post-debate "press conference" Wednesday night on Air Hillary. The first question is planted with Andrea Mitchell (aka "old faithful") when Nick Merrill shows her his cell phone. "Shockingly" Mitchell gets to ask the very next question and it's related to Trump calling Hillary a "nasty woman" during the debate. Then, moments later, Merrill can be seen signaling another reporter after seemingly sending him/her a text.

Serious, why doesn't Nick Merrill just ask the questions himself so we can all just do away with this charade?

You better behave, Andrea Mitchell, he's always watching you...

Clinton Mook

"Prepare For More Volatility As Yield 'Hunger Games' Comes To An End"

Submitted by Jeffrey Miller of Stock Research

May The Odds Be Ever In Your Favor

President Snow: Seneca... why do you think we have a winner?
Seneca Crane: What do you mean?
President Snow: I mean, why do we have a winner? I mean, if we just wanted to intimidate the districts, why not round up twenty-four of them at random and execute them all at once? Be a lot faster.
[Seneca just stares, confused]
President Snow: Hope.
Seneca Crane: Hope?
President Snow: Hope. It is the only thing stronger than fear. A little hope is effective. A lot of hope is dangerous. A spark is fine, as long as it's contained.
Seneca Crane: So...?
President Snow: So, CONTAIN it.

The Hunger Games, 2012

Just like President Snow, I think Chairwoman Yellen is playing a dangerous game with investors, giving them just a little bit of hope that someday monetary policy will normalize, that Fed Funds rates won't be stuck right near zero forever. But a lot of hope, a real conviction that the Fed was going to embark on a hiking cycle, would be dangerous for financial markets, in particular bonds of all kinds, which are trading at levels that assume that the Fed never really will follow through. Hope has been contained. For now.

But what would happen to bond markets if that hope turned into conviction that the Fed was really going to raise, or, even more dangerous (and much more likely), that credit spreads were going to widen? Then we'd see massive losses in bonds, in particular high yield CCC bonds, which are currently performing poorly f ...

An Establishment In Panic

Submitted by Patrick Buchanan via Buchanan.org,

Pressed by moderator Chris Wallace as to whether he would accept defeat should Hillary Clinton win the election, Donald Trump replied, "I will tell you at the time. I'll keep you in suspense."

"That's horrifying," said Clinton, setting off a chain reaction on the post-debate panels with talking heads falling all over one another in purple-faced anger, outrage and disbelief.

"Disqualifying!" was the cry on Clinton cable.

"Trump Won't Say If He Will Accept Election Results," wailed The New York Times. "Trump Won't Vow to Honor Results," ran the banner in The Washington Post.

But what do these chattering classes and establishment bulletin boards think the Donald is going to do if he falls short of 270 electoral votes?

Lead a Coxey's Army on Washington and burn it down as British General Robert Ross did in August 1814, while "Little Jemmy" Madison fled on horseback out the Brookeville Road?

What explains the hysteria of the establishment?

In a word, fear.

The establishment is horrified at the Donald's defiance because, deep within its soul, it fears that the people for whom Trump speaks no longer accept its political legitimacy or moral authority.

It may rule and run the country, and may rig the system through mass immigration and a mammoth welfare state so that Middle America is never again able to elect one of its own. But that establishment, disconnected from the people it rules, senses, rightly, that it is unloved and even detested.

Having fixed the fut ...

BAT-Reynolds: A Modest Premium For Modest Cost Savings

Given the limited scope for cost-cutting, BAT can't afford to pay much more than a 20% premium for Reynolds American

AT&T Rethinks Possible With Time Warner

Time Warner is an attractive media asset, but acquiring it would be a blockbuster of a gamble for AT&T.

Why Portugal and DBRS Still Matter for Europe

Portugal has held on to its investment-grade rating from DBRS. Drama has been averted, but remains on the agenda.

Futures Movers: Oil futures score a fifth-straight weekly gain

Oil futures finish modestly higher, with prices in New York marking a fifth-consecutive weekly gain.

The Tell: The stock market is caught deep inside 'no man's land'

With no true bottom in site to settle those with a bearish view and insufficient signs from the latest crop of quarterly earnings reports to arouse the animal spirits that might help equities clamber definitively higher, investors are in limbo.

Bond Report: 10-year Treasury yield posts largest weekly drop in a month

Treasury yields followed Japanese and European rates lower on Friday, with the 10-year yield posting its largest weekly drop in a month.

Summary of Economic Releases this Week

Real Time Economic Calendar provided by Investing.com.

Earnings Summary for Today

Earnings Calendar provided by Investing.com.

leading Stock Positions

Leading Stock Quotes powered by Investing.com

Current Commodity Prices


Commodities are powered by Investing.com

Current Currency Crosses

The Forex Quotes are powered by Investing.com.



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

gary@econintersect.com

Click here for Historical Releases Listing










Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, using Livefyre just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.



You can also comment using Facebook directly using he comment block below.





Econintersect Live Market

search_box

Print this page or create a PDF file of this page
Print Friendly and PDF


The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.


Take a look at what is going on inside of Econintersect.com
Main Home
Analysis Blog
Big Mess in Italy
Are You Feeling the Economic Surge?
News Blog
Are All Collateralized Loan Obligations Equal?
A Third Of Homes Sold For The List Price Or More In August 2016
It Is Still Not Too Late To Find A Seasonal Job
Infographic Of The Day: Are You A Good Listener
Early Headlines: Italy Votes 'No', Renzi Resigns, Euro Plunges 2 Pct, Asia Stocks Down, Trump Foreign Policy By Tweet, Dakota Pipeline Stopped, India Serv. PMI Contracts And More
Most Read Articles Last Week Ending 03 December
The World's Most Creative Cities
The Countries Where People Aren't Interested In Politics
Fidel Castro And The Revolution That Almost Wasn't
America Trumps Allies In Defense Spending
What We Read Today 04 December 2016
How Much Money It Costs To Make Money
Multiple Jobs Needed To Make Ends Meet
Investing Blog
Market Sector Analysis: 04 December 2016
Trumponomics: The New Hope
Opinion Blog
The Labor Market Working Nine To Five
Why Did Trump Win? A Different Perspective, Part 3
Precious Metals Blog
Silver Prices Rebounded Today: Where They Are Headed
Live Markets
02Dec2016 Market Close: WTI Crude Climbed Back Up To Previous 51 Handle, US Dollar Index Trading At The100 Level, Oil Rig Count At 10-Month High
Amazon Books & More






.... and keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government



Crowdfunding ....






























 navigate econintersect.com

Blogs

Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day
Weather

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2016 Econintersect LLC - all rights reserved