Modest gains on Wall Street pushed the S&P 500 (SPY +0.5%) and Nasdaq Composite to record levels, while the Dow was trading within a mere 0.37 points (19,999.63) from the elusive 20K mark. Meanwhile, the Nasdaq Composite COMP, +0.8% was the best performer.
Here is the current market situation from CNN Money
North and South American markets are mixed. The S&P 500 is higher by 0.53%, while the IPC is leading the Bovespa lower. They are down 1.31% and 0.96% respectively.
$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)
WASHINGTON (Reuters) - U.S. employment increased less than expected in December but a rebound in wages pointed to sustained labor market momentum that sets up the economy for stronger growth and further interest rate increases from the Federal Reserve this year.
WASHINGTON (Reuters) - Volkswagen AG and the U.S. Justice Department are nearing an agreement to resolve the government's civil and criminal investigations that would require the German automaker to pay a penalty of more than $3 billion, sources briefed on the talks said on Friday.
WASHINGTON (Reuters) - AT&T Inc expects to be able to bypass a powerful telecommunications regulator in its planned $85.4 billion acquisition of Time Warner Inc , the companies said in regulatory filings on Friday.
TOKYO (Reuters) - U.S. President-elect Donald Trump has threatened Toyota Motor Corp over its Mexican-built cars, but the biggest risk from a punitive tariff would be for its compatriot Nissan Motor Co , the largest automaker operating in the country.
LONDON (Reuters) - Bitcoin plunged by as much as 12 percent on Friday after China's central bank urged investors to take a rational and cautious approach to investing in the digital currency, which is on track for its heaviest two-day drop in two years.
LONDON (Reuters) - Iran has sold more than 13 million barrels of oil that it had long held on tankers at sea, capitalizing on an OPEC output cut deal from which it is exempted to regain market share and court new buyers, according to industry sources and data.
TORONTO (Reuters) - Canada's Competition Bureau on Friday said it had not found sufficient evidence that Apple Inc had engaged in anti-competitive conduct, closing a two-year investigation into the iPhone maker.
US oil rig counts have now risen for 30 of th elast 32 weeks (up 4 to 529 today) - the highest in a year...
Following lagged oil prices and leading US crude production higher...
While the market continues to ignore this data (for now), we note that if the codependence remains, then OPEC will need to slash output further to balance the market as US shale output is not dropping any time soon.
As we reported yesterday, Lithuania confirmed the presence of U.S. special forces inside its territory, stating the deployment's purpose is to train local forces and act as a deterrent against Russian aggression. Supposedly, the move is in response to a "escalation" by Vladimir Putin, who has been deploying nuke-ready missiles in the Russian province of Kaliningrad located in the heart of central Europe. This move has prompted the neighboring Baltic states to become "highly concerned" about Russian military activity.
Furthermore, sometime during the spring of 2017, NATO is expected to send battalions of 800 to 1,200 troops to each of the Baltic States and Poland. The mainstream media has even dubbed NATO's recent buildup the alliance's "biggest military buildup on Russia's borders since the Cold War." Even Great Britain will be sending fighter jets, as well as troops to Romania in order to counter Russia in the region.
Over the last several years, Russia has made it abundantly clear in the past that its deployment of missiles is a deterrent against NATO expansion along its borders, in what is effectively a cat-and-mouse game that continues to be played with catastrophic consequences, and which neither side can win.
Meanwhile, as part of the latest conventional arms race, on Friday hundreds of U.S. tanks, trucks and other military equipment arrived by ship in Germany to be transported by ...
"As we begin 2017, the most urgent threat to liberal democracy is not autocracy," writes William Galston of The Wall Street Journal, "it is illiberal democracy."
Galston's diagnosis is not wrong, and his alarm is not misplaced.
Yet why does America's great export, liberal democracy, which appeared to be the future of the West if not of mankind at the Cold War's end, now appear to be a church with a shrinking congregation?
Why is liberal democracy losing its appeal?
A front-page story about France's presidential election, in the same day's Journal, suggests an answer.
In the final round next May, the French election is likely to come down to a choice of Marine Le Pen or Francois Fillon.
Le Pen is the "let France be France" candidate of the National Front. Fillon is a traditionalist Catholic from northwest France, home to the martyred resistance of the Revolution — the legendary Vendee.
Fillon won practicing and nonpracticing Catholics alike by a landslide, and took 3 in 5 votes of those professing other faiths.
Le Pen wants France to secede from the EU and move closer to Vladimir Putin's Russia. The five million Arabs and Muslims currently in France, the prospective arrival of millions more, and recent Islamic terrorist atrocities have all propelled her candidacy.
Fillon succeeded in his primary by identifying himself as a man of Catholic beliefs and values and an opponent of same-sex marriage and abortion. He does not repudiate secularism, but believes tha ...
On Thursday evening, during one of his latest Tweetstorms, Trump criticized leaks to several media outlets detailing contents of the classified Russian hacking report which Trump is set to go over any minute.
The leaks came before Trump's own briefing on those details by the intelligence community. The 50-page report was delivered to US President Barack Obama on Thursday, and is to be delivered to President-elect Donald Trump on Friday by top intelligence officials, including Director of National Intelligence James Clapper and CIA Director John Brennan, the Washington Post reports, one of several outlets that were given priority over the president-elect in learning the details of the document. CNN and NBC News also reported on the classified report, sparking outrage from Trump.
"How did NBC get 'an exclusive look into the top secret report he (Obama) was presented?' Who gave them this report and why? Politics!" Trump said in a tweet.
How did NBC get "an exclusive look into the top secret report he (Obama) was presented?" Who gave them this report and why? Politics!
— Donald J. Trump (@realDonaldTrump) January 6, 2017
Then, moments ago, following his interview with the NYT this morning in which he suggested that the storm surrounding Russian hacking during the presidential campaign is "a political witch hunt" being carried out by his adversaries, who he said were embarrassed by their loss to him in the election last year, and just prior to the debriefing by US intelligence agencies meant to prove to Trump once and for all that Putin was indeed responsible for his election, an angry Trump doubled down and tweeted that he is "asking the chairs of the House and Senate committees to investigate top secret intelligence shared ...
Econintersect wants your comments,
data and opinion on the articles posted. As the internet is a
"war zone" of trolls, hackers and spammers - Econintersect must balance its
defences against ease of commenting. We have joined with Livefyre
to manage our comment streams.
To comment, using Livefyre just click the "Sign In" button at the top-left corner of
the comment box below. You can create a commenting account using your
favorite social network such as Twitter, Facebook, Google+, LinkedIn or
Open ID - or open a Livefyre account using your email address.
You can also comment using Facebook directly using he comment block below.
Econintersect Live Market
Print this page or create a PDF file of this page
The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.
Take a look at what is going on inside of Econintersect.com