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27Jul2017 Market Update: Wall Street Continued Its Record Run Today, New Records Set, WTI Crude Climbs Into The Low 49 Handle

Written by Gary

US major market indexes unexpectedly made new historic highs right after the opening bell. Early afternoon trading (SPY -0.3%) ...

Here is the current market situation from CNN Money

North and South American markets are mixed. The Bovespa is higher by 0.78%, while the IPC is leading the S&P 500 lower. They are down 0.51% and 0.42% respectively.

... shows the markets declining and heading towards the unchanged line. The heaviest day of earnings reports, particularly from Facebook and Verizon pushed the markets higher.

What Is Moving the Markets

Here are the headlines moving the markets.

Wall Street adds to record rally on strong earnings

(Reuters) - Wall Street continued its record run on Thursday, powered by a barrage of strong quarterly earnings, particularly from Facebook and Verizon.

U.S. durable goods, trade data boost second-quarter growth estimate

WASHINGTON (Reuters) - Shipments of key U.S.-made capital goods increased in June for a fifth straight month, suggesting that business spending on equipment helped to boost economic growth in the second quarter.

Exclusive: Not Made in America - Wal-Mart looks overseas for online vendors

CHICAGO (Reuters) -, trailing Inc in the number of goods for sale on its website, is recruiting vendors in China and other countries to boost its online offerings in a pivot away from Wal-Mart's Made-in-America campaign.

Exclusive: Saudi Aramco advisers favor London for historic IPO - sources

DUBAI/LONDON (Reuters) - Saudi Aramco's advisers have recommended London for the historic listing of the oil company, with U.S. disclosure rules a concern for Saudi authorities, sources familiar with the matter told Reuters.

Germany recalls Porsche Cayenne models over illegal emissions software

BERLIN (Reuters) - German Transport Minister Alexander Dobrindt on Thursday announced a recall of Porsche 3-litre Cayenne cars after finding illegal emissions controlling software in the vehicles.

Facebook shares surge as results quash fears of slowing growth

(Reuters) - Shares of Facebook Inc touched a record high on Thursday on the back of overwhelmingly positive quarterly results, adding more than $27 billion to its market value.

U.S. regulators to approve fix for more than 300,000 VW diesels: sources

WASHINGTON (Reuters) - The U.S. Environmental Protection Agency and California Air Resources Board will approve later on Thursday a fix for more than 300,000 older Volkswagen AG diesel cars, two people briefed on the matter said.

Wells Fargo moves more auto staff to central hubs, eyes rebranding: memo

(Reuters) - Wells Fargo & Co is making more structural and management changes to its auto lending unit, according to an internal memo viewed by Reuters, part of the bank's effort to control risk more effectively. The latest overhaul will phase out 57 regional offices across the United States and eliminate the positions of those regional managers, according to the memo.

'High Times' ready to roll with public offering

(Reuters) - The publisher of marijuana enthusiast magazine, "High Times," plans to take the company public, High Times Holding Corp announced Thursday, as an increasing number of U.S. states legalize the drug.

Tech Wreck 2.0? FANG Stocks Suddenly Slammed, Nasdaq Dives, VIX Spikes

VIX is suddenly spiking higher and stocks lower - amid no obvious catalyst...

Nasdaq is tumbling...

As Dow Transports suffer their second biggest drop in 10 months...

And FANG Stocks dive...

NFLX and GOOGL are the big laggards today/this week...

We note that Bloomberg reported earlier that gains for Facebook and account for about two-thirds of the S&P 500's 5 point gain.

Do Algos read Howard Marks ...

The 'Failing New York Times' Crushed Earnings; Stock Hits 10 Year Highs Thanks to Trump

Content originally published at

Since election night, the stock price of the 'failing Ny Times' is up a little more than 75%. Their online subscriptions have been soaring and business is booming -- all thanks to President Trump.

Palace intrigue is the culprit. For those of you that still believe the MSM is dying, I am here to tell you otherwise. The final redpill is knowing that Trump was elected to bailout the main stream media and convert democrats into deep state loving war mongers.

The NYT reported earning this morning, beating estimates -- helped by a 63% jump in online subscriptions.

Reports Q2 (Jun) earnings of $0.18 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus of $0.14; revenues rose 9.3% year/year to $407.1 mln vs the $393.07 mln Capital IQ Consensus.

Paid digital-only subscriptions totaled approximately 2,333,000 at the end of the second quarter of 2017, a net increase of 114,000 subscriptions compared to the end of the first quarter of 2017 and a 63.4 percent increase compared to the end of the second quarter of 2016.

Second-quarter print advertising revenue decreased 10.5 percent, while digital advertising revenue increased 22.5 percent. Digital advertising revenue was $55.2 million, or 41.7 percent of total Company advertising revenues, compared with $45.0 million, or 34.3 percent, in the second quarter of 2016.

Guidance: Total subscription revenues in the third quarter of 2017 are expected to incre ...

Graham Dares Trump: "Holy Hell To Pay if You Fire Sessions"

Threat, promise, or red flag to a bull?

After a few days of non-stop tirades against current Attorney-General Jeff Sessions by President Trump, increasing numbers of Republicans are coming out in support of the "beleauered" AG urging Trump to stop.

As Bloomberg reports, a number of Republicans have called White House officials - and even Trump personally - to warn against removing Sessions, according to a Senate GOP aide who asked not to be identified discussing the private conversations. Their message has been that Sessions is universally liked on Capitol Hill and that removing him would be one of Trump's biggest mistakes as president.

But, just in case the message from senior Republicans was not getting to the President, Republican Senator Lindsey Graham of South Carolina told CNN on Thursday morning...

WATCH: "Any effort to go after Mueller could be the beginning of the end of the Trump presidency," says Sen. Lindsey Graham.

— NBC News (@NBCNews) July 27, 2017

"If Jeff Sessions is fired, there will be holy hell to pay."

Graham described as "chilling" a tweet posted by Senate Judiciary Chairman Chuck Grassley late Wednesday in which the Iowa Republican said there was "no way" his panel would consider the nomination of a replacement for Sessions.

Russia To Stay In Syria For The Next 50 Years

While the Trump administration appears set to withdraw US troops from Syria in the not too distant future, as hinted by the recent decision to reverse the Obama-era decision to stop arming "moderate rebels" fighting the Assad regime, Vladimir Putin has a slightly different strategic vision for the proxy war-torn nation.

On Wednesday, the Russian president signed a law ratifying a deal with the Syrian government allowing Russia to keep its air base in Syria for almost half a century, Reuters reported.

Under the original deal signed in this January in Damascus, Russia can use its Hmeymim air base in Latakia Province which it has used to carry out air strikes against forces opposing President Bashar al-Assad, Russia could modify the terms of its presence in the country. So with the US on its way out, Putin made it clear that clear that Russia isn't going anywhere from the one nation that has emerged as a key regional presence for Russia in the middle-east.

The Russian president approved the agreement on Wednesday, after the two chambers of the Russian parliament backed it earlier this month, according to the government's official information portal. The document says Russian forces will be deployed at the Hmeymim base for 49 years with the option of extending that arrangement for 25-year periods.

The Hmeymim airbase has been at the heart of Moscow's military foray since it intervened in the conflict in September 2015, helping turn the tide in favor of Assad, as well as disrupt key ISIS oil supply lines which have resulted in the imminent collapse of the Islamic State.

The Bull Market's Growth Problem

Under the hood of the stock market rally, signs the 8-year bull market may be nearing its end.

Deutsche Bank No Longer Reeling, but Recovery Out of Sight

Deutsche Bank is finding firmer ground, but first-half revenues disappointed and there was little to suggest investors have anything other than a long wait for better returns.

AstraZeneca Shocker Reminds Investors Miracle Drugs Are No Remedy for Risk

Chasing exciting new developments in medicine can be a very expensive endeavor. Such is the takeaway from AstraZeneca's announcement that a hotly anticipated clinical trial didn't meet expectations.

Economic Report: Mortgage rates slide despite Fed's 'relatively soon' warning

Rates for home loans slid to the lowest in four weeks, breaking with a surge in Treasury yields and pushing the benchmark further below a key threshold, Freddie Mac said Thursday.

Europe Markets: European stocks clipped by earnings reports, euro strength

European stocks end modestly lower Thursday as investors send shares of German lender Deutsche Bank AG down and those for Anheuser-Busch InBev SA's and Diageo higher amid a barrage of corporate quarterly results.

The Wall Street Journal: Mnuchin not planning to prioritize debt payments

Treasury Secretary Steven Mnuchin told lawmakers Thursday he has "no intent" to prioritize certain government payments and delay others if Congress fails to raise the federal borrowing limit.

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