U.S. auto and trucks report at 5 p.m. today
I think its the last sector to still show a gain for the year thus the big boys are beating it down. REGN got downgraded today based on valuation. Why downgrade now instead of at the highs? Manipulative move imo!
Its China baby! In a few weeks China will be off the table then we'll be back to focus on fed move again!
Apple has notified media outlets of an invitation-only event to be held at the Bill Graham Civic Auditorium in San Francisco on Wednesday, Septmeber 9th at 10am PDT.
The invitation melds Siri graphics with the iconic Apple logo and the text “Hey Siri, give us a hint.”
News that Apple’s event would be held at the cavernous Bill Graham Civic Auditorium (max. 7,000 person capacity) instead of the usual, much smaller Yerba Buena Center for the Arts (max. 750 person capacity) in San Francisco had leaked prior to Apple’s invitation mailing.
Watching today's action I'd say more influenced today by oil inventories. Market was gliding along well until they released those numbers then shaaabammm. Oil drops and market dipped alongside. I wish to hell they would refrain from these reports until the market comes back.
Shanghai index only fell 1.7%. Much better than the 7% we've seen.
That's not what Best Buy said!
Fear is definitely here! Buying! lol
Just listened to his video re today's selloff. He says what is worrisome about this spike and then the selloff today is that there are no circuit breakers. He further goes on to say the selloff was not generated by the U.S. or Europe but by emerging markets and the problem now is this will now discourage "buy on the dip" activity. He also thinks rate hike is definitely off table in September. If the feds were to raise it would cause economic instability just when we are trying to recover so this is not big factor now.
I'm thinking take a good hard look at how the Shanghai index reacts. Actually I was surprised to see the strong open in U.S. this morning with China down and then the head fake set in. The SP500 has lost 235 points in 6 days. That's pretty damned wild! Margins calls are still a factor too. Even Goldman couldn't help Apple today. We should be getting some type of relief rally from this even if short term. To not hold any gain today whatsoever in any index is pretty alarming. Tomorrow is a #$%$ shoot again!