Wednesday, October 1, 2014

THURSDAY 10/2/14; Global Cascading Selloff; WTIC Crude Oil Drops Under 90; Hong Kong Deadline; MKC; STZ; ECB Rate Decision and Press Conference; Factory Orders

The US weakness cascades around the globe to Asia. Japan is a blood bath with the NIKK collapsing -2.6%. The dollar/yen continues lower to 108.87. The Ebola fears send airlines nose diving to the ground (since less air travel is expected) until the outbreak is controlled. All Nippon Airways and Japan Airlines are bludgeoned over -4%. HMC drives off the road into a ditch d



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 unit and also increase the buyback. WAVX leaps +34% on news that a smart-card contract with the US government is approved. AAPL drops -1% on a downgrade by DB.

The Ebola patient in Texas had been in contact with 100 people instead of the originally reported 80. These folks are tracked down and told to stay home for the next three weeks.
An American news cameraman working in Liberia has contracted Ebola and will be sent back to the States for treatment. Americans are concerned over Ebola and the EV-D68 virus. XOM says Ebola is affecting their company negatively due to their involvement in the West African oil fields.

In the evening, Fed’s Bullard, a hawk, speaks about raising interest rates which is not a surprise. Bullard prefers to see the first rate hike occur by the end of Q1 2015 (March). JPM announces that a serious cyber attack that has compromised information on 76 million households and 7 million businesses.

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