US indexes have climbed to a new intraday highs (SPY +0.7%) with the Spooz reaching a new historic high. Afternoon trading starts off with caution as the market's risk levels have been increasing. Crude prices have risen over 3 percent, but have stopped short of the $50 barrier. And the US dollar remains above 101.
Here is the current market situation from CNN Money
North and South American markets are mixed today. The Bovespa is up 1.61% while the S&P 500 gains 0.69%. The IPC is off 1.24%.
$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)
(Reuters) - Tyson Foods Inc shares tumbled almost 16 percent on Monday after the nation's biggest meat processor forecast lower-than-expected 2017 profit and said Chief Executive Donnie Smith would step down at the end of the year.
(Reuters) - American companies from appliance makers to auto parts suppliers have lined up to offer a quiet caution to President-elect Donald Trump as he considers pulling the United States from trade deals: most lost manufacturing jobs aren't coming back, but higher costs for consumers could.
LONDON (Reuters) - Citi has joined JPMorgan at the top of global regulators' list of systemically important banks, replacing HSBC and meaning the U.S. bank will have to hold extra capital from 2019 to help preserve financial stability.
BRUSSELS (Reuters) - Microsoft will still allow LinkedIn's rivals access to its software and give hardware makers the option of installing other services to try to win EU approval for its takeover of the U.S. firm, people familiar with the matter said.
NEW YORK (Reuters) - Hedge funds have struggled of late to keep up their reputation as the sports cars of the investment world, often overtaken in the race for returns by the public buses of portfolios, index funds.
NEW YORK (Reuters) - Oil prices rose over 3 percent to a three-week high on Monday, catching a lift from a weaker dollar, as major oil producing countries appeared to be moving closer to agreeing to limit output.
VIENNA/DUBAI (Reuters) - OPEC experts have made some progress on the first day of a two-day meeting to nail down details of their plan to cut oil output, OPEC sources said on Monday, with some expressing optimism about the prospect of a final deal.
(Reuters) - Business software maker Oracle Corp said on Monday it would buy Dyn, a monitor of global internet performance and traffic, to allow cloud customers to optimize their infrastructure costs and increase web-driven revenue.
There was never a reason for these bastards to run higher in the first place, given that there are hordes of zombie dry bulkers littering the seas keeping day rates at artificially depressed levels. The only way this issue gets corrected, frankly, is for excess supply to be scrapped. Until then, enjoy your depressed day rates and floating bankruptcy vessels.
The sector looked good in the pre-market, but have since given it all up and more.
Day rates for capesizes are at a fraction of what they were back in 2007 and half of what they were in 2014.
At the forefront of this fuckery is DRYS, a company that saw its stock rise this morning after news that it agreed to terms with one of its lenders.
Over the past year, Bank of America's chief investment strategist Michael Hartnett has often repeated that when looking at the "transforming word", one core theme that emerges is the rotation away from monetary to fiscal policy, and from "Wall Street"-focused strategies to "Main Street." Now, under the Trump presidency, his vision may be validated. On a report "peak returns, big rotations" he shares BofA's asset allocation under the new regime for 2017 as follows: long stocks (except in North America where he is bearish), real
estate, commodities, and the U.S. dollar, while shorting bonds.
Among his suggested trades are long inflation, short deflation; long Main St., short Wall St.; long fiscal winners, short "ZIRP" winners; long real assets, short financial assets. Hartnett also lays out the expected returns these various trades: low/negative for bonds, with single-digits for U.S. stocks, commodities, U.S. dollar, EM; sees double- digits for Japan, Europe, U.K. stocks, oil.
Hartnett says. "we believe that for first time since 2006, there will be no big easing of monetary policy in the G7, and that interest rates & inflation will surprise to the upside."
A summary of the bank's 7 key themes and trade is shown in the table below:
When looking at 2017, Hartnett says that he expects a year of "peak returns and big rotations" and break out the divergence from 2016 as follows:
Global interest rates fell to 5,000-year lows; central bank purchases of financial assets topped $25tn (i.e. >GDP of US & Japan); the stock of negatively ...
Via The Daily Bell Rand Corp. Blasts 'Truth Decay' - Wants Facts Determined by Appropriate Leaders
'Truth Decay' Makes Facts Subjective and Polarization More Extreme ... Disagreements over policy have always existed—but disagreements over basic facts have not. It's a phenomenon that RAND CEO Michael Rich calls "truth decay." -Rand Corporation blog
Michael Rich, head of Rand Corporation has come up with a new phrase to describe "fake news," calling it "truth decay." The Rand Corporation is a leading military-industrial think tank with thousands of employees including scientists from ...
Mike Pence dusted himself off from his "Hamilton" outing long enough to confirm on Sunday that Mitt Romney is a top candidate to serve as Donald Trump's secretary of state. And the stock market should embrace it.
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