STOCK MARKET WATCH -- Wednesday, 17 December 2014

[Tansy_Gold]

[font size=3]STOCK MARKET WATCH, Wednesday, 17 December 2014[font color=black][/font]

SMW for 16 December 2014

AT THE CLOSING BELL ON 16 December 2014
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Dow Jones 17,068.87 -111.97 (-0.65%)
S&P 500 1,972.74 -16.89 (-0.85%)
Nasdaq 4,547.83 -57.32 (-1.24%)


[font color=black]10 Year 2.05% 0.00 (0.00%)
[font color=green]30 Year 2.69% -0.01 (-0.37%)[font color=black]


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[font size=2]Market Conditions During Trading Hours[/font]
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(click on link for latest updates)
http://tools.investing.com/market_quotes.php?
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[font size=2]Euro, Yen, Loonie, Silver and Gold[center]

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[font color=black][font size=2]Handy Links - Market Data and News:[/font][/font]
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Economic Calendar
Marketwatch Data
Bloomberg Economic News
Yahoo Finance
Google Finance
Bank Tracker
Credit Union Tracker
Daily Job Cuts
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[font color=black][font size=2]Handy Links - Economic Blogs:[/font][/font]
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The Big Picture
Financial Sense
Calculated Risk
Naked Capitalism
Credit Writedowns
Brad DeLong
Bonddad
Atrios
goldmansachs666
The Stand-Up Economist
The Automatic Earth
Wall Street on Parade
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[font color=black][font size=2]Handy Links - Essential Reading:[/font][/font]
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Matt Taibi: Secret and Lies of the Bailout


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[font color=black][font size=2]Handy Links - Government Issues:[/font][/font]
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LegitGov
Open Government
Earmark Database
USA spending.gov
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[font color=black][font size=2]Handy Links - Videos:[/font][/font]
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Charlie Rose talks with Roubini
Charlie Rose talks with Krugman
William Black: This Economic Disaster
Bill Moyers with Kevin Drum and David Corn
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[font color=red]Partial List of Financial Sector Officials Convicted since 1/20/09 [/font][font color=red]
2/2/12 David Higgs and Salmaan Siddiqui, Credit Suisse, plead guilty to conspiracy involving valuation of MBS
3/6/12 Allen Stanford, former Caribbean billionaire and general schmuck, convicted on 13 of 14 counts in $2.2B Ponzi scheme, faces 20+ years in prison
6/4/12 Matthew Kluger, lawyer, sentenced to 12 years in prison, along with co-conspirator stock trader Garrett Bauer (9 years) and co-conspirator Kenneth Robinson (not yet sentenced) for 17 year insider trading scheme.
6/14/12 Allen Stanford sentenced to 110 years without parole.
6/15/12 Rajat Gupta, former Goldman Sachs director, found guilty of insider trading. Could face a decade in prison when sentenced later this year.
6/22/12 Timothy S. Durham, 49, former CEO of Fair Financial Company, convicted of one count conspiracy to commit wire and securities fraud, 10 counts of wire fraud, and one count of securities fraud.
6/22/12 James F. Cochran, 56, former chairman of the board of Fair, convicted of one count of conspiracy to commit wire and securities fraud, one count of securities fraud, and six counts of wire fraud.
6/22/12 Rick D. Snow, 48, former CFO of Fair, convicted of one count of conspiracy to commit wire and securities fraud, one count of securities fraud, and three counts of wire fraud.
7/13/12 Russell Wassendorf Sr., CEO of collapsed brokerage firm Peregrine Financial Group Inc. arrested and charged with lying to regulators after admitting to authorities he embezzled "millions of dollars" and forged bank statements for "nearly twenty years."
8/22/12 Doug Whitman, Whitman Capital LLC hedge fund founder, convicted of insider trading following a trial in which he spent more than two days on the stand telling jurors he was innocent
10/26/12 UPDATE: Former Goldman Sachs director Rajat Gupta sentenced to two years in federal prison. He will, of course, appeal. . .
11/20/12 Hedge fund manager Matthew Martoma charged with insider trading at SAC Capital Advisors, and prosecutors are looking at Martoma's boss, Steven Cohen, for possible involvement.
02/14/13 Gilbert Lopez, former chief accounting officer of Stanford Financial Group, and former controller Mark Kuhrt sentenced to 20 yrs in prison for their roles in Allen Sanford's $7.2 billion Ponzi scheme.
03/29/13 Michael Sternberg, portfolio mgr at SAC Capital, arrested in NYC, charged with conspiracy and securities fraud. Pled not guilty and freed on $3m bail.
04/04/13 Matthew Marshall Taylor,fmr Goldman Sachs trader arrested, charged by CFTC w/defrauding his employer on $8BN futures bet "by intentionally concealing the true huge size, as well as the risk and potential profits or losses associated."
04/04/13 Matthew Taylor admits guilt, makes plea bargain. Sentencing set for 26 June; faces up to 20 years in prison but will likely only see 3-4 years. Says, "I am truly sorry."
04/11/13 Ex-KPMG LLP partner Scott London charged by federal prosecutors w/passing inside tips to a friend in exchange for cash, jewelry, and concert tickets; expected to plead guilty in May.
08/01/13 Fabrice Tourré convicted on six counts of security fraud, including "aiding and abetting" his former employer, Goldman Sachs
08/14/13 Javier Martin-Artajo and Julien Grout charged with wire fraud, falsifying records, and conspiracy in connection with JP Morgan's "London Whale" trade.
08/19/13 Phillip A. Falcone, manager of hedge fund Harbinger Capital Partners, agrees to admit to "wrongdoing" in market manipulation. Will banned from securities industry for 5 years and pay $18MM in disgorgement and fines.
09/16/13 Javier Martin-Artajo and Julien Grout officially indicted on charges associated with "London Whale" trade.
02/06/14 Matthew Martoma convicted of insider trading while at hedge fund SAC (Stephen A. Cohen) Capital Advisors. Expected sentence 7-10 years.
03/24/14 Annette Bongiorno, Bernard Madoff's secretary; Daniel Bonventre, director of operations for investments; JoAnn Crupi, an account manager; and Jerome O'Hara and George Perez, both computer programmers convicted of conspiracy to defraud clients, securities fraud, and falsifying the books and records.
05/19/14 Credit Suisse, which has an investment bank branch in NYC, agrees to plead guilty and pay appx. $2.6 billion penalties for helping wealthy Americans hide wealth and avoid taxes.
09/08/14 Matthew Martoma, convicted SAC trader, sentenced to 9 years in prison plus forfeiture of $9.3 million, including home and bank accounts







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[font size=3][font color=red]This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.[/font][/font][/font color=red][font color=black]

[Crewleader]

1. Today's Cartoon

[Demeter]

2. Excellent cartoons, both of you!

Truly capture the spirit of the season.....

survived the board meeting, barely. Not sure if I'll survive the rest of things happening. Still, it's only the middle of the week, what more could possibly.....

(puts both hands over mouth)

[Demeter]

3. Here's a cartoon for all seasons

[Warpy]

4. Ouch. That is so very true

[xchrom]

5. Brent Crude Oil Is Holding Below $60

http://www.businessinsider.com/oil-still-below-60-2014-12

Brent crude prices are down again Wednesday morning after ticking up on Tuesday afternoon.

At 12 a.m. GMT (7 a.m. ET), Brent is trading at $59.22, down 1.32% from earlier in the day.



West Texas Intermediate Crude is also losing ground, and at 12 a.m. GMT (7 a.m. ET) it was selling at $55.35 a barrel, down 1.61%.

On Tuesday, Crude oil broke below $54 a barrel, a five-year low, before rising slightly back in the later hours of US trading.

WTI crude has lost almost half of its value since peaking in July this year above $107 a barrel.

Here's a long-term chart:



Read more: http://www.businessinsider.com/oil-still-below-60-2014-12#ixzz3M9l91z8C

Read more: http://www.businessinsider.com/oil-still-below-60-2014-12#ixzz3M9kyMMVE

[xchrom]

6. Asian Business Sentiment Has Rebounded In The Fourth Quarter

http://www.businessinsider.com/r-asian-business-sentiment-rebounds-in-fourth-quarter-with-india-most-optimistic-2014-12

NEW DELHI (Reuters) - Business sentiment among Asia's top companies rebounded in the fourth quarter to the second-highest level in almost three years, a Thomson Reuters/INSEAD survey showed, helped by a stronger U.S. economy and a plunge in oil prices.

The Thomson Reuters/INSEAD Asian Business Sentiment Index increased to 72 in the fourth quarter from 66 in the previous three months. The result was only slightly below the 74 reading of the second quarter which was the highest since early 2012. A reading above 50 indicates an overall positive outlook.

Indian businesses provided the biggest boost to the index, with companies reporting a maximum score of 100 for the third consecutive quarter as they look to new Prime Minister Narendra Modi to speed up economic recovery.



Read more: http://www.businessinsider.com/r-asian-business-sentiment-rebounds-in-fourth-quarter-with-india-most-optimistic-2014-12#ixzz3M9ljmCAE

[xchrom]

7. Early Winter Storms Put A Promising Dent In California's Severe Drought

http://www.businessinsider.com/r-early-winter-storms-put-dent-in-california-drought-2014-12

LOS ANGELES (Reuters) - A trifecta of early winter storms that swept California with heavy rain and snow in the past two weeks put a promising dent in a severe drought entering its fourth year, but the water shortage remains far from over, water officials said on Tuesday.

Depleted reservoirs and the Sierra Nevada snowpack, which normally constitutes the state's largest natural store of fresh surface water, received a welcome boost from successive Pacific storms on Dec. 1-2, Dec. 11-12 and again on Monday and Tuesday.

But the reservoirs and the snowpack were still at levels well below average. Wetter-than-normal weather — on a magnitude of 150 percent of average — would have to continue through the winter to provide substantial drought relief, officials for the state Water Resources Department said.



Read more: http://www.businessinsider.com/r-early-winter-storms-put-dent-in-california-drought-2014-12#ixzz3M9m9WCTX

[xchrom]

8. Japan's Recession-Hit Economy Just Delivered Some Ugly Trade Stats

http://www.businessinsider.com/r-japan-export-growth-slows-may-add-to-concerns-over-recession-hit-economy-2014-12

TOKYO (Reuters) - Japan's exports grew for a third straight month in November from a year earlier, but much more slowly than expected and despite a sharp fall in the yen as slowing demand in Asia and Europe dampened trade.

The 4.9 percent rise in exports was much weaker than a 7.0 percent gain seen by economists in a Reuters poll, slowing from a 9.6 percent gain in October, Ministry of Finance data showed.

Weakness in exports could compound April's sales tax rise which pushed the economy into a recessionary second quarter of contraction through September.

"Exports to Asia and Europe were weak. Europe's slump caused by Russia warrants attention, but the slowdown in Asia-bound exports was probably a temporary reaction to October's big jump boosted by one-off factors such as exports of ships to Singapore," said Hiroshi Watanabe, senior economist at SMBC Nikko Securities.



Read more: http://www.businessinsider.com/r-japan-export-growth-slows-may-add-to-concerns-over-recession-hit-economy-2014-12#ixzz3M9mh4e4O

[xchrom]

9. Greece Is On The Brink Of A New Period Of Political Chaos

http://www.businessinsider.com/r-greek-government-faces-first-test-in-crucial-presidential-vote-2014-12

ATHENS (Reuters) - Greek Prime Minister Antonis Samaras on Wednesday faces the first of three rounds of a presidential vote that will determine whether the country is forced into snap national elections and a new period of political chaos.

Samaras's conservative-leftist coalition is almost certain to fail in the first round, when it needs the support of 200 lawmakers in the 300-seat chamber to elect its nominee, Stavros Dimas. But the backing his coalition, which controls 155 deputies, garners will be closely watched as a sign of momentum for or against it ahead of a final, decisive vote on Dec. 29 when the super majority required for victory falls to 180.

Support of below 160 votes would be considered a blow for the government, while 170 or above would be considered a strong show that suggests Samaras can scrape together the votes needed in the final round, coalition officials have said.



Read more: http://www.businessinsider.com/r-greek-government-faces-first-test-in-crucial-presidential-vote-2014-12#ixzz3M9n5XQCC