Written by Gary
U.S. Markets reversed course to end where they started this morning – or nearly so. Oil dropped like a rock and stabilized at its lows which is a minor support. The averages remain in a downward trend in a sideways channel. The global distractions still worry investors and have created a severe downward pressure on the bulls.
Todays S&P 500 Chart
The Market in Perspective
| Here are the headlines moving the markets. | |
 | August 2015 Construction Spending Growth Is Again Strong.Written by Steven Hansen The headlines say construction spending grew. The backward revisions make this series very wacky – but the backward revisions this month were downward making the data worse than the headline view. In any event, construction spending is growing much faster than the economy in general. |
| S&P 500, Nasdaq end up; eyes on jobs data NEW YORK (Reuters) – The S&P 500 and Nasdaq closed slightly higher on Thursday in a choppy start to the fourth quarter as investors waited for the monthly U.S. jobs report and the start of earnings season. |
| Fed’s Williams repeats call for rate hike ‘sometime’ in 2015 SALT LAKE CITY (Reuters) – San Francisco Federal Reserve Bank President John Williams on Thursday renewed his call for an interest-rate hike “sometime later this year,” citing near-full employment and rapidly rising house prices that may be a sign of excessive economic optimism. |
| Fitbit attracts new attention from short-sellers SAN FRANCISCO (Reuters) – Wearable gadget maker Fitbit Inc attracted far more bets against its recently rising stock in September, underscoring concerns about competition from the likes of Apple Inc . |
| UAW rejects Fiat Chrysler contract; strikes may loom DETROIT (Reuters) – Fiat Chrysler Automobiles NV’s U.S. workers soundly rejected a four-year contract the automaker had agreed with the UAW, the union said on Thursday, setting the stage for at least localized strikes against the automaker. |
| Trading legend Dauphin leaves void at Trafigura LONDON (Reuters) – When Claude Dauphin, the billionaire founder of Trafigura, was diagnosed with cancer two years ago, few doubted he would entirely abandon the fierce work ethic or grueling travel that helped him to build one of the world’s biggest commodity traders. |
| VW says emission scandal investigations to take months BERLIN (Reuters) – Volkswagen said on Thursday it would take longer than expected to investigate its rigging of vehicle emissions tests, raising the prospect of months of uncertainty for customers, shareholders and staff. |
| The Upside Of The VW DebacleAlways the silver lining… refugee housing crisis “solved”
Source: Investors.com |
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