The 2% devaluation of the Chinese yuan on Monday, and subsequent 1.6% weakening on Tuesday, was variously described as surprising and stunning. I think it was to be expected, given China’s slowing growth, although there was no particular reason to believe Monday would be the day. In evaluating the effects, one has to first place the…
If our government can’t destroy all the private-sector jobs directly, it will do so indirectly by borrowing so much money the system collapses. Conventional economists and pundits are puzzled why jobs growth has been so anemic in this “recovery.” Here’s one factor they overlook: our government. In theory, our government is supposed to encourage private sector…
In the last quarter of 2014, in the face of possible oversupply, Saudi Arabia abandoned its traditional role as the global oil market’s swing producer and therefore it role as unofficial guarantor of existing ($100+ per barrel) prices. In October, Saudi sources first prepared the market with statements that the country would be comfortable with…
(Video length 00:03:10) Shelly Palmer talks about Google’s restructuring and the potential pros and cons of Alphabet with Richard Quest on CNN’s Quest Means Business. Airdate: August 11, 2015
The Industrious Greeks Mystery In the course of the Greek crisis, animosities between creditor countries like Germany and Greece didn’t take long to surface. They were fired up in the tabloid press, which was quick to revive various stereotypes. In Greece, Germans soon found themselves compared to their Nazi predecessors, while German tabloids inter alia complained sotto voce about…
Macy’s, Inc. (M – Analyst Report), one of the leading department store retailers, came out with second-quarter fiscal 2015 results, wherein earnings of 64 cents per share missed the Zacks Consensus Estimate of 75 cents and slumped 20% from 80 cents delivered in the year-ago quarter. For fiscal 2015, earnings per share are still expected to be in…
Today I am featuring a guest post by my good friend, Ryan Detrick, which looks at the Death Cross in greater detail than I have ever seen. Yesterday, we had what technicians call a Death Cross form on the Dow. This happens when the longer-term 200-day moving average crossed beneath the faster moving 50-day moving average. …
US retail sales are expected to increase 0.3% in tomorrow’s July report vs. the previous month, according to The Capital Spectator’s average point forecast for several econometric estimates. The mean prediction reflects a modest rebound after the previous month’s 0.3% decline. Two recent surveys of economists project moderately higher rates of growth for retail spending…
The Biotech ETF (iShares, IBB) sported a lousy looking pattern earlier in the year. Lousy looking pattern 1.0 = new highs to come. Lousy looking pattern 2.0 = ?
USDCHF: With USDCHF turning lower on a strong sell-off on Wednesday, it now faces further corrective weakness in the days ahead. On the downside, support comes in at the 0.9700 level. A turn below here will open the door for more weakness to occur towards the 0.9650 level and then the 0.9600 level. A cut…
