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15Feb2017 Market Update: US Financial Data Pushing Market Indexes To New Highs, US Dollar Slips From Session Highs, Investors Ingnoring The Fact This Party Will Come To An End

Written by Gary

Wall Street has once again hit new historic highs as the Trump rally steams ahead unabated (SPY +0.3%). US retail sales rose more than expected as households bought electronics and other goods, pointing to sustained domestic demand that should bolster economic growth in the first quarter.

Here is the current market situation from CNN Money

North and South American markets are mixed today. The Bovespa is up 1.76% while the S&P 500 gains 0.26%. The IPC is off 0.22%.

What Is Moving the Markets

Here are the headlines moving the markets.

U.S. data points to strengthening domestic demand and inflation

WASHINGTON (Reuters) - U.S. retail sales rose more than expected in January as households bought electronics and a range of other goods, pointing to sustained domestic demand that should bolster economic growth in the first quarter.

Wall Street rally chugs along on Trump's tax talk, strong data

(Reuters) - Wall Street rose on Wednesday, with the S&P on course for a 7-day winning streak for the first time since September 2013, after President Donald Trump repeated his promise of tax cuts and upbeat economic data increased the odds of a rate hike.

Verizon close to Yahoo deal, price cut of $250-350 million: sources

(Reuters) - Verizon Communications Inc is close to a revised deal to buy Yahoo Inc's core internet business for $250 million to $350 million less than the original agreed price of $4.83 billion, according to a source briefed on the matter.

Trump meets retail CEOs who oppose Republican border tax plan

WASHINGTON (Reuters) - U.S. President Donald Trump on Wednesday called tax code revisions a critical way to boost the nation's economy as he kicked off a White House meeting with chief executive officers of Target Corp , Best Buy Co Inc and six other major retailers.

Bosses defend Peugeot-Opel deal under political fire

FRANKFURT/PARIS (Reuters) - PSA Group and General Motors mobilized their chief executives on Wednesday to defend the Peugeot maker's planned acquisition of GM's Opel against a German-led backlash that could derail the deal even before its terms are finalised.

Anthem sues Cigna to block deal termination

(Reuters) - Anthem Inc said on Wednesday it filed a lawsuit seeking to block smaller rival Cigna Corp from terminating their proposed $54 billion deal, which would have created the largest U.S. health insurer by membership.

Fed's Yellen to repeat testimony pointing to rate hike: House aide

WASHINGTON (Reuters) - Federal Reserve Chair Janet Yellen's prepared remarks for a House of Representatives committee are identical to her written testimony submitted a day earlier to a separate panel, a House committee aide said on Wednesday.

Pepsi blames global macro concerns for weak outlook; shares fall

(Reuters) - PepsiCo Inc forecast 2017 adjusted earnings below analysts' estimates, citing weakness in its international markets, particularly in developing regions such as Asia, Middle East and North Africa.

Berkshire takes huge bite of Apple, boosts airline stakes

NEW YORK (Reuters) - Warren Buffett's Berkshire Hathaway Inc was an aggressive buyer of stocks in last year's fourth quarter, nearly quadrupling its stake in Apple Inc and increasing its stake sevenfold in the four biggest U.S. airlines.

Trump Offers National Security Advisor Job To Robert Harward: Reuters

As previewed yesterday, of the three men mentioned as Michael Flynn's national security advisor replacements, one stood out: the former deputy commander of the US Central Command and current CEO for Lockheed Martin in the UAE, Robard Harward. Moments ago, Reuters confirmed that as expected, Trump has offered the National Security Advisor job to Robert Harward.


Who is Harward? For those who missed it, here is our profile of the new NSC head from yesterday.

Meet The Man Most Likely To Replace Mike Flynn

The person who has emerged as the leading candidate to replace Michael Flynn, according to both Reuters and WaPo, is a senior naval officer who served under President Donald Trump's Defense Secretary James Mattis: Vice Admiral Robert Harward, who was deputy commander of U.S. Central Command under Mattis, will likely replace Flynn, officials quoted by Reuters said.

Vice Adm. Robert S. Harward, commanding officer of Combined Joint Interagency Task Force 435

Harward served under Mattis while he was at U.S. Central ...

While Elites Played Empire, America Fell Apart

Submitted by Charles Hugh-Smith via OfTwoMinds blog,

Dear Imperial America: the lifestyle you ordered is permanently out of stock.

Our extraordinary misallocation of national treasure and political power has set a banquet of consequences that few are willing to face, much less address head-on. If we had to sum up this vast misallocation, we might start by characterizing it as the result of a multitude of elites playing Empire with money borrowed from future generations.

We can start the list of extraordinary misallocations of national treasure with the Neocon's endless wars of choice. Ten years ago, estimates of the total cost of the Iraq misadventure were $3 trillion: Cost of Iraq War: $3 Trillion; Cost of Solar Plants to Power all 105 million U.S Households: $500 Billion (April 10, 2008)

(Yes, I know solar energy is not "the solution" due to intermittency, lack of storage, fossil fuels are needed to build and maintain the solar infrastructure, etc.--but the point is: would we be better off if we'd invested 20% of the money squandered on the Iraq misadventure on alternative energy, even with all its limitations?)

But this does not exhaust the list of extraordinary misallocations of treasure. Universities have found the funds to build grand edifices on campus (never mind the trillion dollars in student loan debt that funded the delusions of grandeur) while much of the rest of our educational infrastructure crumbles as deferred maintenance takes its inevitable toll.

Public transit systems such as the San Francisco Bay Area's BART always find the funds to pay for hefty raises and gold-plated benefits for employees and manag ...

The Sudden Onset of Inflation

Hold your real assets outside of the banking system in one of many private international facilities -->

Retail Zombies Haunt Industry

The lengthy list of retailers teetering on the edge of bankruptcy but not being allowed to die is holding the rest of the industry back.

Why the Market's AIG Selloff Is Overdone

American International Group took a surprisingly large charge against some insurance lines in the fourth quarter, but the risk is limited.

In Era of Big Beer, Heineken Needn't Get Drunk With Deals

The Dutch group has turned itself into an attractive emerging-markets play, making a fresh brewery megadeal unlikely.

December 2016 Headline Business Sales and Inventories Improve

Written by Steven Hansen

Econintersect's analysis of final business sales data (retail plus wholesale plus manufacturing) shows unadjusted sales declined - but the headline view was that sales improved. No matter as the rolling averages improved. Inventories remain elevated..

January 2017 Industrial Production Declines

Written by Steven Hansen

The headlines say seasonally adjusted Industrial Production (IP) declined, but headline manufacturing improved. Our view is similar to the headlines.

The Fed: Fed may have to raise interest rates more than three times in 2017, Rosengren says

Boston Fed President Eric Rosengren said Wednesday more than three interest-rate hikes may be needed this year.

Earnings Outlook: Kraft Heinz earnings: Cost-cutting and deal synergies may carry more weight

Kraft Heinz is scheduled to reveal fourth-quarter results after Wednesday's closing bell, with investors eyeing whether another earnings beat can propel the stock to record highs.

Those confusing food labels are about to get a lot simpler

U.S. consumers dispose of 40% of all food they buy.

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