STOCK MARKET WATCH -- Friday, 26 February 2016

[Tansy_Gold]

[font size=3]STOCK MARKET WATCH, Friday, 26 February 2016[font color=black][/font]

SMW for 25 February 2016

AT THE CLOSING BELL ON 25 February 2016
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Dow Jones 16,697.29 +212.30 (1.29%)
S&P 500 1,951.70 +21.90 (1.13%)
Nasdaq 4,582.21 +39.60 (0.87%)


[font color=green]10 Year 1.72% -0.02 (-1.15%)
30 Year 2.59% -0.02 (-0.77%) [font color=black]


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[font size=2]Market Conditions During Trading Hours[/font]
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(click on link for latest updates)
Market Updates
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[font size=2]Euro, Yen, Loonie, Silver and Gold[center]

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[font color=black][font size=2]Handy Links - Market Data and News:[/font][/font]
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Economic Calendar
Marketwatch Data
Bloomberg Economic News
Yahoo Finance
Google Finance
Bank Tracker
Credit Union Tracker
Daily Job Cuts
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[font color=black][font size=2]Handy Links - Economic Blogs:[/font][/font]
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The Big Picture
Financial Sense
Calculated Risk
Naked Capitalism
Credit Writedowns
Brad DeLong
Bonddad
Atrios
goldmansachs666
The Stand-Up Economist
The Automatic Earth
Wall Street on Parade
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[font color=black][font size=2]Handy Links - Essential Reading:[/font][/font]
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Matt Taibi: Secret and Lies of the Bailout


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[font color=black][font size=2]Handy Links - Government Issues:[/font][/font]
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LegitGov
Open Government
Earmark Database
USA spending.gov
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[font color=black][font size=2]Handy Links - Videos:[/font][/font]
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Charlie Rose talks with Roubini
Charlie Rose talks with Krugman
William Black: This Economic Disaster
Bill Moyers with Kevin Drum and David Corn
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[font color=red]Partial List of Financial Sector Officials Convicted since 1/20/09 [/font][font color=red]
2/2/12 David Higgs and Salmaan Siddiqui, Credit Suisse, plead guilty to conspiracy involving valuation of MBS
3/6/12 Allen Stanford, former Caribbean billionaire and general schmuck, convicted on 13 of 14 counts in $2.2B Ponzi scheme, faces 20+ years in prison
6/4/12 Matthew Kluger, lawyer, sentenced to 12 years in prison, along with co-conspirator stock trader Garrett Bauer (9 years) and co-conspirator Kenneth Robinson (not yet sentenced) for 17 year insider trading scheme.
6/14/12 Allen Stanford sentenced to 110 years without parole.
6/15/12 Rajat Gupta, former Goldman Sachs director, found guilty of insider trading. Could face a decade in prison when sentenced later this year.
6/22/12 Timothy S. Durham, 49, former CEO of Fair Financial Company, convicted of one count conspiracy to commit wire and securities fraud, 10 counts of wire fraud, and one count of securities fraud.
6/22/12 James F. Cochran, 56, former chairman of the board of Fair, convicted of one count of conspiracy to commit wire and securities fraud, one count of securities fraud, and six counts of wire fraud.
6/22/12 Rick D. Snow, 48, former CFO of Fair, convicted of one count of conspiracy to commit wire and securities fraud, one count of securities fraud, and three counts of wire fraud.
7/13/12 Russell Wassendorf Sr., CEO of collapsed brokerage firm Peregrine Financial Group Inc. arrested and charged with lying to regulators after admitting to authorities he embezzled "millions of dollars" and forged bank statements for "nearly twenty years."
8/22/12 Doug Whitman, Whitman Capital LLC hedge fund founder, convicted of insider trading following a trial in which he spent more than two days on the stand telling jurors he was innocent
10/26/12 UPDATE: Former Goldman Sachs director Rajat Gupta sentenced to two years in federal prison. He will, of course, appeal. . .
11/20/12 Hedge fund manager Matthew Martoma charged with insider trading at SAC Capital Advisors, and prosecutors are looking at Martoma's boss, Steven Cohen, for possible involvement.
02/14/13 Gilbert Lopez, former chief accounting officer of Stanford Financial Group, and former controller Mark Kuhrt sentenced to 20 yrs in prison for their roles in Allen Sanford's $7.2 billion Ponzi scheme.
03/29/13 Michael Sternberg, portfolio mgr at SAC Capital, arrested in NYC, charged with conspiracy and securities fraud. Pled not guilty and freed on $3m bail.
04/04/13 Matthew Marshall Taylor,fmr Goldman Sachs trader arrested, charged by CFTC w/defrauding his employer on $8BN futures bet "by intentionally concealing the true huge size, as well as the risk and potential profits or losses associated."
04/04/13 Matthew Taylor admits guilt, makes plea bargain. Sentencing set for 26 June; faces up to 20 years in prison but will likely only see 3-4 years. Says, "I am truly sorry."
04/11/13 Ex-KPMG LLP partner Scott London charged by federal prosecutors w/passing inside tips to a friend in exchange for cash, jewelry, and concert tickets; expected to plead guilty in May.
08/01/13 Fabrice Tourré convicted on six counts of security fraud, including "aiding and abetting" his former employer, Goldman Sachs
08/14/13 Javier Martin-Artajo and Julien Grout charged with wire fraud, falsifying records, and conspiracy in connection with JP Morgan's "London Whale" trade.
08/19/13 Phillip A. Falcone, manager of hedge fund Harbinger Capital Partners, agrees to admit to "wrongdoing" in market manipulation. Will banned from securities industry for 5 years and pay $18MM in disgorgement and fines.
09/16/13 Javier Martin-Artajo and Julien Grout officially indicted on charges associated with "London Whale" trade.
02/06/14 Matthew Martoma convicted of insider trading while at hedge fund SAC (Stephen A. Cohen) Capital Advisors. Expected sentence 7-10 years.
03/24/14 Annette Bongiorno, Bernard Madoff's secretary; Daniel Bonventre, director of operations for investments; JoAnn Crupi, an account manager; and Jerome O'Hara and George Perez, both computer programmers convicted of conspiracy to defraud clients, securities fraud, and falsifying the books and records.
05/19/14 Credit Suisse, which has an investment bank branch in NYC, agrees to plead guilty and pay appx. $2.6 billion penalties for helping wealthy Americans hide wealth and avoid taxes.
09/08/14 Matthew Martoma, convicted SAC trader, sentenced to 9 years in prison plus forfeiture of $9.3 million, including home and bank accounts
08/03/15 Former City (London) trader Tom Hayes found guilty of rigging global Libor interest rates. Each fo eight counts carries up to 10 yr. sentence.
08/21/15 Charles Antonucci Sr, former pres. Park Ave. Bank sentenced to 2.5 years in prison for bribery, fraud, embezzlement, and attempt to steal $11MM in TARP bailout funds, as well as $37.5MM fraud on OK insurance company. To pay $54MM in restitution and give up additional $11MM.
09/21/15 Volkswagen CEO Martin Winterkorn apologizes for VW cheating on air quality standards with emission testing avoidance device. Stock drops 20%, fines may total $18B.
09/22/15 Stewart Parnell, CEO Peanut Corp. of America, sentenced to 28 years in prison for selling salmonella-tainted peanut butter that killed nine.
12/17/15 Martin Shkreli, former CEO Turing Pharmaceuticals and notorious price gouger, arrested on securities fraud charges. Posted $5M bail, resigned as CEO.




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[font size=3][font color=red]This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.[/font][/font][/font color=red][font color=black]

[corkhead]

1. my response to the toon:

[Hotler]

2. Let me add this. I always like that picture.

Jump you fuckers By Gene Burnett.

[Fuddnik]

6. Love that song.

It's almost like most of America has collective amnesia over the last 15 years or so. Half of them want one of the prime causes of the disaster to be President.

[bread_and_roses]

5. Love that photo

Elsewhere on site there are those claiming that all is good 'cause the stock market has hit record highs

I bet you can all guess where that's coming from.

[DemReadingDU]

7. Tuesday, May 19, 2015 - Highest DOW

18,312.39

https://en.wikipedia.org/wiki/Closing_milestones_of_the_Dow_Jones_Industrial_Average



Thursday, May 21, 2015 - Highest S&P

2130.82

https://en.wikipedia.org/wiki/Closing_milestones_of_the_S%26P_500_Index



Monday, July 20, 2015 - Highest Nasdaq

5,218.86

https://en.wikipedia.org/wiki/Closing_milestones_of_the_Nasdaq_Composite

[Hotler]

3. Swiss bank UBS charged with 'serious' fiscal fraud in Belgium: official

Belgium on Friday charged Swiss banking giant UBS with "serious and organised" fiscal fraud for encouraging clients to cheat on their taxes as well as being involved in money laundering.
"The Swiss bank is suspected of having approached Belgian clients directly (without going through its Belgian unit) with the aim of getting them to sign up to tax evasion products," the federal prosecutor's office said in a statement.

http://www.msn.com/en-us/money/companies/swiss-bank-ubs-charged-with-serious-fiscal-fraud-in-belgium-official/ar-BBq2cc9?li=BBnbfcN&ocid=iehp

Just a blurb, this is all there is at the link. I'll look for more.

[Hotler]

4. Recession sign is in play and has 81% accuracy

Since corporate profits turned negative in mid-2015, Wall Street has pondered whether it's just a passing phase or a signal of something worse. History strongly suggests the latter.

Recessions have followed consecutive quarters of earnings declines 81 percent of the time, according to an analysis from JPMorgan Chase strategists, who said they combed through 115 years of records for their findings.

The news gets worse: Of the remaining 19 percent of the time, recession was only avoided through either monetary or fiscal stimulus. With the Federal Reserve holding limited easing options and a deeply dysfunctional Washington thwarting a fiscal boost, the prospects for help are not good.
(snip)
"Absent a pickup in consumption and further weakening in the U.S. dollar, we continue to see rising risk of earnings recession in the U.S." JPMorgan's equity strategy team said in a note to clients.

http://www.msn.com/en-us/money/markets/recession-sign-is-in-play-and-has-81percent-accuracy/ar-BBq03Wc?ocid=iehp

The economic card readers are not telling us here what we have known for awhile. The pot of recession stew has been on a slow boil. A little bit each week the heat gets turned up more. When the boil over happens is any ones guess, but I'm thinking sometime this year.

[Hotler]

8. Once a Coup, Pipeline Company Deal Becomes a Nightmare

Over the last decade, Kelcy Warren became one of the great beneficiaries of America’s energy boom. The son of a Texas oil-field worker, Mr. Warren built a multibillion-dollar fortune amassing a 71,000-mile network of pipelines across the United States.
And last fall he struck what was to be the capstone deal of his career: His company, Energy Transfer Equity, agreed to buy its rival, the Williams Companies, for about $38 billion, creating the country’s largest pipeline operator.
He doggedly pursued Williams for months, viewing it as the crucial missing piece to his pipeline empire.

“He’s got a great track record. He’s done extremely well in past deals,” said Tom Seng, an assistant professor of energy business at the Collins College of Business at the University of Tulsa. “When he said he was going after Williams, everyone was like, ‘O.K., Kelcy gets what Kelcy wants.’ ”

A mere five months after Mr. Warren signed the acquisition, the deal has become a nightmare.

Shares of both companies have plummeted more than 60 percent and shed a combined $37 billion in market value, partly in response to the huge decline in energy prices, but also because of the numerous concerns investors have about the complicated merger. The value of the deal lost nearly $1 billion on Thursday after Energy Transfer announced disappointing earnings and the company’s stock dropped to its lowest level since 2009.

http://www.msn.com/en-us/money/companies/once-a-coup-pipeline-company-deal-becomes-a-nightmare/ar-BBq1L27?li=BBnb7Kv&ocid=iehp


Wow! This is a big deal and a good read.

[hamerfan]

9. Hi everyone!

On behalf of myself and others. just wanted to pop in and say hi.
We're hanging out at an Econ site somewhere else on the interwebs. Stop by and say hi if you like!