As the bid shifts back to the venerable likes of the S&P 500, certain momo leaders like the Biotechs and the Internets are hiccuping and others, like the Semi’s and Small Caps, are downright on the verge of breaking down. SOX-SPX RUT-SPX While BKX-SPX flounders around trying to get its leadership back in alignment with…
There was intraday commentary about the FOMC statement here. Even though The Recovery does not warrant it, I am still of the same mind I have been, that the Fed will raise 25 basis points in September unless the wheels are falling off the global financial system and/or the economy. It is purely an inward-looking policy…
Summing up the talking heads opinions on China, Twitter, Yelp… and so on.. Overnight exuberance in the afternoon session in China…. China market makes me laugh $ASHR $SHSZ300 @prchovanec pic.twitter.com/GQkD1bLr6p — Walt Hudson (@WaltHudson) July 29, 2015 Provided the first momo pump in US stocks (but that faded back to unch ahead of the open…
Another round of buying swept through Large Cap indices, but other indices didn’t enjoy the same level of interest. The S&P had the best of it. Since the middle of July it has enjoyed a strong advance relative to Small Caps and Technology indices, but it may be time for it to revert to mean….
Electronic Arts (EA) is set to report FQ1 2016 earnings this Thursday after the markets close. With the Estimize EPS consensus at $0.11 and the Wall Street consensus at $0.04, it appears that EA may beat its earnings expectations for the 9th quarter in a row. In terms of revenue, the Estimize consensus also outpaces that…
After the bell Wednesday, social media giant Facebook (FB – Analyst Report) posted Q2 earnings and results were mixed on the top and bottom lines. Earnings of 30 cents per share (accounting for stock-based compensation and other before non-recurring items; the company’s headline number was 50 cents per share) on quarterly sales of $4.04 billion compare to…
So the Fed didn’t raise rates again. And the timing of the rate increase will be data dependent. Ho hum. There’s just one little problem. The inflation measures the Fed watches really don’t measure inflation. The Fed won’t see what its cronies in the government and economic establishment refuse to measure, which is that we’ve already long since passed…
Moments ago, Facebook reported Q2 earnings and just like Twitter, it beat across all key financial metrics: Revenues of $4.04 billion beat consensus $3.99 billion Non-GAAP EPS of $0.50 also beat consensus of $0.47 (GAAP EPS was a different story, at half the non-GAAP). Monthly active users (MAUs) – MAUs were 1.49 billion as of…
Austria’s Constitutional Court Decides to Uphold Property Rights To everybody’s vast surprise, Austria’s constitutional court has decided not to side with the government in the infamous Hypo Alpe Adria (HAA) case. The bank went belly-up after the 2008 crisis and slowly but surely it emerged that it represented a financial catastrophe of truly stunning proportions….
Photo credit: jonesylife || Oh look, a dozen doves flying at the FOMC! June 2015 July 2015 Comments Information received since the Federal Open Market Committee met in April suggests that economic activity has been expanding moderately after having changed little during the first quarter. Information received since the Federal Open Market Committee met in June indicates…
