Market On Track For Worst Opening Day Loss In 84 Years
Submitted by Tyler Durden on 01/04/2016 - 10:59
If the market closes here, that would make it a worse first day of trading than in such "dramatic" years as 2008 and 1933. But wait, there's more, because unless the S&P somehow manages to stage a rebound and closes above the current levels, it would suffer the worst opening day loss in the past century except for the historic -8.1% collapse it suffered on January 4 of 1932.
What Really Happened In 2015, And What Is Coming In 2016...
Submitted by Tyler Durden on 01/04/2016 - 10:36
A lot of people were expecting some really great things to happen in 2015, but most of them did not happen. But what did happen? A global financial crisis began during the second half of 2015 threatens to greatly accelerate as we enter 2016. This is what the early stages of a financial crisis look like, and the worst is yet to come.
Saudi Arabia Bans Flights, Travel To Iran
Submitted by Tyler Durden on 01/04/2016 - 10:18
This morning, the headlines surrounding what's quickly mushroomed into a Mid-East melee are coming fast and furious and in the latest escalation, the Saudi foreign ministry says the kingdom will now cut all commercial ties with Iran.
Industrial Recession Now Inevitable As Manufacturing ISM Worst In Six Years
Submitted by Tyler Durden on 01/04/2016 - 10:11
Following China's disappointing drop in Manufacturing PMI overnight, this morning started off poorly with Canada's PMI crashing to its lowest reading since records began at 47.5. Then US Manufacturing PMI tumbled to 51.2 - its lowest print since October 2012 (with US factory orders collapsing to weakest since 2009). But The ISM Manufacturing crashed to 48.2 (deep in contraction) - the weakest level since June 2009, with employment bumping along at its lowest level since September 2009 and imports (reflecting domestic demand perhaps) crashed to levels only seen twice in 20 years.
As Stocks Plunge, Swedish Central Bank Holds Extraordinary Meeting, Says Will "Instantly Intervene" If Necessary
Submitted by Tyler Durden on 01/04/2016 - 10:02
Markets have started 2016 with a healty dose of turmoil, and so many were wondering how long - and who - would be the first central bank to intervene in either directly or verbally in markets. Moments ago we go the answer when Sweden's Riksbank announced it has held an extraordinary monetary policy meeting in which it took the decision required to be able to "instantly intervene on the foreign exchange market if necessary, as a complementary monetary policy measure, to safeguard the rise in inflation."
China ETFs Extend Asian Carnage - Crash Most Since August To 3-Month Lows
Submitted by Tyler Durden on 01/04/2016 - 09:58
Having been halted down around 7% overnight, China's CSI-300 index is extending its losses in US trading as ASHR (the CSI-300 tracking ETF) is down 9% - its biggest drop since the August collapse. This plunges Chinese stocks to 3-month lows...
As S&P Flirts With 2000, Here Are The S&P Support Levels
Submitted by Tyler Durden on 01/04/2016 - 09:54
The S&P 500 is down over 2% at the cash open - with FANTAsy stocks collapsing 5-8% - flirting with the crucial 2,000 "mission accomplished" level. Here are the short-term support levels..
Greek Central Bank Warns Country "Unlikely To Survive Another Bout Of Instability" As Bank "Jog" Accelerates
Submitted by Tyler Durden on 01/04/2016 - 09:29
Something unexpected happened on the road to the latest Greek "recovery": the local population no longer believes one is coming.
FANTAsy Stocks Are Flailing In Pre-Market
Submitted by Tyler Durden on 01/04/2016 - 09:15
It appears the FANTAsy stocks (Facebook, Amazon, Netflix, Tesla, and Alphabet) are suffering this morning as investors choose not to rush to the safety of triple-digit P/E ratios amid the market's collapse. Tesla is tumbling on burning-car concerns and Netflix is dropping after another downgrade. The rest are all ugly as it seems faith in FANTAsy is failing...
The Best And Worst Performing Assets Of 2015
Submitted by Tyler Durden on 01/04/2016 - 08:46
With markets wrapped up for 2015 now, reviewing the performance of asset classes last year shows that it was one where negative asset class returns were aplenty, while those finishing in positive territory were few and far between. Indeed, of the 42 assets we monitor in Figure 5, just 9 finished with a positive return in Dollar-adjusted terms over the full year. At the other end of the scale there were some notable losers.
Trump Vows To "Quickly Cut The Head Off Isis And Take Their Oil" In First TV Ad
Submitted by Tyler Durden on 01/04/2016 - 08:42
“Play it again. I love the feel of it"...
Mid-East Melee: Sectarian Showdown Looms As Bahrain Cuts Ties With Iran, UAE Recalls Ambassador
Submitted by Tyler Durden on 01/04/2016 - 08:16
What began with the execution of a prominent Shiite cleric in Saudi Arabia has devolved into a full blown sectarian showdown with Bahrain cutting diplomatic ties with Iran, the UAE recalling its ambassador, Sudan expelling the Iranian mission, and Iraqi Shiites attacking Sunni mosques. In short: tinder box meet spark.
JPMorgan Crushes The BTFDers: "Sell Any Rallies"
Submitted by Tyler Durden on 01/04/2016 - 07:56
It didn't take long for the momentum-chasing fundamental strategists to readjust their immediate stock price targets on the heels of the i) failure of the Santa Rally and ii) the worst start to the year in Chinese stock market history. Case in point, moments ago JPM's equity strategy team released its first note for the year in which it says that "we take the view that equities are unlikely to perform well on a 12-24 month horizon" adding that "the regime of buying the dips might be over and selling any rallies might be the new one."
Frontrunning: January 4
Submitted by Tyler Durden on 01/04/2016 - 07:37- China stocks tank, triggers circuit breaker (Reuters)
- Stocks Slump Across Europe and Asia Following Shanghai's 7% Crash (BBG)
- China Halts Stock Trading After 7% Rout Triggers Circuit Breaker (BBG)
- Iran says Riyadh thrives on tension after relations cut (Reuters)
- Saudis and Bahrain Face Off With Iran in Worst Clash Since 1980s (BBG)
- Syrian rebel group backs Saudi move to cut ties with Iran (Reuters)
