Wall Street climbs higher, but short of yesterdays highs (SPY +0.6%). Strong U.S. dollar (103.13) has become a wrecking ball to oil, gold and silver as crude oil falls to its lowest level of the week at the $50 support, before recovering (WTI 51.15).
Here is the current market situation from CNN Money
North and South American markets are mixed today. The S&P 500 is up 0.66% while the Bovespa gains 0.03%. The IPC is off 0.53%.
$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)
LONDON (Reuters) - Rupert Murdoch's Twenty-First Century Fox has struck a $14.6 billion deal to buy European pay-TV firm Sky that unites a media empire across two continents and helps it take on rivals like Netflix in the battle for viewers.
(Reuters) - Yahoo Inc shares fell more than 5 percent on Thursday after the technology company disclosed a second massive data breach that raised fears Verizon might kill a deal to buy its core internet business.
(Reuters) - Twenty states filed a lawsuit Thursday against Mylan NV , Teva Pharmaceuticals and four other generic drug makers, saying they conspired on pricing of two common generic drugs, according to a copy of the complaint.
WASHINGTON (Reuters) - The largest U.S. banks will have to pay as much as $2 billion more a year to insure against a future market collapse, the U.S. Federal Reserve said on Thursday, as it outlined a new rule designed to further protect the financial system.
WASHINGTON (Reuters) - Rising rents lifted underlying U.S. inflation in November, pointing to a steady build-up of price pressures in the economy that could support more interest rate increases from the Federal Reserve next year.
BEIJING (Reuters) - China will soon be dethroned by Japan as the top holder of U.S. government debt as the Chinese central bank has been dipping into its foreign exchange reserves to support the yuan, while its Japanese counterpart has been content to allow the yen to weaken, economists said.
WASHINGTON/BEIJING (Reuters) - China's plan to punish a U.S. automaker accused of price-fixing is a sign of how Beijing could retaliate if President-elect Donald Trump upends decades of relations between the two nations.
NEW YORK (Reuters) - Intesa Sanpaolo SpA , Italy's biggest retail bank, agreed on Thursday to pay New York state's financial regulator a $235 million fine for anti-money laundering failures and violations of bank secrecy laws, officials said.
Meet Fox News host Kimberly Guilfoyle, who as The Hill reports, is a contender to be Donald Trump's White House press secretary.
Guilfoyle, a host of the Fox opinion panel show, "The Five," was seen recently at Trump Tower for lunch with senior Trump transition team members, Politico said on Wednesday, citing two unidentified sources.
Guilfoyle is a former assistant district attorney in San Francisco. She was once married to former San Francisco Mayor Gavin Newsom, a Democrat.
She is said to have a friendly relationship with Trump's oldest daughter, Ivanka, and Ivanka's husband, publisher Jared Kushner.
Republican National Committee and Trump transition spokesman Sean Spicer is still seen as a leading contender for position, as is another Fox News personality, Laura Ingraham.
Blink, and you missed your chance to refi. And according to nationalized mortgage giant Freddie Mac, it's about to get worse.
As shown last week, as a result of the recent spike in yields, the population of eligible refinance candidates has already plunged by more than half. As Black Knight pointed out, as of the end of November, though there are still 2M borrowers who could save $200+/month by refinancing and a cumulative $1B/month in potential savings, this is less than half of the $2.1B/ month available just four weeks ago.
Since then the number has shrunk substantially as rates have continued their relentless move higher.
According to the latest Wells Fargo refi rates, a 30 Year Fixed mortgage will now cost a prospective creditor some 4.625%. This was in the mid-3%s just a few months ago.
It was not just refis: according to the latest Freddie Mac update, the 30 Year Fixed has jumped to 4.16%, from 3.94% just a month ago, and 3.5% as of early October.
As Freddie notes in its latest press release, this week's mortgage rate survey was completed prior to the FOMC announcement. The 30-year mortgage rate rose 3 basis points on the w ...
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