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22Mar2017 Market Close: Stocks Closed Mixed, Oil Continues Decline, And Gold Trends Higher As The Dollar Index Remains Under 100

Written by Gary

U.S. stocks were mixed after the close on Wednesday as the Dow was lower for the fifth day in a row. Gains in the Technology, Industrials and Consumer Services sectors led shares higher while losses in the Telecoms, Consumer Goods and Oil & Gas sectors led shares lower.

Todays S&P 500 Chart

The Market in Perspective

Here are the headlines moving the markets.

Choppy day on Wall Street; all eyes on Trump and healthcare

(Reuters) - Wall Street ended mixed after a choppy session on Wednesday as investors focused on President Donald Trump's struggle to push through a healthcare bill and snapped up stocks after a steep drop the day before.

Snap pops 9 percent after winning second 'buy' recommendation

SAN FRANCISCO (Reuters) - Shares of Snap Inc jumped 9 percent on Wednesday after the owner of messaging app Snapchat received a second analyst "buy" rating following a red-hot public listing this month and with Wall Street skeptical about its lofty valuation.

Sears shares sink as investors fret over going-concern risk

(Reuters) - Sears Holdings Corp's shares tumbled as much as 16 percent on Wednesday as bondholders and investors questioned how long the storied retailer could remain in business after it flagged doubts that it could continue as a going concern.

If healthcare vote fails, would jeopardize 'Trump trades': Gundlach

NEW YORK (Reuters) - If the U.S. healthcare legislation overhaul is not passed, or is postponed, it will put "a lot of doubt" on the "Trump trades," which include higher U.S. equities and bond yields, DoubleLine Capital Chief Executive Jeffrey Gundlach said on Wednesday.

Tight supply, higher prices weigh on U.S. home sales

WASHINGTON (Reuters) - U.S. home resales fell more than expected in February amid a persistent shortage of houses on the market that is pushing up prices and sidelining prospective buyers.

SEC shortens settlement cycle for securities trades

WASHINGTON (Reuters) - U.S. securities regulators moved on Wednesday to modernize regulations that require stock and bond trades to settle within three business days, a step the industry has urged the government to take for years.

EU's Vestager says analyzing Facebook reply to WhatsApp probe

BRUSSELS (Reuters) - EU antitrust chief Margrethe Vestager said on Wednesday she was reviewing Facebook's response to charges the U.S. social network provided misleading information during its bid for messaging service WhatsApp which may result in a hefty fine for the company.

Verizon says it has suspended some digital advertising

(Reuters) - Verizon has suspended digital advertising outside of spots that show up in searches, citing brand safety concerns, the number one U.S. wireless carrier said on Wednesday.

Starbucks CEO Schultz to host last shareholder meeting

LOS ANGELES (Reuters) - Starbucks Corp co-founder Howard Schultz will host his final shareholder meeting as chief executive officer on Wednesday before Chief Operating Officer Kevin Johnson takes the helm of the global coffee chain on April 3.

Banks, Bonds, & Bullion Bid As Healthcare Hope Trumps Terror Attack Turmoil

Gartman did it again - as we warned pre-open - Which means one thing: both Goldman and Gartman are now short stocks, and expecting further selling - perhaps just the catalyst bulls were waiting for to step in and BTFD...

The machines were working over time to keep stocks up today to prove confidence in Trump and the economic hope remains...

But by the close they failed to hold The Dow green...Nasdaq surged (AAPL helped)

5 Financial Myths You Should Ignore

Authored by Richard Rosso via RealInvestmentAdvice.com,

The financial terrain is strewn with robust fables cleverly disguised as facts.

The setbacks to financial security due to stock market returns never realized, the precious time and human capital necessary to make up for market losses, the ingenious data-mining undertaken by populist gurus that want you to believe that stocks are a panacea; talking heads at big-box brokerage firms disguised as fiduciaries who make fortunes convincing investors to feel silly for being cautious.

The deck is stacked against the retail investor.

Now more than ever.

As the majority, this marketing force cranks out stories and grinds down the painful past of market events into the mist of averages. They so want investors to forget the past.

And like the destruction of so many pebbles on this road, your retirement and other financial life benchmarks are left as rubble.

The tenacious nature of outdated financial tenets is never questioned.

These rules of thumb, words that should weigh a thousand pounds each, roll off the tongues of financial pros and layman alike as lightly today as they did generations ago.

Rancid bits of wisdom preached as gospel.

Thank goodness this isn't medicine.

Sickness would still be drained by leeches.

Let's bust open the stories and myths that place your efforts to build wealth in danger.

Myth #1 - Compound interest will make you rich.

Compound interest is the coolest story ever, but that&rsq ...

4D Chess Alert: Rep. Nunes Confirms Trump Transition Team Was Under 'Incidental' Surveillance

Chairman of the United States House Permanent Select Committee on Intelligence, Devin Nunes, disclosed in a press briefing today that intelligence documents confirm that Trump and his team were victims to 'incidental' surveillance, both before and after the elections.

Rep. Nunes, said he was 'alarmed' by these new facts and would discuss them with his colleague, Rep. Schiff. What of extreme interest to note is the fact that the intelligence, according to Nunes, was of the foreign varietal -- which then later made its way into American intelligence briefings. Several weeks ago, White House press secretary, Sean Spicer, suggested that British Intelligence (GCHQ) had been asked by President Obama to spy on Trump, as a way around American surveillance laws.

Sean Spicer said his source for the GCHQ claim was none other than Judge Napolitano, who was recently suspended by Fox was pushing the narrative.

Judge Nap's source was former intelligence official, Larry Johnson, who said in an interview on CNN: "when Donald Trump tweeted what he did on Saturday two weeks ago, the next day I was interviewed on Russia Today. Now I had known about the fact that the British, through GCHQ, were passing information through back channels. This was not being done at the direction of Barack Obama, let's be clear about that. But it was being done with the full knowledge of people like [former CIA director] John Brennan and [former Director of National Intelligence] Jim Clapper. And I had been told this by two different people I know within the intelligence community in January. They were very concerned about this because they saw it as an unfair meddling into politics. But it was a way to get around the issue of American intelligence agencies not collecting."

Nunes during presser:

"I have seen ...

Dollar Index Nears Crucial Line In The Sand

The Bloomberg Dollar Index has given up almost three-quarters of the post-Trump-election gains - having tumbled for 5 days straight. However, with seemingly everything on the line in Thursday's Obamacare repeal vote, the USD index is within 1% of two crucial technical levels.

1215-1217 is a critical level of support for the Bloomberg Dollar Index...

The intersection of the 200-day moving average and a major fibonacci retracement level.

As a reminder, speculators are still extremely net long Dollars...

Is another big long-squeeze coming?

Rare Discovery: A Value in the Biotech World

Falling hepatitis C revenue has dented giants such as AbbVie and Gilead but created a rare bargain in biotech Enanta

Nike's Best Defense Is a Good Offense

Nike's scale gives it a long-term competitive advantage, which should help it win back market share.

Deal or No Deal, Akzo Shareholders Can Win From PPG Bid

Will PPG mount a third and final bid for AkzoNobel or walk away? For some investors, it doesn't matter: they can win either way.

February 2017 Headline Existing Home Growth Pace Slows

Written by Steven Hansen

The headlines for existing home sales growth pace declined saying "too few properties for sale and weakening affordability conditions stifled buyers in most of the country". Our analysis of the unadjusted data shows much of January's sharp increase in sales were wiped away with the poor February sales.

Trucking Data Mixed In February 2017

Written by Steven Hansen

Headline data for truck shipments were mixed in February - but our analysis believes trucking growth rate is improving.

Sears is closing stores, but they may not be a done deal for bargains

You can get some great deals if you're willing to make some big compromises.

Bond Report: Treasury yields touch 3-week low as market uncertainty surrounds key health-care vote

Treasury yields declined on Wednesday to their lowest levels in more than three weeks as Republican leaders struggled to convince certain conservative legislators to support their plan to repeal and replace Obamacare.

Personal Finance Daily: This is how much gun injuries cost the country and how camping has changed

Wednesday's top personal finance stories

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To contact me with questions, comments or constructive criticism is always encouraged and appreciated:

gary@econintersect.com

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