US markets are down fractionally (SPY -0.6%) after Oil prices fell to the lowest levels of the session and the Fed is expected to hold on rates, which could give a strong signal for December. "The dam is breaking," Jeff Gundlach tells Reuters, he sees another 5-10% downside for the Spooz.
Here is the current market situation from CNN Money
North and South American markets are broadly lower today with shares in Brazil off the most. The Bovespa is down 2.46% while Mexico's IPC is off 1.47% and U.S.'s S&P 500 is lower by 0.56%.
$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)
Markets move inverse to institutional selling and this NYA Index is followed by Institutional Investors
Looking at the last three columns, the first one (Actual), is what was reported this morning. The second column (Forecast) is what analysts had forecast and the third column is the previous report. Full calendar HERE.
(Reuters) - U.S. stocks extended losses in afternoon trading on Wednesday, with the S&P 500 headed for seventh day of losses as a tightening race for the White House rattled investors and a fall in oil prices also weighed.
NEW YORK (Reuters) - Shuttered online news website Gawker Media LLC has reached a proposed $31 million cash settlement with Hulk Hogan, the former professional wrestler who obtained a $140 million judgment against the site over a leaked sex tape.
(Reuters) - Chipmaker Broadcom Ltd said on Wednesday it would buy network gear maker Brocade Communications Systems Inc for $5.5 billion to expand its fiber channel and data storage businesses, the latest in a flurry of chip sector deals.
WASHINGTON (Reuters) - The U.S. Justice Department filed a lawsuit on Wednesday against DIRECTV alleging the company acted as a ringleader to unlawfully swap information between it and three competitors regarding negotiations aimed at showing Dodgers baseball games in the Los Angeles area.
NEW YORK (Reuters) - Oil prices tumbled 3 percent on Wednesday after a record weekly build in U.S. crude inventories stoked investor worries about a global supply glut, days after analysts estimated higher monthly OPEC crude output.
(Reuters) - Tesla Motors Inc had an obligation to pay a total of about $1.7 billion to Japan's Panasonic Corp as of Sept. 30 for electric vehicle battery cells made at Tesla's gigafactory in Nevada, the carmaker said in a regulatory filing.
MILAN (Reuters) - Italy's market watchdog Consob plans to summon top executives of Monte dei Paschi and veteran banker Corrado Passera to explain the circumstances that led to Passera's dropping his rescue plan for the bank, a source close to the matter said.
While equity 'protection' costs are rising (VIX over 20 yesterday), and bond risk has risen to 6-week highs, the most prescient 'hedge' for a Donald Trump presidency has soared to its highest since the European crisis in 2011.
USDMXN short-dated implied volality has exploded higher in the last few days...
Furthermore, as Bloomberg reports, the largest U.S.-based exchange-traded fund of Mexican equities saw its biggest withdrawals since the 2013 taper tantrum on Tuesday, as renewed FBI attention on Hillary Clinton's e-mails boosted the odds of a Donald Trump presidency.
The iShares MSCI Mexico Capped ETF has become a popular vehicle for traders looking to bet on the U.S. election, and saw $94 million in outflows.
"This particular ETF seems to be the most connected to the polls," said Eric Balchunas, who analyzes exchange-traded funds at Bloomberg Intelligence. "This has literally become a proxy for what you think will happen in the election."
U.S. stocks drifted lower Wednesday as the prospect of a tightening presidential race pushed investors away from perceived riskier investments such as global equities and toward the traditional havens of gold and the Japanese yen.
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