US stock indexes have risen from session lows to the unchanged line (SPY -0.02%), while crude prices rose after data showed that crude supplies in the U.S. fell unexpectedly last week. Market indicators are bearish going towards Friday's Fed rate announcement.
Here is the current market situation from CNN Money
North and South American markets are mixed. The Bovespa is higher by 0.01%, while the IPC is leading the S&P 500 lower. They are down 0.65% and 0.03% 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)
NEW YORK (Reuters) - Microsoft Corp on Wednesday announced a free update to its Windows operating system that lets users take photos and edit content in three dimensions, in an effort to bring excitement to its declining computing business.
NEW YORK (Reuters) - Barclays Plc and UBS AG have agreed to settle U.S. litigation by bondholders who accused the banks of conspiring with rivals to rig the Libor benchmark interest rate, lawyers for the plaintiffs said in court filings on Wednesday.
NEW YORK (Reuters) - U.S. prosecutors are expected to obtain their second guilty plea in a case related to what they say was an illegal bitcoin exchange owned by an Israeli behind a series of hacking attacks on organizations such as JPMorgan Chase & Co.
LONDON (Reuters) - Banks in the European Union will get more time to adjust to new rules aimed at making sure that banks hold enough of a capital cushion against risky lending on their trading books, an EU document showed on Wednesday.
WASHINGTON (Reuters) - Wall Street executives are too shielded from prosecution and should answer for misdeeds committed by underlings, the watchdog for a multibillion-dollar bailout said on Wednesday.
BOSTON (Reuters) - U.S. securities regulators on Wednesday will consider allowing investors to pick directors from a single ballot, in what would be the latest move to open up the governance process of large corporations.
Joe Biden said he wanted to take Trump behind the bleachers and beat him up. No one on Clinton's side disavowed that call to violence because, we assume, they consider it justified hyperbole, but, as NBC News reports, it appears Donald Trump is in.
While campaigning for Hillary Clinton last week in Wilkes Barre, Pennsylvania, the veep said he's always asked by reporters if he wished he were the one debating Trump.
"No," Biden responded. "I wish we were in high school. I could take him behind the gym. That's what I wish."
Rounding out a full day of rallies in Florida Tuesday night, the GOP nominee went off on a tangent against Biden, calling him "Mr. Tough Guy" for comments the VP made last week that if it were high school he'd take Mr. Trump "behind the gym."
Trump remembered the comments slightly differently — he said, "did you see Biden wants to take me to the back of the barn?" — but wasn't deterred by the sentiment behind them.
WOW!AWESOME!Mr Trump Rips Joe Biden For "Take Him Behind The Gym" Threat ! I'd Love that Mr. Tough Guy!Mr Trump Respond! #CantStumpTheTrump pic.twitter.com/hk7YI2pSbj
— TRUMP ANOMALY (@ANOMALY1) October 26, 2016
"I'd love that," he said of the idea of the two grown men tussling as if they were high ...
We keep getting surprise Oil Inventory reports each week for the last 6 weeks, it seems we are in slight deficit right now, which is unusual for this time of year. We are headed to $60 a barrel regardless of OPEC nonsense.
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With all the surprising and/or disturbing things going on - Brexit, China's soaring debt, US/Russia/China saber rattling, the, um, unique US presidential race, the cyber attack that shut down big parts of the US Internet - you'd think that an unsettled world would be reflected in skittish financial markets.
Instead we're getting the opposite, with stock price movements becoming more and more placid as the year goes on. The following chart shows the volatility index (VIX) for the S&P 500 which, after some notable action in 2008 and 2011, has become ever-calmer, with recent readings comparable to the (in retrospect delusional) levels of 2006, just before the biggest financial crisis since the Great Depression.
And it's not just equity risk that has been pummeled...
What's going on?
First, during credit bubbles volatility normally contracts because enough new money is being created to provide pretty much everything with a bid. In other words, all the new liquidity being created by desperate governments has to go somewhere, so dips get bought before they can become drama ...
Value stocks measured by free cash-flow yields that are held long enough for compounding do its magic are one of the few bright spots in an increasingly bleak world of investing, according to Société Générale's head of quantitative equity research Andrew Lapthorne
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