The SP 500 (+0.05%) and the DOW (-0.2%) were pressured by declines in financial stocks, while consumer discretionary shares lifted the Nasdaq (+0.3%). Contracts to buy previously owned U.S. homes jumped to a 10-month high and the greenback continued to move higher.
Here is the current market situation from CNN Money
North and South American markets are mixed today. The Bovespa is up 1.15% while the S&P 500 gains 0.08%. The IPC is off 0.56%.
$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)
LONDON (Reuters) - Banks in Britain have tried to reassure their London staff over possible Brexit disruption, including a shift in jobs to continental Europe, as Prime Minister Theresa May triggered formal EU divorce proceedings on Wednesday.
(Reuters) - Samsung Electronics Co Ltd unveiled its Galaxy S8 flagship smartphone as it battles to regain the market leadership it lost to Apple Inc after the embarrassing withdrawal of the fire-prone Note 7s.
WILMINGTON, DEL./TOKYO (Reuters) - Westinghouse Electric Co, a unit of Japanese conglomerate Toshiba Corp , filed for bankruptcy on Wednesday, hit by billions of dollars of cost overruns at four nuclear reactors under construction in the U.S. Southeast.
LONDON/DUBAI (Reuters) - OPEC oil output is likely to fall for a third straight month in March, a Reuters survey found on Wednesday, as the United Arab Emirates made progress in trimming supplies while maintenance and unrest cut production in exempt nations Nigeria and Libya.
BOSTON (Reuters) - A unit of Banco Santander SA has agreed to pay $22 million in connection with what the attorney general in Massachusetts called a first-in-the-nation settlement involving subprime auto loan securitization.
HONG KONG (Reuters) - China's economy, the world's second largest, will likely expand 6.8 percent in the first quarter of 2017, the official Xinhua agency quoted a government think tank as saying on Wednesday.
The S&P 500, Banks, Small Caps and Transportation indices continue to climb higher, as the long-term trend remains up. The two charts below, look at performance over the past month and how each index is testing long-term breakout levels.
The chart below looks at how the above mentioned indices have performed over the past 30-days.
History is full of powerful families that have left their mark on the political and economic systems of their age. During the Italian Renaissance, there were the Borgias and Medicis. In the United States, a number of families have realized America is not only the land of opportunity but also the land of wealth and dynastic power. We've had the Astors and Rockefellers, and even the Rothschilds have a foothold in the American power system.
More recently, the Koch brothers have drawn attention to themselves, and though Charles and David generally try to avoid the spotlight, their fingerprints are all over the political system. Apparently, it's tough to be the mysterious Wizard of Oz when you've bankrolled half the politicians in the Emerald City. Though they've historically backed Republicans, the pair has also opposed President Trump. Only last week, when the administration's Obamacare repeal died before a vote, it was brought down by the Freedom Caucus, a group of congressmen loyal to the Freedom Partners, a political arm of the billionaires.
However, under the Trump administration, a new family is entering the generally cemented world of D.C. power-grabbing. The Mercer family is headed by Robert Mercer, who the New Yorker characterized as "a reclusive Long Island hedge-fund manager, who has become a major force behind the Trump Pre ...
The National Association of Realtors (NAR) seasonally adjusted pending home sales index rebounded to the second highest level in a decade. Our analysis says the opposite but the rolling averages insignificantly improved. The quote of the day from this NAR release:
... Looking ahead to the busy spring months, Yun expects to see continued ebbs and flows in activity as new supply struggles to replace listings that are going under contract at a very quick pace. ...
Econintersect wants your comments,
data and opinion on the articles posted. You can also comment using Facebook directly using he comment block below.
Econintersect Live Market
Print this page or create a PDF file of this page
The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.
Take a look at what is going on inside of Econintersect.com