With this morning’s release of the July S&P/Case-Shiller Home Price we learned that seasonally adjusted home prices for the benchmark 20-city index were down fractionally month over month for the third consecutive month at -0.2%. However, the year-over-year change has hovered between 4.9% and 5% for six months. Price growth, we’re told, is mostly in…
Gray Swans and Black Swans By Monday’s close, the S&P 500 Index was closing in on the low established in the August swoon – such a retest was essentially our minimum expectation, as V-shaped rebounds are very rare. The question is now whether it will only be a retest, or if something worse is in…
Coca-Cola (KO) has a market cap of $172 billion. PepsiCo’s (PEP) market cap is $136 billion. By comparison, Dr. Pepper Snapple Group (DPS) is tiny. The company has a market cap of ‘just’ $14.7 billion – less than one-tenth the size of Coca-Cola. Unlike its larger rivals, Dr. Pepper Snapple Group does not have a global presence. The…
For the third month in a row, the Case-Shiller 20-city seasonally adjusted home price index declined. Last month was revised lower. Economists were surprised. The Bloomberg Econoday Consensus was for a month-over-month rise of 0.1%, instead prices declined by -0.2%. Case-Shiller is reporting what is becoming striking weakness in home prices, at -0.2 percent in July for…
In the last trading session, U.S. stocks dipped on weak profit data from China. As for the top ETFs, investors saw (SPY – ETF report) lose 2.5%, (DIA – ETF report) shed 1.9%, while (QQQ – ETF report) moved lower by 2.8% on the day. Two more specialized ETFs are worth noting in particular as both saw trading volume far outside…
Global stocks fell to their lowest point in 2 years as emerging markets and commodities prices stayed under pressure. European shares partially recovered some of the losses however most major indexes remained near 2015 lows. Earlier Asian shares fell after China released yet another round of disappointing manufacturing data. Gold fell to 1124 on worries…
Written by Doug Short and Steven Hansen The Conference Board Consumer Confidence Index improved to 103.0 from the 101.5 reported last month. The market expected (from Bloomberg) this index to come in at 88.5 to 100.0 (consensus 96.0) versus the 103.0 reported. This index has now improved to a point that its level is now commenserate with periods…
Two weeks ago, Deutsche Bank announced it was set to fire “roughly” 23,000 people, or around a quarter of its workforce as new CEO John Cryan aims to cut costs as part of a reorganization undertaken in the wake of the ouster of Anshu Jain and Jürgen Fitschen. Anyone who might have assumed that the massive layoffs…
XAUUSD 1125 XAU/USD has broken the pattern and the down trend which means we will see an upside move till the level of 1172(This is the higher probable scenario last week , however , now as long as market is trading at 1120s levels then this major bullish scenario has a probability equal to the…
We drew the parallel in NFTRH 362 using a weekly chart like this one. As it happens, the ‘quants’ are on this theme as well. As B.I.G. points out, it’s been one of the longest runs on record (1,326 days) without a 10% correction. Well it is here and it is remarkably similar to 2011’s correction. Blow…
