US stock markets closed lower (SPY -0.1%) in the second biggest loss since the election. The Dow opened just a short hop away from 20,000 but then lost 111 points, falling to 19,833, while the S&P 500 fell 18 to 2,249 and afternoon trading left the commodities mostly unchanged from the morning session.
WASHINGTON (Reuters) - A drop in U.S. exports last month pushed the country's trade deficit in goods higher while the number of Americans filing for unemployment benefits fell last week in a positive sign for the labor market.
WASHINGTON (Reuters) - President-elect Donald Trump's goal of overhauling the U.S. tax code in 2017 will depend partly on the work of an obscure congressional committee tasked with estimating how much future economic growth will result from tax cuts.
(Reuters) - Johnson & Johnson is negotiating a deal to acquire Swiss biotechnology company Actelion Ltd that would separate its commercialized portfolio from its research and development assets, people familiar with the matter said on Thursday.
DETROIT (Reuters) - Honda Motor Co said on Thursday it will recall nearly 650,000 Odyssey minivans in the United States covering 2011 to 2016 model years because second-row seats may not lock in the event of a crash.
WILMINGTON, Del. (Reuters) - Peabody Energy Corp said on Thursday it extended a deadline for creditors to join financing deals aimed at bringing the largest U.S. coal miner out of bankruptcy amid growing creditor support for its plan of reorganization.
(Reuters) - After years of running flat out, U.S. Gulf Coast refiners are lining up repairs to plants in 2017 - but facing a severe labor shortage that could delay work, drive up costs and raise accident risks.
Bonds & Bullion now outpacing stocks post-Fed... (and bank stocks are down 1.6% post-fed)
Once again the opening ramp but it was lackluster as hopes for Dow 20,000 are dashed for now as pension rebalancing (and front-running tax-selling) accelerates...WTF was that idiotic panic buying atthe close in Small Caps!??
On the week, Trannies are worst...
VIX briefly tagged 13.5 today with The Dow now 200 points from Dow 20k...
Utilities are now the only sector green post-Xmas with financials underperforming... Financials biggest 2-day drop in 3 months
Filmmaker Michael Moore is calling for mass demonstrations and disruptions to the Jan. 20 inauguration of President-elect Donald Trump.
Watch the latest video at video.foxnews.com
The outspoken liberal filmmaker suggested on Facebook his "5 Things You Can Do Right Now About Donald J. Trump," outlining a plan for sustained resistance to Trump's agenda.
It's been seven weeks since Hillary beat Trump by nearly 3 million votes but lost the presidency to him. So if your head is still spinning from that mindf***, or you can't quite believe a malignant narcissist will now sit in the Oval Office, or if you are simply still working your way through the 17 stages of grief, then I am here to say to you, "There's no crying in TrumpLand -- Let's get to work!" All hands on deck! Brush your yourself off and let's get busy because: a) All hope is not lost; b) There are more of us than there are of them; and c) The roadside is littered with the ended careers of self-absorbed, narcissistic politicians whose arrogance led them to do things that caused their early resignation or impeachment. Don't think that can't happen here.
I do not say these things because I am filled with optimism. In fact, I think the first thing we all have to do in order to move on is to admit out loud what we already think privately: As bad as we know it's going to be, it's actually going to be worse. A lot worse. Now cheer up and read on...
The S&P 500 has now tied a record with 9 consecutive days trading within the range set 10 days ago; what are the ramifications of the streak and its resolution?
Last Monday, we noted that for the first time in the history of the S&P 500, the index put together 3 consecutive Inside Days. That is, for 3 straight days, the high-low range was inside the range of the preceding day. We have no record of that ever occurring since the inception of the index in 1950. As noted in that post, "the idea behind the supposed usefulness of such events is that it signifies a contraction in prices and indecision among investors. Trading textbooks would say that whichever way prices eventually break out of such a contraction (i.e., up or down), it is likely to determine the direction of the subsequent trend." While no signal works 100% of the time, a study into price behavior following historical Double Inside Days in the S&P 500 did provide evidence for the theory that the direction of the initial breakout is a good indicator of the direction of the subsequent trend.
Well, since the S&P 500 initially broke the Triple Inside Days by putting in a higher high on December 20, the suggestion was that more upside was to follow. That hasn't panned out - yet. The index closed today roughly 1% below its "breakout" close. So, it has work to do if it is going to perform according to the textbooks.
While that unprecedented inside streak came to an end, there is another inside streak that also reached an all-time record today. As mentioned, December 20′s high was higher than December 19′s h ...
The American dream is a complicated concept, but I'd like to distill it down to a simple statistic that we are able to measure with data: the probability that a child born to parents in the bottom fifth of the income distribution makes the leap all the way to the top fifth of the income distribution.
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