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19Sep2017 Market Update: Wall Street's Trumps' Rally Continues To Amaze, WTI Crude Slips Into The High 49 Handle, US Dollar Volatile

Written by Gary

US markets plow ahead with new highs as the DOW continues to trend upward going into the afternoon trading (SPY +0.1%). The SP 500 has reached uncharted territory atop the 2,500 mark, confirming its primary uptrend, writes Michael Ashbaugh.


Here is the current market situation from CNN Money

North and South American markets are mixed. The S&P 500 is higher by 0.15%, while the Bovespa is leading the IPC lower. They are down 0.53% and 0.02% respectively.

What Is Moving the Markets

Here are the headlines moving the markets.

Toys 'R' Us seeks bankruptcy to survive retail upheaval

(Reuters) - Toys 'R' Us Inc, the largest U.S. toy store chain, which filed for bankruptcy late Monday, will ask a judge on Tuesday for permission to borrow money so that it can start paying suppliers to ensure it has Lego building blocks and Barbie dolls for the holiday season.

T-Mobile, Sprint in merger talks: CNBC

(Reuters) - U.S. wireless carriers T-Mobile US Inc and Sprint Corp are said to be in active merger talks, CNBC reported on Tuesday, citing sources.

Kohl's to accept Amazon returns in 82 stores

(Reuters) - Department store operator Kohl's Corp said select merchandise bought from Amazon.com Inc can be returned at 82 Kohl's stores in Los Angeles and Chicago, starting October, further strengthening its partnership with the ecommerce giant.

Wall St. little changed as investors focus on Fed meeting

(Reuters) - U.S. stocks were little changed on Tuesday as investors held back from making major bets ahead of the Federal Reserve's policy meeting that is expected to roll out a plan to pare the central bank's debt holdings.

Massachusetts sues Equifax for not protecting state residents

(Reuters) - Massachusetts Attorney General Maura Healey filed a lawsuit on Tuesday against credit reporting firm Equifax Inc following a breach that exposed the personal data of as many as 143 million people, including 3 million in the state.

Retailers boost holiday hires in stores to help tackle online sales

(Reuters) - Major retailers are looking to stimulate anemic sales by hiring thousands of more workers this holiday season to improve customer service on their sales floors and handle the fast-growing use of their stores to fulfill online orders.

With new operating system, Apple revamps its money-making App Store

(Reuters) - Apple Inc's newest operating system for iPhones and iPads introduces changes to its marketplace for third-party software to satisfy app developers and add new so-called augmented reality apps.

Volvo Cars plans U.S. plant expansion, doubling investment: source

STOCKHOLM (Reuters) - Volvo Cars is doubling investment in its first U.S. plant under construction to add a second production line at a total cost of $1 billion, a source with knowledge of the plans said, as the carmaker heads for a fourth straight year of record sales.

Walgreens gets regulatory nod for slimmed-down Rite Aid deal

(Reuters) - U.S. antitrust regulators have allowed a slimmed-down deal for drugstore chain Walgreens Boots Alliance Inc to buy about 42 percent of Rite Aid Corp's U.S. stores for $4.38 billion, Walgreens said on Tuesday.

The Dangers Of Performance-Chasing

Authored by Lance Roberts via RealInvestmentAdvice.com,

In this past weekend's newsletter, I addressed three of my concerns for the markets going forward.

"Chart 2) One of the hallmarks of a late-stage bull market cycle is the acceleration in price as investors capitulate by "jumping in" as prices accelerate. While the long-term moving averages currently suggest the bull cycle is intact, we will watch for the crossover to give us an indication of when to leave."

The acceleration in the increase of prices is a hallmark of "exuberance" in the markets. Not surprisingly, the sharp increase in asset prices, as the markets broke through successive barriers of 2200, 2300, 2400 and 2500, has spurred investor optimism to the highest levels in 17-years as noted last week:

Trump's "Fiery" United Nations Speech: Full Transcript

In a speech that commentators have said "the likes of which have never been heard by a U.S. leader in the United Nations", President Trump did not disappoint expectations that his first appearance at the UN would be a fiery, memorable affair, and while laying out his view for a "nationalist" basis to US foreign policy, focusing on state sovereignty as the framework for the "great revival of nations" and future international relations while vowing to "always put America first", Trump slammed "the scourge of our planet which is a group of rogue regimes" listing North Korea, Iran, Venezuela, while also taking shots at Saudi Arabia and China.

In a forceful endorsement of nationalism around the world, Trump called for a "great reawakening of nations, for the revival of their spirits, their pride, their people and their patriotism."

Saying that "major portions of the world are in conflict and some, in fact, are going to hell", Trump's most memorable comment was that the United States will be forced to "totally destroy" North Korea unless Pyongyang backs down from its nuclear challenge, mocking North Korean leader Kim Jong Un as a "rocket man" on a suicide mission, a comment which was followed by loud murmuring around the assembly.

"If it the US forced to defend itself or its allies, we will have no choice but to totally destroy North Korea. Rocket man is on a suicide mission for himself and his regime" adding that North Korea's pursuit of nuclear weapons and ballistic missiles "threatens the entire world with unthinkable cost of human life."

In his first, 41-minute long appearance at this annual gathering of world leaders, the president also took aim at Iran's nuclear ambitions and regional influence, Venezuela's collapsing democracy and the threat of Islamist extremists, while also criticizing the Cuban government.

On Iran, which he called an "economically depleted rogue state that exports violence" Trum ...

The World Is Creeping Toward De-Dollarization

Authored by Ronald-Peter Stoferle via The Mises Institute,

The issue of when a global reserve currency begins or ends is not an exact science. There are no press releases announcing it, and neither are there big international conferences that end with the signing of treaties and a photo shoot. Nevertheless we can say with confidence that the reign of every world reserve currency has to come to and end at some point in time. During a changeover from one global currency to another, gold (and to a lesser extent silver) has always played a decisive role.

Central banks and governments have long been aware that the dollar has a sell-by date as a reserve currency. But it has taken until now for the subject to be discussed openly. The fact that the issue has been on the radar of a powerful bank like JP Morgan for at least five years, should give one pause. Questions regarding the global reserve currency are not exactly discussed on CNBC every day. Most mainstream economists avoid the topic like the plague. The issue is too politically charged. However, that doesn't make it any less important for investors to look for answers.

On the contrary. The following questions need to be asked:

What indications are there that the world is turning its back on the US dollar?

And what are the clues that gold's role could be strengthened in a new system?

The mechanism underlying today's "dollar standard" is widely known and the term "petrodollar" describes it well. This system is based on an informal agreement the US and Saudi Arabia arrived at in the mid-1970s. The result of this deal: Oil, and conseque ...

Biggest Hedge Fund Manager In The World Warns "Bitcoin Is A Bubble", Says Gold Is Money

Bridgewater Associates founder Ray Dalio, the 68-year-old founder of the world's largest hedge fund, said bitcoin is "in a bubble" during an interview on CNBC Tuesday morning, arguing that the so-called currency is too difficult to spend, and too volatile to be a useful store of value.

During the interview, Dalio argued that most investors who buy the digital currency do so with the hope of making a quick speculative profit, undermining bitcoin's functionality as a currency.

"There are two things that are required for a currency. The first thing is that you can transact in it, it's a medium of exchange. The second thing is it's a store of value. Bitcoin today...you can't spend it very easily.

In terms of a storehold of wealth, it's not an effective storehold of wealth because it has volatility to it. Unlike gold, let's say, which reflects the value of money, its more stable than the value of money, bitcoin is a highly speculative market."

Dalio added that he doubts that governments will allow bitcoin transactions to remain anonymous in perpetuity. The IRS has sued Coinbase, a popular US bitcoin exchange, demanding records on client transactions - a decision that many in the community saw as the beginning of the US government's effort to unmask the currency's users. Aleady, using sophisticated blockchain analysis techniques, US authorities have been able to trace bitcoins back to their respective owners, making it more difficult for tax cheats and money launderers to use the digital currency to facilitate their crimes.

"The idea that it will be private in terms of transaction...i ...

The Hidden Obamacare Detail That Could Cost Hospitals Billions

A seemingly arcane detail of Obamacare could put significant cost pressure on hospital companies and eventually drug and medical device makers.

How to Make Money on the Chinese Internet

Activist investor Aristeia Capital shows the way for New York-listed Sina to unlock long-trapped value in subsidiary Weibo.

Pirelli IPO: Are Expensive Tires Worth It?

Car tires can be surprisingly glamorous. But investors may be better off waiting before buying into Italian tire-maker Pirelli.

August 2017 Import and Export Price Year-over-Year Inflation Significantly Increases

Written by Steven Hansen

Import and export price inflation continues with import prices and export prices up significantly.

Jack Bogle's advice on stocks proven right again — this time, by science

A new study of our innate human biases reinforces the value of diversification when it comes to stock investing.

The Technical Indicator: Bull trend confirmed, S&P 500 reaches uncharted territory ahead of the Fed

The S&P 500 has reached uncharted territory atop the 2,500 mark, confirming its primary uptrend, writes Michael Ashbaugh..

This person asked the internet if it was necessary to save so much for retirement — the response was surprising

Maybe people do prioritize saving.

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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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