Global Economic Intersection
Advertisement
  • Home
  • Economics
  • Finance
  • Politics
  • Investments
    • Invest in Amazon $250
  • Cryptocurrency
    • Best Bitcoin Accounts
    • Bitcoin Robot
      • Quantum AI
      • Bitcoin Era
      • Bitcoin Aussie System
      • Bitcoin Profit
      • Bitcoin Code
      • eKrona Cryptocurrency
      • Bitcoin Up
      • Bitcoin Prime
      • Yuan Pay Group
      • Immediate Profit
      • BitQH
      • Bitcoin Loophole
      • Crypto Boom
      • Bitcoin Treasure
      • Bitcoin Lucro
      • Bitcoin System
      • Oil Profit
      • The News Spy
      • Bitcoin Buyer
      • Bitcoin Inform
      • Immediate Edge
      • Bitcoin Evolution
      • Cryptohopper
      • Ethereum Trader
      • BitQL
      • Quantum Code
      • Bitcoin Revolution
      • British Trade Platform
      • British Bitcoin Profit
    • Bitcoin Reddit
    • Celebrities
      • Dr. Chris Brown Bitcoin
      • Teeka Tiwari Bitcoin
      • Russell Brand Bitcoin
      • Holly Willoughby Bitcoin
No Result
View All Result
  • Home
  • Economics
  • Finance
  • Politics
  • Investments
    • Invest in Amazon $250
  • Cryptocurrency
    • Best Bitcoin Accounts
    • Bitcoin Robot
      • Quantum AI
      • Bitcoin Era
      • Bitcoin Aussie System
      • Bitcoin Profit
      • Bitcoin Code
      • eKrona Cryptocurrency
      • Bitcoin Up
      • Bitcoin Prime
      • Yuan Pay Group
      • Immediate Profit
      • BitQH
      • Bitcoin Loophole
      • Crypto Boom
      • Bitcoin Treasure
      • Bitcoin Lucro
      • Bitcoin System
      • Oil Profit
      • The News Spy
      • Bitcoin Buyer
      • Bitcoin Inform
      • Immediate Edge
      • Bitcoin Evolution
      • Cryptohopper
      • Ethereum Trader
      • BitQL
      • Quantum Code
      • Bitcoin Revolution
      • British Trade Platform
      • British Bitcoin Profit
    • Bitcoin Reddit
    • Celebrities
      • Dr. Chris Brown Bitcoin
      • Teeka Tiwari Bitcoin
      • Russell Brand Bitcoin
      • Holly Willoughby Bitcoin
No Result
View All Result
Global Economic Intersection
No Result
View All Result

Live Market Commentary For 05-07-2012

admin by admin
May 7, 2012
in Uncategorized
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

After Market Closing Comments:

Market closed mixed and trading was in a tight range. Volume started out heavy green followed by a tapering of mostly green until the close. Profit takers stepped in and eased the markets highs down a bit.

The DOW closed at 13009 down 29.74 or -0.23%. The 500 closed at 1369 up +0.48 or +0.04%. The Russell 2000 closed at 793 up 1.97 or +0.25%. The DOW is at the 50 day MA at 13010, the 500 is below its 50 day MA at 1377 and the $RUT is below its 100 day MA at 796. SSO is below its 50 day MA as well with SPY and QQQ.

The WTI oil ended up at 98.00, Brent at 113.32 and gold at 1638.42. USD Consumer Credit for March, classified as medium importance came in up $21.355B and $9.800B was expected. The prior report was $9.267B. Dailyfx reports:

 

“Non-revolving credit (auto, student loans) up 11.3% annually.”

“markets fell from that point into the October lows”

@zerohedge:

Consumer Credit Soars As US Government Encourages Student, Car Loan Bubbles

That US consumer credit soared by $21.4 billion in March on expectations of $9.8 billion rise, or the fastest monthly expansion since March 2001 would have been commendable and memorable if one did not dig through the actual components.

Which sadly are atrocious: of the entire surge, a modest $5.1 billion was from real credit, or revolving, credit-card type debt. This brought the total revolving debt to $804 billion or to a level first crossed in January 2005.

The balance, or $16.2 billion, was non-revolving debt, or the type of debt used to fund GM car purchases by subprime borrowers and push the student loan bubble well into its $1+ trillion record territory.

The total non-revolving debt is now $1.739 trillion: an all time record. As for the source of such debt? why the US government of course, in what is the supreme ponzi scheme, whereby the US government allows US consumers to purchase Government Motors products and to keep the Higher Learning status quo in power.

In other words, the US government has become the final enabler of the consumer spending bubble with proceeds used to keep the US auto unions happy (as channel stuffing is already at record high levels), and of course, to fund such ancillary student purchases as iPads. As for whether any of this debt will ever be paid off? Don’t be silly.

The 500 at the close.

The $RUT at the close.

The DOW at the close.

The Indexes at the close.

@foxnews:______

“CIA thwarted an underwear bomb plot on a U.S.-bound jet near the anniversary of bin Laden’s killing, sources tell AP” 4:15 EST

Market Commentary At Noon:

The markets have continued their sideways movement sense the opening in a tight range. Gold fell -0.32% to $1638/ounce while Silver slips 1.43% to $29.47/ounce, WTI oil is at 97.49 and Brent is at 112.53.

The $RUT is at 791.67 down 0.17 or -0.03%, while the 500 is at 1369.06 down -0.09 or _0.01%. The DOW is at 13008.98 down -27.97 or -0.22%.

Greeks Voted Against Austerity, But Will They Get it Anyway?

The people of Greece spoke out: two thirds voted for parties clearly opposing austerity. Nevertheless, Greek election law means that the pro austerity, pro-bailout mainstream parties will likely continue ruling and having the same policy.

@rickspicks:________

“Europe’s doomed experiment with the politics of austerity went down in flames over the weekend as voters across the region veered sharply to the left in savaging incumbents. Elections in six European nations on Sunday promised to end any pretense of fiscal sanity. However, it remains to be seen how quickly and drastically the new leaders will act to further unbalance their nations’ books, ostensibly in the name of economic growth.”

@SA

France and Greece reject austerity. European markets, particularly in Greece, and U.S. stock futures have fallen after French and Greek voters resoundingly rejected austerity. In France, Francois Hollande won the presidency from Nicolas Sarkozy, who became the ninth European leader to be booted out in two years. In Greece, the two pro-bailout parties gained just 32% of the vote, down from nearly 80% in 2009. Opinion: What Hollande’s victory means for the euro.

After Opening Market Commentary:

The DOW has fallen down to 12985 and has recovered a bit to 12999 or off 50.48 -0.40% in the opening seconds. The 500 futures were down as low as 1342 and have risen to the opening of 1368, down 3.56, -0.27%. The $RUT is also down to 789 or off 2.38, -028%.

The first 10 minute volume is very high and green as the ‘dippers’ come out in force however that hasn’t had a direct reflection on the DOW and the SP500 remaining below Friday’s close. The 20 minute volume has turned red and as heavy as the opening 10 minute’s. By 10 am all the action was over with light volume. The $RUT showed a bit of green and the DOW and 500 were still in the red.

@SA

10:00 AM On the hour: Dow -0.29%. 10-yr +0.04%. Euro -0.29% vs. dollar. Crude -1.22% to $97.28. Gold -0.47% to $1637.45.

The trend is down and the bias is neutral.

WTI oil is at 97.37 having starting out at 98.60 then falling to 95.50, Brent is at 112.42 more or less where we left it on Friday. Brent also had a roller coaster ride this morning falling from 113.11 to 110.30. Gold fell from 1642 earlier to 1635 and is currently at 1639. and the USD was at 80.12, fell to 79.69 and is now at 79.74 just about where we left it on Friday.

Premarket Commentary:

The French election are having the most negative effect on the today’s markets. Francois Hollande first socialist president in 17 years has upset the rest of the European nations by promising more government spending and an exorbitant tax on the rich among the many programs to aid the people.

As of 9 am they were down fractionally to flat. It is going to be one of those guessing days as we see who wins the tug-o-war; the bears or the bulls. If the volume is light, the bulls win hands down as we await more news on Greece. The Greek election is another story as we await more news.

To contact me with suggestions or deserved praise:

[email protected]

Written by Gary

Previous Post

Are Junk Bonds Too Popular?

Next Post

Stock Market and Large Corporations Least Trusted Financial Institutions

Related Posts

What Are BRC-30 Tokens?
Econ Intersect News

What Are BRC-30 Tokens?

by John Wanguba
June 2, 2023
XRP Explosive Boom Results In Record-Breaking Address Activity
Economics

XRP’s Explosive Boom Results In Record-Breaking Address Activity

by John Wanguba
June 1, 2023
What To Consider When Evaluating Low-Code And No-Code Platforms
Business

What To Consider When Evaluating Low-Code And No-Code Platforms

by John Wanguba
June 1, 2023
Crypto Bear Phase Gone, ‘Explosive’ Bull Market Imminent – Veteran Investor
Economics

Crypto Bear Phase Gone, ‘Explosive’ Bull Market Imminent – Veteran Investor

by John Wanguba
June 1, 2023
Only 2 Exchanges Registered In Hong Kong As Crypto Ban Is Removed
Economics

Only 2 Exchanges Registered In Hong Kong As Crypto Ban Is Removed

by John Wanguba
May 31, 2023
Next Post

Stock Market and Large Corporations Least Trusted Financial Institutions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Browse by Tags

adoption altcoins bank banking banks Binance Bitcoin Bitcoin adoption Bitcoin market blockchain BTC business China crypto crypto adoption cryptocurrency crypto exchange crypto market crypto regulation decentralized finance DeFi Elon Musk ETH Ethereum Europe Federal Reserve finance FTX inflation investment market analysis Metaverse NFT nonfungible tokens oil market price analysis recession regulation Russia stock market technology Tesla the UK the US Twitter

Archives

  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • August 2010
  • August 2009

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized
Global Economic Intersection

After nearly 11 years of 24/7/365 operation, Global Economic Intersection co-founders Steven Hansen and John Lounsbury are retiring. The new owner, a global media company in London, is in the process of completing the set-up of Global Economic Intersection files in their system and publishing platform. The official website ownership transfer took place on 24 August.

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Recent Posts

  • What Are BRC-30 Tokens?
  • XRP’s Explosive Boom Results In Record-Breaking Address Activity
  • What To Consider When Evaluating Low-Code And No-Code Platforms

© Copyright 2021 EconIntersect - Economic news, analysis and opinion.

No Result
View All Result
  • Home
  • Contact Us
  • Bitcoin Robot
    • Bitcoin Profit
    • Bitcoin Code
    • Quantum AI
    • eKrona Cryptocurrency
    • Bitcoin Up
    • Bitcoin Prime
    • Yuan Pay Group
    • Immediate Profit
    • BitIQ
    • Bitcoin Loophole
    • Crypto Boom
    • Bitcoin Era
    • Bitcoin Treasure
    • Bitcoin Lucro
    • Bitcoin System
    • Oil Profit
    • The News Spy
    • British Bitcoin Profit
    • Bitcoin Trader
  • Bitcoin Reddit

© Copyright 2021 EconIntersect - Economic news, analysis and opinion.

en English
ar Arabicbg Bulgarianda Danishnl Dutchen Englishfi Finnishfr Frenchde Germanel Greekit Italianja Japaneselv Latvianno Norwegianpl Polishpt Portuguesero Romanianes Spanishsv Swedish