Wall street closed lower (SPY -0.3%) after a semi-active session where investors see signs that this rally is starting to stall as gold is outperforming its other asset peers by a healthy margin. Financials, transports and other big post-election gainers lost ground as earnings season kicks into gear.
NEW YORK (Reuters) - Deutsche Bank has signed a $7.2 billion settlement with the U.S. Department of Justice over its sale of toxic mortgage securities in the run-up to the 2008 financial crisis, the government agency said on Tuesday.
LONDON (Reuters) - British American Tobacco has agreed a $49.4 billion takeover of U.S. rival Reynolds American Inc , creating the world's biggest listed tobacco company after it increased an earlier offer by more than $2 billion.
(Reuters) - Wal-Mart Stores Inc will create about 10,000 jobs in the United States this year as part of a previously announced plan, it said on Tuesday, as President-elect Donald Trump puts pressure on companies to hire more U.S. workers.
CHICAGO (Reuters) - Caesars Entertainment Corp has wrapped up the $18 billion bankruptcy of its main operating unit, allowing the casino company to focus on restoring the tarnished Harrah's, Caesars and Horseshoe brands after two years of Chapter 11 proceedings.
DAVOS, Switzerland (Reuters) - The heads of some of the world's biggest oil firms and automakers agreed on Tuesday to push for broader global use and bigger investments in using hydrogen to help reduce emissions and arrest global warming.
(Reuters) - Boeing Co's chief executive said on Tuesday that he and President-elect Donald Trump "made progress" on lowering the cost of the Air Force One presidential aircraft fleet and on a potential sale of Boeing fighter aircraft, and suggesting a deal could be struck soon.
SEOUL (Reuters) - Jay Y. Lee, the 48-year-old leader of the Samsung Group, is due to appear at a court hearing on Wednesday when a judge will decide whether to issue an arrest warrant over his alleged role in a corruption scandal that has rocked South Korea.
Submitted by Lance Roberts via RealInvestmentAdvice.com,
For the third time in four weeks, the market was closed on Monday due to a holiday. Not only is this week shortened by a holiday, it is also coinciding with the annual Billionaire's convention in Davos, Switzerland and the Presidential inauguration on Friday. Increased volatility over the next couple of days will certainly not be surprising.
In this past weekend's missive, I discussed a variety of "extremes" being registered in many areas of the market and particularly in prices. To wit:
"I have often compared market prices to the equivalent of "stretching a rubber band." Prices can only deviate so far from the long-term trend line before a mean reverting event eventually takes place. Much like a "rubber band," prices can only be stretched so far before having to be relaxed to provide the ability to be stretched again.
The chart below shows the long-term trend in prices as compared to its underlying growth trend. The vertical dashed lines show the points where extreme overbought, extended conditions combined with extreme deviations in prices led to a mean-reverting event."
Accused Florida gunman, Esteban Santiago, who is charged with opening fire at a Florida airport, killing five victims and wounding six others, told investigators that he spoke with ISIS terrorists in "jihadi chat rooms" and carried out the deadly Jan. 6 attack on behalf of ISIS, authorities said Tuesday during a bond hearing.
Speaking at a bond hearing in Florida, FBI Special Agent Michael Ferlazzo testified that Esteban Santiago did not specify whether he was acting on ISIS' orders or was inspired by the group, according to CNN.
Ferlazzo said Santiago told him that he was in touch with like-minded individuals on jihadi web forums as they plotted similar attacks. He previously admitted to carrying out the mass shooting, according to authorities cited by AA.
"At various points...he said he carried out the attack because of government mind control," prosecutor Ricardo Del Toro said. "But he later said he did so because of [ISIS]...after participating in jihadi chat roms."
Santiago faces multiple charges related to the Jan. 7 shootings at Fort Lauderdale-Hollywood International Airport, including using and carrying a firearm during and in relation to a crime of violence; performing an act of violence against a person at an airport serving international civil aviation that caused serious bodily injury; and causing the death of a person through the use of a firearm.
If convicted, he could face the death penalty on the last two charges. Santiago deployed to Iraq in 2010 as part of the Puerto Rico National Guard, and stayed there for a year before returning to the U.S. He reportedly suffered from mental health problems.
Santiago is being held without bond following Tuesday's hearing. He will ...
Just weeks after it was revealed that the Pentagon attempted to bury a study, that it itself had actually commissioned, which revealed staggering financial waste on Department of Defense programs, John McCain has proposed a new military budget that would exceed Obama's proposed spending by $430 billion over 5 years and total over $5 trillion, in aggregate. In a 33-page white paper called "Restoring American Power", McCain described his proposals as just a start toward repairing the "damage that has been done to our military over the past eight years" under the Obama administration.
"President-elect Donald Trump has pledged to 'fully eliminate the defense sequester' and 'submit a new budget to rebuild our military.' This cannot happen soon enough."
"The damage that has been done to our military over the past eight years will not be reversed in one year. Just stemming the bleeding caused by recent budget cuts will take most of the next five years, to say nothing of the sustained increases in funding required thereafter."
In a scathing review of the Obama administration's military strategy, McCains blasts the "flawed assumptions" that justified ...
Consolidation in the TV distribution landscape has put pressure on fees networks receive from providers, according to analysts at Evercore, but new digital multichannel distribution platforms have helped some add subscribers and eased the impact.
A former 'Apprentice' contestant who has accused Donald Trump of making unwanted sexual advances is now suing him for defamation, her lawyer said Tuesday, days before Trump is to be inaugurated president.
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