All U.S. stock indexes were down big once again across the board. All major industries are in negative territory, and key support levels have been breached. Oil, China, and increasing interest rates have all been discussed as reasons, but given that overseas markets were not unusually down prior to the latest downdraft, the U.S. markets were surprisingly weak, and finished poorly into the close on high volume. Do you know how to win in this type of market? To learn more go here: http://www.optionsuniversity.com/curriculum/2016/
Just when it looked as though the CBOE volatility index (VIX) was about to roll over and decline below the 20 level, a new round of fear pushed the VIX back above 25. Overall market sentiment has drifted lower from moderately fearful to extremely fearful. The latest earnings season is just now getting under way, and earnings will be key. Did you know that you can actually trade options on volatility? To learn more, click here: http://www.optionsuniversity.com/options-academy-online/
OVERSEAS: Asian markets look like an inverse of the markets from the day before, with Shenzhen and Shanghai recovering their losses from yesterday, and the Nikkei giving back its gains. Japanese machinery orders fell 14.4% as a direct result of a slowing Chinese economy. European markets are broadly down on average about 2% across the board. GE plans to cut 6500 jobs in Europe.
OIL: Inventory data this week indicated that there is a glut of distillate product due to weak demand. Crude inventories remain at extremely high levels and increased just slightly. The price of oil has settled just above $30 per barrel for now. Warren Buffett has been buying shares of Phillips 66, a possible indication that a bottom may be near. Courtney Smith is an expert in oil and other global markets. To hear what he has to say, click here: http://www.optionsuniversity.com/tradesmith-video-newsletter/
JOBS: Jobless claims came in higher than expected at 284K versus a projected 275K. This also represents an increase of 7K over the previous week. U.S. Market futures are up following the news.
BIOTECH INSIDER: As we’ve long discussed, immune oncology is just now being viewed as an essential, long overdue weapon in the fight against cancer cells that could generate as much as $35 billion in sales and help treat up to 60% of all cancers. It’s just part of the reason why Merck just bought IOmet for undisclosed sum, adding a pipeline of therapies that target the IDO/TDO pathways that can help lead an immune system attack on cancer. Even Novartis just struck a $170 million deal with Surface Oncology as it boosts its portfolio with medicines that use the body’s immune system to fight cancer. We strongly believe the M&A push into immuno oncology has only just begun. In fact, our resident biotech expert has his eye on several that could be bought out over the New Year… To find out how to profit from the continued growth, click here now: http://optionswealthinsiders.com/biotechv2/
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