Wall Street has trended downward after Trump's news conference (SPY -0.1%). Crude prices are climbing as we enter the late afternoon session while the US dollar falls sharply.
Here is the current market situation from CNN Money
North and South American markets are mixed. The Bovespa is higher by 0.20%, while the S&P 500 is leading the IPC lower. They are down 0.14% and 0.02% respectively.
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.
NEW YORK (Reuters) - U.S. President-elect Donald Trump on Wednesday said pharmaceutical companies are "getting away with murder" in what they charge the government for medicines, and promised that would change.
(Reuters) - The New York Stock Exchange will make all U.S. securities available for trading on the NYSE floor by year-end, giving investors another, less speed-dependent, way to trade securities such as Nasdaq-listed stocks and exchange-traded funds.
WASHINGTON (Reuters) - Leading U.S. banks may find that a Republican plan to ease restrictions on Wall Street is not worth the additional cost of capital, a report from Fitch Ratings said on Wednesday.
SEOUL (Reuters) - A South Korean special prosecutor's office will question Samsung Group [SAGR.UL] leader Jay Y. Lee as a suspect in a widening influence-peddling scandal that may force President Park Geun-hye from office.
WASHINGTON (Reuters) - Volkswagen AG has agreed to a $4.3 billion settlement to resolve the U.S. government's civil and criminal investigations into the German automaker's diesel emissions cheating, two sources briefed on the matter said Wednesday.
There is only one word to describe today's 10Y auction, which took place just as the dollar was tumbling after the Trump press conference provided virtually no detail on his fiscal stimulus plans, sending all risk assets lower: "Yuuge."
Pricing at 2.342%, today's 10Y reopening of Cusip U24 stopped 1.8bps through the "When Issued" of 2.36%, the biggest gap since May 2016, and below last month's yield of 2.479%m with internals that were likewise scorching: the bid to cover jumped from 2.39 in December to 2.58, while Indirect Bidders, aka central banks, took down a whopping 70.5%, a spike from 57.5% last month and one of the highest on record, while Directs took down 8.7%, leaving a paltry 20.7% to Dealers, also one of the lowest in 10Y series history.
Overall, blistering demand for 10Y paper and the first time since August that the yield has posted a monthly decline.
While consumers benefit as credit-card issuers increasingly offer rewards to lure customers, the real winners are big banks like Chase and Citigroup, which are leaving behind stand-alone card companies in the fight for market share.
Merck's cancer therapy Keytruda looks set to live up to its lofty expectations after the FDA approved an application to sell the immunotherapy drug in combination with chemotherapy to lung cancer patients.
When nominated to be vice president after Gerald Ford ascended to the Oval Office in the wake of the Nixon resignation, Nelson Rockefeller went before the Senate and tried to dispel the "myth" of his family's wealth and vast influence over the nation's economy.
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