Big Blue Batters Dow To 2-Month Lows As Crude Crashes

Tyler Durden's picture

No macro today but excuses galore for Goldman's weak quarter and why we should just ignore IBM... Fed's Rosnegren talked up the reduction of the balance sheet and that didn't help...

 

Optimism overnight quickly faded in US equities (even as the dollar kept rising)...S&P and Dow closed red

 

Led by crude...

 

And The Dow is red on the week...

 

Financials continue to lag YTD, gold leads and bonds are beat stocks...

 

VIX surged back above 15 in the late day as stocks accelerated lower...

 

The Dow was weighed down by IBM and Goldman Sachs... (over half Dow losses) - WTF Watson?!

 

The big banks bounced a little but faded into the close (Goldman did not bounce)...

 

Stocks and bonds converged after decoupling overnight...

 

Treasury yields rebounded in a deja-vu-y way compared to last week...

 

But yields remain lower on the week...

 

A big dollar rebound today sparked weakness in commodity-land...

 

Cable sold off modestly today and weakness in AUD and CAD (oil plunge) helped raise the dollar (but remains lower on the week)

 

Silver dropped below its 200DMA...

 

Gold stalled...

With another pre-London Fix puke...

 

But Crude (and RBOB) were crushed...as gasoline inventories jumped unexpectedly

 

Slowly but surely stocks are waking up to reality..

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Clock Crasher's picture

It's just won't end

FrozenGoodz's picture

I must admit my sins ... bought UVXY at open

Clock Crasher's picture

If it returns 0.001% I'd take it and run

"you run you're as off"

Cypher - Matrix

Dead Canary's picture

It's like a zombe movie. No matter how many times you hit it with a shovel:

IT JUST WON'T DIE !

 

MisterMousePotato's picture

I miss the guy with the lingerie babes at the end of the chart articles.

jamesmmu's picture
The Story Of A Doomed Business Model That Currently Is In The Money

http://investmentwatchblog.com/the-story-of-a-doomed-business-model-that...

LittleMaestro's picture

TSLA, you magical beast??? Any company that shreds through $1.5 billion per year in cash does not deserve a $50 billion market cap. 

Fundies's picture

So this is the end. ...finally. 

 

Rainman's picture

bwahahaha ... looks like a Kim Jung missle launch !

A. Boaty's picture

This makes me miss puking clown.

Francis Marx's picture

They just ramped gas 18 cents here in the last couple of hours. I noticed they do that when there is a big sell-off in the markets ensueing. This is a little early though. someone knows something.

Colonel Klink's picture

Fuck that piece of shit H1-B using, job exporting shitbag of a corporation.  Hope they go completely under.  Sounds like they need another good war so they can tabulate all the (((losses))).

LittleMaestro's picture

Dow keeps dropping but Nasdaq seems to cling to gains every day. What gives?

I guess the ETF machine keeps the money coming. At some point AMZN, AAPL, MSFT become so dis-proportionately weighted in the indexes that any slip by one of these major members could cause a hell of a sell-off. If AAPL disappoints some day, there will be blood in the streets. A $734 billion market cap for AAPL...

But who am I kidding? I've been saying that we're due for a correction for months.

aloha_snakbar's picture

Oil is down $1.83, or about 3.5%... that is a crash?

Blankfuck's picture

OMG please! This Fed Reserve Fucker Created rally will last forever. Its created by them, for them,  and now computer controlled by them. Goldman was part of this -in on it , im sure

Houses Depreciate's picture

EXCELLENT NEWS!

 

Remember my friends.....

 

Nothing accelerates the economy and creates jobs like falling prices to dramatically lower and more affordable levels. Nothing.

 

Let the prices fall fall fall....

Blankfuck's picture

The Fed fuckers will Collude with the banksters with insider information soon, no worry stockholders of Goldman or any other bank. No rate hike most likely with the same excuse economy bad

Uranium Mountain's picture

This fraudulent market needs to keep moving up until I sell my house!