TUESDAY 9/16/14; PPI; FOMC Two-Day Meeting Begins; China Stimulus; Copper Explodes Higher; Fed Dovishness Confirmed; INDU Prints New All-Time Intraday Record High; ADBE

Asia indexes trade lower across the board except for the KOSPI up +0.4%. Hyundai Heavy Industries is the big winner gaining +4%. Dollar/yen 107.10. Eastern Japan and Tokyo are hit with a 5.6 magnitude earthquake. The NIKK drops -0.2% after returning from the Monday holiday. Softbank gains +3.5% since it is a major shareholder of Alibaba like YHOO and will be richly rewarded when BABA begins trading on Friday. The RBA releases Minutes from the last meeting whe




[Text is Redacted: Purchase September 2014-09 to Read the Complete Chronology]




minate the US reliance on Russia to send American astronauts to and from the space station. Elon Musk’s SpaceX is also partnering in the project. BA trades only slightly higher on the news.

ENDP jumps +1.2% after announcing plans to buy Auxilium Pharma which is halted news pending. AUXL begins trading and catapults +41% higher. The commercial glass maker APOG pops +6% on an earnings beat. RAX collapses -16% AH’s after no longer deciding to explore strategic options (the company is no longer up for sale). FedEx plans to raise rates shipping +5% next year. FDX bounces +0.6% and UPS gains +0.2% riding the FedEx coattails.

The population of billionaires around the world is at an all-time high rising from 2170 to 2325 over the last year an increase of +7%. The Fed and other central banker money printing is making the wealthy wealthier at the expense of the middle class and poor.