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27Oct2016 Market Close: Wall Street Closes Fractionally Lower, Interest-Rate Stocks Outweighed Gains In Healthcare, Market Indicators Bearish

Written by Gary

Wall Street closed lower (SPY -0.3%) on investor non-commental worries about the Fed's rate change tomorrow. Crude prices are battling the $50 resistance, the US dollar is challenging its resistance and gold tests its support. A decline in the consumer discretionary sector.

Todays S&P 500 Chart

The Market in Perspective

Here are the headlines moving the markets.

Alphabet's quarterly revenue rises 20.2 percent

(Reuters) - Google parent Alphabet Inc reported a 20.2 percent increase in quarterly revenue on Thursday, helped by robust sales of advertising on mobile devices and YouTube.

Amazon's quarterly revenue jumps 29 percent

(Reuters) - Amazon.com Inc reported a 29 percent rise in quarterly revenue on Thursday, boosted by a big jump in sales from its Prime Day annual shopping festival, strong back-to-school shopping and its market-leading cloud services business.

Apple adds touch screen keys to MacBook Pro, price jump startles some

CUPERTINO, Calif. (Reuters) - Apple Inc unveiled a revamped MacBook Pro on Thursday, adding a fingerprint reader, replacing function keys with a small touch screen and raising prices by several hundred dollars.

Qualcomm to buy NXP for $38 billion in biggest chip deal

(Reuters) - Smartphone chipmaker Qualcomm Inc agreed to buy NXP Semiconductors NV for about $38 billion in the biggest-ever deal in the semiconductor industry, making it the leading supplier to the fast-growing automotive chips market.

Wall Street falls as consumer discretionary shares weigh

(Reuters) - U.S. stocks dipped in a choppy session after the latest round of earnings reports, as a decline in the consumer discretionary sector and interest-rates sensitive stocks outweighed gains in healthcare.

Twitter cuts jobs with eye on 2017 profit; Vine discontinued

(Reuters) - Twitter Inc said Thursday it would cut 9 percent of its global workforce to keep costs down even as quarterly results eclipsed Wall Street's beaten-down expectations, lifting shares that had fallen after a failed effort to sell the company.

Ford, GM pitch new strategies; Wall Street snubs them

DETROIT (Reuters) - Ford Motor Co and General Motors Co have worked all year to convince investors that they are no longer prisoners of the U.S. auto market cycle and have solid plans to fend off challenges from Silicon Valley interlopers.

Belgium breaks deadlock over EU-Canada free trade pact

BRUSSELS (Reuters) - Belgium's regions agreed to a free trade pact with Canada on Thursday, ending weeks of uncertainty when internal divisions in just one country blocked the European Union of 500 million people sealing the landmark deal.

U.S. Senate panel to hold hearing on AT&T-Time Warner deal on December 7

WASHINGTON (Reuters) - The U.S. Senate Judiciary Committee's antitrust subcommittee will hold a hearing on Dec. 7 on the proposed merger of Time Warner Inc and AT&T Inc , and the companies' chief executives will testify, the committee said in a statement.

Bond Bloodbath Sinks Stocks As Dollar Spikes To 9-Month Highs

Another day, another pump-n-dump...

For a few brief shining moments this morning, everything was awesome, but then - once again - the selling started...

Bonds & Stocks were slammed...

G481

As Risk parity funds dumped...

As Bond-Stock correlation leaked back to 'normal'...

Futures show the week has been very technial with stops being run up and down around the 50- and 100-DMA...

Trannies outperformed but Small Caps were hit hard...

The Establishment Has Rigged the System: It's Time to Shake Things Up

Hold your real assets outside of the banking system in one of many private international facilities --> https://www.sprottmoney.com/intlstorage

The Establishment Has Rigged the System: It's Time to Shake Things Up

"If Trump Loses, I'm Grabbing My Musket": Former Congressman Ready To Go Full Revolution

Submitted by Mac Slavo via SHTFPlan.com,

This election remains more heated than any other in modern history - and for many, it has become a call to arms, even if only metaphorically.

Despite the fact that DNC operatives have been exposed as the ones inciting violence at rallies - Robert Creamer and Scott Foval for example - and working overtime to bus in illegal voters and rig the vote - the media is going out of its way to paint Trump supporters and grassroots Americans as the ones plotting violence.

Most recently, they are latching onto comments made by former congressman Joe Walsh, now a conservative radio host, who suggested he would 'pick up a musket' if Trump loses the election.

On November 8th, I'm voting for Trump.

On November 9th, if Trump loses, I'm grabbing my musket.

You in?

— Joe Walsh (@WalshFreedom) October 26, 2016

Did Walsh mean to imply violence? That is certainly how the media is portraying it, as his comments spark controversy and fuel fire to the debate ove ...

KKR Calls The Top: PE Giant Selling Distressed Debt It Bought Earlier This Year

One of the best trades of the year (in addition to buying beaten down, pre-bankruptcy coal stocks or our ongoing favorite trade, going long a basket of the most shorted names), was buying up distressed energy debt at the start of the year, when fears of mass defaults and liquidity events pushed debt prices to historical low levels. Some, like Oaktree, bought all they could. However, having ridden the wave higher, those same bottom-pickers are now calling the top.

Case in point, KKR is now selling distressed debt that it bought earlier this year, including in the energy sector, as the assets have appreciated more quickly than expected, credit co-head Nat Zilkha said in an interview with Bloomberg's Erik Schatzker.

"We are in a very significant monetization cycle, particularly in more of the distressed investments that we made," said Nat Zilkha, who oversees the 40-year-old firm's credit investments, adding that "we got involved in some situations in energy and coal and other commodities earlier in the year, and those have played out quite well -- frankly faster than we thought."

Well, nothing like having jawboning central banks and jawboning OPEC eager to help out the thesis.

High-yield debt in the energy sector has rallied 65 percent since its Feb. 11 trough this year, according to the Bloomberg Barclays High Yield Energy Index, as commodities prices have risen. West Texas Intermediate crude has advanced90 percent to almost $50 a barrel since its February low this year.

So now that KKR is taking profits in distressed energy where is the financial conglomerate looking next? Zilkha - who helps overse ...

Tesla: The Bill Is Still Coming Due

Tesla Motors' third-quarter results aren't as strong as they seem. The key question for the stock remains whether Tesla can deliver its Model 3 sedan on time and on budget. The stock's sky-high valuation leaves precious little room for a slipup.

Qualcomm's NXP Ride Worth a Big Toll

The deal would give Qualcomm exposure to the automotive and other growth sectors, making it worth the cost of the chip maker's overseas cash.

Deutsche Bank Investors Stuck Waiting for an Unwanted Call

The lack of a resolution on fines leaves the German lender vulnerable.

Apple demolished by Microsoft at their respective PC events

Apple's PC event was underwhelming compared with Microsoft's, and many designers are for the first time turning to Windows over iOS.

Germany's Lidl could shake up crowded U.S. grocery sector

Lidl, a German discount grocer, is entering a crowded U.S. grocery industry, and could pull customers from different income brackets.

Deep Dive: This might be the time to turn away from index funds

Active fund management can outperform when the stock market stalls, writes Phil van Doorn.

Summary of Economic Releases this Week

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Earnings Summary for Today

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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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