TUESDAY 12/30/14; Flight 8501 Crash Site Discovered; Italy Record Low Yield; Consumer Confidence; Record Low Oil Prices

The lower oil prices and angst over the missing Flight 8501 creates a negative mood as trading begins in Asia. The NIKK trails lower -0.4% as it begins the last day of trading for 2014. The dollar/yen pair leaks lower to 120.50 reflecting a stronger yen that creates the downside in the Nikkei. Australia’s SPASX200 is down -0.3% to begin the day. Oil and energy stocks and gold miners are smacked lower.

The AirAsia mystery continues 










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ESS, a REIT catering to apartment rentals, rises +0.6% on news that Americans are renting more. ARIA bounces +1% on news its leukemia drug sales will increase in Europe.

President Obama doubles down on his statement the other day that race relations are better in America under his legacy. What is he smoking? Polls across the board show the ethnic groups of white, black and Hispanic are in universal agreement that race relations are worse under the president’s tenure. In Philadelphia, a deranged man attempts to run over a police officer and is shot and killed. The race tensions and social unrest continues in the major cities.

Pope Francis announces support for countries to address climate change. The Pope will urge Catholics to act to improve the environment. The climate change debate continues. On face value, the proponents for spending billions of dollars of taxpayer money on addressing climate change are basing their entire belief on 200 years of weather data for a planet billions of years old.