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15Nov2017 Market Update: Wall Street Recovers Fractionally From Opening Woes, DOW Down Triple Digits As Energy Stocks Hit By Oil Slide, WTI Steady In The High 54 Handle, Gold Index Falls Off Morning Session Highs

Written by Gary

US equities market's main indexes were lower in early afternoon trading as energy stocks remained under pressure after oil prices fell for a fourth straight day.


Here is the current market situation from CNN Money

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.

Wall Street down as energy stocks hit by oil slide

(Reuters) - Wall Street's main indexes were lower on Wednesday as energy stocks remained under pressure after oil prices fell for a fourth straight day.

Justice Department approaches states to block AT&T-Time Warner deal: source

WASHINGTON (Reuters) - The U.S. Justice Department has approached state attorneys general to try to win their support for a bid to block telecommunications powerhouse AT&T Inc's $85.4 billion deal to buy media and entertainment company Time Warner Inc, a person briefed on the matter told Reuters on Wednesday.

Target signals another weak holiday quarter, shares tumble

(Reuters) - Target Corp's holiday-quarter profit forecast fell short of analyst expectations, sending its shares down 10 percent on Wednesday as hopes faded that the retailer would make a shopping season comeback.

Shareholders take aim at Murdochs with Fox voting rights push

NEW YORK (Reuters) - A shareholder proposal calling for Twenty-First Century Fox Inc to do away with its dual-class share structure may inflict a symbolic black eye on the media company's founder Rupert Murdoch and his family at its annual meeting on Wednesday.

Record Airbus order as Franke ups bet on budget airlines

DUBAI (Reuters) - Airbus hailed its biggest ever airliner deal on Wednesday with an umbrella agreement to sell 430 planes worth up to $50 billion to U.S. budget airlines investor Bill Franke.

Amazon cuts prices again at Whole Foods ahead of the holidays

(Reuters) - Amazon.com Inc said on Wednesday it will offer more discounts and steeper price cuts at Whole Foods Market on many organic foods and groceries popular during the holidays.

Tesla says it will fight lawsuit claiming racial discrimination

(Reuters) - Tesla Inc said on Wednesday it would fight a class-action lawsuit filed against it earlier this week claiming the electric automaker's California production plant was a "hotbed for racist behavior."

GM challenges Tesla with promise of profitable electric cars

(Reuters) - General Motors Co plans to launch a new family of electric vehicles in 2021 that will cost less to build and make a profit for the U.S. No. 1 automaker, Chief Executive Mary Barra told investors on Wednesday.

Boeing in 175 plane deal with budget carrier flydubai

DUBAI (Reuters) - Boeing Co. reached a preliminary deal for 175 of its 737 MAX jets with flydubai on Wednesday, potentially committing the budget airline's fleet to the U.S. planemaker for another decade.

Forget Bitcoin: This Nanocap Stock Is Up 500% Today (& Nobody Knows Why)

Forget Bitcoin; ignore Roku... it's time to look at nano-cap medical device-maker CHF Solutions - which is up almost 500% today on absolutely no news whatsover...

$10mm market cap, CHF Solutions, Inc. distributes health care products. The Company provides commercialization of medical devices for the treatment of fluid overload, heart failures, and other cardiac diseases. CHF Solutions serves customers in the United States.

Efficient markets... (halted 14 times so far)

Over 100x the average volume and as Doug House explains, no particular news accounts for the action.

Two days ago, it filed an amendment to a prospectus for a potential offering of preferred stock, common stock and warrants.

Puerto Rico Bond Prices Plunge Below Venezuela's On Moratorium Fears

Which is worse - from a bond market perspective - Socialist utopia Venezuela or debt-bloated Puerto Rico?

Of course, comparing price is not a fair comparison in bond land...

Nevertheless, the collapse in Puerto Rico bond prices - to new record lows - comes as Bloomberg reports Puerto Rico is considering suspending debt-service payments for five years, a lead lawyer for the territory's federal oversight board said, in the first indication of how the devastation caused by Hurricane Maria will affect the restructuring of the island's debt.

A moratorium may be included as part of Puerto Rico plan to cut its debts in bankruptcy, Martin Bienenstock, a partner at Proskauer Rose LLP who represents the panel, said at a court hearing Wednesday in Manhattan.

"It stands to be seen whether in five years they can stand back on their own feet," said Matt Dalton, chief executive officer of Rye Brook, New York-based Belle Haven Investments, which manages $6.5 billion of municipal bonds, including insured Puerto Rico debt.

"If it takes them three months to get power back on in the island, saying that they can make debt payments in five years seems aggressive."

< ...

European Stocks Suffer Longest Losing Streak In Over A Year (As EU Credit Crashes)

European Stocks are back at 2-month lows after falling for 7 straight days - the longest losing streak since early November last year.

This time there is no US election 'surprise' to rescue them!

Given the massive ECB buying program throughout Europe, it is the stock market that is leading the HY bond market lower (after the latter saw spreads crash to a record low 179bps at the start of November)...

This is the biggest absolute widening in HY spreads since Jan 2016 (global growth scare)... (and biggest relative widening since Aug 2014)

FDA Approves New Digital Sensor To Ensure "Patients With Mental Health Issues" Take Their Meds

Authored by Mac Slavo via SHTFplan.com,

The Food and Drug Administration has just approved a new pill with a digital sensor in it.

It will "ensure" that patients who suffer from mental health issues take their medicine when they are told. But privacy concerns have not gone unnoticed.

Regulators in the United States have approved the first pill that can be digitally tracked as it makes its way through the human body. The Abilify MyCite aripiprazole tablets used for treating schizophrenia and manic episodes have an ingestible sensor embedded inside them that records that the medication has been taken. A patch worn by the patient transmits this information to their smartphone.

But many are raising the red flag that this could simply be another form of medical "big brother." You may no longer have the right to refuse medications in the very near future.

The Abilify MyCite features a sensor the size of a grain of sand made of silicon, copper, and magnesium. An electrical signal is activated when the sensor comes int ...

The Bright Side of Low Inflation

Low inflation might be a worrying puzzle for the Federal Reserve, but it is also putting more spring in consumer spending. That will make it easier for the central bank to raise rates again when it meets next month.

Tencent's Videogame Business Hits Another High Score

The world's biggest videogame company saw sales and profit handily beating analyst estimates, with games accounting for half of the company's revenue. In particular, revenue from mobile games nearly doubled from a year ago.

What's Behind the Market Wobble?

Some assets certainly feel chillier in November than in October. Answers are elusive, but markets may have set themselves up for a fall.

September 2017 Headline Business Sales Declined

Written by Steven Hansen

Econintersect's analysis of final business sales data (retail plus wholesale plus manufacturing) shows unadjusted sales contracted relative to last month whilst inventories also grew. This is the opposite of the headline view.

Outside the Box: Why lawmakers keep trying to whack retirees

Retirement's three-legged stool is getting wobbly

This expert has a dire warning about not getting enough sleep

Sleep expert Matthew Walker isn't a fan of the expression "You can sleep when you're dead." In fact, he calls it "mortally unwise advice."

Why half of single parents with student loans default on their debts

The trend has implications for intergenerational poverty

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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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