ExxonMobil (XOM) and Chevron Corporation (NYSE:CVX) released their second quarter earnings reports before opening bell this morning. ExxonMobil posted earnings of $1 per share on $74.1 million. Analysts had been projecting earnings per share of $1.11 and revenue of $72.48 billion. In the same quarter last year, the oil giant reported earnings of $2.05 per share…
Earlier today the Swiss National Bank reported a record CHF50.1 bln loss. It has got the chins wagging, but the real implications are minor. The losses are not realized and are unlikely to be repeated. In fact, if the SNB’s report had covered the month of July, the loss would likely have been smaller. More…
In a repeat of Thursday’s action, Chinese stocks which had opened about 1% lower, remained underwater for most of the session before attempting a feeble bounce which took the Shanghai Composite fractionally into the green, before the now traditional last hour action which this time failed to maintain the upward momentum and the last day…
We live in an incredible age of rock star traders and entrepreneurs. It appears as if age, gender, and culture are no longer barriers to entry into the world of business, and there seems to be no stopping many of these bright stars. Today we are going to look at a handful of amazing overachievers…
Canada has a population of over 35 million. The wireless telecommunications industry in Canada is similar to that in the United States. The difference is the Canadian wireless telecommunications industry is smaller by a factor of about 10 – due to the differences in population between the two countries. Two large players dominate the United States…
Looking at the markets, there are a lot of mid-level announcements coming out during the day for Friday, so it is possible we get a little bit of volatility. On top of that, you will have the usual end of the week position squaring, which can cause a bit of volatility as well. One thing…
US economic growth rebounded in the second quarter, but the Treasury market isn’t convinced that GDP’s 2.3% advance in the April-through-June period is the catalyst that will bring a rate hike at the Fed’s monetary meeting in September. The benchmark 10-year yield ticked lower yesterday (July 30), settling at 2.28%, according to Treasury.gov data. That’s a touch…
The US dollar is mostly firmer, with the dollar-bloc under-performing. Month-end flows appear to be favoring the euro though the Swiss franc is also firmer. While the dollar is within yesterday’s ranges against the euro and yen, it is firmer against sterling for the third consecutive session. Asian stocks and bonds were mostly higher…
The USD rose to its strongest level in 7 weeks against the JPY (124.57) and to its highest level in 6 years versus the Australian dollar (72.54). Despite the lower than expected GDP growth in Q2 (2.3% vs. 2.5% expected) a September rate hike (first one in 9 years) is on the table and investors…
I plan to post a new entry very soon but before doing so I wanted to say a few things about the stock markets, which continue to be insane (but not unexpectedly so) and then repost a blog entry that is nearly five years old. By the time I published my latest (July 17) blog…
