DOW breaks 15k
Gold , silver, and bonds go higher on safety.
Oil remains higher on lower inventory data.
Markets begin to fear Friday’s employment data.
Financials and technology lead into the red.
Markets accelerating to the downside quick.
[youtube://http://www.youtube.com/watch?v=Jg8hhOmJ3vo 450 300]
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Yields for Italy, Spain, France, and Germany …
Comments »The wretched ISM data has spiked gold, sent treasury yields and stocks lower.
Oil remains a place of strength probably due to a weak dollar.
Markets are acting erratic today spiking up and down within seconds of trade.
Go eat a samich….
[youtube://http://www.youtube.com/watch?v=e-f2y1QC_yg 450 300] Comments »
“Japanese shares fell, with the Topix index (TPX) deepening its correction, as Nomura Holdings Inc. paced declines among brokerages and a stronger yen weighed on exporters’ earnings outlook.
The Topix lost 3.4 percent to 1,096.95 at the close of trading in Tokyo, with all of its 33 industry groups falling. The gauge is down 14 percent from its recent high on May 22. The index sank 2.5 percent in May, its first monthly drop since August. Measures of real estate companies and brokerages, the two Topix industry groups that led the rally from November, have fallen more than 25 percent from recent highs.
“Japan is somewhat of an overcrowded trade since a lot of investors have been buying in,” said Khiem Do, Hong Kong-based head of Asian multi-asset strategy at Baring Asset Management Ltd., which manages about $51 billion. “Hedge funds probably needed to lock in profits. We’re still overweight on Japanese equities.”
Nomura tumbled 8.4 percent as brokerages dropped the most on the Topix. SoftBank Corp. slid 4.8 percent after a shareholder advisory firm opposed the carrier’s takeover of Sprint Nextel Corp. Toyota Motor Corp., the world’s largest carmaker, lost 3.3 percent as the yen traded near its highest level since May 9. Mitsubishi Estate Co., the country’s biggest developer, slid 7.5 percent to pace a decline among property stocks….”
Comments »Yields for Italy, Spain, France, and Germany …
Comments »U.S. equities managed not to have follow through after a down Wednesday. Circle jerk action in true fashion.
Currently the DOW is up 85 with WTI up a bit and Brent remaining negative. Gold is up nicely today, and the 10 year treasury is currently hugging the flat line after being in negative territory.
The dollar failed to have upside follow through and is currently down .73%
[youtube://http://www.youtube.com/watch?v=eSte_c82p6U 450 300] Comments »“European stocks fell, after the Stoxx Europe 600 Index rallied the most in a month, on concern that the Federal Reserve will reduce debt purchases as the economy strengthens. U.S. stock-index futures dropped, while Asian shares advanced.
PSA Peugeot Citroen declined 2.3 percent following a French newspaper report that Europe’s second-biggest automaker may sell new shares to raise cash. Evraz Plc fell to a record low after Stoxx Ltd. said it will delete the commodity producer from its benchmark Stoxx 600 next month. Hennes & Mauritz AB dropped 2.2 percent as Goldman Sachs Group Inc. recommended investors sell the shares.
The Stoxx 600 retreated 1.4 percent to 304.08 at 12:41 p.m. in London. The equity benchmark is still heading for a 2.5 percent advance in May, its 12th monthly gain and longest streak since 1997. It has rallied 8.7 percent so far this year, bolstered by central-bank monetary stimulus. Futures on the Standard & Poor’s 500 Index lost 0.6 percent today, while the MSCI Asia Pacific Index added 0.5 percent.
“My biggest worry is that central banks will lose their credibility, and that the Fed in particular, which has embarked on this huge quantitative-easing program, will lose the faith of investors,” Kevin Adams, who helps oversee about 69 billion pounds ($104 billion) at Henderson Global Investors in London, told Mark Barton and Anna Edwards on Bloomberg Television.
Treasuries and bonds around the world fell on concern the Fed will trim its debt purchases. The yield on U.S 10-year bonds increased three basis points to 2.19 percent in London, the highest since April 2012, after earlier reaching 2.23 percent, Bloomberg data show.
Yields for Italy, Spain, France, and Germany …
Comments »Yields for Italy, Spain, France, and Germany …
Comments »“European stocks declined for a second day, after the Stoxx Europe 600 Index yesterday dropped the most in 10 months, as investors awaited data on U.S. durable-goods orders. U.S. index futures and Asian shares also fell.
Raiffeisen Bank International AG (RBI) lost 1.8 percent after its chief executive officer offered to quit. Novo Nordisk A/S climbed after saying its liraglutide treatment helped overweight patients without diabetes to lose weight. Elan Corp. extended its longest rally since July 2011 after the Irish drugmaker’s board of directors unanimously rejected a higher takeover offer from Royalty Pharma.
The Stoxx 600 slid 0.3 percent to 303 at 10:40 a.m. in London. The gauge is heading for its first weekly loss in five weeks as the Federal Reserve signaled it will scale back its stimulus if the U.S. economy improves. Futures on the Standard & Poor’s 500 Index slipped 0.3 percent today, as did the MSCI AsiaPacific Index.
“This dip we saw yesterday took a lot of people by surprise, and everyone is now talking about the market coming off,” Manoj Ladwa, head of trading at TJ Markets, told Mark Barton on Bloomberg Television. “I’d be careful about buying stocks at these levels. There is a lot of money being taken off the table.”
In the U.S., orders for durable goods probably climbed 1.5 percent in April after falling by the most in seven months in March, economists estimated before a Commerce Department report at 8:30 a.m. in Washington…..”
Comments »“Japanese stocks swung wildly before closing less than 1 percent higher, the day after the biggest rout since the March 2011 disaster erased $314 billion.
The Topix Index (TPX) added 0.5 percent to close at 1,194.08 in Tokyo. The gauge earlier rose 3.3 percent and then fell by the same amount as the yen strengthened after Bank of JapanGovernor Haruhiko Kuroda said enough stimulus had been announced. The Topix slid 6.9 percent yesterday.
“The market is going up and down like a roller coaster,” said Koji Toda, chief fund manager at Resona Bank Ltd. in Tokyo, which oversees the equivalent of $147 billion. “The fundamentals haven’t changed, but more and more investors are trading on momentum. Things will probably calm down in a week.”
The Nikkei 225 Stock Average pared a decline of as much as 3.5 percent to close 0.9 percent higher at 14,612.45. The Nikkei Volatility Index touched a two-year high, extending yesterday’s 58 percent jump, before retreating….”
Comments »Yields for Italy, Spain, France, and Germany …
Comments »“Global stocks fell, led by the biggest drop in Japanese shares since the aftermath of the Fukushima disaster, while metals sank as Chinese manufacturing unexpectedly contracted and speculation mounted the Federal Reserve will cut bond purchases. The yen and Treasuries rose.
The MSCI All-Country World Index declined 1.2 percent at 7:20 a.m. in New York. Japan’s Topix Index (TPX) slumped 6.9 percent, the most since March 2011. Standard & Poor’s 500 Index futures fell 0.8 percent, paring losses of as much as 1.4 percent. The yen strengthened against its 16 major peers, surging 1.4 percent to 101.79 per dollar. The yield on 10-year Treasuries slid four basis points to 2 percent. Copper retreated 2 percent and oil slipped 0.8 percent.
Factory output in China shrank for the first time in seven months, a report from HSBC Holdings Plc and Markit Economics showed. Fed Chairman Ben S. Bernanke told lawmakers yesterday a premature withdrawal of stimulus could endanger economic recovery as policy makers debated tapering the pace of bond purchases. Japan’s Topix had surged 48 percent this year to yesterday and the S&P 500 rose to a record this week as central banks worldwide pledged stimulus measures to bolster growth.
“We got the perfect storm for risky assets, with negative signals from both monetary policy and macro-fundamentals,” Witold Bahrke, who helps oversee $55 billion as senior strategist at PFA Pension A/S in Copenhagen, wrote in message. “Quantitative-easing fears got boosted yesterday, which can have quite an effect in an extremely central-bank manipulated market.”…”
Comments »Yields for Italy, Spain, France, and Germany …
Comments »“Japanese shares gained for a second day, with the Topix Index (TPX) extending a 4 1/2-year high, as utilities climbed on optimism nuclear power plants may be restarted and Nippon Yusen KK and Osaka Gas (9532) Co. advanced on prospects for U.S. shale gas imports……
The Topix has risen 48 percent this year, outperforming all major equity indexes amid unprecedented easing from the Bank of Japan. The gauge traded at 1.3 times book value, compared with about 2.5 for the Standard & Poor’s 500 Index and 1.7 for the Stoxx Europe 600 Index……”
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Yields for Italy, Spain, France, and Germany …
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