With no economic news to digest, the US markets were probably focused primarily on earnings. The S&P 500 hits its 0.35% intraday high shortly after the open and sold off in three waves to its -0.67% intraday low shortly before the close, which saw a trimmed loss of -0.58%. The 500 essentially split the difference…
CME Group (Nasdaq: CME), formerly known as the Chicago Mercantile Exchange, was founded in 1898 as the Chicago Butter and Egg Board. Today, it owns and operates marketplaces for the trading of derivatives, including the CME, CBOT, NYMEX and COMEX. The business has changed radically over the past 10 years as many traders have moved off…
Today’s selling looked much worse on an intraday chart than it probably created in reality. The profit taking did rank as distribution; distribution which kicked in at resistance for the likes of the S&P, but didn’t do enough damage to threaten the breakouts in the Tech indices. While there may be some follow through down…
eBay released its latest earnings report after closing bell tonight, posting non-GAAP earnings of 43 cents per share on $2.1 billion in revenue, a 5% increase on a currency neutral basis but a 2% decline on a reported basis. Analysts had been expecting earnings of 40 cents per share on $2.09 billion in revenue. …
Stocks were on a see-saw today, but finally gave up their attempts to go higher, and slipped to the lows of the day into the close. VIX ticked up a bit in the last hour of trade. I had been watching it carefully, at least for the time that I was in my office and…
Much attention is given to the startups in the online lending space. Companies like Propser are raising huge rounds.Acquisitions in the online lending space are beginning to become more frequent. With new investments and new companies being formed weekly, we almost never read about how banks are responding to some of the competitive pressures fintech startups are bringing to bear….
Despite a moderate recovery in the U.S. economy, investors are skeptical due to global growth worries that have been haunting the markets lately. The Chinese central bank’s sudden move to cut interest rate and devalue its currency in August to prop up growth not only failed to calm investors, but worsened the economic picture worldwide….
In the past few months, Citi’s chief economist Willem “Gold is a 6000 year old bubble” Buiter, has been making increasingly more hyperbolic and grandiose predictions about the future, which doesn’t make them wrong. First, in August, after the US stock market tanked in the matter of days, he predicted that “Only “Helicopter Money” Can…
The four major market averages (Dow, S+P, Russell and Nasdaq) are still below their 200 day moving averages. Earnings estimates are projecting a decline of 5% for the 3rd quarter 2015 and earnings and revenue growth aren’t expected to return until the 1st quarter of 2016. It’s possible, for this year, investors will not experience…
“Gentlemen! I too have been a close observer of the doings of the Bank of the United States. I have had men watching you for a long time, and am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits…
