U.S. stocks climbed higher in late-morning trading in a sea-saw action, with the Dow Jones Industrial Average aiming to snap an eight-day losing streak, as investors welcomed better-than-expected economic releases including a report on confidence.
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 0.57% while Brazil's Bovespa is up 0.32% and Mexico's IPC is up 0.23%.
$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)
Markets move inverse to institutional selling and this NYA Index is followed by Institutional Investors
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) - U.S. consumer confidence surged to a more than 16-year high in March amid growing labor market optimism while the goods trade deficit narrowed sharply in February, suggesting the economy was regaining momentum after faltering at the start of the year.
WASHINGTON (Reuters) - U.S. President Donald Trump's administration has billed his move to re-open federal lands to new coal leases as a win for miners seeking to expand production. But a review of company filings shows that coal miners with the most to gain already have enough leases in hand to last well over a decade.
TOKYO (Reuters) - U.S. nuclear developer Westinghouse Electric Co plans to seek bankruptcy protection from creditors on Tuesday as it struggles with losses that have thrown its Japanese parent Toshiba Corp into crisis, people familiar with Toshiba's thinking said.
DETROIT (Reuters) - China's Tencent Holdings Ltd has bought a 5 percent stake in U.S. electric car maker Tesla Inc for $1.78 billion, the latest investment by a Chinese internet company in the potentially lucrative market for self-driving vehicles and related services.
LONDON (Reuters) - While banks warn Britain's European Union divorce could drive the pound below $1.20, their option traders have cut the cost of insuring against further falls in the two years it has left inside the bloc.
Below looks at the performance of Silver, Gold and the S&P 500 year to date. Metals and miners are off to a good start in 2017. Even though the stock market has received a good deal of attention this year, metals have done even better. Is the performance in 2017 the start of something even bigger for Silver & Gold?
A day ahead of UK PM Theresa May's timeline for submitting Article 50 and beginning formal Brexiut procedures, Scottish parliament just voted 69 to 59 in facor of a second Scottish independence referendum. While somewhat expected, cable is lagging on the news...
As AP reports, Scottish lawmakers have voted to seek a new referendum on independence, to be held within the next two years.
The Scottish parliament voted 69-59 to back First Minister Nicola Sturgeon's call to ask the British government for an independence vote.
Sturgeon says Scots must be given the chance to vote on their future before Britain leaves the European Union. British Prime Minister Theresa May plans to launch the U.K's two-year process to exit the EU on Wednesday by triggering Article 50 of the bloc's key treaty.
"Scotland's future should be in Scotland's hands," Sturgeon told lawmakers in the Edinburgh-based parliament.
Scottish voters rejected independence in a 2014 referendum that Sturgeon's Scottish National Party called a once-in-a-generation vote. But Sturgeon says Brexit has changed the situation dramatically.
She says there should be a new vote on independence between fall 2018 and spring 2019, when details of Britain's divorce terms with the bloc are clear.
Notably, May, whose government must approve the referendum for it to be legally binding, says the time is not right. She says all parts of the ...
In its latest, January, update of US home prices, Case-Shiller reported that the unadjusted 20 city composite index, rose at a 5.9% annual rate, up from 5.7% last month and setting a 31-month high. Perhaps even more notable is that in 17 of 20 metro areas, the pace of home appreciation over the past year was 5% or higher, or more than double the pace of core inflation. And with rents continuing to soar across the country, in many cases at a double digit clip, not to mention exploding healthcare costs, one wonders just what the BLS "measures" with its monthly CPI update.
In any case, for those lucky Americans who can afford to own a house instead of being stuck renting the New Normal American dream where they are prohibited from peddling fiction as their annual rent increases by 10% or more each year, here is the breakdown of the best and worst cities for home price appreciation in the U.S.
At the top, with annual price increases of 10% or more, we find the usual west coast (and thus closest to China) suspects: Seattle and Portland, followed close behind by Denver and Dallas, which appears to be enjoying the recent revival in shale. What is more surprising is that on the other end we find Cleveland, Washington and - of all places - New York, which was dead last with only 3.2% annual price appreciation.
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