The Federal Reserve Bank of Atlanta’s GDPNow estimate released today reveals a terrible early forecast for third quarter gross domestic product (GDP) growth. It’s especially bad when compared to Wall Street expectations. The GDPNow model puts Q3 2015 GDP growth at 0.9% – that’s a 50% drop from just three days ago. The Atlanta Fed explains: The model’s…
The past few days have seen significant swings in the Atlanta Fed GDPNow Forecast. We are right back to the initial forecast in August. What Happened? On September 28 following the Personal Income and Outlays Report, the forecast rose 0.4 percentage points to 1.8%. On September 29, following the Census Bureau Advance Trade Report the forecast fell 0.7…
At first glance it may seem gratuitous to discuss China and other autocratically-run emerging markets with a headline drawn from a movie which had nothing to do with China, and almost nothing to do with LA’s Chinatown. But in fact the character of the film Chinatown’s villain, Noah Cross, is loosely based upon the real-world first…
Podcast: Play in new window | Play in new window (Duration: 13:16 — 6.1MB) DOW – 12 = 16,272 SPX + 3 = 1923 NAS + 6 = 4627 10 YR YLD – .02 = 2.04% OIL – .11 = 44.98 GOLD – 1.80 = 1114.50 SILV un = 14.63 Manufacturing grew in September at the slowest pace in…
Nonfarm Payroll Friday Today is the Nonfarm Payroll announcement, and as a result you can expect a lot of noise in the marketplace. With that being the case, all trading opportunities will more than likely be of the shorter-term variety, as the market will be very volatile. Ultimately though, we believe that most of the…
“I am amazed at how blatant a price manipulation algo is in gold futures this morning. Really affecting prices.” Eric Hunsader, Nanex Surprised? Not so much. They do it almost every day. Speaking of another day, there is another fine for JPM of $1.86 billion for rigging the swaps market. I think those fines are also…
Today I used Barchart to sort the NASDAQ 100 Index stock for those having both a technical buy signal of 80% or better and also a Weighted Alpha of 50.00+. Today only one made the list; Activision Blizzard (NASDAQ:ATVI) and another one was close; Nvidia (NASDAQ:NVDA). Activision Blizzard Barchart technical indicators: 80% Barchart technical buy signals 56.94+ Weighted Alpha…
Markets are getting restless. Valuations are stretched, the global economy is shaky, and after six years of a bull market investors are taking every excuse to sell. Now, more than ever, it’s important to own quality businesses at fair valuations. Want proof? Look at what’s happened recently to some of the companies we’ve put in…
Back in June, we noted that a group of investors which included hedge funds, pension funds, university endowments, and others were looking to push forward with a lawsuit that alleged Wall Street had conspired to limit competition in the CDS market. Of course the whole case was based on what amounts to tautological reasoning. That…
Things were looking a lot brighter in premarket, but in the end bulls were able to push markets into a higher close, even if volume was lighter than yesterday. The S&P nicks a breakout of declining resistance from the September high, but hasn’t yet challenged declining resistance connecting August and September levels. Technicals hold on…
