Just in case yesterday’s weakness was mistaken for “well, it’s just stabilizing before the next leg higher,” US equity markets are pooping the bed this morning with The Dow down over 500 points from its post-Yellen highs, FANGs plunging red, credit collapsing, and bond yields slumping. Between quad-witching, Fed policy error concerns, and the utter failure…
Lennar Corporation (LEN – Analyst Report) is one of the leading homebuilders in the U.S. With overall housing market recovering at a slow but steady pace, Lennar’s order trends have been improving at a consistent pace. Lennar is performing well on the back of its diverse revenue mix, large land supply, above average order growth and better pricing…
I’m currently reading Titan by Ron Chernow. This is an excellent book about the life of John D. Rockefeller Sr. (July 8, 1839 – May 23, 1937, Obituary from the New-York Times). Mr. Rockefeller was known as the co-founder of the Standard Oil Company and was the world’s richest person. Adjusted for inflation, his fortune upon his death in 1937 stood…
The manufacturing sector may be in recession, but the labor market still looks resilient. That’s the key message in recent economic updates. It’s anyone’s guess if this skewed relationship will endure, but for the moment it’s enough to keep the threat of recession in the category of a low-probability event, based on numbers published to…
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Not since December 2013 have Canadian Consumer Prices dropped by such a large amount. November CPI dropped 0.3% MoM, dramatically worse than expected to the largest drop since Dec 2013. The largest YoY drop in Canadian CPI, amid a surge in inventories relative to a collapse in wholesale sales sent the loonie crashing above 1.4000 for the…
Before the uber Apple bulls bash me for the title of this article, let it be known that I love Apple. I’ve been a loyal customer since the iPod, I am long the stock, and I have full faith that long term, the company will continue to innovate in new and exciting product categories, whether it be…
Well…she did it. After eleven years of maintaining emergency rates in order to boost asset prices, valuations, speculative debt accumulation back to pre-financial crisis levels, Janet Yellen officially hiked rates this past week. More interesting was that while banks are getting paid more on excessive reserves, and hiked the lending rates, they have not offered…
The EUR/USD pair initially tried to rally during the session on Thursday but then turned back around and fell to the 1.08 level. This is the bottom of the larger consolidation area as you can see marked on the chart, so at this point in time I think that it’s only a matter of time…
Week 49 of 2015 shows same week total rail traffic (from same week one year ago) declined according to the Association of American Railroads (AAR) traffic data. Intermodal traffic returned to contraction year-over-year, which accounts for approximately half of movements and weekly railcar counts continued deeply in contraction. This analysis is looking for clues in the rail…
