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22Sep2017 Market Update: Wall Street Trading In The Red As Losses In Healthcare Offset Gains In Energy, WTI Crude Remains In The 50 Handle, But Very Volatile

Written by Gary

US stock markets opened lower then eased up to the unchanged line and have since been in the red (SPY -0.1%). The major indexes are trading sideways (SP500) or are trending downward (DOW).


Here is the current market situation from CNN Money

North and South American markets are lower today with shares in Brazil off the most. The Bovespa is down 0.29% while Mexico's IPC is off 0.29% and U.S.'s S&P 500 is lower by 0.11%.

Traders Corner - Health of the Market

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.

'Unfit' Uber stripped of London license

LONDON (Reuters) - London deemed Uber unfit to run a taxi service on Friday and stripped it of its license to operate from the end of next week in a major blow to the U.S. firm and 3.5 million users in one of the world's wealthiest cities.

Without U.S., 11 nations in TPP inch closer to a deal

TOKYO (Reuters) - The 11 nations remaining in the Trans-Pacific Partnership after the United States withdrew have inched closer to a comprehensive deal, offering hope that major countries can maintain free trade in the face of U.S. protectionism, a negotiator said on Friday.

Exclusive: T-Mobile, Sprint close to agreeing on deal terms - sources

(Reuters) - T-Mobile US Inc is close to agreeing tentative terms on a deal to merge with Sprint Corp , people familiar with the matter said on Friday, a major breakthrough in efforts to merge the third and fourth largest U.S. wireless carriers.

GE nears sale of its industrial unit to ABB: Bloomberg

(Reuters) - General Electric Co is nearing a deal to sell its industrial solutions unit to Swiss engineering company ABB Ltd in a deal valued at $2.5 billion to $3 billion, Bloomberg reported, citing people with knowledge of the matter.

Wall St. flat as losses in healthcare offset gains in energy

(Reuters) - Wall Street was little changed in late morning trading on Friday as losses in financial and healthcare stocks were offset by gains in energy and industrial stocks.

Time Inc in talks to sell assets; warns on third-quarter ad revenue softness

(Reuters) - Time Inc said on Friday it was looking to sell several assets, including Time Inc UK, and warned it experienced more-than-anticipated softness in both print and advertising revenue during the current quarter.

Turkey's Pladis looks at Nestle's U.S. candy as part of expansion

LONDON (Reuters) - Pladis, the Turkish company that owns Godiva chocolate and McVitie's biscuits, is considering making an offer for Nestle's U.S. confectionery assets, which could be valued at around $2 billion, as part of its international expansion plans.

Exclusive: VW moves to secure cobalt supplies in shift to electric cars

LONDON (Reuters) - Germany's Volkswagen is moving to secure long-term supplies of cobalt, a vital component of rechargeable batteries, as the group accelerates its ambitious shift to electric cars.

Diesel's disgrace brings hybrids-for-all in race to electrify

FRANKFURT (Reuters) - Carmakers squeezed between carbon emissions cuts and falling sales of fuel-efficient diesels have used the Frankfurt auto show to spotlight a future generation of electric cars that will largely come too late to help them out of their bind.

The Race For The "Holy Grail" Of Renewables

Authored by Irina Slav via OilPrice.com,

In February, AES Energy's Escondido battery storage facility in California was hailed as the largest one to date, with a capacity of 30 MW/120 MWh. Now, Tesla is building a bigger one—100 MW/129 MWh—in Australia.

On the face of it, it's a race for the bigger battery storage system. But there's much more to it than that.

The race is on for increasingly reliable, grid-scale, quick-to-install energy storage solutions that will make the shift to all-renewable power much more realistic. In this, factors such as renewable-friendly regulation and integration of storage systems with renewable power generation capacity can tip the energy transformation scales.

California is one of the places to be if you're a renewables fan. Its authorities have ambitious plans in this regard, eventually hoping to replace all fossil-fuel generation capacity with renewables. Wholly reliable grid-scale storage systems ...

It's Not Just China: No Lines For New iPhone 8 Virtually Anywhere

Earlier we showed that in a striking lack of enthusiasm for Apple's latest offering, the iPhone 8 which went on sale today, there were just two people in "line" in front of an Apple store in China: less than the security guards at the same location.

Unfortunately for Tim Cook, it appears that it was not just China as the entire world appears to have gotten collective cold feet when it comes to Apple's newest gizmo, because while Apple Stores are usually faced with shockingly long lines on the morning of a new iPhone launch, that wasn't the case today. Anywhere.

As various reports have pointed out, some Apple Stores have very short lines out front for the iPhone 8, if they have anyone at all. According to Reuters, that there were fewer than 30 people at Apple's Sydney store, which usually has hundreds out front. And it described a "less lively mood in Asia" than for previous launches.

In California, ABC7 reporter Chelsea Edwards posted a photo from outside of an Apple Store with no one in front of it.

Where's the line? Apple's #iPhone8 & #iPhone8Plus are being released today...but where are all the @Apple fans? Thoughts? @ABC7 pic.twitter.com/P1 ...

Look Around! Common Law Works. Government Statute Doesn't.

Via The Daily Bell

How can something be considered a crime if there is no victim?

This is a problem. You can go through life making sure you don't hurt anyone, and still break the law. Wouldn't that be great if you could simply base your actions on common sense and respect for the standards of a community?

Instead, people must also make sure they don't do anything labeled wrong by the government. Of course, it is impossible to know all the laws which the government has created. And what they call wrong is not always intuitive, nor offensive.

Government statute law goes beyond the resolution of disputes between individuals and groups. In contrast, the whole point of common law was to settle disputes in non-violent ways.

China Fears "Vicious Circle" On Korean Peninsula, US Sees "Tipping Point" If Kim Tests H-Bomb Over Pacific

In a considerably more aggressive, and less diplomatic, 'story' in China's government mouthpiece Xinhua, writers warn:

"It is not hard to tell that the situation has become a vicious circle where more missile tests trigger more sanctions, while more sanctions trigger more tests..." urging the double-freeze solution once again, saying that "the parties concerned need to respect each other's security concerns."

At this moment, the United States and the DPRK, two key actors in the denuclearization of the Korean Peninsula, should stay calm and exercise restraint, and avoid any provocative action or rhetoric that might further escalate tensions.

Political courage, wisdom and a responsible attitude are required to address the current crisis, instead of provocations or threats.

However, following last night's less than veiled threat from North Korea that the next escalation will be to test a hydrogen-bomb over the Pacific:

North Korean Foreign Minister Ri Yong Ho suggested leader Kim Jong Un was considering testing "an unprecedented scale hydrogen bomb" over the Pacific in response to U.S. President Donald Trump's threat at the United Nations to "totally destroy" the country.

What If Apple's Supercycle Isn't So Super

Early concerns about Apple's iPhone 8 and cell-connected watch provide a rough start to what needs to be a big year.

Death of World's Richest Woman Sets Stock Scramble in Motion

L'Oréal billionaire Liliane Bettencourt's passing opens the door to shareholder-friendly maneuvers at some of Europe's most storied companies.

Nintendo Switches on the Growth

Japanese videogame maker Nintendo is having another renaissance, but execution remains an obstacle to realizing investors' lofty expectations.

Europe Markets: European stocks finished in the green after strong PMIs

European stocks edge mostly higher Friday, with upbeat economic data helping the market to move past weakness stemming from the latest round of tensions between North Korea and the U.S.

The Wall Street Journal: Why financial advisers are not asking the right questions when it comes to 'risk tolerance'

Advisers may be measuring something completely different—often leading to misguided investment strategies

The Wall Street Journal: Spending alerts don't work for the people who need them the most

Apps designed to curb spending make tightwads even tighter, but have no effect on others

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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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