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27Dec2017 Market Update: Wall Street Higher On Low Volume, Gold Rises On Weakening Dollar, Palladium Hits 17-year Peak

Written by Gary

US equities markets have remained fractionally higher on anemic volume (SPY +0.1%). The US dollar slows downward trend as the gold index trends higher, but sideways.


Here is the current market situation from CNN Money

North and South American markets are higher today with shares in Brazil leading the region. The Bovespa is up 0.73% while Mexico's IPC is up 0.64% and U.S.'s S&P 500 is up 0.10%.

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.

No Trump windfall for private prisons yet, but some bet on gains

(Reuters) - Investors who bet on private prison operators as big winners from Donald Trump's tough line on crime and illegal immigration are looking back at a bruising year of high hopes and disappointment. Some, however, say the stocks still offer good value even though an anticipated windfall under the Trump administration so far has failed to materialize.

Pending home sales edge higher in November

WASHINGTON (Reuters) - Contracts to buy previously owned homes edged higher in November, boosted by job growth across a strengthening economy.

Apple faces lawsuits after saying it slows down aging iPhones

SAN FRANCISCO (Reuters) - Apple Inc defrauded iPhone users by slowing devices without warning to compensate for poor battery performance, according to eight lawsuits filed in various federal courts in the week since the company opened up about the year-old software change.

JPMorgan pays $2.8 million fine over improper safeguards for customers

NEW YORK (Reuters) - JPMorgan Chase & Co will pay $2.8 million to settle charges that a broker-dealer unit lacked sufficient controls to safeguard customer securities from several countries over more than eight years, a U.S. regulator said on Wednesday.

Tech, healthcare stocks prop up Wall Street

(Reuters) - U.S. stocks edged higher in late morning trading on Wednesday, helped by gains in technology and healthcare shares.

South Korea prosecutors seek 12 years jail for Samsung heir Lee in corruption case

SEOUL (Reuters) - South Korean prosecutors sought a 12-year jail term on Wednesday for Samsung Electronics Vice Chairman Jay Y. Lee, in a corruption case that led to the ouster of the nation's president earlier this year.

Tesla's Model 3 deliveries point to slower ramp up: KeyBanc

(Reuters) - Tesla Inc is likely to deliver about 5,000 Model 3s in the fourth quarter, KeyBanc Capital Markets analysts said on Wednesday, far below the brokerage's estimate of 15,000.

Airbus ready to phase out A380 if fails to win Emirates deal: sources

PARIS (Reuters) - Airbus is drawing up contingency plans to phase out production of the world's largest jetliner, the A380 superjumbo, if it fails to win a key order from Dubai's Emirates, three people familiar with the matter said.

SpaceX-launched Iridium satellites functioning normally

(Reuters) - Iridium Communications Inc said on Wednesday its 10 satellites, launched last week by tech billionaire Elon Musk's SpaceX, are functioning as expected.

Russia Establishes Two Permanent Bases In Syria To Host Nuclear Warships And Warplanes

Russia's defense ministry has announced it is now in the process of establishing two permanent military bases in war-torn Syria after President Putin authorized prior deals with the Syrian government to move forward. Though Russia maintains merely up to ten military bases on foreign soil, the installations in Tartus and Khmeimim will be the most strategically located, allowing for a growing and permanent Russian presence on the Mediterranean, something which has already raised eyebrows in the West.

Though Putin formally announced the planned withdrawal of Russian forces from active operations in Syria in early December, there were parallel plans going back to at least early summer to maintain a smaller permanent presence based on an agreement with the Damascus government to host Russian forces for at least 49 more years, which includes the option of being prolonged further. Personnel and military hardware will be stationed at permanent Russian bases in Tartus and Khmeimim - both of which are on or near the Mediterranean.

Satellite image of Russia's facility at Tartus Navy docks. Left: (Source: WikiMapia); Right: (Source: GoogleMaps)

According to Russian media reports, Defense Minister Sergey Shoigu

The Ghost Of W.D.Gann: Another Crash Is Coming

Authored by Philip Soos & Lindsay David via RenegadeInc.com,

The original wizard of Wall Street, W.D Gann was a finance trader and wealthy speculator that spent decades investigating cyclical trends in equity market patterns and found that prices could be predicted long in advance. He successfully predicted the crashes in the 1929 and Dot-Com stock market bubbles. And according to his analysis, the US stock market is due for another crash in 2020.

Every movement in the market is the result of a natural law and of a Cause which exists long before the Effect takes place and can be determined years in advance. The future is but a repetition of the past, as the Bible plainly states...

After suffering through the worst economic and financial crisis since the 1930s depression when the real estate and stock markets crashed in 2007, the United States' bubble economy is back into full swing. Residential and commercial real estate prices are growing strongly, along with equities.

The US stock market, as defined by the S&P500 index, has boomed after collapsing to a trough in 2009. The market 'recovered' more quickly than anyone thought it would, and has continued surging from thereon in.

This has led to a lot of commentary and media coverage that the S&P500 is in the thrall of yet another bu ...

THE U.S. SHALE OIL INDUSTRY: Swindling & Stealing Energy To Stay Alive

SRSrocco

By the SRSrocco Report,

While the U.S. Shale Energy Industry continues to borrow money to produce uneconomical oil and gas, there is another important phenomenon that is not understood by the analyst community. The critical factor overlooked by the media is the fact that the U.S. shale industry is swindling and stealing energy from other areas to stay alive. Let me explain.

First, let's take a look at some interesting graphs done by the Bloomberg Gadfly. The first chart below shows how the U.S. shale industry continues to burn through investor cash regardless of $100 or $50 oil prices:

The chart above shows the negative free cash flow for 33 shale-weighted E&P companies. Even at $100 oil prices in 2012 and 2013, these companies spent more money producing shale energy in the top four U.S. shale fields than they made from operations. While costs to produce shale oil and gas came down in 2015 and 2016 (due to lower energy input prices), these companies still spent more money than they made. As we can see, the Permian basin (in black) gets the first place award for losing the most money in the group.

Now, burning through investor money to produce low-quality, subpar oil is only part of the story. The shale energy companies utilized another tactic to bring in additional funds from the POOR SLOBS in the retail investment community... it's called equity issuance. This next chart reveals the annual ...

"This Could Not Have Been Suicide" - Judge Agrees That Argentine Prosecutor Was Murdered

After a team of forensic experts ruled in September that the 2015 shooting death of Argentine prosecutor Alberto Nisman was, indeed, murder - not suicide as the authorities had initially ruled - a federal judge has validated those findings in a lengthy ruling that seems to point the finger at former Argentine President Cristina Fernandez de Kirchner.

The ruling is the latest blow to Fernandez, who won her bid for a senate seat in October. Though Fernandez has publicly said her decision to run is part of a political comeback, others have speculated that she ran for her senate seat to help insulate herself from accusations of money laundering and corruption, as well as her suspected work to cover up Iran's role in financing the 1994 bombing of a Jewish community center in Buenos Aires - a bombing that killed 85 people.

Alberto Nisman

Years later, Nisman was assigned to investigate a possible cover-up of Iranian officials' role in the bombing. But he was found dead of a gunshot wound to the head in January 2015, hours before he was due to testify against former President Fernandez The ruling comes after a prosecutor recommended last year that the case be investigated as a murder.

In another stunning decision, Tuesday's ruling by the Argentine judge also charged that Diego Lagomarsino, a former employee of Nisman's, was an accessory to his murder, after a gun owned by Lagomarsino was found near Nisman's body, as

What Can Dislodge Tencent as King of the Videogames?

Predicting the success of videogames is a bit like predicting how movies will fare—much relies on the fickle winds of public taste. How, then, has China's Tencent—now the world's largest games company—survived and prospered?

Why Volvo Cars' Chinese Owner Is Betting Big on Volvo Trucks

Do cars and trucks belong in the same corporate garage? By bringing the two Volvos closer together again, Chinese car giant Geely is betting they do.

Is This as Good as It Gets for Retailers?

It is almost a Christmas miracle. Retailers have taken a beating in the last year, with falling stocks and gloomy predictions of their impending death. Yet in the weeks leading up to Christmas, retail stocks rallied.

Chrissy Teigen's 'flight to nowhere' is the perfect end to a difficult year for air travelers

A Tokyo-bound flight had to turn around after crew realized a passenger didn't have a ticket.

Will the bull market for stocks finally end in 2018? If so, blame the credit market bubble

The flattening yield curve and a bubbling corporate debt market suggests the clock is ticking for the bull market in stocks.

Here's what all 30 companies that make up the Dow industrials think about the tax cuts

The large multinational companies in the Dow Jones Industrial Average applaud the tax cuts, but only one of the 30 companies has announced any specific actions it would take as a result.

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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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