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.



11Nov2016 Market Close: Wall Street Ran Out Of Steam, Closing Mixed, Gold Down, US Dollar Up, Indicators Remain Bullish

Written by Gary

Markets closed mixed (SPY -0.1% Vs. $DJI +0.2%), WTI crude closed down -3.2% and the US dollar closed up +0.3%. Gold took the largest plunge of -3.5% after a rally following Trump's victory ran out of steam today, pressuring energy, materials and healthcare stocks.

Todays S&P 500 Chart

The Market in Perspective

Here are the headlines moving the markets.

Wall Street rally sputters in Dow's best week since 2011

(Reuters) - A rally following Donald Trump's victory in the U.S. presidential election ran out of steam on Friday, pressuring energy, materials and healthcare stocks.

Limited repeal of Dodd-Frank seen under Trump: WSJ

WASHINGTON (Reuters) - The Trump administration is eyeing a more limited repeal of the 2010 Dodd Frank law, despite the Republican president-elect's campaign promise for a full repeal of the financial overhaul, the Wall Street Journal said on Friday, citing unnamed sources.

After Trump win, critic Buffett sees strong stocks, trade hurdles

WASHINGTON (Reuters) - Billionaire investor Warren Buffett defended the stock market's strength and raised doubts about President-elect Donald Trump's trade agenda in a CNN interview broadcast on Friday, just days after the U.S. election.

Case 'quite strong' for gradual rate rises, Fed monitoring markets: Fischer

SANTIAGO (Reuters) - U.S. economic growth prospects appear strong enough for the Federal Reserve to proceed with gradual interest rate rises but the central bank is monitoring an increase in long-term U.S. government borrowing costs, Fed Vice Chair Stanley Fischer said on Friday.

Facebook to stop ethnicity-based targeting for some ads

(Reuters) - Facebook Inc said on Friday it would no longer allow certain advertisers to exclude racial or ethnic groups when placing ads on its service, following criticism that the practice was discriminatory.

IMF board renews $250 billion crisis fund for another five years

WASHINGTON (Reuters) - The International Monetary Fund said on Friday its executive board approved the renewal of its $250 billion crisis lending fund, the New Arrangements to Borrow, for another five-year period starting Nov. 17.

Peru says TPP can be replaced with new trade deal, sans U.S.

LIMA (Reuters) - Peru President Pedro Pablo Kuczynski told Russian media that Pacific-rim countries can forge a new trade deal that includes China to replace the U.S.-led TPP that U.S. President-elect Donald Trump has vowed to scrap.

Twitter outperforms on ads for BuzzFeed's election livestream

(Reuters) - Twitter said it was able to deliver more viewers than promised to advertisers on an election night livestream, good news for the microblogging site as it tries to ward off growing competition for ad dollars from Snapchat and Instagram.

Two major Russian banks say hit by cyber attacks

MOSCOW (Reuters) - Two of Russia's largest banks, Sberbank and Alfa Bank, say they have been hit by cyber attacks in recent days.

Trump Triumph Sparks Dow's Best Week In 5 Years As Currencies Crash, Bonds Blow-Up, & Commodities Carnage

A Trump victory has seen the world sell commodities, sell bonds, sell credit, sell foreign exchange, sell gold, buy dollars and buy US banks.

Turmoil has rotated around the world's maket this week... Wednesday saw a developed market bond bloodbath, Thursday saw EM FX and bonds collapse, and Friday saw Commodities clubbed like a baby seal

And even in The Dow itself, just 4 stocks accounted for half the post-Trump gains (GS, CAT, JPM, HD)

The divergence between The Dow's gain and Nasdaq's loss is the biggest since Lehman...

"Most Shorted" stocks are up almost 11% in the last 6 days - the biggest short-squeeze since July 2013...

...

Memo To Trump: "Action This Day!"

Submitted by Patrick Buchanan via Buchanan.org,

"In victory, magnanimity!" said Winston Churchill.

Donald Trump should be magnanimous and gracious toward those whom he defeated this week, but his first duty is to keep faith with those who put their faith in him.

The protests, riots and violence that have attended his triumph in city after city should only serve to steel his resolve.

As for promptings that he "reach out" and "reassure" those upset by his victory, and trim or temper his agenda to pacify them, Trump should reject the poisoned chalice. This is the same old con.

Trump should take as models the Democrats FDR and LBJ.

Franklin Roosevelt, who had savaged Herbert Hoover as a big spender, launched his own New Deal in his first 100 days.

History now hails his initiative and resolve.

Lyndon Johnson exploited his landslide over Barry Goldwater in 1964 to erect his Great Society in 1965: the Voting Rights Act, Medicare and Medicaid. He compromised on nothing, and got it all.

Even those who turned on him for Vietnam still celebrate his domestic achievements.

President Nixon's great regret was that he did not bomb Hanoi and mine Haiphong in 1969 — instead of waiting until 1972 — and bring the Vietnam War to an earlier end and with fewer U.S. casualties.

Nixon's decision not to inflame the social and political crisis of the '60s by rolling back the Great Society bought him nothing. He was rewarded with media-backed mass demonstrations in 1969 to break his presidency and bring about an American defeat in Vietnam.

"Action this day!" was the scribbled command of Prime Minister Churchill on his notepads in World War II. This should be the motto of the first month ...

What Happens Next?

Are stocks still cheap?

Stocks and Bonds (closed today with TSY Futs unch) now have the same yield for the first time since Jan 5th

Bond-like stocks or stock-like bonds?

The "Buy and Hold" narrative spewed by every asset-gatherer and commission-taker is perhaps far better understood as "buy and hold on tight" as the following chart shows, for many, equity exposure is simply inappropriate (or too scary)!

Simply put, it's not the 'volatility' that people see as risk... it's
the drawdown, and as SocGen's chart above shows that drawdown is
practically impossible to bear unless you are lucky, blind, or ignorant.

Add to that the fact that US valuations have seldom been more expensive...

In today's over-inflated, over-leveraged,
over-manipulated markets, why on earth would a rational person not be
prioritizing protecting their financial wealth?

Trump in Bid To Be Greatest American?

Via The Daily Bell

Trump Reopening 9/11, Reversing Rome, in Bid To B ...

Global Markets: Talking 'bout a Fiscal Revolution

Donald Trump's U.S. election victory has shattered assumptions in global markets. The potential change from monetary to fiscal stimulus and from free trade to reversing globalization upends nearly every belief held by investors.

iPhone Connection Brings a Big Toll for Qorvo

The chip maker's gross margins are expected to stay under pressure for a while.

Trump and China's Currency: A Dangerous Relationship for Markets

President-elect Trump's attitude toward China could have a huge impact on how Beijing manages the slow weakening of the yuan.

The Tell: Trump rally to be followed by 11% stock-market tumble, forecasts Tom DeMark

Prominent chart watcher Tom DeMark is predicting that stocks, which have rallied mightily following Donald Trump's win of the U.S. presidential election on Tuesday night, will peak over the next five sessions.

Market Extra: Trump happened: What it means for stocks, bonds, other markets

Here are some of the areas within capital markets that are most likely to be influenced or already have seen moves on the heels of Trump's victory of Democratic opponent Hillary Clinton.

Top Ten: Weekend Roundup: What Trump's victory means | Stocks helped or hurt by Trump | Why you should (or should not) move to Canada

Here are MarketWatch articles to read this weekend

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
The Destruction of the Existing Workforce
Finance and Growth: The Direction of Causality
News Blog
Early Headlines: Migrants Incr. 41 Pct This Century, Women's March Largest Ever?, GOP ACA Disarray, Trump Hit With Ethics Complaint, Trump Back To '29?, May And Nieto To Visit Trump And More
New Seasonal Outlook Updates from NOAA and JAMSTEC Disagree Dramatically
Earnings And Economic Reports: Week Starting 23 January 2017
France And Germany Differ Starkly On Strong Leaders
Most Flags Combine Red, White And Blue
Electroconvulsive Therapy: A History Of Controversy, But Also Of Help
Super Bowl Ad Prices Doubled In A Decade
What We Read Today 21 January 2017
People Who Laughed At TRUMP...and Said He Would Never Be President
Disentangling Cyclical From Structural
Rent Growth For Lower-Priced Rental Homes Stayed Strong, But Higher-Priced Rental Homes Slowed In 2016
How Do Imports Affect Manufacturing Jobs?
Active Vs Passive Investing: And The Winner Is ...
Investing Blog
The Week Ahead: Political Uncertainty And Market Volatility
Investors: How Not To Lose Everything And Die Broke
Opinion Blog
Retailing In America: Bricks And Torture
Economics, Society, And The Environment: What's Wrong With This Picture?
Precious Metals Blog
Four Catalysts Drive Gold And Silver For 2017
Live Markets
20Jan2017 Market Close: U.S. Stocks Were Up But Off Their Highs Of The Session, Crude Prices Continue To Climb, Next Week May Be Volatile
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





























 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 - 2017 Econintersect LLC - all rights reserved