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07Dec2017 Market Close: Wall Street Closes Higher On Big Tech Boost And Industrials Rally, WTI Crude Settles In The Mid 56 Handle, Gold Index Steadies Lower

Written by Gary

US equities markets rose today (SPY +0.3%), buoyed by technology companies including Facebook and Alphabet, while shares of yoga pants seller Lululemon Athletica jumped after earnings.

Todays S&P 500 Chart

The Market in Perspective

Bitcoin soared to over $19,000 on Coinbase — but other exchanges have totally different prices

Analysts expect these large-cap U.S. stocks to rise at least 25% in 2018

. . . and from CNBC

Here are the headlines moving the markets.

General Electric to cut 12,000 jobs in power business revamp

ZURICH/LAS VEGAS (Reuters) - General Electric Co said Thursday it is axing 12,000 jobs at its global power business, the struggling industrial conglomerate's latest effort to shrink itself into a more focused company.

Wall Street closes higher on big tech boost

NEW YORK (Reuters) - Wall Street rose on Thursday, buoyed by popular technology companies including Facebook and Alphabet, while shares of yoga pants seller Lululemon Athletica jumped after earnings.

Bitcoin flirts with $16,000, alarm bells ring louder

LONDON/NEW YORK (Reuters) - Bitcoin rocketed to a lifetime high just shy of $16,000 on Thursday after climbing some 60 percent in just over a week, intensifying the debate about whether the cryptocurrency is in a bubble about to burst.

AT&T/Time Warner antitrust trial set for March

WASHINGTON (Reuters) - The trial to determine if the U.S. Department of Justice can stop AT&T Inc's $85 billion purchase of media company Time Warner Inc will begin on March 19, a federal judge in Washington said during a hearing on Thursday.

Exclusive: Wells Fargo sanctions are on ice under Trump official - sources

WASHINGTON (Reuters) - The new acting head of the U.S. consumer finance watchdog is reviewing whether Wells Fargo & Co should pay tens of millions of dollars over alleged mortgage lending abuse, according to three sources familiar with the dispute.

Exclusive: Uber's Chinese rival Didi Chuxing to enter Mexico next year - sources

MEXICO CITY/SAN FRANCISCO (Reuters) - Didi Chuxing, China's ride-hailing behemoth, plans to expand into Mexico next year, intensifying its global rivalry with Uber, according to two sources familiar with the plans.

Morgan Stanley fires former lawmaker for misconduct

NEW YORK (Reuters) - Morgan Stanley has fired former U.S. Democratic lawmaker Harold Ford, Jr., a managing director at the Wall Street bank, for inappropriate conduct, a spokeswoman said on Thursday.

Budweiser maker Anheuser-Busch reserves 40 Tesla electric trucks

(Reuters) - Budweiser beer maker Anheuser-Busch has reserved 40 Tesla Inc all-electric Semi trucks as it seeks to reduce fuel costs and vehicle emissions, the brewer said on Thursday.

Steinhoff scandal knocks $12 billion off value in blow to tycoon Wiese

JOHANNESBURG/BERLIN (Reuters) - Shocked Steinhoff shareholders have wiped more than $12 billion off its value since it revealed "accounting irregularities" and parted ways with its chief executive, in a dramatic fall from grace for the South African retailer.

Actually, Here's Why Stocks Can Keep Going Up

The environment still looks more friendly for stocks than bonds. Global growth is broad and momentum appears good. Earnings have recovered and are forecast to rise further around the world in 2018.

Samsung's Rally Can't Keep Living on Memories

The Korean tech giant's stock price and profits have doubled in the past two years. Industry fundamentals suggest it will struggle to maintain that pace.

Pharma's Helping Hand May Pinch Investors

Scrutiny of patient-assistance charities, a key profit source for the drug industry, is increasing. That means it is getting harder for investors to forecast industry growth.

October 2017 Headline Consumer Credit Growth Rate Grows?

Written by Steven Hansen

The headlines say consumer credit rate of annual growth increased from last month. Our analysis disagrees.

Trump Today: Trump Today: President meets congressional leaders as funding deadline looms

President Donald Trump met with congressional leaders Thursday as government funding was near running out, commemorated the attack on Pearl Harbor, and recommended a book on former President Andrew Jackson.

In One Chart: Is this really 'the scariest chart of all?'

If bulls are falling out of love with this market, you wouldn't know it from the level of investor optimism wafting around lately.

The Ratings Game: Broadcom shares pare gain seen as strong quarter, analyst price hikes soothe Apple concerns

Broadcom Ltd. shares traded between gains and slight losses Thursday, retreating from an initial climb after a majority of analysts hiked price targets on the chipmaker's strong earnings and outlook, softening concerns that iPhone production snags would hamper sales growth of wireless components.

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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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