US stock indexes are up (SPY +0.5%) after dipping into the red early in the morning session. The DOW is climbing three times faster than the Spooze, while crude prices are taking a 1% dip. The US dollar is fluctuation in wide swings and gold is still trending down, albeit, slowly.
Here is the current market situation from CNN Money
North and South American markets are mixed. The S&P 500 is higher by 0.68%, while the Bovespa is leading the IPC lower. They are down 3.31% and 2.73% 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)
Markets move inverse to institutional selling and this NYA Index is followed by Institutional Investors
Weekly jobless claims fell 11,000 to 254,000 last week. That came in lower than the estimate for 260,000. The prior week was unchanged at 265,000.
Macy's reported an adjusted 3Q profit of $0.17 per share, missing the estimate for $0.41. Revenue of $5.63 billion matched expectations.
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) - The Nasdaq lost ground sharply on Thursday, dragged down by a slide in technology stocks, as investors poured money into sectors that may benefit from Donald Trump's victory in the U.S. election.
(Reuters) - A senior person on President-elect Donald Trump's transition team contacted JPMorgan Chase & Co Chief Executive Jamie Dimon to see if he would be interested in being U.S. Treasury secretary, a person familiar with the matter said on Thursday.
LONDON (Reuters) - From construction companies in Spain to copper traders in London's financial district, Donald Trump's victory in the U.S. presidential election is being felt around the world as investors bet on a lasting rise in global inflation.
SAN FRANCISCO (Reuters) - Shares of Amazon.com Inc , Alphabet Inc and other technology companies sank on Thursday as Wall Street sold them to pay for infrastructure names that could benefit from potential economic stimulus spending by U.S. President-elect Donald Trump.
MARYSVILLE (Reuters) - Honda Motor Co is shifting around its North American vehicle production mix and may raise imports from Japan to squeeze out more SUVs as it struggles to keep up with strong U.S. demand for larger models, a factor which has prompted the automaker to trim its annual sales forecast.
ST. LOUIS (Reuters) - The Republican sweep of the White House and Congress could break the current gridlock over national policy in a potential boon to the U.S. economy, St. Louis Federal Reserve bank president James Bullard said on Thursday.
(Reuters) - Billionaire investor William Ackman on Thursday said he has had an "extremely constructive relationship" with Chipotle Mexican Grill Inc since buying a large stake in the beleaguered burrito seller.
If yesterday's 10Y auction - the first under president-elect Donald Trump - was "deplorable", then today's was not much better. The auction priced at a high yield of 2.902%, tailing the When Issued 2.889% by 1.3 bps, one of the biggest tails in recent history.
Furthermore, just like yesterday, the Bid to Cover collapsed, sliding from 2.439 in October to 2.107 despite the far higher yield, which was effectively matched with the BTC in February 2016, and before it the only lower one was in August of 2011 when the US was downgraded by S&P. The internals were just as ugly with Indirect Bidders tumbling from 65.4% to only 54.5%, the lowest since August of 2015. Directs took down 12.5% of the auction, leaving 33.1% to Dealers, roughly in line with average.
In summary: if yesterday's 10Y and today's 30Y are indicative of how "easy", or rather difficult it will be to sell debt for the Trump administration, the market may want to significantly reign in its expectations for a $5 trillion incremental boost to the US debt, which at this rate will only happen if the Fed is out there scooping it up in yet another QE operation.
The bond vigilantes are finally stirring and all it took was president Donald Trump.
Outspoken Brexiteer Nigel Farage offered to the "responsible adult" in the room when British PM Theresa May and US President-Elect Trump meet. Keen for Britain and the USA to keep up its special relationship, The Sun reports Farage said he would be there to ensure Trump did not get out of hand.
(Apologies for the low volume audio)
Speaking to James Whale on TalkRadio he was asked how he is going to make sure Trump behaves himself when he meets the Prime Minister for the first time, he replied: "I want him to make us his priority so I'm now going to become a diplomat.
"I'm going to say come and schmooze Theresa, but don't touch her for goodness sake.
"If it comes to it I could be there as the responsible adult to make sure everything's okay.
And he said he would give him a lesson on British etiquette so he does not try and kiss her on the lips.
But Farage was not done, as he added that Trump is much better for Britain than "loathsome creature" Barack Obama and this weekend he will be jetting off to the USA where he is hoping to meet Trump and his team to talk about how to strengthen the special relationship between our two countries. While President Obama said Britain would be at the back of the queue for a trade deal, Trump has said the opposite. Farage said:
"That Obama creature - a loathsome individual who could ...
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