Wall Street continuing the 'Trump Effect' climbing higher on choppy volume and setting new records (SPY +0.6%). In a knee-jerk reaction, WTI crude futures pared losses in North American trade today, after data showed that oil supplies in the U.S. registered an inventory draw that was twice as big as expected.
Here is the current market situation from CNN Money
North and South American markets are higher today with shares in U.S. leading the region. The S&P 500 is up 0.70% while Mexico's IPC is up 0.53% and Brazil's Bovespa is up 0.15%.
$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) - The S&P 500 and the Dow hit record intraday highs on Wednesday, helped by gains in bank stocks, but President-elect Donald Trump's comments on drug prices slammed the healthcare sector, pulling down the Nasdaq.
WASHINGTON (Reuters) - AT&T Inc Chief Executive Officer Randall Stephenson told U.S. lawmakers on Wednesday that his company's planned $85.4 billion acquisition of Time Warner Inc would increase innovation, bring "better-priced options" to consumers
NEW YORK (Reuters) - President-elect Donald Trump on Wednesday took aim at drugmakers, promising in a magazine interview that "I'm going to bring down drug prices," and shares of U.S. pharmaceutical and biotechnology companies fell.
SINGAPORE (Reuters) - Oil major BP is shipping almost three million barrels of U.S. crude to customers across Asia, pioneering a lengthy and complex operation likely to become more popular after OPEC last week announced deep production cuts.
WASHINGTON (Reuters) - U.S. President-elect Donald Trump on Wednesday defended his direct interventions with companies, including making statements on Twitter, saying businesses will benefit from his actions and his upcoming term in office.
NEW YORK (Reuters) - Interest rates on U.S. fixed-rate mortgages rose to their highest levels in more than two years, sending weekly home loan application activity to its weakest since early January, Mortgage Bankers Association data released on Wednesday showed.
LONDON/NEW YORK (Reuters) - As far as one of the world's biggest commodities traders, Glencore's chief Ivan Glasenberg, is concerned, the oil market will be at the mercy of "a cat and mouse game" between OPEC and its U.S. shale rivals in the coming year.
FRANKFURT (Reuters) - German industrial gases group Linde has invited U.S. rival Praxair to resume merger negotiations after Praxair offered concessions on the division of power in the combined entity, defusing a dispute which led to the collapse of talks two months ago.
(Reuters) - Generic drugmaker Mylan NV , which has been under fire for its price hikes on the life-saving EpiPen allergy treatment, said on Wednesday that it would restructure and expected to cut less than 10 percent of its global workforce as it integrates acquisitions.
Having dropped out of the primary race almost exactly a year ago, prominent foreign policy hawk, Republic Senator Lindsey Graham told CNN during an interview today that he plans to launch two separate probes (from both of his subcommittees) into Russia's "hacking" and demand that President-elect Trump "take a much tougher tone towards Russia... or they will break up our alliances."
In intvw, GRAHAM announces plans for two new investigations into Russia hack, calls on Trump to toughen tone. Graham is the first Republican to call for an investigation into Russia after constant demands from the Democrats, and noted that he and John McCain support further sanctions on Putin.https://t.co/ZwnSKcxd5h
Denzel Washington had some "news" for the mainstream media peddling the narrative that the presidential election turned on "fake news:" It's all bullshit.
Despite finding himself previously in the center of a "fake news" story, which falsely claimed the actor was switching his support of Hillary Clinton to Donald Trump, Washington still slammed the media implying it was no better than those "fake" outlets it criticizes.
Speaking to the press agency ITK at the National Museum of African American History and Culture, the Hollywood celebrity paraphrased Mark Twain when he said: "If you don't read the newspaper, you're uninformed. If you do read it, you're misinformed," Washington said, while promoting his new film "Fences" according to The Hill.
One of the effects of "too much information," the 61-year-old Oscar winner says, is "the need to be first, not even to be true anymore."
"So what a responsibility you all have — to tell the truth," Washington exclaimed to the pack of reporters gathered on the red carpet.
"In our society, now it's just first — who cares, get it out there. We don't care who it hurts. We don't care who we destroy. We don't care if it's true," Washington continued.
"Just say it, sell it. Anything you practice you'll get good at — including BS.
His new film "Fences," based on an award-winning play of the same name, features Viola Davis and centers on the life of a black family in 1950s Pittsburgh. It is set to be released on Christmas and is considered one of the top Oscar contenders.
Submitted by Yves Mamou via The Gatestone Institute,
Four officers were injured (two badly burned) when around 15 "youths" (Muslim gang-members) swarmed their cars and hurled rocks and firebombs at them. Police were aggrieved when the minister of interior called the attackers "little wild ones." Police and opposition politicians replied that the attackers were not "little wild ones but criminals who attacked police to kill."
Two students at a vocational training school in Calais attacked a teacher, and one fractured the teacher's jaw and several teeth -- because the teacher had asked one of the students to get back to work.
"This is a warning. These young people did not attack the school by chance; they wanted to attack the institution, to attack the State." — Yacine, 21, a student at the University of Paris II.
The riot, which lasted for four nights, broke out after the arrest of a driver who did not stop when asked to by a policeman.
This revolt of one pillar of French society, the police, was the biggest that ever happened in modern France. Yet, virtually no one in France's mainstream media covered the event.
"Everything that represents state institutions (...) is now subjected to violence based on essentially sectarian and sometimes ethnic excesses, fueled by an incredible hatred of our country. We must be blind or unconscious not to feel concern for national cohesion". — Thibaud de Montbrial, lawyer and expert on terrorism.
France will elect a new president in May 2017. Politicians are already campaigning and debating about deficits, welfare recipients, GDP growth, and so on, but they look like puppets disconnected from the real country.
Someday, they simply wouldn't allow certain things to remain on the Internet any longer. The potential to reach a global audience with important information, and the idea that it could be in the hands of anyone is just too big.
So it is no surprise that many corporate giants from Silicon Valley are now putting forward a unified front to silence free speech on social media.
Hashtags, keywords and flagged accounts, logged in various databases, will be shared and enforced across the web. Shutting down content identified as unacceptable will now be streamlined, and leave unpopular posters with fewer places to peddle their extremist, outside views.
According to Yahoo! News:
Web giants YouTube , Facebook , Twitter and Microsoft will step up efforts to remove extremist content from their websites by creating a common database.
The companies will share 'hashes' - unique digital fingerprints they automatically assign to videos or photos - of extremist content they have removed from their websites to enable their peers to identify the same content on their platforms.
Gold prices rebound Wednesday after a back-to-back slump, helped as the dollar and Treasury yields all but stalled ahead of interest-rate policy decisions at the European Central Bank on Thursday and the Federal Reserve next week.
President-elect Donald Trump has selected Iowa Gov. Terry Branstad to be the next U.S. ambassador to China, a move that would make the six-term governor the nation's top diplomat to one of Trump's frequent political targets.
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