WEDNESDAY 1/14/15; World Bank Lowers Global Growth Forecast; Copper Crashes; ECB Court Decision; Global Bond Yields Trend Lower; JPM and WFC Kickoff Q4 Bank Earnings; Retail Sales; US Stocks Selloff; Business Inventories; 30-Year Bond Auction; Beige Book

The World Bank is concerned over the weak European and emerging markets and lowers the global growth forecast to +3.0% from the prior +3.4% estimate. 2014 global growth is +2.6%. Asian stocks are mixed above and below the flat line to begin the day except for the NIKK that drops like a stone down -0.8% with the dollar/yen dropping to 117.57. Aussie dollar 0.8172. Copper sells off after the disappointing World Bank news.

In Hong Kong, city leader Cy Leung, who followed the mainland China directives to crush the Occupy Central (Umbrella Revolution) movement, speaks for the first time since the demonstrations ended. The Beijing communist leaders will not permit open elections in 2017 in Hong Kong and instead plan on providing the approved candidates for voting. The Hong Kong people would not fully support the student demonstrations so hopes for a free democratic election are over. China will never permit free elections in Hong Kong since that goes directly against the very foundation of communist rule.

Xiaomi plans to release a new Mi5 smartphone 












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 The Dow was down 349 points at the lows and from the intraday high yesterday to the low today is a huge 631 point downside move; price moving a distance of 4% of its entire price range in less than two days. The Dow 20-week MA is 17380 and the LOD today is 17265.

The Nasdaq is down 22 points, -0.5%, to 4639. The 20-week MA is 4613 and the LOD is 4595.98. The RUT drops 4 points, -0.3%, to 1177 under the 50-day MA at 1179. TRAN drops -0.9%. Energy recovers late day but banks remain weak. The healthcare sector remains strong. XLV finishes the session down a smidge. Utilities are a winner. XLU +0.8%.

After the bell, ADBE announces a buyback and the stock jumps higher.