S&P 500

The biggest catalyst for overnight markets, first reported on this site, was the announcement by Kuwait that its oil workers had ended their strike which disrupted oil production in the 4th largest OPEC producer for 3 days cutting it by as much as 1.7 mmb/d, and had served to offset the negative news from the Doha debacle. Kuwait Petroleum also added that it would boost output to 3m b/d within 3 days, which in turn has pressured the price of oil overnight, and the May WTI contract was back to just over $40 at last check, sliding 2%.

Submitted by Jeffrey Snider via Alhambra Investment Partners,

One week ago we were shocked to learn that no matter what the market was doing, whether it was going, down or sideways, Bank of America's "smart money" (institutional, private and hedge funds) client, simply refused to buy anything, and in fact had continued to sell stocks for a near-record 11 consecutive weeks.

Submitted by Michael Snyder via The Economic Collapse blog,

In late January, when George Soros was interviewed in Davos, he revealed what may have been his most bearish outlook yet, revealing that he is not only short the S&P 500, saying the Fed rate hike was a "mistake" (something the Fed's subsequent relent and global easing U-turn have confirmed), and that China will have a hard landing.