On one hand, China’s recently implemented home-buying curbs to cool the runaway property market worked in October, when following a slump in property sales volume new-home prices gained last month in 62 of the 70 cities tracked by the government, declining from the 63 recorded in September, the National Bureau of Statistics said Friday. Prices dropped in seven cities, compared with six a month earlier.
Did OPEC just run out of short-squeeze ammo?
On any normal day the following two headlines from OPEC would have sent oil prices soaring....
But it appears the jawbone ammo has run dry...
Now this is geting funny (for all those not in the stock that is)...
On the back of a stunningly colossal surge in volume, DRYS is halted once again this morning after rally 65% (following yesterday's 85% collapse... whch followed a 1500% rise the previous 5 days)...
+12%, +133%, +14%, +215%, +70%, -85%.. and today +65% (so far)
Amid a bounce back in the FANG stocks, the Nasdaq has recovered from its post-Trump laggardness to surge past previous record highs this morning... proving that 'everything' is awesome.
FANGs remain red post-Trump but are bouncing aggressively this morning...
As volume contnues to dribble lower...
Will it hold?
Notably Nasdaq futures remain below their record high (for now)
While Caterpillar's CEO may have resigned recently, admitting that he misjudged the business strategy, the stock does not appear to be bothered, soaring by 15% since the Trump victory on hopes an infrastructure push would make excavators great again. For now, however, the woes at the heavy industrial manufacturer continue, with yet another month of declining global sales, the company's 47th in a row.