Tuesday, December 2, 2014

TUESDAY 12/2/14; China Stimulus Rally; Russia GDP Forecast Drops; Motor Vehicle Sales; Construction Spending; INDU New All-Time Highs

The central bankers are the market. The PBOC may announce additional reserve requirement cuts for the banks due to the weak manufacturing data. Asian stocks catapult higher on the news triggering limit-up circuit breakers. Traders do not care about company fundamentals; all that matters is if the central banks are pumping stocks higher with easy money. The Shanghai Index, SSEC, catapults +3.1% higher on the PBOC juice. The HSI gains +1.2%. Chinese banks explode higher with China Merchants Bank and Minsheng Banking each up over +10%. All Hail the central bankers! The Asian markets turn into a big stimulus party.













[Text is Redacted: Purchase December 2014-12 to Read the Complete Chronology]











T Boone Pickens says oil will return to $100 per barrel within 12 to 18 months. Boone typically leans bullish for the oil sector and his calls over the years are not particularly accurate.

About three-quarters of the homes in Detroit have power restored after today’s major outage. Utility crews continue working through the night. California receives rain to alleviate the multi-month and year drought but the rains are torrential creating flash floods and mud slides.

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