World markets rallied on news that the ECB will be less stringent on the repayment rules for countries like Spain and Italy. A head line just surfaced stating that Germany may delay a vote on this new proposal.
The new proposal brings the EU one step closer to not seeing a breakup and thus the markets are very happy.
Comments »The markets remain firmly in negative territory…just off the lows. The NADAQ, Conglomerates, and Financials lead to the downside.
Hopium is fading fast for the EU Financial Summit in Brussels. Rumors earlier in the day helped to pare losses in Europe.
Healthcare is a winning sector as Obamacare passed in the supreme court today.
Oil is back below $80 per barrel while gold is near bear market territory down $25 for the day.
[youtube://http://www.youtube.com/watch?v=UDApZhXTpH8 450 300] Comments »Conflicting comments came out of Europe this morning keeping markets mostly to the downside. A rumor that Merkel will reverse her eurobond decision got the European boards to pare major losses.
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Gapping up
SURG +20.2%, FLOW +14.4%, USU +12.4%, LIVE +9.9%, OREX +2.8%, LNCR +2.7%,
WEN +2.7%, EGAS +1.4%, DRIV +1.9% , RVBD +1.9%, XOMA +4%, XOMA +4%,
WTW +1.4%, ELLI +1.8%, HMPR +18.4%, CLGX +3.4%, GBX +2.7%, PAYX +0.2%,
Gapping down
SNTA -20%, PEIX -11.3%, BCS -10%, DB -4.9%, JPM -4.8%, ETP -4.1%, ING -3.6%,
HTCH -3.5%, ARNA -3.4%, HBC -2.6%, RIO -2.5%, STX -2.2%, MT -2%, CS -1.7%,
STO -1.7%, BAC -1.7%, WDC -1.6%, WFT -1.6%,
Comments »Outflows: $XRT, $SHY, $IGOV, $KIE, $EWA, $OIH
Inflows: $TZA, $FAZ, $TLT, $KOL, $AAXJ, $UVXY, $USMV, $IVE, $IBB, $LQD,
Comments »U.S. equities are holding gains made off good durable goods and housing data earlier in the day. My sense we try for 1340 S&P over the next couple of days given we get no Molotov Cocktails from Europe.
Oil is back above $80 per barrel, gold is up .13% while other metals are down.
The Euro is down a bit while the dollar is stronger.
All in all the bulls are enjoying cautious upside.
[youtube://http://www.youtube.com/watch?v=0UjsXo9l6I8 450 300] Comments »After a quiet period and a $FB debacle we are starting to see some filings and IPOs coming to market.
Comments »The Hang Sen 40 rallied bucking global market downside as trade growth numbers for June came in better than expected. The relief rally was also fueled by speculation the government will create new lending facilities.
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