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28Jun2017 Market Update: Wall Street Up Sharply, DOW Up Triple Digits, Crude Prices Climbing And The US Dollar Is Down -0.4 Percent

Written by Gary

The SP 500 and the DOW were on track for their best one-day percentage gain in about two months today (SPY +1.0%) as financial stocks led a broad rally. The Nasdaq has risen more than 1.3 percent and WTI also rose above one percent.


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 0.95% while Brazil's Bovespa is up 0.36% and Mexico's IPC is up 0.23%.

Traders Corner - Health of the Market

Pending home sales tumble as supply crisis worsens

Dow surges more than 150 points as bank shares jump

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.

What Is Moving the Markets

Here are the headlines moving the markets.

Wall St. rises as bank stocks gain, tech rebounds

(Reuters) - The S&P 500 and the Dow Jones Industrial Average were on track for their best one-day percentage gain in about two months on Wednesday as financial stocks led a broad rally, while the Nasdaq rose more than 1 percent as tech stocks rebounded.

Meal-kit company Blue Apron slashes IPO valuation expectations

(Reuters) - Blue Apron Holdings Inc slashed its valuation expectations for its initial public offering by a third on Wednesday, as Amazon.com's $13.7 billion deal to buy Whole Foods Market Inc weighed on prospects for the meal-kit industry.

Canada's top court rules Google must block some results worldwide

OTTAWA (Reuters) - Canadian courts can force internet search leader Google to remove results worldwide, the country's top court ruled on Wednesday, drawing criticism from civil liberties groups arguing such a move sets a precedent for censorship on the internet.

Alibaba spending $1 billion to raise stake in Southeast Asia's Lazada

SINGAPORE (Reuters) - Chinese e-commerce company Alibaba Group Holding is investing an additional $1 billion in Southeast Asian online retailer Lazada Group, boosting its stake by nearly a third to 83 percent and amplifying its focus on the region.

Despite weak oil prices, OPEC still pockets more dollars

LONDON (Reuters) - With world oil inventories swelling despite a global pact on cutting output and crude prices falling by a fifth in the past month, OPEC appears to be losing its battle to balance the market.

Exclusive: Halliburton in talks to buy billionaire Kaiser's equipment firm - sources

HOUSTON (Reuters) - Halliburton Co is in late-stage talks to acquire a fast-growing U.S. oilfield equipment supplier backed by Oklahoma energy and banking billionaire George Kaiser, according to sources familiar with the matter.

Meat processor cuts deal with ABC in 'pink slime' defamation case

(Reuters) - Beef Products Inc has settled a closely watched defamation lawsuit against American Broadcasting Co and its reporter Jim Avila, the meat processor said on Wednesday.

BMW to streamline car equipment levels to pay for R&D

MUNICH (Reuters) - BMW will streamline its manufacturing process, offering fewer variants of engines and equipment, to offset high research and development (R&D) spending through 2019, the German carmaker's finance chief Nicolas Peter said on Wednesday.

FedEx says operations at TNT Express disrupted after virus attack

(Reuters) - Package delivery company FedEx Corp said on Wednesday operations in its TNT Express unit were disrupted after its information systems were hit by a virus attack.

Ethereum Soars 30%, Tops $300 After WEF Blockchain Report

Mike Novogratz said yesterday that he would be adding if Ether dropped near $200, and as it did overnight, a bid appeared and helped by positive comments in a World Economic Forum whitepaper on "realizing the potential of blockchain," Ethereum has exploded higher, topping $300.

Quite a reversal...

While the catalyst is unknown, CoinTelegraph reports that The World Economic Forum (WEF) today published a dedicated Blockchain report detailing how the technology will flow into the global economy.

Described as a white paper, Realizing the Potential of Blockchain provides background and suggestions as to how Blockchain will propagate throughout the world's infrastructure.

From business to regulation, how disruptive innovation can be harnessed is forming an increasingly debated topic for international enterprises.

"This report helps us to understand that a distributed blockchain ecosystem need not be a diso ...

Think Small- Bullish breakout for Micro Caps!

think

So far this year, Small & Micro Cap ETF's are lagging the S&P 500. Over the past month the opposite is taking place, as small and micro caps have been stronger. Below takes a peak at micro cap ETF (IWC) and the potential bullish pattern it is attempting to breakout from.

Micro cap etf IWM chart, kimble charting solutions

Selective enforcement of Federal Law, the tragic cases of Sam Girod and Donald Trump.

"All animals are equal, but some animals are more equal than others."
-George Orwell, Animal Farm'

In two days, the FDA and a federal judge are going to put a Kentucky farmer and grandfather, Samuel Girod, in jail for up to 68 YEARS with up to $3M in fines for charges related to selling a homemade herbal salve.

From: http://www.kyfreepress.com/2017/03/updated-sam-girod-v-fda/

Samuel Girod [G as in Gee: gi-ROD] and his family have been making and selling three all-natural herbal products for nearly 20 years.

No one has ever been harmed by the products; the Girods have pages of testimonials and scores of repeat customers.

Similar products are currently made and sold online worldwide (including on Amazon) by other people using the same or similar basic ingredients. The recipes are online as well, you can make them in your kitchen.

In 2001, an FDA agent informed Sam that his product labels were making medical claims regarding healing certain conditions. At the time, Sam's label said, ""[g]ood for all skin disorders. Skin cancer, cuts, burns, draws, and poison ivy."

Sam had to change his label, removing the skin cancer cla ...

3 Out Of 4 US Energy Firms Were Hacked In 2016

Authored by Zainab Calcuttawala via OilPrice.com,

Hackers have targeted Russian oil giant Rosneft, the company said on Tuesday, just as Deloitte released a report on cyber-attacks targeting U.S. oil companies.

A "powerful hacker" attacked the company's server in an assault that, according to TASS news agency, could be related to ongoing legal proceedings.

A Russian court recently froze assets of a holding company called Sistema as part of a suit lodged by Rosneft and Bashneft. The two companies are trying to recover $2.9 billion lost during Sistema's 2014 restructuring.

Russian companies are not the only ones facing the new frontier in corporate espionage. U.S. consulting major Deloitte released a report on Monday that said American energy companies showed "limited strategic appreciation" for cyber-threats.

Analysts said three of every four U.S. oil and gas companies experienced a cyber-attack in 2016, but only a few firms said the computerized attacks posed a major s ...

Central Banks Give Sleepy Markets a Wake-Up Call

The U-turn in bonds is a sign that investors haven't been paying attention to what central banks have been saying.

Nestlé's $21 Billion Buyback Not as Sweet as Can Be

Investors increasingly seem to expect the same sugar rush from Nestlé that they have got this year from Unilever. But that comparison shouldn't be pushed too far.

Toshiba Can't Get Best Deal If It Doesn't Talk to Western Digital

Toshiba needs to sell its memory-chip business in an expeditious way. Amping up a legal fight with its longtime joint venture partner seems an odd way to get things done.

May 2017 Pending Home Sales Seasonally Adjusted Index Declines For the Third Month

Written by Steven Hansen

The National Association of Realtors (NAR) seasonally adjusted pending home sales index declined. Our analysis is mixed. The quote of the day from this NAR release:

... Monthly closings have recently been oscillating back and forth, but this third consecutive decline in contract activity implies a possible topping off in sales ...

Europe Markets: European stocks finish at 2-month lows as central banks jolt currencies

European stocks closed at a two-month low, with the euro pulled lower intraday while the pound leapt as investors reassessed policy stances at both the European Central Bank and the Bank of England.

6 ways giving away your money improves your life

It's easier than you think to give your time, treasures or talents to something you care about.

BookWatch: What's the one best book to learn about investing?

Meb Faber's readers have lots of "best" books to suggest.

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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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