Wall Street has risen from morning session losses to fractional losses (SPY -0.5%) and continues to trend upwards in a choppy session. Volume is moderately higher than previous sessions, but the regression trend remains in a downward direction.
Here is the current market situation from CNN Money
North and South American markets are mixed today. The Bovespa is up 2.74% while the IPC gains 0.16%. The S&P 500 is off 0.40%.
$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)
NEW YORK/DETROIT (Reuters) - The U.S. Environmental Protection Agency on Thursday accused Fiat Chrysler Automobiles NV of illegally using hidden software that allowed significant excess diesel emissions, the result of a probe that stemmed from regulators' investigation of rival Volkswagen AG.
(Reuters) - U.S. stock moved off their session lows around midday on Thursday, but were still set for their worst day this year as the lack of details on economic policy in Donald Trump's speech hit investors optimism and winded a post-election rally.
SAN FRANCISCO/WASHINGTON (Reuters) - Faced with sharply deteriorating economic conditions in 2011 after ending their second bond-buying program, Federal Reserve policymakers made an unprecedented bid to shore up the recovery by promising to keep rates low until at least mid-2013.
NEW YORK (Reuters) - AT&T Chief Executive Officer Randall Stephenson had an hour-long meeting in New York on Thursday with U.S. President-elect Donald Trump, who has opposed the company's planned acquisition of Time Warner Inc .
NEW YORK/WASHINGTON (Reuters) - Amazon.com Inc on Thursday said it plans to create more than 100,000 jobs in the United States, from software development to warehouse work, becoming the latest company to boast a hiring spree since Donald Trump won the U.S. presidential election in November.
ABU DHABI (Reuters) - Saudi Arabia has cut oil output to its lowest in almost two years, its energy minister said on Thursday, as the world's largest oil exporter leads OPEC's drive to eradicate a global glut and prop up prices.
Earlier this morning, Kellyanne Conway appeared on Bloomberg to discuss Trump's economic policies regarding everything from job creation to tax cuts, energy investment, infrastructure spending, Obamacare and China. Of course, she started by taking the opportunity to boast about the "Trump Effect" that has already resulted in manufacturing jobs coming back to the United States and record high-er stock prices.
"First of all, you already see the Trump effect. You see that manufacturing jobs are already coming back to the U.S., or staying here. Plans to build factories in Mexico, to ship jobs over the border there, take them away from hardworking Americans have stopped. That's the Trump effect."
"You see that the stock market loves that fact that he was elected. We've had record highs over a number of days."
After the brief commercial introduction, Conway addressed Trump's plans to "roll back corrosive regulations" that have suffocated job creation, lower taxes across the board and work with companies to develop America's energy resources "in a responsible and profitable way for all of us."
"His job creation plan includes a number of things. First of all, it's just rolling back some of these corrosive regulations. We hear from business owners and aspiring business owners daily that it's the regulatory framework that is suffocating them."
"In addition, he has a very ambitious, very doable tax relief plan. He will cr ...
We check out the Real Estate taxes across the country at various price points for homes, and it is obvious that local and state governments have a spending problem that they expect home owners to fund through these revenue raising vehicles. There are several drivers already in place for the next housing crisis. The Baby Boomers downsizing and moving into managed care facilities, unaffordable real estate relative to incomes (especially on the two coasts), Rising Real Estate Taxes and Total Home Ownership Costs, Rising Interest Rates, Inflation, and the end of the current business cycle.
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Submitted by Jared 'The 10th Man' Dillian via MauldinEconomics.com,
Everyone likes to compile lists of predictions for the new year.
Did you ever notice that when you look at all the failed predictions in any given December, what ended up happening was the opposite of what everyone predicted?
Contrarian Economic Predictions
Given that most predictions end up being wrong, why not just take a look at what passes for conventional wisdom and do the opposite?
Warning: many of these involve Trump.
1. Trump is going to nuke somebody in 2017
It is true that Trump wants to increase, rather than decrease, our nuclear capabilities, which runs pretty much counter to anybody's idea of what constitutes peaceful behavior in 2017.
The interesting thing about the nuclear threat is that as the popular perception of it has waned since the Cold War, the actual nuclear threat has increased as the number of nuclear weapons has declined.
What if the opposite happens—what if peace breaks out all over in 2017? And what if it is because of Trump?
2. Trump's billionaire cabinet is going to turn the United States into a vast plutocracy
The interesting thing is that inequality massively increased under Obama, who was allegedly concerned about the poor. Trump seems concerned about the rich—what if the opposite happens? What if inequality decreases?
There are a lot of good reasons why this would happen, particularly the composition of the Federal Reserve, which is about to get more hawkish no matter what happens. ...
The Senate Armed Services Committee is currently hearing the testimony of retired Marine General James Mattis, picked by Donald Trump to take over the Department of Defense.
Mattis retired from the US Marine Corps in 2013 after serving as the 11th commander of US Central Command, replacing General David Petraeus as the overseer of US operations in the Middle East and Afghanistan. His appointment requires a congressional waiver because federal law states that service members must wait seven years after retiring from active duty before they can hold senior civilian defense positions.
As the WSJ notes, "so far, there is no sign that he will face any resistance on for his Senate confirmation. He's winning a fair amount of praise from Democrats. It this continues to hold, he could have one of the smoothest confirmation votes of any Trump administration nominee."
"Our Armed Forces must remain the best led, best equipped, and most ready force in the world," Mattis told the Senate. "We must also embrace our international alliances and security partnerships. History is clear: nations with strong allies thrive and those without them wither."
"My watchwords will be solvency and security in providing for the protection of our people and the survival of our freedoms," Mattis said. "America has two fundamental powers. One is intimidation," Mattis told Senator Gary Peters (D-Michigan). "The other power, which we've used less in the last 20 years, is the power of inspiration." The US should not be turning to military power as the answer to all of its concerns around the world, the retired Marine general added.
Here are some of the key highlights so far:
Russia Is "Principal Threat" To US Security
While much of the hearing has so far been witho ...
Expect the president-elect to be a major focus of conference calls this earnings season as companies brace for possible tax reform, the scaling back of regulations and a tax holiday for cash held overseas.
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