US stocks have trended up from a positive gap up at the opening (SPY +0.5%) as investors await the Fed report outcome on raising rates at 2 pm. Crude prices have held on to strong gains after US crude supplies fell.
Here is the current market situation from CNN Money
North and South American markets are higher today with shares in U.S. leading the region. The S&P 500 is up 0.48% while Brazil's Bovespa is up 0.40% and Mexico's IPC is up 0.12%.
$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)
According to Bill Gross, the number is much more important than Dow 20K, the price of oil or dollar strength, as it would signal a bear bond market.
Looking at the last three columns (below), 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.
WASHINGTON (Reuters) - The Federal Reserve is expected to raise interest rates for the second time in three months on Wednesday, encouraged by strong monthly job gains and confidence that inflation is finally rising to its target.
(Reuters) - U.S. stocks were mostly higher on Wednesday, with investors counting down to the conclusion of the Federal Reserve's two-day meeting, where the central bank is widely expected to raise rates for the first time this year.
FRANKFURT (Reuters) - Opel Chief Executive Karl-Thomas Neumann plans to remain in his job even after the carmaker has been sold to France's Peugeot, the German executive told German magazine Auto Motor und Sport.
INGOLSTADT, Germany (Reuters) - German prosecutors searched Audi's two biggest plants and other sites on Wednesday in connection with the emissions scandal still rocking parent Volkswagen , adding to pressure on the luxury division and its Chief Executive Rupert Stadler.
WASHINGTON (Reuters) - General Motors Co plans next year to rehire 500 Michigan assembly plant workers who are to be laid off in May, citing increased demand for larger vehicles, the company said on Wednesday.
Well, it's probably a stretch to say the next installment in the Fed's tightening cycle is finally here. After all, as Bloomberg's Richard Breslow, a former FX trader and fund manager, notes, it was only a couple of weeks ago that this foregone conclusion wasn't even on the market's radar.
The abrupt about-face was jarring and out of character in its timing, but I like the lack of overbearing hand-holding.
It's about time that forward guidance doesn't have to mean as far as the eye can see. Is the Fed behind the curve? Are they letting the economy run hot? Not to any dangerous extent. But that doesn't mean it's not time to start getting on with things and make some faster progress toward the still very-low levels that might approximate the neutral rate.
Unfortunately, the market will still be fixated on the notion of whether it'll be a dovish or a hawkish hike. We'll get a hike, most likely more upbeat projections and assurances that if things keep evolving as they have and according to forecast there will be opportunities to do more. The Fed's thinking three would be nice this year. The market is pricing less than that. Guess what? They're unlikely to say they were only kidding.
But you're not going to get some blanket pre-commitment, data-dependency didn't die. You'll also hear from a committee that's a lot less afraid of making a mistake. If that's not good ...
While President Obama has vehemently denied issuing direct orders to the Justice Department or other domestic agencies to monitor President Trump during the 2016 election campaign, it is common knowledge that the National Security Agency has the ability to access video and audio from any number of devices in real time. In fact, according to Edward Snowden and documented in the recently released Snowden motion picture, U.S. spy agencies can simply flip a switch to watch or listen in on anything going on in a particular room by turning on a particular device's cameras and microphones.
Here's how it works:
The technology is real, but according to legal scholars, would have been illegal to use on Donald Trump or his surrogates without a warrant or probable cause indicating links to terrorist organizations.
But while domestic spy agencies like the NSA and CIA can't actively monitor a citizen on U.S. soil, there is a very convenient work-around that has been used for over a decade to accomplish this task without technically breaking the law.
According to three intelligence sources who spoke with Judge Napolitano, this is exactly what President Obama did to then-candidate Donald Trump.
As previewed earlier, a grand jury in California has charged four people — including two Russian FSB intelligence officers, i.e. "spies" — in a pair of computer hacks against Yahoo that victimised hundreds of millions of consumers, the DOJ said on Wednesday. The men penetrated Yahoo's email accounts, often using "spear phishing" emails, and used information they obtained to access other accounts at Yahoo and Google,, prosecutors said.
Watch the press conference live:
Broadcast live streaming video on Ustream
* * *
With Yahoo having previously accused "state actors" in its historic breach, which exposed the personal data of one billion users, and led to a drop in the price which Verizon ultimately paid for the core business, the WaPo reports, that the Justice Department is set to announce the indictments of two Russian spies and two criminal hackers in connection with the heist of 500 million Yahoo user accounts in 2014, marking the first U.S. criminal cyber charges ever against Russian government officials.
The indictments is said to target two members of the Russian intelligence agency FSB, and two hackers hired by the Russians. The charges include hacking, wire fraud, trade secret theft and economic espionage.
According to government officials, in the 2014 hack, Russia's Federal Security Service, the FSB - a successor to the KGB - supposedly sought information for intelligence purposes, targeting journalists, dissidents and U.S. government officials, but allowed the criminal hackers to ...
How can two chains as similar as H&M and Zara—which both sell affordable fashion globally, but with a geographical bias to Europe—perform so differently? Financial data do not come with ready explanations, but it may be a good time to bet that the companies' fortunes reconverge.
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