07Dec2015 Market Close: Markets Closed Down, Crude Below $38 Bbl, SP500 Rebounded Off 2070 Pivot Point, Volatility Is Expected

Written by Gary

US markets closed down, but up from morning lows and the 2070 SP500 pivot Point. The DOW is off triple digits, WTI oil rebounded fractionally from its major support, but that was expected, but closing below $38 bbl. The ‘BTFD’ers were very active during the closing minutes, pushing the major averages to their highest point of today’s session after the morning fall.

Todays S&P 500 Chart

23 stocks in the S&P 500 have just hit record highs

Netflix tops the list, but McDonald’s is a surprise as sales rebound, says Phil van Doorn. Full Story

Stocks are poised to extend gains, but the path is unclear

One thing is known: We will see more volatility, says Avi Gilburt. Full Story

In one chart: McDonald’s remarkable rebound

The restaurant chain’s stock has surged 28% this year. Full Story

The Market in Perspective

Here are the headlines moving the markets.
	Wall St. slides as oil prices tumble to near seven-year low (Reuters) – U.S. stocks fell on Monday with energy stocks suffering their worst day since August as oil prices fell to their lowest point in nearly seven years and materials stocks also falling sharply.
	Morgan Stanley names Collins to global healthcare banking co-head role: memo (This December 2 story was corrected to change Morgan Stanley’s North American ranking from No. 2 to No. 3)
	Verizon could consider buying Yahoo’s internet business (Reuters) – Verizon Communications Inc’s finance chief, Fran Shammo, said the No. 1 U.S. wireless carrier could look at buying Yahoo Inc’s core business, which includes Mail, its news and sports sites and advertising technology.
	Viacom CEO Dauman addresses concerns about Redstone (Reuters) – Viacom Inc Chief Executive Philippe Dauman said he speaks with Executive Chairman Sumner Redstone several times a week and that the 92-year-old media mogul is in charge of his own healthcare.
	Cisco chairman promises ‘win-win’ deal with China over network control DUBAI (Reuters) – Cisco’s executive chairman on Monday declined to say whether it would cede to China’s demands to be able to control equipment deployed in the world’s largest internet market, instead pledging to find a œwin-win solution.
	Netflix content head says to double own shows next year (Reuters) – Netflix Inc will focus on developing its own content next year and nearly double the number of original shows to 31 from 16, Chief Content Officer Ted Sarandos said on Monday.
	Airbus eyes 2015 win over Boeing as orders hit 1,000 PARIS (Reuters) – Airbus orders topped 1,000 aircraft between January and November, sending its shares higher as it looked all but certain to win its annual race against U.S. rival Boeing .
	JAB-led investor group to acquire K-cup maker Keurig for $13.9 billion (Reuters) – Germany’s JAB Holding Co is leading a $13.9 billion buyout of Keurig Green Mountain Inc, known for its K-Cup single-serve coffee pods, in a deal that would strengthen its position in North America.
	EU seeks new air traffic agreements in Gulf carrier battle BRUSSELS/BERLIN (Reuters) – The European Commission is seeking a new European-wide air traffic agreement with Gulf states as a way of boosting European airlines against what some of them have termed unfair subsidies enjoyed by Middle East-based rivals.
	Energy-Sector Rout Intensifies An energy-sector rout intensified as mild weather forecasts sent oil and natural-gas prices plunging and prompted widespread selling of energy-company shares.
	U.S. Stocks Fall as Oil Keeps Sliding U.S. stocks fell Monday, led lower by a selloff in energy shares as oil prices plumbed new lows.
	Oil Falls to Near Seven-Year Lows Oil prices plunged to near seven-year lows Monday on expectations that producers around the world will continue pumping crude at near-record levels in an already oversupplied market.
	November 2015 CBO Monthly Budget Review: Receipts Up 3% from the Congressional Budget Office The federal budget deficit was $200 billion for the first two months of fiscal year 2016, CBO estimates. That deficit was $22 billion larger than the one recorded during the same period last year. Revenues and outlays were both higher than last year’s amounts, by 3 percent and 6 percent, respectively.
	Blogger Sentiment More Bullish Entering November 2015 The latest Blogger Sentiment Poll released 07 December 2015 by Ticker Sense is more bearish than last month.
	Currencies: Dollar gains as crude oil’s decline weighs on currencies The dollar rises as the euro unwound more of last week’s gains and falling crude-oil prices dragged commodity-linked currencies lower.