Thanks to Goldman, Disney, and3M, The Dow has surged this morning, topping 22,500 for the first time as Nasdaq has suffered since Europe closed...
Nasdaq dipped red briefly..
It seems European markets closing prompted selling in Tech stocks...
It appears Europe's close also sparked a buying panic for value stocks...
And here's why...
A broken market fixes all ills.
While JPMorgan CEO Jamie Dimon said he "would fire" any employee found trading Bitcoin, Goldman Sachs' leadership is embracing reality as WSJ reports the bank is weighing a new trading operation dedicated to bitcoin and other digital currencies.
On the heels of IMF Chief Christine Lagarde's comments that:
Authored by Lance Roberts via RealInvestmentAdvice.com,
As the stock market hits all-time highs in its 2nd longest bull market run in history, the lift of asset prices has surely lifted the economic prosperity of all. Right?
Not really.
New reports from the Hamilton Project and The Federal Reserve show the real problems facing Americans today.
Following modest drops in UK and EU PMIs (and a mixed picture in China), Markit's US Manufacturing PMI inched higher in September amid schizophrenic collapse in output growth (14mo lows) and surge in employment (9mo highs). ISM, on the other hand, reported that US Manufacturing has not been this awesome since June 2004.
Prices Paid are soaring helping Make Manufacturing in America Great Again
As New Orders jump (but remain well below early 2017 highs...
The surge in prices paid and deliveries stand out...
It appears the crucial link between HFT algos and the options market just broke as BATS options exchanges have declared self-help again NASDAQ ISE. VIX is spiking as stocks open, but stocks limping very modestly lower.
Certainly some odd behavior around the open.