A closely-watched gauge of consumer sentiment from the University of Michigan came in at 98, up from November. Wall Street hit a trifecta of records for the third day in a row today as this rally got a boost from healthcare and technology stocks.
Here is the current market situation from CNN Money
North and South American markets are mixed today. The IPC is up 0.55% while the S&P 500 gains 0.32%. The Bovespa is off 0.58%.
$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) - Rupert Murdoch's Twenty-First Century Fox Inc has made a $14.1 billion bid for the remaining shares of European pay-TV group Sky Plc that the U.S. company does not already own, the British broadcaster said on Friday.
(Reuters) - Coca-Cola Co said on Friday that Muhtar Kent would step aside as chief executive next year and be replaced by James Quincey, a company veteran credited with several recent changes to help the company cut its dependence on sugary drinks.
WASHINGTON/NEW YORK (Reuters) - U.S. President-elect Donald Trump has asked senior Goldman Sachs banker Gary Cohn to coordinate economic policy across his administration, turning to Wall Street for expertise in managing the world's largest economy, NBC News reported on Friday.
WASHINGTON, (Reuters) - U.S. wholesale inventories fell as previously reported in October amid a surge in sales, supporting views that inventory investment would provide a modest boost to economic growth in the fourth quarter.
GRAND RAPIDS, Mich./WASHINGTON (Reuters) - When President-elect Donald Trump returns to this factory town on Friday for a victory celebration, he will find a region that is already experiencing the manufacturing renaissance he promised on the campaign trail.
FRANKFURT (Reuters) - German semiconductor chipmaking machinery company Aixtron may sell off part of its business, its chief executive said in an interview published on Friday, opening the door for bidders after a deal with a Chinese company collapsed.
MOSCOW (Reuters) - Russia plans to meet with some OPEC and non-OPEC nations on Friday to discuss unresolved issues related to a planned oil-output cut before wider talks the following day in Vienna, a Russian government source told Reuters.
According to a memo from Trump's energy advisors, and obtained by Bloomberg, the new administration will be seeking significant changes to Obama's Energy Department. Per Bloomberg, the Trump team submitted a list of 65 questions to the agency that requested information on everything from how to keep aging nuclear plants online to a list of employees and contractors that attended the United Nations climate meetings and helped develop Obama's climate change policies.
Advisers to President-elect Donald Trump are developing plans to reshape Energy Department programs, help keep aging nuclear plants online and identify staff who played a role in promoting President Barack Obama's climate agenda.
The transition team has asked the agency to list employees and contractors who attended United Nations climate meetings, along with those who helped develop the Obama administration's social cost of carbon metrics, used to estimate and justify the climate benefits of new rules. The advisers are also seeking information on agency loan programs, research activities and the basis for its statistics, according to a five-page internal document circulated by the Energy Department on Wednesday. The document lays out 65 questions from the Trump transition team, sources within the agency said.
The Obama administration's policies targeted at providing loan guarantees to "clean-energy incubators" are set to receive significant scrutiny according to the list of questions. Many such projects were funded by the "Advanced Research Projects Agency" which has provided $1.3 billion in funding over 7 years for everything from batteries to biof ...
How to confirm that the market is in all-out euphoria mania mode? Perhaps one way is when a company issues a press release - a means of communicating with one's investors and the broader public traditionally reserved for important updates - in which the only "news" is boasting that it has surpassed $1 billion in market cap, that may be as good a signal as any.
Customers Bancorp, Inc. Achieves Market Capitalization of $1 Billion
Wyomissing, PA (December 7, 2016) - Customers Bancorp, Inc. (NYSE:CUBI), the parent company of Customers Bank (collectively referred to as "Customers" or the "Company"), today reported that the Company achieved a market capitalization of $1 billion on December 6, 2016.
"Reaching a market capitalization of $1 billion is an important milestone for us," said Jay Sidhu, Chairman and CEO of Customers. "In the seven years since we started the Company, Customers has grown its market value from roughly $10 million - a testament to the success of our customer-focused banking model."
The Company's recent gains partly resulted from a 7.6 percent jump of Customers shares on the New York Stock Exchange ("NYSE") on December 5, 2016. The Company's shares also traded at a volume higher than the average daily volume, with more than 600,000 shares traded compared to the daily average of less than 200,000. The $1 billion market capitalization announcement comes after Customers reported third quarter 2016 record earnings and record net income to common shareholders of $18.6 million, up 30.3 percent over Q3 2015.
Customers Bancorp, Inc.'s voting common shares have been listed on the NYSE under the symbol CUBI since 2014.
We almost wonder if CUBI will likewise issue a press release when its market cap slides back ...
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