General Electric (GE) and Honeywell (HON) released their third quarter earnings reports before opening bell this morning. GE posted adjusted earnings of 29 cents per share, a 16% increase on revenue of $31.68 billion, a 1% decline. Analysts had been looking for earnings of 26 cents per share and $28.57 billion in revenue for the…
NZD/USD: With the pair seen facing downside pressure, we could see more weakness towards its broken resistance turned support located at 0.6707/37 zone. Support lies at the 0.6750 level where a break will turn attention to the 0.6700 level. Further down, the 0.6650 level comes in as the next downside target. Its daily RSI is…
Wal-Mart (WMT) stock has declined more than 11% this week. The stocks decline is due to recent growth projections from Wal-Mart’s 22ndannual meeting for the investment community. With stock declines of about 10% the day of the meeting, things did not go well. For some companies (Netflix, Amazon, Tesla, Facebook, etc.) revenue is all that matters (to…
OVERNIGHT MARKETS AND NEWS December E-mini S&Ps (ESZ15 -0.19%) are down -0.19% as they fall back from a 1-3/4 month high posted in overnight trade. U.S. stock index futures retreated and the dollar and Treasuries rose after Turkey said it shot down an unidentified aircraft flying within its airspace on the Syrian border. European stocks are up +0.75%…
In the absence of any key economic developments in the Asian trading session, Asian stocks traded mostly under the influence of the late, pre-opex US ramp momentum courtesy of another day of ugly economic data in the US (bad econ news is good news for liquidity addicts), closing solidly in the green across the board,…
Is the Federal Reserve having second thoughts about tightening monetary policy? Weak economic data in recent weeks certainly provide excuses to delay any plans to start raising interest rates. Comments from Fed officials over the past week have dispensed mixed signals on the outlook, although some policymakers say the reported divisions on monetary policy opinion…
A unique pattern on the Dow Jones Industrials Average has been in the works for almost two decades Recently, price has reacted to this long term pattern and could signify a change in market behavior A unique pattern on the Dow Jones Industrials Average has been in the works for almost two decades. Developing since the…
Manufacturing Weakness In light of an unbroken string of atrocious manufacturing survey data, we have decided to update a few of the charts we use to assess the economy. For a discussion of the details of the most recent manufacturing surveys see Mish (Empire State and Philadelphia) and Zerohedge (Empire State and Philadelphia). We would note to these data…
The title does not include a (?) after it and that is for a reason. The gold sector’s fundamentals, both sector-specific and macro, are improving and this was not the case during the last exciting upturn in the sector circa summer 2014. Back then, everything from Russia’s move into Ukraine to the Ebola scare were…
A rise in core US CPI figures yesterday restored some hopes that the FOMC could still move this year. Asian stocks are mixed today and are looking for direction despite a final hour rise in Wall St. Nikkei is rising, boosted also by a rise in USDJPY which reclaimed 119 levels after positing 118.05 lows….
